Thursday, December 5, 2013
6:17 PMAlexco Resources +2.4% AH on Keno Hill economic assessment
- Alexco Resources (AXU) +2.4% AH after releasing a preliminary economic assessment for expanded silver production from the eastern part of its Keno Hill Silver District in Yukon.
- AXU projects average annual delivery of 3.1M oz. of payable silver, 6.8M lbs. of lead, 6.6M lbs. of zinc and 1,050 oz. of gold from ~150K metric tons/year of consolidated mine and mill production.
- AXU's forecast 38% internal rate of return includes its silver purchase agreement with Silver Wheaton (SLW); initial capital requirements are ~$25M.
6:03 PMBallard +22.4% AH, inks MOU with Van Hool for buses, joint proposals
- Ballard Power Systems (BLDP) shares fly 22.4% higher AH after the company signs a non-binding Memorandum of Understanding with Van Hool, Europe's 4th largest bus manufacturer, in support of manufacturing/deploying zero emission fuel cell buses.
- The two companies intend to jointly submit proposals under the EU Hydrogen Fuel Cell Joint Undertaking and under future calls of the Horizon 2020 program, which has an incremental budget of €700M.
- 27 Van Hool buses powered by Ballard fuel cell modules will be deployed in 2014 and a dedicated service/parts center will be established in Belgium to support the buses.
5:25 PMU.S. Silica in 4.5M-share secondary offering, -3.5% AH| 2 Comments
4:47 PMBig Lots -8.4% AH on Q3 miss, dour guidance
- Big Lots (BIG) shares are down 8.4% AH after the struggling retailer missed expectations in Q3.
- Q4 guidance is woefully below analyst expectations: EPS from U.S. ops is seen at $1.40-$1.55, while consolidated EPS (including Canadian ops) is forecast at $0.65-$0.90, vs. analyst consensus of $2.11. U.S. sales are seen down 6%-8% Y/Y on a "low to mid single digits" decline in comps vs. analyst expectations of a 1.4% Y/Y drop in revenue.
- Conference call at 8am ET tomorrow, PR
4:44 PMFinisar +5.7% AH on FQ2 beat, guidance; JDS Uniphase +1.8%
- Finisar (FNSR) is guiding for FQ3 revenue of $290M-$305M and EPS of $0.43-$0.47, above a consensus of $289.3M and $0.38.
- FQ2 results beat estimates thanks in large part to an 11% Q/Q and 46% Y/Y increase in datacom component sales to $204.3M (70% of total revenue); the Y/Y growth rate represents a solid increase from FQ2's 32%. Healthy data center infrastructure spending from Internet/cloud services firms likely played a big role.
- Telecom component sales totaled $86.5M, +6% Q/Q but -6% Y/Y. Major customer Cisco recently reported seeing soft telecom hardware orders.
- Gross margin was 37.1%, +200 bps Q/Q and +660 bps Y/Y. FQ3 GM is expected be around 37%.
- Opex rose 15% Y/Y; R&D, sales/marketing, and G&A spend each grew by a double-digit percentage.
- Aided by yesterday's FBR note, Finisar is now up 17% from Tuesday's close. JDS Uniphase (JDSU) is following its rival higher AH.
- CC at 5PM ET. FQ2 results, PR, presentation
4:31 PMGolar LNG to sell Golar Igloo to GMLP, to be funded by 5.1M-unit offering
- Golar LNG (GLNG) agrees to sell its ownership interest in the company that will own and operate the Golar Igloo floating storage and regasification unit to Golar LNG Partners (GMLP) for $310M.
- To fund the deal, GMLP plans a public offering of 5.1M common units, to include GLNG offering 3.4M common units as a selling unitholder.
- GLNG -1.9%, GMLP -4.9% AH.
4:25 PMUlta -14.5% AH on Q3 miss, subpar guidance
- Ulta Salon, Cosmetics & Fragrance (ULTA) shares are taking a beating AH, down 14.5% following a Q3 miss and subpar guidance.
- Comparable store sales increased 6.8% Y/Y, a slowdown from the 8.9% jump in Q3 2012.
- Gross profit edged up 70 bp to 37.4%, while SG&A as a % of sales climbed 120 bp to 24.5%
- The company opened 55 new stores in Q3, relocated 3, and remodeled 6.
- Management's Q4 guidance is paltry relative to analyst expectations: revenue is seen at $853M-$867M (vs. consensus of $894.8M) on comps of 7%-9%, EPS at $1.08-$1.10 ($1.24). The forecast takes into account "softer retail sales trends at the end of the third quarter which are expected to continue, as well as the Company's plans to maintain strong market share gains during a highly competitive and promotional holiday season."
- Conference call at 5pm ET, PR
3:55 PMReport: Time Warner Cable will take offer in $150-$160 range| 7 Comments
3:54 PMAlcatel-Lucent replacing STMicroelectronics in CAC-40
- As predicted by many investors and analysts, Alcatel-Lucent (ALU +3.6%) is returning to France's benchmark CAC-40 index. NYSE Euronext says the telecom equipment giant will be added back on Dec. 23, and replace chipmaker STMicroelectronics (STM -1.2%).
- Alcatel, buoyed by a debt restructuring and improving margins, has made fresh 2-year highs today, and is now up 224% YTD. STM, which has been posting Y/Y revenue drops and contending with the unraveling of its ST-Ericsson mobile chip JV, is up 5% YTD, but well off its summer highs.
2:53 PMAmbarella's FQ3 results arrive early, shares move higher
- Ambarella (AMBA +1.5%), which was expected to deliver its FQ3 report after the close, has reported FQ3 revenue of $46M (+29% Y/Y and beating consensus by $2M), and EPS of $0.37 (beats consensus by $0.08). (PR)
- Shares of the video-processing SoC vendor have ticked modestly higher on the news, and are close to their recently-made all-time high of $25.12.
- CC at 5PM ET.