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Just looked at my account...all I have to say is...
WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!!!!!
Clear Channel Outdoor Holdings, Inc. Reports Results For 2019 Third Quarter
6:00 AM ET 11/6/19 | PR Newswire
SAN ANTONIO, Nov. 6, 2019 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) ("the Company") today reported financial results for the quarter ended September 30, 2019.
"In our first full quarter as an independent company, we continue to successfully execute on our strategic plan. Our largest business segment delivered strong growth, and we strengthened our capital structure and cash flow generation," said William Eccleshare, Worldwide Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. "Specifically, our Americas revenue grew more than 8% year-over-year in the third quarter, including double-digit growth in digital revenue. We continue to benefit from our technological transformation, most particularly the development of our proprietary CCO RADAR tools, and the positive audience trends for the outdoor medium.
"Globally, we are raising the bar in our industry by demonstrating the power and influence of our medium. We recently announced the first airport in the U.S. showcasing all-digital advertising displays in San Jose, California. In the U.K., our Adshel Live network now reaches approximately 38% of the population weekly and is the country's largest individual digital out-of-home network.
"We remain on track to achieve the financial guidance and outlook we provided in August. As a result of our recent capital market activities, Clear Channel Outdoor is benefiting from an improved balance sheet and reduced cash interest payments. We are investing our available free cash flow in attractive new assets that we see generating significant returns on capital for our business. This investment represents a majority of our capital expenditure guidance for 2019. We are optimistic and believe that our strengthened financial position, combined with expected growth in free cash flow, will provide us with greater flexibility to reduce leverage and drive shareholder value."
Key Financial Highlights
The Company's key financial highlights for the third quarter of 2019, as compared to the same period of 2018, include:
-- Consolidated revenue decreased 1.6%. After adjusting for the impact from
movements in foreign exchange rates, consolidated revenue increased 0.6%.
-- Americas revenue increased $24.8 million, or 8.2%.
-- International revenue decreased $35.1 million, or 9.7%. After adjusting
for a $14.4 million impact from movements in foreign exchange rates,
International revenue decreased $20.7 million, or 5.8%.
-- Operating income decreased $3.5 million to $47.7 million.
-- OIBDAN decreased 5.8%. Excluding the impact from movements in foreign
exchange rates, OIBDAN decreased 5.3%.
Additionally, during the third quarter of 2019:
-- The Company issued 100 million shares of common stock in a public
offering and used the net proceeds to redeem approximately $333.5 million
aggregate principal amount of 9.25% Senior Subordinated Notes due 2024
(which ceased to be subordinated indebtedness following the refinancing
transactions as described below) (the "New CCWH Senior Notes").
-- The Company refinanced its outstanding $2,725.0 million aggregate
principal amount of 6.5% Series A and Series B Senior Notes due 2022 (the
"CCWH Senior Notes") and $375.0 million aggregate principal amount of
8.75% Senior Notes due 2020 (the "CCIBV Senior Notes") with the issuance
of $1,250.0 million aggregate principal amount of new 5.125% Senior
Secured Notes due 2027 (the "New CCOH Senior Secured Notes") and a
$2,000.0 million seven-year term loan facility (the "New Term Loan
Facility").
-- The Company entered into a $175.0 million revolving credit facility (the
"New Revolving Credit Facility") and replaced its existing
receivables-based credit facility with a new $125.0 million
receivables-based credit facility (the "New Receivables-Based Credit
Facility").
Refer to the "Liquidity and Financial Position" section of this press release for more details.
Key Non-Financial Highlights
The Company's key third quarter non-financial highlights include:
Americas:
-- Adding 18 new digital billboards in the United States, for a total of
more than 1,600 digital displays, including more than 1,300 digital
billboards, in our Americas business as of September 30, 2019.
-- Transforming the San Jose International Airport into the first
all-digital and most advanced airport advertising and sponsorship program
in the U.S., integrated with CCO RADAR, our suite of audience planning,
amplification and measurement solutions.
-- Completing the transformation and launch of over 1,300 new visually
striking, printed out-of-home displays across the small, mid and large
U.S. market footprint. Premiere panels bring nearly bulletin-sized media
down-to-earth for even greater pedestrian and road travel visibility.
