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AAWW

Atlas Air

$23.66 /

-0.14 (-0.59%)

18:43
01/28/20
01/28
18:43
01/28/20
18:43

Atlas Air and Southern Air prevail in dismissing two legal actions

Atlas Air Worldwide Holdings confirmed that Atlas Air, and Southern Air have prevailed in dismissing two legal actions brought by their pilot union, the International Brotherhood of Teamsters. The union filed these lawsuits last summer, seeking to vacate the management grievance decisions issued in favor of the companies by arbitrators Richard Bloch and George Nicolau, respectively. The decisions rendered by the U.S. District Court for the District of Columbia upheld the companies' position that the merger provisions in both the Atlas Air and Southern Air collective bargaining agreements apply. The merger provisions provide for a defined period of bargaining followed by binding interest arbitration for any unresolved issues. With these court rulings now rendered, the union is required to promptly provide the companies with an integrated seniority list of pilots, which will enable negotiations to proceed more expeditiously in reaching a new, competitive pilot contract.

AAWW Atlas Air
$23.66 /

-0.14 (-0.59%)

10/04/19 Wolfe Research
Atlas Air upgraded to Peer Perform from Underperform at Wolfe Research
09/24/19 Stifel
Atlas Air price target lowered to $39 from $54 at Stifel
09/17/19
Fly Intel: Top five analyst downgrades
09/17/19 Susquehanna
Atlas Air downgraded to Neutral from Positive at Susquehanna

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General news
FX Action: USD-CAD has lifted above Monday's high » 04:05
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General news
FX Update: The yen and Swiss franc firmed » 03:25
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General news
Asian Market Update: » 01:45
02/18/20
02/18
01:45
02/18/20
01:45

Asian Market Update:…

Asian Market Update: Treasuries and JGBs moved higher as Asian stock markets were hit by fresh virus jitters after The 10-year Treasury yield dropped -3.2 bp to 1.553%, as markets returned from holiday, JGB yields declined -2.0 bp to -0.060%. Apple warned of disruptions to both sales and demand, which highlighted the economic impact of the epidemic. Official data out of China seems to suggest that the virus is spreading at a slower rate, although even if one assumes a relatively quick bounce back, it is clear that the disruptions will hit the global economy in the first quarter of the year. Against that background Topix and Nikkei dropped 1.3% and -1.4% respectively, while the Hang Seng lost -1.4% and the CSI 300 -0.6%. China has already announced and implemented substantial support measures, including rate cuts and expectations that others will follow are keeping bonds underpinned. The minutes to the RBA meeting today confirmed that officials discusses the possibility of cutting rates two weeks ago, even if the official message was that an extended period of low rates is required. Weekly consumer confidence data out of Australia actually lifted to 109.1 from 107.8, but the AUD still declined while the yen got a boost from the pick up in risk aversion and USD-JPY fell back to 109.80. The PBOC set USD/CNY mid point at 6.9826 today, versus 6.9795 yesterday. The front end WTI future meanwhile fell to USD 51.71 per barrel.

Downgrade
Alstom downgraded to Neutral from Overweight at JPMorgan » 20:25
02/17/20
02/17
20:25
02/17/20
20:25
ALSMY

Alstom

$0.00 /

+ (+0.00%)

JPMorgan analyst Akash…

JPMorgan analyst Akash Gupta downgraded Alstom to Neutral from Overweight with a EUR 47 price target.

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Hot Stocks
Fly Intel: Top five weekend stock stories » 19:44
02/17/20
02/17
19:44
02/17/20
19:44
GOOGL

Alphabet Class A

$1,518.35 /

+4.81 (+0.32%)

, PIR

Pier 1 Imports

$3.54 /

-0.21 (-5.60%)

, ALSMY

Alstom

$0.00 /

+ (+0.00%)

, BDRBF

Bombardier

$0.00 /

+ (+0.00%)

, AAPL

Apple

$324.91 /

-0.02 (-0.01%)

, GOOG

Alphabet

$1,519.63 /

+5.05 (+0.33%)

, FB

Facebook

$214.21 /

+1.09 (+0.51%)

, VIAC

ViacomCBS

$34.96 /

-0.03 (-0.09%)

, VIACA

ViacomCBS

$38.76 /

-0.09 (-0.23%)

