Halister News

(Bloomberg) -- Order for bendable OLEDs revealed by person in the supply chain familiar with iPhone 8 design, Nikkei reports.

• In line with est. by IHS Markit Senior Director David Hsieh
• Samsung declined to comment to Nikkei
• Apple expected to have 3 sizes of iPhone 8 models, only one with curved screen
• All three to be waterproof and come with wireless charging functions
• NOTE: March 15, Some IPhone 8s Said to Feature Samsung’s Curved Screens, Nikkei Reports

(Bloomberg) -- Stage Stores upgraded to accumulate from hold by Johnson Rice & Co. analyst David Mann, who writes in note that SSI’s acquisition of 50 Gordmans locations (option for additional 7 and distribution center) will add “cash flow at an attractive discount.”

• SSI is getting the best locations, as well as more geographic, operating (off-price) diversity to balance against its existing challenges in energy, border markets
• Though deal does not resolve SSI’s structural challenges, it does improve near-term cash flow outlook, provides more support to dividend (23%+ yield)
• Sees stores adding $275m-$300m in rev., that would be 20%+ addition to Johnson Rice’s FY18 (year ended Jan. 2017) estimate
  • Estimates these stores generate low-to-mid teens Ebitda margin
• SSI had been up as much as 3.9% before erasing loss along with market decline
• Before today, SSI had 1 buys, 2 holds, 1 sell; avg PT $2.25: Bloomberg data

(Bloomberg) -- Following are forecasts for today’s U.S. economic releases as compiled by Bloomberg News:

• ISM Manu 57.2; range 55 to 61 (77 estimates)
• ISM Prices 66; range 64 to 69 (6 estimates)
• • In February, the ISM index advanced to 57.7, the highest since August 2014, with manufacturers reporting improved orders and production
  • The index "still stands below post-crisis highs and has room to run in our view following its retrenchment since the oil shock": TD Securities
• Const. Spend 1% m/m; range -0.5% to 2% (45 estimates)
• • In January, construction spending declined for the first time in four months, falling 1 percent