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  • Wednesday, January 28, 2015

  • 10:27 PM
    • The CEO change at McDonald's (NYSE:MCD) is a signal to investors the company is serious about changing the status quo, according to analysts.
    • The restaurant giant, which is coming off a 4.1% comp slide in 2014 and has already warned on pressure through the first half of the year, has also hired a new CFO and created a Chief Administrative Officer position.
    • Much of the skepticism over the ability of the 36K-store chain to grow sales again hinges on a brand viewed by consumers as in decline (bloated menu, poor service, unhealthy) and being passed over by millennials.
    • Irony check: Greasy burgers are still selling, just not at McDonald's
    • Numbers check: Mickey D's Dec. U.S. comps -1.7% vs. +3.1% for the sector.
    • Shares of MCD rose 3.39% to $91.79 in after hours trading.
    | 22 Comments
  • 10:12 PM
    • Quidel (NASDAQ:QDEL) will report Q4 and full-year results on February 11 after the close. The conference call will begin at 5:00 pm ET.
    • Consensus views for Q4 and 2014 are earnings per share of $0.10 and a loss per share of ($0.31) on revenues of $60.6M and $179.6M, respectively.
    | Comment!
  • 10:08 PM
    • Flex Pharma (Pending:FLKS) prices its IPO at $16 per share and ups the number of shares offered to 5.4M. Underwriters over-allotment is an additional 810K shares. Trading will begin tomorrow.
    | Comment!
  • 10:04 PM
    • Entellus Medical (Pending:ENTL) prices its IPO at $17 per share and ups the number of shares to 4,603,580. Underwriters over-allotment is an additional 690,537 shares. Closing date is February 3.
    • Previously: Entellus Medical on deck for IPO (Jan. 25)
    | Comment!
  • 8:20 PM
    • Samsung (OTC:SSNLF) had Q4 revenue of KRW52.73T ($48.6B, -11% Y/Y) and operating profit of KRW5.29T ($4.9B, -36%); the latter was slightly above guidance of KRW5.2T. Net profit fell 28% to KRW5.35T.
    • With competition from Apple and Chinese OEMs taking a toll, mobile revenue fell 23% to KRW25T. On the other hand, strong DRAM demand/pricing and NAND growth led memory sales to rise 25% to KRW8.18T. Growing TV panel and mobile OLED panel demand helped display sales rise 9% to KRW7.05T. Consumer electronics sales were flat at KRW14.3T.
    • Smartphone/tablet and TV sales are expected to fall in Q1 due to seasonality. TV sales for the whole of 2015 are expected to rise, aided by strong 4K TV demand. Tablet sales are also expected to grow, but no similar forecast is made for phones.
    • Mobile and server DRAM demand is expected to remain strong in 2015, with the former boosted by the adoption of high-res phone displays. NAND flash sales are expected to benefit from server/SSD demand, and LSI (logic/foundry) sales by the 14nm process ramp.
    • OLED panel shipments are expected to rise in seasonally weak Q1 due to new products (the Galaxy S6?), and grow over the whole of 2015 via the expansion of Samsung's customer base - Universal Display (NASDAQ:OLED) should be pleased to hear that. A healthy supply/demand balance is expected to remain for LCD panels.
    • Samsung ended Q4 with over KRW50T ($46B) in net cash, and KRW17.9T ($16.4B) in investments. Shares are up 0.9% in Seoul.
    • Q4 earnings slides (.pdf)
    | 11 Comments
  • 7:43 PM
    • With just days to spare before Sunday's Super Bowl, NBCUniversal (CMCSA -3.1%) says it's sold out of ad inventory for the big game, and will feature more than 70 national commercials.
    • That's a little closer than they might have liked -- much later than last year's sellout, which Fox (NASDAQ:FOX) achieved almost two months beforehand -- but this year at a higher price, a record $4.5M average per 30-second spot, and record total dollar volume.
    • Auto advertisers in particular had been objecting to the premium pricing over the past year. Fifteen "rookie" advertisers join the ranks in 2015.
    • Pre-show and post-show ads (cheaper than during the game, but still dear) are sold out as well.
    • The last time it broadcast the Super Bowl, in 2012, NBC sold out ads on Jan. 3 (for $3.5M/30-second spot), but had slightly more inventory this time around.
    • Previously: Madison Avenue cautious with Super Bowl XLIX (Jan. 07 2015)
    | 1 Comment
  • 7:36 PM
    • ServiceNow (NYSE:NOW) expects Q1 revenue of $207M-$212M (above a $203M consensus) and billings of $260M-$265M. Full-year revenue guidance is at $960M-$1B, +41%-47% Y/Y and above a $949M consensus.
    • Q4 billings totaled $269.4M, +62% Y/Y, well above revenue of $198M, and above guidance of $245M-$250M. The deferred revenue balance rose 20% Y/Y to $422.2M, and the customer base grew by 211 Q/Q to 2,725. Combined backlog/deferred revenue stood at $1.4B (+57% Y/Y) at the end of Q4.
    • Operating expenses rose 47% Y/Y to $125.9M, with sales/marketing spend accounting for $78M.
    • Q4 results, PR
    | Comment!
  • 7:27 PM
    • Even though the energy sector has been under selling pressure for months, up until recently the list of the 35 stocks in the S&P 1500 with more than 25% of their free-floating shares sold short only contained a few stocks from the group.
    • This has changed dramatically, Bespoke reports, as 10 of the 35 stocks are now from the energy sector; leading the way lower are Swift Energy (NYSE:SFY), Rex Energy (NASDAQ:REXX) and Comstock Resources (NYSE:CRK).
    • Also on the list: PGN, CRR, RIG, PVA, AREX, DO, NOG.
    • Another bearish indicator: The average short interest as a percentage of float for energy stocks is now 9.5%, the highest since at least 2008 and 55% above the average reading over that time period.
    | 9 Comments
  • 7:22 PM
    • Ballard (NASDAQ:BLDP) customer/Belgian vehicle maker Van Hool has "signed a grant agreement with the EU Hydrogen Fuel Cell Joint Undertaking for deployment of 21 fuel cell buses in Europe as part of the 3Emotion Program."
    • An equipment supply agreement is being finalized for the delivery of 21 Ballard FCvelocity-HD7 fuel cell modules. Delivery is expected in 2015 and 2016. 27 Van Hool buses featuring Ballard modules are already in operation.
    • Ballrd has risen to $1.66 in AH trading.
    | Comment!
  • 7:15 PM
    • Merrill Lynch makes the case in a new report that many fundamentals still favor keeping a position in the utilities sector even after a period of gains, and 24/7 Wall Street screened for the firm's top five Buy-rated utilities with the highest yields.
    • The list is headed by Edison International (NYSE:EIX), which makes Merrill's US 1 list; EIX raised the quarterly dividend paid to shareholders by 17.6% back in December, signaling a strong commitment to investors.
    • Dominion Resources (NYSE:D) is expected to grow its dividend by 7% this year, in line with the past four; the report says many Wall Street analysts believe new EPA regulations actually could provide a boost for the company.
    • Also named: AES, PPL, UIL.
    | 1 Comment
  • 7:09 PM
    • James Scully, formerly J. Crew's COO and before that its CFO, has been named Avon's (NYSE:AVP) new CFO. He'll start "no later than April 1, 2015."
    • News of Scully's hiring comes four months after his predecessor, Kimberly Ross, resigned to become Baker Hughes' CFO.
    | 1 Comment
  • 7:00 PM
    • After guiding for 50%-70% non-GAAP 2015 spending growth in October, Facebook (NASDAQ:FB) has lowered its range to 50%-55% (still above a 37% revenue growth consensus). GAAP guidance is at 55%-70%. The 2015 capex budget has been set at $2.7B-$3.2B (17% of the revenue consensus at the midpoint). Headcount rose by 45% in 2014 to 9,200. (live blogs: WSJ, BI)
    • Sheryl Sandberg states Facebook, which autoplays videos as users scroll down their news feeds (audio playback requires user interaction), now sees 3B daily video views from uploaded content, and that over half of all U.S. daily users see at least one video.
    • She reiterates Facebook is still in the early stages of monetizing its video traffic, as well as Instagram. New ad measurement/relevance tools will roll out to advertisers this year.
    • CFO Dave Wehner notes forex is expected to have a 5% impact on 2015 revenue growth. International markets were 52% of Q4 revenue, with Europe at 27%.
    • Mark Zuckerberg states Facebook has indexed a trillion posts for search, and is just beginning to build out effective search tools for combing this material. The company is a month removed from overhauling its search engine and dumping Bing.
    • Other details: 1) Though PC traffic was down due to the mobile shift, PC ad sales rose 1%. 2) Game-related payments revenue fell 10%, even as total payments/fees revenue grew 7%. 3) Zuck states average daily time spent per user is up 10% Y/Y, and that 2B+ photos are now shared daily on Facebook. 4) ARPU rose to $2.81 from $2.14 a year ago. North American ARPU was $9.00.
    • FB -1.7% AH. Q4 results, details, earnings slides (.pdf)
    | 15 Comments
  • 6:58 PM
    • General Motors (NYSE:GM) again rejects a request by U.S. senators to extend its Jan. 31 deadline to file claims from its ignition switch compensation fund.
    • Two senators - Blumenthal of Connecticut and Markey of Massachusetts, who have been particularly critical of GM - sent a letter yesterday to CEO Mary Barra urging an extension of the deadline until the Justice Department completes its probe into the GM's recall delay, but the company says it has "conducted extensive outreach about the program and contacted more than 5M current and former owners of the recalled vehicles."
    • The compensation program had received 3,068 claims as of last Friday, and has confirmed 50 eligible death claims and 75 eligible injury claims.
    | 15 Comments
  • 6:31 PM
    • Citigroup's energy team lowers earnings estimates by an average of 20% on U.S. refiners such as Marathon Petroleum (NYSE:MPC) and Phillips 66 (NYSE:PSX) even while reaffirming its bullish stance on the group, believing crude oil differentials eventually will widen back out over the next 12-18 months once oil storage reaches capacity.
    • After running the numbers, Citi's estimates for MPC and PSX are above consensus, and figures MPC likely will post higher Y/Y earnings in 2015 despite the recent decline in crude spreads.
    • However, the firm downgrades Tesoro (NYSE:TSO) to Neutral from Buy on valuation.
    | Comment!
  • 6:21 PM
    • Cavium (NASDAQ:CAVM) has guided on its Q4 CC (webcast) for Q1 EPS of $0.38-$0.40, above a $0.37 consensus.
    • The network processor/ARM server CPU developer is up to $64 in AH trading. Its 52-week high is $64.61.
    • Q4 results, PR
    | Comment!
  • 6:15 PM
    • Qualcomm (NASDAQ:QCOM) partly blames its soft FY15 (ends Sep. '15) guidance on "a shift in share among OEMs at the premium tier, which has reduced our near-term opportunity for sales of our integrated Snapdragon" processors." That's undoubtedly a reference to Apple, which (though using Qualcomm's 4G baseband modems and other ICs) relies on its home-grown A-series app processors, and just reported huge FQ1 iPhone sales.
    • The mobile chip/IP giant also cites "heightened competition in China," where its issues are well-known and MediaTek/Intel have been hungry to gain share, and "expectations that our Snapdragon 810 processor will not be in the upcoming design cycle of a large customer's flagship device." Bloomberg has reported Samsung won't use the 810 in its Galaxy S6 (ostensibly due to overheating issues), instead relying on its own (Exynos) processors.
    • In addition to a Snapdragon processor (the 805), Qualcomm supplies a 4G baseband modem and several other ICs for many Galaxy S5 models. It's unknown if Samsung, which has developed an app processor with an integrated 4G baseband, will be using similar Qualcomm parts in the S6.
    • On the bright side, Qualcomm says it has resolved a dispute with a Chinese licensee. But it still believes other Chinese licensees aren't fully complying with their obligations.
    • QCT (chip division) sales rose 14% Y/Y in FQ1 to $5.2B, and division op. profit rose 26% to $1.15B. With China taking a toll, QTL (licensing division) revenue fell 4% to $1.82B, and op. profit 5% to $1.58B.
    • $1.7B was spent on buybacks. Qualcomm ended FQ1 with $31.6B in cash/marketable securities (equal to 29% of its current market cap), and no debt. Shares are down to $65.32 AH.
    • FQ1 results, PR
    | 7 Comments
  • 6:13 PM
    • Imperial Oil (NYSEMKT:IMO) says it is considering the sale of its 500 remaining company-owned Esso retail fuel stations to independent third-party operators.
    • The Exxon Canadian subsidiary says most of its 1,700 Esso sites in Canada already operate under that model, in which IMO supplies fuel to third parties who own and/or operate the sites under the Esso banner; the new action covers the remaining sites, and will involve a non-binding bid process.
    • IMO also says it will look at growth opportunities for its On the Run convenience store brand in Canada.
    | 1 Comment
  • 6:05 PM
    | Comment!
  • 6:00 PM
     
    • S&P +0.03%.
    • 10-yr -0.02%.
    • Euro -0.12% vs. dollar.
    • Crude flat to $44.39.
    • Gold -0.14% to $1,284.20.
    | Comment!
  • 5:56 PM
    • The market is underestimating how quickly oil companies are scaling back their activities, and as a result oil prices could rebound faster than expected, Continental Resources (NYSE:CLR) CEO Harold Hamm says.
    • Daily oil production from the biggest plays - the Bakken, Permian Basin and Eagle Ford - could even start to decrease mid-year or even earlier, according to Hamm, which would be sooner than forecast; many observers have said production probably would increase this year even if drilling activity slows.
    • "U.S. producers will demonstrate market discipline and act uniformly. We have the same market forces on us, so we do the same thing," Hamm says.
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 59 Comments
  • 5:55 PM
    • SI Financial (NASDAQ:SIFI): Q4 EPS of $0.11
    • Revenue of $12.48M (-1.3% Y/Y)
    • Press Release
    | Comment!
  • 5:51 PM
    • Kilroy Realty (NYSE:KRC): Q4 FFO of $0.78 beats by $0.06.
    • Revenue of $141.8M (+19.6% Y/Y).
    • Press Release
    | Comment!
  • 5:48 PM
    • Ohio Valley (NASDAQ:OVBC): Q4 EPS of $0.10
    • Revenue of $9.96M (+7.9% Y/Y).
    • Press Release
    | Comment!
  • 5:45 PM
    • McDonald's (NYSE:MCD) says Don Thompson is retiring as president and CEO of the company.
    • Current Chief Brand Officer Steve Easterbrook has been elected to replace Thompson.
    • Shares +2.6% after hours.
    | 40 Comments
  • 5:44 PM
    • Along with its Q4 numbers, Citrix (NASDAQ:CTXS) has announced it's laying off 700 full-time employees (8% of them) and 200 contractors through a restructuring expected to yield $90M-$100M/year in pre-tax savings. Pre-tax charges of $49M-$55M are expected.
    • With forex taking a toll (and perhaps also VMware's end-user computing growth), Q1 guidance is for revenue of $780M-$790M and EPS of $0.70-$0.72, below a consensus of $796.7M and $0.80. Full-year guidance is for revenue of $3.29B-$3.33B and EPS of $3.60-$3.65, below a consensus of $3.36B and $3.69.
    • Product/license revenue (drives future update/maintenance revenue) rose 1% Y/Y in Q4 to $267.4M; SaaS rose 12% to $168.4M; license update/maintenance rose 9% to $367M; and professional services rose 26% to $48.8M.
    • 3.3M shares were repurchased in Q4, and 26.1M over the whole of 2014.
    • Q4 results, PR
    | Comment!
  • 5:43 PM
    • BancorpSouth (NYSE:BXS) declares $0.075/share quarterly dividend, in line with previous.
    • Forward yield 1.51%
    • Payable April 1; for shareholders of record March 16; ex-div March 12.
    | Comment!
  • 5:42 PM
    • Tallgrass Energy Partners (NYSE:TEP) owner Tallgrass GP Holdings says it will file for an IPO to form a new entity that would own, directly or indirectly, all of TEP's incentive distribution rights, TEP's general partner interest, and some common units representing limited partner interests in TEP.
    • Despite the difficulties in the current broader energy environment, TEP reached a 52-week high today at $50.92.
    | Comment!
  • 5:35 PM
  • 5:35 PM
     
