After a long waiting period, JPMorgan Chase & Co. (NYSE:JPM) has finally decided to sell out 50% stake in its private equity business, One Equity Partners. JPM has current equity holdings of $4.5 billion and the bargain for this sale is struck at $2 billion. The two companies purchasing One Equity’s half of the current…
The Blackstone Group L.P. (BX) Ready To Raise $1 Billion With Its Industrial IPO
The Blackstone Group L.P. (NYSE:BX) is geared up to raise $1 Billion by making its Industrial Property public in 2014. As per the current information, IndCor Properties Inc. is expected to be valued at $8 Billion, which will make it the largest industrial real estate investment trust in the United States. This is not the…
Finjan Holdings Was Up 17% During Pre-market Trading
Finjan Holdings Was Up 17% During Pre-market Trading.
The Progressive Corporation March Results: Strong PIF Growth, Good Accident Year Metrics Highlight March Earnings Beat
Progressive’s March results showed a marked improvement versus the first two months of the year, with the accident year loss ratio moving back to 69% from the 73% average over the first two months, and sequential growth accelerating across all key business segments.
Alliance Data Systems Corporation March Data Suggests Solid March-Quarter
Alliance Data Systems (ADS) reported monthly data for March; charge-offs and loan growth were modestly better than our expectations, and delinquencies were consistent with historical seasonal trends. In March, net charge-offs for the managed portfolio rose 10 basis points month-to-month, to 4.7%, and 30-day-plus delinquencies fell 40 basis points month-to-month, to 3.9%. For the March…
Luxottica Signs New License Agreement With Michael Kors
Luxottica and Michael Kors announced a new exclusive 10-year license agreement under which Luxottica will design, manufacture, and distribute prescription frames and sunglasses for Michael Kors beginning spring 2015. Michael Kors had previously worked with smaller eyewear manufacturer Marchon since 2004. The agreement is positive for both Luxottica and Michael Kors. With regard to Luxottica,…
MSC Industrial Direct EPS Miss Widely Expected
Based on weather-driven sluggishness throughout January and February, analysts expect fiscal second-quarter EPS below consensus of $0.86. The midpoint of management’s EPS guidance ($0.83-$0.87) assumed a return to October/November sales growth (5%) in January and February after a slowdown in December (3%). Considering peer results and our surveys, we now believe January organic growth was…
CMS Revises Price to $2,200 from $1,500
Shortly before the markets closed Tuesday, CMS published its response to comments received during the January/February comment period related to the 48% price cut in CPT code 81211. Based on comments received, CMS opted to revise the price upward to $2,200. After the broad 0.75% reduction to the Medicare Clinical Lab Fee Schedule in 2014,…
Harvest Capital Credit Corporation Portfolio Still in Ramp-Up Mode
Harvest’s portfolio consisted of 21 different companies, up from 15 in the prior quarter. Second lien senior secured made up 53% of the portfolio and 44% was first lien senior secured. Equity and royalty securities accounted for the remaining 3%. The first lien senior secured mix is up from 39% in the prior quarter, mostly…
HD Supply Reported fourth-quarter Financial Results
HD Supply Reported fourth-quarter Financial Results