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NLOK

NortonLifeLock

$26.69 /

+0.075 (+0.28%)

16:29
01/09/20
01/09
16:29
01/09/20
16:29

NortonLifeLock declares special, one-time cash dividend of $12 per share

NortonLifeLock announced that its Board of Directors has declared a special, one-time cash dividend of $12 per share of NortonLifeLock common stock, returning over $8 billion of capital to shareholders. The dividend is payable on January 31, 2020 to all shareholders of record as of the close of business on January 23, 2020. Shareholders of record on January 23 must hold their shares through the close of January 31 payment date to receive the special dividend. The ex-dividend date will be February 3, the first business day after such payment date. This special dividend is in addition to the Company's regular quarterly cash dividend of $0.125 per share that was last paid on December 18, 2019. Additionally, in August 2019, the board authorized a $1.6 billion share repurchase plan to be executed during the transition period as the Company transforms into a standalone, pure-play leader in consumer Cyber Safety. "With this special dividend, and the $1.6 billion share repurchase program we recently put in place, we are delivering on our goal to return over 100% of the after-tax proceeds from the sale of our Enterprise Security assets to Broadcom," said Vincent Pilette, NortonLifeLock's CEO. "We remain committed to returning cash to shareholders through dividends as well as share repurchases. With our strong cashflow, we believe we are well positioned to invest in and execute on our strategy to deliver industry leading consumer Cyber Safety solutions worldwide."

NLOK NortonLifeLock
$26.69 /

+0.075 (+0.28%)

01/06/20 Barclays
NortonLifeLock upgraded to Overweight from Equal Weight at Barclays
12/10/19 Mizuho
After report of deal interest, Mizuho calls NortonLifeLock 'appetizing' target
11/27/19 Credit Suisse
NortonLifeLock reinstated with a Neutral at Credit Suisse
11/08/19
Fly Intel: Top five analyst initiations

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Earnings
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CRM

Salesforce

$187.79 /

+1.88 (+1.01%)

, MSFT

Microsoft

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, AMZN

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, AAPL

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Salesforce (CRM) is…

Salesforce (CRM) is scheduled to report results of its fourth fiscal quarter after the market close on Tuesday, February 25, with a conference call scheduled for 5:00 pm ET. What to watch for: 1. GUIDANCE: Along with its third quarter earnings report, Salesforce raised its fiscal year 2020 adjusted earnings per share view to $2.89-$2.90 from $2.82-$2.84. Consensus for earnings, which was $2.86 at the time, has increased to $2.90. The company also reaffirmed its 2020 revenue view of $16.99B-$17B. Consensus, which was $16.9B at the time, has risen slightly to $17B. In addition, the company provided fourth quarter adjusted EPS guidance of 54c-55c on a revenue of $4.74B-$4.75B. Consensus for earnings, which was at 62c at the time, has dropped to 55c, and estimates for revenue, which was at $4.72B, have increased to $4.75B. 2. PARTNERSHIPS: In November, Salesforce expanded its strategic partnership with Microsoft (MSFT), naming Microsoft Azure as its public cloud provider for Salesforce Marketing Cloud. Additionally in November, Amazon Web Services (AMZN) and the company announced an expansion of their partnership with Salesforce introducing Service Cloud Voice which integrates Amazon Connect. The company also announced in November the launch of two apps and the next-generation Salesforce Mobile SDK as part of its strategic partnership with Apple (AAPL). 3. COO APPOINTMENT: In December, the company appointed president and Chief Product Officer Bret Taylor as president and COO. In the role, Taylor leads Salesforce's global product vision, engineering, security, marketing and communications. 4. ANALYST VIEWS: On Friday, UBS analyst Jennifer Lowe raised her price target on Salesforce to $230 and kept her Buy rating, noting that outside of its expected Q4 results, the stock trades at a discount of over 40% relative to valuation levels implied by its SaaS peers. Lowe believes that the market is undervaluing the potential of its future M&A, which she expects to be a likely ongoing part of its growth strategy. Lowe adds that she also sees Salesforce free cash flow growth sustaining in the mid-20% over the next 5 years whether its growth is organic or inorganic. BMO Capital analyst Keith Bachman also raised his price target on Salesforce to $220 and kept his Outperform rating ahead of its Q4 results. The analyst says the company continues to generate durable growth from its core portfolio and also sees the stock price attractively valued relative to its "high-growth software" peers. Meanwhile, Stifel analyst Tom Roderick raised the firm's price target on Salesforce to $210 from $195 following checks that pointed to "a solid and steady fundamental environment and outlook" for Salesforce as well as the broader group. His checks are indicating that Salesforce has taken an even more aggressive strategy with its Enterprise License Agreements and he has heard that the strategy is resonating, with Salesforce said to have signed over 5 ELAs with Fortune 100 companies in Q4. He kept a Buy rating on the shares.

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Initiation
Fly Intel: Top five analyst initiations » 10:15
02/25/20
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CUE

Cue Biopharma

$19.16 /

+0.485 (+2.60%)

, WIX

Wix.com

$138.50 /

+7.04 (+5.36%)

, CLVS

Clovis

$8.95 /

-0.97 (-9.78%)

, SONO

Sonos

$12.17 /

+0.2 (+1.67%)

, METC

Ramaco Resources

$2.87 /

+0.03 (+1.06%)

Catch up on today's…

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cue Biopharma (CUE) initiated with an Outperform at Oppenheimer. 2. Wix.com (WIX) initiated with a Buy at Needham. 3. Clovis (CLVS) initiated with an Outperform at RBC Capital. 4. Sonos (SONO) initiated with a Neutral at BofA. 5. Ramaco Resources (METC) initiated with a Buy at Benchmark. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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