Seeking Alpha
  • Today - Thursday, April 24, 2014

  • 2:27 PM
    • United Continental (UAL -9.4%) put in a weaker quarter than Delta Air Lines and American Airlines in Q1 with passenger traffic dropping 0.3% and a key revenue metric sliding 2%.
    • Of note, the company's higher exposure to Asia was a drag in Q1 and could continue to pull down its overall results.
    • The under-performance by UAL in Q1 was enough to prompt Wolfe Research to warn the carrier may face a "significant structural disadvantage" to its peers.
    • Investors have some concerns of their own, pushing UAL shares down to below $42.
    | Comment!
  • 1:58 PM
    • Coca-Cola (KO -0.1%) selects Kathy Waller to be the firm's new CFO, effective immediately.
    • Waller replaces Gary Fayard who is retiring.
    • The exec was most recently serving the company as Vice President, Finance and Controller.
    | Comment!
  • 1:40 PM
    • A forecast from J.D. Power and LMC Automotive calls for automobile sales in the U.S. to reach 1.1M units in April, up 5% Y/Y.
    • The average transaction price in April is expected to be 3.6% higher at close to $29.8K.
    • What to watch: Close to half of the new models in 2014 are arriving in the premium segment which will cause new competition as some premium pricing dips down into the levels of non-premium models.
    • Automakers: GM, F, TM, FIATY, HMC, NSANY, TSLA, VLKAY, DDAIF, HYMLF, BAMXY, KIMTF, MMTOF, TTM
    | 1 Comment
  • 1:08 PM
    • Re/code reports Amazon (AMZN +3.5%) is paying HBO (TWX +0.1%) $300M over three years for its streaming deal. While steep, that figure is less than many estimated, particularly given the cost of Amazon's deals with Viacom and Epix.
    • The Amazon/HBO deal covers many of HBO's biggest hits, including The Sopranos, The Wire, and Six Feet Under, Boardwalk Empire, and True Blood. (early seasons for the last two). But it doesn't cover HBO's biggest current hit (Game of Thrones).
    • Separtely, Amazon has launched Prime Pantry, its latest salvo at supermarkets and Wal-Mart/Target's grocery ops. Prime Pantry allows Prime subs in the continental U.S. to have up to 45 pounds of groceries shipped for a flat fee of $6. It arrives as Amazon gradually expands the reach of its AmazonFresh same-day delivery service.
    • Shares are up strongly ahead of today's Q1 report. Recent ChannelAdvisor data has been encouraging, a sales tax survey less so.
    | Comment!
  • 12:57 PM
    • Tobacco stocks brush aside news that the FDA is moving closer to regulating the e-cigarette industry.
    • Lorillard (LO +1.1%), Altria (MO +0.6%), Reynolds American (RAI +1.5%), Vector (VGR +1.1%), and Philip Morris (PM +0.6%) are all in positive territory for the day.
    • The early read on the action by the FDA is that it may favor the larger players in the e-cig industry as the barriers to entry become more rigid.
    | Comment!
  • 12:37 PM
    • Tesla Motors (TSLA -0.1%) appears to have a friend in the Federal Trade Commission on the issue of the direct sale of automobiles to buyers.
    • In a blog post on the FTC website, the agency says it's "bad policy" for consumers accustomed to using the Internet to compare and shop be forced into the dealership network.
    • The automaker has run into some roadblocks in several states where powerful dealership associations have been hard to brush aside.
    | 20 Comments
  • 12:20 PM
    • Time Warner Cable (TWC +0.2%) narrowed video customer losses to 34K in Q1 while adding 269K new broadband subscribers.
    • At the end of the quarter, the company had 11.2M video customers and 11.4M broadband Internet customers in its fold.
    • Average monthly programming costs per video subscriber rose 10.2% to $37.69, but overall the company kept a lid on cost increases.
    | Comment!
  • 10:17 AM
    • Hyundai (HYMLF) reports Q1 profit of 1.93T won ($1.86B) on a 1% Y/Y gain in revenue to 21.65T won ($20.86B). The profit mark missed the consensus estimate of analysts.
