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Fly News Breaks for January 17, 2020
Jan 17, 2020 | 04:54 EDT
KeyBanc analyst Sophie Karp upgraded Southern Company to Overweight from Sector Weight with a $71 price target.
News For SO From the Last 2 Days
Feb 20, 2020 | 09:05 EST
HIGHER: E-Trade (ETFC), up 24% after announcing Morgan Stanley (MS) will acquire the company in an all-stock transaction valued at approximately $13B. Under the terms of the agreement, E-Trade stockholders will receive 1.0432 Morgan Stanley shares for each E-Trade share, which represents per share consideration of $58.74 based on the closing price of Morgan Stanley common stock... Adesto Technologies (IOTS), up 55% after entering a definitive agreement for Dialog Semiconductor (DLGNF) to acquire all outstanding shares of the company for $12.55 per share in cash, or for approximately $500M enterprise value. UP AFTER EARNINGS: Domino's Pizza (DPZ), up 19%... TherapeuticsMD (TXMD), up 5%... (STMP), up 38%. DOWN AFTER EARNINGS: ViacomCBS (VIAC), down 9%... Southern Company (SO), down 2%... Six Flags (SIX), down 18%... (WIX), down 10%. ALSO LOWER: L Brands (LB), down 11% after the company and Sycamore Partners announced a transaction that positions Bath & Body Works as a standalone public company and separates Victoria's Secret Lingerie, Victoria's Secret Beauty and PINK into a privately-held entity. Under the terms of the transaction, Victoria's Secret, with a total enterprise value of $1.1B, will be separated from L Brands into a privately-held company majority-owned by Sycamore. After taking into account certain liabilities, Sycamore will purchase a 55% interest in Victoria's Secret for approximately $525M. L Brands will retain a 45% stake in Victoria's Secret... Morgan Stanley, down 4% after acquiring E-Trade in an all-stock transaction valued at approximately $13B.
Feb 20, 2020 | 06:53 EST
Reports Q4 revenue $4.91B, consensus $5.29B. "By all accounts, 2019 was an outstanding year for Southern Company, as we performed well across a broad range of metrics," said Chairman, President and CEO Thomas Fanning. "Operational performance at our state-regulated utilities was superb, with record generation and transmission reliability. Nicor Gas reliably delivered natural gas to customers in Illinois during unprecedented cold temperatures. We continued to decarbonize our generation fleet and we saw constructive outcomes in several key regulatory proceedings. At Georgia Power's Plant Vogtle, we accomplished all major 2019 milestones associated with the construction of new nuclear units 3 and 4," added Fanning. "We have refined our aggressive site work plan for the project, which will serve as a tool to drive improved productivity to achieve the regulatory-approved in-service dates of November 2021 for Unit 3 and November 2022 for Unit 4."
Feb 19, 2020 | 14:08 EST
Notable companies reporting before tomorrow's open, with earnings consensus, include Southern Company (SO), consensus 27c... American Electric Power (AEP), consensus 58c... Hormel Foods (HRL), consensus 46c... ViacomCBS (VIAC), consensus $1.44... Teleflex (TFX), consensus $3.22... EPAM Systems (EPAM), consensus $1.45... Domino's Pizza (DPZ), consensus $2.98... Norwegian Cruise Line (NCLH), consensus 70c... Henry Schein (HSIC), consensus 91c... LKQ Corp. (LKQ), consensus 52c... (WIX), consensus 31c... HollyFrontier (HFC), consensus 52c... Six Flags (SIX), consensus 15c... CommScope (COMM), consensus 34c... AK Steel (AKS), consensus (10c).