    | 2 Comments
  • 5:33 PM
    • Teradyne (NYSE:TER): Q4 EPS of $0.14 beats by $0.02.
    • Revenue of $323M (+13.2% Y/Y) beats by $4.33M.
    • Press Release
    | Comment!
  • 5:33 PM
    • Artesian Resources (NASDAQ:ARTNA) declares $0.2151/share quarterly dividend, in line with previous.
    • Forward yield 3.86%
    • Payable Feb. 23; for shareholders of record Feb. 11; ex-div Feb. 9.
    | Comment!
  • 5:30 PM
  • 5:28 PM
    • Potash (NYSE:POT) declares $0.38/share quarterly dividend, 8.6% increase from prior dividend of $0.35.
    • Forward yield 4.2%
    • Payable May 4; for shareholders of record April 13; ex-div April 9.
    | 2 Comments
  • 5:27 PM
    • IDEX (NYSE:IEX): Q4 EPS of $0.89 beats by $0.02.
    • Revenue of $524M (+0.6% Y/Y) misses by $11.52M.
    • Press Release
    | Comment!
  • 5:26 PM
    • With Intel's Grantley Xeon server CPU launch providing a big tailwind, Mellanox (NASDAQ:MLNX) expects Q1 revenue of $140M-$145M, above a $135.4M consensus.
    • CEO Eyal Waldman declares the Q4 beat was fueled by 40G Ethernet adoption by major clients, growing HPC deployments (boosted by share gains), and "additional penetration into Web 2.0, storage and cloud markets." Mellanox's 100G InfiniBand offerings are expected to see initial deployments in Q1, as are its 25/50/100G Ethernet adapters and cables.
    • Gross margin rose 300 bps Y/Y in Q4 to 72.3%; it's expected to be at 70%-71% in Q1. Opex rose 14% to $73M.
    • Mellanox ended Q4 with $389M in cash/investments, and no debt. Jefferies' downgrade wasn't timed well.
    • Q4 results, PR
    | Comment!
  • 5:24 PM
    • Murphy Oil (NYSE:MUR): Q4 EPS of $0.39 beats by $0.08.
    • Revenue of $1.41B (+4.4% Y/Y) beats by $180M.
    • Press Release
    | Comment!
  • 5:20 PM
    • Big oil companies such as Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX) and Royal Dutch Shell (RDS.A, RDS.B) are betting too much on a return to higher oil prices, Citigroup says.
    • The industry now looks to be adopting a slightly adjusted Plan A, with some capex cuts and cost-control but still with a fundamental view that higher oil prices will come to the rescue, CIti says, convinced that best results will be achieved only if the industry commits to full self-help action - Plan B - where the underlying principle is that oil prices may not recover any time soon.
    • Citi recommends buying the companies closest to moving to Plan B - Total (NYSE:TOT), BP and ConocoPhillips (NYSE:COP) - and avoid those still stuck on Plan A - Exxon, Chevron and Shell.
    | 59 Comments
  • 5:16 PM
    • XenoPort (NASDAQ:XNPT) commences an offering of $100M aggregate principal amount of convertible senior notes due 2022 in a private placement to institutional buyers. Initial purchasers will have a 30-day option to purchase an additional $15M aggregate principal amount.
    • Net proceeds will fund the continued commercialization of Horizant, the development of XP23829 and general corporate purposes.
    | Comment!
  • 5:16 PM
    • Albemarle (NYSE:ALB): Q4 EPS of $0.99 misses by $0.04.
    • Revenue of $598.57M (-6.4% Y/Y) misses by $40.48M.
    • Press Release
    | Comment!
  • 5:13 PM
    • Kearny Financial (NASDAQ:KRNY): Q4 EPS of $0.03 misses by $0.02.
    • Net interest income of $19.57M (+5.9% Y/Y) beats by $0.09M.
    • Press Release
    | Comment!
  • 5:13 PM
    • In its first quarter as a merged company (FQ4), Qorvo (NASDAQ:QRVO) expects revenue of $615M-$625M and EPS of $0.80-$0.90 vs. a consensus of $619M and $0.82. Expectations were high going in, following strong numbers from peers and major client Apple.
    • Total FQ3 revenue was $742M - $397.1M from RF Micro, $344.9M from TriQuint - beating a consensus of $723.4M. EPS of $1.46 topped a $1.16 consensus.
    • RF Micro had an FQ3 gross margin of 49.3%, up from 48% in FQ2 and 39.7% a year earlier. TriQuint had a gross margin of 48.8%, up from 46.6% in FQ2 and 37.2% a year ago. The combined company expects a GM of 46%-48% in seasonally weak FQ4, and a tax rate of just 5%-10%.
    • FQ3 results, PR
    | 1 Comment
  • 5:12 PM
    • Liberty Interactive (QVCA,LVNTA,LVNTB) will pay an extraordinary cash distribution totaling $53.8M to holders of its 1% Exchangeable Senior Debentures due 2043.
    • The payout is tied to a $10 special dividend issued by HSN (NASDAQ:HSNI) for its shareholders of record Feb. 9.
    • With HSNI paying out its dividend on Feb. 19, Liberty will pay its distribution of $134.58/debenture on March 19, to debenture holders of record March 5.
    | Comment!
  • 5:12 PM
    • Daily Journal (NASDAQ:DJCO): FY2014 Net Income of $0.63M
    • Revenue of $43.42M (+15.2% Y/Y).
    • Press Release
    | Comment!
  • 5:10 PM
    • Auburn National Bancorporation (NASDAQ:AUBN): Q4 EPS of $0.52
    • Revenue of $6.56M (-11.6% Y/Y)
    • Press Release
    | Comment!
  • 5:09 PM
    • First Connecticut (NASDAQ:FBNK): Q4 EPS of $0.21 beats by $0.03.
    • Revenue of $18.89M (+15.2% Y/Y) misses by $0.04M.
    • Press Release
    | Comment!
  • 5:08 PM
    • After an accounting review by the Board's Audit Committee, in consultation with others, Salix Pharmaceuticals (NASDAQ:SLXP) announces that its financial statements for 2013 and the first three quarters of 2014 contain errors and should no longer be relied upon. The errors are primarily related to the timing of the recognition of certain revenue, revenue-reducing returns and discounts and expense items.
    • The corrections will reduce net product revenue and net income $20.1M and $11.8M ($0.18 per share), respectively, for 2013. For the first three quarters of 2014, net product revenues will be reduced by $0.7M with no change in net loss.
    • Salix expects to file the revised statements with the SEC prior to filing its 10-K on or before March 2.
    • Investors appear unconcerned. Shares are up 1% after hours on light volume.
    | 2 Comments
  • 5:06 PM
    • American States Water (NYSE:AWR) declares $0.213/share quarterly dividend, in line with previous.
    • Forward yield 2.11%
    • Payable March 2; for shareholders of record Feb. 17; ex-div Feb. 12.
    | Comment!
  • 5:05 PM
    • Brookline Bancorp (NASDAQ:BRKL): Q4 EPS of $0.15 in-line.
    • Net interest income of $47.57M (+8.7% Y/Y) beats by $1.12M.
    • Press Release
    | Comment!
  • 5:05 PM
    • SI Financial (NASDAQ:SIFI) declares $0.04/share quarterly dividend, 33.3% increase from prior dividend of $0.03.
    • Forward yield 1.45%
    • Payable Feb. 23; for shareholders of record Feb. 4; ex-div Feb. 2.
    | Comment!
  • 5:04 PM
    • Marathon Oil (NYSE:MRO) declares $0.21/share quarterly dividend, in line with previous.
    • Forward yield 3.29%
    • Payable March 10; for shareholders of record Feb. 18; ex-div Feb. 13.
    | Comment!
  • 5:04 PM
    • Camden Property Trust (NYSE:CPT): Q4 FFO of $1.10 beats by $0.11.
    • Revenue of $216.46M (+5.9% Y/Y) beats by $1.95M.
    • Press Release
    | Comment!
  • 5:03 PM
    | Comment!
  • 5:03 PM
    • Camden Property Trust (NYSE:CPT) declares $0.70/share quarterly dividend, 6.1% increase from prior dividend of $0.66.
    • Forward yield 3.5%
    • Payable April 17; for shareholders of record March 31; ex-div March 27.
    | Comment!
  • 5:03 PM
    • Kirby (NYSE:KEX): Q4 EPS of $1.19 beats by $0.04.
    • Revenue of $668.3M (+17.6% Y/Y) beats by $59.5M.
    • Press Release
    | Comment!
  • 5:01 PM
    • Chevron (NYSE:CVX) declares $1.07/share quarterly dividend, in line with previous.
    • Forward yield 4.13%
    • Payable March 10; for shareholders of record Feb. 17; ex-div Feb. 12.
    | 4 Comments
  • 5:01 PM
    • Severn Bancorp (NASDAQ:SVBI): Q4 EPS of $0.09.
    • Revenue of $7.35M (+8.2% Y/Y).
    • Press Release
    | Comment!
  • 5:00 PM
     