These newly repositioned, vinyl-wrapped posters are available in
highly-trafficked urban, upscale and nightlife areas and are fully
supported by our RADAR suite of products.
-- Partnering with a major movie studio to develop a unique campaign for a
blockbuster movie. The campaign expands the footprint of print displays
beyond the key Los Angeles and New York markets with 161 bulletins in 16
markets benefiting from the creative flexibility and impact that
out-of-home can deliver.
-- Continuing to build out our real-time digital capabilities, including the
first weather-triggered programmatic ad campaign in Times Square,
airports and across our roadside inventory. This enables advertisers to
reach consumers with relevant products in an audience-centric and
contextually-relevant way depending on weather conditions.
-- Launching a new capability through our RADAR platform which advances our
ability to measure and attribute mobile app download activity and
consumer actions relative to our ad campaigns.
International:
-- Adding 1,004 new digital displays in our International markets, for a
total of more than 15,000 digital displays in our International business
at September 30, 2019.
-- Close to completing the roll-out of more than 1,600 street furniture
units in Paris, with advertising campaigns for Éric Bompard, Chanel,
Netflix, Uber, Coca-Cola and Calvin Klein in place for the fourth
quarter.
-- Winning a six-year contract for the subway in Toulouse, one of France's
largest metropolitan areas, which will increase the number of digital
screens from 30 to 95 and reduce print screens from 415 to 332.
-- Renewing the Helsinki Airport contract for another 8.5 years with plans
to upgrade the airport's existing inventory and increase the digital
out-of-home presence significantly, with the ambition to have digital
represent 85% of total displays within the duration of the contract.
-- Installing the 2,000th Adshel Live digital screen in the U.K., which
firmly cements the position of Clear Channel's Adshel Live network as the
country's largest individual digital out-of-home network, reaching
approximately 38% of the population weekly.
-- Continuing our digital expansion efforts to reach 1,000 digital screens
across Sweden's biggest cities of Stockholm, Malmö, Gothenburg and
Solna. Clear Channel Sweden is the only out-of-home provider to offer
advertisers digital street furniture solutions in the cities of Stockholm,
Malmö and Gothenburg.
-- Receiving the "Best Poster Provider" award at the Swiss media industry
awards, which was voted on by the country's 750 top advertisers, media
agencies and creatives.
Guidance and Outlook
-- The Company anticipates revenue and OIBDAN growth in the Americas to be
in the mid-to-high single digits for the second half of 2019.
-- Internationally, excluding China and any foreign currency impact, the
Company expects low single digit growth in both revenue and OIBDAN for
the second half of 2019.
-- The Company is unable to discuss the expected performance of Clear Media
Limited, its consolidated Chinese investment, because Clear Media Limited
is a publicly traded company listed on the Hong Kong Stock Exchange.
-- The Company expects its consolidated capital expenditures to be in the
$225 million to $235 million range for the full year of 2019.
-- The Company intends to provide full-year guidance for 2020 in its
earnings release for the fourth quarter of 2019.
GAAP Measures by Segment
Three Months Ended % Nine Months Ended %
(In thousands) September 30, Change September 30, Change
2019 2018 2019 2018
Revenue:
Americas $328,250 $303,421 8.2 % $928,114 $859,190 8.0 %
International 325,197 360,318 (9.7) % 1,010,464 1,114,927 (9.4) %
Consolidated
Revenue $653,447 $663,739 (1.6) % $1,938,578 $1,974,117 (1.8) %
Direct operating and SG&A expenses(1) :
Americas $192,465 $180,488 6.6 % $566,076 $532,448 6.3 %
International 294,853 309,990 (4.9) % 889,785 944,952 (5.8) %
Consolidated
Direct
operating and
SG&A
expenses(2) $487,318 $490,478 (0.6) % $1,455,861 $1,477,400 (1.5) %
Operating
income
(loss)(2) :
Americas $98,132 $83,150 18.0 % $240,331 $199,332 20.6 %
International (4,029) 13,701 (129.4)% 17,913 56,100 (68.1)%
Corporate (41,735) (38,724) (7.8) % (112,059) (114,039) 1.7 %
Impairment
charges (5,300) (7,772) 31.8 % (5,300) (7,772) 31.8 %
Other operating
income
(expense),
(MORE TO FOLLOW) Dow Jones Newswires
November 06, 2019 06:00 ET (11:00 GMT)
$TTNP - Titan Pharmaceuticals Shares Down 52% on Public Offering TTNP
11:00 AM ET 10/16/19 | Dow Jones
By Chris Wack
Shares of Titan Pharmaceuticals Inc. (TTNP) dropped 52%, to 18 cents, after the company said a public offering priced Wednesday.
