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March 4, 2013
34th Annual Institutional Investors Conference is being held in Orlando, Florida on March 3-6.
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November 16, 2015
14:28 EDTHDHome Depot technical notes ahead of earnings
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10:40 EDTHDEarnings Watch: Home Depot reports following recent rout among retailers
Home Depot (HD), a home improvement retailer, is scheduled to report third quarter results before the market opens on Tuesday, November 17, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.32 on revenue of $21.76B, according to First Call. The consensus range for EPS is $1.28-$1.37 on revenue of $21.16B-$22B. LAST QUARTER: On August 18, Home Depot reported second quarter adjusted EPS of $1.71 on revenue of $24.83B, generally in line with analysts' consensus estimates of $1.71 and $24.69B, respectively. The company said same-store sales increased 4.2% year-over-year, with U.S. SSS up 5.7%. The company raised its fiscal year 2015 EPS growth view to 13% from 11%-12% and its FY15 revenue growth forecast to 5.2%-6% from 4%-4.6%. The company previously raised its FY15 EPS growth view to 11%-12% and revenue growth view to 4.2%-4.8% from 3.5%-4.7%. Home Depot also said it sees FY15 SSS to be up 4.1%-4.9% y/y, an increase from its prior view of 4%-4.6% growth. Home Depot said at the time that it expected to repurchase an additional $3.9B of shares during the remainder of the year for a total of $7B. NEWS: On its last earnings conference call, Home Depot said the increased guidance reflects the outperformance of Q2 and the expected benefits of the Interline Brands acquisition. The company also noted that it will tap the long-term debt markets in the fall. During the quarter, Home Depot completed the $1.63B acquisition of Interline. STREET RESEARCH: UBS raised its price target on Home Depot to $138 from $129 on the day after its last earnings release, saying it sees several factors that could drive upside, including the addition of the Interline platform and system enhancements. PRICE ACTION: Last week, while retailers Macy's (M), Nordstrom (JWN) and numerous others in the space reported worse than expected quarterly results and gave downbeat guidance, Home Depot shares declined about 4.7%. Over the last three months, Home Depot shares are up about 1%. In early trading ahead of Tuesday's earnings, shares in Home Depot slipped about 0.25% to $119.74.
05:28 EDTHDStocks with implied volatility movement; HD ETP
Stocks with implied volatility movement; Home Depot (HD) 26, Energy Transfer Partners (ETP) 49 according to iVolatility.
November 12, 2015
14:20 EDTGWWGrainger sinks 5% after long-term margin outlook gets lowered
14:13 EDTGWWGrainger sees margins 14%-15% by 2020 vs. previous 16%-17% by 2019
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13:53 EDTGWWGrainger reiterates 2015 outlook, issues 2016 guidance at analyst day
Grainger during its analyst day issued a press release with guidance for this year and next. The company reiterated its outlook for 2015, which includes EPS of $11.60-$11.80 and sales growth of down 0.5% to up 0.5%. The consensus EPS estimate is $11.65. Grainger guided its Q4 to $2.20-$2.40 versus the consensus of $2.24, on sales growth of down 3% to flat. For 2016, the company expects EPS of $10.80-$13.00 on sales growth of down 1% to up 7%. Excluding the results from Cromwell Group, acquired September 1, the company is forecasting sales growth of down 4% to up 4% and expects earnings per share of $10.70-$12.90. The consensus estimate is $12.00. Grainger also updated its longer term financial objectives. The company now expects operating margins of 14%15% by the year 2020. :This improvement is expected to come from organic sales growth in the mid-single digits and long term operating margin expansion of approximately 30 basis points per year," it stated. For reference, Grainger's operating margin in 2015 is expected to be 13.2%-13.3% excluding restructuring charges and unusual items.
13:48 EDTGWWGrainger sees operating margins of 14%-15% by 2020
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13:48 EDTGWWGrainger sees 2016 EPS $10.80-$13.00, consensus $12.00
Sees 2016 sales growth down 1% to up 7%.
13:47 EDTGWWGrainger sees Q4 EPS $2.20-$2.40, consensus $2.24
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12:17 EDTGWWGrainger sinks after predicting 'tough' conditions will continue
Shares of Grainger moved lower as the company's analyst day got underway. In presentation slides, the company pointed to a "tough industrial economy" and noted it expects "more of the same" in 2016. Grainger cited "short term changes in customer behavior" and added that the "competitive landscape continues to evolve." The distributor of maintenance, repair and operating supplies fell $7.43, or 4%, to $203.75 in midday trading. Grainger's peers include HD Supply Holdings (HDS), Fastenal (FAST) and MSC Industrial (MSM).
