INSIGHT-Donahue may bring tough love to Puerto Rico power agency
BY NICK BROWN, MEGAN DAVIES AND TOM HALS
NEW YORK/WILMINGTON, DELAWARE, Sept 9 Tue Sep 9, 2014 2:20pm EDT
Davis is big....been around a long time. Don't know their track record but they run a dozen funds or so. As for technicals, we just hit a fib retracement point this AM at 25.84 and fell back. You don't want to see this break $25 on a close. That would put it below the 200ma and below the last pullback. If we can clear $27, then $29 would be next resistance. FWIW...hope it helps.
There is competition:
Lamperd Less Lethal's newly introduced on-officer cameras don't have as much market share, but offer potentially greater functionality. With features like an automated night vision sensor and laser positioning technology, the MSS100 Mobile Surveillance System provides streaming audio and video surveillance delivered as a live feed to any location desired by police, rescue, or security services.
AT&T has agreed with the feds on the conditions paving the way for it to buy DirecTV, a source close to the process told The Post.
AT&T worked out the plan with the Justice Department, according to the source. It could not be learned what, if any, conditions the DOJ has placed on the merger.
In May AT&T agreed to buy satellite television company DirecTV for $48.5 billion.
Agreeing to comply means the Department of Justice will likely clear the AT&T deal in October. The FCC still has not ruled on the merger.
The move will allow AT&T to add DirecTV’s 20 million satellite-TV subscribers to its 5.7 million U-Verse TV service subscribers, which currently spans 22 states.
This merger has caused concern among those who believe the convergence of the few remaining telecom and cable giants will cause a rise in prices.
Senator Al Franken (D-Mn.) in July wrote in a letter to the Department of Justice, “I urge you to carefully scrutinize AT&T’s proposed acquisition of DirecTV to determine whether the deal is in consumers’ best interests.”
“If AT&T is permitted to acquire DirecTV, the combined entity will have enhanced power in virtually every corner of the telecommunications market—power that AT&T potentially could use to obtain an unfair advantage over consumers and competitors. As such, I have some concerns about this deal.”
Being able to work out a deal with the regulators is a good sign for Comcast so that it will know what conditions it will face for its proposed merger with Time Warner Cable, the source said.
The combined subscription base of 26 million customers would be second only to Comcast and TWC’s, which would boast 30 million combined.
AT&T declined to comment.
Exclusive: Phone registry company Neustar weighs sale - sources
By Greg Roumeliotis, Nadia Damouni and Liana B. Baker
NEW YORK Fri Aug 22, 2014 2:14pm EDT
(Reuters) - Neustar Inc, a company which helps North American telecommunication carriers route calls and text messages, is considering a potential sale amid interest from private equity firms, according to people familiar with the matter.
No formal sale process is currently underway but Neustar is working with investment bank JPMorgan Chase & Co as it reviews possible options following a more than 40 percent drop in its share price year-to-date, the people said this week.
Neustar shares were trading up 10 percent on the news at $31.5 in afternoon trading in New York.
Much of Neustar's woes stem from a major government contract it stands to lose to Ericsson AB subsidiary Telcordia Technologies. A sale process may not start until the winner of that contract has been finalized, the people said.
Some buyout firms have already expressed interest in a leveraged buyout of Neustar, which has a market value of $1.8 billion, and would consider buying it even without that contract, the people added.
The sources cautioned that Neustar may decide against a sale and asked not to be identified because the deliberations are private. Neustar and JPMorgan declined to comment.
Since 1997, Neustar has managed the world's largest local number portability registry in the world that allows customers to transfer phone numbers among different carriers, serving more than 2,000 telecom carriers in the U.S. and Canada. This exclusive government contract, which expires in 2015, accounts for about half of Neustar's revenues.
A federal advisory committee has recommended that the U.S. Federal Communications Commission award the new contract to Telcordia.
Neustar counters that Ericsson shouldn't be given the contract because its relationships with telecoms carriers prevent it from administering the database in a neutral way and it may not be able to keep it safe. Ericsson disputes this.
Going private could allow Neustar to restructure its operations, should it lose the government contract, without having to worry about its share price performance. It is a route that computer maker Dell Inc chose last year when its founder partnered with buyout firm Silver Lake Partners LP to take it private.
