Research Desk Line-up: Reata Pharma Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Sorrento Therapeutics, Inc. (NASDAQ: SRNE), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SRNE. The Company announced on August 29, 2017, that its majority-owned subsidiary, SCILEX Pharmaceuticals, Inc., resubmitted the New Drug Application (NDA) and responded to all of US Food and Drug Administration (FDA) comments related to the initial NDA submission for its lead product candidate, ZTlido. ZTlido is a next-gen, non-opioid, lidocaine patch currently in development for the relief of pain associated with post-herpetic neuralgia (PHN), a severe neuropathic pain condition. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Biotechnology industry. Pro-TD has currently selected Reata Pharmaceuticals, Inc. (NASDAQ: RETA) for due-diligence and potential coverage as the Company announced on August 14, 2017, its financial results for Q2 2017 which ended on June 30, 2017 and also provided an update on its business and product development programs. Tune in to our site to register for a free membership, and be among the early birds that get our report on Reata Pharma when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SRNE; also brushing on RETA. Go directly to your stock of interest and access today’s free coverage at:

http://protraderdaily.com/optin/?symbol=SRNE

http://protraderdaily.com/optin/?symbol=RETA

ZTlido

According to the Company, ZTlido was specifically designed to have superior adhesion as compared to the US and EU reference products Lidoderm/Versatis in recognition that adhesion is critical to the safety, efficacy, and quality of a patch or medicated plaster pharmaceutical product. This case is especially crucial here for a patch or medicated plaster systems such as ZTlido and Lidoderm/Versatis where the drug is contained in the adhesive and must be in contact with the skin to deliver the drug.

The novel Technology, ZTlido, allows the ability to deliver a bioequivalent therapeutic dose of lidocaine for the treatment of PHN pain. However, it does so through a drug load of 36 mg/patch, against 700 mg/patch for Lidoderm and Versatis. This biopharmaceutic efficiency leads to an approximately 30-fold reduction in residual drug in ZTlido after use when compared to Lidoderm and Versatis, and can significantly reduce safety risk to children and pets, and present less drug waste when discarded after use.

The Adhesion Study

On June 14, 2017, SCILEX, a Sorrento-subsidiary, announced that its lead investigational product, ZTlido demonstrated superior adhesion versus the EU reference product, Versatis, during a recently executed comparative adhesion performance study. The data presented complemented a previous clinical adhesion study performed to support the NDA submission for ZTlido in the US, where greater than 90% of the subjects demonstrated greater than 90% adhesion over the administration period of 12 hours, using the FDA recommended 5-point scale.

The adhesion study was designed and carried out as an open label, three-period, single-patch application, adhesion performance study of ZTlido versus Versatis. The study was completed in 44 healthy volunteers, where they were assessed for adhesion at 0, 3, 6, 9, and 12 hours respectively. Adhesion was scored using The European Medicines Agency (EMA) scale ranging from a score of 6 being greater than 95% adhesion and a score of 0, where greater than 70% adhesion represented significant adhesion failure. ZTlido demonstrated superior adhesion as compared to Versatis with a mean adhesion score of 5.35 versus 3.59 for Versatis (p<0.001). After the 12-hour dosage period, ZTlido had a mean adhesion score of 5.006 while Versatis had a mean adhesion of 2.268.

The Announcement

Sorrento announced that the state-of-the-art manufacturing technology used for ZTlido production enabled high drug delivery efficiency with strong adhesive properties. The NDA, subject to being accepted by the FDA, will go through a review process which could be 6 months. If approved, ZTlido could be ready for commercial launch in the US in 2018. The Company also plans to submit a marketing authorization application (MAA) for ZTlido in Europe in Q4 2016. According to the Company, the total full-year 2016 sales of currently approved prescription lidocaine patches in the US and Europe were about $750 million, where it expects ZTlido to be a significant player in the market.

