Morgan Stanley Initiates MGM Resorts International (MGM) Overweight $29.00
Telsey Advisory Group Raises Target MGM Resorts International (MGM) Outperform $26.00 - $27.00
Cowen and Company Raises Target Calumet Specialty Products Partners, L.P (CLMT) Market Perform $5.00 - $10.00
DA Davidson Upgrades Calumet Specialty Products Partners, L.P (CLMT) Underperform - Neutral $5.00
BTIG Research Reiterates American International Group (AIG) Outperform $75.00
Goldman Sachs Reiterates American International Group (AIG) Buy $66.00
Boardwalk Pipeline beats by $0.06, beats on revs (BWP) :
Reports Q1 (Mar) earnings of $0.40 per share, $0.06 better than the Capital IQ Consensus of $0.34; revenues rose 4.6% year/year to $345 mln vs the $333.39 mln Capital IQ Consensus. Q1 EBITDA of $222.7 million, a 9% increase from $204.6 million in the comparable 2015 period.
BRIEF-Groupon Q1 non-GAAP loss per share $0.01
* Groupon announces first quarter 2016 results
* Q1 GAAP loss per share $0.08
* Sees FY 2016 revenue $2.75 billion to $3.05 billion
* Q1 earnings per share view $-0.02 -- Thomson Reuters I/B/E/S
* Groupon inc says affirming fiscal year 2016 revenue guidance of $2.75 billion to $3.05 billion
* Groupon inc says increased 2016 expected adjusted ebitda range to $85 million to $135 million
* Q1 non-GAAP loss per share $0.01
* Q1 revenue $732 million versus i/b/e/s view $718.4 million
* Fy2016 earnings per share view $-0.06, revenue view $3.01 billion
Groupon beats by $0.01, beats on revs; guides FY16 revs in-line
Reports Q1 (Mar) loss of $0.01 per share, $0.01 better than the Capital IQ Consensus of ($0.02); revenues fell 2.5% year/year to $732 mln vs the $719.26 mln Capital IQ Consensus.Gross Billings were $1.47 bln in the first quarter, down 5% from $1.55 bln in 1Q15, or 3% excluding the unfavorable impact of year-over-year changes in foreign exchange rates.Gross profit was $339.3 mln in 1Q16, compared with $347.4 mln in 1Q15. Gross profit declined 2% globally, but was flat excluding the unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter.Operating cash flow for the trailing twelve months ended March 31, 2016 was $179.4 mln. Free cash flow was negative $96.7 mln in 1Q16, bringing free cash flow for the trailing twelve months ended March 31, 2016 to $93.8 mln.
Co issues in-line guidance for FY16, sees FY16 revs of $2.75-$3.05 bln vs. $3.01 bln Capital IQ Consensus Estimate. Sees adjusted EBITDA of $85-$135 mln.