Seeking Alpha
  • Today - Thursday, November 27, 2014

  • 6:28 PM
    • Outbrain has filed notice confidentially with the Nasdaq seeking approval for a public listing of shares, according to the WSJ.
    • Sources indicate the integrated online advertising trailblazer seeks a valuation as high as $1B.
    • Outbrain's content recommendation product is considered one of the stronger Google Adsense alternatives for website publishers.
    | Comment!
  • 6:10 PM
    • Black Friday protests are expected at Wal-Mart (NYSE:WMT) stores in major cities across the U.S. tomorrow.
    • Many of the protests will include current Wal-Mart workers.
    • Retail watchers expect the level of participation by Wal-Mart workers to be higher than in past years.
    • The biggest complaint of organized labor groups against the Bentonville giant is over the proportion of Wal-Mart workers earning less than $15 per hour.
    | 1 Comment
  • 5:32 PM
  • 3:56 PM
  • 2:01 PM
    • Oil and Natural Gas Sales for H1 2015 amounted to $5.8M vs. $4.9M for the same period last year (19% increase).
    • Cash generated from operating activities continued its trend and increased to $1,241,000 in H1 2015 from $850,000 one year ago (46% increase).  It increased to $99,000 for Q2 2015, compared to a loss of $185,000 for the same quarter one year ago.
    • Net income of $170,000 in H1 2015 versus a net loss of $246,000 for the same period last year.
    • Source: press release
    | Comment!
  • 1:51 PM
    • Arctic Securities maintains its Sell rating and lowers its price and dividend targets on Statoil (NYSE:STO).
    • Notes that “run rate” 2015 operational cash flow is currently at NOK 104B while CAPEX is currently guided at NOK 138B. Consensus dividend expectation is NOK 7.54/share, or NOK 24B. "Statoil will hence before any divestments have to borrow NOK 58B next year to bridge the funding gap."
    • "Statoil is not in a position to continue the current dividend policy." Says oil prices would need to rise to $130/bbl for 2015 and $115/bbl for 2016 to make dividend sustainable.
    • Lowers price target to NOK 115 and dividend estimate by NOK 1.75/share to NOK 5.75 and NOK 6.00 in 2015 and 2016.
    • Shares are -24.6% since Arctic first pegged STO with a Sell rating on July 23. They fell 4.75% today to NOK 142.30.
    • Previously: Crude now -7.6% on OPEC rollover
  • 1:27 PM
    • Monitise (OTCPK:MONIF) gets a £49.2M investment from strategic partners Telefonica (NYSE:TEF), Santander (NYSE:SAN) and Mastercard (NYSE:MA).
    • They will buy 161M ordinary shares at 30.5p/share (Nov. 26's close), representing 8.2% of the existing issued ordinary share capital.
    • Monitise also says it's in discussions to expand its commercial relationships with above partners "to support the development and accelerated rollout of its global platform capabilities."
    • IBM has agreed to deploy Watson in support of Monitise’s new technology platform.
    • Monitise also reiterates current year and longer-term guidance.
    • Short interest is ~11% of float.
    • Monitise was best performer on FTSE AIM 100 index today.
    • Source: press release
  • 12:11 PM
    • CEO Nick Hayek (OTCPK:SWGAY) says it's Apple (NASDAQ:AAPL) that's under pressure, not the Swiss watch industry.
    • Apple's watch is "not yet ready for mass production," and that this "would not have happened under Steve Jobs."
    • Smart-watches "won't revolutionize" the watch industry, he says, any more than clock-equipped smartphones did.
    • Hayek thinks the Apple Watch could spur business, because many customers will opt to buy normal watches instead.
    • Source: Handelsblatt
  • 12:11 PM
    • Britain's National Institute for Health and Care Excellence (NICE), the advisory group for the National Health Service, recommends the commission of Alexion Pharmaceuticals' (NASDAQ:ALXN) Soliris (eculizumab) for the treatment of patients with atypical hemolytic uremic syndrome (aHUS), an ultra-rare life-threatening disorder characterized by renal failure and the formation of blood clots in the small blood vessels throughout the body (thrombotic microangiopathy or TMA). In the UK, the total number of potential patients, typically children five years old or less, is only ~25.
    • 79% of patients with aHUS die within three years of diagnosis despite plasma exchange or plasma infusion. The majority of patients with aHUS who undergo a kidney transplant experience subsequent systemic TMA and face a 90% transplant failure rate.