Last Close Stock Review

At the closing bell, on Wednesday, August 30, 2017, Sorrento Therapeutics’ stock surged 10.77%, ending the trading session at $1.80. A total volume of 1.11 million shares have exchanged hands, which was higher than the 3-month average volume of 902.83 thousand shares. The Company’s stock price rallied 16.13% in the last three months. The stock currently has a market cap of $133.72 million.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 474266

Research Desk Line-up: Eaton Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on The Middleby Corp. (NASDAQ: MIDD) (“Middleby”), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=MIDD, following the Company’s posting of its second quarter financial results on August 09, 2017. The food preparation equipment Company’s operating income increased by 9.1%. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Diversified Machinery industry. Pro-TD has currently selected Eaton Corporation PLC (NYSE: ETN) for due-diligence and potential coverage as the Company announced on August 01, 2017, its financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on Eaton when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MIDD; also brushing on ETN. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=MIDD

http://protraderdaily.com/optin/?symbol=ETN

Earnings Reviewed

Middleby’s net sales were $579.34 million for the second quarter 2017 compared to net sales of $580.46 million for Q2 2016. The Company stated that sales related to recent acquisitions added $29.2 million, or 5.0%, in the reported quarter, while the impact of foreign exchange rates on foreign sales translated into US Dollars reduced net sales by approximately $10.7 million, or 1.8%. Middleby’s revenue numbers missed analysts’ expectations of $587 million.

During Q2 2017, Middleby’s gross profit increased to $234.6 million from $233.5 million. The Company’s gross margin rate increased to 40.5% in the reported quarter from 40.2% in the prior year’s comparable quarter; reflecting an improvement in profitability for both the Food Processing Equipment Group and the Residential Kitchen Equipment Group, due to the favorable impact of restructuring initiatives at the AGA group.

For Q2 2017, Middleby’s operating income increased 9.1% to $122.1 million from $111.9 million in Q2 2016. For the reported quarter, the Company’s operating income included $11.5 million of restructuring charges related to cost reduction initiatives, which were associated primarily with AGA. Additionally, the Company realized a $12.0 million gain on the sale of a manufacturing facility in connection with the relocation to an upgraded facility which will allow for improvement in production efficiencies and consolidation of certain operations.

During Q2 2017, Middleby’s non-cash expenses included in operating income amounted to $20.9 million, including $7.4 million of depreciation, $10.5 million of intangible amortization, and $3.0 million of non-cash share based compensation.

Middleby’s net earnings were $77.57 million, or $1.35 per share, for Q2 2017 compared to $72.89 million, or $1.28 per share, in Q2 2016. In the reported quarter, the Company’s net earnings were reduced by restructuring expenses and non-cash expenses associated with the finalization of purchase accounting adjustments for Follett, and offset by the gain on sale of a manufacturing facility. The impact of these items reduced earnings per share by $0.04 in Q2 2016. Middleby’s earnings, adjusted for non-recurring costs, were $1.39 per share and came in ahead of Wall Street’s estimates of $1.38.

Segment Results

Middleby’s net sales from the Commercial Foodservice Equipment Group grew 4.0% to $333.8 million compared to $321.0 million in Q2 2016. During the fiscal year 2016, the Company completed the acquisition of Follett. Excluding the impact of this acquisition, sales decreased by 4.4% in the reported quarter, or 3.3% excluding the impact of foreign exchange.

For Q2 2017, Middleby’s net sales from the Food Processing Equipment Group advanced 10.7% to $92.4 million compared to $83.5 million in Q2 2016. During the fiscal year 2017, the Company completed the acquisition of Burford. Excluding the impact of this acquisition, Middleby’s sales increased by 8.0% in Q2 2017, or 8.5% excluding the impact of foreign exchange.

During Q2 2017, Middleby’s net sales from Residential Kitchen Equipment Group decreased 13.0% to $153.2 million compared to $176.0 million in Q2 2016. Excluding the impact of foreign exchange, sales decreased 9.1% in the reported quarter.

Cash Matters

Middleby’s net debt, defined as debt less cash, amounted to $738.4 million at the end of Q2 2017 compared to $663.6 million at the end of the fiscal year 2016. The Company’s debt reflected the funding of the Burford, CVP Systems, and Sveba Dahlen acquisitions completed in the reported quarter.

