Dell - Shareholders Are The Winners If 3 Fight For 1

The battle for Dell (DELL) continues as major Wall Street titans get personally involved in a buyout frenzy for the troubled global information technology company. So far in 2013, shares have already returned some 42% as Michael Dell, Stephen Schwarzman and Carl Icahn all got involved in the battle for the company, making competing offers for the business.

Michael Dell's And Silver Lake's Offer

Halfway through January, rumors surfaced that founder Michael Dell in combination with a private equity firm were to make a bid for the company. Two weeks later things got official when the founder and current CEO and Chairman, together with Silver Lake teamed up to make an offer for the company.

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PolyOne: Sell-Off After Resin Divestiture Creates A Long-Term Entry Opportunity

Shares of PolyOne Corporation (POL) fell 1.8% in Monday's trading session. The provider of specialized polymer materials and associated services and products announced the sale of its non-core Resin assets. Shares continued to slip, trading with losses of a similar percentage in Tuesday's trading session.

The Deal

PolyOne announced that it has agreed to sell its vinyl dispersion, blending and suspension resin activities to Mexichem S.A.B. for $250 million in cash.

The activities were part of PolyOne's Performance Products and Solutions business. While the deal has a short term dilutive effect, the company stresses that the deal is consistent with the company's mix improvement strategy which has delivered significant shareholder value already in recent years. CEO and Chairman Stephen D. Newlin commented on the deal:

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West Corporation - Incentives Remain Aligned In This Highly Levered Public Offering

West Corporation (WSTC) made its public debut on March 22. Shares of the company, which provides technology-driven communication services, ended their first trading day with losses of 5.7% at $18.86 per share. Shares have traded around the $19 level ever since, closing Tuesday's trading session at $19.02 per share.

The Public Offering

West Corporation is a leading provider of technology driven communication services. The company provides multiple services including conferencing, collaboration services, emergency communications, business process outsourcing and interconnect services. By offering this broad range of services, West Corporation is able to provide high quality and reliable communication services for its clients

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Marin Software: Sentiment Remains Strong For Cloud-Based Company

On Friday, Marin Software (MRIN) made its public debut. Shares of the provider of internet advertising services ended their first trading day with gains of 16.1% at $16.26 per share. Shares initially rose to highs of $19.95 at the start of the trading day, but gradually lost terrain to end its opening day with much more modest gains.

After a slight correction in Monday, shares have rebounded on Tuesday, currently exchanging around $17 per share.

The Public Offering

Marin Software has developed and provides a cloud-based digital advertising platform which helps advertisers to improve their business revenues by providing optimized solutions. Marin's Revenue Acquisition Management platform measures the effectiveness of advertising campaigns and helps to optimize advertising budgets of its clients.

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Model N - Remain On The Sidelines After An Almost 50% Jump

Last week, Model N (MODN) made its public debut on Wednesday the 20th of March. Shares of the company, which provides revenue management solutions for the life science and technology industry, ended their first trading day with gains of 28.9% at $19.97 per share. Shares have traded around the $20 level ever since, currently exchanging hands around $19 per share.

The Public Offering

Model N is a provider of revenue management solutions aimed to maximize revenues for its customers. The company offers key functions including pricing, contracting, incentives and rebates to maximize revenues through its web-based platform which works in the cloud as well as on traditional platforms.

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Nike Shares Rally Hard As Long Promised Margin Expansion Materializes

Shares of Nike (NKE) are rallying in a response to a strong set of results, released after the market close on Thursday. The global developer, marketer and seller of athletic footwear, sporting equipment, apparel and accessories reported strong third quarter results.

Third Quarter Results

Nike generated third quarter revenues of $6.19 billion, up 9% on the year before. In constant currencies, revenue growth would have come in another percent point higher. Revenues came in slightly short of consensus estimates of $6.23 billion, due to a disappointing performance in China.

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Valeant Pharmaceuticals - Investors Send Shares To All Time Highs After Yet Another Acquisition

Shares of Valeant Pharmaceuticals (VRX) rose some 2.5% in Wednesday's trading session. The specialty pharmaceutical company announced the acquisition of Obagi Medical Products (OMPI).