    • The automaker's weak performance in the U.S. hurt overall results. Boosted capacity in China was a positive factor.
    • Shares of Hyundai fell close to 2% in Asian markets.
    | Comment!
  • 9:56 AM
    • IMAX (IMAX -4.9%) trades lower after missing profit estimates with its Q1 report and coming in about $2.5M light on revenue.
    • The company reports a backlog of 431 theatres compared to 282 a year ago.
    • During Q1, IMAX signed contracts for 36 new theatres.
    | Comment!
  • 9:50 AM
    • Fandango (CMCSA) buys Movieclips from Zefr Inc. for an undisclosed amount.
    • The network has an impressive presence on YouTube with an average of over 200M video views per month.
    • The acquisition will give Fandango the opportunity to integrate the content from Movieclips across its online and mobile platforms.
    | Comment!
  • 9:43 AM
    • Under Armour (UA -7.5%) trades lower after execs strike a slightly cautious tone during the firm's earnings call.
    • Comments by management on Under Armour's sales growth into Q4 and SG&A expenses for Q2 and Q3 could bring valuation questions to the forefront if they are interpreted as not meeting some bullish expectations.
    • Earnings call webcast
    • Previous: UA earnings
    | 8 Comments
  • 9:24 AM
    • Miller Tabak lifts its rating on Brinker International (EAT) to a Buy rating from Hold on a valuation call.
    • The restaurant operator only showed a meager 0.7% rise in comp sales during Q1, but lowered its cost of sales.
    • Pricing hikes offset a slip in traffic at both Maggiano's and Chili's.
    | Comment!
  • 9:18 AM
    • Dover Motorsports (DVD): Q1 EPS of -$0.06 in-line.
    • Revenue of $0.18M (+50.0% Y/Y)
    • Press Release
    | Comment!
  • 9:18 AM
    • Meredith (MDP): Q1 EPS of $0.70 beats by $0.03.
    • Revenue of $367M (-0.7% Y/Y) misses by $3.33M.
    • Press Release
    | Comment!
  • 9:15 AM
    • American Airlines Group (AAL) turns a sizable profit in its first full quarter as merged company.
    • Passenger revenue per available seat mile improved 2.9% Y/Y in Q1 to $0.1367.
    • Total operating expenses fell 0.3% to $9.3B.
    • AAL +1.4% premarket
    | 2 Comments
  • 9:09 AM
    • Shares of General Motors (GM) perk up in early trading after the automaker's Q1 report doesn't contain any major surprises to the downside.
    • Despite the profit washout from recall costs, investors are focusing on the improving results from GM Europe and strong pricing trends in North America
    • GM +3.4% premarket to $35.55
    | 5 Comments
  • 9:05 AM
    • Overstock.com (OSTK): Q1 EPS of $0.16 misses by $0.09.
    • Revenue of $341.2M (+9.4% Y/Y) misses by $3.74M.
    • Press Release
    | Comment!
  • 9:05 AM
    • Royal Caribbean Cruises (RCL) says some minor voyage disruptions impacted results in Q1.
    • Ticket revenue was in-line with expectations during the quarter, while onboard revenue increased 3.4% Y/Y.
    • Booking volumes for the past three months increased 16% Y/Y.
    • RCL +0.7% premarket after the company shows some confidence and raises 2014 EPS guidance to $3.25-$3.45 from $3.20-$3.40.
    | Comment!
  • 8:59 AM
    • Sotheby's (BID) reports it increased net auction sales by 40% in Q1 to $730M on "record-setting" sales of impressionist art in London.
    • The strong results could take some of the wind out of the sail for Third Point in its efforts to convince shareholders that management is a bit of a failure.
    • BID +3.2% premarket
    | Comment!
  • 8:40 AM
    • Brunswick (BC): Q1 EPS of $0.60 in-line.
    • Revenue of $969.2M (-2.6% Y/Y) misses by $5.38M.
    • Press Release
    | Comment!
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