L Brands Lifts Q1 Profit View; Stock Up

Lumentum’s Board Continues To Recommend Coherent Transaction To Stockholders

Lumentum Holdings Inc. (LITE) said Coherent, Inc. (COHR) has informed the company its intention to terminate merger agreement. The Board of Coherent determined that an unsolicited acquisition proposal from II-VI (IIVI) to acquire Coherent in a cash and stock deal constitutes a Superior Proposal.

Lumentum said it has until 11:59 p.m. on March 17, 2021 to amend its transaction agreement or waive matching rights, and does not expect to make further comments on the matter until that time.

Lumentum’s Board continues to recommend the deal with Coherent to its stockholders.

Industrial production contracts 1.6% in January

Mining output declined 3.7%, while power generation grew 5.5% in January.

India’s industrial production contracted by 1.6% in January, official data showed on Friday.

According to the Index of Industrial Production (IIP) data, the manufacturing sector output contracted by 2% in January 2021.

Mining output declined 3.7%, while power generation grew 5.5% in January.

The IIP had grown by 2.2% in January 2020.

Veterans Group Scorches Tucker Carlson’s ‘Pathetic Prep School Ass’ With New Ad

The hashtag #TraitorCarlson trended on Twitter Friday following the release of a new ad calling out Fox News personality Tucker Carlson’s attacks on the military.

Carlson faced fierce criticism from military leaders this week after he mocked pregnant women service members and appeared to suggest America’s forces are becoming more “feminine” under President Joe Biden.

Progressive PAC VoteVets, which seeks to increase the number of Democratic veterans in Congress, hit back with this video:

The 48-second spot ends with footage of Carlson posing for the camera during his short-lived spell on Season 3 of “Dancing With The Stars.”

“They have fought, bled, and died for Tucker Carlson’s pathetic prep school ass to sit in that chair and mock them,” the group captioned the clip. “We’re not gonna stand for it, and neither should you.”

Carlson’s prep school resume includes a Swiss boarding school and the exclusive La Jolla Country Day School in California.

Mary Trump, the niece of ex-President Donald Trump, led the charge in sharing the clip far and wide on Twitter:

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Baxter Receives FDA 510(k) Clearance For Artificial Kidney 98 Dialysis Machine

Baxter International Inc. (BAX) said Friday that it has received U.S. FDA 510(k) Clearance for its next-generation Artificial Kidney 98 dialysis machine. It is designed to be a portable and easy-to-use system to administer hemodialysis or HD treatments.

Artificial Kidney 98 or AK 98 offers encrypted, two-way connectivity, which enables the system to pull prescriptions directly from the electronic medical record (EMR) for simplified workflow and data handling.

According to the company, AK 98 is currently used in more than 90 countries globally and will be available in the U.S. in the coming week.

AK 98 offers several key features to help dialysis providers efficiently manage HD treatment sessions across chronic dialysis and hospital care environments. It includes Automatic Alert Resolution that enables the machine to self-clear already corrected pressure alarms and avoid unnecessary stoppage of treatment due to brief pressure fluctuations often related to patient movement.

AK 98 could be used alongside Theranova, Baxter’s novel dialysis membrane.

The AK 98 dialysis machine is indicated to be used on patients with a body weight of 25kg or more. The AK 98 dialysis machine is not intended for selfcare or home use, the company said in a statement.

Curt Schilling’s 2004 bloody sock (not that one) up for auction

Beginning March 17, collectors can bid on Curt Schilling's bloody sock — no, not that one. 

This stained stocking is the one Schilling slipped onto his right foot before Game 2 of the 2004 World Series; the more lasting "bloody sock" image of Schilling occurred earlier in the playoffs, during Game 6 of the ALCS against the New York Yankees. 

The three-time World Series champion pitched six innings while giving up one unearned run as the Red Sox went up 2-0 over the St. Louis Cardinals on the way to winning their first championship in 86 years. 

Schilling asked to be removed from the Baseball Hall of Fame ballot in January after failing to eclipse the 75% threshold for induction all nine years he was eligible. He came in at 71% (16 votes shy) in 2021 voting. 

In 2016, ESPN fired Schilling from his on-air analyst role for sharing insensitive social media posts, a trend the six-time All-Star has continued in recent years and included support for Jan. 6 rioters at the U.S. Capitol Building. 

L Brands Lifts Q1 Profit View; Stock Up

L Brands Inc. (LB) said it raised its first quarter earnings per share guidance, due to strong sales and margin results quarter-to-date, which also contributed to an improvement in its expectations for the remainder of the quarter.

In Friday pre-market trade, LB was trading at $58.52 up $2.67 or 4.78 percent.

The company increased its first quarter earnings per share guidance to a range of $0.55 – $0.65 from the prior range of $0.35 – $0.45. The outlook excludes any charges related to the early extinguishment of debt. Analysts polled by Thomson Reuters expect the company to report earnings of $0.43 per share for the first-quarter. Analysts’ estimates typically exclude special items.

The company said its board authorized the repayment of $1.035 billion of debt through a call of all $285 million of the outstanding bonds due February 15, 2022 and all $750 million of the outstanding secured bonds due July 1, 2025. The company anticipates using $1.1 billion in cash to complete the debt repayment.

The company board also authorized a new $500 million share repurchase plan. It includes the company’s entry into a Rule 10b5-1 repurchase plan to effectuate share repurchases up to $250 million. The new repurchase plan replaces the remaining $79 million under the previously authorized program.

The company board also authorized a reinstatement of the company’s annual dividend at $0.60 per share, beginning with the quarterly dividend to be paid in June 2021.