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Pattern Energy to be acquired by CPPIB in all-cash deal valued at $6.1 billion, including debt

Sysco Corp. Q1 adjusted earnings Beat Estimates

Sysco Corp. (SYY) reported a profit for its first quarter that climbed from the same period last year.

The company’s earnings totaled $453.78 million, or $0.87 per share. This compares with $431.04 million, or $0.81 per share, in last year’s first quarter.

Excluding items, Sysco Corp. reported adjusted earnings of $510.27 million or $0.98 per share for the period.

Analysts had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 0.5% to $15.30 billion from $15.22 billion last year.

Sysco Corp. earnings at a glance:

-Earnings (Q1): $510.27 Mln. vs. $479.22 Mln. last year.
-EPS (Q1): $0.98 vs. $0.91 last year.
-Analysts Estimate: $0.97
-Revenue (Q1): $15.30 Bln vs. $15.22 Bln last year.

Sprint Corp. Reports Growth In Q2 Postpaid Net Additions – Quick Facts

Sprint Corp. (S) reported stability in postpaid wireless service revenue and continued growth in postpaid net additions during the second quarter of fiscal 2019. The company reported a net loss of $274 million, negatively impacted by the estimated reimbursements to federal and state governments. Postpaid net additions were 273,000 driven by growth in data devices and partially offset by postpaid phone customer losses.

For the second-quarter, loss per share was $0.07 compared to profit of $0.05, prior year. On average, 16 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.02, for the quarter. Analysts’ estimates typically exclude special items.

Second-quarter total net operating revenues declined to $7.80 billion from $8.43 billion, prior year. Analysts expected revenue of $8.17 billion, for the quarter.

Total wireless service revenue was $5.0 billion, negatively impacted by lower Lifeline revenue as a result of estimated reimbursements to federal and state governments for subsidies. Excluding these impacts, total wireless service revenue was relatively stable year-over-year. Postpaid wireless service revenue of $4.2 billion, relatively flat year-over-year.

Sprint CEO Michel Combes said: “I remain convinced that merging with T-Mobile and building one of the world’s most advanced 5G networks is the best outcome for all consumers, employees, and shareholders.”

European Economics Preview: Eurozone Final Factory PMI Data Due

Factory Purchasing Managers’ survey results from euro area and other major euro area economies are due on Monday, headlining a light day for the European economic news.

At 1.45 am ET, the State Secretariat for Economic Affairs, or SECO, publishes Swiss consumer confidence data for the fourth quarter. The sentiment index is expected to remain unchanged at -8.

At 2.00 am ET, the Turkish Statistical Institute is set to publish consumer and producer prices for October. Inflation is forecast to rise to 8.6 percent from 9.26 percent in September.

At 3.00 am ET, Poland and Hungary’s manufacturing PMI figures are due. Economists forecast Poland’s index to climb to 48.2 in October from 47.8 in September.

At 3.15 am ET, IHS Markit releases Spain’s manufacturing PMI for October.

Thereafter, final PMI figures are due from France and Germany at 3.50 am ET and 3.55 am ET, respectively.

At 4.00 am ET, IHS Markit is scheduled to issue euro area factory PMI data. The final score is expected to match the flash estimate of 45.7.

At 4.30 am ET, UK construction PMI data is due. The index is forecast to rise to 44.1 in October from 43.3 in September.

NAPCO Security Technologies Inc. Profit Rises In Q1

NAPCO Security Technologies Inc. (NSSC) announced earnings for its first quarter that rose from the same period last year.

The company’s bottom line totaled $3.23 million, or $0.17 per share. This compares with $1.50 million, or $0.08 per share, in last year’s first quarter.

The company’s revenue for the quarter rose 12.4% to $26.29 million from $23.38 million last year.

NAPCO Security Technologies Inc. earnings at a glance:

-Earnings (Q1): $3.23 Mln. vs. $1.50 Mln. last year.
-EPS (Q1): $0.17 vs. $0.08 last year.
-Revenue (Q1): $26.29 Mln vs. $23.38 Mln last year.

Fresenius Helios Acquires CediMed In Colombia – Quick Facts

Quirónsalud, part of Fresenius Helios (FSNUF.PK,FSNPF.PK), has acquired CediMed, a medical diagnostics group based in Colombia. The total investment is about 40 million euros. Fresenius Helios anticipates closing the deal in the next few months.

CediMed, which offers a range of state-of-the-art diagnostic imaging and laboratory services, operates seven centrally located centers in Medellin.

Fresenius Helios owns and operates Helios hospitals in Germany and Quirónsalud hospitals in Spain. Headquartered in Madrid, Quirónsalud operates 47 hospitals, 56 outpatient centers and some 300 Occupational Risk Centers.

Pattern Energy to be acquired by CPPIB in all-cash deal valued at $6.1 billion, including debt

Renewable energy company Pattern Energy Group Inc. PEGI, -0.82% said Monday it has reached an agreement to be acquired by Canada Pension Plan Investment Board, or CPPIB, in an all-cash deal valued at about $6.1 billion, including debt. Under the terms of the deal, CPPIB will pay $26.75 per Pattern Energy share, equal to a premium of about 14.7% over the stock’s closing price on Aug. 9, the last trading day prior to market speculation about the possible deal. CPPIB has an agreement with Riverstone Holdings LLC to combine Pattern Energy with Pattern Development, a renewable energy and transmission company with a history in wind energy. The new entity will be led the Pattern Energy management team, headed by Chief Executive Mike Garland. The deal is expected to close in the second quarter of 2020. Pattern Energy shares were halted for the news, but have gained 49% in 2019, while the S&P 500 SPX, +0.97% has gained 22%.