Stocks making the biggest moves premarket: Facebook, Amazon, Gilead, Boeing, GE & more

Check out the companies making headlines before the bell:Facebook – Facebook is reportedly close to settling with the Federal Trade Commission by paying a $5 billion fine. ET and Jefferies analysts said the event will see Amazon add more Prime members despite a hike in its annual fee. Gilead Sciences – The drugmaker is investing $5.1 billion to increase its stake in Belgian-Dutch biotech firm Galapagos. Gilead will also expand its partnership with Galapagos, agreeing to develop and commercialize


Check out the companies making headlines before the bell:Facebook – Facebook is reportedly close to settling with the Federal Trade Commission by paying a $5 billion fine. ET and Jefferies analysts said the event will see Amazon add more Prime members despite a hike in its annual fee. Gilead Sciences – The drugmaker is investing $5.1 billion to increase its stake in Belgian-Dutch biotech firm Galapagos. Gilead will also expand its partnership with Galapagos, agreeing to develop and commercialize
Stocks making the biggest moves premarket: Facebook, Amazon, Gilead, Boeing, GE & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, amazon, stocks, biggest, making, neutral, billion, premarket, despite, valuation, buy, downgraded, moves, share, gilead, facebook, boeing, underperform, ge, market, gas


Stocks making the biggest moves premarket: Facebook, Amazon, Gilead, Boeing, GE & more

Check out the companies making headlines before the bell:

Facebook – Facebook is reportedly close to settling with the Federal Trade Commission by paying a $5 billion fine. The Federal Trade Commission has been conducting a probe of Facebook’s privacy practices.

Amazon.com – Amazon.com has kicked off its fifth annual “Prime Day,” which this year is extending to 48 hours. The event began at 3 a.m. ET and Jefferies analysts said the event will see Amazon add more Prime members despite a hike in its annual fee.

Gilead Sciences – The drugmaker is investing $5.1 billion to increase its stake in Belgian-Dutch biotech firm Galapagos. Gilead will also expand its partnership with Galapagos, agreeing to develop and commercialize its drugs over a 10 year period.

Boeing – Boeing’s 737 Max jet could remain grounded into 2020, according to government and industry officials who spoke to The Wall Street Journal. American Airlines extended its cancellations of flights involving the jet into early November, the fourth time it’s done so.

General Electric – The stock was downgraded to “neutral” from “buy” at UBS, which cites valuation, a decline in interest rates, and ongoing power market weakness.

Carrizo Oil & Gas – The oil and gas company will be acquired by Callon Petroleum in an all-stock transaction valued at $3.2 billion, or $13.12 per Carrizo share. That represents a 24% premium to Carrizo’s Friday closing price of $10.50.

Tiffany – Tiffany was downgraded to “neutral” from “buy” at Citi, based on concerns about near-term dynamics despite what Citi sees as good long-term moves by management at the luxury goods retailer.

Crocs – Crocs was upgraded to “overweight” from “neutral” at Piper Jaffray, based on the belief that the shoe maker has been seeing solid traffic.

Molson Coors – Bank of America/Merrill Lynch downgraded the beer brewer to “underperform” from “buy” and cut its price target for the stock to $50 per share from $70. The firm is concerned that Molson Coors will have to increase spending to stabilize market share for core brands and accelerate investments in premium segments.

International Speedway, Speedway Motorsports – Both stocks were both downgraded to “underperform” from “market perform” at Wells Fargo, which points to a lack of upside potential given takeover offers in play for both race car track operators. The report also notes that Nascar’s popularity is “maturing” and that aging infrastructure will require substantial investment.

Slack Technologies – Slack was rated “overweight” in new coverage at Barclays on revenue growth prospects, despite what it calls a “demanding” valuation for the enterprising message system provider.

