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Stock Market & Financial Investment News

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August 25, 2014
11:11 EDTSPLS, DKS, GME, URBN, AEO, YOKU, WUBA, FOLD, AMPE, ITMNOptions with decreasing implied volatility
Options with decreasing implied volatility: AMPE FOLD ITMN AEO DKS WUBA URBN SPLS YOKU GME
News For AMPE;FOLD;ITMN;AEO;DKS;WUBA;URBN;SPLS;YOKU;GME From The Last 14 Days
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April 14, 2015
16:53 EDTWUBAOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street were mixed for the day, beginning the session in positive territory helped by better than expected earnings reports from JPMorgan (JPM), Johnson & Johnson (JNJ), and Wells Fargo (WFC). The early economic data was slightly below Wall Street expectations and became a headwind for the market. By the end of the first hour of trading the market had turned negative, and it spent the remainder of the day trading in mixed fashion. ECONOMIC EVENTS: In the U.S., retail purchases for March advanced 0.9%, bouncing up from a 0.5% decline in February. However, economists had predicted a 1.1% growth after improvements on last month's weather. The producer price index grew 0.2% for March, in line with consensus estimates. Core PPI grew 0.2% versus expectations of 0.1% growth. The International Monetary Fund's World Economic Outlook Report trimmed U.S. growth forecast to 3.1% from its previous outlook of 3.6%, while global forecast was left unchanged at 3.5%. COMPANY NEWS: Avon (AVP) surged 66c, or 8.24%, to $8.67 following a Wall Street Journal report that the company is exploring strategic alternatives, including potentially selling its North American business, though a Bloomberg report later in the day claimed the company is not conducting a formal sale process... Nokia (NOK) confirmed it is in "advanced discussions" to buy French telecom firm Alcatel-Lucent (ALU), prompting French President Francois Hollande to schedule meetings with leaders from both companies. Later in the day, the French government announced it supports the potential deal, with French Economy Minister Emmanuel Macron stating Nokia reassured officials by detailing "clear undertakings." Nokia fell 34c, or 4.1%, to $7.96 at the close, while Alcatel jumped 58c, or 13.33%, to $4.93. MAJOR MOVERS: Among the notable gainers was 58.com (WUBA), which rallied 33.52%, or $17.04, to $67.87 after the Financial Times reported the company has signed a memorandum of understanding to merge with rival classifieds service Ganji.com. Also higher was PartnerRe (PRE), which advanced 8.49% to $129.25 after EXOR proposed to acquire the company for $130.00 per share in cash, valuing PartnerRe at $6.4B. Following earnings, JPMorgan (JPM) advanced 1.56% to $63.04 after beating expectations, while Wells Fargo (WFC) fell 0.73% and Johnson & Johnson fell 0.03% after reducing its FY15 earnings guidance. Among the noteworthy losers was Arrowhead Research (ARWR), which tumbled 7.75% after Jefferies downgraded the stock to Hold and lowered its price target to $9 from $30. The firm said that while ARC-520 offers the potential for a Hepatitis B virus functional cure, it prefers to wait for multi-dosing data. Also lower was Norfolk Southern (NSC), which dropped 4.18% to $100.49 and was downgraded to Hold at TD Securities following first quarter guidance that fell below expectations. INDEXES: The Dow rose 59.66, or 0.33%, to 18,036.70, the Nasdaq lost 10.96, or 0.22%%, to 4,977.29, and the S&P 500 advanced 3.41, or 0.16%, to 2,095.84.
14:44 EDTWUBA58.com and Ganji integration could cause negative synergies, says KeyBanc
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12:24 EDTWUBAOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday despite better than expected headline earnings from JPMorgan (JPM), Wells Fargo (WFC) and Johnson & Johnson (JNJ). The market began the session in positive territory on the heels of those solid earnings reports, but the averages were unable to hold their early gains as the retail sales figures released during the pre-market trading session missed expectations. ECONOMIC EVENTS: In the U.S., retail purchases grew 0.9% in March, rebounding from a 0.5% decline in February. However, economists were expecting a more pronounced 1.1% advance in recovery from the prior month's weather driven weakness. The producer price index rose 0.2% in March, matching expectations. The core PPI, which excludes food and energy, grew 0.2% as well, versus expectations for it to have risen 0.1%. Business Inventories grew 0.3% in February, versus expectations for them to be up 0.2%. The International Monetary Fund, in its latest World Economic Outlook Report, trimmed its U.S. growth forecast to a 3.1% pace from its prior 3.6% view, but left its global forecast intact at a 3.5% rate. COMPANY NEWS: Shares of JPMorgan advanced 1.5% after its headline earnings per share topped expectations, even before accounting for 13c per share in aftertax legal expense that the bank identified as a "significant item." Conversely, fellow large bank Wells Fargo (WFC) slid 1.5% after its own report on first quarter results, despite the fact that its earnings and revenue both topped the consensus forecast... Shares of Johnson & Johnson (JNJ) were fractionally higher at midday after its first quarter earnings and revenue beat expectations. The multinational company, however, lowered its FY15 adjusted earnings outlook, citing further negative foreign currency movements... Nokia (NOK) and Alcatel-Lucent (ALU), in response to "recent media speculation," confirmed that they are in advanced discussions with respect to a potential full combination, which would take the form of a public exchange offer by Nokia for Alcatel. MAJOR MOVERS: Among the notable gainers was 58.com (WUBA), which jumped 25% after Financial Times reported the company has signed a memorandum of understanding to merge with peer Ganji.com to create one of the largest specialized online classified companies in China. Also higher was PartnerRe (PRE), which advanced nearly 9% to trade near $129.50 after Europe based investment company EXOR announced that it submitted a written proposal to acquire 100% of the common shares of the company for $130.00 per share in cash, valuing PartnerRe at $6.4B. EXOR said its all-cash proposal represents a 16% premium to the implied value per share of $112.53 for PartnerRe under the merger deal it has in place with AXIS Capital (AXS). Among the noteworthy losers was Arrowhead Research (ARWR), which tumbled over 6% after Jefferies downgraded the stock to Hold and cut its price target for shares to $9 from $30 after assuming coverage of the stock. The firm said that while ARC-520 offers the potential for a Hepatitis B virus functional cure, it prefers to wait for multi-dosing data. Also lower was Norfolk Southern (NSC), which fell nearly 6% and was downgraded to Hold from Buy at TD Securities after the railroad operator provided first quarter guidance that came in below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 53.15, or 0.3%, to 18,030.19, the Nasdaq was down 16.19, or 0.32%, to 4,972.06, and the S&P 500 was up 2.20, or 0.11%, to 2,094.63.
