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it became effective january 1, 2016, and increased the amount of renewable energy that must be delivered by most load-serving entities, including the company, to their customers from 33% of their total annual retail sales by the end of the 2017-2020 compliance period, to 50% of their total annual retail sales by the end of the 2028- 2030 compliance period, and in each three-year compliance period thereafter, unless changed by legislative action.
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long-term debt balance at the end of the second quarter of 2019 was $734 million, reflecting an increase of 7.9% from 2018 level.
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reasons to sell: soft q2 results hurt the stock: in the past three months, shares of foot locker has plunged 30.5% compared with the industry's decline of 4.5%.
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walmart international: segment net sales slipped 2.3% to $32.3 billion.
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operating income in the second quarter was $1.9 million, significantly down from the year-ago quarter’s $12.8 million.
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financials at the end of the reported quarter, the company had a cash balance of $603 million and long-term debt of $3,793.9 million, with debt-to- capitalization ratio of 38.5%.
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meanwhile, comps are anticipated to grow roughly 2%, at the high end of the previously guided range of 1% to 2%.
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improved guidance: given solid second-quarter performance, everquote also upped its 2020 revenue expectation to a range of $331 million to $336 million from the prior range of $318 million and $327 million.
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inks deal to be acquired by novartis: in october 2018, endocyte entered into an agreement and plan of merger with novartis ag pursuant to which novartis will acquire endocyte for $24 per share, or a total equity value of approximately $2.1 billion, in cash.
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however, comps at seasons 52 fell 0.5% in the quarter compared with the prior-quarter comps decline of 2.2%.
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total interest charges and financing costs in the reported quarter rose 17.1% from the prior-year quarter’s figure to $192 million.
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windows oem pro revenues increased 8% on a year-over-year basis.
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operational update phibro’s fiscal third-quarter gross profit increased 3.1% year over year to $60.6 million.
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the overall operating portfolio, including 181 properties (excluding three residential properties and hotel), was 91.1% leased as of sep 30, 2018.
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in fact, over the period 2014–2024, healthcare spending is expected to grow annually at a rate of 5.8%.
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in december 2018, the company raised its annual dividend rate by 1.2% to $2.45 per share.
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mosaic is taking actions to cut costs amid a still challenging operating environment through its $575 million cost-cutting program, leading to an improvement in its operating cost structure.
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last earnings report ventas' q4 ffo in line, revenues surpass estimates ventas reported fourth-quarter 2016 normalized ffo per share of $1.03, in line with the zacks consensus estimate as well as the prior-year quarter figure.
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premiums and fees at individual life are projected to increase in the band of 4-8%.
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pre-tax operating earnings increased 23.7% year over year to $259.8 million owing to solid performance at retirement and income solution — fee business as well as at retirement and income solution — spread business.
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revenues: net sales during the quarter came in at $680.7 million, beating the zacks consensus estimate of $667 million.
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again, wood products’ net sales declined 17.4% in the first quarter mainly due to decreased sales realizations and reduced sales volumes across majority of its product lines.
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operating profit declined 3.1% to $493.1 million, while operating margin decreased more than 90 bps to 8.5%.
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supervalu operates its business through these segments: wholesale segment (73% of 3q18 sales) derives revenues from wholesale distribution of groceries and other products, logistics services and professional service solutions to retail stores and other wholesale customers.
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during the quarter, the company paid dividends of $225 million.
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capital expenditures are expected to be nearly $11 billion in fiscal 2020.
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however, research and development expenses were $1 million, lower than the prior-year level of $2 million.
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as of jun 30, 2017, the company’s basel iii capital ratios on a transitional basis exceeded regulatory requirements, with a cet1 capital ratio and a total capital ratio of 11.2% and 14.0%, respectively.
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however, it projects its pretax annuity earnings to be intact as the prior guidance of 365-$425 million in 2019 due to the negative impact of market interest rates in 2019.
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the company continues to anticipate capital expenditure for fiscal 2017 to be in the range of $715-$765 million.
