As we are at the top of the 2014 proxy season, no-action letters filed over the past few months reflect some key trends that might be of interest to both companies and their investors. The activity around shareholder proposals becomes more clear as companies begin to file their proxy statements with the SEC. So far, for 2014 annual meetings, there have been 167 no-action requests submitt …Continue for Event Insights

BA

BA

The Boeing Company continues to expect FY 13 total revenues of $83 to $86 billion; pension expenses to be $3.2 billion; and capital expenditures of $2.3 billion. The Company now expects FY 13 GAAP EPS of $5.40 to $5.55, up from its prior guidance of $5.10 to 5.30; and core EPS of $6.50 to $6.65, up from $6.20 to $6.40; operating cash flow to be greater than $7 billion, compared to $6.5 billion; R&D expenses of $3.2 billion, compared to $3.3 billion; and operating cash flow before pension contributions to be greater than $8.5 billion, compared to greater than $8 billion as guided earlier. The guidance was provided along with 3Q 13 financial results.
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CNX

CNX

CONSOL Energy Inc. expects 4Q 13 gas production to be 46 to 48 Bcfe and coal production to be between 13.6 million to 14 million tons. For FY 13, the Company now expects FY 13 gas production to be 170 to 172 Bcfe, down from its prior guidance of 170 to 175 Bcfe and total coal production to be 56.7 million to 57.1 million tons, down from its prior production guidance of 55.5 to 57.5 million tons. The guidance was provided along with an 3Q 13 operational update.
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JNJ

JNJ

Johnson & Johnson now expects FY 13 EPS to be in the range of $5.44 to $5.49, up from its prior guidance of $5.40 to $5.47. The guidance excludes the impact of special items. This guidance was provided along with 3Q 13 financial results.
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DPZ

DPZ

Domino's Pizza Inc. declared a quarterly dividend of $0.20 per share. The dividend is payable on Dec. 30, 2013 for shareholders of record as of Dec. 13, 2013,
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SWY

SWY

Safeway Inc. reported 3Q 13 financial results and provided FY 13 guidance on continuing operations. The Company now expects FY 13 GAAP EPS from continuing operations to be $0.95 to $1.02; adjusted EPS from continuing operations to be $0.93 to $1.00; operating profit margin to improve 5 basis points; adjusted operating profit margin to improve 10 to 15 basis point; adjusted EBITDA to be $1.655 to $1.685 billion; proforma adjusted EBITDA to be $1.67 to $1.70 billion; adjusted net cash flow from operating activities to be $1.3 to $1.4 billion; free cash flow to be $600 to $650 million and capital expenditures to be $850 to $875 million, excluding Canada Safeway Limited. The company previously guided for FY 13 GAAP EPS from continuing operations to be $1.07 to $1.17; adjusted EPS from continuing operations to be $1.02 to $1.12; operating profit margin to improve 8 to 18 basis points; adjusted operating profit margin to improve 15 to 25 basis points; adjusted EBITDA to be $1.685 to $1.715 billion; proforma adjusted EBITDA to be $1.70 to $1.73 billion; adjusted net cash flow from operating activities to be $1.3 to $1.5 billion; free cash flow to be $600 to $700 million and capital expenditures to be $900 million to $950 million, excluding Canada Safeway Limited.
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WFC

WFC

Wells Fargo & Company reported results for 3Q 13 ended Sep 30, 2013. Revenues were $20.48 billion compared to $21.21 billion for the last year same quarter. Net income was $5.58 billion compared to $4.94 billion. EPS was $0.99 compared to $0.88 last year.
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LTD

LTD

Limited Brands, Inc. (now known as L Brands, Inc.) reported net sales of $786.0 million for the five weeks ended Oct. 5, 2013, compared to net sales of $773.6 million for the five weeks ended Sept. 29, 2012. The company reported a comparable store sales increase of 1% for the five weeks ended Oct. 5, 2013 compared to the five weeks ended Oct. 6, 2012. The company reported net sales of $6.275 billion for the 35 weeks ended Oct. 5, 2013, an increase of 5% compared to sales of $5.992 billion for the 35 weeks ended Sept. 29, 2012. The company reported comparable store sales increase of 2% for the 35 weeks ended Oct. 5, 2013, compared to the 35 weeks ended Oct. 6, 2012.
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DEST

DEST

Destination Maternity Corporation now expects 4Q 13 GAAP EPS to be in the range of $0.40 to $0.42, up from its prior guidance of $0.32 to $0.38; and earnings to exceed the top end of its prior earnings guidance range. The Company had previously expected 4Q 13 non-GAAP EPS of $0.35 to $0.41. For FY 13, the Company now expects GAAP EPS of $1.76 to $1.78, up from its prior guidance of $1.68 to $1.74; non GAAP EPS growth of 14% to 16% vs. FY 12. The Company previously guided FY 13 non GAAP EPS to be between $1.81 and $1.87. This guidance was provided along with 4Q 13 comparable store sales results.
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SIRI

SIRI

Sirius XM Radio Inc. announced that its Board of Directors has approved an additional $2 billion common stock repurchase program. Shares of common stock may be purchased from time to time on the open market and in privately negotiated transactions, including in transactions with Liberty Media and its affiliates. The Company will fund the repurchases through cash on hand, future cash flow from operations and future borrowings.
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