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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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November 21, 2014
16:36 EDTBBY, TGTMarket ends week higher as domestic data, foreign central banks boost shares
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15:08 EDTAMZNOptions Update; November 21, 2014
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12:31 EDTAMZNAmazon.com looking to launch new video streaming service, NY Post says
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11:30 EDTBBYGameStop plummets after Q3 results, profit outlook trail analysts' estimates
Shares of video game retailer GameStop (GME) are sinking after reporting third quarter results, as well as its fourth quarter and full year profit forecasts, that trailed analysts’ consensus estimates. WHAT'S NEW: GameStop last night reported Q3 adjusted earnings per share of 57c and revenue of $2.09B, trailing analysts' consensus estimates of 61c and $2.2B, respectively. Consolidated comparable store sales dropped 2.3% for the quarter. The company said topline and comparable store sales were negatively impacted by the delayed release of Assassin’s Creed Unity. GameStop said new hardware sales increased 147.4% during the quarter, outpacing industry growth of 102.4%. Additionally, GameStop said it reached 47.3% new software market share in Q3. WHAT’S NOTABLE: Looking ahead, GameStop forecast adjusted Q4 EPS of $2.08-$2.24, below analysts' estimates of $2.28. GameStop expects Q4 SSS to be down 5% to up 2%. The company cited several titles being moved out of 2014 and the current sales trends of prior generation software for the weak outlook. For FY14, GameStop narrowed its EPS view to $3.40-$3.55 from $3.40-$3.70, trailing analysts' estimates of $3.68. Full year comparable store sales growth is now expected to be up 2%-5%, down from its prior view of 6%-12% growth. ANALYST REACTION: This morning, research firm Telsey Advisory downgraded GameStop to Market Perform given that the previous thesis for a robust new gaming cycle has not materialized. They said soft Q3 results and lowered guidance indicate the gaming cycle is not as strong as previously thought, and lowered their price target on the shares to $45 from $51. Another firm, RW Baird, called GameStop's Q3 results disappointing, citing its accelerating declines in old generation hardware and software sales, reduced guidance and a key title delay. Baird maintained its Outperform rating on GameStop shares, but lowered its price target to $50 from $52. Janney Capital said that GameStop's mobile miss is surprising and disappointing given the iPhone 6 launch and the company's need for mobile growth to break its dependence on the game cycle. Prior-gen software declines have been steeper, pushing out the software inflection beyond Q4, which the firm said is later than expected. However, Janney maintained the value of discs will be more evident and ease concerns as game file sizes increase. The firm maintained its Buy rating on the stock, but lowered its fair value estimate to $45 from $50. PRICE ACTION: In late morning trading, GameStop fell $5.9, or 13.52%, to $37.66 on more than three times its average daily trading volume. Including today’s pullback, the stock has lost approximately 23% over the past twelve months. OTHERS TO WATCH: Other video game retailers include Best Buy (BBY), which is up 1%.
10:47 EDTAMZNAmazon reported travel entry viewed positively by Piper's Munster
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10:26 EDTBBYOptions with decreasing implied volatility
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10:01 EDTAMZNOn The Fly: Analyst Initiation Summary
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10:00 EDTEBAYOn The Fly: Analyst Downgrade Summary
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10:00 EDTBBYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Best Buy (BBY) upgraded to Outperform from Market Perform at Telsey Advisory... BlackRock (BLK) upgraded to Outperform from Market Perform at Bernstein... Cerner (CERN) upgraded to Outperform from Market Perform at Cowen... Community Health (CYH) upgraded to Outperform from Market Perform at Raymond James... Lockheed Martin (LMT) upgraded to Neutral from Sell at UBS... Teekay Offshore Partners (TOO) upgraded to Buy from Neutral at Citigroup... Trinity Industries (TRN) upgraded to Buy from Neutral at Longbow... Zebra Technologies (ZBRA) upgraded to Overweight from Neutral at JPMorgan... Ross Stores (ROST) upgraded to Hold from Sell at Maxim... St. Jude Medical (STJ) upgraded to Outperform from Market Perform at Cowen... Wolverine World Wide (WWW) upgraded to Buy from Neutral at DA Davidson... D.R. Horton (DHI) upgraded to Market Perform from Underperform at Raymond James... KB Home (KBH) upgraded to Market Perform from Underperform at Raymond James... Sony (SNE) upgraded to Overweight from Neutral at JPMorgan.
