Yep, Reports hitting:~~~~As many as possible in one post!
JPM cuts Blackberry usage,
The bank hopes to save tens of millions by eliminating support for BlackBerry next year, and forcing some employees to pay for their own devices, whether they're BlackBerry or others, according to the WSJ.
This move is part of a broader one by banks to shave costs in an era of sluggish revenue. For example: When JPMorgan (NYSE:JPM) reports its Q3 after the close today, EPS is expected to edge higher even as revenue is anticipated to have fallen 2%.
The BlackBerry action may not seem like much, but taken with other moves like cutting down on 5-star hotel stays for traveling workers, sharing of desks, and a host of others, the bank will save hundreds of millions of dollars per year.
JNJ<>eps 3q 1.49 est 1.45
Johnson & Johnson beats by $0.04, misses on revenue
Johnson & Johnson (NYSE:JNJ): Q3 EPS of $1.49 beats by $0.04.
Revenue of $17.1B (-7.4% Y/Y) misses by $350M.
Press Release
Aoxing Pharmaceutical reports FY15 results
Aoxing Pharmaceutical (AXN -6.6%) FY15 results: Revenues: $25.5M (+100.8%); COGS: $5.7M (-17.4%); R&D Expense: $0.3M (-50.0%); SG&A: $10.2M (+27.5%); Operating Income: $8.7M (+363.6%); Net Income: $5.5M (+167.1%); EPS: $0.09 (+156.3%); Quick Assets: $5.4M (+134.8%).
No guidance given.
AST Asterias Bio inks deal with UK-based cell therapy firm to scale up manufacturing of AST-VAC2
Asterias Biotherapeutics (NYSEMKT:AST) signs an agreement with UK-based Cell Therapy Catapult to advance development of large scale manufacturing processes for Asterias' allogeneic dendritic cell immunotherapy, AST-VAC2. Specifically, Catapult will streamline and scale manufacturing processes for AST-VAC2 to support clinical trials and eventual commercialization. Financial terms of the deal are not disclosed.
AST-VAC2 is an immunotherapy that contains dendritic cells derived from pluripotent stem cells. It is engineered to express telomerase, a protein widely expressed in tumor cells. The AST-VAC2 dendritic cells are designed to prompt the immune system to generate responses against telomerase which kills the cancer cells.
Fastenal (NASDAQ:FAST): Q3 EPS of $0.47 in-line.
Revenue of $995.25M (+1.5% Y/Y) misses by $14.75M.
Adaptimmune (ADAP -5.2%) FY15 results (£): Revenues: 6.8M (+999%); R&D Expense: 14.7M (+98.6%); SG&A: 7.2M (+350.0%); Operating Loss: (14.7M) (-75.0%); Net Loss: (13.7M) (-82.7%); Loss Per Share: (0.04) (+20.0%); Quick Assets: 145.7M (+384.1%).
1H16 Guidance: Cash burn: $20M - 30M.
FY16 Guidance: Cash burn: $80M - 100M.
Del Frisco's Restaurant (NASDAQ:DFRG) reports comparable restaurant sales rose 1.2% at Sullivan's Steakhouse in Q3.
Comparable restaurant sales decreased 3.5% at Del Frisco's Grille and 1.4% at Del Frisco's Double Eagle Steak House.
Del Frisco's Double Eagle Steak House revenue increased 7.3% to $33.06M.
Sullivan's Steakhouse revenues slipped 2.6% to $15.65M.
Del Frisco's Grille revenues grew 32.1% to $19.92M.
Restaurant-level EBITDA as a percentage of sales dropped 100 bps to 18%.
G&A expense rate +10 bps to 7.6%.
FY2015 Guidance: Revenues: +9% to +11%; Comparable restaurant sales: -1% to 0.5%; Cost of sales: 28.8% to 29.5% of revenues; Restaurant-level EBITDA margin: 21.6% to 22.2%; G&A: ~$23.8M to $24.3M; Tax rate: ~30% to 32%; Capex: $40M to $45M; Adjusted EPS: $0.80 to $0.83.
Shares of Molson Coors (NYSE:TAP) are flying in early trading after Anheuser-Busch InBev and SABMiller agree to merge.
The company is expected to buy out JV partner SABMiller's interest in MillerCoors.
TAP +9.17% premarket to $85.80 to mark an all-time high for the beer stock.
A Fluor (NYSE:FLR) JV (FDH) has been selected by Kuwait National Petroleum Company as the preferred bidder for two engineering, procurement and construction packages.
Facilities will include a variety of key process units, utilities and infrastructure for the new Al-Zour oil refinery project in Kuwait, which is expected to produce 615K bpd.
Fluor booked its $2.6B portion of the contract in Q3 of 2015.
Wedbush initiates coverage on Smith & Wesson (NASDAQ:SWHC) with an Outperform rating.
The investment firm has a price target of $22 on the gun stock vs. the 52-week trading range on S&W of $9.12 to $19.22.
SWHC +0.22% premarket to $18.47.
CME Group (NASDAQ:CME) launches a physically delivered lead futures contract with delivery locations in the U.S. and Europe. The new contract will begin trading on Nov. 23, assuming all necessary regulatory approvals.
The exchange operator launched Zinc and Aluminum futures earlier this year.
GSK<>GlaxoSmithKline was upgraded to neutral from underweight at J.P. Morgan Cazenove on Tuesday, which cited some optimism over the the drug maker's pipeline, now that the bearish thesis has already been played out.
VSAT< ViaSat downgraded to market perform from outperform at Wells Fargo
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