The Deal

Valeant Pharmaceuticals announced that is has agreed to acquire Obagi Medical Products, a leader in topical aesthetic and therapeutic skin-health systems. The company is known from leading dermatology brands including Obagi Nu-Derm, Condition & Enhance and Obagi-C, among others.

Valeant will pay $19.75 per share in cash for Obagi Medical, valuing the company around $344 million. The deal value represents a 28% premium compared to Tuesday's closing price.

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Oracle: Sell-Off Creates Long-Term Entry Opportunity

Shares of Oracle (ORCL) are trading with sizable losses of up to 10% in Thursday's trading session. The provider of enterprise software, cloud-based services and computer hardware reported a disappointing set of third quarter results on Wednesday after the close. Investors are also disappointed with a poor revenue guidance for the fourth quarter.

Third Quarter Results

Oracle generated third quarter revenues of $8.96 billion, down 1% on the year before. Software revenues grew some 4% to $6.67 billion, while hardware revenues fell 16% to $1.24 billion. Service revenues also fell 8% to $1.04 billion. Revenues severely missed analysts estimates of $9.37 billion and Oracle's own guidance.

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Sanchez Energy Buys Great Assets From Hess On The Cheap

Shares of Sanchez Energy (SN) ended Monday's trading session unchanged after trading with gains of up to 3%. The independent oil and natural gas exploration and production company announced the acquisition of "Eagle Ford" assets from Hess Corporation (HES). Investors lost some of their enthusiasm about the deal as shares fell back towards $19 on Tuesday and Wednesday.

The Deal

Sanchez Energy announced that it has agreed to acquire 43,000 net acres of operating assets in the Eagle Ford shale field in Texas. The company will pay $265 million for the assets which have 13.4 million barrels of oil equivalent in proven reserves, of which 70% is oil. Currently the fields produce 4,500 barrels of oil equivalent per day. The acquired properties have 50 gross operating producing wells and 72% of the production is oil.

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FedEx - Investors Are Negatively Surprised By Express Troubles

Shares of FedEx (FDX) traded with losses of up to 7% in Wednesday's trading session. The global transportation and e-commerce firm reported a disappointing set of third quarter results accompanied by a lowered full year outlook.

Third Quarter Results

FedEx generated third quarter revenues of $11.0 billion, up 4% compared to last year. Revenues came in ahead of consensus estimates of $10.85 billion

Despite the modest uptick in revenues, operating income came under severe pressure. Operating income fell 28% to $589 million, as operating margins fell 230 basis points to 5.4%. The main reason for lower profits is the accelerating shift of demand towards lower-yielding international services.

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Cynosure: Price Tag Of Palomar Deal A Bit Steep

Shares of Cynosure (CYNO) have taken a beating. The developer and marketer of aesthetic treatment systems which are used to perform non-invasive procedures announced that it has agreed to acquire Palomar Medical Technologies (PMTI). Shares ended the day with losses of 5%, while shares of Palomar rose more than 4%.

The Deal

Cynosure announced that it has agreed to acquire Palomar Medical Technologies in an attempt to create a world-leading aesthetic laser and light-based company. Cynosure will acquire the company for a total of $284 million in cash and stock.

Shareholders in Palomar stand to receive $6.825 worth of Cynosure's common stock and a similar amount in cash. The deal values the company at approximately $294 million. The deal represents an 8% premium compared to Friday's closing price.

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Silver Spring Networks - Strong Potential, Strong Public Offering

Last week, Silver Spring Networks Inc (SSNI) made its public debut on Wednesday the 13th of March. Shares of the provider of networking platform solutions for utility companies ended their first trading day with gains of 29.4% at $22.00 per share. Shares have seen a modest correction ever since, currently exchanging hands around $21 per share.

The Public Offering

Silver Spring is a provider of leading networking platform and solutions which enable utilities to transform the power grid infrastructure into the smart grid. The smart grid connects millions of devices which generate, control and consume power, thereby providing timely information to control both utility power generation and power consumption.

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Ulta Salon, Cosmetics & Fragrance: Uncertainty And Growth Slowdown Continue To Weigh On Shares

Shares of Ulta Salon, Cosmetics & Fragrance (ULTA) has had a tough week. Shares of the beauty salon retailer have lost some 18% over the past five trading days. Shares fell some 16% in Friday's trading session after the company reported a disappointing set of fourth-quarter results on Thursday after the close.