09:49 EDTAMZNAmazon.com travel entrance could help margins, says Piper Jaffray
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09:36 EDTAMZNActive equity options trading
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09:17 EDTWMTOn The Fly: Pre-market Movers
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08:23 EDTEBAYeBay downgraded to Sell from Hold at Evercore ISI
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06:43 EDTAMZNAmazon.com initiated with a Buy at Nomura
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06:38 EDTAMZNAmazon could launch travel service, Skift reports
Amazon is planning on launching a travel service, according to a report from Skift. Amazon Travel, which will go live around January 1, will feature a selection of hotels, the publication says. Reference Link
06:22 EDTBBYBest Buy price target raised to $43 from $36 at Citigroup
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06:21 EDTAMZNAmazon lease hints at same-day shipping, brick-and-mortar ambitions, WSJ says
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06:13 EDTEBAYeBay downgraded to Sell from Hold at Evercore ISI
06:11 EDTBBYBest Buy upgraded to Outperform from Market Perform at Telsey Advisory
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06:08 EDTAMZNFacebook working to expand drone team, Re/code reports
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November 20, 2014
17:21 EDTWMTSolarCity announces new power, energy storage projects with Walmart
SolarCity (SCTY) announced it has entered into contract with Walmart (WMT) for the installation of new solar projects at facilities in up to 36 states over the next four years. SolarCity has completed more than 200 solar projects at Walmart locations since 2010. SolarCity has also installed and tested energy storage projects co-located with solar power generation at 13 Walmart facilities since early 2013, and will be incorporating ten additional storage projects in the next year.
16:24 EDTBBYOn The Fly: Closing Wrap
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15:44 EDTAMZNOptions Update; November 20, 2014
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12:54 EDTBBYBest Buy strength a selling opportunity, says Evercore ISI
12:46 EDTBBYOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite disappointing purchasing managers' index readings in both China and Europe. The market took its early lead from Europe and opened lower, though the major averages moved into positive territory following a trio of better than expected domestic economic reports, as the leading economic indicators, Philadelphia Fed survey, and existing home sales all beat consensus forecasts. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 2K to 291K in the week ended November 15, versus expectations for 280K first-time claims. The Consumer Prices Index was unchanged in October, versus expectations for a drop of 0.1%. The core CPI reading, which excludes food and energy, rose 0.2%, versus expectations for an increase of 0.1%. Markit's flash manufacturing PMI slipped 1.2 points to 54.7 in November, versus the consensus forecast for a 56.5 reading. Existing home sales rose 1.5% to a 5.26M rate in October, which beat expectations for a decline to a 5.15M unit rate. The index of leading indicators climbed 0.9% to 105.2 in October, beating expectations for a 0.5% increase. The Philadelphia Fed manufacturing index surged to 40.8 in November, easily topping the consensus expectation for a 18.0 reading. In Asia, the HSBC/Markit manufacturing PMI for China fell to a six-month low of 50.0 in the flash reading for November, which is down from a final reading of 50.4 in October and below the 50.3 consensus forecast. In Europe, Markit's flash eurozone PMI composite output index, which tracks surveys from both the manufacturing and services sectors, came in at 51.4 for November, which was down from 52.1 in October and represents the measure's lowest level in 16 months. COMPANY NEWS: Shares of Best Buy (BBY) advanced 7% after its third quarter profit beat estimates and it reported that its domestic same-store sales grew 3.2%. The electronics retailer also said the sales trends it is seeing as its enters the critical fourth quarter are "encouraging from a top-line perspective." MAJOR MOVERS: Among the notable gainers was Williams-Sonoma (WSM), which rose nearly 10% after the home goods retailer's third quarter results surpassed analysts’ consensus estimates and the company raised its fiscal 2014 outlook. Also higher following its own "beat and raise" quarterly report was Kirkland's (KIRK), which advanced 18%. Among the noteworthy losers was Liquidity Services (LQDT), which dropped 9% after its fourth quarter earnings missed expectations and the company said it will no longer give yearly guidance. Also lower was Keurig Green Mountain (GMCR), which dropped 6% after its first quarter profit outlook fell short of analysts’ consensus estimates and the company's Chief Financial Officer announced plans to depart. INDEXES: Near midday, the Dow was up 7.84, or 0.04%, to 17,693.57, the Nasdaq was up 22.08, or 0.47%, to 4,697.80, and the S&P 500 was up 3.01, or 0.15%, to 2,051.73.
10:35 EDTBBYOptions with decreasing implied volatility
Options with decreasing implied volatility: DKS SPLS WB GMCR VRX HTZ WSM VIPS BBY AMAT
10:02 EDTTGTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Zoetis (ZTS) downgraded to Market Perform from Outperform at William Blair... Target (TGT) downgraded to Hold from Buy at Evercore ISI... Alexandria Real Estate (ARE) downgraded to Neutral from Outperform at RW Baird... Allscripts (MDRX) downgraded to Sector Perform from Outperform at RBC Capital... athenahealth (ATHN) downgraded to Underperform from Sector Perform at RBC Capital... Boston Properties (BXP) downgraded to Neutral from Outperform at RW Baird... Cliffs Natural (CLF) downgraded to Hold from Buy at Deutsche Bank... Cubist (CBST) downgraded to Neutral from Outperform at Credit Suisse... Denbury Resources (DNR) downgraded to Equal Weight from Overweight at Barclays... E-House (EJ) downgraded to Perform from Outperform at Oppenheimer... Owens-Illinois (OI) downgraded to Market Perform from Outperform at BMO Capital... Quality Systems (QSII) downgraded to Sector Perform from Outperform at RBC Capital... Sapient (SAPE) downgraded to Hold from Buy at Stifel... Harsco (HSC) downgraded to Hold from Buy at Argus... Credit Acceptance (CACC) downgraded to Underperform from Market Perform at JMP Securities... Liberty Media (LMCA) downgraded to Hold from Buy at Telsey Advisory.