    • S&P +0.12%.
    • 10-yr -0.02%.
    • Euro flat vs. dollar.
    • Crude -0.02% to $44.38.
    • Gold -0.13% to $1,284.30.
    | Comment!
  • 5:00 PM
    • McDonald's (NYSE:MCD) declares $0.85/share quarterly dividend, in line with previous.
    • Forward yield 3.83%
    • Payable March 16; for shareholders of record March 2; ex-div Feb. 26.
    | Comment!
  • 4:59 PM
    | Comment!
  • 4:59 PM
    • SL Green Realty (NYSE:SLG): Q4 FFO of $1.45 in-line.
    • Revenue of $386.62M (+10.3% Y/Y) beats by $92.92M.
    • Press Release
    | Comment!
  • 4:58 PM
    • Core Labs (NYSE:CLB) -12.9% AH after Q4 results come in as expected but Q1 is guided lower, now seeing EPS of $1.05-$1.10 vs. $1.33 analyst consensus estimate and revenues of $230Mvs. $245.7M consensus.
    • CLB says it may enjoy some insulation from the industry downturn because of its technology and its clients' historical flight to value-added service providers, but warns that North American land rig counts will continue to fall sharply into Q2 while deepwater Gulf of Mexico activities continue at or near Q4 2014 levels.
    | Comment!
  • 4:57 PM
    • ESSA Bancorp (NASDAQ:ESSA): FQ1 EPS of $0.25.
    • Revenue of $12.86M (+15.8% Y/Y).
    • Press Release
    | Comment!
  • 4:55 PM
    • Sixteen other banks have settled with the FHFA over boom-era mortgages, but Nomura (NYSE:NMR) - firm in its belief it did nothing wrong, and also asserting Frannie may not suffer losses on the $2B of MBS it bought - is balking against the $300M settlement being offered.
    • If there is no settlement, a trial is set to begin in March.
    • One law professor suggests Nomura, without a big U.S. presence, has a little less headline risk to worry about in a trial than shops like Goldman or Bank of America.
    | Comment!
  • 4:55 PM
    • Astoria Financial (NYSE:AF): Q4 EPS of $0.17 beats by $0.01.
    • Net interest income of $83.92M (-3.3% Y/Y) misses by $0.49M.
    • Press Release
    | Comment!
  • 4:54 PM
    • Provident Financial (NASDAQ:PROV) declares $0.11/share quarterly dividend, in line with previous.
    • Forward yield 2.82%
    • Payable March 12; for shareholders of record Feb. 18; ex-div Feb. 13.
    | Comment!
  • 4:54 PM
    • Midcoast Energy (NYSE:MEP) declares $0.3425/share quarterly distribution, 1.5% increase from prior distribution of $0.3375.
    • Forward yield 11.68%
    • Payable Feb. 13; for shareholders of record Feb. 6; ex-div Feb. 4.
    | Comment!
  • 4:54 PM
    • Newbridge Bancorp (NASDAQ:NBBC): Q4 EPS of $0.11 misses by $0.02.
    • Net Interest Income of $21.30M (+26.0% Y/Y) beats by $0.49M.
    • Press Release
    | Comment!
  • 4:53 PM
    • Mueller Water Products (NYSE:MWA) declares $0.02/share quarterly dividend, in line with previous.
    • Forward yield 0.7%
    • Payable Feb. 20; for shareholders of record Feb. 10; ex-div Feb. 6.
    | 2 Comments
  • 4:52 PM
    • Umpqua Holdings (NASDAQ:UMPQ): Q4 EPS of $0.27 misses by $0.02.
    • Revenue of $277.84M (+103.0% Y/Y) misses by $9.62M.
    • Press Release
    | Comment!
  • 4:50 PM
    • Varian Medical Systems (NYSE:VAR) Fiscal Q1 Results ($M): Total Revenues: 737.9 (+3.7%); Total Gross Orders: 725.8 (+10.7%), Oncology Systems: 561.7 (+5.3%), Imaging Systems: 162.7 (+50.4%); Order Backlog: 3,124.3 (+12.9%).
    • COGS: 410.9 (+2.2%); R&D Expense: 57.1 (-1.6%); SG&A Expense: 140.4 (+28.1%); Net Income: 93.3 (-4.8%); EPS: 0.92 (+1.1%); Quick Assets: 972.9 (-6.9%).
    • Gross Profit: 327.0 (+5.6%); COGS: 55.7% (-1.4%); Gross Margin: 44.3% (+1.8%); Operating Earnings: 129.5 (-8.8%); Operating Earnings Yield: 17.5% (-12.1%); Net Earnings Yield: 12.6% (-8.2%).
    • 2015 Guidance: EPS: $4.16 - 4.26 (unch); Total Revenue Growth: ~5%; Oncology/Imaging Sales Growth: 5 - 6%.
    • Fiscal Q2 Guidance: Oncology/Imaging Sales Growth: 0 - 2%; EPS: $0.98 - 1.02 from $0.76 - 0.80.
    | Comment!
  • 4:49 PM
    • Celadon (NYSE:CGI) declares $0.02/share quarterly dividend, in line with previous.
    • Forward yield 0.34%
    • Payable April 20; for shareholders of record April 3; ex-div March 31.
    | Comment!
  • 4:47 PM
    • Though the Nasdaq fell 0.9%, Arista (NYSE:ANET) closed up 2.9% on healthy volume.
    • Possibly helping: Juniper beat Q4 estimates yesterday afternoon, and offered better-than-expected Q1 guidance. However, it's worth noting Juniper (unlike Arista) gets a majority of its revenue from carriers rather than enterprises/governments.
    • Northland issued an upbeat note about Arista yesterday, arguing the company will benefit from top client Microsoft's aggressive cloud spending. The firm suspects Microsoft, which spent $1.5B on capex in calendar Q4 and expects to spend more in Q1, makes up nearly 20% of Arista's revenue. Nonetheless, it maintains a Market Perform rating on valuation and legal risk concerns.
    | Comment!
  • 4:47 PM
    • National American University (NASDAQ:NAUH) declares $0.045/share quarterly dividend, in line with previous.
    • Forward yield 5.81%
    • Payable April 17; for shareholders of record March 31; ex-div March 27.
    | Comment!
  • 4:47 PM
    • Q4 net income of $33.5M or $0.31 per share vs. $32.4M and $0.30 in Q3. Q4 dividend was $0.34.
    • Net interest spread of 1.10% up one basis point.
    • Prepayments fell 160 basis points (mostly seasonal factors) to 17.58%.
    • Book value of $12.52 per share down from $12.60. Today's close of $12.25 is a 2.2% discount to book.
    • Management: "Future levels of mortgage prepayments will be key to our portfolio yields and operating results in the coming quarters ... Recent declines in longer-term U.S. Treasury rates, if sustained, could put downward pressure on mortgage interest rates, leading to higher mortgage prepayment levels."
    • Earnings call tomorrow at 9 ET
    • Previously: Capstead Mortgage misses by $0.02, beats on revenue (Jan. 28)
    • CMO flat after hours
    | Comment!
  • 4:46 PM
    • Tetra Tech (NASDAQ:TTEK) declares $0.07/share quarterly dividend, in line with previous.
    • Forward yield 1.18%
    • Payable Feb. 26; for shareholders of record Feb. 11; ex-div Feb. 9.
    | Comment!
  • 4:46 PM
    • Celadon (NYSE:CGI): FQ2 EPS of $0.36 beats by $0.04.
    • Revenue of $222.37M (+14.9% Y/Y) beats by $0.54M.
    • Press Release
    | Comment!
  • 4:46 PM
    | Comment!
  • 4:45 PM
    • DHT Holdings (NYSE:DHT): Q4 EPS of $0.31 may not be comparable to consensus of $0.07.
    • Revenue of $72.85M (+135.5% Y/Y) beats by $16.42M.
    • Press Release
    | Comment!
  • 4:45 PM
    • Penske Automotive (NYSE:PAG) declares $0.22/share quarterly dividend, 4.8% increase from prior dividend of $0.21.
    • Forward yield 1.79%
    • Payable March 2; for shareholders of record Feb. 10; ex-div Feb. 6.
    | Comment!
  • 4:45 PM
    • Avery Dennison (NYSE:AVY) declares $0.35/share quarterly dividend, in line with previous.
    • Forward yield 2.7%
    • Payable March 18; for shareholders of record March 4; ex-div March 2.
    | Comment!
  • 4:45 PM
    • Newspaper firm Lee Enterprises (NYSE:LEE) will report preliminary fiscal Q1 earnings before the market open on Feb. 5.
    • Its webcast/conference call is set for 9 a.m. ET that day.
    • Expectations are for EPS of $0.15 on revenue of $175M.
    | Comment!
  • 4:44 PM
    • West (NASDAQ:WSTC): Q4 EPS of $1.15 beats by $0.38.
    • Revenue of $716.24M (+4.2% Y/Y) beats by $26.14M.
    • Press Release
    | Comment!
  • 4:43 PM
    • MainSource Financial (NASDAQ:MSFG) declares $0.13/share quarterly dividend, 18.2% increase from prior dividend of $0.11.
    • Forward yield 2.77%
    • Payable March 16; for shareholders of record March 6; ex-div March 4.
    | Comment!
  • 4:43 PM
    • Cirrus Logic (NASDAQ:CRUS) expects FQ4 revenue of $220M-$240M, well above a $198.8M consensus. With shares having risen 5.8% in regular trading (making new 52-week highs along the way) thanks to Apple's numbers, a lot of good news was priced in.
    • FQ3 GAAP gross margin was 43.8%, down from 47.8% in FQ2 and 47.4% a year ago, but near the high end of guidance of 42-44%. Excluding acquisition-related costs, operating expenses (boosted by the Wolfson acquisition and  smart codec R&D) rose 63% to $83.3M.
    • Portable products revenue (Apple-dominated) rose 39% to $253.4M. Consumer, auto, and other products rose 22% to $45.3M.
    • CRUS +1.6% AH to $28.00. FQ3 results, PR
    | 3 Comments
  • 4:43 PM
    • AvalonBay Communities (NYSE:AVB) declares $1.25/share quarterly dividend, 7.8% increase from prior dividend of $1.16.
    • Forward yield 2.82%
    • Payable April 15; for shareholders of record March 31; ex-div March 27.
    | Comment!
  • 4:43 PM
    • Antero Resources (NYSE:AR) says proved reserves at year-end 2014 rose 66% Y/Y to 12.7T cfe, comprised of 83% natural gas, 16% natural gas liquids and 1% oil; the Marcellus Shale accounted for 94% of proved reserves.
    • Proved, probable and possible reserves at year-end 2014 totaled 40.7T cfe, up 16% Y/Y; pre-tax PV10 of proved reserves increased 89% to $11.3B.
    • AR +0.9% AH.
    | Comment!
  • 4:42 PM
    • Courier Corp (NASDAQ:CRRC) declares $0.21/share quarterly dividend, in line with previous.
    • Forward yield 3.56%
    • Payable Feb. 27; for shareholders of record Feb. 13; ex-div Feb. 11.
    | Comment!
  • 4:41 PM
    • California Water Service (NYSE:CWT) declares $0.17/share quarterly dividend, 3.1% increase from prior dividend of $0.16.
    • Forward yield 2.67%
    • Payable Feb. 20; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Comment!
  • 4:41 PM
    • C1 Financial (NYSE:BNK): Q4 EPS of $0.17 misses by $0.03.
    • Revenue of $16.47M (flat Y/Y) misses by $0.33M.
    • Press Release
    | Comment!
  • 4:40 PM
    • McKesson (NYSE:MCK) declares $0.24/share quarterly dividend, in line with previous.
    • Forward yield 0.44%
    • Payable April 1; for shareholders of record March 2; ex-div Feb. 26.
    | Comment!
  • 4:39 PM
    • First Niagara (NASDAQ:FNFG) declares $0.08/share quarterly dividend, in line with previous.
    • Forward yield 4.0%
    • Payable Feb. 17; for shareholders of record Feb. 7; ex-div Feb. 4.
    | Comment!
  • 4:39 PM
    • Q4 core FFO per share of $1.74 up 7.4% from a year ago.
    • For established communities as of April 1 (51,201 apartments), average rental rates up 3.8% and economic occupancy up 0.3%, for a 4.1% increase in rental revenue. No. California and the Pacific NW are strong spots with 8% and 6.3% gains in rates, respectively, and Mid-Atlantic is weak with a 0.5% decline.
    • Quarterly dividend is raised 7.8% to $1.25 per share.
    • 2015 core FFO per share is expected at $7.20-$7.50 (was $6.78 in 2014).
    • Conference call at 1 ET
    • Previously: AvalonBay Communities misses by $0.03 (Jan. 28)
    • AVB flat after hours
    | Comment!
  • 4:38 PM
    • Ameriprise Financial (NYSE:AMP) declares $0.58/share quarterly dividend, in line with previous.
    • Forward yield 1.84%
    • Payable Feb. 27; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Comment!
  • 4:38 PM
    • Alliant Techsystems (NYSE:ATK): FQ3 EPS of $3.02 beats by $0.14.
    • Revenue of $1.25B (+3.3% Y/Y) in-line.
    • Shares +1.9%.
    • Press Release
    | 2 Comments
  • 4:38 PM
    • Mid Penn Bancorp (NASDAQ:MPB): Q4 EPS of $0.23
    • Revenue of $7.47M (+7.2% Y/Y)
    • Press Release
    | Comment!
  • 4:38 PM
    • Franklin Electric (NASDAQ:FELE) declares $0.09/share quarterly dividend, in line with previous.
    • Forward yield 1.06%
    • Payable Feb. 19; for shareholders of record Feb. 5; ex-div Feb. 3.
    | Comment!
  • 4:37 PM
    • Mid Penn Bancorp (NASDAQ:MPB) declares $0.10/share quarterly dividend, in line with previous.
    • Forward yield 2.58%
    • Payable Feb. 23; for shareholders of record Feb. 11; ex-div Feb. 9.
    | Comment!
  • 4:37 PM
    • Amcon Distributing Company (NYSEMKT:DIT) declares $0.18/share quarterly dividend, in line with previous.
    • Forward yield 0.88%
    • Payable Feb. 23; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Comment!
  • 4:36 PM
    • Highwoods Properties (NYSE:HIW) declares $0.42/share quarterly dividend, in line with previous.
    • Forward yield 3.58%
    • Payable March 10; for shareholders of record Feb. 18; ex-div Feb. 13.
    | 1 Comment
  • 4:36 PM
    • Visa (NYSE:V) declares $0.48/share quarterly dividend, in line with previous.
    • Forward yield 0.78%
    • Payable March 3; for shareholders of record Feb. 13; ex-div Feb. 11.
    | Comment!
  • 4:36 PM
    • Louisiana Bancorp (NASDAQ:LABC) declares $0.07/share quarterly dividend, 40% increase from prior dividend of $0.05.
    • Forward yield 1.32%
    • Payable Feb. 26; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Comment!
  • 4:35 PM
    • MKS Instruments (NASDAQ:MKSI): Q4 EPS of $0.54 beats by $0.07.
    • Revenue of $203M (-0.7% Y/Y) beats by $10.32M.
    • Press Release
    | Comment!
  • 4:35 PM
    • Arrow Financial (NASDAQ:AROW) declares $0.25/share quarterly dividend, in line with previous.
    • Forward yield 3.89%
    • Payable March 13; for shareholders of record March 3; ex-div Feb. 27.
    | Comment!
  • 4:34 PM
    • Core Laboratories (NYSE:CLB): Q4 EPS of $1.54 in-line.
    • Revenue of $278.62M (+0.8% Y/Y) misses by $2.06M.
    • Shares -12%.
    • Press Release
    | Comment!
  • 4:34 PM
    • Tetra Tech (NASDAQ:TTEK): FQ1 EPS of $0.41 beats by $0.06.
    • Revenue of $437.08M (-9.5% Y/Y) misses by $17.25M.
    • Press Release
    | Comment!
  • 4:34 PM
    • Spectrum Brand (NYSE:SPB) declares $0.33/share quarterly dividend, 10% increase from prior dividend of $0.30.
    • Forward yield 1.46%
    • Payable March 10; for shareholders of record Feb. 17; ex-div Feb. 12.
    | Comment!
  • 4:33 PM
    • Capstead Mortgage (NYSE:CMO): Q4 EPS of $0.31 misses by $0.02.
    • Revenue of $56.45M (-3.5% Y/Y) beats by $0.38M.
    • Press Release
    | Comment!
  • 4:32 PM
    | Comment!
  • 4:31 PM
    • Farmers National (NASDAQ:FMNB): Q4 EPS of $0.12 in-line.
    • Revenue of $13.44M (+6.0% Y/Y) beats by $0.04M.
    • Press Release
    | Comment!
  • 4:29 PM
    • Cabot (NYSE:CBT): FQ1 EPS of $0.80 beats by $0.15.
    • Revenue of $812M (-9.6% Y/Y) misses by $51.67M.
    • Shares +1.5%.
    • Press Release
    | Comment!
  • 4:28 PM
    • Financial Institutions (NASDAQ:FISI): Q4 EPS of $0.54 beats by $0.05.
    • Revenue of $24.14M (+3.3% Y/Y) misses by $3.01M.
    • Press Release
    | Comment!
  • 4:27 PM
    | Comment!
  • 4:27 PM
    • Duke Realty (NYSE:DRE): Q4 EPS of $0.30 in-line.
    • Revenue of $277.44M (+1.9% Y/Y) beats by $44.37M.
    • Shares +0.58%.
    • Press Release
    | Comment!
  • 4:26 PM
    • Washington Trust Bancorp (NASDAQ:WASH): Q4 EPS of $0.66 beats by $0.03.
    • Revenue of $39.96M (+1.5% Y/Y) beats by $1.25M.
    • Press Release
    | Comment!
  • 4:24 PM
    • MainSource Financial (NASDAQ:MSFG): Q4 EPS of $0.30 in-line.
    • Revenue of $36.5M (+8.9% Y/Y) misses by $1.23M.
    • Press Release
    | Comment!
  • 4:23 PM
    • Fox Chase Bancorp (NASDAQ:FXCB): Q4 EPS of $0.19 misses by $0.02.
    • Revenue of $8.57M (+1.4% Y/Y) beats by $0.35M.
    • Press Release
    | Comment!
  • 4:23 PM
    • Facebook's (NASDAQ:FB) ad revenue rose 53% Y/Y in Q4 to $3.59B; growth was 64% in Q3. Payments/other fees revenue rose 7% to $257M, after growing 13% in Q3.
    • Mobile was 69% of ad revenue vs. 66% in Q3 and 62% in Q2. Ad growth would've been 58% if not for forex.
    • Monthly active users (MAUs) rose 3% Q/Q and 13% Y/Y to 1.39B, and mobile MAUs 6% Q/Q and 26% Y/Y to 1.19B. Daily active users (890M) were 64% of MAUs, even with Q3.
    • Non-GAAP costs/expenses rose 50% Y/Y to $1.63B, nearly even with revenue growth of 49%. Non-GAAP op. margin was an eye-popping 58%. On a GAAP basis, costs/expenses were up 87% to $2.72B.
    • Full-year free cash flow was $3.63B, soundly exceeding net income of $2.94B. Facebook ended Q4 with $11.2B in cash/marketable securities, and no debt.
    • FB nearly unchanged AH for now. Q4 results, PR.
    | 20 Comments
  • 4:23 PM
    • Alongside Q4 earnings results, Duke Realty (NYSE:DRE) continues to sharpen focus on just its industrial and medical office properties with the sale of a $1.1B suburban office portfolio.
    • The portfolio consists of 61 in-service properties, one property under development, and 57 acres of undeveloped land.
    • Source: Press Release
    | Comment!
  • 4:21 PM
    • TriState Capital (NASDAQ:TSC): Q4 EPS of $0.22 beats by $0.03.
    • Revenue of $26.35M (+46.6% Y/Y) beats by $0.67M.
    • Press Release
    | Comment!
  • 4:20 PM
     
