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February 26, 2013
05:55 EDTAES, AES, CNP, CNP, DLTR, DLTR, JOY, JOY, NRG, NRG, TGT, TGT, TJX, TJXCompanies reporting Before the Market Open on Wednesday, February 27
Notable companies reporting before the opening bell include AES (AES), CenterPoint Energy (CNP), Dollar Tree (DLTR), Joy Global (JOY), NRG Energy (NRG), Target (TGT) and TJX Companies (TJX).
News For AES;CNP;DLTR;JOY;NRG;TGT;TJX From The Last 14 Days
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November 17, 2015
11:31 EDTTJXTJX continues to see buying back $1.8B-$1.9B of TJX stock this year
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11:27 EDTTJXTJX sees Q4 consolidated sales $8.6B-$8.7B, consensus $8.75B
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09:02 EDTTGTAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
08:37 EDTTJXTJX continues to see FY16 EPS $3.26-$3.28, consensus $3.31
Excluding a $.01 debt extinguishment charge in Fiscal 2015, this guidance would represent a 3% to 4% increase over the adjusted $3.16 in Fiscal 2015. This guidance for EPS growth reflects a 9% negative impact from the same factors affecting estimated EPS growth in the fourth quarter, detailed above. This guidance also now reflects a $.02 to $.03 negative impact to EPS from the acquisition of Trade Secret, which was not contemplated in the Company's prior guidance. This EPS outlook is now based upon a raised estimate of consolidated comparable store sales growth of 4% to 5%. The Company's earnings guidance for the fourth quarter and full year Fiscal 2016 assumes that currency exchange rates will remain unchanged from the levels at the beginning of the fourth quarter.
08:37 EDTTJXTJX sees Q4 EPS 91c-93c, consensus 98c
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08:36 EDTTJXTJX reports Q3 EPS 86c, consensus 85c
Reports Q3 revenue $7.8B, consensus $7.73B. Consolidated comparable store sales increased 5% over last year's 2% increase.
November 16, 2015
19:34 EDTTJXTJX management to meet with JPMorgan
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15:02 EDTTJXNotable companies reporting before tomorrow's open
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14:15 EDTTJXTJX November 65 straddle priced for 8.7% movement into Q3
11:15 EDTTJXTJX volatility elevated into Q3 and outlook
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05:09 EDTTJXStocks with implied volatility movement; TJX NKE
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November 13, 2015
14:15 EDTTGTTarget volatility elevated into Q3 and outlook
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12:34 EDTTJXOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday following worse than expected retail sales data in the U.S. and a report showing that the Eurozone's economic growth slowed last quarter. ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in the month of October, versus expectations for an increase of 0.3%. When autos and gas are removed, the core reading was up 0.3%, versus expectations for a rise of 0.4%. Producer prices fell 0.4%, versus expectations for them to be up 0.2%. When food and energy are removed, the core reading was down 0.3%, versus expectations for it to be up 0.1%. Business inventories grew 0.3% in September while sales were flat compared to August. Consumer sentiment, as measured by the preliminary print from the University of Michigan survey, improved 3.1 points to 93.1 in November, which was better than the 91.5 reading that was expected. In Europe, data showed that eurozone's economy grew by just 0.3% in the third quarter, which was a slowdown from the 0.4% GDP growth recorded three months earlier and weaker than the 0.4% consensus growth forecast. COMPANY NEWS: Shares of retailers broadly declined on Friday morning following the weaker than expected retail sales data reported by the government as well as third quarter earnings reports from Nordstrom (JWN) and J.C. Penney (JCP). Each of the aforementioned department store operators slid following their reports, as did Macy's (M) and Kohl's (KSS), which reported on their own results earlier in the week. TJX Companies (TJX) and Ross Stores (ROST), which are both scheduled to report quarterly earnings next week, were also among those caught up in the weakness... Shares of Mylan (MYL) jumped 13% after the company's offer to acquire Perrigo (PRGO) failed, ending a seven-month fight between the two drugmakers. Perrigo Chief Executive Officer Joseph Papa said he was "delighted" that his company's shareholders rejected the offer and the company added that it will immediately commence its previously announced $2B share buyback program, but its shares slid 7% in the wake of the shareholder vote... Cisco (CSCO) fell 6% after its first quarter earnings and revenue beat expectations but its guidance for the new quarter disappointed. A number of analysts that had been bullish on the name trimmed their price targets in response but also recommended the post-earnings weakness as a buying opportunity. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 5% after Bloomberg reported that the company rejected an initial $42B offer from ChemChina. Also higher was Yum! Brands (YUM), which gained 4% after it reported positive year over year same store sales growth for its China division in October. Among the noteworthy losers was GameStop (GME), which fell 14% after its stock was downgraded at Pacific Crest and NPD estimated that video game software sale declined 3% last month compared to the same month of last year. Also lower was Fossil (FOSL), which plunged 33% after the watchmaker gave lower than expected profit guidance for the upcoming quarter and said it continues to expect this fiscal year's results to be "significantly" negatively impacted by foreign currency changes. INDEXES: Near midday, the Dow was down 88.19, or 0.51%, to 17,359.88, the Nasdaq was down 34.22, or 0.68%, to 4,970.86, and the S&P 500 was down 9.24, or 0.45%, to 2,036.73.
