Citizens Financial Group Inc (NYSE:CFG) reported Q3 earnings that were better than the Street expected while the board declared a $0.10 dividend. Net income was $189 million, or $0.34 per diluted common share, compared with $144 million, or $0.26 per diluted common share, for Q3 2013. Q3 2014 results were reduced by $0.02 per diluted common share related to net restructuring charges and special items. Adjusted EPS of $0.36 in Q2 2014 compares with $0.26 in Q3 2013. The Street expected $0.35 per share in earnings, according to Capital IQ estimates. Citizens Financial Group Inc (NYSE:CFG) also declared a quarterly cash dividend of $0.10 per common share. The dividend is payable on November 20, 2014 to shareholders of record at the close of business on November 6, 2014. Total adjusted revenue was $1.16 billion, flat with the second quarter. Revenue estimates were not available. CFG trades in a 52-week range of $21.35 to $23.61.CBIZ, Inc. (NYSE:CBZ) reported Q3 income and revenue that topped the Street view while also improving over year ago levels. Income from continuing operations was $7.3 million, or $0.14 per diluted share, compared with $5.5 million, or $0.11 per diluted share, reported in Q3 2013. Adjusted EBITDA was $19.7 million, compared with $16.7 million for the Q3 2013. The Street expected $0.12 per share in earnings, according to Capital IQ estimates. CBIZ reported revenue of $183.8 million, an increase of $15.0 million, or 8.9%, compared with $168.8 million for Q3 2013. The Street expected $179 million, according to Capital IQ estimates.For 2014, CBIZ, Inc. (NYSE:CBZ) expects continued improvement in same-unit revenue growth rates, total revenue growth within a range of 5% to 7%, and growth in diluted earnings per share from continuing operations within a range of 15% to 18% over 2013, assuming a constant share count compared with 2013. CBZ trades in a 52-week range of $7.61 to $9.45 with shares having closed down 0.5% at $8.49 on Friday.Valeant Pharmaceuticals said Monday it delivered a letter to the board of pharmaceutical maker Allergan, Inc. (NYSE:AGN), regarding a lack of response to its buyout bid, and said it was prepared to make an offer worth $200 a share for AGN. The Monday letter from J. Michael Pearson, VRX chairman and CEO, said in part, "One month ago I extended an olive branch, which was summarily rejected the same day. You have refused all of our offers to meet and answer any questions you may have about Valeant (VRX) or about our offer. Instead, you have allowed management to continue making baseless attacks. Our third quarter earnings have clearly refuted those attacks and fully validated our business model."Pearson added that Allergan, Inc. (NYSE:AGN) "would not be trading anywhere near where it is absent our offer...." Pearson noted that AGN traded at $117 a share before the VRX bid, and now is trading at $184.21. Pearson added that VRX is "prepared to improve its offer and provide value to your shareholders of at least $200 a share." Pearson recommended the AGN board negotiate a sale, bypassing AGN management. ADN is trading in a 52-week range of $88.34 to $192.98 a share.
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