    • Stocks turned sharply lower after the Fed reiterated it would be “patient” in raising interest rates but that rate hikes were "likely to occur sooner than currently anticipated" in the event of faster progress toward the FOMC’s employment and inflation objectives.
    • For those who like to parse the Fed's every word, it was an indication that the Fed is ready to be more hawkish than expected if necessary.
    • A renewed slide in oil prices sent energy stocks plunging (-3.9%), with crude oil shedding another 3.6% to $44.53/bbl as inventories surged.
    • Apple's big gain (+5.6%) was not enough to keep the Nasdaq positive, as a big opening advance slid into a sizable loss (-0.9%) by the close; the tech sector at least finished near the flat line while nearly all other sectors struggled.
    • Today's participation was slightly above average, with 835M shares changing hands at the NYSE floor.
    • U.S. Treasury bonds soared after the Fed statement, with the 10-year yield tumbling 10 bps to 1.73% and the 30-year yield dropping 11 bps to register its lowest close on record (2.28%).
    | 10 Comments
  • 4:20 PM
    • Vertex Pharmaceuticals (NASDAQ:VRTX) Q4 results ($M): Revenues: 144.6 (-58.8%); Operating Expenses: 286.8 (-17.6%); Operating Loss: (153.6) (-999%); Net Loss: (176.7) (-498.9%); Loss Per Share: (0.74) (-489.5%).
    | 1 Comment
  • 4:20 PM
    • Electro Scientific Industries (NASDAQ:ESIO): FQ3 EPS of -$0.15 beats by $0.04.
    • Revenue of $43.66M (+14.1% Y/Y) beats by $3.49M.
    • Shares -1.34% AH.
    • Press Release
    | Comment!
  • 4:20 PM
    • John B. Sanfilippo & Son (NASDAQ:JBSS): FQ2 EPS of $0.75 beats by $0.06.
    • Revenue of $251.37M (+11.7% Y/Y)
    • Shares +0.66%.
    • Press Release
    | Comment!
  • 4:18 PM
    • Aspen (NASDAQ:AZPN): FQ2 EPS of $0.36 beats by $0.06.
    • Revenue of $107.8M (+9.1% Y/Y) beats by $2.18M.
    • Shares +2.97%.
    • Press Release
    | Comment!
  • 4:18 PM
    • The secondary offering of 10M shares includes a greenshoe option for the underwriters of another 1.5M shares.
    • Source: Press Release
    • REXR no trades after hours
    | Comment!
  • 4:17 PM
    • Fortinet (NASDAQ:FTNT): Q4 EPS of $0.14 in-line.
    • Revenue of $223.96M (+26.3% Y/Y) beats by $12.8M.
    • Press Release
    | Comment!
  • 4:17 PM
    • Silicon Graphics (NASDAQ:SGI): FQ2 EPS of $0.00 beats by $0.12.
    • Revenue of $138.15M (+19.0% Y/Y) beats by $14.82M.
    • Shares -1.08%.
    • Press Release
    | Comment!
  • 4:16 PM
    • A 16% drop in revenue at Sands China took its toll on Las Vegas Sands (NYSE:LVS)  in Q4.
    • Macau casino revenue was off more than room revenue on softer VIP traffic.
    • The company also saw a 6% drop in revenue from its Las Vegas operations during the quarter.
    • Adjusted EBITDA property margin for Vegas was down 140 bps to 21.5%.
    • Marina Bay Sands in Singapore accounted for more than a third of Las Vegas Sands' EBITDA growth.
    • LVS +2.5% after-hours
    | 6 Comments
  • 4:16 PM
    • Datawatch (NASDAQ:DWCH): FQ1 EPS of -$0.38 misses by $0.11.
    • Revenue of $6.96M (-21.0% Y/Y) misses by $2.08M.
    • Shares -5.7%.
    • Press Release
    | Comment!
  • 4:15 PM
    • PAREXEL (NASDAQ:PRXL): FQ2 EPS of $0.69 beats by $0.09.
    • Revenue of $575.04M (+0.1% Y/Y) beats by $72.92M.
    • Press Release
    | Comment!
  • 4:15 PM
    • Intersil (NASDAQ:ISIL): Q4 EPS of $0.18 beats by $0.04.
    • Revenue of $131.12M (-10.2% Y/Y) beats by $2.38M.
    • Press Release
    | Comment!
  • 4:14 PM
    • Q4 FFO of $357M up 3.4% from a year ago. FFO per share of $0.38 up 5.1%.
    • Same-store NOI of $596M up 2.4% Y/Y. Same-store leasing percentage of 97.2% up 10 basis points.
    • Initial rent rates for executed leases up 18.3% to $62.26 per square foot when compared to expiring leases.
    • Tenant sales up 2.8% to $20.5B on a trailing 12-month basis.
    • 2015 FFO per share is expected to be $1.40-$1.46 (was $1.32 in 2014), with Q1 FFO of $0.31-$0.33. Same-store NOI growth is expected at 4.5%.
    • Conference call tomorrow at 8 ET
    • Previously: General Growth Properties FFO in-line, beats on revenue (Jan. 28)
    • GGP flat after hours
    | Comment!
  • 4:14 PM
    • Cavium Networks (NASDAQ:CAVM): Q4 EPS of $0.42 beats by $0.01.
    • Revenue of $101.22M (+24.7% Y/Y) beats by $0.4M.
    • Shares +3.42%.
    • Press Release
    | Comment!
  • 4:14 PM
    • Cardiovascular Systems (NASDAQ:CSII): FQ2 EPS of -$0.17 beats by $0.18.
    • Revenue of $44.7M (+38.2% Y/Y) beats by $0.73M.
    • Press Release
    | Comment!
  • 4:13 PM
    • Cardiovascular Systems (NASDAQ:CSII) fiscal Q2 results ($M): Revenues: 44.7 (+38.4%); Operating Expenses: 40.6 (+24.9%); Net Loss: (5.3) (+39.1%); Loss Per Share: (0.17) (+46.9%).
    | Comment!
  • 4:12 PM
    • ShoreTel (NASDAQ:SHOR): FQ2 EPS of $0.08 beats by $0.04.
    • Revenue of $90.86M (+7.6% Y/Y) beats by $2.68M.
    • Press Release
    | Comment!
  • 4:12 PM
    • Greenhill (NYSE:GHL): Q4 EPS of $0.51 misses by $0.11.
    • Revenue of $76.6M (+0.4% Y/Y) misses by $13.36M.
    • Press Release
    | Comment!
  • 4:12 PM
    • Swift Transportation (NYSE:SWFT): Q4 EPS of $0.55 beats by $0.07.
    • Revenue of $1.14B (+5.6% Y/Y) in-line.
    • Shares +0.55%.
    • Press Release
    | Comment!
  • 4:11 PM
    • Lam Research (NASDAQ:LRCX): FQ2 EPS of $1.19 beats by $0.06.
    • Revenue of $1.23B (+9.8% Y/Y) in-line.
    • Shares -0.9%.
    • Press Release
    | Comment!
  • 4:10 PM
    • Varian Medical Systems (NYSE:VAR): FQ1 EPS of $0.99 beats by $0.12.
    • Revenue of $738M (+3.7% Y/Y) beats by $20.23M.
    • Press Release
    | Comment!
  • 4:09 PM
    • CACI International (NYSE:CACI): FQ2 EPS of $1.01 misses by $0.05.
    • Revenue of $815.42M (-8.8% Y/Y) misses by $30.96M.
    • Press Release
    | Comment!
  • 4:09 PM
    • Qorvo (NASDAQ:QRVO): FQ3 GAAP EPS of $1.18; Non-GAAP $1.46.
    • Revenue of $742M (+32.3% Y/Y).
    • Shares -5.9% AH.
    • Press Release
    | 5 Comments
  • 4:09 PM
    • Mellanox Technologies (NASDAQ:MLNX): Q4 EPS of $0.59 beats by $0.15.
    • Revenue of $141.11M (+33.7% Y/Y) beats by $5.98M.
    • Shares +3.6%.
    • Press Release
    | Comment!
  • 4:08 PM
    • ServiceNow (NYSE:NOW): Q4 EPS of $0.03 beats by $0.01.
    • Revenue of $198.00M (+58.1% Y/Y) beats by $4.22M.
    • Press Release
    | 2 Comments
  • 4:08 PM
    • Ameriprise Financial (NYSE:AMP): Q4 EPS of $2.30 beats by $0.08.
    • Revenue of $3.09B (+4.7% Y/Y) beats by $30M.
    • Press Release
    | Comment!
  • 4:07 PM
    • Qualcomm (NASDAQ:QCOM): FQ1 EPS of $1.34 beats by $0.09.
    • Revenue of $7.1B (+7.3% Y/Y) beats by $160M.
    • Expects FQ2 revenue of $6.5B-$7.1B and EPS of $1.28-$1.40 vs. a consensus of $6.74B and $1.28.
    • Expects FY15 revenue of $26B-$28B and EPS of $4.75-$5.05 vs. a consensus of $27.81B and $5.21.
    • 270M FQ1 MSM chip shipments, at the high end of guidance of 250M-270M. 220M-240M expected in FQ2.
    • Shares -3.6% AH.
    • Press Release
    | 12 Comments
  • 4:07 PM
    • Citrix (NASDAQ:CTXS): Q4 EPS of $1.10 beats by $0.07.
    • Revenue of $851.48M (+6.1% Y/Y) beats by $7.41M.
    • Shares +0.81%.
    • Press Release
    | Comment!
  • 4:06 PM
    • General Growth Properties (NYSE:GGP): Q4 FFO of $0.38 in-line.
    • Revenue of $673.02M (+0.4% Y/Y) beats by $1.33M.
    • Press Release
    | Comment!
  • 4:06 PM
    • Tractor Supply (NASDAQ:TSCO): Q4 EPS of $0.81 beats by $0.05.
    • Revenue of $1.58B (+11.3% Y/Y) in-line.
    • Shares +0.18%.
    • Press Release
    | 1 Comment
  • 4:06 PM
    • Extreme Networks (NASDAQ:EXTR): FQ2 EPS of $0.05 beats by $0.01.
    • Revenue of $148M (-0.2% Y/Y) beats by $4.87M.
    • Shares +3.23%.
    • Press Release
    | Comment!
  • 4:05 PM
    • The iShares Barclays MBS Bond Fund (MBB +0.2%) hit a new lifetime high, which should be good for the book values of mortgage REITs (assuming they weren't too hedged), but the yield curve continues to sharply flatten. The 10-year Treasury yield is all the way down to 1.71% and the 30-year at a record-low 2.29% - this as the Fed says it's on track for a mid-year rate hike.
    • In addition to shaving margins for leveraged holders of mortgages, the lower rates could result in another refinance wave, and thus a surge in prepayments.
    • Annaly Capital (NLY -1%), American Capital Agency (AGNC -1.6%), Armour Residential (ARR -0.7%), Hatteras Financial (HTS -0.7%), Western Asset (WMC -2.2%), Apollo Residential (AMTG -0.7%)
    • ETFs: REM, MORT, MORL
    • Previously: Bond yields slide after FOMC (Jan. 28)
    • Previously: FOMC: Still "patient," but rate hike remains on the way (Jan. 28)
    | 9 Comments
  • 4:05 PM
    • Hologic (NASDAQ:HOLX): FQ1 EPS of $0.39 beats by $0.03.
    • Revenue of $652.8M (+6.6% Y/Y) beats by $17.34M.
    • Press Release
    | 1 Comment
  • 4:05 PM
    • Flextronics International (NASDAQ:FLEX): FQ3 EPS of $0.30 beats by $0.04.
    • Revenue of $7.03B (-2.1% Y/Y) beats by $410M.
    • Press Release
    | Comment!
  • 4:05 PM
    • Las Vegas Sands (NYSE:LVS): Q4 EPS of $0.92 beats by $0.11.
    • Revenue of $3.42B (-6.6% Y/Y) misses by $90M.
    • Press Release
    | Comment!
  • 4:03 PM
    • Vertex Pharmaceuticals (NASDAQ:VRTX): Q4 EPS of -$0.55 beats by $0.10.
    • Revenue of $140.6M (-60.0% Y/Y) beats by $3.11M.
    • Press Release
    | Comment!
  • 4:03 PM
    • A study done by researchers from New York and Columbia Universities found that premiums were slightly higher for policies offered on state-run health exchanges where there were higher numbers of competitors, precisely the opposite effect that supposedly characterizes more intense competition.
    • Overall, average monthly premiums were $5.71 higher per additional insurer (p<0.001). In addition, average monthly premiums were $3.18 higher per additional insurer for identical plans offered.
    • The analysis focused on the prices for each unique insurance plan offered on the exchanges in each geographic rating area. The number of rating areas varied widely in the 34 states examined, from only one in NJ, NH and DE to 67 in FL.
    • The authors acknowledge that the higher premiums may be due to higher cost areas (urban vs rural) where more insurers are located rather than a lack of competition.
    • Related tickers: (NYSE:AFL) (NYSE:AIG) (NYSE:AET) (NYSE:CI) (NYSE:CNC) (NYSE:UNH) (NYSE:ANTM) (NYSE:MOH) (NYSE:HNT) (NYSE:HUM) (NYSE:WCG) (NASDAQ:MGLN)
    | 5 Comments
  • 4:02 PM
    • Cirrus Logic (NASDAQ:CRUS): FQ3 EPS of $0.97 beats by $0.22.
    • Revenue of $298.6M (+42.1% Y/Y) beats by $24.36M.
    • Shares -1%.
    • Press Release
    | Comment!
  • 4:02 PM
    • Facebook (NASDAQ:FB): Q4 EPS of $0.54 beats by $0.06.
    • Revenue of $3.85B (+49.2% Y/Y) beats by $80M.
    • Shares -2.63%.
    • Press Release
    | 28 Comments
  • 4:02 PM
    • Allegiant Travel Company (NASDAQ:ALGT): Q4 EPS of $1.83 beats by $0.11.
    • Revenue of $278.95M (+17.0% Y/Y) beats by $2.86M.
    • Shares -0.18%.
    • Press Release
    | Comment!
  • 4:01 PM
    • Qiagen (NASDAQ:QGEN): Q4 EPS of $0.25 misses by $0.05.
    • Revenue of $360.8M (-0.5% Y/Y) misses by $6.87M.
    • Press Release
    | Comment!
  • 4:00 PM
     
    • Dow -1.08% to 17,200.17. S&P -1.34% to 2,002.40. Nasdaq -0.93% to 4,637.81.
    • Treasurys: 30-year +1.05%. 10-yr +0.64%. 5-yr +0.39%.
    • Commodities: Crude -4.25% to $44.27. Gold -0.51% to $1,286.30.
    • Currencies: Euro -0.74% vs. dollar. Yen -0.39%. Pound +0.26%.
    | Comment!
  • 3:59 PM
    | 11 Comments
  • 3:52 PM
    • Sony (NYSE:SNE) is shuttering its Music Unlimited streaming service (had seen limited uptake, from all indications) in favor of an alliance with Spotify: The online music giant will power a new service called PlayStation Music, with the offering initially launching on the PS3, PS4, and Xperia phones/tablets.
    • PS4 users will be able to have Spotify music serve as the soundtrack for their games. The PS3 and PS4 respectively have installed bases above 80M and 18M.
    • Pandora (NYSE:P), already dealing with concerns about active listener growth and competition, has slumped below $17 following the news, which comes eight days before the company's Q4 report. Pandora has long argued Spotify's subscription streaming services aren't a major threat to its personalized Web radio services.
    | 5 Comments
  • 3:49 PM
    • The U.S. Air Force says it has selected Boeing's (BA +5.7%) commercial 747-8 airliner to replace its current fleet of Air Force One presidential aircraft.
    • Boeing has not secured a contract, but the Pentagon says it likely would win deals for the aircraft and modifications that include sophisticated communications equipment and antimissile devices.
    • The Sikorsky unit of United Technologies (UTX -1.7%) and Lockheed Martin (LMT -0.5%) win a $1.24B contract to build the first six of a planned fleet of 23 helicopters for the Marine Corps to transport the president, vice president, cabinet members and other dignitaries.
    | 9 Comments
  • 3:46 PM
    • American Campus Communities (NYSE:ACC) declares $0.38/share quarterly dividend, in line with previous.
    • Forward yield 3.37%
    • Payable Feb. 20; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Comment!
  • 3:44 PM
     
    • Yannis Stournaras only became the head of the Bank of Greece last summer, amid a broad cabinet reshuffle by then-Prime Minister Samaras. Prior to that role, he was finance minister, which means he was essentially in charge of the austerity drive which the Greek electorate finally rebelled against over the weekend.
    • Given that context, reports that the new government is pressuring him to go shouldn't be a huge surprise.
    • Previously: Bank of Greece Governor forced out? (Jan. 28)
    | Comment!
  • 3:39 PM
    • DreamWorks Animation (NASDAQ:DWA) is off 6% -- trading lower for the second day in a row, and down 15.6% since its announcement of layoffs and a smaller film slate.
    • The studio said it would lay off 18% of its workforce and concentrate on just two films a year instead of three (only one film, Home, is set for 2015).
    • In the wake of some box-office disappointments, CEO Jeffrey Katzenberg says it's time for him to focus more on the studio's core filmmaking business.
    • Not all outlooks are grim; along with Piper Jaffray's upgrade, B. Riley has upgraded the stock to Buy, and The Hollywood Reporter notes the studio can draw $250M in credit if needed, along with selling unencumbered assets like its Glendale, Calif., campus for hundreds of millions more.
    • Shares are off 44% in the past year.
    | Comment!
  • 3:35 PM
    • The two top makers of business jets say demand continues to improve, with General Dynamics (GD +0.1%) planning to boost output of its high-end Gulfstream planes as more U.S. companies place orders.
    • Gulfstream and Cessna-maker Textron (TXT +2.7%) are both introducing new aircraft but had trimmed production of existing models after weaker global demand in the wake of the financial crisis.
    • Gulfstream's performance helped GD's Q4 results beat Wall Street expectations; CEO Phebe Novakovic says Q4 was Gulfstream's best sales quarter in three years, and that GD plans to boost production of its midsize jets in 2015 while leaving output of larger planes at existing levels.
    • TXT CEO Scott Donnelly says the company had yet to boost Cessna production, though it had the capacity to increase output later in the year.
    | Comment!
  • 3:27 PM
    | 18 Comments
  • 3:22 PM
    • Boeing (BA +6.3%) aggressively pushes out to 52-week highs after posting stronger than expected Q4 results and guiding FY 2015 revenues of $94.5B-$96.5B, topping expectations for $93.25B.
    • CEO Jim McNerney said during today's earnings conference call that low oil prices do not alter the "value proposition" of Boeing's jetliners, and that the company should capture 40-60 orders/year for the current production of the 777 aircraft, remaining healthy through the end of the decade.
    • Boeing's 2015 cash flow guidance, which forecasts a rise to $6.2B in 2015 from $4.3B at the end of 2014, was a strong number and gives Boeing flexibility to return money to shareholders, Sterne Agee's Peter Arment says, which J.P. Morgan's Joseph Nadol says suggests confidence on lower 787 unit costs.
    | 1 Comment
  • 3:12 PM
    • An agreement isn't yet final, but McGraw Hill Financial's (MHFI -1.8%) S&P as early as tomorrow could strike a deal to pay $1.37B to the DOJ and 12 states to settle charges it knowingly inflated ratings on MBS prior to the financial crisis.
    • The settlement would be the largest amount paid by a ratings agency, the group of which has gotten away relatively unscathed (legally speaking) from its actions leading up to the financial crisis.
    • Last week S&P settled with the SEC over actions from well after the bust-up.
    | Comment!
  • 3:01 PM
    • Sears Holdings (SHLD -2.9%)  has cut 115 corporate jobs across departments, according to a company spokesperson.
    • A weaning of employees from the Hoffmann Estates HQ has been widely anticipated.
    | 9 Comments
  • 2:59 PM
     