Sealed Air – Sealed Air was downgraded to “underweight” from “sector weight” at KeyBanc, which points to wake volume trends for the industrial gas maker as well as the degree of balance sheet leverage.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, amazon, stocks, biggest, making, neutral, billion, premarket, despite, valuation, buy, downgraded, moves, share, gilead, facebook, boeing, underperform, ge, market, gas


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China’s soybean demand is ‘surprisingly’ strong despite continued swine fever outbreak

Soybean demand in China appears to be surprisingly robust despite the widespread culling of pigs due to African swine fever. “If China loses about 40% or more of their hogs, we would normally assume soybean demand would be down a large amount as well. Dutch agribusiness lender Rabobank said in a June report that losses in pig herd are “difficult to estimate” and could be anywhere from 20% to 70%. “Even if every pound of pork lost was exactly replaced by one pound of poultry, the overall soybean


Soybean demand in China appears to be surprisingly robust despite the widespread culling of pigs due to African swine fever. “If China loses about 40% or more of their hogs, we would normally assume soybean demand would be down a large amount as well. Dutch agribusiness lender Rabobank said in a June report that losses in pig herd are “difficult to estimate” and could be anywhere from 20% to 70%. “Even if every pound of pork lost was exactly replaced by one pound of poultry, the overall soybean
China’s soybean demand is ‘surprisingly’ strong despite continued swine fever outbreak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: huileng tan
Keywords: news, cnbc, companies, demand, pig, feed, china, food, chinas, friedrichs, surprisingly, hogs, herd, outbreak, despite, strong, fever, swine, continued, soybean, pork


China's soybean demand is 'surprisingly' strong despite continued swine fever outbreak

A hired hand feeds a sow which recently gave birth to a new litter at the Grand Canal Pig Farm in Jiaxing, in China’s Zhejiang province.

Soybean demand in China appears to be surprisingly robust despite the widespread culling of pigs due to African swine fever.

That may be indicating that farmers are switching from food waste to manufactured feed, according to one analyst, which could mean better-than-expected demand will persist.

The Chinese use of soybeans is an important metric for the country’s trade relationships. Since China is the world’s top buyer of the oilseeds, it could give some support to American exports as shipments for the current marketing year may be on pace to top U.S. government forecasts, a recent Reuters analysis showed.

China’s sustained demand for soybeans has been called into question not just by trade war tensions but also by a raging outbreak of African swine fever, which has forced farmers to cull a significant percentage of their pigs.

Nevertheless, China’s need for the feed material seems to be defying expectations.

“The soybean crushing rate and soybean demand is down compared to last year at this time, but is still surprisingly strong given how many hogs China has lost,” said Darin Friedrichs, senior Asia commodity analyst at INTL FCStone.

“If China loses about 40% or more of their hogs, we would normally assume soybean demand would be down a large amount as well. At this point it’s maybe only down 5-10% or so which is surprising,” Friedrichs told CNBC.

However, China-based firms such as Cofeed are estimating year-to-date figures for certain soybean processing fell just 3.6% from a year ago, Friedrichs said.

Analysts have been struggling to assess the severity of the virus on China’s pig herds. Dutch agribusiness lender Rabobank said in a June report that losses in pig herd are “difficult to estimate” and could be anywhere from 20% to 70%.

China, which produces half the world’s pork, said in June its sow herd declined by a record 23.9% in May from a year ago, a slightly deeper drop than for the overall pig herd, Reuters reported. The government’s figures have, according to Rabobank, represented “one of the most optimistic estimates we have seen.”

The decline in pork supply in China has pushed up prices of food in the country and spurred consumers to eat other proteins such as chicken or seafood.

However, alternative meat sources such as poultry or seafood do not consume as much feed as pigs, said Friedrichs.

“Even if every pound of pork lost was exactly replaced by one pound of poultry, the overall soybean demand would be lower,” Friedrichs added in his report.

So, “perhaps this all comes down to the question of how much food waste was being fed to hogs,” Friedrichs said.