Fourth-Quarter Results

Ulta Beauty generated revenues of $758.8 million for the fourth quarter of 2012, up 30.3% compared to the year before. The company benefited from the fact that the final quarter of the year contained an extra working week. Sales were also driven by an impressive 8.0% increase in same-store sales. Quarterly revenues beat consensus estimates of $753 million.

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Intuitive Surgical - Still No Margin Of Safety After The Recent Sell-Off

Shares of Intuitive Surgical (ISRG) ended the final trading day of the week with losses of 6.2%. The losses followed up on a correction which started around lunch time on Thursday, as shares have lost a cumulative 10% in merely two days.

The company which is well-known for its da Vinci Surgical System, suffered as the American Congress of Obstetricians and Gynecologists questioned the added value of the robotic surgeon over the human surgeon. A negative research report from the Food and Drug Administration already sent shares downwards earlier in 2013.

Da Vinci Is Coming Under Scrutiny

On Thursday, The American Congress of Obstetricians and Gynecologists was critical about whether robotic surgeon offered any value above traditional means of performing hysterectomies.

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Rosetta Resources: Acquisition Of Permian Basin Assets Boosts Reserve And Growth Potential

Shares of Rosetta Resources (ROSE) ended the final trading session of the week flat after trading with gains of up to 6% during the session. The independent exploration and production company with operations in the "Eagle Ford" and the "Alberta Basin" announced the acquisition of the Permian Basin assets of Comstock Resources (CRK).

The Deal

Rosetta Resources announced that it has agreed to acquire some 53,306 net acres in West Texas from Comstock. The company will pay some $768 million for the assets, subject to customary closing adjustments. The fields currently produce some 3,300 barrels of oil, of which some 73% is oil.

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Vera Bradley - Long-Term Growth Story Remains Intact

Shares of VMware (VMW) saw a big jump in Wednesday's trading session. The provider of virtualization-based cloud infrastructure solutions issued some upbeat comments at its Strategic Forum for institutional investors. Shares of the company traded with gains of up to 10% during the trading session.

EMS & VMware Strategic Forum

Last December, EMC Corporation (EMC) and VMware launched the so-called "Pivotal" initiative, to benefit from the growing "big data" theme and demand for cloud-based solutions. Wednesday'spresentation gave some more information about the initiative.

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VMware: Re-Acceleration Of Long-Term Revenue Growth Guidance Provides Comfort For Investors

Shares of VMware (VMW) saw a big jump in Wednesday's trading session. The provider of virtualization-based cloud infrastructure solutions issued some upbeat comments at its Strategic Forum for institutional investors. Shares of the company traded with gains of up to 10% during the trading session.

EMS & VMware Strategic Forum

Last December, EMC Corporation (EMC) and VMware launched the so-called "Pivotal" initiative, to benefit from the growing "big data" theme and demand for cloud-based solutions. Wednesday'spresentation gave some more information about the initiative.

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Glatfelter - Good Acqusition Of Dresden Papier Sends Shares To Fresh Highs

Shares of P.H. Glatfelter Company (GLT) rose 7% in Wednesday's trading session. The manufacturer of specialty papers and fiber-based engineered materials announced the acquisition of Dresden Papier.

The Deal

P.H. Glatfelter announced that it has agreed to acquire Dresden Papier GmbH from Fortress Paper. The company will pay approximately $209 million, or 160 million euro for the German supplier of nonwoven wallpaper base materials.

Superior characteristics of nonwoven wallpapers include dry strip-ability, a higher tear resistance and no material expansion or shrinkage when getting wet. As a result demand for Dresden Papier's nonwoven products is increasing in both Europe and Asia. The company owns a 60,000 ton manufacturing facility, which employs 146 workers.

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Colgate-Palmolive - Strong Market Positions Justifies Premium Valuation

Shares of Colgate-Palmolive (CL) have been off to a good start in 2013. The consumer products conglomerate focused on toothpaste, toothbrushes and other personal care products reported a decent set of fourth-quarter results, followed by some shareholder-friendly initiatives, including a dividend hike and a stock split.

Shareholders applauded the moves and sent shares some 9% higher so far in 2013.