    • Dow +0.03%.
    • 10-yr +0.62%.
    • Euro -0.61% vs. dollar.
    • Crude -3.8% to $44.48.
    • Gold -0.59% to $1,285.30.
    | Comment!
  • 2:57 PM
    • “Despite the large declines in commodity prices, we see risks as still skewed to the downside over the near-term,” says Goldman Sachs.
    • Of course, much of the price decline has to do with oil, and Goldman doesn't expect a whole lot more damage as prices have gotten low enough for investors to begin buying excess supplies and putting them in storage. While this may put a floor under the price, says Goldman, it also means prices are likely to stay lower for longer.
    • Meanwhile, there's China, and slowing growth there means copper (NYSEARCA:JJC) prices have further to fall. Some metals to consider going long? Palladium (NYSEARCA:PALL), nickel (JJN, NINI), and zinc.
    • ETFs: DJP, GSG, RJI, GSC, GSP, DJCI, CMD, UCD
    | Comment!
  • 2:57 PM
    | Comment!
  • 2:54 PM
    • GE and Statoil (NYSE:STO) launch an R&D partnership to work on ways to cut greenhouse gas emissions, in a bid to show that fossil fuels can have a long-term future under increasingly tough climate regulations.
    • The two companies are seeking technologies that can reduce emissions and cut costs, for example by reducing the wasteful flaring of associated gas released during oil production, FT reports.
    • The partnership is a first for GE’s oil and gas services division, which believes technologies to cut the use of fuel and other resources will prove commercially attractive at a time of weak oil prices.
    | 17 Comments
  • 2:48 PM
    • Georgetown Bancorp (NASDAQ:GTWN): EPS of $0.25
    • Revenue of $2.75M (+10.9% Y/Y)
    • Press Release
    | Comment!
  • 2:46 PM
    • WorkMail, an Amazon (AMZN -0.1%) corporate e-mail/calendar solution launching in Q2, takes aim at a market dominated by Microsoft (NASDAQ:MSFT), and in which Google (Gmail/Google Calendar) and IBM (Notes/Domino) are also prominent.
    • Amazon isn't primarily looking to replace Microsoft Outlook and other client-side e-mail apps, but rather server-side platforms such as Exchange. The e-commerce giant argues its solution will be easier to use/deploy than alternatives, and also offer better security on account of having all data encrypted with customer-managed keys.
    • This isn't the first time Amazon has layered a value-added business service on top of AWS: It has already launched Workspaces, a PC virtual desktop solution, and Zocalo, an enterprise cloud storage/document-sharing platform.
    • Pricing is aggressive, but not incredibly so: Amazon is charging $4/user/month for WorkMail on a standalone basis (50GB of storage), and $6/user/month if bundled with 200GB of Zocalo storage. Forbes' Ben Kepes is impressed with the offering, but also would like to see Amazon provide more storage and "make a foray into broader office productivity functionality."
    | 28 Comments
  • 2:46 PM
    • Cliffs Natural Resources' (CLF -2.1%) move to restructure its Canadian Bloom Lake operations faces an uncertain outcome, according to RBC analyst Fraser Phillips.
    • CLF had indicated that closure costs associated with the Bloom Lake shutdown would total $650M-$700M, but Phillips says "the outcome of the restructuring proceedings is uncertain and it remains unclear what amount of closure costs could ultimately be avoided, if any."
    • Sam Dubinsky at Wells Fargo concurs, adding that CLF shares are expensive at 9x estimated 2015 EBITDA in light of long-term risk from a contract renewal with ArcelorMittal and additional 2015 earnings risk from the recent downturn in steel prices.
    | 6 Comments
  • 2:43 PM
    • Georgetown Bancorp, Inc. (NASDAQ:GTWN) declares $0.04/share quarterly dividend, in line with previous.
    • Forward yield 1.01%
    • Payable Feb. 23; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Comment!
  • 2:41 PM
    • Exxon Mobil (NYSE:XOM) declares $0.69/share quarterly dividend, in line with previous.
    • Forward yield 3.11%
    • Payable March 10; for shareholders of record Feb. 10; ex-div Feb. 6.
    | 8 Comments
  • 2:29 PM
    | Comment!
  • 2:29 PM
    • Caterpillar (CAT +0.9%) shares rebound slightly from yesterday’s selloff, as J.P. Morgan upgrades CAT to Neutral from Underweight while seeing limited likelihood of further declines.
    • JPM says its Neutral rating is based on CAT’s exposure to oil and gas, both direct and indirect, which seems to have entered a prolonged period of volatility at best and perhaps a long-term down cycle; the firm cuts its estimate for 2015 earnings to $4.80/share from $6.70, as CAT said yesterday it expects EPS of $4.75 on revenue of $50B for the year.
    • Stifel analysts maintain their Buy rating but cut their price target to $93 from $122, Barclays keeps its Overweight rating but lowers its target to $90 from $101, and UBS cuts its target to $81 from $84 as it expects headwinds from oil and gas to extend into 2016.
    | 1 Comment
  • 2:21 PM
    • The 10-year Treasury yield sinks all the way to 1.75% following the FOMC statement which shows the central bank continuing on a path to rate hikes around mid-year. TLT +0.95%, TBT -1.9%
    • Yields at the short end aren't moving a lot and continue to price in a 25 basis point hike by the fall.
    • Stocks remain modestly higher, but financials (XLF -0.6%) - contemplating an even flatter yield curve - continue to underperform. KBE -1.1%, KRE -1.2%
    | Comment!
  • 2:17 PM
    • Carl Icahn swallows his pride over Netflix (NFLX -1.8%), admitting he sold too early by dumping a block of shares in 2013 (CNBC interview).
    • The investor says his concern over the impact of net neutrality on Netflix proved to be unfounded.
    • The famed Netflix algorithm is the subject of a New Yorker piece. The publication presses content chief Ted Sarandos to admit that content decisions (what to green-light) are split 70-30 between algorithm and the human factor (Sarandos).
    • "But the thirty needs to be on top, if that makes sense," notes Sarandos in what appears to be a nod to the old Hollywood studio system.
    | 1 Comment
  • 2:13 PM
     
    • Indirect bidders took down nearly 50% of today's $25.7B two-year Treasury note auction, with direct bidders winning 8.8% of the notes vs. a recent 16%. The bid-to-cover ratio of 3.74 stands against the average of 3.40 over the last four auctions.
    • The two-year yield slipped to 0.51% after the auction vs. 0.515% earlier in the session.
    • Treasury auction results
    | Comment!
  • 2:12 PM
    • Glencore (OTCPK:GLCNF, OTCPK:GLNCY) says it may shut some of its South African coal operations amid slumping commodity prices.
    • Glencore's Optimum Coal Mines unit says the closures would reduce its overall production of thermal coal by at least 5M metric tons/year and more than 1,000 employees could lose their jobs.
    • The company says it will not close its underground coal mining operations and could reopen its opencast mines if conditions improve.
    | Comment!
  • 2:12 PM
    • Mitek (MITK +3.4%) has posted big gains this week ahead of tomorrow afternoon's FQ1 report. Today's move comes on volume of 292K shares, above a 30-day average of 180K.
    • Shares are up 41% since the mobile banking tech provider posted an FQ4 beat and reported strong Mobile Deposit growth on Nov. 6.
    | 4 Comments
  • 2:09 PM
    | 9 Comments
  • 2:06 PM
     
    • Citing "solid" growth and "strong" job gains, the FOMC shows no sign of backing away from its near-pledge for a mid-year rate hike, but does say it can be "patient" - code for nothing coming in the next two policy meetings and thus meaning June would be the earliest date for tightening.
    • As for inflation, it's expected to decline further in the near term, but then rise back towards the 2% target as the labor market strengthens and the transitory effects of lower energy prices dissipate.
    | 40 Comments
  • 2:05 PM
    | Comment!
  • 2:04 PM
    • Leading Turkish mobile firm Turkcell (TKC -2.2%) says CEO Sureyya Ciliv has resigned, effective Jan. 31.
    • Acting as CEO will be Chief Technology Group Officer Ilker Kuruoz.
    • The stock's down more than 10% over the past week.
    | Comment!
  • 2:04 PM
    | Comment!
  • 2:02 PM
    • Wayne Savings (NASDAQ:WAYN): Q4 EPS of $0.24
    • Revenue of $3.59M (+1.1% Y/Y)
    • Press Release
    | Comment!
  • 2:00 PM
     
    • Dow +0.18%.
    • 10-yr +0.3%.
    • Euro -0.4% vs. dollar.
    • Crude -3.53% to $44.60.
    • Gold -0.43% to $1,287.30.
    | Comment!
  • 2:00 PM
    • After moving up its earnings release by two days and posting a Q4 beat, Informatica (INFA -1.5%) guided on its CC (transcript) for Q1 revenue of $250M-$260M and EPS of $0.31-$0.36, below a consensus of $262.7M and $0.37.
    • 2015 guidance is for revenue of $1.1B-$1.15B and EPS of $1.55-$1.70, mostly below a consensus of $1.14B and $1.70. Forex is expected to have a 4% impact on both Q1 and 2015 revenue growth.
    • With activist Elliott Management circling (and reportedly pushing for a sale), Informatica has added $337M to its buyback authorization, and declared it plans to buy back $500M worth of shares this year. A $300M accelerated share repurchase will start within the next week.
    • License revenue rose 7% Y/Y in Q4 to $129.2M, subscription revenue 53% to $21.1M, and service revenue 8% to $153M. Average deal size rose to $527K from $488K a year earlier, and $1M+ transactions to 41 from 32. Big data and master data management (MDM) products were areas of strength.
    • Q4 results, PR
    | Comment!
  • 1:54 PM
    • Sotheby's (BID) is raising the fees it charges to buyers of art.
    • The auction house will earn 25% on the first $200K of every purchase - up from the previous threshold of $100K.
    • A 20% charge will apply for sales above $200K to $3M - higher than the previous cap of $2M.
    • The company says it expects to improve margins through the measure.
    | Comment!
  • 1:50 PM
    • TracFone (a unit of AMX) will pay $40M to settle FTC claims that it slowed or cut data to millions of prepaid consumers after selling them unlimited data plans.
    • The case was the FTC's second related to throttling, after it sued AT&T in October.
    • The agency says TracFone terminated some service and slowed others from 60-90% after customers used as little as 1 Gb.
    | Comment!
  • 1:33 PM
    • In addition to missing FQ2 revenue estimates (while posting in-line EPS), Open Text (NASDAQ:OTEX) reported a 7% Y/Y drop in license revenue (drives future customer support revenue) to $75.8M, a reversal from FQ1's 6% growth. On the CC (transcript), management blamed the decline on forex and "slower than expected growth from developing markets."
    • Also: Open Text says business intelligence/analytics software vendor Actuate, which it finished acquiring on Jan. 16, could see revenue fall by 10%-20% post-acquisition, a decline deemed "consistent with prior acquisitions."
    • Cloud services revenue (boosted by the GXS acquisition) grew 259% to $151.3M; Open Text now claims 60K cloud customers and 900 managed service customers, and is aiming for cloud services to make up 28%-33% of FY15 (ends June '15) revenue. Customer support revenue rose 3% to $179.5M.
    • FQ2 results, PR
    | Comment!
  • 1:29 PM
    • The PDUFA date for the FDA's review of The Medicines Company's (MDCO +0.3%) Biologics License Application (BLA) for its hemostatic agent, Fibrocaps, is January 31. Since this is Saturday, the agency may announce its decision on Friday, January 30.
    • The company acquired the rights to Fibrocaps via its acquisition of ProFibrix in 2013.
    • Previously: FDA accepts Medicines Company's application for Fibrocaps (April 3, 2014)
    | Comment!
  • 1:23 PM
    • Dougherty & Company initiates coverage on Build-A-Bear Workshop (BBW +0.8%) with a Buy rating.
    • The investment firm sets a $27 price target on the retail chain.
    | 1 Comment
  • 1:18 PM
    • AT&T (NYSE:T) is up 1% today after meeting EPS estimates lowered by a mobile price war -- while many investors looked past revenue growth and talk of business diversification to maintaining the company's high dividend yield.
    • The company committed to a lower capex of about $18B for 2015, and it notes a reduction in capex will bring a reduced trailing expense that will help with margins as well as free cash flow.
    • AT&T raised its quarterly dividend to $0.47 in December, good for a 5.7% forward yield -- which looks better if interest rates remain low or go lower.
    • AT&T "represents a tug-of-war between fundamental investors vs. income-oriented investors," says Morgan Stanley's Simon Flannery. "With the 10-year treasury bond at around 1.8%, AT&T is the highest yield in the Dow Jones."
    • New guidance is likely to come after the DirecTV (NASDAQ:DTV) acquisition closes sometime in H1 2015.
    • Previously: AT&T sees "continued" revenue growth and expanding margins (Jan. 27 2015)
    | 7 Comments
  • 1:18 PM
    • The PDUFA date for the FDA's review of Zogenix's (ZGNX -3.9%) supplemental New Drug Application (sNDA) for an abuse deterrent formulation of Zohydro ER is this Friday, January 30. If approved, the company will transition to the new product by Q2.
    • Previously: Zogenix submits sNDA for abuse deterrent Zohydro (Oct. 1, 2014)
    | 3 Comments
  • 1:14 PM
    • Popcorn isn't so boring, according to a report from Rabobank.
    • The ready-to-eat popcorn category has seen growth rates of 25% as more millennials latch onto favored brands for snacking.
    • Strong innovation from smaller players has boosted sales at the expense of some microwave popcorn brands from larger companies.
    • P-E firms have taken notice of the potential and are active in the sector:
    • Popcorn sellers with an eye on the trend include ConAgra (NYSE:CAG), Target (NYSE:TGT) through a private label brand, 1-800-Flowers.com (NASDAQ:FLWS), Snyder's-Lance (NASDAQ:LNCE), Diamond Foods (NASDAQ:DMND), PepsiCo (NYSE:PEP), and even Berkshire Hathaway.
    | 3 Comments
  • 1:04 PM
    • Univest Corporation of Pennsylvania (NASDAQ:UVSP): Q4 EPS of $0.32
    • Revenue of $30M (+2.7% Y/Y).
    • Press Release
    | Comment!
  • 1:03 PM
    • Himax (HIMX +6.7%), QuickLogic (QUIK +7.4%), and Pixelworks (PXLW +5.4%) are posting big gains on a day that has seen many mobile chipmakers rally in the wake of Apple's strong FQ1 iPhone sales print.
    • Himax's LCD driver ICs and QuickLogic's sensor hubs go into Android devices rather than Apple's mobile hardware. Pixelworks counts Apple as a client, but details about the business relationship are limited. Many think an SoC being developed by Pixelworks for large-screen applications (through a "co-development partnership") is meant for Apple.
    • Possibly helping Pixelworks' cause: Tim Cook stated on Apple's (NASDAQ:AAPL) CC (transcript) 25M Apple TV units have now been cumulatively shipped, up from 20M last April, and that the product is one which Apple "[continues] to look at and work on and find a way that we can make even greater contribution than what we’re doing."
    • QuickLogic reports on Feb. 4, Pixelworks on Feb. 5, and Himax on Feb. 12.
    | 3 Comments
  • 1:00 PM
     
    • Dow +0.28%.
    • 10-yr +0.18%.
    • Euro -0.24% vs. dollar.
    • Crude -3.05% to $44.82.
    • Gold -0.35% to $1,288.40.
    | Comment!
  • 12:58 PM
    • Kinder Morgan's (KMI -1.3%) proposed Freedom Pipeline, which would move West Texas crude to California, is getting more interest from west coast refiners, according to the head of the company's natural gas pipeline unit.
    • A revamped proposal for the pipeline includes adding a facility at the front end in Texas to provide crude blends that better match the Alaska North Slope crude that California refineries typically process; the new proposal also involves shipping condensate that could be exported from California.
    • If approved, the pipeline project would open another outlet for processed condensate exports that so far have been shipped from the U.S. Gulf coast.
    | 8 Comments
  • 12:58 PM
    • Maxwell Technologies (MXWL +0.6%) will report Q4 and fiscal-year results after the close on Thursday, February 5th. The conference call will begin at 5.00pm ET.
    • Consensus views for Q4 and 2014 are for EPS of $0.00 and -$0.15 and revenue of $50.5M (+29.6% Y/Y) and $184.2M (-4.8%), respectively.
    | Comment!
  • 12:56 PM
    • Thinly-traded nano cap Hansen Medical (HNSN +29.7%) jumps on a 6x surge in volume after the company reported that the first procedure using its Magellan Robotic System has been completed in Melbourne, Australia. The doctors performed a transarterial chemoembolization, which is a minimally-invasive procedure used to deliver chemotherapeutic agents directly to a tumor in the liver.
    • Interventional radiologist Dr. Gerard Goh said, "The Magellan Robotic System allowed us to gain catheter stability in challenging anatomy. Navigating the tortuous anatomy of the blood vessels supplying the liver would have been extremely challenging by conventional techniques."
    | 1 Comment
  • 12:44 PM
    | Comment!
  • 12:41 PM
    • Lowe's (LOW +0.4%) plans to open 25 new stores in Canada over the next three years as it keeps a measured pace of expansion in the nation.
    • The company already has 37 stores in Canada and regional distribution centers.
    • Lowe's didn't break out the rate of sales growth or margins for its Canada business in its last earnings report.
    | Comment!
  • 12:40 PM
    • After having surged above $51 in AH trading yesterday, Yahoo (YHOO +1.7%) is back below $49 today after beating Q4 estimates, providing light Q1 guidance, and unveiling plans for a tax-free spinoff of its Alibaba stake.
    • Hurting Yahoo's cause: Alibaba (NYSE:BABA) is selling off in the wake of the spinoff news - by proxy, Yahoo's SpinCo increases the supply of Alibaba shares - and criticism from Chinese regulators about illicit goods sold on its sites.
    • The spinoff has triggered speculation Alibaba could buy back the spinoff shares to lower its share count and/or simplify its share structure. However, as Bloomberg's Matt LeVine observes, to maintain the SpinCo's tax-free status, Yahoo can't have a pre-arranged agreement to sell it back to Alibaba, and the SpinCo will have to wait a year before selling itself. "Until then, SpinCo ought to trade at a discount to Alibaba, since it's just Alibaba plus a tax liability."
    • SunTrust's Bob Peck has raised his Yahoo target by $4 to $61. He notes (Alibaba-funded) buybacks have lowered share count by 13% since Q1 2013, and likes CFO Ken Goldman's Yahoo Japan remarks.
    • Evercore's Ken Sena estimates the spinoff yields $16/share in tax savings. He values the SpinCo at $48/share, assuming Alibaba trades at the midpoint of current levels and Evercore's $130 target.
    • Alibaba reports tomorrow morning.
    • Update: Yahoo closed down 3.2%. Alibaba closed down 4.4%.
    | 11 Comments
  • 12:38 PM
    • The European Commission clears Mylan's (MYL -0.1%) $5.3B acquisition of Abbott's (ABT +0.7%) non-U.S. Developed Markets Specialty and Branded Generics Business. The EC is concerned that the transaction would potentially reduce competition so its approval is contingent upon the divestment of some of Mylan's businesses in Germany, the U.K., France, Ireland and Italy.
    | Comment!
  • 12:33 PM
    • National Oilwell Varco (NOV -4.9%) hits a 52-week low after shares are downgraded to Underperform from Neutral with a $43 price target, down from $60, at Credit Suisse, which says NOV appears to be the most negatively impacted stock by many negative data points coming through its 2-3 year outlook.
    • The firm says NOV is an exceptionally well-managed company, but believes the rig systems business - 44% of estimated 2014 EBIT - will be hurt by an expected lack of new deepwater rig orders through 2016 and its exposure to slowing North American and international activity due to lower oil prices.
    | 11 Comments
  • 12:23 PM
    • Expect plenty of foreign capital to continue flowing into the sector, says MLV analyst Ryan Meliker. This will contribute to cap rate compression, making it more difficult for REITs to make accretive purchases.
    • The West Coast should lead the country in job generation, and thus rent growth, making Essex Property Trust (ESS) - essentially a pure-play on major markets there - an interesting pick.
    • The Northeast is split - with Boston and NYC expected to outperform on rent growth, but Philadelphia, Baltimore, and D.C. predicted to lag.
    • Strength in the Southeast will be led by Atlanta, and Central and South Florida. Meliker's top pick, Preferred Apartments (APTS +0.6%) has a strong presence in Atlanta.
    • "Conference participants agreed that Houston was in for difficult times ahead – there was no sugar coating how oil prices might affect job growth and therefore demand for multifamily housing."
    • Others of interest: Aimco (AIV +0.6%), Associated Estates (AEC +3.1%), AvalonBay (AVB -0.2%), Post Properties (PPS +0.3%), UDR (UDR +0.3%), Camden Property (CPT -0.3%), Home Properties (HME +0.2%), Mid-America (MAA +0.1%), Trade Street Residential (TSRE -0.6%), Equity Residential (EQR +0.3%).
    | Comment!
  • 12:17 PM
    • U.S. Steel (X +13.5%) soars the day after its Q4 earnings crushed expectations and reporting a strong quarter and year despite extreme headwinds, providing confidence that it can handle whatever 2015 brings.
    • Although the company warned that low oil prices and the strong U.S. dollar could negatively impact its business in 2015, it said the potential for higher consumer spending could help lift demand.
    • Credit Suisse calls it “another impressive quarter within the context of a challenging operating environment” but maintains a Market Perform rating and $31 price target on the stock.
    • UBS keeps its rating at Neutral but cuts its price target to $25 from $32, saying X's competitive position worsens as imports ramp up, oil capex falls and iron ore prices weaken while conceding that guidance provides some validation that the Carnegie project is delivering more sustainable operating profit than in the past (Briefing.com).
    • Cowen maintains an Outperform rating and $40 target.
    | 2 Comments
  • 12:11 PM
    • The purchases added 1,138 units in the Chicago region at a cost of $158M. One on deal, the first year cap rate should be 6%, and the other 5.8%.
    • Sold were 663 units in the D.C. area and 672 units in Chicago for a total of $157M. HME's unlevered IRR on the dispositions was 11.3%.
    • Source: Press Release
    | 1 Comment
  • 12:08 PM
    • Suffolk Bancorp (NASDAQ:SUBK) declares $0.06/share quarterly dividend, in line with previous.
    • Forward yield 1.09%
    • Payable Feb. 25; for shareholders of record Feb. 11; ex-div Feb. 9.
    | Comment!
  • 12:08 PM
    | Comment!
  • 12:00 PM
     