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: huileng tan
Keywords: news, cnbc, companies, demand, pig, feed, china, food, chinas, friedrichs, surprisingly, hogs, herd, outbreak, despite, strong, fever, swine, continued, soybean, pork


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Most major analysts are staying negative on Tesla shares despite ‘impressive’ deliveries

Tesla shares surged Wednesday after what Barclays called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings report. The result also beat Wall Street’s expectation of 91,000 deliveries, according to analysts surveyed by FactSet, but met the expectation of a record quarter set by CEO Elon Musk last week. “The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS said in a


Tesla shares surged Wednesday after what Barclays called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings report. The result also beat Wall Street’s expectation of 91,000 deliveries, according to analysts surveyed by FactSet, but met the expectation of a record quarter set by CEO Elon Musk last week. “The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS said in a
Most major analysts are staying negative on Tesla shares despite ‘impressive’ deliveries Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: michael sheetz
Keywords: news, cnbc, companies, upcoming, negative, tesla, investors, despite, major, deliveries, earnings, companys, teslas, q2, staying, record, impressive, analysts, shares, quarter


Most major analysts are staying negative on Tesla shares despite 'impressive' deliveries

Tesla shares surged Wednesday after what Barclays called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings report.

The electric vehicle maker reported delivering 95,200 cars during the second quarter, beating its previous record of 90,700 deliveries, which happened in the fourth quarter of 2018. The result also beat Wall Street’s expectation of 91,000 deliveries, according to analysts surveyed by FactSet, but met the expectation of a record quarter set by CEO Elon Musk last week.

“The Q2 delivery beat does not change our cautious view on Q2 earnings,” UBS said in a note to investors.

Despite the banner result, which sent Tesla’s stock up nearly 5.9% in trading from Tuesday’s close of $224.55 a share, analysts largely left estimates for the company’s 2019 earnings and revenue unchanged. RBC cautioned investors that Tesla did not update or reiterate its 2019 forecast, which the company did in the first quarter of this year.

Goldman Sachs said it continues “to expect some sequential stepdown in demand and ultimately deliveries as we progress into 3Q19,” the firm said.

Even firms with the most optimistic view on Tesla’s future, such as Baird, told investors to focus on the company’s upcoming second-quarter earnings report. Tesla is expected to report earnings Aug. 7.

“We think Q2 earnings will be the next catalyst to restore confidence and reattract investors to the name,” Baird said. “We continue to like the set-up and believe there are several catalysts upcoming which will contribute to a challenging short environment.”

Here’s what every major analyst said about Tesla’s deliveries.


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: michael sheetz
Keywords: news, cnbc, companies, upcoming, negative, tesla, investors, despite, major, deliveries, earnings, companys, teslas, q2, staying, record, impressive, analysts, shares, quarter


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Cramer: Buy pot stock Canopy Growth despite the firing of founder and co-CEO Bruce Linton

CNBC’s Jim Cramer said Wednesday that investors should be buying, not selling, Canopy Growth’s stock following the firing of co-CEO Bruce Linton. Linton told CNBC earlier Wednesday that he was “terminated” from the Canadian pot company that he founded six years ago. “I have no idea why people are selling it,” Cramer said of the world’s largest publicly traded cannabis company by market value. Linton’s ousting comes after November’s $4 billion investment from spirits giant Constellation Brands, w


CNBC’s Jim Cramer said Wednesday that investors should be buying, not selling, Canopy Growth’s stock following the firing of co-CEO Bruce Linton. Linton told CNBC earlier Wednesday that he was “terminated” from the Canadian pot company that he founded six years ago. “I have no idea why people are selling it,” Cramer said of the world’s largest publicly traded cannabis company by market value. Linton’s ousting comes after November’s $4 billion investment from spirits giant Constellation Brands, w
Cramer: Buy pot stock Canopy Growth despite the firing of founder and co-CEO Bruce Linton Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, canopy, founder, cannabis, linton, despite, company, pot, squawk, billion, constellation, cramer, coceo, growth, selling, youve, stock, firing, bruce


Cramer: Buy pot stock Canopy Growth despite the firing of founder and co-CEO Bruce Linton

CNBC’s Jim Cramer said Wednesday that investors should be buying, not selling, Canopy Growth’s stock following the firing of co-CEO Bruce Linton.