The commercial-stage therapeutics company said an underwritten public offering of 40 million units priced to the public at 22.5 cents a unit.
Titan said each unit issued in the offering consists of one share of common stock and one Class B Warrant to purchase one share of common stock.
The company said gross proceeds are expected to be $9 million.
The Class B Warrants will be immediately exercisable at a price of 22.5 a share of common stock and will expire five years from the date of issuance.
The offering is expected to close on or about Oct. 18.
Write to Chris Wack at chris.wack@wsj.com
> Dow Jones Newswires
October 16, 2019 11:00 ET (15:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Titan Pharmaceuticals Announces Pricing Of $9.0 Million Underwritten Public Offering
9:20 AM ET 10/16/19 | Dow Jones
SOUTH SAN FRANCISCO, Calif., Oct. 16, 2019 /PRNewswire/ -- Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) today announced the pricing of an underwritten public offering of 40,000,000 units at a price to the public of $0.225 per unit. Each unit issued in the offering consists of one share of common stock (or pre-funded warrant in lieu thereof) and one Class B Warrant to purchase one share of common stock. Gross proceeds, before underwriting discounts and commissions and estimated offering expenses, are expected to be $9.0 million.
The Class B Warrants will be immediately exercisable at a price of $0.225 per share of common stock and will expire five years from the date of issuance. The shares of common stock (or pre-funded warrants) and the accompanying warrants are immediately separable from the units and, can only be purchased together in the offering. The offering is expected to close on or about October 18, 2019, subject to customary closing conditions.
Maxim Group LLC is acting as the sole book-running manager for the offering.
Titan has granted the underwriters a 45-day option to purchase up to an additional 6,000,000 shares of common stock and/or Class B warrants to purchase up to 6,000,000 shares of common stock, at the public offering price less discounts and commissions.
The Securities and Exchange Commission (the "SEC") declared effective a registration statement on Form S-1 (File No. 333-233722) relating to these securities on October 16, 2019. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov. The offering is being made only by means of a prospectus forming part of the effective registration statement. Electronic copies of the prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at (212) 895-3745.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Titan Pharmaceuticals
Titan Pharmaceuticals, Inc. (NASDAQ:TTNP), based in South San Francisco, CA, is a commercial stage company developing proprietary therapeutics with its ProNeura(TM) long-term, continuous drug delivery technology. The company's lead product is Probuphine(R) (buprenorphine) implant, a novel and long-acting formulation of buprenorphine for the long-term maintenance treatment of opioid dependence. Approved by the U.S. Food and Drug Administration in May 2016, Probuphine is the first and only commercialized treatment of opioid dependence to provide continuous, around-the-clock blood levels of buprenorphine for six months following a single procedure. The ProNeura technology also has the potential to be used in developing products for treating other chronic conditions such as Parkinson's disease and hypothyroidism, where maintaining consistent, around-the-clock blood levels of medication may benefit the patient and improve medical outcomes. For more information about Titan, please visit www.titanpharm.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our product development programs and any other statements that are not historical facts. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations include those risks and uncertainties relating to the commercialization of Probuphine, the regulatory approval process, the development, testing, production and marketing of our drug candidates, patent and intellectual property matters and strategic agreements and relationships. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
CONTACTS:
Sunil Bhonsle,
President & CEO
(650) 244-4990
Stephen Kilmer
Investor Relations
(650) 989-2215
skilmer@titanpharm.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/titan-pharmaceuticals-announces-pricing-of-9-0-million-underwritten-public-offering-300939591.html
SOURCE Titan Pharmaceuticals, Inc.