Stock Performance

At the close of trading session on Wednesday, August 30, 2017, Middleby’s stock price slightly declined 0.01% to end the day at $118.99. A total volume of 749.74 thousand shares were exchanged during the session, which was above the 3-month average volume of 502.82 thousand shares. The Company’s shares are trading at a PE ratio of 22.30. At Wednesday’s closing price, the stock’s net capitalization stands at $6.78 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 474269

LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for The Advisory Board Co. (NASDAQ: ABCO) (“ABCO”), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ABCO. The Company announced on August 29, 2017, that it has entered into a definitive merger agreement to sell its health care business to Optum and a definitive purchase agreement to sell its education business to affiliates of Vista Equity Partners. Optum is a leading information and technology-enabled health services business, which is a part of the UnitedHealth Group (NYSE: UNH) while Vista Equity Partners is a US-based investment firm. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ABCO; also brushing on UNH. Go directly to your stock of interest and access today’s free coverage at:

http://protraderdaily.com/optin/?symbol=ABCO

http://protraderdaily.com/optin/?symbol=UNH

Merger of Healthcare Business to Follow Acquisition of Education Business

Firstly, the affiliates of Vista will acquire ABCO’s education business, including Royall & Company, for an approximate value of $1.55 billion, subject to customary adjustments.

Post the closing of the transaction for the education business, ABCO’s healthcare business will merge with Optum for about $1.3 billion, including the assumption of The Advisory Board Co.’s debt.

Transaction Value and Payout for stockholders

It is expected that ABCO’s stockholders would receive an estimated $54.29 per share in cash. This includes a fixed amount of $52.65 per share, and after-tax value (at closing) of ABCO’s 7.6% stake in Evolent Health Inc., estimated as of August 28, 2017. The additional amount could vary between signing and closing.

The cash consideration of @54.29 represents nearly 50% premium on the closing price of ABCO’s common stock on the NASDAQ as on January 11, 2017. This was the last trading day before making a public disclosure of a significant minority investment in the Company.

The total merger value is estimated at around $2.58 billion, including the after-tax proceeds for the sale of the education business.

Transactions to Create Immediate Value for Stockholders

Robert Musslewhite, Chairman and Chief Executive Officer of ABCO shared his views on these transactions. He stated that ABCO’s Board of Directors and executive leadership team had conducted a thorough review of strategic alternatives for the Company. They had decided upon these transactions with Optum and Vista Equity Partners after careful considerations. These would enable the Company to boost the success of its healthcare and education business and create immediate value for stockholders. He believes this to be the best course of action for ABCO’s stockholders, members as well as employees. In fact, he said that this move is a testament to their employees’ commitment, dedication, and hard work in continuing to deliver outstanding value to customers.

About the Health Care Merger

Advisory Board is the health care business of The Advisory Board Company. It is a best practices firm, which uses a combination of research, technology, and consulting to enhance the performance of over 4,400 health care organizations.

Strategic Rational for the Deal

The industry-leading independent research, strategic health care advisory services and strong analytic capabilities of ABCO will compliment Optum’s product and services, all for the benefit of their healthcare stakeholders.

Moreover, Optum’s extraordinary data analytics resources and operational expertise in delivering large-scale solutions and its investment capital will fortify ABCO’s offerings. It will also help ABCO expand into new health care markets.

The merger brings together best-practice solutions with a comprehensive health care focused advisory business. Thus, the combined organization would improve the healthcare system by assisting its clients in swiftly responding to changing market dynamics.

As per the agreement, Optum would enhance the range, impact and value of ABCO’s research for its members, while offering a greater range of advisory and technology capacities to its members. Larry Renfro, Optum’s CEO, announced that together, ABCO and Optum would provide greater strategic insights and practical operational value to their clients, who are always looking for ways of enhancing health care and responding to the changing market dynamics. Robert Musslewhite, ABCO’s CEO, will continue to lead its health care advisory business.

