Pace Plc Share Discussion Threads

[mbhesms] 01/9/2016 11:48

IBC2016 Exhibition dates: 9 - 13 September 2016



This is a popular event for making new product announcements, demonstrating working prototypes and inking deals (and for engineers having near nervous breakdowns as they rush to get the prototypes fully functional and shipped in time.)

E.g.

Headline: ARRIS demonstrates what the Gigabit connected home will look like and the tech needed to support it

Link:

Quote: “Not only can the gateway provide a smart way of optimizing Wi-Fi, it can also function as the client controller for mABR (multicast adaptive bit rate streaming) cache time-shift TV services, or coordinate IoT devices,” ARRIS points out.

My comment: The (now traditional) set-top box was a lump of technology that enabled savings in bandwidth (using MPEG) and a means to charge customers for the services they use (via conditional access systems). The newer gateways look like they will act as an adaptor between the WAN and the variety of home LAN technologies, an adaptor between when content is broadcast and when it is wanted (because home time shifting has different cost/quality from network based), and as a coordinator and adaptor for simple IoT devices and online services, e.g. connecting healthcare services to monitoring devices around the home: e.g. is Grandad turning the (Zigbee enabled) lights on & off as he goes around the house.

What I'm getting at here is that there should still be a market for a specialised device to be sold / rented to the consumer that will be valued by both the consumer and the service provider. The question remains as to whether these gateway devices will become commodities like PCs or remain high margin customised devices as STBs have been.

[1carus] 31/8/2016 19:32

rally up to xmas perhaps?

[freddie01] 31/8/2016 08:17

Ungewöhnliche Fenster. Unusual windows.Photo by *open*your*eyes on Flickr



Lake Macdonald, Mary River Cod Park © by AanikoAnnie





Goodnight all



Abandoned Mine entrance @ Blaencwm, South Wales



Colombia

[freddie01] 30/8/2016 08:28

The Weeping Stones

Photographed off the coast of Okayama, Japan, The Weeping Stones is a photo series by the creative duo Trevor Williams and Jonathan Galione of Tdub Photo that captures the eerie blue light emitted by a native species of bioluminescent shrimp. More commonly referred to as sea fireflies, these rare creatures live in the sand in shallow sea water, floating somewhere between the extremes of high and low tide. At just 3 mm in length the shrimp are extremely small light sources, but when grouped together they take on abstract patterns that light up the water around them.



Durham, England (by mbphotograph)



“Destinations” by Trey Ratcliff



Brihadeshwara Temple is a Hindu temple dedicated to Shiva located in Thanjavur in the Indian state of Tamil Nadu. It is also known as RajaRajeswara Temple ..



Imagination by Korawee R. at “Sirindhorn Wararam Phu Prao”, Thailand



Najac, France…





The Library Of Celsus In Ephesus, Anatolia



Eilean Donan Castle

[freddie01] 29/8/2016 07:40

Laguna Huemul, Chillan, Chile.



Abandoned boat off the Oregon Coast





Cibola Sunset by Guy Schmickle



— Lembrou de mim?
Suspirei.
— Nunca te esqueci.



New brunswick



とど429;き。



Balanced Rock, Arches, Utah



Fading frescos of Christ and the disciples at the Kobayr monastery in Armenia.





Manuel Antonio doesn’t disappoint © by oscarwastaken



Trift Bridge



the collapse

by matialonsor



Vik, Iceland



“Destinations” by Trey Ratcliff at stuckincustoms.com

[freddie01] 28/8/2016 08:37

Argentina is okay



The Church of San Pietro (St. Peter) in Chianocco, Italy. It was built in the 11th century and deconsacrated and abandoned after a flood in 1694



Solar eclipse © by RedBullPhotography



Abandoned railway platform, Katoomba NSW Australia



Downside up © by ericpare



Tule , Vietnam on 500px by KitchaKron sonnoy, Bangkok, Thailand



Photography by Feffef



Trollveggen by Stian Klo on 500px.com



Crystal Water at Lake Tahoe



iraq nice by Ali Sabih Kadhim



Étretat In The Sunset | by Jakub Slováček

[freddie01] 27/8/2016 08:05

Colors of nature © by Natureimages



Kennicott Mine in Wrangal St Elias National Park



History’s Portal by Brandon Donnelly

Tintagel Castle, Cornwall, England



The National William Wallace Monument, Stirling, Scotland, United Kingdom



Banff National Park // Michael Shainblum



Sunset At Blue Lagoon by Andrew Ray



Takachiho Gorge, Miyazaki by Taylor-Gabrielle



Pea Soup Lake, Washington
Jeremy Duncan



Isle of Skye, Scotland

photo via susan



I Love monsoon season

© 2015 Bruno-Max Photography, all rights reserved



Ramsau…





Whitby, England (by mbphotograph)



Atlanterhavsveien Reprise

[sikhthetech] 26/8/2016 20:57

1gw, thanks for the update re HL...I still have some to sell...