09:21 EDTBBYOn The Fly: Pre-market Movers
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08:50 EDTBBYBest Buy says will evaluate cash position, potential buybacks after Q4
Best Buy says its knows how important that the matter of cash return is to investors, and that its use of cash will be evaluated after Q4, but also notes that its "number one priority" for its cash is investing in growth.
08:40 EDTBBYBest Buy says few stores not cash flow positive
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08:24 EDTBBYBest Buy cites strength in televisions, computing, tablets helping Q3 top-line
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07:25 EDTTGTTarget downgraded to Hold from Buy at Evercore ISI
Evercore ISI downgraded Target based on balanced risk/reward and notes competition is unlikely to abate. Price target remains $71.
07:05 EDTBBYBest Buy says internal, external factors could pressure operating income rate
CFO McCollam said "The sales trends we are seeing in our business as we enter the fourth quarter are encouraging from a top-line perspective. But to drive these results, similar to Q3, there are internal and external factors that we believe could put pressure on our operating income rate. The internal factors include: (1) the increased mix of faster growing, but lower-margin products in our revenue; (2) the potential impact of higher incentive compensation, particularly in our retail stores, based on our expected year-over-year improvement in performance; (3) higher growth in our lower-margin online channel; and (4) intensified investments in customer-facing initiatives. The external factors include: (1) an intensely promotional competitive environment; (2) a possible constraint in product availability in recent high-profile product launches; and (3) a potential supply chain disruption related to the West Coast port delays.”
07:04 EDTBBYBest Buy says total Renew Blue annualized cost reductions at $965M
Since its Q2 FY15 earnings release, Renew Blue annualized cost reductions have increased an additional $65 million, bringing the total Renew Blue annualized cost reductions to $965 million.
07:03 EDTBBYBest Buy sees Q4 revenue, SSS growth 'near-flat' y/y
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07:01 EDTBBYBest Buy reports Q3 continuing ops EPS 32c, consensus 25c
Reports Q3 revenue $9.38B, consensus $9.11B. Reports Q3 SSS up 2.2%.
06:35 EDTBBYStocks with implied volatility above IV index mean; BBY GME
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06:30 EDTAMZNAmazon using robots to help speed delivery, WSJ reports
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05:17 EDTAMZNAmazon.com to start Black Friday deals on Friday, Nov. 21
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November 19, 2014
17:38 EDTTGTTarget looks 'poised for more gains', Barron's says
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16:31 EDTTGTOn The Fly: Closing Wrap
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15:31 EDTBBYNotable companies reporting before tomorrow's open
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15:01 EDTBBYBest Buy technical comments before results
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14:25 EDTAMZNOptions Update; November 14, 2014
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13:33 EDTBBYBest Buy November 36 straddle priced for 8.2% move into Q3
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12:46 EDTTGTOn The Fly: Midday Wrap
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12:21 EDTTGTTarget CEO says 'not happy' with Target Canada performance
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11:08 EDTTGTTarget sees Q4 as 'notable infelction point'
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11:08 EDTTGTTarget says November sales so far running above plan, but still early in season
Says saw positive comps in all three months of quarter. Says saw strong start to back to school, back to college season. Says sales slowed entering October, but recovered at the end of the month. Says omnichanel, flexible fulfillment capabilities "key" to long-term success. Says smaller format stores present "exciting" opportunity for company. Says company must continue to find cost savings opportunities in years to come. Says traffic trend has improved in every quarter this year. Confident in plans for upcoming holiday season. Doesn't anticipate share repurchase in Q4. Says "feels good" about current U.S. inventory levels. Expects competitive environment to remain highly promotional this holiday season. Sees Q4 gross margin improving y/y. Says November sales so far running above plan, but still early in season. Sees Q4 U.S. SSS up about 2%. Comments made on the Q3 earnings conference call. Target shares are up 5.64% to $71.38 in morning trading.
10:11 EDTAMZNJetPay names Pete DuPré as Chief Information Officer
JetPay (JTPY) announced the hiring of Pierre "Pete" J. DuPré as Chief Information Officer of the company. DuPré will be leading the company’s efforts to expand our product offering and as well as add new functionalities to our current products and services. DuPré's most recent position was with Amazon Web Services (AMZN), where he served as a Technology Transformation Advisor.
09:39 EDTAMZNActive equity options trading on open
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09:16 EDTTGTOn The Fly: Pre-market Movers
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09:01 EDTAMZNAmazon says Fire TV Stick begins shipping today
Amazon announced that Fire TV Stick started shipping today. Fire TV Stick costs $39.
