Apache’s cash flow In 4Q16, Apache (APA) reported CFO (cash flow from operations) of $796 million, ~22% higher than its CFO in 3Q16. Apache’s free cash flow trends Apache’s FCF…
On March 21, 2017, at the Citi European & Emerging Telecoms Conference, Neville Ray, T-Mobile’s chief technology officer, resurrected the idea of a possible merger.
Sunoco LP’s (SUN) retail business will become a small part of its overall offering following the completion of its announced convenience store divestitures.
On April 6, 2017, Sunoco (SUN) announced the sale of 1,110 convenience stores to 7-Eleven in a deal valued at $3.3 billion.
MLPs had a good start to 2017 in terms of M&A activity. The sector saw deals amounting to $27.6 billion in the first two months of the year.
As of April 5, 2017, Panera was trading at a forward PE multiple of 38.8x—compared to 32.6x before the acquisition rumor started to surface on April 3.
On April 5, JAB Holding agreed to buy Panera Bread for $7.5 billion. It agreed to pay $315 per share. JAB will also take on $340 million of Panera’s debt.
Airline financials improved drastically in the past three years. Frontier Airlines’ IPO seems to be hitting the market at the right time for its investors.
One of the major risks to Frontier Airlines is the fact that almost 45% of its flights originate from a single hub—Denver.
Frontier Airlines earned 42% of its revenue from ancillary fees or non-ticket revenue in 2016—a significant rise compared to 25% in 2015.
It isn’t the first time that Frontier Airlines will be traded publicly. It was listed on the NASDAQ stock exchange in the early 2000s.
Putting an end to rumors over the past few months, Frontier Airlines filed the preliminary registration form for an initial public offering.
In 2016, HP announced an A3 printer portfolio and estimated that these products would lower costs by 40%.
On March 30, 2017, PBF Energy (PBF) had the highest short interest-to-equity float ratio among our list of integrated energy and refiner stocks.
In the last five days, China Petroleum & Chemical (SNP) rose the most among our integrated energy and refiner stocks with low implied volatilities.
Calumet Specialty Products Partners’ implied volatility was 56.7% on March 30, 2017. It was ~1.3% lower than its 15-day average.
From March 23, 2017, to March 30, 2017, the United States Natural Gas ETF (UNG), which aims to track active natural gas futures, rose 1.9%.
Between March 23, 2017, and March 30, 2017, the Energy Select Sector SPDR ETF (XLE) rose 1.9%.
At ~68.1%, the VanEck Vectors Oil Services ETF (OIH) showed the highest correlation with US crude oil between February 28 and March 30, 2017.
From March 23 to March 30, 2017, the United States Oil ETF (USO) rose 5.6%.