10:26 EDTWUBA58.com signed MOU to merge with Ganji.com, FT reports
58.com has signed a memorandum of understanding to merge with peer Ganji.com and the two companies are expected to announce as soon as tomorrow that they plan to combine to create one of the largest specialized online classified companies in China, said Financial Times, citing people familiar with the matter. The combined company could be valued at as much as $10B, one person involved in the transaction told FT. 58.com shares trading in New York are up about 15% to $58.28 in morning trading. Reference Link
10:22 EDTWUBA58.com, Ganji.com in merger talks, FT reports
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10:01 EDTURBNOn The Fly: Analyst Upgrade Summary
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08:56 EDTURBNUrban Outfitters upgraded at BMO Capital
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07:37 EDTDKSDick's Sporting backs FY15 EPS $3.10-$3.20, consensus $3.20
The company's earnings per share guidance includes the expectation of approximately $100M-200M of share repurchases in 2015. Consolidated SSS are currently expected to increase 1 to 3% in fiscal 2015.
07:36 EDTDKSDick's Sporting backs Q1 EPS 49c-53c, consensus 53c
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07:36 EDTDKSDick's Sporting expects to invest $850M in net CapEx over next three years
DICK'S Sporting Goods also reaffirmed its capital allocation strategy to provide returns to shareholders through investing in the business, repurchasing shares and paying dividends. To drive the growth of the business the company expects to invest approximately $850M in net capital expenditures over the next three years, primarily in new stores, store remodels and eCommerce. With its $1B 5-year share repurchase authorization, the company targets share repurchases of $100 to 200 million annually. The company is also committed to quarterly dividends.
07:35 EDTDKSDick's Sporting expects to open 9 Specialty Concept stores in 2015
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07:34 EDTDKSDick's Sporting plans to have ecommerce site on own platform in January 2017
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07:34 EDTDKSDick's Sporting sees significant opportunity to increase market share in US
The company sees significant opportunity to increase market share in the U.S. through growing its DICK'S Sporting Goods store base in new and underpenetrated markets and increasing its eCommerce sales. Stores continue to be a very profitable growth vehicle that deliver strong new store productivity, accelerate eCommerce growth, build brand equity and customer loyalty, and reinforce the strength of the Company's vendor partnerships. The company is taking a measured approach to growing its store count and anticipates growing its DICK'S Sporting Goods store base to approximately 735 to 750 stores by the end of fiscal 2017, an increase of approximately 135 to 150 stores from the 603 stores at the end of fiscal 2014. The company plans to grow eCommerce sales to approximately $1B-1.2B in fiscal 2017, from $628 million in fiscal 2014.
07:32 EDTDKSDick's Sporting sees FY17 revenue $8.7B-$9B, 3-year EPS CAGR of 12%-16%
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06:29 EDTURBNUrban Outfitters upgraded to Outperform from Market Perform at BMO Capital
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April 13, 2015
15:16 EDTGMEGameStop management to meet with Piper Jaffray
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11:28 EDTSPLSStarboard CEO says Staples, Office Depot merger 'likely to go through'
Says confident the potential merger will pass anti-trust scrutiny. Jeff Smith is speaking on CNBC.
08:32 EDTDKSUnder Armour rises after Spieth brings attention to golf gear
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06:22 EDTURBNGap, Target, others scrutinized by NY AG over staffing practices, WSJ says
Several major retailer including Gap (GPS) and Target (TGT) are under investigation by New York Attorney General Eric Schneiderman over their staffing practices and whether they require workers to show up or stay home with little notice, The Wall Street Journal reports. Schneiderman sent letters warning Abercrombie & Fitch (ANF), JC Penney (JCP), Urban Outfitters (URBN), TJX Cos (TJX), Ann Inc (ANN), L Brands (LB), Burlington Stores (BURL), Sears Holdings (SHLD), Williams-Sonoma (WSM) and J Crew Group that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. Reference Link
April 11, 2015
14:02 EDTDKSDick's Sporting to host analyst meeting
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