Catch up on the…

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. In a statement regarding quarterly guidance, Apple (AAPL) said that: "As the public health response to COVID-19 continues, our thoughts remain with the communities and individuals most deeply affected by the disease, and with those working around the clock to contain its spread and to treat the ill. [...] Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided for the March quarter due to two main factors. The first is that worldwide iPhone supply will be temporarily constrained. While our iPhone manufacturing partner sites are located outside the Hubei province - and while all of these facilities have reopened - they are ramping up more slowly than we had anticipated. [...] The second is that demand for our products within China has been affected. All of our stores in China and many of our partner stores have been closed. Additionally, stores that are open have been operating at reduced hours and with very low customer traffic." 2. Bombardier (BDRBF) announced that it has made the strategic decision to focus exclusively on business aviation and plans to accelerate its deleveraging through the sale of its rail business. Bombardier has signed a memorandum of understanding with Alstom SA (ALSMY) and the Caisse de depot et placement du Quebec for the sale of its Transportation business to Alstom. Under the transaction, Bombardier and la Caisse will sell their interests in Bombardier Transportation to Alstom on the basis of an enterprise value of $8.2B. Total proceeds, after the deduction of debt-like items and transferred liabilities, including pension obligations, and net of BT cash, are expected to be approximately $6.4B, subject to upward adjustments of up to $440M. After deducting la Caisse's equity position between $2.1B-$2.3B, Bombardier would receive net proceeds of between $4.2B-$4.5B, including $550M of Alstom shares for a fixed subscription price of EUR 47.50, monetizable after a three-month lock-up post-closing, subject to closing adjustments, indemnities and the EUR to USD exchange rate. 3. Pier 1 Imports (PIR) announced that it has entered into a Plan Support Agreement with a majority of its term loan lenders and is pursuing a sale of the company. To facilitate an orderly sale process and implement the PSA, the company and its subsidiaries have commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia. The company also intends to use this process to complete the previously announced closure of up to 450 store locations, which includes the closure of all its stores in Canada. 4. For months now, regulators, legislators, activists, and presidential candidates have been calling out the toxic impact that big tech platforms are having on privacy, security, and consumer choice, and there are signs that regulation is starting to hurt, Eric Savitz wrote in this week's edition of Barron's. But it is actually the self-imposed checks that could be most damaging to tech's bottom line in the months to come, with Google (GOOGL) beginning to limit cookies in its Chrome browser and Apple adding a feature in its iPhone software that alerts consumers when an app tracks their location, the author noted. Meanwhile, Facebook (FB) is starting to feel the effects of restrictions on both ad targeting and measurement, as the company says that "the majority of that impact lies in front of us." 5. ViacomCBS (VIAC) subsidiary Paramount's "Sonic the Hedgehog" set a record for a video game adaption with a three-day domestic opening of $58M and $70M for the four days. Overseas, the movie launched to $43M from 40 markets for a global bow of $101M through Sunday and $113M through Monday. "Sonic the Hedgehog" sports an A CinemaScore and a 63% Rotten Tomatoes rating.

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On The Fly
Box Office Battle: 'Sonic the Hedgehog' wins weekend with $70M opening » 18:03
02/17/20
02/17
18:03
02/17/20
18:03
T

AT&T

$38.24 /

-0.1 (-0.26%)

, CMCSA

Comcast

$46.08 /

+0.02 (+0.04%)

, CMCSK

Comcast

$0.00 /

+ (+0.00%)

, SNE

Sony

$68.84 /

-0.73 (-1.05%)

, LGF.A

Lionsgate

$10.66 /

+0.12 (+1.14%)

, LGF.B

Lionsgate

$10.05 /

+0.085 (+0.85%)

, DIS

Disney

$139.55 /

-1.32 (-0.94%)

, VIACA

ViacomCBS

$38.76 /

-0.09 (-0.23%)

, VIAC

ViacomCBS

$34.96 /

-0.03 (-0.09%)

"Box Office Battle" is…

Open Full Text

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Hot Stocks
Amazon's Bezos pledges $10B to climate change fight » 17:32
02/17/20
02/17
17:32
02/17/20
17:32
AMZN

Amazon.com

$2,135.08 /

-14.65 (-0.68%)

Amazon CEO Jeff Bezos…

Amazon CEO Jeff Bezos will commit $10B to fund scientists, activists, nonprofits and other groups fighting to protect the environment and counter the effects of climate change, according to an Instagram post by the executive. Reference Link

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Periodicals
U.S. considers cutting Huawei off from global chip suppliers, Reuters says » 17:29
02/17/20
02/17
17:29
02/17/20
17:29
TSM

TSMC

$58.19 /

-1.14 (-1.92%)

The Trump administration…

The Trump administration is considering changing U.S. regulations to allow it to block shipments of chips to Huawei from such as Taiwan's TSMC, Reuters' Alexandra Alper and Karen Freifeld report, citing two sources familiar with the matter. Reference Link

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Hot Stocks
Advance Auto Parts increases quarterly cash dividend to 25c per share » 17:25
02/17/20
02/17
17:25
02/17/20
17:25
AAP

Advance Auto Parts

$133.57 /

-1.065 (-0.79%)

Advance Auto Parts…

Advance Auto Parts announced that on February 12, 2020, its Board of Directors approved an increase in the company's quarterly cash dividend from 6c per share to 25c per share on the company's outstanding common stock. This dividend is payable April 3, 2020 to shareholders of record at the close of business on March 20, 2020.

