WALL STREET - FOCUS
APPLE
Berkshire Hathaway acquired nearly 75 million Apple shares in the first quarter, as reported by its founder, Warren Buffett, when the quarterly accounts were released in early May. He now owns approximately 239.5 million shares in the apple firm according to the 13F-HR report issued to the SEC. Berkshire Hathaway thus becomes the second largest shareholder of Apple with about 5% of the capital.
AT & T / TIME WARNER
AT & T reaffirmed, through its CEO Randall Stephenson, that the acquisition and integration of Time Warner was the top priority of 2018. The group is awaiting the decision of the US Department of Justice for June 12. For the rest, AT & T is focusing on the continued roll-out of its Gigabit network in the United States and the strengthening of its video offering under the DirecTV brand. In addition, Stephenson highlighted the significant development potential in advertising that will come with the acquisition of Time Warner.
INTERNATIONAL PAPER
International Paper said it would not launch a hostile takeover bid on Irish paper-based packaging producer Smurfit Kappa. The latter thought that the proposed price of 9.5 billion euros undervalued it and that the operation had, in any case, no strategic sense. International Paper had until June 6 to submit a binding offer.
MACY'S
Macy's has raised its expected adjusted earnings per share range by 20 cents for this year to $ 3.75 / $ 3.95. In addition, its annual sales are expected at the worst down 1% and at best growth of 5%. On a like-for-like basis, they should increase by 1 to 2%. Previously, Macy's had stable sales or growth of 1% on a comparable basis. Its total sales are expected to increase by 0.5 to 2%.
OFFICE DEPOT
Office Depot has reaffirmed its 2018 forecast of approximately $ 10.8 billion in revenue, of which approximately 14% will be derived from services. On the occasion of an investor day dedicated to the transformation plan that it is deploying, Office Depot has also unveiled its stable sales targets or growth of 2% in 2019 and 2020, of which about 20% will be drawn services. The challenge for Office Depot is to move from being a distributor of office supplies to a provider of IT and digital services.
STARBUCKS
Starbucks has announced plans to build 600 new stores a year in China over the next five years at an investor conference on the country. This growth should enable it to double the number of stores in China compared to the end of 2017. By 2022, Starbucks would own 6,000 cafés in 230 cities. During the same period, the American group forecasts revenues multiplied by more than three and operational results more than doubled in this country.
TESLA
SolarCity, Tesla's energy subsidiary, has reportedly lost two executives, according to reports reported last night by Bloomberg. It would be Arch Padmanabhan, product manager of the storage segment, and Bob Rudd, former vice president of SolarCity, who was in charge of a sales department for North America. These departures come in a difficult period for the American Tesla, which seeks to increase the rate of production of its Model 3, a vehicle critical to the profitability of the group.
TEVA
Berkshire Hathaway, led by the "Omaha Oracle", Warren Buffet, more than doubled its stake in Teva. Tuesday evening, at the close of Wall Street, the conglomerate announced to hold 40.5 million Teva shares, or 3.45% stake in the Israeli manufacturer of generics.
Berkshire Hathaway acquired nearly 75 million Apple shares in the first quarter, as reported by its founder, Warren Buffett, when the quarterly accounts were released in early May. He now owns approximately 239.5 million shares in the apple firm according to the 13F-HR report issued to the SEC. Berkshire Hathaway thus becomes the second largest shareholder of Apple with about 5% of the capital.
AT & T / TIME WARNER
AT & T reaffirmed, through its CEO Randall Stephenson, that the acquisition and integration of Time Warner was the top priority of 2018. The group is awaiting the decision of the US Department of Justice for June 12. For the rest, AT & T is focusing on the continued roll-out of its Gigabit network in the United States and the strengthening of its video offering under the DirecTV brand. In addition, Stephenson highlighted the significant development potential in advertising that will come with the acquisition of Time Warner.
INTERNATIONAL PAPER
International Paper said it would not launch a hostile takeover bid on Irish paper-based packaging producer Smurfit Kappa. The latter thought that the proposed price of 9.5 billion euros undervalued it and that the operation had, in any case, no strategic sense. International Paper had until June 6 to submit a binding offer.
MACY'S
Macy's has raised its expected adjusted earnings per share range by 20 cents for this year to $ 3.75 / $ 3.95. In addition, its annual sales are expected at the worst down 1% and at best growth of 5%. On a like-for-like basis, they should increase by 1 to 2%. Previously, Macy's had stable sales or growth of 1% on a comparable basis. Its total sales are expected to increase by 0.5 to 2%.
OFFICE DEPOT
Office Depot has reaffirmed its 2018 forecast of approximately $ 10.8 billion in revenue, of which approximately 14% will be derived from services. On the occasion of an investor day dedicated to the transformation plan that it is deploying, Office Depot has also unveiled its stable sales targets or growth of 2% in 2019 and 2020, of which about 20% will be drawn services. The challenge for Office Depot is to move from being a distributor of office supplies to a provider of IT and digital services.
STARBUCKS
Starbucks has announced plans to build 600 new stores a year in China over the next five years at an investor conference on the country. This growth should enable it to double the number of stores in China compared to the end of 2017. By 2022, Starbucks would own 6,000 cafés in 230 cities. During the same period, the American group forecasts revenues multiplied by more than three and operational results more than doubled in this country.
TESLA
SolarCity, Tesla's energy subsidiary, has reportedly lost two executives, according to reports reported last night by Bloomberg. It would be Arch Padmanabhan, product manager of the storage segment, and Bob Rudd, former vice president of SolarCity, who was in charge of a sales department for North America. These departures come in a difficult period for the American Tesla, which seeks to increase the rate of production of its Model 3, a vehicle critical to the profitability of the group.
TEVA
Berkshire Hathaway, led by the "Omaha Oracle", Warren Buffet, more than doubled its stake in Teva. Tuesday evening, at the close of Wall Street, the conglomerate announced to hold 40.5 million Teva shares, or 3.45% stake in the Israeli manufacturer of generics.
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