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Stock Market & Financial Investment News

News For AAPL;FB;RSH;TGT;EXPR;SNTS;LULU;GIVN From The Last 14 Days
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February 25, 2015
08:02 EDTTGTTarget says seeing early momentum in efforts to transform company
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08:01 EDTTGTTarget sees Q1 adjusted EPS 95c-$1.05, consensus $1.04
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08:01 EDTTGTTarget reports Q4 adjusted EPS $1.50, consensus $1.46
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08:00 EDTTGTTarget reports Q4 adjusted EPS $1.50, consensus $1.46
07:27 EDTAAPLApple reportedly creating streaming music service, may relaunch iTunes, BI says
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07:13 EDTAAPLApple price target raised to $150 from $130 at Stifel
Stifel increased its price target on Apple as the firm thinks the company "has more than enough capacity" to increase its dividend to $2.30-$2.40 per share. The firm indicates that it believes that Apple can reduce its tax rate. Stifel keeps a Buy rating on the stock.
06:22 EDTAAPLJury orders Apple to pay $533M for patent violations, Reuters reports
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06:01 EDTAAPLGlobal tablet shipments forecast at 221.4M units in 2015, DigiTimes says
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05:56 EDTFBFacebook implied volatility of 25 at lower end of index mean range
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05:55 EDTTGTTarget implied volatility of 25 at upper end of index mean range
February 24, 2015
16:06 EDTAAPLOptions Update; February 24, 2015
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15:21 EDTTGTNotable companies reporting before tomorrow's open
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14:47 EDTTGTTarget technical comments ahead of earnings
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14:35 EDTAAPLMicron retreats amid pricing, Apple worries but analysts defend shares
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12:53 EDTTGTEarnings Preview: Target sees Q4 adjusted EPS $1.43-$1.47, above prior view
Target (TGT) is scheduled to report fourth quarter results before the market open on Wednesday, February 25, with a conference call scheduled for 10:30 am ET. Target offers merchandise at discounted prices through its retail stores and online business. EXPECTATIONS: Analysts are looking for earnings per share of $1.46 on revenue of $21.64B, according to First Call. The consensus range for EPS is $1.44-$1.49 on revenue of $21.42B-$21.94B. LAST QUARTER: Target reported third quarter adjusted EPS of 54c on revenue of $17.73B, against estimates for 47c and $17.56B, respectively. The company said U.S. segment comparable store sales were up 1.2% in Q3, reflecting digital sales growth of over 30%, with Canadian segment SSS up 1.6%. In an interview with CNBC following the earnings report, Chief Executive Officer Brian Cornell said that the company was "not happy" with Target Canada's performance and that the company has "upped our game" with respect to data security. Cornell said the company viewed Q4 as a "notable inflection point." NEWS: In January, Target announced that it plans to discontinue operating stores in Canada through its indirect wholly-owned subsidiary, Target Canada. The company said it expects to report approximately $5.4B of pre-tax losses on discontinued operations in Q4, driven primarily by the write-down of the company's investment in Target Canada, along with costs associated with exit or disposal activities and quarter-to-date Canadian Segment operating losses prior to today. Target expects to report approximately $275M of pre-tax losses on discontinued operations in FY15. Target expects this decision will increase its earnings in FY15 and beyond, and increase its cash flow in fiscal year 2016 and beyond. Based on performance through November and December, Target now expects to report Q4 U.S. comparable sales of approximately 3%, better than prior guidance of approximately 2%, driven primarily by increased traffic and stronger-than-expected digital sales. The company raised its Q4 adjusted EPS view to $1.43-$1.47 from $1.13-$1.23. The company said GAAP results are expected to include losses related to liquidation of Target Canada,net of taxes, net expenses related to the 2013 data breach, which are not expected to be material, the impact of the reduction of the beneficial interest asset recognized in connection with the 2013 sale of the companyís credit card portfolio, which is expected to reduce GAAP EPS by approximately 2c. The company noted that the "vast majority" of exit costs from Canada are non-cash and said the exit will allow a quicker return to share repurchases. During the quarter, Target named Mike McNamara as executive VP and Chief Information Officer. Target said it is planning open 15 stores in FY15, including three distinct store formats: eight TargetExpress locations, one CityTarget and six general merchandise stores. The U.S. Supreme Court declined to hear a challenge by retailers including Target to the Federal Reserve's rules for debit card "swipe fees," meaning the U.S. Court of Appeals for the District of Columbia Circuit decision, which upheld the rules, will must be followed, said Reuters. New York Attorney General Eric Schneiderman sent a letter to Target and other retailers for "allegedly selling store brand herbal supplement products in New York that either could not be verified to contain the labeled substance, or which were found to contain ingredients not listed on the labels." The letters call for the retailers to "immediately stop the sale of certain popular products," including Echinacea, Ginseng, St. Johnís Wort, and others. Target recently announced that all online orders of $25 or more now qualify for free shipping. Target agreed to pay $3.9M to settle a lawsuit alleging the company used inaccurate price scanners, misrepresented product weight, and charged higher prices than advertised, The San Francisco Gate reported, citing prosecutor statements. Target announced on its website that it will shutter its online streaming service Target Ticket on March 7. STREET RESEARCH: BofA/Merrill upgraded Target to Neutral from Underperform. The firm sees a more stable outlook for Target with the exit of the Canada division and expects the U.S. improvements to continue. RW Baird says that while Target's decision to exit Canada should help cash flows longer term, its view on the company's U.S. fundamentals remain unchanged. The firm says it's hard to call the company's above-plan Q4 comps "robust" given the easy compare. Wells Fargo believes that Target's decision to exit Canada came sooner than expected and removes a major ''weight off the shoulders'' of the company. The firm estimates Target's U.S. earnings can grow to as high as $5.50 in 2016. Stifel downgraded Target to Hold from Buy. The firm believes near-term tactical opportunities are play out and management commentary indicates investments will be necessary in order to modernize. PRICE ACTION: Target shares are up over 6.5% over the past three months. In early afternoon trading ahead of Wednesday's earnings report, shares are down 0.5% to $76.27.
12:15 EDTAAPLMicron sell-off 'totally unwarranted,' says Summit Research
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11:29 EDTAAPLApple could thrive in auto sector, Morgan Stanley says
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10:43 EDTAAPLMicron drop on Apple speculation presents buying opportunity, says Stifel
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10:14 EDTAAPLSamsung reportedly reaches deal with LG, Apple to supply DRAM, Korea Times says
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09:40 EDTFBFacebook says over 2M advertisers now active, launches Ads Manager app
There are now more than 2 million active advertisers on Facebook, the company announced. Facebook also announced the launch of Ads Manager, a new mobile app that gives marketers more power to manage ads from anywhere. Reference Link
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