Common Stock Repurchases, Earnings Releases, Leadership Changes, and Strategic Acquisitions - Analyst Notes on SeaDrill, Mohawk, Keurig, Kraft and BNY Mellon
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NEW YORK, May 7, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding SeaDrill Limited (NYSE: SDRL), Mohawk Industries Inc. (NYSE: MHK), Keurig Green Mountain Inc (NASDAQ: GMCR), Kraft Foods Group, Inc. (NASDAQ: KRFT) and The Bank of New York Mellon Corporation (NYSE: BK). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2141-100free.
SeaDrill Limited Analyst Notes
On April 23, 2014, Seadrill Limited (Seadrill) in a regulatory disclosure stated that it has repurchased 300,000 of the Company's own common stock at an average price of NOK196.80 per share through market purchases on April 22, 2014. According to the Company, concurrent to the transaction, the Total Return Swap (TRS) agreement entered into on March 17, 2014 has been reduced by 300,000 to 450,000 shares. Hence, the Company has exposure to as much as 4.2 million common shares through TRS agreements with Seadrill as underlying security and currently has treasury shares holding of 324,064. The full analyst notes on SeaDrill are available to download free of charge at:
http://www.analystsreview.com/2141-SDRL-07May2014.pdf
Mohawk Industries Inc. Analyst Notes
On May 1, 2014, Mohawk Industries Inc. (Mohawk) reported Q1 FY 2014 financial results (period ended March 29, 2014). Mohawk generated revenues of $1.81 billion, up 21.9% YoY. The Company announced adjusted earnings increased to $90.4 million, or $1.23, per share, compared to $61.1 million, or $0.87 per share in Q1 FY 2013. Thomson Reuters analysts estimated the Company to generate earnings of $1.17 per share on revenues of $1.86 billion for Q1 2014. Jeffrey Lorberbaum, CEO Mohawk, said, "First quarter earnings were higher than expected due to our 2013 acquisitions, improved productivity across our business and stronger results outside North America, although severe winter weather in the U.S. impacted sales." Going forward, Mohawk anticipates EPS of $2.14 to $2.23 for Q2 2014 and between $8.00 and $8.30 for FY 2014, excluding any unusual charges. Shares of Mohawk gained 5.7% to end at $140.94 in the next trading session. The full analyst notes on Mohawk are available to download free of charge at:
http://www.analystsreview.com/2141-MHK-07May2014.pdf
Keurig Green Mountain Inc Analyst Notes
In an SEC filing dated May 2, 2014, Keurig Green Mountain, Inc. (Keurig) announced the appointment of Stephane Glorieux as the President, Keurig Canada Inc., a wholly owned subsidiary of the Company, effective May 23, 2014. Glorieux will replace Sylvain Toutant, who resigned on May 1, 2014. From 2012 until 2014, Glorieux served as Vice President, Supply Chain and Manufacturing for Keurig Canada. Prior to joining Keurig, Glorieux worked with Kraft Foods. In addition, Keurig will host Q2 FY 2014 conference call webcast on May 7, 2014. According to Zacks investment research data, the consensus EPS forecast for Q2 FY 2014 is $0.95. The full analyst notes on Keurig are available to download free of charge at:
http://www.analystsreview.com/2141-GMCR-07May2014.pdf
Kraft Foods Group, Inc. Analyst Notes
On May 1, 2014, Kraft Foods Group Inc. (Kraft) reported Q1 FY 2014 financial results (period ended March 29, 2014). Kraft reported net revenue of $4.4 billion, down 3.3% YoY due to the timing of Easter-related shipments versus the prior year. The revenue figure also missed Zacks consensus estimate of $4.5 billion. According to Kraft, organic net revenues declined 2.4% from lower volume/mix of 2.8 percentage points that was partially offset by 0.4 percentage points of higher pricing. Net earnings came in at $513 million, or $0.85 per share, compared to $456 million or, $0.76 per share in the prior year period. According to the Company, the $0.09 increase in EPS versus the prior year included a $0.02 benefit from market-based impacts to post-employment benefit plans as well as a $0.05 favorable change in unrealized gains/losses from hedging activities. The full analyst notes on Kraft are available to download free of charge at:
http://www.analystsreview.com/2141-KRFT-07May2014.pdf
The Bank of New York Mellon Corporation Analyst Notes
On May 2, 2014, The Bank of New York Mellon Corporation (BNY Mellon) announced that it has completed the acquisition of HedgeMark International, LLC (HedgeMark). According to the Company, HedgeMark will become a part of BNY Mellon's Asset Servicing business, allying a number of groups, including its Global Risk Solutions and Alternative Investment Services units. BNY Mellon stated it held a 35% ownership in the firm since 2011 and in February 2014, it announced an agreement to acquire the remaining stake. Samir Pandiri, BNY Mellon, Executive Vice President and CEO of Asset Servicing, said, "HedgeMark's capabilities align closely with many of our global investment services solutions and will help us deliver improved governance, risk reporting, and transparency to institutions with significant hedge fund investments. We are thrilled to welcome HedgeMark CEO Andrew Lapkin and his team to the BNY Mellon organization." The full analyst notes on BNY Mellon are available to download free of charge at:
http://www.analystsreview.com/2141-BK-07May2014.pdf
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