08:03 EDTTGTTarget sees FY14 adjusted EPS $3.15-$3.25, consensus $3.19
Full-year 2014 GAAP EPS is expected to be (45) cents below Adjusted EPS, reflecting: Pre-tax early debt retirement losses, recognized in interest expense, of $285 million, or (27) cents per share; Year-to-date net pre-tax data breach expenses of $140 million, or (14) cents per share; Pre-tax impairment losses of $31 million, or (3) cents per share; Pre-tax expense of $13 million, or (1) cent per share, related to Target’s decision to convert existing co-branded cards to MasterCard chip-enabled cards in 2015, and; A (5)-cent per share impact related to the expected reduction of the beneficial interest asset, partially offset by; A benefit of 5 cents per share from the favorable resolution of various income tax matters. GAAP EPS guidance does not include an estimate of future data breach-related expenses, which are not expected to be material in any individual period.
08:02 EDTTGTTarget sees Q4 adjusted EPS $1.13-$1.23, consensus $1.22
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08:02 EDTTGTTarget reports Q3 U.S. segment SSS up 1.2%
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08:00 EDTTGTTarget reports Q3 adjusted EPS 54c, consensus 47c
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07:26 EDTBBYBest Buy November volatility elevated into Q3 and holiday outlook
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06:34 EDTAMZNNielsen to begin measuring viewing of subscription video services, WSJ reports
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05:58 EDTBBYStocks with implied volatility above IV index mean; BBY SPLS
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05:15 EDTWMTWalmart to match competitors' Black Friday deals one week early
Walmart announced that for the second year, the retailer is lowering the prices on popular toys, electronics and more to match or beat select Black Friday offers from national competitors one week early. Walmart’s Pre-Black Friday Event begins Friday, Nov. 21 at 8:00 a.m. and also gives customers an early taste of Walmart’s Black Friday prices by moving up items typically found on Black Friday.
November 18, 2014
15:41 EDTTGTTarget November 67.5 straddle priced for 3.8% move into Q3
15:21 EDTTGTNotable companies reporting before tomorrow's open
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15:08 EDTTGTTarget technical comments ahead of results
The stock in the past three months has outperformed the broader averages, trading up over 14%. Most of that outperformance has been in recent days leading up to earnings. That move broke the shares out of a very narrow trading range that had persisted for two months. With the shares trading close to the 52-week high at $68.28, strong positive news or an upside surprise could propel the stock through that level and to the lifetime high at $73.50. A failure to break through the $70 area, particularly on a negative surprise, could leave the shares vulnerable to a larger than normal correction. On a long-term basis a failure at $70 would be a third attempt up that failed at resistance. Support levels to watch as potential downside objectives would be at $64.65, $61.46, and $59.57. The low of the range prior to the recent breakout was at $54.66, which is the 52-week low.
15:05 EDTAMZN, EBAYcomScore sees 2014 U.S. holiday e-commerce spending up 16% to $61B
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15:02 EDTBBYBest Buy management to meet with Jefferies
Meeting to be held in Boston on November 25 hosted by Jefferies.
15:01 EDTBBYBest Buy management to meet with B. Riley
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12:47 EDTAMZNEarnings Preview: Lowe's shares up over 15% since last earnings report
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12:44 EDTTGTEarnings Preview: Target sees FY14 adjusted EPS view of $3.10-$3.30
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09:29 EDTAMZNAmazon.com Q4 revenue tracking to $29.66, says ITG Research
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09:03 EDTWMTI.D. Systems receives three-year contract extension from Walmart
I.D. Systems (IDSY) has executed a three-year extension of its contract with Walmart Stores (WMT) to provide VeriWise trailer tracking and management services for Walmart's fleet of cargo trailers. The contract extension, which runs through October, 2017, has a maximum aggregate value of approximately $14M.
08:37 EDTEBAYeBay increasingly threatened by Alibaba, says Bernstein
After conducting research in China, Bernstein believes that Alibaba's (BABA) international expansion poses an increasing competitive threat to eBay (EBAY) Marketplaces. The firm says that 25% of eBay's gross merchandise volume is generated outside of the U.S., and it believes a significant amount of that comes from China. Bernstein believes it is possible but not likely that Alibaba will buy eBay Marketplaces after its spin off. The firm keeps a $60 price target and Outperform rating on eBay.
07:53 EDTTGTTarget November volatility elevated into Q3 and outlook
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06:04 EDTAMZNAmazon Fresh grocery delivery expands to Philadelphia
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05:26 EDTWMTDisney Movies Anywhere now available through Walmart VUDU service
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November 17, 2014
16:00 EDTAMZNOptions Update; November 17, 2014
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15:45 EDTBBYBest Buy remains a top pick for the holiday season at BofA/Merrill
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15:36 EDTEBAYSnapchat partners with Square on money messaging service, Re/code reports
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14:21 EDTTGTEarnings Preview: Home Depot shares up over 17% since last earnings report
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10:02 EDTEBAY, AMZNAmazon SSS up 36% in second week November, eBay up 10%, ChannelAdvisor says
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09:36 EDTAMZNActive equity options trading
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08:40 EDTAMZNOppenheimer technology analysts hold an analyst/industry conference call
Technology Analysts discuss Amazon's recently-held AWS re:Invent Conference, as well as implications for other cloud and software companies in the Technology sector, on an Analyst/Industry conference call to be held on November 17 at 9 am.
