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MARKET CURRENTS

  • 4:29 PM GT Advanced Technologies (GTAT): FQ4 EPS of $0.65 misses by $0.06. Revenue of $354M (+30.3% Y/Y) misses by $39M. (PR) Comment! [Earnings]
  • 4:26 PM HollyFrontier (HFC) announces a special dividend of $0.50/share and a 50% increase in its quarterly dividend to $0.15 from $0.10/share. HFC +0.6% AH. Comment! [Energy]
  • 4:23 PM More on Red Robin Gourmet Burgers (RRGB): Q1 comes in mixed, beating on a per share basis but coming up short on revenue estimates. Total revenues were lackluster due to declining guest counts, but it bottom line results were helped by a boost in the average guest check, better operating profit margins and tighter expense management. Shares are volatile after hours, dropping nearly 8% immediately following the earnings report, but have since recovered and are currently trading 1.7% higher. Comment! [Earnings]
  • 4:23 PM As retail interest in the Facebook (FB) IPO hits a fever pitch, the company is increasing the number of shares available at the end of its IPO lockup period (lasts 91 days) by 96M to 268M. Of course, many institutional holders are using the IPO itself to cash out. Comment! [Tech]
  • 4:21 PM In one of the odder joint ventures out there, Toyota (TM) teams up with Nintendo (NTDOY.PK) to turn the Nintendo DS into a navigational tool. For a cool $3K bucks, a driver can buy Toyota's Smart Navi system to add a Super Mario experience to the simple function of driving around town. Comment! [Global & FX]
  • 4:19 PM Boyd Gaming (BYD) plans to acquire Peninsula Gaming for $1.45B in a deal that will add five new casino properties at locations in Iowa, Kansas, and Louisiana. Under the terms of the agreement, the company will make an additional payment in 2016 if the Kansas Star property's EBITDA exceeds $105M in 2015. Shares +0.9% AH. Comment! [M&A, Consumer]
  • 4:17 PM Spartan Stores (SPTN): FQ4 EPS of $0.40 beats by $0.01. Revenue of $614M (+7.6% Y/Y) misses by $16M. (PR) Comment! [Earnings]
  • 4:16 PM Cost Plus (CPWM): Q1 EPS of $0.01 beats by $0.05. Revenue of $215M (+7.5% Y/Y) beats by $2M. (PR) Comment! [Earnings]
  • 4:14 PM Jack in the Box (JACK): FQ2 EPS of $0.27 beats by $0.04. Revenue of $506.6M (+0.3% Y/Y) beats by $4M. (PR) Comment! [Earnings]
  • 4:13 PM As Internet IPO activity (headlined by you-know-who) heats up, M&A activity is cooling off. PwC believes only 9 Internet M&A deals were conducted in Q1, down from 20 in the year-ago period. For the tech sector overall, deal volume fell to 64 from 76 in the year-ago period, and 69 in Q4. However, average deal size rose to $452M from $330M. The decline in deal activity could prove a headache for bigger tech names that badly need to buy an upstart to shore up a product weakness. Comment! [Tech, M&A]
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ANALYSIS FOR WEDNESDAY, MAY 16, 4:25PM ET

DIA -0.06%
SPY -0.32%
QQQ -0.68%
GLD -0.18%

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