Seeking Alpha
  • Today - Friday, August 22, 2014

  • 1:36 PM
    • CBS Outdoor (CBSO -1.5%) slips lower after Barrington downgrades the company to Market Perform from Outperform on a valuation call.
    • Shares of CBSO are up 14.4% since spinnning off from CBS in an IPO in March.
    | Comment!
  • 1:30 PM
    • Volatile/heavily-shorted 3D printing stocks are rallying strongly on a quiet late-August trading day. 3D Systems (DDD +3%), Stratasys (SSYS +4.2%), Voxeljet (VJET +11.8%), ExOne (XONE +5.4%), and Materialise (MTLS +2.9%) are among the gainers.
    • 3D Systems' short-interest was at a 52-week high of 36.1M shares (34% of the float) on July 31. A relatively modest 15% of Stratasys' float was shorted as of July 31. The figure was 26% for Voxeljet, and a whopping 51% for ExOne.
    | 1 Comment
  • 1:17 PM
    • The 140-room hotel in Stone Mountain, GA was sold for $1.5M, with the proceeds used to pay off the mortgage. Supertel (SPPR +12.6%) closed on the sale of the Savannah Suites in Jonesboro last month for $1.4M, and has the remaining 5 Savannah Suites on the block.
    • YTD, the company has now sold eight non-core assets for combined gross proceeds of $13.1M, with said proceeds used to pay down debt.
    • Source: Press Release
    | Comment!
  • 1:14 PM
    • The ITC has voted to impose anti-dumping duties on steel pipe imports from South Korea, India, Taiwan, Turkey, Saudi Arabia, Ukraine, and Vietnam. Tariffs as high as 118% can be assigned.
    • U.S. Steel (X +2.3%), among the companies to have filed an ITC complaint on the matter, is rallying. As is AK Steel (AKS +3.7%). A trade group estimates imports of "oil country tubular goods" (the focus of the ITC ruling) accounted for almost 2/3 of the U.S. market last year.
    • In a statement, U.S. Steel says it will "continue to evaluate all of its options." That includes "further litigation" against Saudi Arabia, which was excluded from the final ITC ruling due to an amended final determination by the DoC, and the Philippines and Thailand, who were fully exempted.
    | Comment!
  • 1:06 PM
    • Shares of Coffee Holdings (JVA +7.5%) are getting a jolt off the news that Keurig will distribute Kraft coffee brands for its brewing machines.
    • Coffee Holdings sells both private-label and branded coffee which compete with Kraft's products.
    | Comment!
  • 1:00 PM
     