07:42 EDTTGTTarget looks to put massive breach in rear-view one year later, WSJ says
Encouraging signs are appearing for Target as the company looks to put its massive data breach in the rear view mirror about one year later as it reports earnings this Wednesday, said The Wall Street Journal's "The Week Ahead" column. Target shares are near 2014 highs after analysts have recently reported a pickup in foot traffic at its stores, the article noted. Reference Link
07:39 EDTBBYBest Buy price target raised to $42 from $35 at Stifel
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07:05 EDTBBYBest Buy price target raised to $40 from $36 at RBC Capital
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November 14, 2014
17:07 EDTBBYSoros Fund Management gives quarterly update on stakes
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17:01 EDTEBAYIcahn Associates gives quarterly update on stakes
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16:58 EDTEBAYThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
16:39 EDTWMTBerkshire Hathaway gives quarterly update on stakes
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16:26 EDTWMTNasdaq clear leader as major averages end week higher
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14:46 EDTWMTDisney movies service partnering with Wal-Mart's Vudu, Reuters reports
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11:48 EDTBBYStocks with call strike movement; GILD BBY
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10:00 EDTWMTOn The Fly: Analyst Downgrade Summary
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09:38 EDTEBAYJANA Partners gives quarterly update on stakes
NEW STAKES: AMD (AMD), AECOM Technology (ACM), Alibaba (BABA), McDonald's (MCD), Amgen (AMGN), Gaming and Leisure Properties (GLPI), Iron Mountain (IRM), iRobot (IRBT), Seadrill Partners (SDLP), Valeant (VRX). INCREASED STAKES: eBay (EBAY), Charter (CHTR), Groupon (GRPN), HD Supply (HDS), Hertz (HTZ). DECREASED STAKES: Apache (APA). LIQUIDATED STAKES: CBS (CBS), Endo (ENDP), FMC Corporation (FMC), SeaWorld (SEAS), SunEdison (SUNE).
09:38 EDTAMZNActive equity options trading
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07:44 EDTTGTTarget November volatility elevated at 29 into Q3 and outlook
Target November call option implied volatility is at 29, December is at 21, January is at 16; compared to its 26-week average of 19 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 19.
07:37 EDTWMTWal-Mart price target raised to $91 from $83 at UBS
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07:36 EDTBBYBest Buy price target raised to $36 from $32 at UBS
UBS raised its price target on Best Buy to $36 from $32 ahead of its Q3 results. The firm sees a favorable near-term set-up, citing the company's cash balances, selection of premium products, and focused strategy of promotions deployment and expenses. UBS reiterates its Buy rating on Best Buy shares.
07:27 EDTWMTWal-Mart price target raised to $92 from $82 at BofA/Merrill
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06:49 EDTWMTWal-Mart downgraded to Underperform from Market Perform at BMO Capital
06:16 EDTAMZNEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
November 13, 2014
16:36 EDTWMTOn The Fly: Closing Wrap
Stocks on Wall Street saw another day of relatively quiet trading in a tight range, but the major averages once again finished the session higher than where they'd began. The Dow, powered by the post-earnings advance from Wal-Mart (WMT), led and closed at a new all-time high for the third time in the last four days. ECONOMIC EVENTS: In the U.S., initial jobless claims rebounded 12K to 290K in the week ending November 8, versus expectations for 280K first-time claims. The Job Openings and Labor Turnover Survey, or JOLTs report, showed job openings fell to 4.335M in September, versus the consensus forecast for 4.8M openings. The Treasury reported a $121.7B budget deficit for October, versus the consensus deficit forecast of $117B. COMPANY NEWS: Wal-Mart led the Dow, advancing $3.74, or 4.72%, to $82.94 after the world's largest retailer's earnings beat expectations and it reported U.S. comparable store sales grew 0.5% during the just-completed quarter... Warren Buffett’s Berkshire Hathaway (BRK.A) agreed to acquire the Duracell battery business from Procter and Gamble (PG) via a stock swap. In exchange for a recapitalized Duracell company, which will include approximately $1.7B in cash at closing, P&G will receive shares of its own common stock currently held by Berkshire having a current value of approximately $4.7B, the companies announced. Shares of Procter & Gamble, which also guided to FY15 core EPS growth in a mid-single digit percentage range, fell 88c, or 0.98%, to $88.60 after the deal was announced and guidance was issued. MAJOR MOVERS: Among the notable gainers was Baker Hughes (BHI), which surged $7.77, or 15.24%, to $58.75 after The Wall Street Journal said the company is in fast-moving talks to be acquired by larger peer Halliburton (HAL), which also rose 56c, or 1.05%, to $53.79 following the report. Also higher was DreamWorks Animation (DWA), which jumped $3.15, or 14.08%, to $25.52 after several media outlets reported that the animated movie maker company was in talks about selling itself to toy maker Hasbro (HAS). Hasbro shares fell $2.49, or 4.33%, to $54.98 following the reports. Also lower were shares of Revance (RVNC), which fell $4.93, or 23.48%, to $16.07 after the company said last night that the preliminary results from its ongoing open-label study suggest it still has "some work to do" to increase the probability of success for its upcoming Phase 3 pivotal program for RT001. INDEXES: The Dow rose 40.59, or 0.23%, to 17,652.79, the Nasdaq gained 5.01, or 0.11%, to 4,680.14, and the S&P 500 added 1.08, or 0.05%, to 2,039.33.