At an Oppenheimer industry conference last week, Neustar Chief Financial Officer Paul Lalljie said he had no exact timeline for when the contract will be awarded.
"We definitely don't have to go anywhere for capital. Even with or without this business, we are cash flow positive," he said.
Neustar is a Sterling, Virginia-based company created by private equity firm Warburg Pincus LLC, which carved it out of Lockheed Martin Corp in 1999 and took it public in 2005. Warburg, together with Providence Equity Partners LLC, also sold Telcordia to Ericsson in 2012.
Other private equity firms have also shown strong interest in companies serving telecom carriers in the last few years. Carlyle Group LP, for example, took Syniverse Technologies LLC, a provider of voice and data services for telecommunications operators, private in 2011 for $2.6 billion.
(Reporting by Greg Roumeliotis, Nadia Damouni and Liana B. Baker in New York; Editing by Meredith Mazzilli, Bernard Orr)
Neustar inc nsr.n considering whether is should launch a sale process amid interest from private equity firms-sources nsr.n - rtrs
I just curious as to where I can find explantion of the insider selling by mngt.?
Thx. I am long and looking for today's high of 6.64 to give way. Tested too many times today not to give way to higher prices.
CLSA Downgrades GT Advanced Tech $GTAT to Underperform http://streetinsider.com/r/9770022
Hard to believe all the activity especially on the put side. Over 3000 Sept. 2.5 & 5's traded so far today to 500 Sept. calls. Most of them @ the ask.
At first I thought they were spreads to hedge the results. Time and volume don't match up for a large spread of the L $5 and S $2.5 puts. Tough to know who is doing what. Yesterday someone jumped on 2000 $5 puts @ the ask price. Big hedge or big bet...who knows.
The WSJ’s Heard on the Street column may take a dim view of GT Advanced Technologies (GTAT), but investors were buying the stock today.
Ending the day at $18.23, GT Advanced climbed 5% during market hours after more than 12 million shares changed hands, continuing an upward climb that has tripled its value in the past year.
In after-hours trading, the stock gained another0.9%.
But in piece published online 30 minutes before the closing bell, WSJ writer Dan Gallagher warned the Apple (AAPL) launch of its new iPhone 6 may dim prospects for GT Advantage. As Gallagher writes:
GT is building a manufacturing facility in Arizona in partnership with Apple to produce sapphire material for the iconic company’s devices. The next iPhone, expected to hit stores in late September, will reportedly use sapphire to make its screen tougher and more scratch-resistant. Apple hasn’t announced details of its next device. But leaks about a new screen design have set a high bar for GT to ramp up a new business—and quickly…the company still has some big targets to hit in the near term: About 88% of GT’s full-year revenues will have to come in the second half if it is to meet its current projection.
Apple is expected to announce its new iPhone on Sept. 9. GT Advantage’s venture with Apple has it supplying the iPhone maker with sapphire material for its iconic devices. The material is reportedly going to be used to make the screen on the iPhone 6 more scratch resistant.
Analysts have been mixed in their outlook and targets for the company. Last week, Cowen initiated coverage at Outperform, with a $19 a share target price. But just a week earlier, Canaccord cut its target price for the stock from $20 to $16, questioning whether the company can make the EPS forecast of 12 cents to it has offered for this year.
Here's the rest:
The country's restructuring experts and its Government Development Bank (GDB) are in talks with banks to extend PREPA's loans of $671 million to March 2015, with an option to shorten the extension to the year end, said the source, who is in contact with the negotiating parties.
Another option would be another short term extension similar to a recent two-week reprieve, said the source, who declined to be identified because the discussions are confidential. Talks are continuing and still may fail to produce a deal.
PREPA faces a deadline of Thursday to the loans to Citigroup and Scotiabank.
The banks will also name a chief restructuring officer with the remit to develop a restructuring plan by March, the source said.
Citi declined comment. PREPA and Scotiabank were not immediately available for comment.
Aug 13 (Reuters) - Puerto Rico's electric power authority PREPA is likely to receive an extension of vital lines of credit it uses to buy oil, a financial industry executive familiar with the situation said, giving breathing space to the island's debt-stricken utility.
Find the rest of the article w/ google