XOM - Exec: company is strong enough financially to conduct acquisitions - conf call comments
Hearing renewed chatter of potential for activist to get involved after disappointing Q1 results
IMF comments on Greece, have no detailed information on liquidity; next Greece payment will be due May 6
- not expecting Greece to exit the EMU
GM Announces $5.4 Billion in U.S. Plant Investments
$783.5 million identified for three Michigan facilities; remainder to follow this year
Ford - CEO: auto industry is healthy; "who knows" if there will be any futher consolidation - CNBC interview
*PFIZER IS SAID TO BE MYSTERY BIDDER FOR SWEDISH ORPHAN: REUTERS
2015-04-30 14:28:27.342 GMT
--JOSHUA FINEMAN
-0- Apr/30/2015 14:28 GMT
2015-04-30 14:28:27.342 GMT
--JOSHUA FINEMAN
-0- Apr/30/2015 14:28 GMT
CNH Industrial resumes trade: Misses by $0.04, misses on revs; lowers FY15 guidance
Reports Q1 (Mar) earnings of $0.02 per share, $0.04 worse than the Capital IQ Consensus of $0.06; revenues fell 21.0% year/year to $5.96 bln vs the $6.54 bln consensus, down 11% on a constant currency basis.
- Net sales of Industrial Activities were $5.6 billion, down 12% compared to Q1 2014 on a constant currency basis (down 22% on a reported basis).
- Operating profit of Industrial Activities for the quarter was $223 million ($412 million in Q1 2014), with operating margin at 4.0% (5.7% in Q1 2014).
ECB's Coeure has said a Greece T-bill increase might be possible if deal looks likely - press
- Coeure has reportedly indicated to other officials that if Greece talks with creditors make good progress the ECB could consider a T-Bill increase. ECB would also require Greece to show they have other sources of funding before considering the move.
Gapping up
In reaction to strong earnings/guidance: AAC +14.7%, INUV +12.7%, AAWW +9.9%, GTI +9.7%, HDSN +9.6%, FOE +8%, ARII +7.7%, HOS +6.8%, CVEO +6.6%, EQIX +5%, AR +4.9%, RRTS +4.5%, LOCK +3.8%, NCIT +3.5%, ABC +3.4%, SEE +3.1%, PPC +3%, NXPI +2.7%, AFFX +2.6%, ATW +2.5%, O +2.4%, RDWR +2.3%, SHPG +2.3%, HUN +2.2%, ROK +2.2%,QUIK +2%, EROC +2%, NE +1.8%, (light volume), ATTU +1.4%, TEVA +1.3%, DLPH +1.3%, SPRT +1.2%, CSII +0.9%, TWC +0.9%, ARRS +0.8%, ARRS +0.8%, PWE +0.8%
M&A news: WX +16.5% (announces receipt of proposal to acquire all outstanding shares for $46/ADS share in cash), CNSI +10% ( to divest BSS Business to Amdocs (DOX) for total purchase price of $272 mln), GTI +9.9% (Board approved agreement for sale of $150 mln of 7% convertible preferred shares to Brookfield Asset Management (BAM); co entered into a separate letter of intent for a possible tender offer by BAM to acquire GTI shares at $5.05 per share; co also reported earnings), OVTI +5.7% (near deal to be acquired by Hua Capital for ~$29 per share, or $1.68 bln, according to reports ),
Other news: GLUU +24.4% (announced that Tencent (TCEHY) has agreed to purchase 21 million shares of Glu's common stock at a price of $6.00 per share for total consideration of $126 mln; announced partnership with Britney Spears; co also reported earnings), FOE +8% (to acquire global inorganic pigments manufacturer Nubiola; co also reported earnings), SDRL +5.2% (in symp with STO), ESI +3.3% (announces Chief Financial Officer transition and enrollment results), AKAO +2.6% (reaches settlement of its claim with the Defense Threat Reduction Agency), FRPT +2.4% (prices 5,313,351 shares of common stock held by certain stockholders at $21.47 per share)
Analyst comments: SPLS +1.9% (upgraded to Buy from Hold at Jefferies), JBLU +1.7% (upgraded to Outperform from Neutral at Credit Suisse), BWLD +1.7% (upgraded to Outperform from Neutral at Robert W. Baird), ODP +1.6% (upgraded to Buy from Hold at Jefferies ), MDLZ +0.5% (upgraded to Buy from Hold at Deutsche Bank), CCJ +0.5% (upgraded to Outperform from Mkt Perform at Raymond James
)
In reaction to strong earnings/guidance: AAC +14.7%, INUV +12.7%, AAWW +9.9%, GTI +9.7%, HDSN +9.6%, FOE +8%, ARII +7.7%, HOS +6.8%, CVEO +6.6%, EQIX +5%, AR +4.9%, RRTS +4.5%, LOCK +3.8%, NCIT +3.5%, ABC +3.4%, SEE +3.1%, PPC +3%, NXPI +2.7%, AFFX +2.6%, ATW +2.5%, O +2.4%, RDWR +2.3%, SHPG +2.3%, HUN +2.2%, ROK +2.2%,QUIK +2%, EROC +2%, NE +1.8%, (light volume), ATTU +1.4%, TEVA +1.3%, DLPH +1.3%, SPRT +1.2%, CSII +0.9%, TWC +0.9%, ARRS +0.8%, ARRS +0.8%, PWE +0.8%