Transaction Closing Conditions

As of now, ABCO’s Board of Directors has unanimously approved the merger agreement and has also suggested that the Company’s stockholders adopt the merger agreement. The deal is also subject to the satisfaction or waiver of certain other closing conditions such as the US antitrust clearance and the closing of the sale of the education business.

It is expected that the merger would close by the end of 2017 or in early 2018, although it is contingent on the approval of the Company’s stockholders. However, the merger is not subject to any financing condition.

Nonetheless, Elliott Management has agreed to vote its shares in support of the merger at the upcoming stockholder meeting.

About the Sale of Education Business

EAB is the education business of The Advisory Board Co. It is a best practices firm, which uses a combination of research, technology and services to enhance the performance of over 1,200 educational institutions.

Strategic Rational for the Deal

After the acquisition by Vista Equity Partners Portfolio Company, EAB will continue to operate as a standalone business dedicated to serving the interests of its members. In fact, the acquisition will enhance EAB’s capability to realize growth opportunities in the dynamic industry.

Vista Equity Partners has substantial experience in building and growing strong and durable businesses, coupled with deep knowledge of the education industry. More often than not, it invests in businesses with an established customer base, high customer retention, superior return on investment, and strong recurring revenue, led by experienced management teams with a long-term perspective.

Transaction Closing Conditions

It is expected that the sale of the education business would close by end of 2017 or in early 2018.

As of now, the transaction is subject to the satisfaction or waiver of certain closing conditions, such as US antitrust clearance.

Also, the ABCO’s obligation to close sale of the education business is subject to the satisfaction of the closing conditions under the merger agreement.

The sale of the education business is not subject to any financing condition and does not require approval of the Company’s stockholders.

Last Close Stock Review

Advisory Board’s share price finished yesterday’s trading session at $53.10, marginally advancing 0.09%. A total volume of 3.04 million shares have exchanged hands, which was higher than the 3-month average volume of 744.61 thousand shares. The Company’s stock price surged 1.34% in the last three months, 17.22% in the past six months, and 25.86% in the previous twelve months. Additionally, the stock skyrocketed 59.70% since the start of the year. Shares of the Company have a PE ratio of 20.05 and currently have a market cap of $2.17 billion.

On Wednesday, August 30, 2017, the stock closed the trading session at $195.88, marginally down 0.43% from its previous closing price of $196.73. A total volume of 1.48 million shares have exchanged hands. UnitedHealth’s stock price soared 9.08% in the last three months, 17.08% in the past six months, and 43.11% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 22.39%. The stock is trading at a PE ratio of 23.55 and has a dividend yield of 1.53%. At Wednesday’s closing price, the stock’s net capitalization stands at $189.77 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 474267

Research Desk Line-up: Ulta Beauty Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 31, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for The Michaels Cos., Inc. (NASDAQ: MIK) (“Michaels”), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MIK. The Company announced on 29 August, 2017, that it would hire for over 15,000 seasonal positions across its US and Canadian stores and distribution centers this holiday season. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Specialty Retail, Other industry. Pro-TD has currently selected Ulta Beauty, Inc. (NASDAQ: ULTA) for due-diligence and potential coverage as the Company announced on August 24, 2017, its financial results for Q2 2017 which ended on July 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Ulta Beauty when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MIK; also brushing on ULTA. Go directly to your stock of interest and access today’s free coverage at:

http://protraderdaily.com/optin/?symbol=MIK

http://protraderdaily.com/optin/?symbol=ULTA

The Company had seasonal hiring last year as well, wherein over 50% of the seasonal positions transitioned to regular roles after the holidays.

Hiring for the Holidays

Bryan Venberg, Executive Vice President of Human Resources and Stores at Michaels, expressed his views about this seasonal hiring. He stated that at Michaels, they believe that anyone can make something great, including decisions about where they choose to work.

He further added that Michaels Team Members work hard and have fun simultaneously while they assist customers in turning their inspiration and creativity into reality. This becomes even more critical during the holiday season, and thus the Company is hiring over 15,000 seasonal Team Members. These additional members would help Michaels’ customers in making their holiday projects come to life.