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evercore’s expense base has witnessed a cagr of 19.6% over the last five years (ended 2018).
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consequently, the segment recorded operating loss of $16.4 million – significantly narrower than the loss of $62.5 million incurred in the year-earlier quarter.
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the company initiated a program to repurchase up to $400 million of shares in the next 24 months, which will further increase wpx energy’s shareholder value.
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oil production in the quarter was 97.9 thousand barrels per day, which was nearly 21% higher than the year-ago level, courtesy of 30% and 25% growth in volumes in delaware and williston basins over the past 12 months.
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financial update the company ended the quarter with cash and cash equivalents of $46 million, long-term debt of $1,700 million and total stockholders’ equity of $400 million as of dec 2, 2017.
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reasons to buy: shares of firstenergy has lost 0.2% in the last one month compared with the zacks categorized utility-electric power industry loss of nearly 3.6%.
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with the completion of the transaction, bell canada gained almost 710,000 wireless, internet and iptv customers in manitoba, a 5% increase in total broadband service subscribers.
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enbridge’s dividend yield of 6.1% is higher than both the industry as well as s&p 500.
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the stock dipped 7.3% in the past year, while the industry recorded a decline of 9.1%.
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for 2017, the company reported net revenues of $103 million compared with $80.5 million in 2016.
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guidance for first-quarter fiscal 2020, revenues are projected between $85.5 billion and $89.5 billion.
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reasons to sell: persistent softness in retail business hurts stock: supervalu has seen its shares plunge 44.4% in a year, in comparison with the industry's 1.3% dip.
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the company intends to reduce carbon emissions by 80% compared with 2005 levels.
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of the total expense, $8.6 billion has been allotted for traditional investment that focuses on expanding its distribution and transmission facilities as well as generating more electricity.
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in order to safeguard against fluctuating commodity prices, wpx energy has 60,500 barrels per day (bbl/d) of oil hedged for the remaining of 2019 at a weighted average price of $55.29 a barrel.
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also, despite of increase in it spending this year, it will still remain below the 2014 level of $3.8 trillion.
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total revenue, net of interest expenses, inched up 1% year over year to $1.4 billion, primarily driven by higher discount revenue, net interest income and net card fees.
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total advertising revenue came in at $120.8 million in the reported quarter, up 1.3% year over year.
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during the third quarter of 2018, the company estimated that weather-related woes impacted quarterly earnings by approximately $27 million.
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management expects social point to contribute 6% of the total revenue in the current fiscal.
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foot locker now expects adjusted earnings per share to decline in the band of 20–30% (excluding a benefit of 12 cents from 53rd week) during the second half of 2017.
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its top five customers comprised 69.9% and 73.9% of revenues in fiscal 2017 and fiscal 2016, respectively.
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portfolio activity during the quarter, the company announced acquisitions of a parcel for $700,000.
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thermo fsher's $7.2 billion buyout of netherlands-based patheon, a global provider of high-quality drug solutions to pharmaceutical and biopharma sectors is successfully expanding its biopharma services in europe.
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capital expenditures declined 10.9% year over year to $3.36 billion.
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management estimates property and casualty renewal pricing in 2019 to be up 1% to 3% (up from flat to up 2% guided earlier).
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natural gas: the segment contributed 15.1% or $1,739 million to total revenues in 2018.
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dte energy had an available liquidity of $2 billion as of mar 31, 2017.
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during 2018, the company has managed to increase revenues (12.7%), earnings from continuing operations before taxes (up 72.5%), and adjusted ebitda (up 15.3%), while decreasing overhead expenses as a percent of total revenues, despite higher diesel fuel and liquid asphalt costs.
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the company renewed its revolving line of credit with western alliance bank in august 2020, increasing it to $25 million.
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the company had around $330 million in unrestricted cash and cash in escrow as of the same date.
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walmart u.s. segment (66% of q4 sales) operates retail stores in different formats in the u.s. and also in puerto rico.