12:11 EDTGWWGrainger says 'complex time for the industry'
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12:10 EDTGWWGrainger drops 4% to 203.17 as analyst day gets going
November 11, 2015
18:33 EDTBASBasic Energy reports October well servicing rig count unchanged at 421
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14:20 EDTGWWGrainger to host analyst meeting
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12:51 EDTHDHome Depot volatility elevated into Q3 and outlook
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03:52 EDTABCOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Amyris (AMRS) initiated with a Buy at Rodman & Renshaw... Avago (AVGO) initiated with a Buy at Drexel Hamilton... AvalonBay (AVB) initiated with an Underweight at BB&T... Blue Buffalo Pet Products (BUFF) initiated with a Neutral at Wedbush... Camden Property (CPT) initiated with a Buy at BB&T... Corporate Executive Board (CEB) initiated with a Buy at Cantor... Equity Lifestyle (ELS) initiated with a Hold at BB&T... Equity Residential (EQR) initiated with a Hold at BB&T... Essex Property Trust (ESS) initiated with a Buy at BB&T... FactSet (FDS) initiated with a Hold at Cantor... Freshpet (FRPT) initiated with an Outperform at Wedbush... Gartner (IT) initiated with a Buy at Cantor... Horace Mann (HMN) initiated with a Market Perform at JMP Securities... IHS Inc. (IHS) initiated with a Hold at Cantor... Ignyta (RXDX) initiated with a Buy at Cantor... (JD) initiated with a Buy at HSBC... MSCI (MSCI) initiated with a Buy at Cantor... McGraw Hill Financial (MHFI) initiated with a Buy at Cantor... Mid-America Apartment (MAA) initiated with an Underweight at BB&T... Moody's (MCO) initiated with a Hold at Cantor... Nordstrom (JWN) initiated with a Buy at Guggenheim... Post Properties (PPS) initiated with a Buy at BB&T... Strongbridge Biopharma (SBBP) initiated with a Buy at Stifel... The Advisory Board (ABCO) initiated with a Buy at Cantor... UDR, Inc. (UDR) initiated with an Underweight at BB&T... Verisk Analytics (VRSK) initiated with a Buy at Cantor.
November 10, 2015
11:06 EDTHDBattleground: Wayfair pits noted short sellers against Wall Street analysts
Shares of Wayfair (W), which describes itself as "one of the world's largest online destinations for home furnishings and decor," are sharply lower following its report last night of its third quarter results. The company posted a loss that was not as bad as forecast, reported better than expected revenues and guided to higher than expected sales in its upcoming quarter, but its stock is falling as bears and bulls debate its prospects for future profitability. BEARS: Whitney Tilson of Kase Capital Management, who previously accused Lumber Liquidators (LL) of selling wood with dangerous levels of formaldehyde, is making the same claims against Ark Floors, a California importer that has sold its products via Wayfair and through (WMT), reported The New York Times. Jane Carpenter, a spokeswoman for Wayfair, said the company had previously removed all of Ark's laminate from its website and said it had sold just 10 orders for Ark products since December 2014, including one order through, the report noted. According to a letter that Tilson sent to investors last night, published on Seeking Alpha, he stated that Wayfair is currently his largest short position "by far." Tilson noted that Wayfair competes head-to-head versus Amazon (AMZN), Home Depot (HD), Target (TGT), and Williams-Sonoma (WSM) and he believes the company's chances of "ever reaching breakeven, much less earning a profit, much less earning enough of a profit to justify a $4B market cap are close to zero," he wrote. Tilson predicts the stock will be below $10 within a year. Short-selling blog Citron Research, which has also previously disclosed a short position in Wayfair, linked to a Wall Street Journal article in an October 20 tweet, saying UPS (UPS) "destroys" Wayfair's core model of free shipping on oversized items. The Journal article detailed the shipping giant's plans to charge websites that share "generous shipping discounts with vendors." BULLS: Piper Jaffray analyst Neely Tamminga raised her price target for Wayfair to $73 from $60 this morning, saying the company posted "exceptional" growth in Q3 amid an otherwise "lackluster" retail environment. After the New York Times article citing Wayfair's association with a vendor viewed as at-risk given a short-seller's testing of laminate flooring, Tamminga points out that all laminate flooring accounts for 0.2% of the company's sales. She continues to recommend Wayfair as a top pick for 2015. Analysts at Wells Fargo previously said in September that reports on Wayfair by short sellers included many inaccuracies. For example, Wells said that shorts' view that Wayfair loses money on every transaction relies on a "flawed view" of the company's customer acquisition costs and payback. Shorts compare Wayfair with Overstock (OSTK), but Wayfair is growing much more quickly that the latter company, Wells stated. According to the firm, which kept an Outperform rating on the shares, Wayfair has by far the highest organic revenue growth rate among U.S. consumer companies. PRICE ACTION: In morning trading, Wayfair fell $5.08, or 11.2%, to $40.50 per share.
10:53 EDTHDWhitney Tilson sees Wayfair trading below $10 within a year
Noted short-seller Whitney Tilson explained in a Seeking Alpha post why Wayfair (W) is his largest short position. He predicts the stock will be below $10 within a year. The online retailer is trading down $4.74 to $41.10 after reporting Q3 results. A New York Times article on one of Wayfair's vendors producing potentially toxic Chinese-made laminate flooring shows the company's business model is "completely out of control," Tilson argues. In addition, the odds of the online retailer ever reaching breakeven are "close to zero," he contends, citing the competition Wayfair faces from (AMZN), Home Depot (HD), Target (TGT) and Williams-Sonoma (WSM). Reference Link
09:16 EDTHDAmazon says Amazon Echo to be available in 3,000 stores in the U.S.
Amazon (AMZN) announced that Amazon Echo will be available in more than 3,000 stores around the country in time for the holiday shopping season. Customers will be able to visit select locations of The Home Depot (HD), Staples (SPLS), Sears (SHLD), Brookstone, RadioShack (RSHCQ), Fred Meyer, P.C. Richard & Son, as well as several other retailers to experience and purchase Echo.
06:11 EDTUISJHL reports 7% stake in Unisys, wants 'more extensive' talks
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