HALISTER1: INDIA RATINGS: Universal Constructions Cut; Xoriant Raised

INDIA RATINGS: Universal Constructions Cut; Xoriant Raised

(Bloomberg) -- Here’s a roundup of Indian co. debt-rating changes.
  • To get this story sent to your inbox real-time, run NI INRATINGS , click on Display & Edit, then Set Alert Delivery
DOWNGRADE
  • Universal Constructions
    • Long-term bank facilities cut to D from B at Crisil
    • Cites instances of delay in debt servicing owing to weak liquidity
UPGRADE
  • Xoriant Solutions
    • LT bank facilities raised to BBB+ from BBB at Crisil
    • Cites strong revenue growth, steady profitability
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: Kiwi’s Year High in Play on Inflation, RBNZ’s Silence: Analysis

Kiwi’s Year High in Play on Inflation, RBNZ’s Silence: Analysis

(Bloomberg) -- RBNZ will be hard pressed in its monetary policy statement Thursday to avoid fueling further gains in kiwi, writes Bloomberg strategist Michael G. Wilson.
  • NZD/USD has risen above trend-line resistance connecting September and November highs, and has all but erased losses caused by USD’s rally after Trump’s unexpected election victory on Nov. 8
  • Kiwi has strengthened 5.2% this year against USD, while dropping 0.4% versus AUD, its major trading partner
  • Two-year-ahead inflation expectations jumped to 1.92% in Q1, highest since Q3 2015, according to survey of businesses published on Reserve Bank’s website Tuesday
  • Kiwi’s trade-weighted index is closing in on 80.52 peak seen in 2015; this should prompt a response from central bank, not doing so would send a bullish signal to the market that higher levels will be tolerated
  • RBNZ last referred to NZD and TWI in Nov. when it said weak global conditions and low interest rates relative to N.Z. were keeping upward pressure on kiwi
    • “The exchange rate remains higher than is sustainable for balanced economic growth and, together with low global inflation, continues to generate negative inflation in the tradables sector. A decline in the exchange rate is needed”
    • Since then both NZD and TWI have risen even further
  • Consumer inflation pressures are re-emerging, according to Treasury’s monthly economic indicators
    • Estimates show output gap is negative, but expected to rise, implying domestic price pressures will continue to build gradually
  • RBNZ will leave its benchmark at 1.75% Thursday, according to all 18 economists surveyed by Bloomberg
  • NZD/USD little changed at 0.7302 after climbing to 0.7376 Tuesday, approaching post-U.S. election high of 0.7393
    • A close above Nov. 8 high of 0.7403 would allow for an assault on September peak of 0.7486
  • NOTE: Michael G. Wilson is an FX strategist who writes for First Word. The observations he makes are his own.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

To de-activate this alert, click here

UUID: 7947283

HALISTER1: Contemplating Crime Doesn't Strip Privilege, 3rd Cir. Says

Contemplating Crime Doesn't Strip Privilege, 3rd Cir. Says

Alert: HALISTER1
Source: BNA (Bloomberg BNA)

Tickers
1005L US (United States Court of Appeals for the Third Circuit)

People
Anthony Scirica (United States Court of Appeals for the Third Circuit)
Scott Resnik (Katten Muchin Rosenman LLP)
Theodore McKee (United States Court of Appeals for the Third Circuit)
Thomas Ambro (United States Court of Appeals for the Third Circuit)
Todd Presnell (Bradley Arant Boult Cummings LLP/Montgomery AL)

To de-activate this alert, click here
To modify this alert, click here

UUID: 7947283

(2) *DISNEY'S IGER SAYS WILLING TO STAY AS CEO BEYOND CONTRACT

*DISNEY'S IGER SAYS WILLING TO STAY AS CEO BEYOND CONTRACT

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

Tickers
DIS US (Walt Disney Co/The)

People
Robert Iger (Walt Disney Co/The)

Topics
CEO Interviews

To de-activate the "HALISTER" alert, click here
To modify this alert, click here

To de-activate the "HALISTER1" alert, click here
To modify this alert, click here

UUID: 7947283

HALISTER: CORRECT: Disney 1Q Rev. Misses Est.

CORRECT: Disney 1Q Rev. Misses Est.

(Bloomberg) -- (Corrects to say millions in fourth bullet.)
  • Disney 1Q rev. $14.8b, est. $15.3b (range $14.8b-$15.6b)
  • 1Q adj. EPS $1.55
  • 1Q EPS $1.55
  • 1Q Cable Networks operating profit $864m, est. $1.08b (Bloomberg News)
    • 1Q Cable Networks rev. $4.43b, est. $4.51b
    • 1Q media networks rev. $6.23b, est. $6.38b
    • 1Q parks and resorts rev. $4.56b, est. $4.69b
    • 1Q studio entertainment rev. $2.52b, est. $2.55b
    • 1Q consumer/interactive rev. $1.48b, est. $1.70b
    • 1Q media networks operating income $1.36b, est. $1.31b
    • 1Q parks & resorts operating income $1.11b, est. $1.05b
    • 1Q studio entertainment operating income $842m, est. $881m
    • 1Q consumer/interactive operating income $642m, est. $682m
NOTE:
  • 22 buys, 11 holds, 3 sells before today
  • Call 4:30pm (NY time), (888)-771-4371 pw 44194756
Statement
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
DIS US (Walt Disney Co/The)

To de-activate this alert, click here

UUID: 7947283

HALISTER: Gilead 4Q Sovaldi Rev. Misses Est.; Shares Fall

Gilead 4Q Sovaldi Rev. Misses Est.; Shares Fall

(Bloomberg) -- Gilead 4Q Sovaldi rev. $541m, est. $595.8m (Bloomberg data)
  • 4Q adj. EPS $2.70, est. $2.61 (range $2.36-$2.87)
  • 4Q rev. $7.32b, est. $7.16b (range $6.66b-$7.62b)
  • 4Q Harvoni rev. $1.64b, est. $1.60b (Bloomberg News)
  • 4Q Truvada rev. $868m, est. $849.5m (Bloomberg data)
    • 4Q Epclusa Rev. $1.05b, est. $880.9m (average of 11)
    • 4Q Atripla rev. $607m, est. $610.4m (average of 13)
    • 4Q Genvoya rev. $563m, est. $559.1m (average of 10)
    • 4Q Stribild rev. $387m, est. $401.7m
    • 4Q Viread rev. $324m, est. $296.4m (average of 13)
    • 4Q Letairis rev. $226m, est. $210.1m
    • 4Q Ranexa rev. $210m, est. $172.3m
    • 4Q Zydelig rev. $39m, est. $41.2m (average of 13)
  • Sees FY17 product sales $22.5b to $24.5b
  • Sees Yr Hcv Product sales $7.5b-$9b
NOTE:
  • Shares down 3.6% since earnings release to $70.50 on 65,381 shares traded
  • 18 buys, 12 holds, 0 sells before today
  • Call 4:30pm (NY time), 877-359-9508 pw 43555238
Statement
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
GILD US (Gilead Sciences Inc)

To de-activate this alert, click here

UUID: 7947283