Being a Michaels Team Member

Being a Michaels Team Member has its own perks. A seasonal Team Member can expect the following:

Seasonal Michaels Team Members receive competitive wages, flexible schedules, as well as a 30% discount in a creative atmosphere. This makes working fun for most.
Being a part of the Michaels store team is a once in a lifetime experience filled with hard work, creativity, and teamwork. Each and every team member is supposed to help customers create something amazing, which is not a small task.

Online Applications

These additional 15,000 positions are being offered in 1,366 stores across 49 states in the US and Canada. Interested candidates can visit the online page Michaels.com/storejobs for further information about the position as well as for applying online.

Michaels Reported Financial Results for 2nd Quarter

Michaels reported financial results on August 24, 2017, for its 2nd quarter ending July 29, 2017.

For this quarter, net sales increased 1.2%, or 1.3% on a constant currency basis, to $1,072.6 million from $1,060.4 million in the second quarter of the fiscal year 2016. This increase can be attributed to the operation of 10 additional stores during the quarter.
At the same time, comparable store sales increased 0.6%, or 0.8% on a constant currency basis. This was led by an upsurge in customer transactions, which was partially offset by a decline in average ticket.
Similarly, gross profit rose 3.0% to $402.5 million from $390.7 million in the second quarter of the fiscal year 2016. Operating income increased 1.0% to $88.0 million, or 8.2% of sales, compared to $87.1 million, or 8.2% of sales, in the second quarter of the fiscal year 2016. However, net income remained flat at $35.6 million.
Diluted earnings per share increased from $0.17 in the second quarter of fiscal 2016 to $0.19 in Q2 FY17; representing an increment of 11.8%.

Future Outlook

Chuck Rubin, Chairman and Chief Executive Officer at Michaels, believes that sales and profitability trends will continue to improve for the rest of the year as the Company pursues its Vision 2020 strategy, while customers continue to respond positively to the enhancements being made to offer more value, more trend-right product, and a more integrated, omni channel experience. Thus, the Company anticipates that it would continue to deliver profitable growth and further expand its leadership in the arts and crafts channel.

Last Close Stock Review

On Wednesday, August 30, 2017, the stock closed the trading session at $22.39, slightly rising 0.13% from its previous closing price of $22.36. A total volume of 1.03 million shares have exchanged hands. Michaels Cos.’ stock price rallied 10.46% in the last one month, 12.29% in the past three months, and 9.70% in the previous six months. Furthermore, since the start of the year, shares of the Company have gained 9.49%. The stock is trading at a PE ratio of 11.83 and currently has a market cap of $4.10 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 474268

LONDON, UK / ACCESSWIRE / August 31, 2017 / Norcros (LSE:NXR) has continued to deliver against our expectations and AGM comments reinforce expectations of progress. The strategy of building a larger complementary business portfolio has been executed well to date and the company retains the financial flexibility to continue this process. Such activity may provide a catalyst for a re-rating but there is already scope for this to happen in our view.

Norcros’s share price has largely traded within the 150-180p range over the last 18 months or so. It is currently 11% below the level at the end of 2016 and has underperformed the FTSE All Share Index by almost 30% as a result. Our estimates have remained robust throughout and, consequently, the company’s current year P/E and EV/EBITDA (adjusted for pensions cash) have compressed to 6.6x and 4.0x, respectively. Business prospects are somewhat better than the rating suggests in our view and a prospective 4.4% dividend yield enhances total return potential.

Click here to view the full report.

All reports published by Edison are available to download free of charge from its website.

www.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors, and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorized and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Toby Thorrington, +44 (0)20 3077 5721

Roger Johnston, +44 (0)20 3077 5722

industrials@edisongroup.com

Learn more at www.edisongroup.com and connect with Edison on:

LinkedIn https://www.linkedin.com/company/edison-investment-research

Twitter www.twitter.com/Edison_Inv_Res

YouTube www.youtube.com/edisonitv

SOURCE: Edison

ReleaseID: 474289