/Web site: http://www.titanpharm.com
> Dow Jones Newswires
October 16, 2019 09:20 ET (13:20 GMT)
La Jolla Pharmaceutical Company Announces Positive Top-Line Results from ATHOS-3 Phase 3 Study of LJPC-501
-- Trend toward longer survival observed
-- New Drug Application planned for second half of 2017
-- Company to host conference call and webcast at 8:30 a.m. EST on Monday, Feb. 27, 2017
La Jolla Pharmaceutical Company (Nasdaq: LJPC) (La Jolla), today announced positive top-line results from the ATHOS-3 (Angiotensin II for the Treatment of High-Output Shock) Phase 3 study of LJPC-501 (angiotensin II) in patients with catecholamine resistant hypotension (CRH).
The analysis of the primary efficacy endpoint, defined as the percentage of patients achieving a pre-specified target blood pressure response, was highly statistically significant: 23% of the 158 placebo-treated patients had a blood pressure response compared to 70% of the 163 LJPC-501-treated patients (p<0.00001). In addition, a trend toward longer survival was observed: 22% reduction in mortality risk through day 28 [hazard ratio=0.78 (0.57-1.07), p=0.12] for LJPC-501-treated patients.
Throughout the study, safety outcomes were followed by an independent Data Safety Monitoring Board (DSMB). The DSMB recommended that the study continue as originally planned. In this critically ill patient population: 92% of placebo-treated patients compared to 87% of LJPC-501-treated patients experienced at least one adverse event, and 22% of placebo-treated patients compared to 14% of LJPC-501-treated patients discontinued treatment due to an adverse event. In collaboration with the investigators, La Jolla plans to present and publish detailed results from the ATHOS-3 study later this year.
ATHOS-3 was conducted under a Special Protocol Assessment with the U.S. Food and Drug Administration (FDA), in which the company and FDA agreed on the study design, study endpoints and study analyses.
"These study results support that angiotensin II, a molecule first synthesized by Dr. Irvine Page at the Cleveland Clinic, improves outcomes in distributive shock patients requiring high-dose catecholamines. Given the high mortality from this condition, it is important to offer physicians another potential treatment option," said Daniel Sessler, M.D., the Michael Cudahy Professor and Chair of the Department of Outcomes Research at Cleveland Clinic.
"We are grateful to the patients, their families and the dedicated medical teams who contributed to this successful study," said George F. Tidmarsh, M.D., Ph.D., president and chief executive officer of La Jolla. "We also are very appreciative of the FDA's advice and contributions in the development of LJPC-501 and look forward to meeting with the FDA to discuss our NDA submission planned for the second half of this year."
Conference Call at 8:30 a.m. EST on Monday, February 27, 2017
La Jolla will host a conference call and webcast at 8:30 a.m. EST (5:30 a.m. PST) on Monday, February 27, 2017. The conference call can be accessed by dialing 877-359-9508 for domestic callers and 224-357-2393 for international callers. Please provide the operator with the passcode 78311826 to join the conference call or click here for the webcast. A slide presentation accompanying today's press release and the conference call may also be found on La Jolla's website at www.ljpc.com under the investor relations section. An archive of the conference call and webcast will be available on La Jolla's website for 30 days following the call.
About the ATHOS-3 Study
The ATHOS-3 study (https://www.ncbi.nlm.nih.gov/pubmed/28215131) was a multicenter, randomized, double-blind, placebo-controlled, Phase 3 clinical study of LJPC-501 in patients with catecholamine resistant hypotension. A total of 344 patients were randomized across nine countries, 321 of whom received study treatment and are included in the primary analysis. Patients were randomized 1:1 to receive either LJPC-501 or placebo on a background of standard-of-care vasopressors selected by the investigators. Randomized patients received their assigned treatment via continuous intravenous infusion.
The primary efficacy endpoint was the percentage of patients with a mean arterial pressure (MAP) greater-than or equal to 75 mmHg or a 10 mmHg increase from baseline MAP at 3 hours following the initiation of study treatment without an increase in standard-of-care vasopressors. The study was conducted under a Special Protocol Assessment (SPA) agreed to with the U.S. Food and Drug Administration (FDA) in 2015. The SPA stipulates that a study of this size and design could provide sufficient safety and efficacy signals and an adequate evaluation of the risk/benefit to the patients to support FDA review and consideration for marketing approval.