Analyst Group Presentation

In its analyst presentation in the final week of February, Colgatestates (pdf) that it is well positioned for the year of 2013. The company remains focused on its core operations, while being pro-active on new growth opportunities, and continues to find new ways to increase efficiency.

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Urban Outfitters: Strong Online Performance Supports Premium Valuation

Shares of Urban Outfitters (URBN) ended Tuesday's trading session up .75% after witnessing losses of up to 3% just after the opening. The retail apparel company, known for its brands like Urban Outfitters, Anthropologie, Free People and Terrain reported its fourth quarter results for its fiscal year of 2013, after the market close on Monday.

Fourth Quarter Results

Urban Outfitters generated fourth quarter revenues of $857 million, up 17% compared to the year before. Comparable retail sales rose 11%, driven by online direct-to-consumer channels, while comparable stores sales came in flat.

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Cadence Design Systems - Shareholders Not Applauding Strategic Acquisition Of Tensilica

Shares of Cadence Design Systems (CDNS) traded with losses of around 4% halfway through Tuesday's trading session. The leader in global electronic design innovation and silicon intellectual property announced that it has entered into a definitive agreement to acquire Tensilica.

The Deal

Cadence Design Systems announced that it has agreed to acquire Tensilica, a leader in dataplane processing IP, for a total consideration of $380 million in cash. Combined, the firms will deliver more optimized IP solutions for mobile wireless, network infrastructure, auto infotainment, and home applications. Tensilica employs some 200 workers who serve more than 200 licensees, including seven of the top 10 semiconductor companies. Since its inception, the company has shipped over 2 billion IP cores. CEO Lip-Bu Tan commented on the deal:

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Genuine Parts Company's Acquisition Of Exego Group Sends Shares To All-Time Highs

Shares of Genuine Parts Company (GPC) rose some 1.5% in Monday's trading session. The company which is focused on the distribution of automotive, industrial and electronic materials and parts, announced that it has acquired a 70% remaining stake in Exego Group.

The Deal

Genuine Parts Company announced that it has agreed to acquire the remaining 70% stake in Exego Group, headquartered in Australia. Genuine Parts will pay roughly $800 million for the remainder of the company, including the assumption of debt.

The company already purchased the first 30% stake in January of 2012 and has now lifted the option to acquire the remainder of the shares. Exego is a leading distributor of automotive replacement parts and accessories in Australia and New Zealand, operating more than 430 stores with more than 4,000 staff.

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Kroger: Expense Control, Solid Growth Send Shares Toward All-Time-Highs

Shares of Kroger (KR) ended trading last week on a strong note. The supermarket chain reported a strong set of fourth quarter results on Thursday before the market open. Shares ended Thursday's trading session with gains of approximately 3% and gained a similar percentage during Friday's trading session.

Fourth Quarter Results

Kroger generated fourth quarter revenues of $24.2 billion for the final quarter, up 12.8% on the year before. Sales growth was driven by the fact that the fourth quarter contained an extra working week. Excluding the extra week, sales were up by 3.7%. Identical supermarket sales growth for the quarter came in at 3.0%, just below the full year growth rate of 3.5%, and the third quarter growth rate of 3.3%. The quarter marks the 37th consecutive quarter in which Kroger managed to increase its identical sales.

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Foot Locker: Slow Down In Comparable Same-Store Sales Growth Is Sending Shares Lower

Shares of Foot Locker (FL) fell some 7.1% in Friday's trading session. The retailer of athletic shoes and apparel, which operates over 3,300 stores, issued a little inspiring outlook when the firm reported its fourth-quarter results before the market open.

Fourth-Quarter Results

Foot Locker reported fourth-quarter revenues of $1.71 billion, up 14.0% compared to the same period last year. Like many other retailers, Foot Locker's final quarter of 2012 included a 14th working week, which boosted the results. Comparable sales grew by 7.9%, trailing annual comparable sales growth of 9.4%. Revenues came in ahead of analysts consensus of $1.69 billion.

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The Fresh Market: Correction Continues As Same-Store Sales Growth Rate Keeps Falling

Shares of The Fresh Market (TFM) have fallen significantly in Wednesday's trading session after the specialty retailer announced a disappointing set of fourth-quarter results. Shares ended the day some 9.7% lower after trading with losses up to 14%.