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the company had cash and cash equivalents of $6.967 billion as of jul 31, 2017 and generated cash flow of $1.775 billion from operational activities during the third quarter.
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tax-equivalent nii grew marginally on a year-over-year basis to $989 million.
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in the fiscal first quarter 2018, actuant’s energy segment’s revenues dipped 10.4% year over year.
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additionally, westlake chemical’s board declared regular dividend distribution of 25 cents per share, up 19% from 21 cents in thesecond quarter.
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in the americas, the company recorded revenues of $465.1 million, up significantly from 241.3 million in the year-ago quarter.
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segmental details revenues of the service center based distribution segment came in at $601 million, up 4.8% year over year.
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operating profit before exceptional items (excluding acquisitions and disposals) went up 4.4% year over year on an organic basis.
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these expansions are a part of the company’s $600-$650 million capital expenditure program for 2018.
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operating profit increased 26% in the reported period.
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the consumer business revenues advanced 16% (up 17% at cc) year over year in the quarter.
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in the first quarter of 2018, materials, supplies, labor and other production costs totaled $625.1 million, up 2.8% from a year ago.
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excluding the effects of special items, the company’s gaap earnings came in at $2.92 per share compared with $2.21 a year ago.
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while patterson-uti sees an average rig count of 169 in the first quarter, it also expects average rig revenue per day to increase $300 sequentially, driven by favorable repricing of short-term contracts.
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notably, quarterly revenues exceeded the company’s guidance range of $55-$60 million.
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these include reduction of capital expenditure by around $100 million to $325-375 million.
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as of jul 1, 2019, the company had a total contracted backlog of $2 billion that reflects more than 20 rig years of work.
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furthermore, the company intends to buy back shares worth $10- $15 million in each quarter of fiscal 2018.
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in the reported quarter, total retail customers served by the company increased 0.5% to nearly 2.9 million.
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in addition, berkshire hathaway will receive 100,000 preferred shares that will accrue dividends at 8% annually.
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outlook: applied industrial anticipates to bolster its sales by 4-5% in fiscal 2018 (ending june 2018).
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in the quarter under review, actuant used cash worth $20.5 million from operating activities, as against $12.5 million cash provided in the year-ago period.
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bleak outlook: with prevailing industry dynamics to continue in 2017, management expects comparable sales to decline in the range of 3–4% in remaining part of 2017.
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during the quarter, the company made capital investment of $75 million.
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home products sales increased 3.8% to $327.6 million and apparel category sales grew 4.3% to $298.3 million.
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same-store sales growth is still anticipated in the band of marginally positive to 2% for fiscal 2017.
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the company expects ad-revenue growth on a year-over-year basis to be roughly 10%.
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gross margin flat y/y in the quarter under review, mrc global’s cost of sales declined 10.5% year over year to $810 million.
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in fourth-quarter fiscal 2020, cash flow provided by operations was $117.8 million.
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coming to expenses, marketing surged 56.6% year over year to $730.4 million.
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the stock has fallen 14% compared with the industry’s decline of 8% in the aforementioned period.
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the pacific northwest timber segment reported an operating loss of $6.7 million, much wider than the operating loss of $3.8 million posted in second-quarter 2019.
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comps at the capital grille rose 3.8%, higher than the prior-quarter comps growth of 2%.
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notably, non- interest expenses recorded a cagr of 8.9% over the last four years (2015-2019), primarily due to rise in almost all the cost components.
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reasons to buy: evercore generates majority of revenues from its investment banking business and has witnessed a cagr of 25.3% over the last five years (ended 2018).
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the average price of homes delivered was $788,500 in the quarter, down 12% from the year-ago level of $895,900.
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per the agreement, sarepta will make a one-time payment of $35 million to biomarin plus unspecified regulatory and commercialmilestone payments for exons 51, 45, 53, and on future exon-skipping products.
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north-american live event revenues came in at $40.9 million, down 2.2% year over year.
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moreover, emea revenues were $99 million, up 22.2%.
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