==Block (XYZ) reported earnings on Thur 20 Feb 25 (a/h)

Fintech company Block (SQ) has been trading under a new ticker on the New York Stock Exchange starting Jan. 21: XYZ. 

The company, led by Twitter co-founder Jack Dorsey, has had a history of rebranding itself. In December 2021, the company rebranded and changed its name from Square to Block. 

• Sector: Technology
• Industry: Software - Infrastructure
• HQ: Oakland, California
• https://www.block.xyz

 

EARNINGS MISS: XYZ announced quarterly EPS of $0.71, missing expectations by 18.79%.

The financial services company fell short of net revenue ($6.03 billion vs. the $6.28 billion expected) and adjusted earnings ($0.71 vs. the $0.89 expected). The company, led by chairman and CEO Jack Dorsey, managed to beat on adjusted EBITDA, reporting $757 million (vs. the $741.6 million expected).

===NextEra Energy Partners (NEP) is changing its name to XPLR Infrastructure (XIFR)

 

NextEra Energy Partners is changing its name to XPLR Infrastructure, effective today and will begin trading under the new ticker symbol, XIFR, on the New York Stock Exchange on Tuesday, Feb. 3

• Until Feb. 3, the company will continue to trade on the NYSE under its current ticker symbol, NEP.
• In addition to its new name and ticker symbol, XPLR Infrastructure will have a new logo and new website, www.XPLRInfrastructure.com.

Florida-based NextEra Energy Partners is a limited partnership formed by NextEra Energy Inc (NYSE:NEE) that is active in acquiring, managing and owning contracted clean energy projects. It owns interests in wind, solar and battery storage projects in the US, as well as natural gas infrastructure assets in Pennsylvania. As of September 30, 2024, NextEra Energy Partners’s generation portfolio had gross capacity of 13,585 MW and net capacity of 10,112 MW.

==Gap (GPS) to change its ticker symbol to "GAP"

• Gap to change its ticker symbol to "GAP", effective August 22; will continue to trade on NYSE 

==Overstock.com (OSTK) changed its corporate name to Beyond (BYON) on November 6, 2023

• Overstock.com, Inc. changed its corporate name to Beyond, Inc. on November 6, 2023. The company also changed its ticker symbol from OSTK to BYON and moved its stock listing from the Nasdaq Global Market to the New York Stock Exchange. 
• In June 2023, The New York Times reported that Overstock was considering renaming its business entirely in a move to reflect its updated business model. The company was founded 1999 as a liquidator, but has since transformed itself into an online retailer of furniture and home items.
• https://beyond.com/

WisdomTree transfers listing to NYSE, trades under WT ticker

•  Changes name ‘WisdomTree Investments, Inc.’ to simply ‘WisdomTree, Inc.’ and a change in its ticker symbol to ‘WT’ from ‘WETF’ to become effective Monday November 7, 2022. 
• Changes name ‘WisdomTree Investments, Inc.’ to simply ‘WisdomTree, Inc.’ and a change in its ticker symbol to ‘WT’ from ‘WETF’ to become effective on Monday November 7, 2022. 
  

NortonLifeLock (NLOK) to change its name to Gen Digital (GEN)

NortonLifeLock unveiled its new company name Gen Digital (pending Nasdaq: GEN) following the completed merger of NortonLifeLock and Avast.

 

Arch Resources (ARCH) reported earnings on Tue 23 Oct 2018 (b/o)

• The company was formerly known as Arch Coal, Inc. and changed its name to Arch Resources, Inc. in May 2020. Arch Resources, Inc. was incorporated in 1969 and is headquartered in St. Louis, Missouri.
• Arch Resources is the second-largest supplier of coal in the United States, behind Peabody Energy. 
• ACI -->  ARCH:  In January 2016, Arch Coal (ACI) filed for chapter 11 bankruptcy protection. 
• The company won a court approval allowing them to erase almost $5 billion in debt and left bankruptcy with $300 million in cash.  
• Arch Coal resumed trading on the New York Stock Exchange under the ticker ARCH on October 5, 2016. 