Linton told CNBC earlier Wednesday that he was “terminated” from the Canadian pot company that he founded six years ago. Shares of Canopy — up about 50% year to date — were dropping about 4% in early trading.

“I have no idea why people are selling it,” Cramer said of the world’s largest publicly traded cannabis company by market value. “That’s crazy.”

Linton’s ousting comes after November’s $4 billion investment from spirits giant Constellation Brands, which gave Constellation about a 35% stake in the cannabis company. A condition of the deal was a board reconfiguration, Linton said.

“Constellation was very unhappy with Bruce,” Cramer said on “Squawk Box.” “The numbers weren’t there.”

Canopy last month reported a wider-than-expected loss for its fiscal fourth quarter, accounting for a 20-cent drag on Corona maker Constellation’s own earnings.

Linton helped get Canopy to the place it is now, Cramer said. But the new CEO, who has yet to be named, will help lead the company in a new direction.

“Bruce did get $4 billion from Constellation. He was having a great time, and he did raise all of this money,” Cramer said later on “Squawk on the Street. ” “You’ve got to hand it to him.”

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, canopy, founder, cannabis, linton, despite, company, pot, squawk, billion, constellation, cramer, coceo, growth, selling, youve, stock, firing, bruce


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Drivers will pay less for gas this July 4th than last year, despite a recent rise in prices

Gasoline prices could continue to rise into the weekend, as the East Coast market adjusts to the loss of the Philadelphia refinery, which was 27% of the region’s refining capacity. But even with anticipated price increases, the national average price likely peaked in May at $2.89 per gallon, he said. Another factor in the recent rise in gasoline prices was the jump in crude oil in the past several weeks, in part the result of tensions in the Middle East. “The Fourth of July weekend is here, gaso


Gasoline prices could continue to rise into the weekend, as the East Coast market adjusts to the loss of the Philadelphia refinery, which was 27% of the region’s refining capacity. But even with anticipated price increases, the national average price likely peaked in May at $2.89 per gallon, he said. Another factor in the recent rise in gasoline prices was the jump in crude oil in the past several weeks, in part the result of tensions in the Middle East. “The Fourth of July weekend is here, gaso
Drivers will pay less for gas this July 4th than last year, despite a recent rise in prices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: patti domm
Keywords: news, cnbc, companies, 4th, prices, pay, price, recent, gas, raised, drivers, refinery, cents, gallon, despite, average, tax, taxes, gasoline, rise


Drivers will pay less for gas this July 4th than last year, despite a recent rise in prices

Drivers should pay about a dime less per gallon for gasoline over the Fourth of July holiday than last year, even with a major refinery outage and new taxes in about a dozen states.

A record 41.4 million people are expected to travel on the nation’s roadways over the long holiday weekend, an increase of 4% from 2018, according to AAA, and even with the shutdown of the largest East Coast refinery, gasoline should be plentiful.

Since the June 21 blast halted operations at Philadelphia Energy Solutions’ 335,000 barrel refinery, the national average for gasoline has risen by about 7 cents per gallon of unleaded to about $2.73 per gallon. The national average on the holiday weekend last year was $2.85 per gallon.

Gasoline prices could continue to rise into the weekend, as the East Coast market adjusts to the loss of the Philadelphia refinery, which was 27% of the region’s refining capacity. The refinery is scheduled for permanent shutdown, and the shortfall is expected to be made up by shipments from Europe and Canada, and also more gasoline coming via pipeline from the Gulf Coast.

“You might get a nickel or dime higher in some places. People aren’t going to see sticker shock,” said Tom Kloza, head of global energy analysis at the Oil Price Information Service. “Globally, there’s a little too much gasoline.”

In Pennsylvania, the biggest market for PES gasoline, prices have risen by about 9 cents to an average $2.91 per gallon since the explosion and fire at the Philadelphia refinery. Gasoline in the New Jersey suburbs of Philadelphia was up 12 cents from last week, at $2.75 per gallon. But the average price in nearby New York state has risen just 2 cents per gallon to $2.87, according to AAA.