About LJPC-501
LJPC-501 is La Jolla's proprietary formulation of synthetic human angiotensin II. Angiotensin II, the major bioactive component of the renin-angiotensin system, serves as one of the body's central regulators of blood pressure. LJPC-501 is being developed for the treatment of patients with catecholamine resistant hypotension (CRH). LJPC-501 is the first synthetic human angiotensin II product candidate to be tested in a Phase 3 study.
About Catecholamine Resistant Hypotension
Catecholamine resistant hypotension (CRH) is a life-threatening syndrome in patients with distributive shock (dangerously low blood pressure with adequate cardiac function) who cannot achieve target mean arterial pressure (MAP) despite adequate fluid resuscitation and treatment with currently available vasopressors (catecholamines and/or vasopressin). There are approximately 500,000 distributive shock cases in the United States per year, an estimated 200,000 of which develop CRH. More than 50% of CRH patients die within 30 days.
About La Jolla Pharmaceutical Company
La Jolla Pharmaceutical Company is a biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies intended to significantly improve outcomes in patients suffering from life-threatening diseases. The company has several product candidates in development. LJPC-501 is La Jolla's proprietary formulation of synthetic human angiotensin II for the potential treatment of catecholamine resistant hypotension. LJPC-401 is La Jolla's proprietary formulation of synthetic human hepcidin for the potential treatment of conditions characterized by iron overload, such as hereditary hemochromatosis, beta thalassemia, sickle cell disease and myelodysplastic syndrome. LJPC-30S is La Jolla's next-generation gentamicin derivative program that is focused on the potential treatment of serious bacterial infections as well as rare genetic disorders, such as cystic fibrosis and Duchenne muscular dystrophy. For more information on La Jolla, please visit www.ljpc.com.
Forward Looking Statement Safe Harbor
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to future events or the company's future results of operations. These statements are only predictions or statements of current expectations and involve known and unknown risks, uncertainties and other factors, that may cause actual results to be materially different from those anticipated by the forward-looking statements. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Certain of these risks, uncertainties, and other factors are described in greater detail in the company's filings with the U.S. Securities and Exchange Commission (SEC), all of which are available free of charge on the SEC's web site www.sec.gov. These risks include, but are not limited to, risks relating to: the timing of the NDA submission for LJPC-501 and prospects for approval of the NDA; risks that the full data set from the ATHOS-3 study will not be consistent with the top-line results of the study; risks relating to the scope of product labels (if approved) and potential market sizes, as well as the broader commercial opportunity; the anticipated timing for regulatory actions; the success of future development activities; potential indications for which the company's product candidates may be developed; and the expected duration over which the company's cash balances will fund its operations. Subsequent written and oral forward-looking statements attributable to the company or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements set forth in the company's reports filed with the SEC. The company expressly disclaims any intent to update any forward-looking statements.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20170227005464r1&sid=cmtx6&distro=nx&lang=en
View source version on businesswire.com: http://www.businesswire.com/news/home/20170227005464/en/
SOURCE: La Jolla Pharmaceutical Company
View data
Company Contacts La Jolla Pharmaceutical Company Sandra Vedrick Associate Director, Investor Relations & Human Resources 858-256-7910 svedrick@ljpc.com or Dennis M. Mulroy Chief Financial Officer 858-433-6839 dmulroy@ljpc.com or Media Contact LifeSci Public Relations Matt Middleman, M.D. 646-627-8384 matt.middleman@lifescipublicrelations.com
Starting a new business and I never realized how much time trading took from regular life.
Fantastic trade!
Thanks! I've also been away focusing on a few work related things but glad to see your back and thanks for the honor
SeaWorld CEO: We're ending our orca breeding program. Here's why.
http://www.latimes.com/opinion/op-ed/la-oe-0317-manby-sea-world-orca-breeding-20160317-story.html
Got NFLX $88p weeklys for $0.50
Yea this is one of those charts you look at and say...where the F@ck was I on this in '08?
IMAX green on day of earnings
Sold it for Limit $22 as I typed you
The force has been strong with WYNN but I still think I'm right about that sumbich going down with the SPX
The only thing working for me right now is the $1240 PCLN put I bought yesterday at $7.50 other than than I'm trying to get my money back from TSLA and WYNN
Proof there is no logic to this market madness
Who's selling the market these steroids?!?!