 

 

 

 

 

 

 

• Reports Q1 (Mar) earnings of $12.89 per share, $1.21 better than the S&P Capital IQ Consensus of $11.68; revenues rose 142.8% year/year to $867.9 mln vs the $725.33 mln S&P Capital IQ Consensus.
• Announces a quarterly dividend of $135.3 million, or $8.11 per share

ViacomCBS (VIAC) changes corporate name to Paramount Global (PARA)

• ViacomCBS will change its corporate name to Paramount as of Feb. 16, calling the move an effort to adopt “an iconic global name” to reflect the conglomerate’s increasingly worldwide focus.
• The company’s shares will trade on the NASDAQ index under the ticker symbol PARA (for Class B common shares), PARAA (for Class A common), and PARAP (for Class A preferred).
• ViacomCBS is doubling down on its nascent streaming strategy, with plans to steer more content and investment toward Paramount+ and a new reporting structure and corporate brand to emphasize that focus.

 

 

CBS is a foundational name in broadcasting — the Columbia Broadcasting System launch dates back to 1927 and the early days of commercial radio. The Eye name will endure on the broadcast network and other existing assets.

The moniker makeover was announced Tuesday by ViacomCBS chair Shari Redstone and president-CEO Bob Bakish in a memo to staffers. 

“As Paramount, our name will reflect who we are, what we aspire to be, and all that we stand for. It will help advance our strategy of harnessing all our strength and breadth in building the businesses of tomorrow. And it will capture the collective power of our global assets, from our amazing brands—CBS, Showtime, MTV, Comedy Central, BET, Nickelodeon, Smithsonian, Paramount Pictures, Paramount+, Pluto TV and more— to our global reach and our diverse audiences. All of which adds up to Paramount being the pre-eminent home to, and producers of, the world’s greatest content,” Redstone and Bakish wrote.

Chipmaker Cree (CREE) changes name to Wolfspeed, strikes deal with GM on battery tech

• Cree Inc shares previously traded on the Nasdaq Global Select Market, and newly renamed North Carolina-based Wolfspeed now will trade on the New York Stock Exchange under the ticker "WOLF."

 

Wolfspeed makes chips out of silicon carbide, which is more energy efficient than standard silicon for tasks such as transmitting power from an electric car's batteries to the motors that turn the wheels. That helps boost the vehicle's range. Tesla Inc was an early adopter of the chips, and other vehicle makers are following suit.

But silicon carbide chips are difficult to make because the raw crystalline material has to be grown in special furnaces and processed into chips differently from standard silicon.

Wolfspeed has worked with silicon carbide for 30 years. In addition to making its own silicon carbide chips, Wolfspeed makes about 60% of the world's raw silicon carbide material and supplies it to some of its competitors such as Infineon Technologies, STMicroelectronics and On Semiconductor.

-=Fiserv (FISV) reported earnings on Wed 27 Oct 21 (b/o)

• Effective June 07, 2023, Fiserv, Inc. transferred its stock exchange listing from the Nasdaq Global Market to the New York Stock Exchange, and changed its ticker symbol from to FI from FISV.
 

Fiserv beats by $0.02, beats on revs; guides FY21 EPS in-line

• Reports Q3 (Sep) earnings of $1.47 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $1.45; revenues rose 10.0% year/year to $4.16 bln vs the $4.1 bln S&P Capital IQ Consensus.
• Free cash flow was $2.29 billion in the first nine months of 2021 compared to $2.59 billion in the prior year period.
• Co issues in-line guidance for FY21, sees EPS of $5.55-$5.60 vs. $5.56 S&P Capital IQ Consensus. Sees internal revenue growth of 11%.

Plantronics, Inc. (PLT) (Poly) reported earnings on Thur 13 May 21 (a/h)

Mar 28, 2022: Poly was acquired by HP in an all-cash deal worth $3.3 billion including debt. 

