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Stockwinners Market Radar for March 01, 2020 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
| MX | Hot Stocks20:08 EST MagnaChip Semiconductor announces CFO transition - MagnaChip Semiconductor announced that Jonathan Kim, MagnaChip's Chief Financial Officer, Executive Vice President and Chief Accounting Officer, is stepping down effective March 27, 2020 to pursue an executive opportunity outside of the semiconductor industry. Kim is expected to continue to serve in a consulting role for the company through May 2020 to assist in the transition. The company has initiated a search process to identify a permanent Chief Financial Officer and has retained an executive search firm to assist with the process. The company also announced that Shinyoung Park has been promoted to Chief Accounting Officer, effective immediately. The company added that, "Our strategic evaluation process continues to make progress, including having discussions with multiple interested parties toward a possible sale of the company's Foundry business and Fab 4, as well as consideration of accretive business conversions and other options related to that business. Our decisions regarding the outcome of the various options of the strategic evaluation process will be guided by what the Board and management consider to be the best available path to improve MagnaChip's profitability and to maximize shareholder value."
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| COST... | Hot Stocks19:46 EST Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. American Airlines (AAL) is waiving change fees on all newly purchased tickets amid declining air travel demand because of the new coronavirus outbreak, Reuters' David Shepardson reported. JetBlue (JBLU) said last week it would suspend change and cancellation fees for new flight bookings between February 27 and March 11, the author noted, adding that United Airlines (UAL) CEO Oscar Munoz told employees the U.S. airline would likely need to cut additional flights in the wake of sagging demand because of the coronavirus outbreak. 2. American Express (AXP) staff misled small-business owners to boost card sign-ups, as questionable sales tactics cropped up in push to retain cardholders after Costco (COST) partnership ended, The Wall Street Journal's AnnaMaria Andriotis wrote, citing more than a dozen current and former AmEx sales, customer service and compliance employees. The salespeople have misrepresented card rewards and fees, checked credit reports without consent and, in some cases, issued cards that weren't sought, the current and former employees said. An AmEx spokesman said the company found a very small number of cases "inconsistent with our sales policies." "All of those instances were promptly and appropriately addressed with our customers, as necessary, and with our employees, including through disciplinary action," he said. 3. Amid the coronavirus selloff, investors looking for a haven may want to consider Berkshire (BRK.A) and technology leaders like Alphabet (GOOGL), Microsoft (MSFT), and Apple (AAPL) that have cash-rich balance sheets and durable businesses, Andrew Bary wrote in this week's edition of Barron's. In industry after industry, it may pay to stick with the strongest companies, including a defensive Verizon Communications (VZ) in telecom, JPMorgan Chase (JPM) and Bank of America (BAC) in banking, Comcast (CMCSA) in cable television, and Chevron (CVX) and ConocoPhillips (COP) in the hard-hit energy sector, the author added. 4. Comcast (CMCSA) subsidiary Universal and Blumhouse's "The Invisible Man" won this weekend's North American box office with a $29M debut. Overseas, the movie earned an estimated $20.2M for a $49.2M global start. "The Invisible Man" sports a B+ CinemaScore and a 92% Rotten Tomatoes score. 5. PacWest Bancorp (PACW), Umpqua Holdings (UMPQ) and KeyCorp (KEY) saw positive mentions in this week's edition of Barron's.
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| NXPI | Hot Stocks18:22 EST NXP Semiconductors updates Q1 revenue outlook due to coronavirus possible impact - NXP Semiconductors provided an update to its Q1 2020 revenue guidance due to potential impacts from the novel coronavirus. "Subsequent to our earnings call on February 3rd, we now believe that our expectations for total revenue in the first quarter of 2020 will be reduced due to the impact of the coronavirus," said Richard Clemmer, NXP Chief Executive Officer. "Getting our arms around the actual business impact of the virus has been a challenge given the fluid and dynamic situation, but we want to stress that the most important thing at this stage is the health and safety of all our NXP team members and their families. From a business perspective, the impact is very much an estimate at this time, based on business trends over the last several weeks post the Lunar New Year holiday. What we have seen is lower than expected sell-through and order push outs in both our distribution channel and with direct customers. While we have not seen any material order cancellations, we currently expect the impact to revenue in the first quarter to be in the range of $50M-$150M. At the lower end of this range, the $50M impact is what we've actually seen so far, with the weakness most pronounced in the weeks after the Lunar New Year holiday, however, we have now seen more normal order levels in the last two weeks. The $150M upper range is estimated on a scenario where we would see a return of weakness in the coming weeks, like what we saw right after Lunar New Year. We need to stress that these assumptions are based on less than perfect data, as the situation in China continues to be highly fluid."
