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Breaking News

  • Thursday April 24, 12:03 PM ET
    • KKR Financial (KFN +3.2%) reported Q1 earnings yesterday after the bell, but the stock is ahead because of a 3%-plus gain at KKR which reported its results earlier this morning.
    • Previously: Surging markets boost KKR
    • Previously: KKR Financial Holdings LLC misses by $0.02
    • KKR expects its acquisition of KKR Financial to close sometime this quarter. KFN owners will receive 0.51 shares of KKR for each share of KFN they own.
    [Financials, On the Move] Comment!
  • Thursday April 24, 12:00 PM ET
    • Dow +0.13%.
    • 10-yr -0.05%.
    • Euro +0.07% vs. dollar.
    • Crude +0.59% to $102.04.
    • Gold +0.41% to $1289.9.
  • Thursday April 24, 11:59 AM ET
    • Lockheed Martin (LMT) declares $1.33/share quarterly dividend, in line with previous.
    • Forward yield 3.31%
    • Payable June 27; for shareholders of record June 2; ex-div May 29.
    [Dividends] Comment!
  • Thursday April 24, 11:58 AM ET
    [Healthcare, On the Move] Comment!
  • Thursday April 24, 11:58 AM ET
    • Entergy's (ETR +0.1%) Q1 earnings more than doubled and revenues rose 23% Y/Y to $3.2B, but shares are flat as investors attribute the strength to significantly higher wholesale electricity prices resulting from cold winter weather and limitations of the pipeline infrastructure in the Northeast.
    • ETR says that even excluding weather impacts, sales growth was positive for residential, commercial and industrial customer classes.
    • Reaffirms guidance for FY 2014, seeing operational EPS of $5.55-$6.75 vs. $5.84 analyst consensus estimate.
    [Energy, Earnings] Comment!
  • Thursday April 24, 11:44 AM ET
    • Cameron (CAM +1.5%) shares are higher after Q1 earnings beat estimates, although an 18% rise in revenues was offset by 20% higher expenses.
    • Total Q1 orders were $2.5B, down Q/Q and Y/Y but the second-best Q1 results in CAM's history; with a more robust outlook for North America and several deepwater projects expected to move forward, CAM thinks orders could exceed 2013 levels.
    • Backlog at the end of Q1 was $11.3B, +13% Y/Y but down slightly from its historical high of $11.4B at the end of 2013 reflecting the cancellation of the STX deepwater rig order during the quarter.
    • Issues in-line guidance for Q2, seeing EPS of $0.84-$0.89 vs. $0.88 analyst consensus estimate; issues in-line guidance for FY 2014, seeing EPS of $3.80-$4.10 vs. prior guidance of $3.60-$4.00 and $3.82 consensus.
    [Energy, Earnings, On the Move] Comment!
  • Thursday April 24, 11:43 AM ET
    • Deutsche's Karl Keirstad has upgraded MicroStrategy (MSTR +12%) to Buy. He reports management comments at yesterday's shareholder meeting suggest the company is finally ready to "open up to the Street and is now willing to meet with top shareholders."
    • Keirstad: "Roughly 10 years ago, MSTR adopted a no-communication policy with the Street, meaning no earnings call, no guidance, no contact with investors, no response to Street inquiries ...  This lack of visibility has been one of the biggest weights on MSTR’s industry-low multiple."
    • He still doesn't expect the BI software vendor to offer guidance, but thinks earnings calls are now "under consideration." With shares only going for 1.4x 2014E EV/sales in spite of MicroStrategy's possession of a best-in-class BI suite, Keirstad sees plenty of room for multiple expansion if the company "truly opens up."
    • If history is any guide, Q1 results could arrive next week.
    [Tech, On the Move, Quick Ideas] Comment!
  • Thursday April 24, 11:28 AM ET
    • The real rises to its strongest level vs. the dollar since October amid a published report that Brazilian President Dilma Rousseff may replace finance minister Guido Mantega with central bank chief Alexandre Tombini.
    • First up for Rousseff though, will be winning reelection in October.
    • Tombini has led a series of rate hikes over the past year, but recently signaled a pause could soon be coming. Looking ahead to easier monetary policy, Brazil's previously beaten down stock market has been one of the globe's strongest performers over the past couple of months.
    [Global & FX] Comment!
  • Thursday April 24, 11:27 AM ET
    • The Gorman-Rupp Company (GRC): Q1 EPS of $0.38 beats by $0.09.
    • Revenue of $110.06M (+19.0% Y/Y) beats by $11.14M.
    • Press Release
    [Earnings, Breaking News] Comment!
  • Thursday April 24, 11:18 AM ET
    • Cnooc (CEO) is replacing the CEO at its Nexen Energy Canadian unit with a veteran Chinese-national engineer with 30 years' experience in the industry, but says it isn't changing company strategy.
    • CEO says Kevin Reinhart was dismissed after 20 years at Nexen, including a stint as interim CEO, because new skills were required at the top; new CEO Fang Zhi had been an executive VP responsible for international affairs.
    • The change is part of a pattern of increasing Chinese presence at the company as it integrates Canadian operations, shifts the focus to improving results, and comes despite promises that it would keep all of Nexen’s staff and management.
    • The Nexen purchase has made a big impact on Cnooc: Q1 revenue from oil and gas output rose 6.9% Y/Y and total production rose 16%, boosted by Nexen assets in Canada and the North Sea.
    [Energy] 1 Comment
More Breaking News »


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