Don't some of these things already exist when you install an app as "permissions?"
GrowLife, Inc. (OTCBB: PHOT), one of the nation’s most recognized cultivation service providers, today announced that its common stock has resumed quotation on the OTC Bulletin Board after receiving clearance from the Financial Industry Regulatory Authority (“FINRA”) on its Form 15c2-11.
“GrowLife was notified yesterday that FINRA approved a market maker who filed a 15c2-11 in August 2014,” stated Marco Hegyi, President of GrowLife. “We are pleased to clear this important hurdle of restoring trading in GrowLife on the OTCBB. Re-listing on the OTCBB will allow us to enhance liquidity in the stock and attract additional market makers and institutional investors. We plan to expeditiously apply for uplisting on the OTCQB to further these goals.”
Mr. Hegyi continued, “I am grateful to our shareholders, investors and partners who have stood by us during this challenging time. We will continue to work towards increasing shareholder value, and will now get back to strengthening the indoor growing industry.”
For more information about GrowLife, please visit: www.growlifeinc.com. Additional commentary on the Company as well as the industry is also provided on Mr. Hegyi’s blog.
What I saw is that the SPX and WYNN charts have been pretty much a carbon copy of the other over the past five or so sessions...aside from yesterday a little bit...I'm hoping for a market retrace and WYNN to go right along with it along with TSLA.
Just need somebody with the right amount of gas to fart and set this market off again in a downward right trajectory.
Yes, yes, and yes lol
Added to my WYNN Feb 26 '16 $75 Puts @ $1.85
Started new position WYNN Feb 26 '16 $72 Puts @ $0.85
In TSLA Feb 26 '16 $150p @ $0.95
Took this off the table for now...
BTO GE Feb 26 '16 $28.50 Puts @ $0.30
$SAM - Boston Beer Slumps As Competition Heats Up -- Market Talk
5:12 PM ET 2/18/16 | Dow Jones
17:10 ET - Boston Beer (SAM) fell 2.5% to $179.85 in after hours trading after reporting profit declined 16% in the 4Q to $16.1M as shipments declined despite increases in advertising. Sales fell 1% to $215.1M. More troubling than the 4Q results was the projection that shipments-to-retailers this year would be increase in the low-single digits, down from the projected 8%-12% increase in shipments to retailers projected this time a year ago for the 2015 year. "We believe we've lost share as new craft brewers enter the market and more regional craft brewers are expanding their distribution," said Boston Beer Chairman Jim Koch. (tripp.mickle@wsj.com)
> Dow Jones Newswires
February 18, 2016 17:12 ET (22:12 GMT)
$SAM - Boston Beer Slumps As Competition Heats Up -- Market Talk
5:12 PM ET 2/18/16 | Dow Jones
17:10 ET - Boston Beer (SAM) fell 2.5% to $179.85 in after hours trading after reporting profit declined 16% in the 4Q to $16.1M as shipments declined despite increases in advertising. Sales fell 1% to $215.1M. More troubling than the 4Q results was the projection that shipments-to-retailers this year would be increase in the low-single digits, down from the projected 8%-12% increase in shipments to retailers projected this time a year ago for the 2015 year. "We believe we've lost share as new craft brewers enter the market and more regional craft brewers are expanding their distribution," said Boston Beer Chairman Jim Koch. (tripp.mickle@wsj.com)
> Dow Jones Newswires
February 18, 2016 17:12 ET (22:12 GMT)
$SAM - Boston Beer Co beats by $0.07, misses on revs; guides FY16 EPS below consensus
4:19 PM ET 2/18/16 | Briefing.com
Reports Q4 (Dec) earnings of $1.21 per share, $0.07 better than the Capital IQ Consensus of $1.14; revenues fell 1.2% year/year to $215.1 mln vs the $223.81 mln Capital IQ Consensus, mainly due to a decline in core shipments of 3%, partially offset by price increases. Depletions decreased 3% from the comparable 13-week period in 2014.Co issues downside guidance for FY16, sees EPS of $7.60-8.00 vs. $8.08 Capital IQ Consensus Estimate. Depletions and shipments percentage growth of mid-single digits. National price increases of between 1% and 2%. Gross margin of between 52% and 54%. Increased investment in advertising, promotional and selling expenses of between $10 million and $20 million.
