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Thursday, July 24, 2014

Lilly beats forecasts, vows to remain independent, (NYSE: TRI), (TSE: TRI.TO)

Eli Lilly and Co's quarterly revenue plunged due to generic competition for its Cymbalta depression drug and its Evista osteoporosis treatment, but cost controls helped earnings beat forecasts.Lilly on Thursday said it had earned 68 cents per share in the second quarter, above analysts' average forecast of 65 cents, according to Thomson Reuters I/B/E/S.Sales of Cymbalta, which lost U.S. patent protection in December, tumbled 73 percent to $401 million. Evista, which began facing cheaper generics in March, had a sales drop of 61 percent to $108 million.The Indianapolis drugmaker's sales and earnings have been badly hurt since late 2011, when its top-selling Zyprexa schizophrenia drug lost U.S. patent protection and faced competition from cheaper generics.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.16% or $-0.06/share to $36.88. In the past year, the shares have traded as low as $32.87 and as high as $38.73. On average, 758827 shares of TRI exchange hands on a given day and today's volume is recorded at 204739.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.01% or $-0.005/share to $39.62. In the past year, the shares have traded as low as $34.52 and as high as $42.10. On average, 587079 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 149196.



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SodaStream in buyout talks - Bloomberg, (NYSE: DPS), (NYSE: PEP)

Israel-based SodaStream International , which makes home soda machines, is in talks to be taken private in a deal valuing the company at $828 million, Bloomberg said, citing people familiar with the matter. The company's shares rose 19 percent to $34.37 on Thursday.SodaStream is in talks with an investment firm for a deal that would value the company at about $40 per share, Bloomberg said, adding no final agreement has been reached and talks could still fall apart. (bloom.bg/1qCyoRB)SodaStream was not immediately available for comment.Israeli media reported in April the company was in talks to sell a 10 to 16 percent stake to a large strategic entity. The Calcalist financial newspaper identified the potential investor as either PepsiCo Inc, Dr Pepper Snapple Group or Starbucks Co.

Dr Pepper Snapple Group, Inc. (DPS) is an integrated brand owner, manufacturer and distributor of non-alcoholic beverages in the United States, Canada and Mexico with a diverse portfolio of flavored (non-cola) carbonated soft drinks (CSDs) and non-carbonated beverages (NCBs), including ready-to-drink teas, juices, juice drinks and mixers. Shares of DPS traded higher by 4.67% or $2.73/share to $61.17. In the past year, the shares have traded as low as $43.18 and as high as $60.50. On average, 1438710 shares of DPS exchange hands on a given day and today's volume is recorded at 1963855.

PepsiCo, Inc. (PepsiCo) is a global food and beverage company. Shares of PEP traded higher by 1.33% or $1.21/share to $92.03. In the past year, the shares have traded as low as $77.01 and as high as $93.09. On average, 3932650 shares of PEP exchange hands on a given day and today's volume is recorded at 1978431.



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Energy Future seeks longer bankruptcy as it scraps plan, (NYSE: NEE)

Energy Future Holdings, the largest power company in Texas, asked a judge to extend the period in which it controls its Chapter 11 bankruptcy and said it is scrapping its original debt-cutting plan in favor of an auction of its Oncor unit. The company asked Delaware Bankruptcy Judge Christopher Sontchi to extend its exclusive right to seek a creditor vote on a plan of reorganization until April 25, 2015 from its current deadline in October.The company filed for bankruptcy on April 29, 2014 with a restructuring support agreement, or RSA, with some creditors that aimed to get a plan to cut its $40 billion in debt approved by Sontchi before February."Since the Debtors have filed for Chapter 11, certain parties have made potentially higher or better offers to the debtors and the debtors have decided to terminate the RSA to pursue such potential offers," the company's lawyers said in a Wednesday court filing.Energy Future's original plan triggered lawsuits by creditors, demands that it slow down the process and attracted the interest of possible buyers such as NextEra Energy Inc . Sontchi expressed skepticism about the company's approach to its restructuring plan on July 1.

NextEra Energy, Inc. (NEE) is an electric power company. Shares of NEE traded higher by 0.11% or $0.11/share to $98.60. In the past year, the shares have traded as low as $78.81 and as high as $102.51. On average, 2157120 shares of NEE exchange hands on a given day and today's volume is recorded at 459354.



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Asset manager Legg Mason to purchase UK's Martin Currie, (NYSE: LM)

Asset manager Legg Mason Inc said it would purchase UK-based international equity specialist firm Martin Currie, continuing an effort to revamp its business.Under Joseph Sullivan, who became CEO in February 2013, Legg Mason has sold several businesses, created new products and bought other small investment firms as it tries to move beyond a long period of net quarterly withdrawals by customers.Headquartered in Edinburgh, Scotland, Martin Currie is a good fit as investors put more money into international stocks, Sullivan said in an interview. "You have to have a global investment capability that reflects that demand," he said.Sullivan said he will keep looking for deals, for instance one that would allow Legg Mason to sell alternative investment products in areas including energy or infrastructure. But finding such an acquisition could take some time, he said.

Legg Mason, Inc. (Legg Mason) is a global asset management company. Shares of LM traded higher by 2.27% or $1.15/share to $51.79. In the past year, the shares have traded as low as $32.11 and as high as $52.00. On average, 797211 shares of LM exchange hands on a given day and today's volume is recorded at 281104.



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RPT-American Air sets first dividend since 1980 as profit rises, (NASDAQ: AAL)

American Airlines Group said Thursday it will pay its first dividend since 1980 and purchase back stock as it reported improved second-quarter earnings.American, the largest airline by traffic, which was formed from the late 2013 merger of US Airways and AMR Corp, declared a dividend of 10 cents a share for shareholders of record Aug. 4. It also planned a $1 billion share repurchase program and said it would make additional pension contributions.The carrier reported net income rose to $864 million, or $1.17 a diluted share, from $220 million, or 79 cents a share, a year earlier, when the company was not merged.On a combined basis, American said net profit excluding charges was $1.5 billion, compared with $681 million for the year-earlier period.

Anglo American plc (Anglo American) is a mining company. Shares of AAL traded higher by 0.38% or $0.165/share to $43.50. In the past year, the shares have traded as low as $15.28 and as high as $44.88. On average, 12279700 shares of AAL exchange hands on a given day and today's volume is recorded at 8655704.



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Liberty Global offers to sell pay TV channel for Ziggo deal - source, (NASDAQ: LBTYA), (NASDAQ: NFLX)

U.S. cable group Liberty Global has offered to sell its pay TV channel Film1 in an attempt to win EU antitrust approval for its proposed acquisition of Dutch rival Ziggo, a person familiar with the matter said on Thursday.Liberty Global, controlled by billionaire John Malone, also promised not to block either contractually or technically so-called over-the-top TV service providers from accessing its Internet network for four years, the source said.Over-the-top companies such as Netflix Inc, which deliver programming over the Internet, are gaining in popularity at the expense of live TV viewing.Rivals and other third parties were told to provide feedback on Liberty Global's offer by early this week, the person said.

Shares of LBTYA fell by 0.35% or $-0.15/share to $42.70. In the past year, the shares have traded as low as $37.81 and as high as $46.46. On average, 3698380 shares of LBTYA exchange hands on a given day and today's volume is recorded at 540337.

Netflix, Inc. is an Internet television network with more than 44 million members in over 40 countries. Shares of NFLX fell by 1.52% or $-6.49/share to $421.41. In the past year, the shares have traded as low as $239.91 and as high as $475.87. On average, 3136880 shares of NFLX exchange hands on a given day and today's volume is recorded at 1333025.



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