16:03 EDTAMZNOptions Update; November 13, 2014
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12:44 EDTWMTOn The Fly: Midday Wrap
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11:43 EDTAMZNAmazon.com, Hachette end dispute, New York Times reports
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10:35 EDTSCORcomScore management to meet with Oppenheimer
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09:40 EDTWMTActive equity options trading
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09:30 EDTEBAYDiscover COO says U.S. consumer 'not great'
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07:19 EDTWMTWal-Mart up 1.3% to $80.25 in pre-market following Q3 earnings beat
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07:07 EDTWMTWal-Mart sees Q4 EPS $1.46-$1.56, consensus $1.57
For the 13-week period ending Jan. 30, 2015, Walmart U.S. expects comp store sales to be between flat and 1%. Sam's Club expects comp sales, excluding fuel, for the 13-week period to be between flat and 2%.
07:06 EDTWMTWal-Mart narrows FY14 EPS view to $4.92-$5.02 from $4.90-$5.15
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07:03 EDTWMTWal-Mart reports Q3 continuing ops EPS $1.15, consensus $1.12
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06:20 EDTAMZNAmazon's Web-services chief not threatened by cash threat from rivals, WSJ says
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06:09 EDTWMTWal-Mart Canada planning to cut 200 jobs, Globe and Mail reports
Wal-Mart Canada is planning to cut 200 jobs, mostly at its head office in Mississauga, the Globe and Mail reports. The reduction is expected to be announced next week and follows disappointing earnings at the Wal-Mart unit over the past few quarters. Reference Link
November 12, 2014
16:00 EDTAMZN, WMTOptions Update; November 12, 2014
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15:48 EDTWMTWal-Mart November weekly 79 straddle priced for 2% move into Q1
15:29 EDTWMTNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.12; Viacom (VIAB), consensus $1.68; Tyco (TYC), consensus 56c; Kohl's (KSS), consensus 74c; Helmerich & Payne (HP), consensus $1.67; Sally Beauty (SBH), consensus 40c; Manulife Financial (MFC), consensus 40c; TransDigm (TDG), consensus $2.02; MAXIMUS (MMS), consensus 52c.
15:04 EDTWMTWal-Mart technical comments before earnings
The key technical feature on the chart is easily seen on a 5-year chart. Since early 2013 the shares have been trading in a sideways channel bound largely by $70 at the low and $80 at the high. Those bounds become the key levels to watch for post-earnings trading. A move above $80, and preferably above the life high at $81.37, would signal a new leg up had begun. It would in effect be a range breakout with the potential for a move to the $90 area over time based on the height of the channel. The stock is pushing up toward that level ahead of earnings. Equally, a major disappointment could send the shares to the low of the range at $70. That area would still need to be broken to the downside to break the range, with an eventual move to $65 possible if it was broken. If the news is insufficiently strong to push price out of the range, it will likely continue in this trading range for some time awaiting a new catalyst.
13:47 EDTAMZN, WMTEarnings Preview: Wal-Mart sees FY15 net sales up 2%-3% vs. last year
Wal-Mart Stores (WMT) is scheduled to report third quarter earnings before the market open on Thursday, November 13, with a conference call scheduled for 7:00 am ET. Wal-Mart, a member of the Dow Jones Industrial Average, operates retail stores in various formats under 69 different banners in 27 countries with its "everyday low price" philosophy. EXPECTATIONS: Analysts are looking for earnings per share of $1.12 on revenue of $118.35B, according to First Call. The consensus range for EPS is $1.08-$1.17 on revenue of $115.17B-$119.67B. LAST QUARTER: Wal-Mart reported second quarter EPS of $1.21, in line with estimates, on revenue of $119.3B, against estimates of $119B. Walmart U.S. comp sales were flat for the 13-week period ended August 1, and U.S. net sales increased $1.9B, or 2.7%, to over $70B. Currency exchange rate fluctuations negatively impacted net sales by approximately $700M, the company said. Wal-Mart forecast Q3 EPS of $1.10-$1.20, with U.S. comp store sales relatively flat and Sam's Club comp sales, excluding fuel, slightly positive. and increased investments in Sam's Club membership programs. The company lowered its fiscal year 2015 EPS view to $4.90-$5.15 from $5.10-$5.45, against estimates at that time of $5.15. The new full year guidance reflects incremental investments in e-commerce and higher U.S. health-care costs than previously anticipated. The annual effective tax rate is projected to be between 32%-34%. NEWS: On its Q2 earnings conference call, Wal-Mart lowered its FY15 e-commerce sales growth forecast to 25%. In mid-October, Wal-Mart said that as a result of a tougher sales environment than it anticipated a year ago, it now expects to grow net sales for FY15 between 2%-3% on last year’s $473.1B. 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 company sees fiscal year 2016 net sales growth of 2%-4%, or approximately $10B-$20B of net sales growth. The company said FY16 operating expenses will grow at a rate "somewhat faster" than sales growth and operating income will be flat to slightly down. Chief Executive Officer Doug McMillon said the company will invest less in stores and more in e-commerce. Wal-Mart sees FY15 capital investments of $12.5B-$13B and FY16 capital investments $11.6B-$12.9B. Wal-Mart also sees FY16 e-commerce and digital spending of $1.2B-$1.5B. Ahead of a holiday shopping season that may be fiercely promotional, Wal-Mart is testing a program to match online prices from rivals including Amazon.com (AMZN), reported the Wall Street Journal. The company announced the "New Black Friday" will include five days of deals. STREET RESEARCH: Cleveland Research said Wal-Mart's trends softened in September and October following a strong August driven by soft traffic and less promotional activity. The firm believes Wal-Mart is positioned to maintain share during the holidays, but sees "growing caution" on the consumer spending outlook. Baird said expectations for Wal-Mart appear to be muted into the Q3 report. The firm believes sales may remain lackluster and margins may slip in the near-term, but sees international as an opportunity. During the quarter, shares were initiated with a Neutral rating at Sterne Agee. PRICE ACTION: Wal-Mart shares are up 6.9% over the last three months but are only up 0.8% year-to-date. In early afternoon trading, Wal-Mart shares are up 0.4% to $79.35.
