TYC
Tyco International Ltd.NYSE
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  • Wed, Aug. 17, 4:36 AM
    • The Treasury Department issued rules this year that thwarted several tax inversions, but one large deal that managed to get through was the $16B acquisition of Tyco International (NYSE:TYC) by Johnson Controls (NYSE:JCI).
    • The last hurdle for the transaction is a vote today by both sets of shareholders.
    • Johnson Controls shareholders are set to vote in Dallas, while Tyco's shareholders will do so in Dublin.
    | Wed, Aug. 17, 4:36 AM | 10 Comments
  • Fri, Jul. 29, 6:30 AM
    • Tyco (NYSE:TYC) reports organic revenue growth of 1.5% in FQ3.
    • Acquisition contributed 3 percentage point of growth in the quarter.
    • Foreign currencies negatively impacted revenue by 3%.
    • Segment revenue: North America Installation & Services: $1B (+3%); Rest of World Installation & Services: $794M (-6%); Global Products: $651M (-4%).
    • SG&A expense rate rose 210 bps to 27.2%.
    • Segment operating income: North America Installation & Services: $148M (-150 bps to 14.7%); Rest of World Installation & Services: $92M (+60 bps to 11.6%); Global Products: $115M (+10 bps to 17.7%).
    • Adjusted operating margin rate dropped 30 bps to 14.5%.
    | Fri, Jul. 29, 6:30 AM
  • Fri, Jul. 29, 6:06 AM
    • Tyco (NYSE:TYC): FQ3 EPS of $0.54 beats by $0.01.
    • Revenue of $2.45B (-1.6% Y/Y) beats by $10M.
    • Press Release
    | Fri, Jul. 29, 6:06 AM
  • Thu, Jul. 28, 5:30 PM
  • Thu, Jul. 21, 10:06 AM
    | Thu, Jul. 21, 10:06 AM
  • Fri, Jul. 15, 10:18 AM
    • BMO technical analyst Russ Visch likes the following stocks:
    • MMM: breaks out of 2-yr range, new target $205.
    • AYI: successfully tested breakout at $241 level, next target $313.
    • CAT: “lots of positive developments” including beginnings of a bearish-to-bullish reversal; rally above $81 would signal uptrend resuming with target of $105.
    • EMR: successful retest of recent breakout, rally above $56.75 would open new target of $65.50.
    • GE: breaks out of triangle pattern, next target $37, implies nearly 15% gain.
    • TYC: has to breakout above $44 resistance, that would open new target of $48.
    • UNP: in bearish-to-bullish reversal, new long-term uptrend underway, next target $113, implies 23% gain.
    • UPS: to challenge all-time high at $114.40, breakout would be “extremely bullish” with new target $140.
    • Also likes: FAST, FLR, JEC, MAS, PH, UTX, VRSK
    | Fri, Jul. 15, 10:18 AM | 19 Comments
  • Wed, Jun. 8, 4:30 PM
    • Tyco (NYSE:TYC) declares $0.205/share quarterly dividend, in line with previous.
    • Forward yield 1.89%
    • Payable Aug. 17; for shareholders of record July 22; ex-div July 20.
    | Wed, Jun. 8, 4:30 PM
  • Tue, May 24, 3:59 PM
    • Johnson Controls (JCI +2.8%) enjoys strong gains after Credit Suisse upgraded shares to Outperform from Neutral with a $50 price target, raised from $45, saying concerns surrounding the Tyco (TYC +2.8%) merger now seem to be reflected in the valuation.
    • The firm says it had a number of concerns about the JCI-TYC merger, but now believes that many of them are either embedded in the JCI share price and/or it feels more at ease with the downside risk they pose.
    • Credit Suisse says it sees "almost no value" being given to JCI's Tyco merger or Adient (NASDAQ:ADNT) spinoff, and that after ascribing a "reasonable value" for these two deals, a fair value would be ~18% higher than the current share price.
    | Tue, May 24, 3:59 PM | 1 Comment
  • Mon, May 16, 2:57 PM
    • Johnson Controls (JCI +3.6%) says the planned spinoff of its auto parts business in October will be based in London, and shares in the new company will be treated as a taxable dividend for recipients, WSJ reports.