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Earnings
Otter Tail reports Q4 adjusted EPS 51c, consensus 50c » 17:15
02/17/20
02/17
17:15
02/17/20
17:15
OTTR

Otter Tail

$54.77 /

+0.42 (+0.77%)

Reports Q4 revenue…

Reports Q4 revenue $215.7M, consensus $233.03M. Reports FY19 adjusted EPS $2.17, consensus $2.17.

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Hot Stocks
Rocky Brands declares quarterly cash dividend of 14c per share » 17:10
02/17/20
02/17
17:10
02/17/20
17:10
RCKY

Rocky Brands

$25.66 /

-0.3 (-1.16%)

Rocky Brands announced…

Rocky Brands announced that its board of directors has declared a quarterly cash dividend of 14c per share of outstanding common stock, which will be paid on March 16, 2020 to all shareholders of record as of the close of business on March 2, 2020.

Earnings
Transocean reports Q4 EPS (43c), consensus (30c) » 17:08
02/17/20
02/17
17:08
02/17/20
17:08
RIG

Transocean

$4.53 /

-0.14 (-3.00%)

Reports Q4 revenue $792M,…

Reports Q4 revenue $792M, consensus $817.77M. Reports FY19 EPS ($1.45), consensus ($1.31). Reports FY19 revenue $3.09B, consensus $3.13B.

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Earnings
Flowserve sees FY20 adjusted EPS $2.30-$2.45, consensus $2.45 » 17:01
02/17/20
02/17
17:01
02/17/20
17:01
FLS

Flowserve

$46.44 /

-0.51 (-1.09%)

Sees FY20 revenue growth…

Sees FY20 revenue growth 3%-5%, consensus $4.08B.

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Earnings
Flowserve reports Q4 adjusted EPS 66c, consensus 65c » 16:59
02/17/20
02/17
16:59
02/17/20
16:59
FLS

Flowserve

$46.44 /

-0.51 (-1.09%)

Reports Q4 revenue…

Reports Q4 revenue $1.07B, consensus $1.06B. Reports Q4 total bookings $1.05B. Reports FY19 adjusted EPS $2.20, consensus $2.19. Reports FY19 revenue $3.94B, consensus $3.93B. Reports FY19 total bookings $4.24B.

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Earnings
Gardner Denver sees FY20 adjusted EBITDA $540M-$570M  16:52
02/17/20
02/17
16:52
02/17/20
16:52
GDI

Gardner Denver

$36.83 /

-0.7 (-1.87%)

 
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Earnings
Gardner Denver reports Q4 adjusted EPS 37c, consensus 34c » 16:50
02/17/20
02/17
16:50
02/17/20
16:50
GDI

Gardner Denver

$36.83 /

-0.7 (-1.87%)

Reports Q4 revenue…

Reports Q4 revenue $605.8M, consensus $595.67M.

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Hot Stocks
DCP Midstream names Corey Walker President of Operations » 16:46
02/17/20
02/17
16:46
02/17/20
16:46
DCP

DCP Midstream

$20.29 /

+0.01 (+0.05%)

DCP Midstream announced…

DCP Midstream announced that Corey Walker has joined the company as the President of Operations. DCP's executive team includes two President of Operations roles that oversee an equal portion of the company's geographic footprint. Walker will oversee DCP's North and Midcontinent business units, including Southern Hills and other related logistics, marketing, and commercial operations. In addition to the Permian business unit, Don Baldridge, President of Operations, has expanded his responsibilities to oversee DCP's South business unit, including Sand Hills and other related logistics, marketing, and commercial operations.

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Earnings
Service Corp. sees FY20 adjusted EPS $1.96-$2.16, consensus $2.11  16:44
02/17/20
02/17
16:44
02/17/20
16:44
SCI

Service Corp.

$49.94 /

+1.29 (+2.65%)

 
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Earnings
Service Corp. reports Q4 adjusted EPS 60c, consensus 60c » 16:22
02/17/20
02/17
16:22
02/17/20
16:22
SCI

Service Corp.

$49.94 /

+1.29 (+2.65%)

Reports Q4 revenue…

Reports Q4 revenue $850.76M, consensus $847.6M. Reports FY19 adjusted EPS of $1.90, consensus $1.91. Reports FY19 revenue of $3.23B, consensus $3.23B.