Boston Beer Co beats by $0.07, misses on revs; guides FY16 EPS below consensus
4:19 PM ET 2/18/16 | Briefing.com
Reports Q4 (Dec) earnings of $1.21 per share, $0.07 better than the Capital IQ Consensus of $1.14; revenues fell 1.2% year/year to $215.1 mln vs the $223.81 mln Capital IQ Consensus, mainly due to a decline in core shipments of 3%, partially offset by price increases. Depletions decreased 3% from the comparable 13-week period in 2014.Co issues downside guidance for FY16, sees EPS of $7.60-8.00 vs. $8.08 Capital IQ Consensus Estimate. Depletions and shipments percentage growth of mid-single digits. National price increases of between 1% and 2%. Gross margin of between 52% and 54%. Increased investment in advertising, promotional and selling expenses of between $10 million and $20 million.
Old article but relevant because SAM reports any minute...
Could Boston Beer Be Sold? CLSA Thinks So -- Market Talk
4:37 PM ET 1/29/16 | Dow Jones
16:37 ET - Boston Beer (SAM) founder Jim Koch has always said the company wouldn't be sold, but CLSA believes his position may be shifting. At Beer Business Daily's Beer Summit this week, CLSA said Koch indicated a big brewer could expand Boston Beer's margins quickly. "We wonder if HEIA, TAP or even STZ were taking notes," CLSA wrote of Heineken, Molson Coors and Constellation Brands. Boston Beer has seen sales growth slow over the past year as it wrestles with an ever-expanding craft world where the number of breweries now tops 4,000. (tripp.mickle@wsj.com)
> Dow Jones Newswires
January 29, 2016 16:37 ET (21:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
I don't know what it is about SAM but I keep playing devil's advocate whenever you mention it. Weren't these upcoming earnings report marked down more than expected? Was next quarter marked down? I didn't have a chance to check. At any rate, I think the prior mark-down is why SAM went down as much as it did in January.
SAM's current PE looks very high, 25.32, like a growth stock. It's growth is in jeopardy by competition from soda beers. If after earnings release its earnings for the next quarter have to be lowered (below the previous year's), then 150 wont even hold IMO. If two sequential quarters are guided down, each below the previous year's earnings, that would mean it's shrinking, not growing.
Not trying to distract you if you're in, just giving my 2 cents.
It's been tracking the SPX pretty closely...expecting it to roll over right along with it whenever that happens...preferably at a more aggressive pace.
I've got until Feb 26th lol
Still in the trade? Or did you get out? I got in...and they don't look the same as much today but I still think you're right about the roll downward
WYNN
Status Filled at $1.80
Symbol -WYNN160226P75
Description PUT (WYNN) WYNN RESORTS LTD FEB 26 16 $75 (100 SHS)
Action Buy to Open Put
Quantity 1 Contracts
Route FDLM
Order Type Limit at $1.80
WYNN
Status Filled at $1.80
Symbol -WYNN160226P75
Description PUT (WYNN) WYNN RESORTS LTD FEB 26 16 $75 (100 SHS)
Action Buy to Open Put
Quantity 1 Contracts
Route FDLM
Order Type Limit at $1.80
Order Number B18CDCLZ
Status Filled at $2.65
Symbol -WYNN160226P75
Description PUT (WYNN) WYNN RESORTS LTD FEB 26 16 $75 (100 SHS)
Action Buy to Open Put
Quantity 2 Contracts
Route FDLM
Order Type Limit at $2.65
Time in Force Day
Order Number B18CDCLZ
Status Filled at $2.65
Symbol -WYNN160226P75
Description PUT (WYNN) WYNN RESORTS LTD FEB 26 16 $75 (100 SHS)
Action Buy to Open Put
Quantity 2 Contracts
Route FDLM
Order Type Limit at $2.65
Time in Force Day
Anyone for LNKD puts? How about WYNN?
Fed minutes were released today
I was looking at next week UPRO puts in the $50-$51 range but passed on them after the minutes were released