South State Corp
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Financials : Banks | Small Cap BlendCompany profile

South State Corporation (South State) is a bank holding company. The Company provides a range of banking services and products to its customers through its bank subsidiary, South State Bank (the Bank), a South Carolina-chartered commercial bank. The Bank provides a range of retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. The Company conducts its business from 170 financial centers across South Carolina, North Carolina, Georgia, and Virginia. It provides its customers with checking accounts, Negotiable Order of Withdrawal (NOW) accounts and alternative investment products. The Bank's securities available for sale consist mainly of debentures of government-sponsored entities, state and municipal bonds, and mortgage-backed securities.

Closing Price
$72.09
Day's Change
0.97 (1.36%)
Bid
--
Ask
--
B/A Size
--
Day's High
72.44
Day's Low
70.34
Volume
(Heavy Day)
Volume:
186,131

10-day average volume:
115,338
186,131

UPDATE: U[PDATE: Netflix shares soar 9% as Goldman adds stock to its Conviction List

1:00 pm ET January 4, 2019 (MarketWatch)
Print

Netflix Inc. shares (NFLX) soared more than 9% Friday, after Goldman Sachs added the stock to its Conviction List and said a pullback from record set last July presents an attractive buying opportunity. "We continue to believe Netflix's investment in content, technology and distribution will continue to drive subscriber growth well above consensus expectations both in the U.S. and internationally," Goldman analysts wrote in a note. "While we also believe that these investments and the associated cash burn (roughly $3bn in 2019E) will require it to return to the HY debt market over the next 3 years, we see a path for Netflix to both double its annual content investment and generate positive cash returns by 2022 while improving leverage and interest coverage ratios vs. 2018, as the company begins to fully amortize owned Originals." Separately, Imperial Capital reiterated its outperform rating on the stock, the equivalent of buy, and said it is still comfortable with estimates heading into the first-quarter earnings season. Analyst David Miller is sticking with his $459 stock price target, which is about 58% above Friday's trading level. Miller said the appointment of Spencer Neumann as CFO is positive, given his private equity background, having worked at Providence Equity Partners and Summit Partners from 2005 to 2012. Neumann was hired away from Activision Blizzard (ATVI), where he was also CFO. "This could prove advantageous, in our view, as Netflix, through its most recent $2.0 billion bond issuance on October 22, has become much more leveraged versus this time last year, and financial executives with private equity backgrounds tend to be, more often than not, ROIC (return on invested capital) focused, with debt, rather than equity as the core engine of growth," Miller wrote in a note. With long-term debt now standing at $8.33 billion, that's what Netflix needs, as free cash flow is still negative and the stock is still reflecting the sum of all free cash flows discounted into the future. Imperial is hoping that Netflix can decouple from "FAANG," the acronym that groups it with Facebook Inc. (FB), Amazon.com Inc. (AMZN), Apple Inc. (AAPL) and Google parent Alphabet Inc. (GOOGL). The stock's 40% gain in 2018 could have been bigger, were it not for the market psychology surrounding the other FAANG stocks, he wrote. The S&P 500 fell about 7% in 2018.

-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

January 04, 2019 13:00 ET (18:00 GMT)

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