[terminated] 26/8/2016 18:57

Let me know how smooth the change over goes 1gw, I am thinking of moving my Share ISA to TD Waterhouse.

[1gw] 26/8/2016 16:29

Good news on the Hargreaves Lansdown dealing charge - no 2% stamp duty charge on sales and no longer have to do telephone dealing.

In my continuing quest to rebalance my portfolio I have taken some more off the table today at $27.29 (TD Direct) and $27.20 (HL). It is not that I no longer believe in the potential of Arris, it is just that I don't see a reason to have it at such an overweight given other opportunities. I would also like to protect this year's portfolio gains, given last year's experience of seeing them melt away somewhat after the initial merger spike in Pace, and diversifying away from Arris seems to offer a reasonable chance of doing this.

So Arris now down to about 10% of my portfolio, still my largest holding, but only just.

When I called HL to place the trade by phone (as per HL instructions) I was told that I could now deal online and that as of a couple of weeks ago, the market makers had told HL that the 2% stamp duty charge was no longer applicable. Having placed the deal online (I had to do a "fill or kill" with a limit but it went through in a few minutes) I can confirm that there appears to be no stamp duty charged - just the forex markup. So whether HL are no longer settling through CREST (so the MMs don't have to move them back into DTC upon sale) or whether the MMs have found a different solution I don't know. I have been talking to TD Direct about moving an account to them and they have suggested that even if my shares are in the Crest system with the other broker, TD Direct might be able to "cross-border" them when they get to TD so that after that they can be sold without the stamp duty charge. So maybe HL's MMs are doing something similar.

[alexmcdonald] 26/8/2016 13:28

It will be good to hear Bruce McClelland early into his new role.

[freddie01] 26/8/2016 07:51

Halnaker Tree Tunnel in Autumn by Daniel Smith



Beautiful path
Aelgäu, Switzerland

by Rodrigo Carabajal



Out of Night By josefontheroad



Spirit Island, Alberta Canada. Vlog here - youtube.com/benbrown



Victoria Falls | Zambia (by Clare Forster)



Tourmaline - Chia Mine, Minas Gerais, Brazil



Canada Day in Banff



Schofield Pass, Colorado



The Valley of the Mills. Sorrento, November 2015.





苍坡476;村棋馆的806;墙。棋馆977;面围着人$896;河，只能$890;过跨越河700;的木板才$827;去。

The outside of the old chess hall in Cangpo Ancient Village, the hall is surrounded on three sides by a canal and accessed via a wooden gangway.



race Cluses to Beaufort, base of the Aravis…



Cottage in St. James Park, London, England

by Claude Schneider



Topiary Cat

by Richard Saunders

[sleepless1] 25/8/2016 16:29

..........more important than that, my freezer has broken down and I have lost my lamb shanks, lamb chops and mackerel. Total depression. Rgds.,S1.

[1gw] 25/8/2016 15:28

ARRIS To Present At Drexel Hamilton Telecom Media & Technology Conference

First public outing for Bruce McLelland in his new role.

[1gw] 25/8/2016 07:52

Short interest on a bit of a downward trend recently:

15th Jul 7.3m shares
29th Jul 6.3m shares
15th Aug 4.9m shares

[opmoc] 25/8/2016 01:12

I have had enormous fun investing with Pace - but this could be my final words on Pace...You see although I once owned a ridiculously large number of shares that I bought for about 20p etc..if you know the history of Pace - to be honest I thought they were Brill and I even turned up at least one of their AGMs.

You see I tried to sell the remnants of the paper shares I had left - which I only kept - so they would send me all the documentation.

I think I may now be both Pace and Arris Free -but I am not sure -cos all this selling Arris American - what do they do Carpets?..has to be done by a complicated sequence of both online and snail mail and phone calls - until you get the correct piece of paper...so I guess I will find out in a couple of weeks if the cheque turns up.