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| INFO | Hot Stocks17:44 EST IHS Markit cancels customer events in Q2, provides financial impact estimates - IHS Markit announced that given the situation regarding the coronavirus disease, it was necessary to cancel its large customer events in the second quarter of 2020. These include the TPM Conference in its Transportation segment, which was to be held March 1 to 4, 2020 in Long Beach, California; CERAWeek in its Resources segment, which was to be held March 9 to 13, 2020 in Houston, Texas; the World Petrochemical Conference in its Resources segment, which was to be held March 24 to 27, 2020 in New Orleans, Louisiana; and various smaller events across IHS Markit's Transportation and Resources segments. IHS Markit currently estimates the adverse financial impact of cancelling these events to be approximately $50M of non-recurring revenue and approximately 9c per diluted share of adjusted EPS. IHS Markit does not currently expect any other material adverse financial impact from the event cancellations and expects to hold these events in 2021 and beyond.
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| IR | Hot Stocks17:08 EST Gardner Denver, Ingersoll Rand industrial segment finalize merger - Gardner Denver completed the merger with the Ingersoll Rand Industrial segment. The newly combined company, named Ingersoll Rand, will begin trading Monday, March 2, on the New York Stock Exchange under the symbol 'IR.' Effective immediately, Ingersoll Rand will operate as four reportable segments, namely Industrial Technologies and Services, Precision and Science Technologies, High Pressure Solutions, and Specialty Vehicle Technologies. Ingersoll Rand has also appointed its three newest board members, Kirk Arnold, Gary Forsee and Tony White, who will commence their board service effective immediately. They are joining pre-merger Gardner Denver board members Chairperson Peter Stavros, Elizabeth Centoni, William Donnelly, John Humphrey, Marc Jones, Vicente Reynal and Joshua Weisenbeck to form the new Ingersoll Rand board.
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| FFIV | Hot Stocks16:57 EST F5 Networks postpones Analyst, Investor Event scheduled for March 3 - F5 Networks announced that it has postponed its Analyst and Investor Event previously scheduled for Tuesday, March 3, in New York, N.Y. The company said in a statement that, "Due to the growing concerns around COVID-19, including increasingly restrictive travel guidelines, F5 has elected to postpone its Analyst and Investor Event scheduled for Tuesday, March 3, 2020. We will announce a new date for the event as soon as practicable. At this time of uncertainty, including recent reported cases of the virus in Washington state, the health and safety of our employees, investors, and the general public must be the top priority. We believe that hosting a large group event drawing participants from many regions is not appropriate at this time. We look forward to continuing our dialogue with investors and to hosting this meeting soon." Over the weekend, F5 similarly postponed Agility, its annual user conference, previously planned for March 16-19 in Orlando, Florida.
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| X | Hot Stocks16:54 EST U.S. Steel acquires remaining 50% ownership interest in USS-POSCO industries - U. S. Steel has closed on the purchase of POSCO-California's 50% partnership interest in USS-POSCO Industries, effective February 29, 2020. After a long, collaborative relationship, U. S. Steel and POSCAL concluded that ownership of UPI by a single group represents the best opportunity for UPI to continue operating effectively and serve its customers. The January 23, 2020 purchase agreement regarding this transaction was previously disclosed in U. S. Steel's February 14, 2020 10-K filing. In the near term, U. S. Steel plans to operate UPI as a separate entity.
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