    • JCI's planned merger with Tyco International (TYC +4.7%) is effectively blocking the tax-free spin off of the Adient (NASDAQ:ADNT) auto business that was first envisaged, but the deal is expected make it easier for JCI to relocate the new company to London and will cut Adient's tax bill by more than a third.
    • The merger with Tyco will make JCI an Irish company, and spinning off Adient afterward will allow it to be immediately recognized as a foreign-based part of JCI; if Adient was spun off as a U.S.-based company, it would have to pursue an inversion on its own or with a foreign-based merger partner to relocate to a low-tax country.
    | Mon, May 16, 2:57 PM | 3 Comments
  • Fri, Apr. 29, 7:09 AM
    • Tyco (NYSE:TYC) reports organic revenue declined 1% in FQ2
    • Acquisition contributed 4 percentage point of growth in the quarter.
    • Segment revenue: North America Installation & Services: $947M (flat); Rest of World Installation & Services: $768M (-9%); Global Products: $616M (-4%).
    • SG&A expense rate improved 90 bps to 25.8%.
    • Segment operating income: North America Installation & Services: $131M (+60 bps to 13.8%); Rest of World Installation & Services: $77M (-60 bps to 10%); Global Products: $103M (-150 bps to 16.7%).
    • Adjusted operating margin rate grew 40 bps to 10.7%.
    • The company saw order pipeline growth of 7% in the quarter.
    • FQ3 Guidance: Adjusted EPS: $0.52 to $0.54.
    • FY2016 Guidance: Adjusted EPS: $2.05 to $2.10.
    | Fri, Apr. 29, 7:09 AM
  • Fri, Apr. 29, 6:07 AM
    • Tyco (NYSE:TYC): FQ2 EPS of $0.45 in-line.
    • Revenue of $2.33B (-4.1% Y/Y) misses by $10M.
    | Fri, Apr. 29, 6:07 AM
  • Thu, Apr. 28, 5:30 PM
    | Thu, Apr. 28, 5:30 PM | 3 Comments
  • Thu, Apr. 21, 9:12 AM
    • Johnson Controls (NYSE:JCI) says it will move forward with its planned $14B merger with Tyco International (NYSE:TYC) despite tougher rules on inversion deals.
    • JCI's says it expects the combined company to generate $650M in operational cost and tax savings over the first three years after the merger closes, which is anticipated near the end of both companies' fiscal years which close in September.
    • JCI +0.7% premarket after beating FQ2 earnings estimates and raising EPS estimates for FQ3 to $1.10-$1.04 vs. $0.98 analyst consensus estimate and for FY 2016 ending in September to $3.85-$4 vs. prior company guidance of $3.70-$3.90 and $3.78 analyst consensus.
    • Now read Johnson Controls-Tyco tie-up likely to survive Treasury rules, analyst says
    | Thu, Apr. 21, 9:12 AM | 4 Comments
  • Tue, Apr. 12, 7:18 PM
    • Johnson Controls' (NYSE:JCI) proposed inversion with Ireland-based Tyco International (NYSE:TYC) likely will stay on track, analysts say, despite new Treasury Department rules that killed Pfizer's merger with Allergan.
    • A major difference between the two deals is that the JCI-TYC hookup makes sense from a strategic point of view, regardless of tax benefits, according to Morningstar's David Whiston.
    • The analyst also says TYC has not issued stock to make acquisitions during the past three years, and large deals amounted to only a “few hundred million dollars” paid all in cash, which means JCI shareholder’s position in the combined company would remain below the 60% threshold beyond which the Treasury Department’s treatment of the deal becomes less advantageous.
    • Finally, the combined firm would have a post-merger tax rate of 16% rather than 19% for JCI in 2015, so Whiston sees the merger coming to fruition with JCI owning ~56% of the combined company.
    • Now read Shareholders rewarded in Johnson Controls-Tyco merger
    | Tue, Apr. 12, 7:18 PM | 1 Comment
  • Tue, Apr. 5, 2:50 PM
    | Tue, Apr. 5, 2:50 PM | 15 Comments
  • Mon, Mar. 14, 9:12 AM
    • Tyco (NYSE:TYC) declares $0.205/share quarterly dividend, in line with previous.
    • Forward yield 2.26%
    • Payable May 18; for shareholders of record April 22; ex-div April 20.
    | Mon, Mar. 14, 9:12 AM