 

** charts before earnings **

 

** charts after earnings **

 

Poly to change ticker symbol to "POLY", effective May 24

• Poly announced that its ticker symbol on the NYSE will change to "POLY" at the open of market trading on May 24. Poly, formerly Plantronics and Polycom, has traded under the ticker "PLT" since Plantronics' initial public offering in 1994.

Poly beats by $0.30, beats on revs; guides Q1 EPS below consensus, revs below consensus

Reports Q4 (Mar) earnings of $1.23 per share, excluding non-recurring items, $0.30 better than the S&P Capital IQ Consensus of $0.93; revenues rose 16.9% year/year to $478 mln vs the $454.93 mln S&P Capital IQ Consensus.

The global semiconductor chip shortage has impacted companies worldwide and we expect we will continue to experience ongoing tightness in our supply chain. End market demand remains strong for Video and Headsets, while Voice demand is recovering. However, the Company's ability to execute on this demand is subject to availability of certain components. Absent supply shortages, we believe demand would support sequential revenue growth off the March quarter. 

Co issues downside guidance for Q1, sees EPS of $0.35-0.55, excluding non-recurring items, vs. $0.79 S&P Capital IQ Consensus; Based on current supply and expected availability of specific components, the Company expects Q1 revs of $410-430 mln vs. $438.76 mln S&P Capital IQ Consensus.

-=American Outdoor Brands (AOBC) to change name to Smith & Wesson Brands; to trade under ticker symbol "SWBI"

• Smith & Wesson Brands (SWBI)
• American Outdoor Brands (AOUT)

The decision to split off the firearm business was partly motivated by a changing political climate.


American Outdoor Brands to change name to Smith & Wesson Brands, effective June 1; to trade under ticker symbol "SWBI"

American Outdoor Brands will change its name to Smith & Wesson Brands, effective June 1.

• The name change reflects the company's preparation for the previously announced spin-off of its outdoor products and accessories business as a tax-free stock distribution to its stockholders in late summer 2020, a transaction that would create two independent, publicly traded companies: Smith & Wesson Brands (which would encompass the firearm business) and American Outdoor Brands (which would encompass the outdoor products and accessories business).

The company's common shares will continue to be listed for trading on the Nasdaq Global Select exchange under the new ticker symbol "SWBI" beginning at the market opening on Monday, June 1.

-=Jacobs (JEC) reported earnings Mon 25 Nov 19 (b/o)

• Co also announces that it will begin trading on the NYSE under the updated ticker symbol "J" on Dec. 10, 2019

Jacobs beats by $0.17, beats on revs; initiates $250 mln accelerated share repurchase program, offers FY20 Adj-EBITDA guidance

Reports Q4 (Sep) earnings of $1.48 per share, excluding non-recurring items, $0.17 better than the S&P Capital IQ Consensus of $1.31; revenues rose 13.4% year/year to $3.39 bln vs the $3.29 bln S&P Capital IQ Consensus.

"It's clear the strategic actions we have taken are resulting in a high-performance culture with strong execution discipline. This is demonstrated by our fiscal 2019 financial results, including solid operating profit growth and achieving results at the high end of our original guidance, leading to double-digit adjusted EBITDA growth. During the fourth quarter, we opportunistically initiated a $250 million accelerated share repurchase program, culminating in more than $850 million in fiscal 2019 buy-backs. We are initiating a fiscal 2020 outlook of $1.05 billion to $1.15 billion in adjusted EBITDA2 and are off to a strong start in achieving our 2021 revenue and profitability targets."

=SeaWorld Entertainment (SEAS) reported earnings on Tue 6 Aug 2019 (b/o)

• Update Jan 20, 24:  SeaWorld Entertainment (SEAS) will change its name to United Parks & Resorts effective Feb. 12, 2024; ticker symbol will change from SEAS to PRKS with trading as PRKS to begin Feb. 13, 2024 
• The name change affects only the name of the parent company -- SeaWorld Entertainment, Inc. The Company's award-winning portfolio of parks -- SeaWorld, Busch Gardens, Discovery Cove, Sesame Place, Water Country USA, Adventure Island, and Aquatica -- retain their respective park names.
  