    • Dow +0.24%.
    • 10-yr +0.13%.
    • Euro -0.34% vs. dollar.
    • Crude -2.83% to $44.92.
    • Gold -0.47% to $1,286.80.
    | 1 Comment
  • 12:00 PM
    • Thinly-traded nano cap Cleveland BioLabs (NASDAQ:CBLI) slumps 18% on double normal volume albeit on turnover of only 37K shares.
    • The company executed a 1:20 reverse stock split yesterday in order to regain compliance with the Nasdaq $1 minimum bid price rule.
    | 1 Comment
  • 11:57 AM
    • Zhone (ZHNE +1.4%) guided on its Q4 CC (transcript) for revenue to fall ~10% Q/Q in Q1, and then grow sequentially throughout 2015. That implies Q1 revenue of $27.1M, slightly below a sole analyst estimate of $28M. Operating expenses ($11.3M in Q4) are expected to stay in an $11M-$11.5M range in Q1, before falling by ~$1M in Q2 thanks to Zhone's restructuring.
    • The fiber access equipment maker added it's "looking forward to returning to profitability" in 2015; the sole 2015 EPS estimate is at $0.03. It talked up the potential of its new MXKF access concentrator, and reiterated it thinks its FiberLAN enterprise optical LAN offerings can be a $100M/year business in five years.
    • Zhone had three 10%+ customers in Q4 (all international), up from two in Q3. Its cash balance fell by $2M Q/Q to $11.5M. Shares were initially up sharply, but have pared their gains.
    • Q4 results, PR
    | Comment!
  • 11:53 AM
    • Peabody Energy (BTU -3.5%) is downgraded to Hold from Buy at BB&T, which notes that the share price is hardly cheap considering it bakes in metallurgical coal prices ~11% above the most recent quarterly benchmark.
    • BTU says that even under a higher met coal price scenario, BTU still would have estimated net debt/EBITDA of 6.6x and a negative free cash flow yield; the company's projected numbers and the anticipated macro environment for coal simply do not justify a Buy rating, the firm says.
    | Comment!
  • 11:40 AM
    • Lloyds (LYG -1%) CEO Antonio Horta-Osorio has presided over a doubling in the stock's market value over the past three years, and a reduction in the government's stake in the lender, and he's now among the front-runners for the CEO slot at StanChart (OTCPK:SCBFF -5.3%), reports Bloomberg.
    • Also being considered is HSBC's U.K. CEO Antonio Simoes.
    • Standard Chartered is coming under pressure from large shareholders to replace current CEO Peter Sands amid poor recent results and a slide in the stock price.
    • Maybe making it tough to poach Horta-Osorio: He "absolutely" committed to Lloyds for the duration of its three-year restructuring plan announced three months ago.
    | Comment!
  • 11:40 AM
    • Johnson Controls (NYSE:JCI) declares $0.26/share quarterly dividend, in line with previous.
    • Forward yield 2.24%
    • Payable April 2; for shareholders of record March 6; ex-div March 4.
    | Comment!
  • 11:40 AM
    • Thinly-traded nano cap Apricus Biosciences (APRI +14.8%) jumps on a 7x surge in volume in response to its announcement that the USPTO has issued Patent No. 8,940,794, titled "Methods and Compositions for Treating Raynaud's Disease," with claims generally directed to methods for treating Raynaud's phenomenon, secondary to systemic sclerosis. The patent will be effective until 2032.
    • The company's product candidate for the treatment of Raynaud's is RayVa (alprostadil topical cream), currently in Phase 2 development. There are no approved therapies for the condition.
    • Raynaud's disease is condition where toes and fingers feel numb and cold in response to cold temperatures or stress, brought about by the narrowing of the small arteries that supply blood to the skin.
    | Comment!
  • 11:37 AM
    • Plug Power (PLUG -7.2%) says it has "received a lot of criticism for underdelivering," which it cites as a reason to lower its guidance for FY 2015 revenues to "in excess of" $100M, below $123M analyst consensus estimate.
    • In its business update conference call, PLUG says it expects to achieve $200M in 2015 bookings with sales of more than 3,300 GenDrive units and GenDrive product gross margins of greater than 29%.
    • PLUG also says it recently closed two "significant" deals but does not provide specifics.
    | 15 Comments
  • 11:35 AM
    • Canada's TELUS (NYSE:TU) has taken a 20% stake in Quebec-based IT/consultant firm Alithya.
    • The firms plan to offer joint solutions/services, and TELUS will send 94 employees to Alithya in the coming weeks to form a combined team of about 600 consultants.
    | Comment!
  • 11:34 AM
    • Carlsberg (OTCPK:CABGY) disclosed it froze hiring and salary increases due to the ongoing problems with the brewer's business in Russia.
    • A pressured Russian economy has impacted beer volume by about 7% over a 9-month period.
    | Comment!
  • 11:30 AM
    • Arctic Cat (ACAT -3.8%) reports sales of snowmobiles and ATVs fell 15.7% Y/Y to $165.45M in FQ3.
    • Sales of parts and garments were down 4.1% to $28.28M.
    • The company's gross profit rate rose 20 bps to 18.0% on a favorable shift in mix.
    • Guidance: Full-year sales of $705M-$715M expected and EPS of $1.24-$1.32.
    | 1 Comment
  • 11:26 AM
    • In an analysis done by long time SA Contributor Quoth the Raven (QTR), Herbalife's (HLF -1.7%) gross margins have shown incredible stability for almost eight years, ranging between 77.3% to 81.3% over 31 quarters. This is the fourth lowest variance in the entire S&P 500 over this time frame.
    • QTR finds this remarkable in light of the company's presence in more than 90 countries and exposure to the swings in 20 major currencies, although it's possible that Herbalife has a world-class hedging competency that smooths out the vicissitudes better than larger, more complex firms.
    • According to QTR, his research is meant to spur discussions about Herbalife as investors debate its prospects and its reactions to the pronouncements of short seller Pershing Square.
    | 37 Comments
  • 11:24 AM
    • Citing a major dropoff in customer growth, ITG Research has cut its Q4 Zulily (ZU -7%) revenue estimate to $395M. The Thomson/First Call consensus is at $410.9M.
    • Given history, Zulily's Q4 report will likely arrive in February. Earlier this month, CEO Darrell Cavens told Forbes Zulily might shutter its U.K. ops, the company's only international outpost.
    • Shares have made fresh post-IPO lows.
    | Comment!
  • 11:21 AM
    • Ultra Petroleum (UPL -7.6%) is downgraded to Sell from Neutral with an $11 target price, down from $13, at Goldman Sachs, citing the deflationary pressures in the oil market which the firm believes will be felt in natural gas.
    • Goldman sees some greater downside risk to UPL’s production given its weaker balance sheet relative to E&P peers and higher cost gas assets relative to Marcellus and Utica peers; the firm also views UPL's focused Pinedale and Uinta as merely average assets.
    | 12 Comments
  • 11:16 AM
    • Shares of Caesars Entertainment (CZR +6.3%) spike higher after a judge rules the bankruptcy case will proceed in Chicago ahead of a filing from creditors in Delaware.
    • The Chicago venue is seen as more friendly for Caesars.
    | Comment!
  • 11:07 AM
    • In addition to beating FQ1 estimates, Kulicke & Soffa (NASDAQ:KLIC) has guided for FQ2 revenue of $125M-$145M, above a $128.4M consensus at the midpoint.
    • Ball bonder equipment sales fell 54.9% Q/Q, and wedge bonder sales 9.6%. Quarter-ending backlog was $60.5M vs. $79.1M at the end of FQ4 and $46M a year earlier.
    • Gross margin rose 350 bps Q/Q and 240 bps YY to 50.9%, and operating expenses rose 11% Y/Y to $45M.
    • Kulicke ended FQ1 with $633.4M in cash/short-term investments. That's equal to 57% of its current market cap. Shares have risen to their highest levels in more than a decade.
    • FQ1 results, PR
    | Comment!
  • 11:03 AM
    • The ETFS Zacks Earnings Large-Cap U.S. Index Fund (NYSEARCA:ZLRG) and ETFS Zacks Earnings Small-Cap U.S. Index Fund (NYSEARCA:ZSML) were launched on January 20th, marking ETF Securities first stray from its commodities focus.
    • Both new funds were developed to capture Zacks’ proprietary investment ranking strategy based on earnings estimate revisions and earnings quality.
    • “We are delighted to be the first ETF provider to bring to market what Zacks is known for: expertise in earnings analysis," said Mike McGlone, Director of Research at ETF Securities, in a statement.
    • Other U.S. earnings focused ETFs: EZM, EPS, EES, EXT
    | Comment!
  • 11:00 AM
     
    • Dow -0.1%.
    • 10-yr +0.21%.
    • Euro -0.35% vs. dollar.
    • Crude -2.23% to $45.20.
    • Gold -0.28% to $1,289.30.
    | 5 Comments
  • 10:58 AM
    • Shares of HSN (HSNI +0.8%) are higher after the company enters into a new credit facility agreement.
    • The new credit mechanism gives HSN a $750M revolving credit facility and $500M in delayed draw term loans.
    • SEC Form 8-K
    | Comment!
  • 10:57 AM
    • Petrobras (PBR -10%) plunges after releasing its delayed Q3 results but failing to announce a writedown related to the corruption scandal at the company, which had been seen as step toward restoring credibility.
    • In unaudited results, PBR said Q3 net profit fell 8.8% to $1.18B and EBITDA tumbled 10% to $4.5B, but that it was "impracticable" to give a figure on the financial damage from the alleged bribery and kickback scheme at this time.
    • Earlier this month, some creditors agreed to accept unaudited Q3 results as long as they were released by the end of this week, but some analysts say the Brazilian government may still have to provide PBR with emergency funding, which would strip the company of its investment-grade credit rating and endanger the country’s investment-grade status.
    • PBR did report a charge of 2.7B reais related to the construction of two refinery projects in northeast Brazil after deciding not to move forward with them; it also said its new 2015 budget would total U.S. $31B-$33B after averaging ~$44B/year as part of its plan to spend more than $220B by 2018.
    | 27 Comments
  • 10:55 AM
    • Shares of Tupperware (TUP +10.8%) are flying after the company bested analyst estimates with its Q4 report on an improved gross margin rate.
    • Execs with Tupperware took some shots at multi-level marketing during the call. Some distinct lines are drawn by management over its "local" model and direct selling. MLMs consume huge numbers of people who don't sell or do very much, notes CEO Rick Goings.
    • Managing currency swings is nothing new for Tupperware. The company views hedges as gambling.
    • Resin costs are moving in the right direction for Tupperware.
    • Earnings call webcast
    | Comment!
  • 10:53 AM
    • Though Radware (NASDAQ:RDWR) beat Q4 estimates, it guided on its CC (webcast) for Q1 revenue of $56M-$58M and EPS of $0.20-$0.23, mostly below a consensus of $58.1M and $0.23.
    • Larger rival F5 offered a soft outlook last week.
    • Q4 results, PR
    | Comment!
  • 10:51 AM
    • Conmed Corp. (CNMD -1.7%) Q4 results: Revenues: $195M (-4.1%); Gross Profit: $104M (-6.6%); R&D Expense: $7.1M (+10.9%); SG&A: $74.9M (-9.1%); Operating Income: $17.1M (+5.6%); Net Income: $11.3M (+10.8%); EPS: $0.41 (+13.9%).
    • Segment Sales: Orthopedic Surgery: $101.7M (-5.6%), General Surgery: $75.4M (-1.8%), Surgical Visualization: $17.9M (-5.3%).
    • FY2014 results: Revenues: $740.1M (-3.0%); Gross Profit: $404.1M (-2.1%); R&D Expense: $27.8M (+7.8%); SG&A: $293.9M (-5.4%); Operating Income: $52.8M (-6.5%); Net Income: $32.2M (-10.3%); EPS: $1.16 (-9.4%); Quick Assets: $66.3M (+21.9%); CF Ops: $65.2M (-19.4%).
    • Segment Sales: Orthopedic Surgery: $402.8M (-1.8%), General Surgery: $279.4M (-2.5%), Surgical Visualization: $57.9M (-12%).
    • Fiscal 2015 Guidance: Revenue: $727M - 742M; Adjusted EPS: $1.82 - 1.92.
    | Comment!
  • 10:43 AM
    • Citing rising competition, Wells Fargo has downgraded AOL to Market Perform ahead of its Feb. 11 Q4 report.
    • The downgrade comes on a week that has seen Re/code report AOL is likely shuttering gaming site Joystiq and carrying out a major restructuring of its ad sales teams. The latter is said to be driven by the online ad market's ongoing shift towards programmatic (automated) ad buys; programmatic now accounts for 40% of AOL's ad business.
    | Comment!
  • 10:41 AM
    • The EIA reported oil inventories rising 8.9M barrels last week vs. 10.1M the week earlier, and expectations for a 4.6M gain.
    • Last night, the API reported a 12.7M barrel gain in inventories.
    • Gasoline (NYSEARCA:UGA) stocks fell 2.6M barrels vs. a small gain the previous week, and forecasts for another small gain.
    • Distillates (NYSEARCA:UHN) fell 3.9M barrels vs. a 3.3M barrel decline last week and estimates for 1.7M barrels this week.
    • WTI crude is bouncing on the EIA report, maybe as it's not as bearish as the API print. As low as $44.66 ahead of the 10:30 release, it's now at $45.28, down 2.1% on the session. USO -1.6%
    • Previously: EIA Petroleum Inventories (Jan. 28)
    • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM
    | 14 Comments
  • 10:41 AM
    • Babcock & Wilcox's (BWC -0.2%) subsidiary, B&W Vølund, has been awarded contracts by Margam Green Energy for more than $200M to engineer, procure and operate a biomass power plant in Wales.
    • The facility will be designed to generate approximately 40 MW of electricity and will be capable of using municipal waste as a fuel source in the future.
    | Comment!
  • 10:36 AM
    • Apple (NASDAQ:AAPL) has seen at least ten target hikes after soundly beating FQ1 estimates on the back of a big iPhone sales print. Shares are less than $2.50 away from a high of $119.75.
    • UBS' Steve Milunovich: "The 74.5mn unit iPhone figure deserves all the adjectives analysts can muster, especially given that (1) supply/demand balance was not achieved until Jan, and (2) 49% sell-thru growth bettered the sell-in increase of 46% ... our guess that iPhone 6+ was 30% of total iPhone units likely was near the mark." He sees an 18% iPad unit decline and "flattish" iTunes revenue as the only negatives.
    • BTIG' Walter Piecyk: "The strongest criticism you may hear today is that Apple created too difficult a comp for the December 2015 quarter based on an unsupported assumption that ‘everyone upgraded their phone in 2014.’ We believe that assumption is wrong."
    • Citi believes new smartphone upgrade/installment plan options from carriers are providing a lift, as is interest in 64GB models. It adds shares are still only trading at 13x forward EPS (10.4x exc. cash).
    • On SA, Orange Peel Investments sees room for shares to run to $150 (18x forward earnings), aided by smartphone and PC share gains and China growth. Paulo Santos offers a contrarian take, arguing the improving quality of cheap Android phones is a threat.
    • Prior Apple earnings coverage
    • Update (12:45PM): Carl Icahn has chimed in on CNBC. He now asserts Apple is worth $215/share (above a prior $203 target), and reiterates his call for bigger buybacks.
    | 36 Comments
  • 10:35 AM
    • Enterprise Products Partners (EPD -1.1%) says it is investigating the cause of an explosion that erupted from a pipeline break earlier this week in West Virginia.
    • The Appalachia-to-Texas Express ethane line is new and started moving fuel only last year; it originates in Pennsylvania and brings ethane from the Marcellus and Utica shale formations to the storage site in Mont Belvieu, Tex.
    • The fire occurred in a remote area and did not cause injuries or structural damage, and EPD said the affected portion of the line was quickly isolated and shut off.
    | Comment!
  • 10:35 AM
    • W.W. Grainger (NYSE:GWW) declares $1.08/share quarterly dividend, in line with previous.
    • Forward yield 1.86%
    • Payable March 1; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Comment!
  • 10:34 AM
    • Winmark (NASDAQ:WINA) declares $0.06/share quarterly dividend, in line with previous.
    • Forward yield 0.29%
    • Payable March 2; for shareholders of record Feb. 11; ex-div Feb. 9.
    | Comment!
  • 10:33 AM
    • Abiomed (ABMD +31.3%) FQ3 results: Revenues: $62M (+34.2%); COGS: $9.8M (+3.2%); R&D Expense: $8.4M (+7.7%); SG&A: $30.1M (+23.4%); Operating Income: $13.7M (+197.8%); Net Income: $12.7M (+188.6%); EPS: $0.3 (+172.7%); Quick Assets: $113.4M (+48.0%).
    • Fiscal 2015 Guidance: Revenues: $223M - 226M from $209M - 212M from $205M - 212M; operating margin: 9 - 11% from 1 - 4%.
    | Comment!
  • 10:32 AM
    • Noting the trillions of dollars forecast to be passed on from baby boomers in the coming decades, TD Ameritrade (NYSE:AMTD) Institutional announces a strategic alliance with National Advisors Trust Company to create Advisors Private Wealth Trust.
    • The offering will be available to RIAs that custody assets with TD Ameritrade Institutional.
    • Source: Press Release
    | Comment!
  • 10:31 AM
     
