HALISTER: Michael Kors Profit Tops Estimates as New Products Draw Shoppers

Michael Kors Profit Tops Estimates as New Products Draw Shoppers

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
KORS US (Michael Kors Holdings Ltd)

People
Erinn Murphy (Piper Jaffray Cos)
Ike Boruchow (Wachovia Securities Inc)
Lupine Skelly (Wedbush Securities Inc)
Michael Linenberg (Deutsche Bank AG)
Morry Brown (Wedbush Securities Inc)

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UUID: 7947283

HALISTER: Salesforce to Buy Demandware for $75/Shr in Cash

Salesforce to Buy Demandware for $75/Shr in Cash

(Bloomberg) -- Deal worth ~$2.8b net of cash; CRM sees deal adding $100m-$120m to fiscal 2017 total revenue.
  • Closing seen in CRM’s fiscal 2Q, ending July 31
Statement:Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
DWRE US (Demandware Inc)
CRM US (salesforce.com Inc)
ALCRM FP (CRM Co)

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UUID: 7947283

(2) *SALESFORCE TO BUY DEMANDWARE FOR $75.00/SHR IN CASH

*SALESFORCE TO BUY DEMANDWARE FOR $75.00/SHR IN CASH

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

Tickers
DWRE US (Demandware Inc)
CRM US (salesforce.com Inc)
ALCRM FP (CRM Co)

People
Marc Benioff (salesforce.com inc)
Thomas Ebling (Demandware Inc)

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UUID: 7947283

HALISTER: Munich Re to Spend $1.1 Billion on Primary Insurance Revamp

Munich Re to Spend $1.1 Billion on Primary Insurance Revamp

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
MUV2 GR (Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen)

People
Andree Moschner (ERGO Versicherungsgruppe AG)
Joerg Schneider (Meag Munich Ergo Kag)
Markus Riess (Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen)
Nikolaus Bomhard (Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen)

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UUID: 7947283

HALISTER: UniCredit at Session Lows, KBW Sees Too Many Challenges

UniCredit at Session Lows, KBW Sees Too Many Challenges

(Bloomberg) -- UniCredit drops 4.1% as of 11:33am CET with volume more than half of 3-month daily average; KBW cuts to underperform vs market perform with PT lowered to EU3.14 vs EU5.12.
  • Brokerage says shares not cheap if capital gap (estimated at EU7.5b) needs to be closed by YE
  • Also says bank needs to do more to improve its sustainable RoTE; getting to 10% would require cutting an extra ~20% of costs with no revenue impact
  • Concerned governance will continue to be too restrictive
  • Earlier: Popular May Lead to Some Read-Across; Goldman Weighs Exposures
  • May 25 UNICREDIT STREET WRAP: Discontinuity in Focus as CEO Steps Down
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
UCG IM (UniCredit SpA)

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UUID: 7947283

HALISTER: Accor Drops; Market May See French Strikes Hurting Hotel Demand

Accor Drops; Market May See French Strikes Hurting Hotel Demand

(Bloomberg) -- Accor drops as much as 3.2%, biggest decliner in the Stoxx 600 Travel and Leisure index, vol. 52% of 3-month daily avg.
  • Stock decline may be tied to the French rail strike and press reports that travelers may avoid France, Raymond James leisure analyst Julien Richer says in e-mail (rates Accor strong buy - PT EU46)
    • France is Accor’s biggest market at 31% of sales
    • Based on comments in French press June 1, hotel revpar in France is down significantly in past week due to strikes
    • Investors may think strikes will weigh on France leisure demand during key summer season
  • Shooting star set-up formed on the daily candles on Monday, signaling the start of a bearish reversal
    • Stock has since broken its 200-DMA, 50-DMA to the downside, 100-DMA is below at EU37.03
  • NOTE: Euro 2016 soccer tournament begins in France on June 10
  • NOTE May 30: Paris Tourism Recovery Threatened by Protests Actions: Agency
  • NOTE April 19: Accor said in France a favorable calendar in May and the start of the Euro 2016 in June should put growth back in positive territory in 2Q
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
AC FP (Accor SA)

People
Julien Richer (Raymond James & Associates Inc)

Topics
France Football

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UUID: 7947283

HALISTER: AIG Said to Market Euro Bonds as ECB Corporate Bond Buying Nears

AIG Said to Market Euro Bonds as ECB Corporate Bond Buying Nears

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
AIG US (American International Group Inc)
2539Z GR (European Central Bank)
INGA NA (ING Groep NV)

People
Jeroen Van Den Broek (ING Groep NV)
Mario Draghi (European Central Bank)

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UUID: 7947283