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Stock Market & Financial Investment News

News Breaks
February 4, 2013
05:55 EDTAGN, AGN, SE, SE, NYX, NYX, K, K, EL, EL, EMR, EMR, ETN, ETN, DO, DO, DLPH, DLPH, CSC, CSC, CAH, CAH, BDX, BDX, ADP, ADP, ADM, ADM, TE, TECompanies reporting Before the Market Open on Tuesday, February 5
Notable companies reporting before the opening bell include Allergan (AGN), Archer Daniels Midland (ADM), Automatic Data Processing (ADP), Becton Dickinson and Co (BDX), Cardinal Health (CAH), Computer Sciences (CSC), Delphi Automotive (DLPH), Diamond Offshore Drilling (DO), Eaton (ETN), Emerson Electric (EMR), Estee Lauder Companies (EL), Kellogg (K), NYSE Euronext (NYX), Spectra Energy (SE) and TECO Energy (TE).
News For AGN;ADM;ADP;BDX;CAH;CSC;DLPH;DO;ETN;EMR;EL;K;NYX;SE;TE From The Last 14 Days
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May 19, 2015
16:21 EDTCSCCSC plans to seperate into two companies, to pay $10.50 per share cash dividend
Computer Sciences Corporation announced that its Board of Directors has unanimously approved a plan to separate the company into two publicly traded, pure-play leaders: one to serve commercial and government clients globally and one to serve public sector clients in the U.S. Concurrent with the separation, CSC intends to pay a special cash dividend to shareholders of $10.50 per share at closing, which is expected by October 2015. “CSC began its turnaround three years go,” said CEO Mike Lawrie. “That turnaround has progressed strongly, and our focus now turns to positioning the business for long-term growth and leadership. The best way to accelerate that transformation is by separating the company into two businesses, each uniquely positioned to lead its market by focusing strongly on the needs of its clients.”
16:17 EDTCSCCSC reports Q4 EPS $1.26, consensus $1.20
Reports Q4 revenue $2.9B, consensus $2.96B.
15:00 EDTCSCNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Analog Devices (ADI), consensus 72c... Autodesk (ADSK), consensus 28c... Computer Sciences Corporation (CSC), consensus $1.20... Qihoo 360 Technology (QIHU), consensus 49c... Keysight Technologies (KEYS), consensus 65c... Nordson (NDSN), consensus 86c... ViaSat (VSAT), consensus 42c... Dycom Industries (DY), consensus 37c.
14:58 EDTCSCCSC technical comments ahead of earnings
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12:47 EDTKEarnings Watch: Target sees FY15 adjusted EPS $4.45-$4.65, 2%-3% sales growth
Target (TGT) is scheduled to report first quarter results before the market open on Wednesday, May 20, 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 $1.03 on revenue of $17.09B, according to First Call. The consensus range for EPS is 85c-$1.09 on revenue of $16.98B-$17.25B. LAST QUARTER: Target reported fourth quarter adjusted EPS of $1.50 on revenue of $21.75B, beating analysts' estimates for $1.46 and $21.63B, respectively. The company said comparable sales increased 3.8% in Q4, reflecting a 3.2% increase in comparable transactions. Target said digital channel sales contributed 0.9 percentage points to SSS growth. Target forecast Q1 adjusted EPS 95c-$1.05, SSS up about 2% and said its top priority is to drive digital sales growth. The company said it could be in a position to revisit stock buybacks later this year and noted that its workers' wages are "competitive." NEWS: At its Financial Community Meeting on March 3, Target forecast fiscal year 2015 adjusted EPS $4.45-$4.65, against estimates at that time for $4.50, on sales growth of 2%-3% for the fiscal year. The company also forecast 10% annual EPS growth for 2016 and beyond, as well as 5%-10% annual dividend growth. Target forecast $2B in savings in expenses and cost of goods over the next two years and 9.5%-10% EBITDA margins over the next five years. As for share repurchases, Target sees $2B this year, and said it continues to support the dividend and repurchase "billions." Looking to FY15, Target forecast FY15 capital expenditures of $2.1B and sees expected CapEx of $2B-$2.5B over the next five years. Target said its gross margin rate of 29.5% is "achievable." Target said it would focus on categories including style, baby, kids and wellness. As part of its $2B cost savings plan, Target said it will cut "several thousand jobs." Target said in a filing that on March 10, the company notified approximately 1,700 employees whose employment will be terminated as part of an overall plan to transform Target’s business. The company said it expects to incur severance costs of $10M. During the quarter, Target said it planned to raise its minimum pay for all workers to at least $9 an hour starting in April, according to The Wall Street Journal, and agreed to pay $10M to settle a class action lawsuit related to its 2013 data breach, Reuters reported. Target reached a settlement with MasterCard (MA) to resolve claims by MasterCard and its issuers related to the retailer’s 2013 data breach. Under