“With the Fourth of July falling on a Thursday, it’s probably the nine days of highest demand we’ll see all year” through July 8, Kloza said. But even with anticipated price increases, the national average price likely peaked in May at $2.89 per gallon, he said.

Besides the outage, the increase in sales taxes in 13 states as of July 1 also impacted the national average price of gas at the pump.

According to OPIS, California raised its tax by 5.6 cents for a total 47.3 cents per gallon, while Ohio boosted its gas tax by 10.5 cents to 38 cents per gallon. Illinois doubled its tax to 38 cents per gallon. Drivers in that state were paying an average $2.99 per gallon on Tuesday, up 11 cents in one day and up 16 cents in the past week, according to AAA.

Until the new taxes went into effect, only California and Nevada had higher prices than last year’s level, according to OPIS. In California, the average price of gasoline was $3.76 per gallon of unleaded on Tuesday, up from $3.66 per gallon a year ago.

Another factor in the recent rise in gasoline prices was the jump in crude oil in the past several weeks, in part the result of tensions in the Middle East. Over the last month, West Texas Intermediate oil has risen about 7.5%.

“Whether or not we have hit a peak price depends on tensions between the U.S. and Iran because events in the Middle Ease can cause oil prices to take a significant jump higher,” said Andrew Lipow, president of Lipow Oil Associates. “The Fourth of July weekend is here, gasoline prices I expect to be more or less stable over the next week. There is supply that is on its way, and the industry has managed to cope with the Philadelphia Energy Solution shutdown.”

According to OPIS, other states that raised taxes this week include Connecticut, up 2.6 cents on gasoline; Tennessee, up 1 cent on gasoline and 3 cents on diesel; and South Carolina, which raised taxes on gasoline and diesel by 2 cents a gallon as part of a larger phased-in increase.

Indiana raised its gas tax by half penny and diesel tax by 1 cent. Maryland raised both gasoline and diesel by 1.4 cents per gallon. Michigan, Montana, Nebraska, Vermont and Rhode Island also raised taxes slightly.


Company: cnbc, Activity: cnbc, Date: 2019-07-02  Authors: patti domm
Keywords: news, cnbc, companies, 4th, prices, pay, price, recent, gas, raised, drivers, refinery, cents, gallon, despite, average, tax, taxes, gasoline, rise


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Adobe rises despite soft guidance

$1.83 per share, excluding certain items, vs. $1.78 per share as expected by analysts, according to Refinitiv. Revenue: $2.74 billion, vs. $2.71 billion as expected by analysts, according to Refinitiv. In the quarter Adobe reported $7.47 billion in annualized recurring revenue for its Digital Media business. In the fiscal second quarter Adobe picked up new business from Amazon, Adobe CEO Shantanu Narayen said on a Tuesday conference call with analysts. Adobe said that for the fiscal third quarte


$1.83 per share, excluding certain items, vs. $1.78 per share as expected by analysts, according to Refinitiv. Revenue: $2.74 billion, vs. $2.71 billion as expected by analysts, according to Refinitiv. In the quarter Adobe reported $7.47 billion in annualized recurring revenue for its Digital Media business. In the fiscal second quarter Adobe picked up new business from Amazon, Adobe CEO Shantanu Narayen said on a Tuesday conference call with analysts. Adobe said that for the fiscal third quarte
Adobe rises despite soft guidance Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: jordan novet
Keywords: news, cnbc, companies, share, billion, rises, million, adobe, soft, quarter, guidance, segment, expected, revenue, despite, analysts, items


Adobe rises despite soft guidance

Adobe shares rose more than 4% after hours on Tuesday after the company announced better-than-expected earnings for the second quarter of its 2019 fiscal year, which ended on May 31, and lighter-than-expected guidance.

Here are the key numbers:

Earnings: $1.83 per share, excluding certain items, vs. $1.78 per share as expected by analysts, according to Refinitiv.