SeaWorld Entertainment reports Q2 GAAP earnings of $0.64/share vs. $0.26/share year ago, misses on revs

Reports Q2 (Jun) GAAP earnings of $0.64 per share, the S&P Capital IQ Consensus is $0.55; revenues rose 3.6% year/year to $406 mln vs the $411.77 mln S&P Capital IQ Consensus.

Revenue was positively impacted by improved in-park per capita spending (defined as food, merchandise and other revenue divided by total attendance), an overall increase in attendance, and an increase in admission per capita.

Attendance increased by 0.8%, to 6.5 mln guests from 2Q18.

Adjusted EBITDA increased by 22.7% to $149.7 mln from 2Q18.

DSW (DSW) changes its corporate name to Designer Brands (DBI)

In March 2019, DSW rebranded their corporate name to Designer Brands. The company also changed its ticker symbol on the NYSE from "DSW" to "DBI" effective April 2, 2019.

Pain Therapeutics (PTIE) to change name to Cassava Sciences (SAVA)

• Update Sep 26, 2024 — The Securities and Exchange Commission today filed charges against Cassava Sciences, Inc., its founder and former CEO, Remi Barbier.

Headquarters: Austin, TX

Founded: 1998

 

Pain Therapeutics Inc. (PTIE) said Wednesday it's changing its name and ticker to better reflect its focus on developing drugs for neurodegenerative diseases such as Alzheimer's. The company will be named Cassava Sciences Inc. with immediate effect. From March 28, it will start trading on Nasdaq under the new ticker symbol "SAVA." The company is currently in a phase 2 testing of a drug candidate aimed at treating Alzheimer's, that does not seek to clear amyloid from the brain, but rather to stabilize a critical protein in the brain. It is also working to develop a biomarker/diagnostic to detect Alzheimer's using a simple blood test. Shares rose 1.7% in premarket trade, but have fallen 82.2% in the last 12 months, while the S&P 500 SPX, -0.02% has gained 7.9%.

=WW (WTW) reported earnings on Tue 26 Feb 19 (a/h)

• Weight Watchers (NASDAQ:WTW) begins trading under its new ticker symbol WW on April 22. The company has also rebranded its corporate identity to WW to fall in line with its transition to a global wellness company.

WW beats by $0.03, misses on revs; guides FY19 EPS below consensus, revs below consensus

• Reports Q4 (Dec) earnings of $0.63 per share, $0.03 better than the S&P Capital IQ Consensus of $0.60; revenues rose 5.7% year/year to $330.4 mln vs the $346.99 mln S&P Capital IQ Consensus.
• Co issues downside guidance for FY19, sees EPS of $1.25-1.50 vs. $3.38 S&P Capital IQ Consensus; sees FY19 revs of $1.4 bln vs. $1.66 bln S&P Capital IQ Consensus.

"While we are proud of our accomplishments in 2018, we had a soft start to 2019 versus last year's strong performance with the launch of WW Freestyle. Given our Winter Campaign did not recruit as expected, we have been focused on improving member recruitment trends. We quickly moved to course correct, including introducing new creative with a stronger call-to-action and further optimizing our media mix.... Looking ahead, I'm happy to say that Oprah Winfrey will play a central role in our upcoming TV and digital marketing campaign for Spring, bringing to life a clear message on how WW is the program that works.... However, due to the soft start to the key Winter Season, we expect member recruitment for 2019 to be below 2018 levels, resulting in lower revenue and earnings for the year. We are focused on driving member recruitment and exercising strict cost discipline, while continuing to invest in the areas that will drive future growth."