Fourth-Quarter Results

The Fresh Market generated fourth-quarter revenues of $369.9 million, up 15.3% on the year before. Growth was mainly driven by new store openings as same-store sales growth came in at merely 1.9%. Same-store sales growth was entirely driven by a 2.0% increase in the number of transactions as store traffic fell by 0.1%.

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Hecla Mining - Shareholders Overreact As Company Makes A Bid For Aurizon

Shares of Hecla Mining (HL) saw a bad start to the trading week. Shares in the mining company focused on the development, production and marketing of silver, gold, lead and zinc fell more than 12% in Monday's trading session after the company announced its intentions to acquire Aurizon Mines (AZK).

Shares of the US listing of Aurizon rose 5.0% in a response to the news on Monday, but gave up all those gains on Tuesday.

The Deal

Hecla Mining announced that it has agreed to acquire Aurizon Mines, a Canadian-based gold producer with operations in the North-Western region of Quebec. Under terms of the deal, Hecla will acquire the shares of Aurizon for CAD $4.75 per share, or 0.9953 shares of Hecla.

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Ferro Corp. Management Has Little Credibility Moving Forward As A Standalone Company

Shares of Ferro Corporation (FOE) rose an incredible 30.8% in Monday's trading session. The producer of specialty materials and chemicals confirmed that it has received and rejected an unsolicited proposal from A. Schulman (SHLM) to acquire the business.

In a reaction to the news, shares of Ferro rose to $6.80 per share, trading 4.6% above the proposed take-out value. Shares fell back some 3% on Tuesday after the company reported its fourth quarter results. Shares of A. Schulman hardly reacted to the proposal which is surprising given that a possible deal would be significant for A. Schulman.

The proposal

Ferro Corporation announced that its board of directors received a proposal from A. Schulman to acquire the business for $6.50 per share in cash and stock. The board declined the offer, claiming that the deal would not be in the best interests of shareholders.

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Deckers Outdoor - Solid Revenue Growth Drives Share Recovery

Shares of Deckers Outdoor (DECK) ended the past trading week on a strong note. Shares rallied more than 15% after the company published a strong set of fourth quarter results on Thursday after the market close. Shares added another 2% in Monday's trading session.

Fourth Quarter Results

Deckers Outdoor generated fourth quarter revenues of $617.3 million, up 2.2% on the year before. Sales were driven by a 2.9% increase in UGG revenues, which make up 95% of firmwide sales. Strength in the smaller Sanuk brand was offset by weakness at the Teva brand. Revenues came in just below consensus estimates of $623.0 million.

As a result of the well-documented slowdown in revenues, as well as higher sheepskin input costs, margins are under pressure. Gross margins for the quarter fell by 470 basis points to 46.3%.

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J.C. Penney - Dramatic Holiday Quarter Shows That Transformation Is Still Causing Turmoil

Shares of J.C. Penney (JCP) lost 17% in Thursday's trading session, after recovering more than 5% from the lows of the day. The plagued retailer announced a very weak set of fourth-quarter results, triggering a renewed sell-off in its shares.

Fourth Quarter Results

J.C. Penney reported fourth-quarter revenues of $3.88 billion, down 28.4% on the year before. Sales fell sharply even as the fourth quarter included $163 million in sales from the 53rd week in 2012.

Comparable store sales fell an incredible 31.7% for the period. Even the internet activities, which typically show higher growth rates for most retailers, reported a 34.4% drop in sales to just $315 million. Sales fell way short of analysts expectations of revenues of $4.08 billion.

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First Solar: Sizable Sell-Off Creates Another Opportunity To Pick Up Some Shares

Shares of First Solar (FSLR) have had a terrible week. Shares of the solar company started the trading week on Monday around $34 per share.

From that point, shares slid away to $31 before the fourth quarter earnings release on Tuesday after the close. A poor earnings report sent shares to as low at $25-$26 on Wednesday, a level at which shares were still exchanging hands on Friday.

Fourth Quarter Results

First Solar generated fourth quarter revenues of $1.08 billion for the year ending 2012, up 63% on the year before. The strong performance was driven by an increase in revenue recognition of the Topaz project, as well as an increase in third-party module sales. Revenues were up 28% compared to the third quarter of 2012.

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