$1.83 per share, excluding certain items, vs. $1.78 per share as expected by analysts, according to Refinitiv. Revenue: $2.74 billion, vs. $2.71 billion as expected by analysts, according to Refinitiv.

Adobe’s revenue grew 25% year over year in the quarter, according to a statement.

Adobe’s largest business segment, Digital Media, which includes the Creative Cloud and Document Cloud products, produced $1.89 billion in revenue, up 22% and above the $1.86 billion consensus estimate among analysts polled by FactSet. The Digital Experience segment, which contains Magento and Marketo, had revenue of $783.5 million, over the FactSet consensus estimate of $777.2 million. The Publishing segment contributed $70.6 million in revenue, above the $66.1 million estimate.

In the quarter Adobe reported $7.47 billion in annualized recurring revenue for its Digital Media business. That’s above the FactSet consensus of $7.44 billion.

“With Digital Media ARR growth coming down from 30%-plus range in the last couple of quarters, investors have begun to question the long-term growth potential of the segment,” Stifel analysts led by Tom Roderick wrote in a note distributed to clients on Sunday. “While the potential for seat conversion still remains internationally, we view existing account penetration and new use-cases as the primary seat and ARR growth drivers in the near-term.”

The analysts suggested that additional price increases could bring about more growth.

In the fiscal second quarter Adobe picked up new business from Amazon, Adobe CEO Shantanu Narayen said on a Tuesday conference call with analysts.

Adobe said that for the fiscal third quarter, it expects $1.95 in earnings per share, excluding certain items, on $2.80 billion in revenue. Analysts polled by Refinitiv had been looking for $2.05 in earnings per share, excluding certain items, and $2.83 billion in revenue for that period.

“FY 2019 is expected to be another record year,” Narayen said. “We expect the first-half momentum to continue in the second half.”

Adobe’s stock is up 22% so far in 2019.

WATCH: Adobe CEO: We’re ‘optimistic’ about our prospects in the wake of tariffs


Company: cnbc, Activity: cnbc, Date: 2019-06-18  Authors: jordan novet
Keywords: news, cnbc, companies, share, billion, rises, million, adobe, soft, quarter, guidance, segment, expected, revenue, despite, analysts, items


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United Technologies CEO predicts Raytheon merger gets done despite activist investor opposition

United Technologies Corp. CEO Greg Hayes believes a “compelling” technology argument in the proposed merger with Raytheon will help to win over concerned shareholders. UTC and Raytheon announced an all-stock merger earlier this month. Hedge fund mogul and activist investor Bill Ackman has said the proposed UTC-Raytheon merger makes “no sense. ” The new company, to be called Raytheon Technologies, would become the second-largest aerospace and defense company in the U.S., after Boeing, with an est


United Technologies Corp. CEO Greg Hayes believes a “compelling” technology argument in the proposed merger with Raytheon will help to win over concerned shareholders. UTC and Raytheon announced an all-stock merger earlier this month. Hedge fund mogul and activist investor Bill Ackman has said the proposed UTC-Raytheon merger makes “no sense. ” The new company, to be called Raytheon Technologies, would become the second-largest aerospace and defense company in the U.S., after Boeing, with an est
United Technologies CEO predicts Raytheon merger gets done despite activist investor opposition Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: sam meredith
Keywords: news, cnbc, companies, ceo, technology, opposition, merger, hayes, think, proposed, gets, investor, shareholders, despite, predicts, united, raytheon, utc, told, technologies


United Technologies CEO predicts Raytheon merger gets done despite activist investor opposition

United Technologies Corp. CEO Greg Hayes believes a “compelling” technology argument in the proposed merger with Raytheon will help to win over concerned shareholders. UTC and Raytheon announced an all-stock merger earlier this month. The deal, which the two companies called a “merger of equals,” would bring together a booming aerospace company with a giant government defense contractor. It is expected to close in the first half of 2020. However, the proposal has raised questions among regulators and shareholders about the economic benefits and costs of large mergers. “If you think about the regulatory landscape, which is the first question in terms of the timing, there is zero overlap,” Hayes told CNBC’s Phil LeBeau at the Paris Air Show on Monday. “From a regulatory standpoint, we think nine months at the outsight to get this done. Ten countries, it does not require Chinese approval, so we think we have got a pretty clear path,” Hayes said.

