Ingram Micro Inc.NYSE
Ingram Micro: Unexpected CFIUS Review Drives Arbitrage Spread To Attractive Levels
SevenSeas Investment Research • 60 Comments
SevenSeas Investment Research • 60 Comments
Thu, Oct. 27, 4:35 PM
Wed, Oct. 26, 5:35 PM
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Thu, Jul. 28, 4:24 PM
Wed, Jul. 27, 5:35 PM
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Tue, Jul. 26, 1:13 PM
- "We see an obvious flaw in this analysis," says David Einhorn in his Q2 letter to Greenlight Capital investors. He's referring to Andrew Left's Citron's short of Chemours (CC +8.5%). Left contended Chemours could face $5B in liabilities thanks to 3.5K lawsuits from people living near its Teflon plant in Parkersburg, WV. Double-checking with Left, Einhorn found no math to justify that lofty figure.
- Others have pegged the liability at just several hundred million dollars, not enough to topple the company.
- Greenlight is an owner of 8.8M shares as of March 31.
- In other Greenlight news, the hedge fund took advantage of the post-Brexit panic to cover shorts against Intuitive Surgical (ISRG +0.2%), Under Armour (UA -5.8%), and United Rentals (URI +2.3%).
- Longs sold out of include: American Capital Agency (AGNC +0.4%), Baxter International (BAX +3.3%), Ingram Micro (IM -0.7%), and Oil States International (OIS +0.7%).
- Greenlight fell 2.6% in Q2, bringing it nearly back to break-even for the year.
Thu, Jun. 23, 10:28 AM
- Ingram Micro (NYSE:IM) announces distribution agreement with Coresite Realty (NYSE:COR) to Coresite data center services and solutions to channel partners across U.S. and Canada.
- “The addition of CoreSite’s high-performance data center colocation solutions coupled with the strength of Ingram Micro’s cloud and data center resources will further enable our channel partners to solve for common customer challenges and more readily adopt trending technologies, including cloud, big data and mobility,” said Bill Brandel, Executive Director, Advanced Solutions at Ingram Micro
Fri, Apr. 29, 7:33 AM
- Ingram Micro (NYSE:IM): Q1 EPS of $0.35 misses by $0.18.
- Revenue of $9.34B (-12.2% Y/Y) misses by $740M.
Thu, Apr. 28, 5:30 PM| Thu, Apr. 28, 5:30 PM | 3 Comments
Thu, Feb. 25, 4:21 PM
- Ingram Micro (NYSE:IM): Q4 EPS of $1.01 misses by $0.03.
- Revenue of $11.31B (-19.0% Y/Y) misses by $1.07B.
- Shares -0.06%.
Wed, Feb. 24, 5:35 PM
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Thu, Feb. 18, 12:48 PM
Thu, Feb. 18, 9:22 AM
Wed, Feb. 17, 5:38 PM
Wed, Feb. 17, 4:30 PM
- Chinese logistics firm Tianjin Tianhai is acquiring Ingram Micro (NYSE:IM) for $6B, or $38.90/share, in cash. The price represents a 31% premium to Ingram's Wednesday close.
- The deal is expected to close in 2H16. Ingram is suspending its dividend and buyback program. Q4 results will be released on Feb. 25, but no earnings call will be held.
- IM +23.1% after hours to $36.50.
Wed, Feb. 3, 5:58 PM
- Kinder Morgan's (NYSE:KMI) Trans Mountain pipeline expansion can be built in a way that satisfies environmental concerns, a group of Canada’s largest oil companies argued today before the National Energy Board.
- The lawyer acting for Canadian Natural Resources (NYSE:CNQ), Suncor Energy (NYSE:SU), Imperial Oil (NYSE:IM), Cenovus Energy (NYSE:CVE) and others, said the NEB panel should weigh the benefits of the pipeline against both the risks of a potential spill as well as the risk-mitigation measures KMI has planned for the line.
- BP Canada's legal counsel added that demand on the existing pipeline between Alberta and Burnaby, B.C., far outstrips supply capacity on “the only pipeline system transporting crude oil to the west coast.”
- The Trans Mountain expansion would add 590K bbl/day of pipeline capacity.
Dec. 21, 2015, 6:03 PM
- Ingram Micro (NYSE:IM) has closed its purchase of Odin Service Automation, a software solution that helps carriers and other service providers deliver and manage cloud services, from PC virtualization software firm Parallels. The company has also bought "associated cloud management technologies, intellectual property and the Odin brand."
- Terms are undisclosed. Odin users include Vodafone, Telstra, KPN, Telefonica, and CenturyLink.
- The news comes on a day that also saw Ingram announce the closing of its $175M purchase of Dutch e-commerce fulfillment services firm Docdata (first announced in October), and the expansion of its Cloud Marketplace (allows channel partners to bundle/sell cloud services) to India.