    • Dow -0.06%.
    • 10-yr -0.06%.
    • Euro -0.3% vs. dollar.
    • Crude -0.56% to $93.43.
    • Gold +0.34% to $1,279.80.
    | Comment!
  • 12:59 PM
    • Salesforce's (NYSE:CRM) 33% Y/Y FQ2 billings growth was better than a Street forecast of 28%, says Nomura (Buy). The firm also estimates organic revenue growth was 28% (total growth was 38%), and notes op. cash flow grew 34% to $246M.
    • Nomura sees Salesforce's Microsoft partnership yielding favorable press this fall, and also thinks Salesforce will announce a new cloud service, possibly by leveraging recently-acquired CRM analytics startup RelateIQ.
    • BofA/Merrill (Buy) also talks up Salesforce's billings/cash flow growth, and points out the company's backlog ($7.35B) is now 24% above forward revenue estimates. FBR likes the fact op. margin (a recent concern, given heavy spending) rose 130 bps.
    • Goldman (Conviction Buy) observes FQ3 guidance implies ~25% billings growth, which in turn points to a pickup in organic growth. "We believe CRM continues to be the preeminent SaaS vendor with significant runway ahead."
    • On the CC (transcript), Salesforce mentioned it struck major deals with 3M and Safeway during FQ2, and expanded relationships with GM, P&G, and Yahoo (among others). The company also claimed European deal activity is picking up. Marc Benioff: "Europe tends to be a laggard when it comes to implementing new technology. And that has not escaped our cloud companies."
    • Prior Salesforce earnings coverage
    | Comment!
  • 12:53 PM
    • Phil Goldstein's Bulldog Investors discloses a 5.23% stake in American Select Portfolio (SLA +0.3%). At last check, the closed-end fund was trading at more than a 10% discount to NAV.
    | Comment!
  • 12:51 PM
    • Toyota (TM -1.4%) announces it will spend $100M to boost capacity at a plant in Indiana.
    • The investment will help the facility roll out an extra 30K Highlander crossover vehicles a year.
    • Sales of the model are up 18% YTD.
    | Comment!
  • 12:48 PM
    • Macy's (NYSE:M) declares $0.3125/share quarterly dividend, in line with previous.
    • Forward yield 2.03%
    • Payable Oct. 1; for shareholders of record Sept. 15; ex-div Sept. 11.
    | Comment!
  • 12:45 PM
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  • 12:26 PM
    • "A lot of blue sky in this name," tweets Citron Research today of China Finance Online (JRJC +8.5%).
    • The stock has more than doubled in the past few sessions following a deal to launch China's first online stock trading platform, and Citron temporarily dented the run yesterday after pointing out this is hardly the case. Citron forwards investors to JRJC's annual report where it says well-heeled competitors like Alibaba, Tencent, and Baidu have all recently launched Web-based financial platforms.
    | Comment!
  • 12:20 PM
    • Sysco Corporation (NYSE:SYY) declares $0.29/share quarterly dividend, in line with previous.
    • Forward yield 3.09%
    • Payable Oct. 24; for shareholders of record Oct. 3; ex-div Oct. 1.
    | Comment!
  • 12:19 PM
    • IPC The Hospitalist Company (IPCM -0.1%) acquires Daytona Beach-based Eddin Medical Services and Orlando area-based TriCounty Hospitalists. Both practices represent ~31K patient visits per year. Financial terms are not disclosed.
    | Comment!
  • 12:09 PM
    • Imperial Capital has launched coverage on MDM software vendor MobileIron (MOBL +3.2%) with an Outperform and $11 target, and on RFID hardware/software provider SuperCom (SPCB +5.7%) with an Outperform and $14 target.
    • "We believe MobileIron is positioned to capitalize on the network effect of its mobile ecosystem," writes Imperial's Michael Kim. He sees plenty of room for the company to grow sales to existing clients via cross-selling and up-selling, and to add to its customer base via channel partnerships.
    • MobileIron is now slightly above its $9 June IPO price. SuperCom is up 149% YTD.
    | 1 Comment
  • 12:06 PM
    • PPL Corporation (NYSE:PPL) declares $0.3725/share quarterly dividend, in line with previous.
    • Forward yield 4.37%
    • Payable Oct. 1; for shareholders of record Sept. 10; ex-div Sept. 8.
    | Comment!
  • 12:00 PM
     
    • Dow -0.12%.
    • 10-yr -0.11%.
    • Euro -0.33% vs. dollar.
    • Crude -1% to $93.02.
    • Gold +0.5% to $1,281.80.
    | Comment!
  • 11:59 AM
    • Accuray (ARAY +4.1%) fiscal Q4 and full year results:
    • Q4: Revenues: $102.0M (+20.1%); Gross Profit: $38.4M (+40.7%); Operating Expenses: $43.1M (+7.8%); Operating Loss: ($4.7M) (+63.0%); Net Loss: ($9.8M) (+47.6%); Loss Per Share: ($0.13) (+48.0%); Quick Assets: $171.9M (-1.4%).
    • Fiscal 2014: Revenues: $369.4M (+16.9%); Gross Profit: $142.8M (+46.3%); Operating Loss: ($18.1M) (+77.6%); Net Loss: ($35.4M) (+65.7%); Loss Per Share: ($0.47) (+64.7%).
    • Fiscal 2015 Guidance: Revenues: $390M - 410M; non-GAAP EBITDA: $18M - 27M.
    | Comment!
  • 11:57 AM
    • An estimated $1.4B, or 45% of portfolio inflow into emerging markets went into China - which represents only 20% of the MSCI Emerging Markets Index (ETF: EEM) - according to EPFR Global.
    • It's the 4th straight week of inflows for the country, and comes amid a 3rd quarter bull market, with FXI up 9%, MCHI up 8.4%, and EWH ahead 6.8%. The EEM rose just 2.8% and the iShares MSCI Asia ex-Japan ETF (NASDAQ:AAXJ) gained only 3.7%.
    • ETFs: FXI, PGJ, GXC, YINN, FXP, YANG, MCHI, XPP, YAO, YXI, CHXF, CN, FCA, ASHR, PEK, CHNA, KBA
    | Comment!
  • 11:42 AM
    • Family Dollar (FDO +0.4%) is open to taking Dollar General's (DG +0.5%) $9B offer for the company if it agrees to divest enough stores in the combination to appease regulators, sources tell Bloomberg.
    • The company doesn't think Dollar General's current proposal to shed 700 stores goes far enough.
    • Shares of Dollar Tree (DLTR +0.1%) are on watch as the drama unfolds.
    | Comment!
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