I'm fine by the way...still as mad as ever and still in love with the same girl.

I'm a Grandad now too

We still have a lot of shares in the British Company I worked for.

I've been retired since 2004. Even now I look 10 years younger and am fitter than when I was working. My wife is stunningly beautiful (35 years together) and we've already been to about 5 Rock festivals camping this year. I've got several walking sticks now...and two rather nice British cars. I don't have a wheelchair and my long hair hasn't fallen out.

I would recommend retiring - instead of staring at a computer screen all day..Spending or giving your money away. Some of you must be really rich by now. (according to the numbers in the computer register). That's unless you've already dropped dead...in which case you have largely wasted your time.

Tony

[1gw] 24/8/2016 14:34

Needham & Co re-iterate "Buy" and $32 target.

"We expect the transition is likely to be relatively seamless, given the long tenure of Mr. McClelland and the continued involvement of Mr. Stanzione. We maintain our Buy rating and $32 price target, equivalent to ~11x our 2017 NG EPS estimate."

[alexmcdonald] 24/8/2016 13:00

1gw - I agree with you regarding the McClelland / Stanzione combination providing stability going forward and like you, I too was surprised to see the 'approaching $7 billion revenue forecast. I have a feeling that the Pace acquisition being fully integrated earlier than first expected, that we could actually see revenues of at least $7 billion for this year.

[1gw] 24/8/2016 08:52

I would hope this is taken positively. The McLelland/Stanzione combination provides continuity while promoting someone who has presumably been instrumental (as President Network & Cloud + Global Services) in delivering the tremendous recent success of the N&C segment in general and the E6000 in particular. Stanzione's age must have been starting to become a factor and it is good to see the change announced before it was forced. The only potential negative I see is from the corporate governance angle, letting the previous CEO stay on in an executive role in the boardroom - but at least the roles of CEO and chairman are split and even that's a subject for debate in the US, most notably with Jamie Dimon at JP Morgan.

I also wonder if we can read anything in to the statement "projected 2016 revenues approaching $7 billion" when the previous official guidance is "at the high end of" $6,600m-$6,800m. Probably close enough to count as rounding I suppose.

[alexmcdonald] 24/8/2016 00:04

Me too. I wondered who would succeed Bob Stanzione but is good that he is still there to guide the ship as President. How will the market react later today (UK time)?

[bashor] 23/8/2016 23:37

I've just read the news

[1gw] 23/8/2016 12:33

mbhesms - that first article is not one of the best in terms of trying to put a story round a few numbers. But at its heart it's just picking up on the latest Zacks rating and as you say looking at the trend of analyst recommendations.

Zacks is very much a short-term system. Their own site linked below describes the Zacks rating as "our short term rating system that serves as a timeliness indicator for stocks over the next 1 to 3 months". I've commented on the past here how quickly it can swing from "strong buy" (e.g. 29th Feb) to "strong sell (e.g. 21st March) without any obviously game-changing news in the meantime. In this way it is different from most of the analyst recommendations we see (e.g. RBC, Jefferies, Needham & Co) reported on somewhere like the marketbeat site or in aggregate on Arris' own site which I believe in general are making recommendations over a 1-year or 2-year timeframe based much more on fundamentals than momentum and other short-term considerations.



The optionmonster site is also aimed at traders / short-term investors I think. There's a trader who talks regularly on CNBC about "unusual activity" he has spotted in options trading - he is looking for this as an indication that either someone knows something or someone is sufficiently confident of their own analysis to take a big position on a short-term basis - and he will often "follow the money" i.e. take out an aligned position himself hoping to benefit when the share price moves in favour of the options position. But he does so with a timeframe of days and with a clear stop loss.

In terms of the specific positions the optionMonster piece is talking about, it is suggesting an investor cashed out 2500 August 22.50 call options (each call is the right to buy 100 Arris shares at $22.50 each I think) at $4.50 and $4.60 (raising about $1.1m I think: 2500x100x$4.55 say) and re-invested in 5000 November 27.50 calls at $1.65 each, costing $0.8m (5000x100x$1.65). Although it appears the investor took some money off the table, the position in Arris is still doubled and each $1 move in the share price should move the value of the position by about $0.5m (i.e. 5000x100x$1).

You can see what appears to be a table of all open positions on the Nasdaq site linked below (I chose the "out of the money" list, but you can also specify "in the money" or "near the money").