12:55 EDTAMZNAmazon to expand its R&D in Cambridge, UK, TechCrunch reports
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12:15 EDTWMTWal-Mart November weekly 79 straddle priced for 2% move into Q1
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11:58 EDTWMTWal-Mart weekly volatility elevated into Q3 and holiday outlook
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09:37 EDTAMZNActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
07:37 EDTTGTTarget shares overvalued, says MKM Partners
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06:46 EDTWMTWal-Mart reminds stores to display fresh grocery products, NY Times says
Wal-Mart last month issued a memo to managers around the U.S., telling them to discount older meat and baked goods to ensure that they sell before they reach their expiration dates, according to The New York Times. The memo also reminds managers to remove expired dairy products and eggs, as well as moldy or rotting produce, from shelves, and reduce inventory, the newspaper stated. Reference Link
05:24 EDTWMTWal-Mart announces 'New Black Friday' event, holiday pay for associates
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November 11, 2014
16:01 EDTAMZNOptions Update; November 11, 2014
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09:37 EDTEBAY, AMZNeBay October SSS up 4.4%, Amazon SSS up 32.4%, ChannelAdvisor says
ChannelAdvisor released October same-store sales data for eBay (EBAY) and Amazon (AMZN) in a blog post. The research company reported eBay's October SSS growth came in at 4.4%, down from September's 8.9% and below the e-commerce growth rate of about 15% reported by ComScore. Amazon's October SSS growth came in at 32.4%, which was a decrease compared to August's 37.9% rate, ChannelAdvisor stated. Reference Link
08:34 EDTBBYBest Buy to open over 1,000 stores at 5 pm local time on Thanksgiving
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08:15 EDTEBAYAlibaba says willing to collaborate with PayPal in future, Bloomberg reports
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06:57 EDTBBYBest Buy November volatility elevated into Q3 and holiday outlook
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06:03 EDTAMZNQ4 global tablet shipments estimated at 74.5M units, DigiTimes reports
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November 10, 2014
16:00 EDTWMTOptions Update; November 10, 2014
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15:57 EDTEBAYWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
15:44 EDTAMZNAmazon Web Services to hold a conference
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12:36 EDTWMTAbercrombie, American Eagle sink after analyst downgrades
Shares of specialty teen apparel retailers Abercrombie & Fitch (ANF) and American Eagle Outfitters (AEO) are falling after a number of analysts issued negative notes on the companies. WHAT'S NEW: Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Perform from Outperform. The company's earnings outlook has become less clear as its U.S. brand has not yet become popular, and retail brand turnarounds usually take awhile, Oppenheimer analyst Anna Andreeva wrote in a note to investors. Additionally, Abercrombie's international business, which has deteriorated further this year, faces "mounting uncertainty,” the analyst stated. The analyst slashed her price target on the name to $30 from $50. Meanwhile, Barclays analyst Matthew McClintock downgraded American Eagle Outfitters to Equal Weight from Overweight. McClintock has become more pessimistic about the outlook for American Eagle's comparative store sales in the second half of 2014, given recent data points from a number of retailers, including Abercrombie & Fitch, Kohl's (KSS), Wal-Mart (WMT), J.C. Penney (JCP), and Ann Inc. (ANN). The analyst said he saw no reason why American Eagle should significantly outperform the overall apparel sector. McClintock cut his price target on the name to $11 from $15. Meanwhile, the analyst lowered his rating on the Softline Retail sector to Negative from Positive, as he believes that the sector, which includes companies that sell products like apparel, towels, and jewelry - is facing structural difficulties that are likely to persist for the next several years. Separately, research firm Janney Capital downgraded Abercrombie to Neutral from Buy in a note to investors today. PRICE ACTION: In early afternoon trading, Abercrombie & Fitch sank 3.5% to $28.50 and American Eagle dropped 4% to $12.40.