=SunTrust Banks (STI) to be acquired by BB&T Corp (BBT)

• Update Dec 09, 2019:  SunTrust bank merger completed with BB&T, creating Truist (TFC), based in Charlotte, North Carolina. The merger between Atlanta-based SunTrust and Winston-Salem, N.C.-based BB&T has been completed, creating the nation’s sixth-largest bank, serving about 10 million consumer households.
• BB&T and SunTrust have agreed to merge into a new and as-yet-unnamed bank, in an all-stock deal valued at approximately $66 billion. The new bank, which would have its headquarters in Charlotte, N.C., will be the sixth-largest in the U.S. based on assets and deposits.

BB&T Corp and SunTrust (STI) to combine in all-stock merger of equals valued at approximately $66 bln

The pro forma company will have approximately $442 billion in assets, $301 billion in loans, and $324 billion in deposits serving more than 10 million households in the United States, with leading market share in many of the most attractive, high-growth markets in the country. The incremental scale positions the new company to achieve industry-leading financial and operating metrics with the strongest return profile among its peers.

• GAAP and Cash EPS accretion per BB&T share in 2021 is expected to be approximately 13% and 17%, respectively (based on Street estimates). GAAP and Cash EPS accretion per SunTrust share in 2021 is expected to be approximately 9% and 16%, respectively (based on Street estimates). SunTrust shareholders will receive a 5% increase in their dividend upon consummation of the transaction based upon each Company's current dividend per share.
• Under the terms of the merger agreement, SunTrust shareholders will receive 1.295 shares of BB&T for each SunTrust share they own. BB&T shareholders will own approximately 57% and SunTrust shareholders will own approximately 43% of the combined company.
• Expected to deliver approximately $1.6 billion in annual net cost synergies by 2022. The primary sources of cost savings are expected to be in facilities, information technology/systems, shared services, retail banking and third-party vendors.

(Reuters) - BB&T Corp will buy SunTrust Banks Inc for about $28 billion in an all-stock deal, the companies said on Thursday, creating the sixth largest U.S. lender in the biggest bank deal since the 2007-2009 financial crisis.

The two companies called it a merger of equals, valued at $66 billion.

The combined company will operate under a new name and have around $442 billion in assets, $301 billion in loans and $324 billion in deposits, and will rival Citigroup Inc and Bank of America Corp.

The deal comes at a time when the Trump administration is pushing for easing crisis-era regulations that restricted expansion and added increased regulatory scrutiny on big banks.

Added to that, changes in the U.S. tax laws that lowered corporate tax also freed up capital and Wall Street has long been expecting a wave of dealmaking in the banking sector.

As part of the deal, SunTrust shareholders will receive 1.295 shares of BB&T for each share they own. The per share deal value of $62.85 is at a 7 percent premium to SunTrust's closing price on Wednesday, according to a Reuters calculation.

Atlanta-based SunTrust rose 5.5 percent to $62 before the opening bell, a few cents short of its acquisition price.

BB&T shareholders will own 57 percent of the combined company and SunTrust will own the rest.

The deal, expected to close in the fourth quarter, will likely result in annual cost savings of around $1.6 billion by 2022, the companies said. The merger is will generate an internal rate of return of about 18 percent.

Kelly King, BB&T's chief executive officer, will be the CEO of the combined company until Sept.12, 2021, after which SunTrust CEO, William Rogers Jr will take over.

-=Anthem (ANTM) reported earnings on Wed 30 Jan 2019 (b/o)

• Update Jun 16, 2022:  Anthem (NYSE:ANTM) announced that it is changing its name to Elevance Health and will revive the Wellpoint name in some markets. The name change becomes official on June 28 and the company's ticker symbol will be ELV. Elevance is blending of the words elevate and advance. The company adopted the Anthem in late 2014 after being known as Wellpoint. 
  

INDIANAPOLIS (AP) -- The Blue Cross-Blue Shield insurer Anthem topped fourth-quarter earnings expectations and debuted a better-than-expected 2019 forecast, helped by an early start for its prescription drug coverage business.

Shares of the nation's second-largest health insurer soared after Anthem said it expected adjusted earnings in the new year to be better than $19 per share. That's about 8 percent higher than the average analyst forecast of $17.61 per share, according to FactSet.