Hedge fund mogul and activist investor Bill Ackman has said the proposed UTC-Raytheon merger makes “no sense. ” Ackman, whose Pershing Square Capital Management owned 5.8 million UTC shares at the end of the first quarter, said in a letter addressed to Hayes that the merger would be ill-advised. Dan Loeb’s Third Point is also reportedly thought to be opposed to the deal. When asked how he would respond to such criticism, Hayes replied: “We have talked to a lot of investors, including Bill and including Dan, and I would say they have both been respectful as we have laid out the rationale.” “This is simply giving us scale from a technology standpoint to do things that we could not possibly do before, whether it’s advanced analytics, whether it’s AI, autonomy in the cockpit, cyber protection for aerospace systems. … It is phenomenal the opportunities we have.”

Raytheon has been ‘on our radar for a long time’

President Donald Trump told CNBC last week that he was a “little concerned” the proposed deal could harm competition and make it more difficult for the U.S. government to negotiate defense contracts. Raytheon and UTC have since dismissed concerns about a possible reduction in competition, saying they have very little overlap that would generally spark concern among anti-trust regulators. “As far as objections from shareholders, I think, again, the more we talk about technology, the more they see the benefits, the easier this is going to be to convince people,” Hayes said. The new company, to be called Raytheon Technologies, would become the second-largest aerospace and defense company in the U.S., after Boeing, with an estimated $74 billion in sales. Raytheon International CEO John Harris told CNBC on Monday he could not remember a time when the two companies were competing during the past 35 years.

United Technologies Chairman and CEO Greg Hayes. Brendan McDermid | Reuters


Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: sam meredith
Keywords: news, cnbc, companies, ceo, technology, opposition, merger, hayes, think, proposed, gets, investor, shareholders, despite, predicts, united, raytheon, utc, told, technologies


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Beyond Meat is rocking despite negative analyst moves this week, surges 12%

The trade war is taking an enormous bite out of profitsCompanies that derive more than half their sales outside the U.S. are expected to see a 9.3% slump in earnings as the reporting season looms about a month away. Marketsread more


The trade war is taking an enormous bite out of profitsCompanies that derive more than half their sales outside the U.S. are expected to see a 9.3% slump in earnings as the reporting season looms about a month away. Marketsread more
Beyond Meat is rocking despite negative analyst moves this week, surges 12% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, war, week, despite, trade, reporting, sales, analyst, season, 12, outside, month, negative, taking, rocking, slump, profitscompanies, meat, surges, moves


Beyond Meat is rocking despite negative analyst moves this week, surges 12%

The trade war is taking an enormous bite out of profits

Companies that derive more than half their sales outside the U.S. are expected to see a 9.3% slump in earnings as the reporting season looms about a month away.

Markets

read more


Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, war, week, despite, trade, reporting, sales, analyst, season, 12, outside, month, negative, taking, rocking, slump, profitscompanies, meat, surges, moves


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Dow futures slightly higher despite Trump’s warning on China tariffs

U.S. stock index futures were slightly higher Tuesday morning despite comments from President Donald Trump on trade war with China. ET, Dow futures rose 45 points, indicating a positive open of more than 59 points. Futures of S&P and Nasdaq were also seen slightly higher. President Donald Trump told CNBC on Monday that if Chinese President Xi Jinping does not attend the G-20 meeting later this month, there will be additional duties on Chinese goods. This would take effect immediately.