11:05 EDTTGTTarget comparable sales likely within guidance, says Piper Jaffray
Piper Jaffray analyst Sean Naughton acknowledged that sentiment is challenging on Target's stock amid the weakness being reported by a number of retailers this week, but he asserts that Census Bureau data this morning, combined with the firm's observations, leave him thinking that Target's third quarter comparable sales are within the company's guidance of up 1%-2%. The analyst, who thinks Target's fundamentals may be holding up better than some expect, has an Overweight rating and $88 price target on the stock.
10:19 EDTTJXRetailer weakness renewed following Nordstrom, J.C. Penney reports
Shares of department store retailers, and others in the retail space, plunged on Friday morning following third quarter earnings reports from Nordstrom (JWN) and J.C. Penney (JCP). WHAT'S NEW: Nordstrom reported Q3 earnings per share of 42c, against analyst estimates of 72c, Q3 revenue of $3.24B below consensus estimates of $3.37B. Same-store sales for the quarter increased 0.9%. Nordstrom said its quarterly performance reflected softer trends that were generally consistent across channels and merchandise categories. The company also lowered its FY15 adjusted EPS view to $3.40-$3.50 from $3.70-$3.80, against analysts' expectations of $3.75, lowered its FY15 revenue guidance to up 7.5%-8% from 8.5%-9.5% and lowered its FY15 SSS view to 2.5%-3% from 3.5%-4.5%. Meanwhile, J.C. Penney reported a smaller than expected loss, with adjusted EPS of (47c) on revenue of $2.9B, beating analysts' estimates of (55c) and $2.88B, respectively. Same-store sales for the quarter were up 6.4%. The company reaffirmed its fiscal year 2015 view for a 4%-5% increase in SSS and said on its earnings conference call that it believes fourth quarter comps will be in line with FY15 expectations and also reaffirmed expectations of $1.2B in EBITDA in 2017. The company still expects to be cash flow breakeven in FY15 and confirmed reports that it recently cut 300 positions at its Plano, Texas office. WHAT'S NOTABLE: Macy's (M), which generally competes more with Nordstrom, reported Q3 revenue that missed analysts' expectations on Wednesday, and the retailer cut its FY15 EPS view to $4.20-$4.30 excluding charges from $4.70-$4.80, also well below estimates calling for $4.65, with total sales down 2.7%-3.1%, compared to previous guidance of down about 1%. Macy's now sees FY15 SSS on an owned plus licensed basis down by 1.8% to 2.2%, compared with previous guidance of approximately flat. Macy's noted "tepid" spending by U.S. customers in Q3, and provided Q4 EPS of $2.54-$2.64, well below analysts' consensus estimates of $2.90. Kohl's (KSS), which competes more closely with J.C. Penney, reported Q3 results that beat analysts' estimates on Thursday, with EPS of 75c on revenue of $4.43B, against estimates for 69c and $4.4B, respectively, and SSS up 1%. The company said it believes it can "hit" FY15 EPS guidance of the low end of $4.40-$4.60, but forecast negative weather trends in Q4. Macy's is more dependent on tourist spending than Kohl's. ANALYSTS' REACTION: Deutsche Bank analyst Paul Trussell says he's "disappointed and shaken" by Nordstrom's weaker than expected Q3 results and guidance and cut his price target to $66 from $84. Citi analyst Paul Lejuez cut his price target on Nordstrom to $65 from $92 and called the retailer's results a "sucker punch." Credit Suisse analyst Michael Extein also lowered his target on Nordstrom to $60 from $75. Stifel maintained its price target on Nordstrom and said it expects ROIC to improve and EPS growth to accelerate over the longer term. REPORTS TO COME: TJX Companies (TJX) and Ross Stores (ROST), which are also being hit by the plunge in the retail sector, will report quarterly earnings on November 17 and November 19, respectively. PRICE ACTION: In morning trading, shares of Nordstrom are down 17% to $52.56 and shares of J.C. Penney are lower by nearly 9% to $8.01. Much of the rest of the retail sector is lower this morning, with Macy's down over 3%, Kohl's plunging 8%, TJX down more than 5% and Ross down nearly 5%. Fossil (FOSL), which also reported earnings yesterday, is down almost 32%.
