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Stock Market & Financial Investment News

News For AMZN;EBAY;BBY;WMT;TGT;SCOR From The Last 14 Days
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October 15, 2014
17:12 EDTEBAYeBay cites slower Marketplace growth, FX headwinds for reduced guidance
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17:09 EDTEBAYeBay says PayPal on pace to process 1B mobile transaction this year
Comment from company Q3 earnings call.
16:37 EDTWMTOn The Fly: Closing Wrap
The market opened sharply lower amid sliding oil prices, worse than expected economic data, and the potential for a major M&A deal to fall apart due to tax inversion rule changes. The Dow fell more than 350 points within the first 30 minutes of trading, but then bounced back to move above its opening level. The volatility did not end there, however, as the market swung several more times during the session. The S&P 500's drop wiped out its gains for the year at one point, but a late day rally significantly cut the losses for the major averages. ECONOMIC EVENTS: In the U.S., retail sales, which were expected to be down 0.1% in September, actually fell 0.3% in the month and slipped 0.2% excluding autos. The Producer Price Index for final demand decreased a seasonally adjusted 0.1% in September from the prior month, marking the first decline in the measure in over a year. The core PPI reading, which excludes food and energy, was unchanged, versus expectations for a 0.1% rise. New York's Empire State manufacturing index fell 21.4 points to 6.2 in October, severely missing the expectation for a narrower pullback to a reading of 20. Business inventories rose 0.2% in August, versus expectations for an increase of 0.4%. In China, the consumer price index climbed 1.6% in September from a year earlier, which was below the consensus projection for 1.7% inflation and down from 2% inflation in August. China's PPI plunged 1.8% year-over-year in September, which was more than the 1.6% slide expected and an acceleration of the 1.2% year-on-year decline in August. COMPANY NEWS: Shares of Shire (SHPG) plunged $74.08, or 30.29%, to $170.49 after AbbVie's (ABBV) board last night stated that it was reconsidering its recommendation that the company's shareholders back a takeover of Irish drugmaker in light of the potential impact of tax rule changes on the deal. During the day, Bloomberg reported that people familiar with the matter say AbbVie is close to abandoning its $51B takeover bid, while Shire announced that it has agreed to waive the requirement for three business days' notice for AbbVie's board to meet to consider its offer. In contrast, AbbVie ended the session up 50c, or 0.92%, at $54.63... Wal-Mart (WMT) held its annual meeting, during which it lowered its fiscal year 2015 net sales growth forecast to 2%-3%, citing a tougher sales environment than it anticipated a year ago. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The world's largest retailer also cut its planned retail square foot growth expectations, due to a moderation of large format store growth and accelerated e-commerce investments. Following the outlook revisions, Wal-Mart closed down $2.78, or 3.57%, to $75.20. MAJOR MOVERS: Among the notable gainers was Penford Corporation (PENX), which jumped $7.60, or 69.15%, to $18.59 after the company agreed to be acquired by Ingredion (INGR) for $340M, or $19.00 in cash per share. Also higher was Southwestern Energy (SWN), which rose $2.59, or 7.82%, to $35.69 after it was among a number of oil and gas exploration and production names upgraded by analysts at Bank of America Merrill Lynch. Among the noteworthy losers was Nu Skin (NUS), which dropped $4.47, or 9.13%, to $44.50 after the company disclosed new debt arrangements that come with certain restrictions, including restrictions on the payment of dividends. Also lower were shares of Covidien (COV), which fell $6.50, or 7.04%, to $85.86 in the wake of the news for Shire and AbbVie, which investors may have read as jeopardizing Covidien's deal to be bought by Medtronic (MDT). Note that on October 3 Medtronic announced that it intends to use approximately $16B in external financing to complete the acquisition of Covidien and said the strategic benefits of the transaction "remain compelling" despite the additional expense of the new financing. INDEXES: The Dow dropped 173.45, or 1.06%, to 16,141.74, the Nasdaq slipped 11.85, or 0.28%, to 4,215.32, and the S&P 500 fell 15.21, or 0.81%, to 1,862.49.
16:30 EDTEBAYeBay sees FY14 EPS at low end of $2.95-$3.00, consensus $2.97
16:28 EDTEBAYeBay sees FY14 EPS at the lower end of guidance
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16:19 EDTEBAYeBay lower by almost 5% to $48 after reporting Q3 results and guidance
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16:18 EDTEBAYeBay lowers FY14 revenue view to $17.85 - $17.95, consensus $18.15B
16:17 EDTEBAYeBay sees Q4 EPS 88c-91c, consensus 91c
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16:16 EDTEBAYeBay reports Q3 EPS 68c, consensus 67c
Reports Q3 revenue $4.35B, consensus $4.37B.
16:00 EDTAMZNOptions Update; October 15, 2014
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15:29 EDTWMTWal-Mart to add 26M-30M net retail square feet worldwide in FY16
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15:28 EDTEBAYNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.36; eBay (EBAY), consensus 67c; Kinder Morgan (KMI), consensus 34c; Kinder Morgan Energy Partners (KMP), consensus 64c; Kinder Morgan Management (KMR), consensus 58c; El Paso Pipeline Partners (EPB), consensus 39c; Netflix (NFLX), consensus 93c; United Rentals (URI), consensus $2.08; Navient (NAVI), consensus 52c; Las Vegas Sands (LVS), consensus 58c; Umpqua Holdings (UMPQ), consensus 29c; Astoria Financial (AF), consensus 16c; Rambus (RMBS), consensus 5c.
15:28 EDTWMTWal-Mart sees FY16 e-commerce, digital spending of $1.2B-$1.5B
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15:26 EDTWMTWal-Mart sees FY15 capital investments between $12.5B-$13.0B
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15:22 EDTWMTWal-Mart sees FY16 net sales growth of 2%-4%
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15:19 EDTWMTWal-Mart lowers FY15 net sales growth forecast to 2%-3%
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15:16 EDTWMTWal-Mart drops 4% after giving guidance at analyst day meeting
14:17 EDTEBAYeBay technical comments ahead of earnings
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14:01 EDTBBYIntel launches 'Intel Experience' exclusively in 50 Best Buy stores
Intel (INTC) has launched “The Intel Experience” exclusively in 50 Best Buy (BBY) retail stores nationwide. The hands-on experience zone gives everyone the opportunity to try, explore and play with the latest, cutting-edge technologies like 3-D printing, gaming meets augmented reality, and digital disc jockey remixing.
13:21 EDTAMZNAmazon investor sentiment near all-time lows, analyst says
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