Tesla (TSLA) Investors Should Keep an Eye on Mobileye (MBLY) as Driverless Car Tech Ramps Aug 1, 2014 11:03AM

Those investing in Tesla (Nasdaq: TSLA) might be liking today's early stock action, but there's another company to watch if you'd like to see some one-off gains on the company's growth.

Mobileye N.V. (NYSE: MBLY) launched its IPO on Friday morning, with 35.6 million shares pricing at $25 and opening for trade at $36. The company is a leader in the design and development of software and related technologies for camera-based Advanced Driver Assistance Systems.

Telsa's Musk has been a fan of the self-driving car concept and recently said at the company's 2014 annual meeting "I'm confident that in less than a year, you'll be able to go from highway on-ramp to highway exit without touching any controls." This could be a boon for Mobileye not just from a pure orders standpoint, but further adoption of the technology throughout the industry.

While it isn't clear whether Mobileye will supply self-driving components and software to Tesla, Tesla did recently affirm that it had "a business relationship" with Mobileye.

Musk has also been a fan of using an optical system versus a sensor system, like what Google (Nasdaq: GOOG) is looking to use in the future. Most of the argument is that a sensor system would be too expensive. Coincidentally, Mobileye is focused mainly on a visual system with its components.

Other automakers like Daimler, BMW, Nissan, and more might also warm to the technology. Many higher-end autos currently have "smart" systems installed which aid with cruise control, lane drifting, and braking, though none would be deemed advanced enough to drive a car by itself.

Mobileye will be one to keep an eye on over the next several months as driverless car technology continues to make headlines. Shares are up modestly from the $36 open.

Loxo Oncology (LOXO) IPO Opens Flat, Trends Lower Aug 1, 2014 10:56AM

Today's IPO for Loxo Oncology, Inc. (Nasdaq: LOXO) opened for trading at $13.07 after pricing 5,261,538 shares of its common stock at a price to the public of $13.00 per share. Shares have since moved lower to $12.76, down 1.9%.

Cowen and Company, LLC and Stifel are acting as joint book-running managers for the offering. JMP Securities LLC and Oppenheimer & Co. Inc. are acting as co-managers.

Loxo Oncology is a biopharmaceutical company focused on developing targeted cancer therapies for genetically-defined populations

Mobileye (MBLY) IPO Opens at $36 Aug 1, 2014 10:32AM

Today's IPO for Mobileye N.V. (NYSE: MBLY) opened for trading at $36 after pricing 35,589,000 ordinary shares at $25 per share, above the recently raised range of $21 to $23 per share. The offering size was also increased from 27,750,000 shares.

Goldman, Sachs & Co. and Morgan Stanley & Co. LLC are acting as lead book-running managers for the offering. Deutsche Bank Securities Inc. is a joint book-running manager and Barclays Capital Inc. and Citigroup are also acting as book-running managers. Wells Fargo Securities, LLC, Robert W. Baird & Co., Incorporated, William Blair & Company, L.L.C. and Raymond James & Associates, Inc. are acting as co-managers.

​Mobileye is the global leader in the design and development of software and related technologies for camera-based Advanced Driver Assistance Systems (“ADAS”) . The company's technology keeps passengers safer on the roads, reduces the risks of traffic accidents, saves lives and has the potential to revolutionize the driving experience by enabling autonomous driving.

The company's technology was first included in serial models in 2007. They estimate that their products were installed in approximately 3.3 million vehicles worldwide through March 31, 2014. By the end of 2014, the company's technology will be available in 160 car models from 18 original equipment manufacturers (“OEMs”) worldwide.

For the years ended December 31, 2013, 2012 and 2011, total revenues were $81.2 million, $40.3 million and $19.2 million, respectively, representing year-over-year growth in total revenues of 102% and 110% for our two most recent fiscal years. Over the same periods, they improved from net losses of $13.4 million in 2011 and $53,000 in 2012, to net income of $19.9 million in 2013. Total revenues in the three months ended March 31, 2014 and 2013 were $35.6 million and $11.7 million, respectively, and net loss was $19.6 million and $2.6 million, respectively. Net income (loss) excluding the effects of share-based compensation, a non-GAAP measure, was $12.6 million and $1.9 million in the three months ended March 31, 2014 and 2013, respectively, and $33.1 million, $1.8 million and $(12.3) million in 2013, 2012 and 2011, respectively.

VTTI Energy Partners LP (VTTI) IPO Opens Flat, Trades Higher Aug 1, 2014 10:08AM

Today's IPO for VTTI Energy Partners LP (NYSE: VTTI) opened for trading at $21 after pricing 7,500,000 common units representing limited partner interests at $21.00 per common unit. Shares have since moved up to $23.05, up 9.8%.

Citigroup, J.P. Morgan, BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities, and Wells Fargo Securities are acting as joint book-running managers for the offering, and Rabobank, MUFG, BNP Paribas, HSBC, Societe Generale, SMBC Nikko, Credit Agricole CIB, and ING are acting as co-managers for the offering.

VTTI Energy Partners LP is a limited partnership formed in April 2014 by VTTI B.V. to own, operate, develop and acquire refined petroleum product and crude oil terminaling and related energy infrastructure assets on a global scale.

FCB Financial Holdings (FCB) IPO Opens Lower Aug 1, 2014 09:48AM

Today's IPO for FCB Financial Holdings, Inc. (NYSE: FCB) opened for trading at $20.50 after pricing 7,520,000 shares of Class A common stock at a public offering price of $22.00 per share.

Deutsche Bank Securities, J.P. Morgan, BofA Merrill Lynch and UBS Investment Bank are acting as joint book running managers for the offering. Keefe, Bruyette & Woods, A Stifel Company, is acting as lead manager and Guggenheim Securities and Hovde Group are acting as co-managers for the offering.

FCB Financial Holdings, Inc. is a bank holding company with one wholly-owned national bank subsidiary, Florida Community Bank, National Association, headquartered in Weston, Florida, which operates 54 branches in Florida. Florida Community Bank offers a comprehensive range of traditional banking products and services to individuals, small and medium-sized businesses, some large businesses, and other local organizations and entities in its market areas. The Bank targets commercial customers engaged in a wide variety of industries including healthcare and professional services, retail and wholesale trade, tourism, agricultural services, manufacturing, distribution and distribution-related industries, technology, automotive, aviation, food products, building materials, residential housing and commercial real estate.

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