U.S. stock index futures were slightly higher Tuesday morning despite comments from President Donald Trump on trade war with China. ET, Dow futures rose 45 points, indicating a positive open of more than 59 points. Futures of S&P and Nasdaq were also seen slightly higher. President Donald Trump told CNBC on Monday that if Chinese President Xi Jinping does not attend the G-20 meeting later this month, there will be additional duties on Chinese goods. This would take effect immediately.
Dow futures slightly higher despite Trump’s warning on China tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: silvia amaro
Keywords: news, cnbc, companies, futures, donald, trumps, trump, chinese, china, xi, warning, war, higher, points, dow, despite, slightly, president, tariffs, trade


Dow futures slightly higher despite Trump's warning on China tariffs

U.S. stock index futures were slightly higher Tuesday morning despite comments from President Donald Trump on trade war with China.

At around 01:36 a.m. ET, Dow futures rose 45 points, indicating a positive open of more than 59 points. Futures of S&P and Nasdaq were also seen slightly higher.

President Donald Trump told CNBC on Monday that if Chinese President Xi Jinping does not attend the G-20 meeting later this month, there will be additional duties on Chinese goods. This would take effect immediately.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: silvia amaro
Keywords: news, cnbc, companies, futures, donald, trumps, trump, chinese, china, xi, warning, war, higher, points, dow, despite, slightly, president, tariffs, trade


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Hong Kong leader vows to go ahead with contentious China extradition law despite mass protest

Hong Kong’s top official doubled down on a contentious plan to allow extraditions to China on Monday, one day after hundreds of thousands of protesters took to the streets in one of the biggest demonstrations to shake the former British colony in years. Carrie Lam, the territory’s chief executive, ignored calls for her resignation and reiterated the need for the legislation. The rally highlights increasing public anger against the government’s proposal to seek legal changes to allow people in Ho


Hong Kong’s top official doubled down on a contentious plan to allow extraditions to China on Monday, one day after hundreds of thousands of protesters took to the streets in one of the biggest demonstrations to shake the former British colony in years. Carrie Lam, the territory’s chief executive, ignored calls for her resignation and reiterated the need for the legislation. The rally highlights increasing public anger against the government’s proposal to seek legal changes to allow people in Ho
Hong Kong leader vows to go ahead with contentious China extradition law despite mass protest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: kelly olsen
Keywords: news, cnbc, companies, proposal, kong, protest, kongs, lam, contentious, leader, rights, security, extradition, participated, increased, vows, hong, despite, freedoms, mass, law


Hong Kong leader vows to go ahead with contentious China extradition law despite mass protest

Hong Kong’s top official doubled down on a contentious plan to allow extraditions to China on Monday, one day after hundreds of thousands of protesters took to the streets in one of the biggest demonstrations to shake the former British colony in years.

Carrie Lam, the territory’s chief executive, ignored calls for her resignation and reiterated the need for the legislation.

The rally highlights increasing public anger against the government’s proposal to seek legal changes to allow people in Hong Kong to be extradited to places with which it has no such agreement — including China.

Flanked by the secretaries for justice and security on Monday, Lam stressed safeguards built into the legislation to prevent human rights abuses and said she will continue in her job. She also lauded those who participated in the march and said it shows that Hong Kong’s “rights and freedoms are as robust as ever.”

Police estimated about 240,000 people marched Sunday at the peak of the protest which saw crowds overflow a city thoroughfare. Organizers, meanwhile, claimed that slightly more than one million people participated. The event rivaled a 2003 demonstration when a reported 500,000 people protested proposed security legislation.

Marchers shouted slogans and held up signs demanding the government withdraw the proposal and for Lam to quit.

It came as concerns have increased that Hong Kong’s rights and freedoms are eroding under what is perceived as increased efforts by the central government in Beijing to increase its influence.

Hong Kong, which on July 1 marks 22 years since Britain handed the territory back to China, was guaranteed a high degree of autonomy as a Special Administrative Region under a “one country, two systems” framework that was to remain unchanged for at least 50 years.


Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: kelly olsen
Keywords: news, cnbc, companies, proposal, kong, protest, kongs, lam, contentious, leader, rights, security, extradition, participated, increased, vows, hong, despite, freedoms, mass, law


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