    • Soliris first achieved regulatory clearance in 2007 in the U.S. and EU for the treatment of another ultra-rare life-threatening blood disorder called paroxysmal nocturnal hemoglobinuria (PNH). It was approved for aHUS in the U.S. and EU in 2011. Soliris is also cleared for sale for both indications in Japan and selected other countries.
    • A full regimen of Soliris costs ~$540,000, the world's most expensive drug until UniQure's Glybera (alipogene tiparvovec) leapfrogged it.
    • NICE recommended funding for Soliris for aHUS in September.
    • Previously: NICE recommends Soliris for aHUS
    • Previously: UniQure sets price record with Glybera
    | Comment!
  • 11:32 AM
    • “There’s no sign that we’re going to cure the overhang in the oil market” - Citigroup analyst Seth Kleinman.
    • “If you really need to hit shale production, oil’s going to have to be below $60."
    • “Coming into this meeting, OPEC needed to take big action and they needed to be united, and they’ve failed to do that completely.”
  • 10:48 AM
    • OPEC's decision to maintain its output target is “unambiguously bearish,” SocGen's Mike Wittner says.
    • “This will reverberate for years.”
    • OPEC is saying: “bring on lower prices and let the market do the job of throttling U.S. shale oil growth.”
    • Crude futures -3.7% to $70.97.
  • 10:30 AM
    • Failure to reform and shield weaker members threatens to divide the euro zone, announced ECB President Mario Draghi today, warning of the dangers should fears that some might quit the euro be revived.
    • "Lack of structural reforms raises the specter of permanent economic divergence between members," said Draghi. "And insofar as this threatens the essential cohesion of the Union, this has potentially damaging consequences for all."
    • Annual price inflation in Germany slowed to 0.5% in November, its lowest in nearly five years. Spanish consumer prices also fell for the fifth straight month.
    • The euro is -0.1% at $1.2492.
    | 1 Comment
  • 10:08 AM
    • Upgrades Barclays (NYSE:BCS) to Buy from Neutral.
    • Price target rises 10% to 300p (26% upside)
    • BOE's “more benign” leverage ratio means BCS is less likely to need additional capital, and will be under less pressure to shrink low risk-weight positions.
    • Barclays has the lowest leverage ratio of major U.K. lenders, and was considered most at risk from the BOE’s decision.
  • 10:00 AM
  • 7:52 AM
    • European Parliament lawmakers overwhelmingly voted in favor of a resolution urging antitrust regulators to consider splitting Internet search engines, such as Google (NASDAQ:GOOG), from other commercial services.
    • The controversial initiative will have no binding power over the European Commission, the bloc’s top antitrust regulator, but proponents of the measure hope it will add pressure.
  • 6:44 AM
    • Draft documents seen by Reuters show that the 2015 budgets of several European countries, including France, Italy and Belgium are at risk of breaking EU rules.
    • The Commission specifically picked out the three for a second compliance review to take place in March. This gives the countries more time to adjust policy before the EU executive decides whether to fine France for missing consolidation targets or put Italy and Belgium under a disciplinary procedure because of their debt.
    • On Friday, the Commission will publish the assessments of all of the draft budgets of the 18 euro zone countries, except Greece and Cyprus which remain under bailout programs.
  • 5:31 AM
    • Renewing its push into the Internet TV market, Alibaba (NYSE:BABA) and partner Haier Electronics (OTCPK:HRELY) have launched new TVs in China that provide users with access to the e-commerce company’s Taobao and Tmall online marketplaces as well as movies and video games.
    • Last year, Alibaba launched a smart TV with Chinese TV manufacturer Skyworth (OTCPK:SWDHY), but the product failed quickly because its online entertainment offerings were limited.
  • 5:11 AM
    | Comment!
  • 4:52 AM
    • SABMiller (OTCPK:SBMRY), Coca-Cola (NYSE:KO) and Gutsche Family Investments are merging their soft drinks bottling operations in South and East Africa to create the continent’s largest bottling operation with sales of $2.9B.
    • "The opportunity is significant, with favorable demographics and economic development pointing to excellent growth prospects," says SABMiller CEO Alan Clark.
    • Headquartered in South Africa, the new company will be 57% owned by the SABMiller, 31.7% by GFI and 11.3% owned by Coca-Cola.
    | Comment!
  • 4:30 AM
    • Danone (OTCQX:DANOY) is weighing a sale of its 20% stake in Japan's Yakult Honsha (OTCPK:YKLTY), Bloomberg reports.
    • The alliance between the two companies has been strained since last year after Yakult executives expressed opposition to Danone’s move to to increase its stake in the company.
    • Yakult shares closed down 6% in Tokyo following the news.
    | Comment!
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