HALISTER: Stanley Black & Decker to Buy Craftsman Brand From Sears

Stanley Black & Decker to Buy Craftsman Brand From Sears

(Bloomberg) -- Stanley Black & Decker to buy Craftsman brand from Sears Holdings.
  • Will pay SHLD $525m at closing, $250m at end of year three, and annual payments on new Craftsman sales through year 15 (2.5% through 2020, 3% through January 2023, and 3.5% thereafter)
  • Statement:Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
SHLD US (Sears Holdings Corp)
SWK US (Stanley Black & Decker Inc)

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UUID: 7947283

(2) *STANLEY BLACK & DECKER TO BUY CRAFTSMAN BRAND FROM SEARS

*STANLEY BLACK & DECKER TO BUY CRAFTSMAN BRAND FROM SEARS

Alerts: HALISTER, HALISTER1
Source: BN (Bloomberg News)

Tickers
SHLD US (Sears Holdings Corp)
SWK US (Stanley Black & Decker Inc)

People
Edward Lampert (Sears Holdings Corp)
Greg Waybright (Stanley Black & Decker Inc)
Howard Riefs (Sears Holdings Corp)
James Loree (Stanley Black & Decker Inc)

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UUID: 7947283

HALISTER1: BRL Rally May Open Room for BCB to Cut Swap Holdings: Icap

BRL Rally May Open Room for BCB to Cut Swap Holdings: Icap

(Bloomberg) -- BRL gains in 2017 reflect inflows, including seasonal transactions, companies offering bonds overseas and M&A, Italo Abucater, FX trading head at Icap Brasil, says in a phone interview.
  • Continuing inflows may lead BRL to 3.10/USD, opening room for BCB to resume FX reverse swaps auctions or to skip rolling over the swaps expiring during this month
  • While absence of local negative political news during recess in Brazil’s Congress and Justice also bolsters BRL, the scheduled inauguration of Donald Trump in U.S. is a risk for FX volatility
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Italo Abucater (ICAP PLC)

Topics
Holding Decreases

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UUID: 7947283

HALISTER: Walgreens Boots FY17 Adj. EPS Forecast Midpoint Tops Est.

Walgreens Boots FY17 Adj. EPS Forecast Midpoint Tops Est.

(Bloomberg) -- Walgreens Boots sees FY17 adj. EPS $4.90 to $5.20, est. $5.02 (range $4.90-$5.15)
  • 1Q adj. EPS $1.10, est. $1.09 (range $1.01-$1.15)
  • 1Q U.S. retail pharmacy comp. sales +1.1%
  • 1Q adj. Oper margin Unchanged at 5.9%
  • View Incl Accretion $0.05-$0.12 From Rite Aid
  • Raises Yr Lower End of Guidance by 5c/Shr
  • Raises Lower End of Guidance for FY 2017
  • Working Toward Closing Rite Aid Deal Early Part Calendar Yr
  • 18 buys, 9 holds, 0 sells before today
  • Call 8:30am (NY time)
Statement
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
WBA US (Walgreens Boots Alliance Inc)

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UUID: 7947283

HALISTER1: Bund Futures Levels in Focus Into Large Duration Supply in EGBs

Bund Futures Levels in Focus Into Large Duration Supply in EGBs

(Bloomberg) -- Ahead of heavy duration auction supply due to hit the EGB market today, attention turns to 163.02-162.84 support zone; outlook for bunds lower after corrective phase higher peters out, Bloomberg technical analyst Sejul Gokal writes.
  • See chart; now +1 tick to 163.20
  • Large auction supply due to hit the EGB market today from France and Spain within a 20-minute time frame, which may pressure bund futures into the bidding deadlines
  • Support comprised of Dec. 22 and Jan. 3 lows and 38.2% Fibonacci of early Dec. up-leg
  • Resistance at 163.88 (200-DMA) and then 164.07
  • 5-day point-of-control at 164.30; yesterday’s point-of- control at 163.25 with value area at 163.48-163.18 (initiative trading activity may occur outside value lines), according to Market Picture study
  • NOTE: Sejul Gokal is a technical strategist who writes for Bloomberg. The observations he makes are his own and are not intended as investment advice.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: AUCTION PREVIEW: OAT Supply May Require Further Concession

AUCTION PREVIEW: OAT Supply May Require Further Concession

(Bloomberg) -- France due to sell 0.25% 11/2026, 1.25% 05/2036, 3.25% 05/2045, 1.75% 05/2066 for EU8.5-9.5b at 10:50am CET; equivalent in risk terms to ~EU16.5m/01 or 112k bund futures.
  • Analysts look for supply to be skewed toward the long-end, see scope for some additional concession given large duration on offer
  • Mizuho (Antoine Bouvet, Peter Chatwell)
    • This supply is heavily skewed toward the long end, could weigh some more on market direction going into bidding deadline
    • Long end of France’s curve has been under steepening pressure this week from the prospect of this auction as well as long end supply from Ireland this week, Netherlands and Austria next week
    • Interesting yield levels are on offer for outright investors, with 05/2036 close to 1.5%, 05/2045 close to 1.75%
    • Tight repo levels suggest the 05/2036 issue should be most successful
  • ING (Benjamin Schroeder)
    • Yesterday saw some concession built, especially in the 05/2036 as France recently also announced its inaugural green bond in the 15y-25y area
    • Ultra-long sector has come under pressure with the 30s50s ASW curve having steepened ~5bps from mid- December lows
    • OAT/bund 10y spread widened 2bps to 53bps yesterday, moving closer to 2-year high of 55bps/56bps seen at end of November
      • This may partly reflect increased investor concern about French political risk after Le Pen’s comment that she wants to leave the euro, re-denominate French government debt
  • Commerzbank (Rainer Guntermann)
    • France typically skews first auction of the year toward the ultra-long end, the target sizes are bold
    • Price concessions have been pronounced accordingly, particularly for the 30y benchmark with 10s30s OATs and spread vs 30y bunds each widening to multi-year highs
  • Citi (Aman Bansal)
    • 05/2036 issue looks cheap on the 10s20s30s fly, while the 05/2045 bond offers value on the 20s30s40s fly
    • See the 50y issue as attractive vs RAGBs
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Aman Bansal (Citigroup Inc)
Antoine Bouvet (Mizuho Financial Group Inc)
Benjamin Schroeder (ING Groep NV)
Peter Chatwell (Mizuho Financial Group Inc)
Rainer Guntermann (Commerzbank AG)

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UUID: 7947283

HALISTER1: Tetangco Eyes More Banking Reforms in Last Months of Second Term

Tetangco Eyes More Banking Reforms in Last Months of Second Term

(Bloomberg) -- Bangko Sentral ng Pilipinas Governor Amando Tetangco is planning more reforms in banking system in last months of his second term as central bank chief, he tells reporters in Manila.
  • Philippines must strengthen law against money laundering, and can make headway in expanding covered institutions and adding more predicate crimes to laundering like tax evasion
  • Tweak in banks’ reserve requirement ratio is a live policy reform and remains on the table
  • Tetangco seeks to broaden access to and affordability of financial services, strengthen good governance in banks particularly in managing conflict of interest, improve risk governance; to strengthen central bank’s oversight of non- bank institutions to boost consumer protection
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
BSNZ PM (Bangko Sentral ng Pilipinas)

People
Amando Tetangco (Bangko Sentral ng Pilipinas)

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UUID: 7947283