HALISTER: Tiffany, Jana Partners to Appoint Three Independent Directors

Tiffany, Jana Partners to Appoint Three Independent Directors

(Bloomberg) -- Tiffany board to expand to 13 directors from 10 with new additions.
  • New directors are Roger Farah (Tory Burch co-CEO), James Lillie (former CEO of Jarden) and Francesco Trapani (former CEO of Bulgari)
  • Trapani will join board’s nominating and corporate governance committee and search committee to oversee previously announced search for new CEO
  • Will also limit waivers under retirement age provisions; one current director won’t stand for reelection at 2017 shareholder meeting and two current directors won’t stand for reelection at 2018 meeting
  • NOTE: TIF on Feb. 17 closed at highest since August 2015
  • NOTE: Feb. 6, TIFFANY STREET WRAP: CEO Resigns, Estimates Called ‘Optimistic’
Statement Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
746225Z US (JANA Partners LLC)
TIF US (Tiffany & Co)
3351621Z US (Tory Burch LLC)

People
James Lillie (Jarden Corp)
Roger Farah (Tory Burch LLC)
Francesco Trapani (Francesco Trapani Srl)

Topics
Management Changes
Who's News - People

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UUID: 7947283

(2) *TIFFANY, JANA PARTNERS IN PACT TO ADD 3 INDEPENDENT DIRECTORS

*TIFFANY, JANA PARTNERS IN PACT TO ADD 3 INDEPENDENT DIRECTORS

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

Tickers
746225Z US (JANA Partners LLC)
TIF US (Tiffany & Co)

People
Barry Rosenstein (JANA Partners LLC)
Francesco Trapani (Francesco Trapani Srl)
James Lillie (Jarden Corp)
Mark Aaron (Tiffany & Co)
Michael Kowalski (Tiffany & Co)

Topics
Management Changes
Who's News - People

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UUID: 7947283

HALISTER: Home Depot FY EPS View Trails Est.

Home Depot FY EPS View Trails Est.

(Bloomberg) -- Home Depot
  • Sees FY EPS $7.13, est. $7.16 (range $7.05-$7.33)
  • Sees FY comp. sales +4.60%
  • Sees FY rev. growth +4.60%
  • 4Q EPS $1.44, est. $1.33 (range $1.31-$1.37)
  • 4Q comp. sales +5.8%
  • 4Q net sales $22.2b, est. $21.8b (range $21.6b-$22.1b)
  • 4Q U.S. comp. sales +6.3%, est. +3.5% (Consensus Metrix, average of 28)
  • 4Q average ticket sales $60.65
  • 4Q comp sales +5.8%, est. 3.5%
  • $15b Share Buyback Authorization;
  • Sees Yr gross margin down About 15 Basis Points
  • Boosts Qtrly Div by 29%
  • Targeted Div Payout Ratio Will Be Increased From 50% to 55%
NOTE:
  • 22 buys, 11 holds, 0 sells before today
  • Call 9am (NY time), (913)-312-1944
Statement
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
HD US (Home Depot Inc/The)

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UUID: 7947283

HALISTER1: HSBC Under Investigation by FCA Over Money Laundering Failures

HSBC Under Investigation by FCA Over Money Laundering Failures

(Bloomberg) -- HSBC Holdings Plc is under investigation by the U.K. regulator over money laundering and financial crime controls, according to the bank’s annual report.
  • HSBC made the disclosure Tuesday
  • Stuart Gulliver, HSBC chief executive officer, told reporters on a call the bank is facing possible fines
  • “As we’ve increased the quality of our controls we’ve obviously been able to identify more bad actors within the 37 million customer base,” said Gulliver. “The nature of such a large client base is as you dig into it and tighten it up you will find these kind of things”
  • The bank is already subject to a number of agreements with U.K. and U.S. authorities entered into in December 2012 related to inadequate compliance measures
  • NOTE: HSBC Misses Profit Estimates on Revenue Drop, Deepens Cost Cuts
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
HSBA LN (HSBC Holdings PLC)

People
Stuart Gulliver (HSBC Holdings PLC)

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UUID: 7947283

HALISTER1: Europe Asset Managers See Bond Inflows Double of Stocks: BofAML

Europe Asset Managers See Bond Inflows Double of Stocks: BofAML

(Bloomberg) -- European asset managers have had bond inflows double that of equities so far in 2017, despite expectations for rising yields and positive equity markets, BofAML analysts write in note.
  • Reflects client risk aversion from uncertain macro including Brexit, Europe elections, Trump, and structural trends
    • Higher bond yields are attractive for institutions seeking income and liability matching, while regulation is also supportive
  • Within bonds, high yield, investment grade and emerging market debt are preferred to government and other low-risk bonds
  • “Unless interest rates rise sharply in Europe and/or the macro outlook becomes clearer for equities, we think demand for fixed income will remain resilient”: BofAML
RELATED:
  • Feb. 17: Equity Funds See Largest Inflows in 9 Weeks, BofAML Says
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283