    • EIA Petroleum Inventories:
    • Crude +8.9M barrels vs. +4.6M consensus, +10.1M last week.
    • Gasoline -2.6M barrels vs. +0.3M consensus, +0.6M last week.
    • Distillates -3.9M barrels vs. -1.7M consensus, -3.3M last week.
    • Futures -3.07% to $44.81
    | Comment!
  • 10:30 AM
    • Terex (TEX +0.4%) will report Q4 and full-year results on Feb. 17. The conference call is scheduled to begin at 8:30 a.m. EST on Feb. 18.
    • Consensus view is EPS of $0.68 on revenues of $1.86B.
    | Comment!
  • 10:28 AM
    • Hershey (HSY +0.4%) is improvising in order to make up for lost impulse buying as more consumers shop online or use self-checkouts at stores, a top exec tells CPGmatters.
    • The company plans to test new locations for vending machine, place dispensers near checkout lines, and add strategic kiosks in order to bring impulse buying back into the equation.
    | Comment!
  • 10:27 AM
    • More Chinese investment in Hollywood as Hunan TV & Broadcast agrees with Lions Gate (NYSE:LGF) to invest a combined $1.5B into making and distributing films.
    • The deal covers the next three years and means that Hunan will set up a unit in the U.S., and Lions Gate will also help distribute Hunan's Chinese films in overseas markets.
    • China's Dalian Wanda -- already one of the biggest theater operators in the U.S. -- was reportedly in talks to buy a stake in Lions Gate.
    | Comment!
  • 10:24 AM
    • Accuray (ARAY +4.4%) FQ2 results: Revenues: $98.2M (+4.9%); COGS: $59.7M (+7.6%); Operating Expenses: $42.1M (+8.2%); Operating Loss: ($3.6M) (-414.3%); Net Loss: ($10M) (-85.2%); Loss Per Share: ($0.13) (-85.7%); Quick Assets: $97.3M (+5.4%).
    • Fiscal 2015 Guidance: Revenues: $390M - 410M (unch); non-GAAP EBITDA: $18M - 27M (unch).
    | Comment!
  • 10:24 AM
    • Chevron (CVX -2.2%) says it plans to work with BP (BP -2.1%) and ConocoPhillips (COP -1.7%) to explore and appraise 24 jointly held offshore leases in the northwest part of Keathley Canyon in the deepwater Gulf of Mexico.
    • The move marks a significant strategic retreat for BP, which will sell to CVX half its equity interests in the Gila and Tiber fields, huge deepwater discoveries found during the past decade, as it continues to scale back its balance sheet and cut costs; financial terms are not disclosed.
    • CVX and COP agreed to joint ownership interests in the Gibson exploration blocks east of Gila.
    • In Gila and Gibson, CVX will be the operator and own 36% interests, with BP holding 34% and COP 30%; in Tiber, CVX and BP each will own 31%, Petrobras (NYSE:PBR) 20% and COP 18%.
    | Comment!
  • 10:23 AM
    • Marriott Vacations Worldwide (NYSE:VAC) will report Q4 results on Feb. 26 before the market opens.
    • The conference call is scheduled to begin at 10.00 a.m. ET.
    • Consensus view is EPS of $0.60 on revenues of $530.66M.
    | Comment!
  • 10:19 AM
    • OTR Global upgrades Buffalo Wild Wings (BWLD +3.5%) to a Positive rating from Mixed.
    • The ratings lift from the boutique firm is based in part on channel checks on store traffic.
    • Buffalo Wild Wings increased menu prices by an average of 3% in November which will go a long way to offsetting the higher wholesale cost of wings this month.
    • What to watch: Though some traders are betting on a Buffalo Wild Wings Super Bowl sales boost with the point spread of the game tighter (New England -1) than its been since 1982, the history of the BWLD Super Bowl trade has been highly variable. The notable exception was the blackout game two years ago when Buffalo Wild Wings disclosed a discernible sales bounce on one of its busiest days of the year due to the length of the game.
    | Comment!
  • 10:11 AM
    • Meritor (NYSE:MTOR) reports Commercial Truck & Industrial sales fell 3.30% to $703M, driven by lower production in Europe, South America and defense as well as unfavorable exchange rates.
    • Aftermarket & Trailer sales grew 2.97% to $208M, primarily due to slightly higher revenue in North America and pricing actions executed during fiscal year 2014.
    • Segment EBITDA: Commercial Truck & Industrial: $56M (+9.80%); Aftermarket & Trailer: $25M (+19.05%).
    • FY2015 Guidance: Revenue: ~$3.7B; Adjusted EBITDA margin: ~9.0%; Adjusted EPS from continuing operations: $1.20 to $1.30; Free cash  flow: ~$100M; Capital expenditure: $80M to $90M; Interest expnese: $80M to $90M; Cash interest: $65M to $75M; Tax rate: ~20%.
    • FQ1 results
    | Comment!
  • 10:10 AM
    • The Federal Home Loan Bank will only allow Doral Financial (DRL -7.6%) to borrow funds overnight, rather than for 30 days.
    • The FHLB reminds it cannot lend at all if so notified by the FDIC. The next scheduled check of Doral's status with the FDIC is Feb. 22, and it's not looking great as the bank has received a directive from the agency to boost its capital and/or merge with another lender.
    • Source: SEC Form 8-K
    | Comment!
  • 10:09 AM
    • Natus Medical (BABY +1.5%) Q4 results: Revenues: $94M (+3.8%); COGS: $35.6M (-4.3%); Operating Expenses: $44.3M (+13.9%); Operating Income: $14.1M (-2.1%); Net Income: $9.9M (+5.3%); EPS: $0.30 (unch).
    • FY2014 results: Revenues: $355.8M (+3.4%); COGS: $141M (-0.4%); Operating Expenses: $169M (+0.7%); Operating Income: $45.9M (+32.3%); Net Income: $31.7M (+36.1%); EPS: $0.97 (+27.6%); Quick Assets: $66.7M (+18.9%).
    • 2015 Guidance: Revenue: $373M - 375 from $367M - 369M; Non GAAP EPS: $1.42 - 1.46 from $1.40 - 1.44.
    • FQ1 2015 Guidance: Revenue: $88M - 90M from $87M - 89M; Non GAAP EPS: $0.28 - 0.30 (unch).
    | Comment!
  • 10:08 AM
    • Though VMware (NYSE:VMW) beat Q4 estimates and added $1B to its buyback, the company guided on its CC (transcript, earnings slides) for Q1 revenue of $1.49B-$1.51B and full-year revenue of $6.64B-$6.76B, below consensus estimates of $1.55B and $6.85B.
    • Also: License revenue growth is expected to fall to 2%-3% in Q1 from Q4's 13%, and amount to 6%-9% for the whole of 2015. If not for forex, guidance would respectively be for 5%-6% and 9%-12% growth.
    • VMware plans to buy back at least $1B worth of shares in 2015, up from 2014's $700M. The capex budget (boosted by cloud investments) is $400M.
    • Given the outlook, and the fact that VMware's Q4 license bookings for products other than its vSphere server virtualization platform (when sold by itself) grew nearly 40% in Q4, traditional vSphere sales appear to be under heavy pressure. Microsoft has been claiming share gains for its Hyper-v platform, and open-source solutions (Xen, KVM) have also been gaining ground.
    • On the bright side, end-user computing bookings (PC virtualization and AirWatch's enterprise mobility management offerings) rose over 60%. AirWatch now has 15K+ customers (declared by VMware to be twice that of its nearest rival), and saw over $200M worth of 2014 bookings.
    • The NSX SDN/networking virtualization platform is on a $200M+ bookings run rate, and saw its paid customer count rise over 60% Q/Q in Q4 to 400+. Paid customers for the VSAN storage virtualization platform have topped 1K.
    • Needham has downgraded VMware to Hold. Parent EMC (EMC +0.5%) is up moderately ahead of tomorrow's Q4 report, aided by a 1% gain for the Nasdaq.
    | 1 Comment
  • 10:00 AM
     
    • Dow +0.46%.
    • 10-yr +0.12%.
    • Euro -0.61% vs. dollar.
    • Crude -2.53% to $45.06.
    • Gold -0.5% to $1,286.40.
    | 1 Comment
  • 9:59 AM
    • Gazprom (OTCPK:OGZPY) says it has canceled a plan to expand its Nord Stream natural gas pipeline because of the weak gas market and political tensions between Russia and the west.
    • Existing capacity through Nord Stream, which runs under the Baltic Sea and serves Germany, is enough for now and there is no immediate need for an expansion, Gazprom says.
    • Nord Stream consists of two pipes with an annual capacity of 55B cm, enough to supply ~10% of the European Union's annual gas needs; the construction of two more pipes would have doubled capacity.
    | 8 Comments
  • 9:58 AM
    | Comment!
  • 9:56 AM
    • Anthem (ANTM +0.5%) Q4 results: Revenues: $18,984.3M (+6.0%); Operating Expenses: $17,890.7M (+3.9%); Operating Income: $887.1M (+88.8%); Net Income: $506.7M (+64.0%); EPS: $1.80 (+267.3%).
    • FY2014 results: Revenues: $73,874.1M (+4.0%); Operating Expenses: $68,603.3M (+3.6%); Operating Income: $4,368.1M (+13.7%); Net Income: $2,560.1M (-2.8%); EPS: $8.99 (+9.6%); Quick Assets: $2,151.7M (+36.0%); CF Ops: $3,369.3M (+10.4%).
    • 2015 Guidance: Operating Revenue: $78.0B - 78.5B; Benefit expense ratio: 83.0% +/- 30 bps; SG&A expense ratio: 16.1% +/- 30bps; Operating Gain: >$4.75B; GAAP EPS: >$9.30; Adjusted EPS: >$9.70; Operating Cash Flow: >$3.5B; Medical Membership: 38M - 38.2M.
    | Comment!
  • 9:54 AM
    • Nissan (OTCPK:NSANY) recalls 768K vehicles in separate actions.
    • The recalls cover SUVs and crossovers which in the past have been segments more damaging to automakers on brand reputation.
    • Recall #1: 215,789 Pathfinders SUVs from model years 2013-2014 due to a problem with secondary hood latches. (NHTSA notice)
    • Recall #2: 552,125 Rogue vehicles from model years 2008 to 2013 to address an issue with a mositure leak. (NHTSA notice)
    | Comment!
  • 9:48 AM
    • Aregntina's YPF and China's Sinopec (NYSE:SNP) sign an MOU aimed at eventually partnering to develop oil and gas projects in the South American country.
    • SNP, which is already Argentina's fourth-leading oil producer, has no experience in unconventional oil in the country, but a potential partnership could entail YPF helping develop its conventional output while the Chinese company would invest alongside YPF to raise shale oil production.
    • YPF already has partnered with Chevron and Malaysia's Petronas to develop shale oil in Vaca Muerta, and has been courting international investors to boost unconventional energy output one of the world's top shale oil and gas prospects.
    | Comment!
  • 9:46 AM
    • After about a 70% run higher over the last year for Booz Allen (BAH +4.4%) and a big gain today following earnings, boosted guidance, dividend, and buyback, Wells Fargo calls it quits on its Underperform rating, and upgrades to Market Perform.
    • Previously: Booz Allen beats, boosts guidance, dividend, and buyback (Jan. 28)
    | Comment!
  • 9:45 AM
    • EPS of $1.11 vs. $0.99 a year ago.
    • Net interst income +15% Y/Y to $212.6M due to increase in average volume of earning asset partially offset by 5 bps decrease in NIM to 3.34%.
    • Average deposits +17.9% Y/Y to $23.7B. Average loans +16.7% Y/Y to $10.9B.
    • Return on average assets 1.02%. Return on common equity 10.36%
    • Conference call at 11 ET.
    • CFR -1.8%.
    • Previously: Cullen/Frost Bankers EPS in-line, beats on revenue
    | Comment!
  • 9:44 AM
    • Shareholders with Reynolds American (RAI +1.5%) have approved an issuance of shares in connection with the company's acquisition of Lorillard (LO +0.8%).
    • The merger is still subject to regulatory approval.
    • The company expects a closing in the first half of 2015.
    • Reynolds American merger update (.pdf)
    | Comment!
  • 9:44 AM
    • International Paper (NYSE:IP) reports gross margin rate remained constant at 69.1%.
    • Segment sales: Industrial packaging: $3.697B (-0.48%); Printing papers: $1.440B (-8.28%); Consumer packaging: $855M (-1.16%).
    • Segment operating profit: Industrial packaging: $484M (-0.41%); Printing papers: $155M (+8.39%); Consumer packaging: $55M (+71.88%).
    | Comment!
  • 9:43 AM
    • Providing a springboard for more orders, Bombardier ((OTCQX:BDRBF), (OTCPK:BDRAF)) expects to receive safety certification from China for its high-speed trains as early as next month.
    • The regulatory clearance means the company will be able to begin delivering 80 of its CRH380D trains first ordered in 2009, worth an estimated $2B.
    • Bombardier, which has five joint ventures in the country, is the only foreign firm in China able to take orders for a whole high-speed train.
    | Comment!
  • 9:42 AM
    • JMP Securities must not have a great view of the U.S. housing market going forward as it downgrades Re/Max Holdings (RMAX -6.7%) to Underperform from Market Perform.
    | Comment!
  • 9:39 AM
    • Founded in 1988 and based in NYC, Ryan Labs Asset Management specializes in liability driven investing and total return fixed income strategies, and has about $5.1B in AUM. Sun Life's (NYSE:SLF) purchase of the company is expected to close this quarter.
    • Sun Life started its third-party business in Canada last year, and this purchase will extend its footprint in the U.S.
    • Source: Press Release
    | Comment!
  • 9:39 AM
    • Meredith Corp. (NYSE:MDP) EPS rose 45% in Q2 on strong operating margin of 20% (up five percentage points).
    • Breakdowns: Local Media Group revenues of $157M (up 50%), operating profit of $60M (up 64%); National Media Group revenues of $242M, operating profit of $30M (up 7%).
    • Total digital ad revenues up 45%.
    • The acquisition of Shape magazine continues Meredith's recent string of takeovers (including two TV stations, licensing Martha Stewart Living and Martha Stewart Weddings, and acquiring MyWedding.com and Selectable Media).
    • "Advertising trends strengthened ... our recent acquisitions are performing above expectations," says CEO Stephen Lacy.
    • First-half 2015 EPS is up 35% Y/Y to $1.65, excluding special charges.
    • Q2 results
    • Shares up 1.4%
    • Previously: Meredith to take over Shape magazine (Jan. 28 2015)
    | Comment!
  • 9:33 AM
    • Mobileye (MBLY -2.6%) is selling off in early trading on account of its lockup expiration. SA author Don Dion recently observed major pre-IPO shareholders collectively own over 120M shares that could become eligible for sale. That's ~3x the 40.9M shares the driver-assistance tech leader sold through its IPO.
    • Last week, Mobileye announced plans to sell up to $500M worth of shares for existing holders through an offering meant to alleviate selling pressure.
    | Comment!
  • 9:32 AM
     