10:04 EDTTGTOn The Fly: Analyst Upgrade Summary
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09:00 EDTWMTWal-Mart weekly volatility increases into Q3 and holiday outlook
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08:23 EDTWMTWal-Mart expectations appear muted heading into earnings, says RW Baird
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08:08 EDTTGTTarget upgraded at Stifel
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05:54 EDTTGTTarget upgraded to Buy from Hold at Stifel
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November 9, 2014
18:41 EDTWMTWal-Mart to focus on food safety in China, Reuters says
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16:55 EDTWMTWal-Mart China sales impacted by country's austerity program, WSJ says
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November 8, 2014
14:03 EDTAMZNJefferies software and internet analysts hold a dinner meeting
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November 7, 2014
16:00 EDTAMZNOptions Update; November 7, 2014
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14:04 EDTBBYBest Buy November volatility elevated into Q3 and holiday outlook
Best Buy November call option implied volatility is at 52, December is at 40, January is at 38, March is at 36; above its 26-week average of 39 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 20.
13:05 EDTTGTTarget upgraded at Cleveland Research
As previously reported, Cleveland Research upgraded Target to Buy from Neutral. The analyst said Target sales seem to have improved in Q3 vs. peers and continues to see upside to consensus comp store sales estimates for Q3 and is optimistic on Q4 outlook.
11:58 EDTWMTWal-Mart call activity attributed to activist investor speculation
Wal-Mart November 80 and 81 call active of total call volume of 25K contracts (1K puts) is attributed to activist investor speculation. November call option implied volatility is at 19, December and January is at 12; compared to its 26-week average of 14 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
11:20 EDTWMTRumor: Wal-Mart strength attributed to activist investor speculation
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10:16 EDTSCORcomScore management to meet with Brean Capital
Meetings to be held in San Francisco on November 12 and in Chicago on November 13 hosted by Brean Capital.
10:00 EDTTGTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Resources (AR) upgraded to Overweight from Equalweight at Capital One... CA Technologies (CA) upgraded at Evercore ISI... CGG SA (CGG) upgraded to Hold from Sell at Canaccord... Cavium (CAVM) upgraded to Strong Buy from Outperform at Raymond James... Charter (CHTR) upgraded to Outperform from Market Perform at Raymond James... Chesapeake (CHK) upgraded to Overweight from Equal Weight at Johnson Rice... Container Store (TCS) upgraded at BofA/Merrill... Delhaize (DEG) upgraded to Neutral from Underperform at BofA/Merrill... Devon Energy (DVN) upgraded to Accumulate from Hold at Tudor Pickering... Dynegy (DYN) upgraded to Accumulate from Hold at Tudor Pickering... EOG Resources (EOG) upgraded to Buy from Accumulate at Tudor Pickering... Envestnet (ENV) upgraded at Raymond James... GNC Holdings (GNC) upgraded to Buy from Neutral at Goldman... Hospira (HSP) upgraded at Raymond James... Kinross Gold (KGC) upgraded to Buy from Neutral at UBS... Kosmos (KOS) upgraded at RBC Capital... Nationstar (NSM) upgraded to Market Perform from Underperform at Wells Fargo... Northern Oil and Gas (NOG) upgraded at Raymond James... Perrigo (PRGO) upgraded to Overweight from Equal Weight at Morgan Stanley... PetSmart (PETM) upgraded to Hold from Sell at Deutsche Bank... Plains GP Holdings (PAGP) upgraded at Credit Suisse... Rosetta Resources (ROSE) upgraded to Accumulate from Hold at Tudor Pickering... Splunk (SPLK) upgraded to Buy from Hold at Evercore ISI... Sunoco Logistics (SXL) upgraded to Buy from Neutral at UBS... Target (TGT) upgraded to Buy from Neutral at Cleveland Research... Walker & Dunlop (WD) upgraded to Outperform from Market Perform at Wells Fargo... XO Group (XOXO) upgraded to Buy from Neutral at B. Riley... Zynga (ZNGA) upgraded to Buy from Hold at Needham.
09:36 EDTAMZNActive equity options trading
Active equity options trading according to Track Data: AAPL WFM ABX GILD TSLA ZNGA FB FSLR GOOG AMZN
09:14 EDTTGTTarget upgraded to Buy from Neutral at Cleveland Research
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08:46 EDTAMZNCord cutting accelerates as pay-TV loses 179K customers in Q3, WSJ reports
The pay-TV industry lost about 179K customers in Q3, which is steeper than the decline of 83K in the same quarter of last year, reported The Wall Street Journal, citing company reports and estimates from research firm MoffettNathanson. Companies that provide television service include AT&T (T), Verizon (VZ), DISH (DISH), Charter (CHTR), DirecTV (DTV), Cablevision (CVC), Comcast (CMCSA) and Time Warner Cable (TWC). Netflix (NFLX) and Amazon (AMZN) provide television and movie streaming services that compete with broadcast and cable television network offerings. Reference Link
06:18 EDTEBAYAOL downgraded to Neutral from Buy at Citigroup (yesterday)
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