08:01 EDTAESAES Corp. announces first deployment of Advancion 4
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November 12, 2015
19:00 EDTTGT, TJXOn The Fly: After Hours Movers
UP AFTER EARNINGS: USA Technologies (USAT), up 15.9%... Blue Buffalo (BUFF), up 7.3%... Planet Fitness (PLNT), up 12.3%... Darling Ingredients (DAR), up 8.1%... Applied Materials (AMAT), up 3.8%... Lipocine (LPCN), up 19.9% after reporting quarterly results and that the FDA has assigned a Prescription Drug User Fee Act goal date of June 28, 2016. ALSO HIGHER: Syngenta (SYT), up 14.5% after Bloomberg reported that the company rejected an initial $42B bid from ChemChina... Yum! Brands (YUM), up 4.1% after reporting that October China Same-Store Sales are up 5%. DOWN AFTER EARNINGS: bebe stores (BEBE), down 10.5%... Nordstrom (JWN), down 20.3%... Fossil (FOSL), down 14.7%... Cisco (CSCO), down 4.8%... El Pollo LoCo (LOCO), down 8.7%... Tahoe Resources (TAHO), down 7.2%. ALSO LOWER: Paycom Software (PAYC), down 5.2%... Netflix (NFLX) down 1% after Dow Jones reported that Hulu, a joint venture of Disney (DIS), Comcast (CMCSA, CMCSK), and Fox (FOX, FOXA), is in discussions to sell a stake in the company to Time Warner (TWX)... TJX Companies (TJX), down 4%, Burlington Stores (BURL), down 5.3%, Macy's (M), down 1.6%, Target (TGT), down 1.9%, J.C. Penney (JCP), down 1.4%, and Kohl's (KSS), down 1.3%, after Nordstrom reported quarterly results and cut its fiscal 2015 guidance.
18:38 EDTTGT, TJXDepartment store stocks drop after Nordstrom reports Q3 earnings, cuts guidance
Shares of Nordstrom (JWN) slipped in after-hours trading after the department store reported its third quarter results and cut its guidance for fiscal year 2015. WHAT'S NEW: Nordstrom reported Q3 earnings per share of 42c, against analyst estimates of 72c, Q3 revenue of $3.24B below consensus estimates of $3.37B, and Q3 same-store sales of 0.9%. The company lowered its FY15 adjusted EPS view to $3.40-$3.50 from $3.70-$3.80, against analyst expectations of $3.75, lowered its FY15 revenue guidance to up 7.5%-8% from 8.5%-9.5%, and lowered its FY15 SSS view to 2.5%-3% from 3.5%-4.5%. WHAT'S NOTABLE: Nordstrom reported that Q3 EPS included a reduction of 15c, which primarily represented transaction costs associated with the closing of its credit card portfolio sale. In its Q3 earnings release, Nordstrom said that its performance was below company expectations, reflecting softer sales trends that were generally consistent across channels and merchandise categories. The company noted that its top-performing merchandise category was Cosmetics. In addition, coats, younger customer-focused departments and dresses continued to reflect strength in Women's Apparel. PRICE ACTION: Shares of Nordstrom are trading lower by 20.55% to $50.45 in the after-hours. OTHERS TO WATCH: Retailers that followed Nordstrom downward included TJX Companies (TJX), down 4%, Burlington Stores (BURL), down 5.3%, Macy's (M), down 1.6%, Target (TGT), down 1.9%, J.C. Penney (JCP), down 1.4%, and Kohl's (KSS), down 1.3%.
13:05 EDTTGTTarget to open small-format store in Manhattan next year, Fortune reports
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08:15 EDTTGTTarget names Melanie Healey to board of directors
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