HALISTER1: Abenomics Relaunched: Japan Still Lacks a Fiscal Strategy

Abenomics Relaunched: Japan Still Lacks a Fiscal Strategy

Alert: HALISTER1
Source: DBR (Dominion Bond Rating Service)

Tickers
1319293D JP (Japan)

People
Shinzo Abe (Japan)
Fergus McCormick (DBRS Inc)
Jason Graffam (DBRS Inc)

Topics
Fixed Income Research
Prov., Reg. Credit Research
Credit Analysis Research
Credit Research
Investment Research

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UUID: 7947283

HALISTER1: U.S. ECO PREVIEW: Jobless Claims, Philly Fed Due in 5 Minutes

U.S. ECO PREVIEW: Jobless Claims, Philly Fed Due in 5 Minutes

(Bloomberg) -- Initial jobless claims seen at 265k in wk ended Aug. 13 vs 266k prior wk (forecast range 260k to 275k); represents inflow of workers receiving unemployment benefits.
  • Claims have been below 300k for 75 weeks in a row, longest stretch since 1970s
  • Philadelphia Fed Business Outlook seen at 2 in July vs -2.9 in June (forecast range -5 to 7); gauge of sentiment in Philadelphia Fed district (Eastern Pennsylvania, Southern New Jersey, Delaware)
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: *UNITED BANKSHARES TO BUY CARDINAL FINL IN DEAL VALUED AT $912M

*UNITED BANKSHARES TO BUY CARDINAL FINL IN DEAL VALUED AT $912M

Alert: HALISTER1
Source: BN (Bloomberg News)

Tickers
CFNL US (Cardinal Financial Corp)
UBSI US (United Bankshares Inc/WV)

People
Bernard Clineburg (Cardinal Financial Corp)
Christopher Bergstrom (Cardinal Financial Corp)
Richard Adams (United Bankshares Inc/WV)

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UUID: 7947283

HALISTER: Wal-Mart Boosts Yr Adj. EPS View, 2Q Adj. EPS, Comps. Top Ests.

Wal-Mart Boosts Yr Adj. EPS View, 2Q Adj. EPS, Comps. Top Ests.

(Bloomberg) -- Wal-Mart boosts FY17 adj. EPS view to $4.15-$4.35, saw $4.00-$4.30 in Feb., may not compare with est. $4.26.
  • Year view includes dilutive impact ~5c, mostly in 4Q, from expected operating losses, one-time deal costs related to planned acquisition of Jet.com
  • Targets year tax rate at low end of 31.5%-33.5% range
  • Sees 3Q EPS 90c-$1.00, est. 93c (range 84c-$1.01)
  • Sees 3Q Wal-Mart U.S. comp. sales growth 1%-1.5%; sees 3Q Sam’s Club comp. sales ex-fuel “slightly positive”
  • 2Q adj. EPS $1.07, saw 95c-$1.08 in May, est. $1.02
  • 2Q rev. $120.9b vs est. $120.3b (range $118.9b-$122.7b)
  • 2Q consolidated U.S. comps. ex-fuel +1.4%, est. +0.9% (Consensus Metrix avg of 19)
    • Wal-Mart U.S. comps. ex-fuel +1.6%, est. +1.0%, co. saw up ~1.0%
    • Sam’s Club U.S. comps. ex-fuel +0.6%, est. +0.1%, co. forecast “slightly positive)
    • Neighborhood Market Comp. sales rose ~6.5%; no est.
  • Wal-Mart U.S. traffic up 1.2%, ticket +0.4%; Sam’s Club traffic -0.4%, ticket up 1.0%
  • Globally, on constant currency basis, e-commerce sales, GMV increased 11.8%, 13.0%, representing acceleration from 1Q
  • Prerecorded call 7am 877-523-5612, pw 9256278
  • See PREVIEW WAL-MART 2Q: Comp. Sales, Jet.com, Pricing Initiatives
  • NOTE: Aug. 17, Target Cuts Year Adj. EPS View Amid ‘Challenging’ 2H
Statement
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
WMT US (Wal-Mart Stores Inc)

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UUID: 7947283