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Hot Stocks
Apple warns on coronavirus, won't meet revenue guidance » 16:12
02/17/20
02/17
16:12
02/17/20
16:12
AAPL

Apple

$324.91 /

-0.02 (-0.01%)

In a statement regarding…

In a statement regarding quarterly guidance, Apple said that: "As the public health response to COVID-19 continues, our thoughts remain with the communities and individuals most deeply affected by the disease, and with those working around the clock to contain its spread and to treat the ill. Apple is more than doubling our previously announced donation to support this historic public health effort. Our quarterly guidance issued on January 28, 2020 reflected the best information available at the time as well as our best estimates about the pace of return to work following the end of the extended Chinese New Year holiday on February 10. Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided for the March quarter due to two main factors. The first is that worldwide iPhone supply will be temporarily constrained. While our iPhone manufacturing partner sites are located outside the Hubei province - and while all of these facilities have reopened - they are ramping up more slowly than we had anticipated. The health and well-being of every person who helps make these products possible is our paramount priority, and we are working in close consultation with our suppliers and public health experts as this ramp continues. These iPhone supply shortages will temporarily affect revenues worldwide. The second is that demand for our products within China has been affected. All of our stores in China and many of our partner stores have been closed. Additionally, stores that are open have been operating at reduced hours and with very low customer traffic. We are gradually reopening our retail stores and will continue to do so as steadily and safely as we can. Our corporate offices and contact centers in China are open, and our online stores have remained open throughout. Outside of China, customer demand across our product and service categories has been strong to date and in line with our expectations. The situation is evolving, and we will provide more information during our next earnings call in April. Apple is fundamentally strong, and this disruption to our business is only temporary. Our first priority - now and always - is the health and safety of our employees, supply chain partners, customers and the communities in which we operate. Our profound gratitude is with those on the front lines of confronting this public health emergency."

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Periodicals
Toyota to resume China output at three plants next week, Reuters reports » 15:57
02/17/20
02/17
15:57
02/17/20
15:57
TM

Toyota

$140.10 /

-0.91 (-0.65%)

Toyota said it plans to…

Toyota said it plans to resume output at three of its four main auto plants in China next week, according to Reuters. The resumption of production had initially been slated for February, but was delayed because of the new coronavirus outbreak in China, the report notes. Reference Link

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Periodicals
Bayer, BASF to pay $365M in weedkiller crop-damage suit, WSJ reports » 15:54
02/17/20
02/17
15:54
02/17/20
15:54
BAYRY

Bayer

$0.00 /

+ (+0.00%)

, BASFY

BASF

$0.00 /

+ (+0.00%)

A jury ruled against…

A jury ruled against Bayer (BAYRY) and BASF (BASFY) in a crop-damage case, awarding $265M to a Missouri peach farmer who claimed the companies encouraged farmers to irresponsibly spray a hard-to-control weedkiller, The Wall Street Journal's Jacob Bunge writes. Peach farmer Bill Bader sued the pesticide-and-seed makers after he said thousands of his fruit trees sustained damage in 2015 and 2016, the author notes, adding that he alleged the damage was caused by a herbicide called dicamba that drifted from neighboring cotton fields, planted with dicamba-resistant biotech seeds developed by Bayer and BASF. Reference Link

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Periodicals
Twitter says Olympics, IOC accounts hacked, Reuters reports » 15:49
02/17/20
02/17
15:49
02/17/20
15:49
TWTR

Twitter

$36.92 /

-0.23 (-0.62%)

Twitter said that an…

Twitter said that an official Twitter account of the Olympics and the International Olympic Committee's media account had been hacked and temporarily locked, according to Reuters. The accounts were hacked through a third-party platform, a spokesperson for the social media platform said in an emailed statement, without giving further details. Reference Link

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Hot Stocks
Cubic announces semiannual dividend » 15:37
02/17/20
02/17
15:37
02/17/20
15:37
CUB

Cubic

$65.26 /

+0.03 (+0.05%)

Cubic announced that its…

Cubic announced that its Board of Directors approved a regular semiannual dividend of $0.135 per share, payable on March 12, 2020, to shareholders of record on March 2, 2020. Cubic has consistently paid cash dividends to its shareholders since 1971.

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Periodicals
U.S. considers blocking GE engine sales for China's new plane, Reuters reports » 15:35
02/17/20
02/17
15:35
02/17/20
15:35
GE

General Electric

$12.83 /

-0.115 (-0.89%)

, HON

Honeywell

$180.79 /

+0.695 (+0.39%)

The U.S. government is…

The U.S. government is considering whether to stop General Electric (GE) from continuing to supply engines for a new Chinese passenger jet, Reuter's Karen Freifeld and Alexandra Alper write, citing people familiar with the matter. The potential restriction on the engine sales - possibly along with limits on other components for Chinese commercial aircraft such as flight control systems made by Honeywell International (HON) - is the latest move in the battle between the world's two largest economies over trade and technology, the authors note. Reference Link

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