the agreement, Target will make available up to $19M in alternative recovery offers to eligible banks and credit unions across the globe. Target Canada said it would close the last 133 retail stores by April 12. Target also announced plans to sell its Target Commercial Interiors subsidiary to Omni Workspace. The retailer launched the Lilly Pulitzer for Target collection in April, which rendered its website inaccessible for short time after it was overwhelmed by customer traffic, The WSJ said. The WSJ also reported that, according to sources, Target gave notice to Campbell Soup (CPB), General Mills (GIS), Kellogg (K), Kraft Foods (KRFT) and others that it will reduce their presence in Target circulars and in-store advertisements. STREET RESEARCH: Following Target's analyst meeting, Wells Fargo said it thinks the company's operating plan sets the stage for the company to potentially beat expectations in 2015 and beyond. The firm believes that"outsized digital growth" or new products could enable Target's results to beat expectations. Piper Jaffray views Target's long term earnings algorithm, which is based on a 1% store comp and 40% growth in digital sales annually, as realistic and the company's capital deployment as encouraging. BofA/Merrill upgraded Target to Buy from Neutral in April and increased its price target to $92 from $86. The firm believes Target is well positioned to benefit from an improving middle-income core customer base. The firm said customers are responding well to improved assortment and merchandising and expects Target to continue to see increased spending at stores and online as customers trade-up to more expensive items. PRICE ACTION: Target shares are up over 1.6% over the past three months. In early afternoon trading ahead of Wednesday's earnings report, shares are down 0.51% to $77.96.
May 18, 2015
07:19 EDTETNElectric Products Group to hold a conference
EPG 2015 is being held in Longboat Key, Florida on May 18-20 with webcasted company presentations to begin on May 18 at 7:30 am; not all company presentations may be webcasted. Webcast Link
06:56 EDTEMRGE, Emerson said to be mulling bids for Aveva, Sunday Times reports
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May 17, 2015
19:11 EDTKTarget to reduce advertising space for certain large brands, WSJ says
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19:06 EDTADMArcher Daniels acquires Meiweiyuan Biotechnology
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May 15, 2015
17:15 EDTCSCPaulson & Co. gives quarterly update on stakes
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10:55 EDTCSCJANA Partners gives quarterly update on stakes
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10:29 EDTCAH, AGNAmerican Urological Association to hold an annual meeting
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May 14, 2015
14:49 EDTCSCCSC break-up would be logical step, says Wells Fargo
Wells Fargo said a separation of Computer Sciences' government and commercial business units, as Reuters reported that the company plans to announce, would be a logical step for the company's "investor friendly" management to take. However, the firm believes CSC is still challenged to grow in both arms of the business and keeps a Market Perform rating on the stock.
14:11 EDTCSCCSC to break up commercial and government business units, Reuters says
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13:38 EDTCSCCSC split plans may be announced next week, Reuters says
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13:37 EDTCSCCSC plans break up into two companies, Reuters reports
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10:00 EDTSEOn The Fly: Analyst Initiation SummaryT
Today's noteworthy initiations include: Advaxis (ADXS) initiated with a Buy at MLV & Co.... Akebia (AKBA) initiated with a Buy at Brean Capital... CarMax (KMX) initiated with a Buy at Sterne Agee CRT... Coach (COH) initiated with a Neutral at Wedbush... Euronav NV (EURN) initiated with an Outperform at Credit Suisse... Franco-Nevada (FNV) initiated with an Outperform at Macquarie... Kate Spade (KATE) initiated with an Outperform at Wedbush... Lumber Liquidators (LL) initiated with a Perform at Oppenheimer... Michael Kors (KORS) initiated with a Neutral at Wedbush... National Instruments (NATI) initiated with an Overweight at Stephens... Royal Gold (RGLD) initiated with an Outperform at Macquarie... Spectra Energy Partners (SEP) initiated with a Buy at Janney ... Spectra Energy (SE) initiated with a Buy at Janney Capital... Tribune Publishing (TPUB) initiated with a Buy at Sterne Agee CRT.
08:19 EDTADMSenate Agriculture Committee to hold a hearing
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07:08 EDTTETECO Energy reinstated with a Neutral at Credit Suisse
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06:48 EDTSESpectra Energy initiated with a Buy at Janney Capital
Target $43.
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