    • Dow +0.51% to 17,476.00. S&P +0.66% to 2,043.00. Nasdaq +1.28% to 4,741.31.
    • Treasurys: 30-year +0.13%. 10-yr +0.08%. 5-yr +0.03%.
    • Commodities: Crude -2.01% to $45.30. Gold -0.51% to $1,286.30.
    • Currencies: Euro -0.36% vs. dollar. Yen -0.02%. Pound +0.08%.
    | 1 Comment
  • 9:30 AM
    | 1 Comment
  • 9:28 AM
    • Airbus (OTCPK:EADSY) CEO Tom Enders has promised "management and organizational consequences" as a result of the production and delivery problems that are affecting the company’s €20B A400M tactical transport program.
    • "We have problems – I admit that," said Enders on Tuesday. "We have additional delays and I very much regret that we are unable to meet the commitments made to our customers several years ago."
    • Airbus failed to achieve its planned delivery totals for the A400M in 2013 and 2014, with a combined 11 having been handed over to customers by the end of last year – three fewer than initially scheduled.
    | Comment!
  • 9:28 AM
    • SoTHERLY Hotels (NASDAQ:SOHO) declares $0.07/share quarterly dividend, 7.7% increase from prior dividend of $0.065.
    • Forward yield 3.65%
    • Payable April 10; for shareholders of record March 13; ex-div March 11.
    | Comment!
  • 9:26 AM
    • Ford (NYSE:F) plans to recall 221K vehicles in separate actions tied to interior door handles and seat beat fasteners.
    • A recall of 205K vehicles for door handles involves 2010-2013 Ford Taurus, Lincoln MKS, and Ford police interceptor cars sold largely in North America.
    • A second recall of 16.1K 2014 Ford Transit Connect cars covers a seat belt issue.
    • Share of Ford are unchanged in premarket action.
    | 9 Comments
  • 9:25 AM
     
    • Stock futures point to a higher open, with the Nasdaq looking especially strong after Apple reported better than expected results; S&P +0.3%, Dow +0.1%, Nasddaq +1%.
    • Major European indexes trade mostly lower, while Asian markets ended on a mixed note.
    • Apple could help turn sentiment around after yesterday's losses - at least for tech stocks - after reporting another record quarter with sales of 74.5M iPhones and a 38% jump in profits; shares +7.5% premarket.
    • Other tech names such as Electronic Arts, Freescale Semi, Western Digital and Yahoo also are on course for strong opening gains.
    • Treasurys have surrendered the bulk of their overnight gains, leaving 10-year yield lower by a basis point at 1.81%.
    • The FOMC releases its latest policy directive at 2 p.m., which is not expected to bring any change in policy or forecasts.
    • Also ahead: EIA petroleum inventories
    | Comment!
  • 9:25 AM
    • LG Display (NYSE:LPL): Q4 Net Income of KRW 389B
    • Revenue of KRW  8,342B (+27.4% Y/Y)
    • Press Release
    | Comment!
  • 9:23 AM
    • Publisher Meredith Corp. (NYSE:MDP) has agreed to acquire popular fitness title Shape magazine (along with digital brands Shape, Natural Health and Fit Pregnancy) from American Media.
    • Terms weren't disclosed, but the deal is accretive to fiscal 2015.
    • The print magazine will combine with existing title Fitness and join More, Eating Well, EveryDay with Rachael Ray and others in Meredith's Women's Lifestyle Group.
    • Shape's new rate base will rise 60% to 2.5M.
    | Comment!
  • 9:23 AM
    • Tompkins Financial (NYSEMKT:TMP) declares $0.42/share quarterly dividend, in line with previous.
    • Forward yield 3.17%
    • Payable Feb. 17; for shareholders of record Feb. 9; ex-div Feb. 5.
    | Comment!
  • 9:18 AM
    • Hess (NYSE:HES) -1.7% premarket as Q4 earnings fall short of Wall Street expectations, as lower gas prices dragged down earnings despite increased production.
    • Q4 oil and gas production averaged 362K boe/day, up 18% Y/Y, with Bakken output of 102K boe/day representing a ~50% Y/Y increase.
    • HES expects overall FY 2015 production to average ~350K boe/day, up ~10% Y/Y, driven by a full year of production from the Tubular Bells field in the Gulf of Mexico following first production in late 2014.
    • HES says it plans to reduce its spending in the Bakken oil patch by 18% Y/Y to $1.8B, with technology as well as lower oil prices factoring into the decision; the company expects to drill almost as many wells as it did last year while running only half of the drilling rigs.
    • HES announced Monday it was cutting its overall capex budget for 2015 by 16% to $4.7B.
    | 1 Comment
  • 9:17 AM
    • Meredith (NYSE:MDP): FQ2 EPS of $1.00 beats by $0.02.
    • Revenue of $398.91M (+12.7% Y/Y) beats by $5.24M.
    • Press Release
    | Comment!
  • 9:16 AM
    • FXCM will forgive about 90% of its clients who incurred negative balances in certain jurisdictions as a result of the violent move in the Swiss franc last week.
    • Certain clients, however - such as institutional types, high net worth and experienced traders - will be notified that they're expected to pay up. This group represents about 10% of customers with negative balances, but more than 60% of the money owed.
    • Source: Press Release
    • Shares +7% premarket
    • Previously: FXCM: January activity on pace for a record (Jan. 27)
    | 3 Comments
  • 9:15 AM
    • Shares of Graphic Packaging Holding (NYSE:GPK) are on watch after Vertical Research Partners identifies the stock as a likely target of International Paper (NYSE:IP).
    • Analysts in the sector think the merger between Rock-Tenn and MeadWestvaco will push more paper producers into a consolidation mode.
    • GPK is already up 4.8% for the week.
    | 1 Comment
  • 9:14 AM
    | 3 Comments
  • 9:13 AM
    • Louisiana-Pacific (NYSE:LPX) will report Q4 and full-year results on Feb. 11. The conference call is scheduled to begin at 12:00 p.m. EST.
    • Consensus view is EPS of -$0.13 on revenues of $485.1M.
    | Comment!
  • 9:12 AM
    • Progressive (NYSE:PGR): Q4 EPS of $0.63 beats by $0.18.
    • Revenue of $4.61B (+13.8% Y/Y) beats by $140M.
    • Press Release
    | Comment!
  • 9:11 AM
    • Tupperware (NYSE:TUP) reports revenue grew 6.0% in local currency in Q4.
    • Segment sales: Europe: $194.0M (-9.85%,, even in local currency); Asia Pacific: $230.2M (+2.04%, +7% in local currency); Tupperware North America: $90.4M (-4.74%, -2% in local currency ); Beauty North America: $70.9M (-10.14%, -6% in local currency); South America: $94.4M (-7.90%, +38% in local currency).
    • Segment operating income: Europe: $43.7M (-8.58%); Asia Pacific: $58.9M (+6.32%); Tupperware North America: $18.9M (-12.90%); Beauty North America: $2.3M (-30.30%); South America: $18.9M (-3.08%).
    • The company's gross margin rate improved 20 bps to 66.54%.
    • FQ1 Guidance: Income before income taxes: $59.7M to $62.8M; Income tax: $15M to $15.8M (Tax rate: 25%); Net income: $44.7M to $47M. Adjusted net income:$49.4M to $51.7M; Diluted EPS: $0.89 to $0.94; Adjusted EPS: $0.98 to $1.03; Average number of diluted shares: 50.1M.
    • FY2015 Guidance: Income before income taxes: $307.1M to $313.7M; Income tax: $77.6M to $79.3M (Tax rate: 25%); Net income: $229.5M to $234.4M. Adjusted net income:$245.3M to $250.2M; Diluted EPS: $4.58 to $4.68; Adjusted EPS: $4.90 to $5.00; Average number of diluted shares: 50.1M.
    • TUP +7.23% premarket.
    | 5 Comments
  • 9:08 AM
    | 4 Comments
  • 9:08 AM
    • Tompkins Financial (NYSEMKT:TMP): Q4 EPS of $0.85 in-line.
    • Revenue of $59.75M (-0.5% Y/Y) beats by $1.71M.
    • Press Release
    | Comment!
  • 9:06 AM
    • Caesarstone Sdot-Yam (NASDAQ:CSTE) will report Q4 and full-year results on Feb. 11. The conference call is scheduled to begin at 8:30 a.m. ET.
    • Consensus view is EPS of $0.59 on revenues of $115.3M.
    | Comment!
  • 9:05 AM
    • D.A. Davidson upgrades Packaging Corp. of America (NYSE:PKG) to a Buy rating from Neutral on what it sees as an overreaction to the firm's Q1 guidance.
    • The investment firm sets a $90 price target on shares.
    • It's been a volatile week for the paper/containerboard sector after Rock-Tenn and MeadWestvaco announced their merger on Monday.
    • PKG +2.5% premarket to $78.20.
    | Comment!
  • 9:04 AM
    | Comment!
  • 9:03 AM
    • Knight Transportation (NYSE:KNX): Q4 EPS of $0.40 beats by $0.07.
    • Revenue of $317.47M (+27.1% Y/Y) beats by $17.99M.
    • Shares +4.63% PM.
    • Press Release
    | Comment!
  • 9:02 AM
    • Thinly-traded micro cap Pluristem Therapeutics (NASDAQ:PSTI) is up 11% premarket on robust volume in apparent response to a bullish report from Acceleron equity research with a price target of $21. It estimates EPS of $0.40 in 2017 and $1.25 in 2018.
    • Acceleron believes the company will make significant progress this year in its clinical pipeline including shortening the time to market for its first product, PLX cells for critical limb ischemia, currently in Phase 2 in Europe. New Adaptive Licensing legislation in the European Union allows for limited commercialization of cell therapies after a successful Phase 2 study. Pluristem has yet to disclose a timeline for approval, however.
    • As with any investment opportunity, retail investors should complete their own thorough due diligence before considering taking action.
    | Comment!
  • 9:01 AM
    • Cullen/Frost Bankers (NYSE:CFR): Q4 EPS of $1.11 in-line.
    • Revenue of $295.2M (+12.0% Y/Y) beats by $19.01M.
    • Press Release
    | Comment!
  • 9:00 AM
     
    • S&P +0.25%.
    • 10-yr +0.06%.
    • Euro -0.24% vs. dollar.
    • Crude -2.23% to $45.20.
    • Gold -0.39% to $1,287.80.
    | Comment!
  • 9:00 AM
    • Adjusted net income of $20.1M, or $0.41 per share vs. $30.7M, or $0.62 per share in the same quarter a year ago.
    • Home sale revenue increased 7% to $493.1M from $460.9M for the prior year period.
    • Gross margin from home sales of 16.3% down from 17.4%; Homebuilding SG&A rate of 11.1% vs. 12%.
    • Ending active community count of 159, up 9%.
    • Ending backlog dollar value at the end of the quarter was up 31% at 663.2M.
    • Q4 results
    | Comment!
  • 8:59 AM
    • Noble Energy (NYSE:NBL) and the Cyprus government are discussing the potential exploitation of the 4.5T cf Aphrodite gas field discovered in 2011, the country's energy minister says.
    • Delek Drilling and Avner Oil each own 15% of Aphrodite, with NBL controlling the rest; Aphrodite is adjacent to the much larger Leviathan field in Israeli waters in which the three companies also hold a concession.
    • The minister also says discussions had almost concluded with Total (NYSE:TOT) on modifying an existing exploration permit after initial results showed no tangible reserves in an area where it was licensed.
    | 2 Comments
  • 8:58 AM
    • CorEnergy (NYSE:CORR) declares $0.13/share quarterly dividend, in line with previous.
    • Forward yield 7.65%
    • Payable Feb. 27; for shareholders of record Feb. 13; ex-div Feb. 11.
    | 1 Comment
  • 8:56 AM
    • Starting Feb. 1, Schwab (NYSE:SCHW) will add 18 more ETFs to Schwab OneSource, bringing the number of ETFs available under the commission-free program to 198.
    • OneSource had $38M in AUM as of year-end, with inflows of more than $10B in 2014 representing 43% of total ETF flows at the company.
    • The added ETFs: IBLN, PIZ, PIE, PDP, DWAS, PAF, IGHG, ALTS, XOVR, QMEX, QKOR, QTWN, RSCO, LOWC, AGZD, HYZD, USDU, DNL
    • Source: Press Release
    | Comment!
  • 8:48 AM
    • Cenovus Energy (NYSE:CVE) cuts its capital spending budget by an additional $700M, the second time Canada's no. 2 independent oil producer has announced capex cuts in response to lower oil prices.
    • CVE says the cuts will focus largely on conventional operations in southern Alberta and Saskatchewan, where it will suspend the bulk of its drilling program for the year; it will continue to fund optimization and expansion programs at its Christina Lake oil sands project, as well as the expansion at Foster Creek.
    • In December, CVE projected spending of C$2.5B-C$2.7B, a ~15% reduction from 2014 levels; it is now targeting spending of C$1.8B-C$2B.
    • CVE also plans to “realign” its workforce in the coming weeks in line with its revised spending plans and to cut the size of its contract workforce.
    • Reduces its oil production forecast for 2015 to 195K-212K bbl/day from 197K-214K bbl/day it forecast in December.
    | 1 Comment
  • 8:46 AM
    • Adjusted net income of $155.2M, or $0.63 per diluted share vs. $135.7M, or $0.55 per diluted share, in the same period a year ago.
    • Revenue by segment: Electronic Instruments +14%; Electromechanical +1%.
    • Earnings for 2015 are expected to be in the range of $2.58-$2.63 per diluted share; first quarter earnings are anticipated to be in the range of $0.61-$0.63 per diluted share.
    • Q4 results
    | Comment!
  • 8:43 AM
    • Q4 net income of $77.1M or $0.45 per share vs. $65.5M and $0.37 one year ago. This year's income took a hit from a $10.7M write-down on an equity investment in a wealth services firm in China, partially offset by a tax benefit.
    • Private bank operating profit of 11.98M vs. $3.1M a year ago on revenue of $112M vs. $105.9M.
    • Investment advisor operating profit of $34.4M up 16% Y/Y, on a revenue gain of 11%. Institutional investors operating profit of $36.4M up 15% on a revenue gain of 8%. Investment managers operating profit of $23.8M up 19% on a revenue gain of 8%.
    • Conference call at 2 ET
    • Previously: SEI Investments EPS of $0.45 (Jan. 28)
    • SEIC no trades premarket
    | Comment!
  • 8:41 AM
    • Liberty Media (NASDAQ:LMCA) CEO Greg Maffei says that the government will likely approve the giant media merger deals on the table -- Comcast (NASDAQ:CMCSA) with Time Warner Cable (NYSE:TWC), and AT&T (NYSE:T) with DirecTV (NASDAQ:DTV) -- but the key issue will be what the firms are forced to give up.
    • "My bet would be that all those deals get done," Maffei tells CNBC. "What is the set of regulations or restrictions around them and what the acquiring companies have to agree to, that'll be the rub.
    • Liberty's interest in Charter Communications (NASDAQ:CHTR) is on his mind: "Charter has been an acquirer, is going to continue to be an acquirer" -- and Charter will have room to make buys if Comcast ends up swallowing TWC.
    • Previously: Comcast-Time Warner Cable merger review clock running again (Jan. 13 2015)
    • Previously: DirecTV hiking prices ahead of AT&T deal's closing (Dec. 29 2014)