M&A news: WX +16.5% (announces receipt of proposal to acquire all outstanding shares for $46/ADS share in cash), CNSI +10% ( to divest BSS Business to Amdocs (DOX) for total purchase price of $272 mln), GTI +9.9% (Board approved agreement for sale of $150 mln of 7% convertible preferred shares to Brookfield Asset Management (BAM); co entered into a separate letter of intent for a possible tender offer by BAM to acquire GTI shares at $5.05 per share; co also reported earnings), OVTI +5.7% (near deal to be acquired by Hua Capital for ~$29 per share, or $1.68 bln, according to reports ),
Other news: GLUU +24.4% (announced that Tencent (TCEHY) has agreed to purchase 21 million shares of Glu's common stock at a price of $6.00 per share for total consideration of $126 mln; announced partnership with Britney Spears; co also reported earnings), FOE +8% (to acquire global inorganic pigments manufacturer Nubiola; co also reported earnings), SDRL +5.2% (in symp with STO), ESI +3.3% (announces Chief Financial Officer transition and enrollment results), AKAO +2.6% (reaches settlement of its claim with the Defense Threat Reduction Agency), FRPT +2.4% (prices 5,313,351 shares of common stock held by certain stockholders at $21.47 per share)
Analyst comments: SPLS +1.9% (upgraded to Buy from Hold at Jefferies), JBLU +1.7% (upgraded to Outperform from Neutral at Credit Suisse), BWLD +1.7% (upgraded to Outperform from Neutral at Robert W. Baird), ODP +1.6% (upgraded to Buy from Hold at Jefferies ), MDLZ +0.5% (upgraded to Buy from Hold at Deutsche Bank), CCJ +0.5% (upgraded to Outperform from Mkt Perform at Raymond James
)
Gapping down
In reaction to disappointing earnings/guidance: YELP -18%, GNC -10%, GNRC -8%, PCRX -7.2%, MVIS -5.4%, TKR -5.2%, HBIO -5.1%, FORM -5%, CAMT -4.9%, DXCM -4.2%, FLEX -3.8%, BIDU -3.6%, KEX -3.5%, CRR -3.3%, SFLY -3.2%, NGD -2.9%, EPD -2.9%, HEES -2.8%, CAVM -2.7%, POT -2.6%, LPLA -2.6%, TEX -2.5%, DYAX -2.4%, USLM -2.2%, UFS -2.1%,LXRX -1.9%, (announces one for seven reverse stock split effective May 20, 2015), BLKB -1.9%, CBT -1.9%, CL -1.9%, CELG -1.9%, LNC -1.7%, XL -1.6%, AVP -1.4%, ROG -1.3%, KEG -1.3%, ORN -1.3%, ASH -1.2%, MUR -1.2%, POWI -1%, VRTX -0.8%, SU -0.8%, SCG -0.8%
M&A news: FLEX -3.8% (to acquire Mirror Controls International from private equity firm Egeria )
Other news: INO -10.7% (announces a public offering of common stock), ALU -6% (in reaction to NOK earnings), ADXS -4% ( proposed public offering of common stock), STNG -4% ( announces public offering of 15 mln common shares ), NBG -3.6% (cont uncertainty in Greece), RIO -2.1% (in symp with VALE), TRN -1.1% (disclosed it received a subpoena April 28 from the DoJ; is also aware that multiple law firms have recently filed purported class action lawsuits ), AAPL -0.5% (reports of Apple Watch issues)
Analyst comments: AGIO -3.1% (downgraded to Hold from Buy at Canaccord Genuity ), PAG -1.3% (downgraded to Sell from Neutral at Goldman
)
In reaction to disappointing earnings/guidance: YELP -18%, GNC -10%, GNRC -8%, PCRX -7.2%, MVIS -5.4%, TKR -5.2%, HBIO -5.1%, FORM -5%, CAMT -4.9%, DXCM -4.2%, FLEX -3.8%, BIDU -3.6%, KEX -3.5%, CRR -3.3%, SFLY -3.2%, NGD -2.9%, EPD -2.9%, HEES -2.8%, CAVM -2.7%, POT -2.6%, LPLA -2.6%, TEX -2.5%, DYAX -2.4%, USLM -2.2%, UFS -2.1%,LXRX -1.9%, (announces one for seven reverse stock split effective May 20, 2015), BLKB -1.9%, CBT -1.9%, CL -1.9%, CELG -1.9%, LNC -1.7%, XL -1.6%, AVP -1.4%, ROG -1.3%, KEG -1.3%, ORN -1.3%, ASH -1.2%, MUR -1.2%, POWI -1%, VRTX -0.8%, SU -0.8%, SCG -0.8%
M&A news: FLEX -3.8% (to acquire Mirror Controls International from private equity firm Egeria )
Other news: INO -10.7% (announces a public offering of common stock), ALU -6% (in reaction to NOK earnings), ADXS -4% ( proposed public offering of common stock), STNG -4% ( announces public offering of 15 mln common shares ), NBG -3.6% (cont uncertainty in Greece), RIO -2.1% (in symp with VALE), TRN -1.1% (disclosed it received a subpoena April 28 from the DoJ; is also aware that multiple law firms have recently filed purported class action lawsuits ), AAPL -0.5% (reports of Apple Watch issues)
Analyst comments: AGIO -3.1% (downgraded to Hold from Buy at Canaccord Genuity ), PAG -1.3% (downgraded to Sell from Neutral at Goldman
)