Anthem said the outlook reflects an accelerated launch for its IngenioRx pharmacy benefit management business, which the company is running with help from CVS Health Corp.

The insurer had announced plans to create IngenioRx in 2017 after its relationship with another pharmacy benefits manager, Express Scripts, soured. Pharmacy benefit managers, or PBMs, run prescription drug plans for employers, government agencies and insurers, among other clients. They use their large purchasing power to negotiate prices and shape formularies or lists of covered drugs.

Anthem initially said its PBM would start in 2020. But the insurer said Wednesday that it will actually start moving customers over to the new business in this year's second quarter.

The insurer is ending its deal with Express Scripts, which had managed Anthem's prescription business for several years, on March 1 due to that company's recently completed acquisition by another insurer, Cigna Corp.

The accelerated launch of the new business should quell "skeptical bears" about Anthem's move back into the prescription drugs business, which it had left in 2009, Leerink analyst Ana Gupte said in a research note.

Indianapolis-based Anthem Inc. runs Blue Cross Blue Shield plans in several states, including big markets like California, New York and Ohio. It covers nearly 40 million people, including those who receive benefits from the government-run Medicaid and Medicare programs.

In the recently completed fourth quarter, Anthem saw its profit fall 66 percent to $424 million compared to the end of 2017, when Anthem and other companies recorded a big benefit from corporate tax cuts.

Operating revenue, which excludes things like investment income, grew nearly 4 percent to $23.3 billion in the most recent quarter, and earnings adjusted for one-time items totaled $2.44 per share.

Analysts expected, on average, earnings of $2.20 per share on $23.36 billion in revenue, according to Zacks Investment Research.

Shares of Anthem jumped 8 percent, or $21.54, to $294.25 in premarket trading Wednesday.

Barrick Gold completes merger with Randgold Resources; trades under the ticker GOLD

• The Canadian Barrick Gold (ABX) has merged with the British Randgold Resources (GOLD) on January 1, 2019.  
• The new company is still known as Barrick but its trading symbol on the NYSE will change to GOLD, the ticker formerly held by Randgold on NASDAQ. On the TSX, the ticker remains ABX.
• Gold miners' bearish cycle may have ended in mid-October. The probability of a golden cross occurring in early 2019 is now significantly high.

Barrick Gold (ABX) (old)

Barrick Gold (GOLD) (new)

 

Golden cross on $GOLD

It's the first bell of 2019, and the NYSE is celebrating the successful merger between Barrick Gold with Randgold Resources with their new ticker $GOLD

Barrick executive chairman John L. Thornton (center), and Mark Bristow, president and chief executive officer (center left), open the New York Stock Exchange on January 2, 2019. 

• The $18.3 billion-deal, which gained final approval in December, has created a sector-leading miner which owns five of the industry’s Top 10 Tier One gold assets and which is well placed to be the world’s most valued gold mining business, Barrick said in the statement.

The merger has created a sector-leading gold company which owns five of the industry’s Top 10 Tier One gold assets1 (Cortez and Goldstrike in Nevada, USA (100%); Kibali in DRC (45%); Loulo-Gounkoto in Mali (80%); and Pueblo Viejo in Dominican Republic (60%)), and two with the potential to become Tier One gold assets (Goldrush/Fourmile (100%) and Turquoise Ridge (75%), both in the USA). Barrick has the lowest total cash cost2 position among its senior gold peers3, and a diversified asset portfolio positioned for growth in many of the world’s most prolific gold districts.

Barrick approach community relations in Nevada (source)

The Summer Youth Employment Program, a Barrick-funded initiative, allows Shoshone youth aged 14 to 18 to gain valuable work experience in their communities. This past summer alone, 136 students participated in the program, performing jobs ranging from painting to community maintenance to elder care.

Shoshone interns. In all, Barrick provided funding for 18 Shoshone summer interns to work in their communities this past summer.

Rebecca Darling is Director of Corporate Social Responsibility for Barrick in the U.S.A.