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Stock Market & Financial Investment News

News Breaks
December 3, 2012
05:55 EDTAZO, AZO, BIG, BIG, TAX, TAX, TOL, TOL, MTN, MTNCompanies reporting Before the Market Open on Tuesday, December 4
Notable companies reporting before the opening bell on Tuesday include Autozone (AZO), Big Lots (BIG), JTH Holding (TAX), Toll Brothers (TOL), and Vail Resorts (MTN).
News For AZO;BIG;TAX;TOL;MTN From The Last 14 Days
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August 25, 2015
16:43 EDTTOLOn The Fly: Top stock stories for Tuesday
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13:00 EDTTOLToll Brothers lags market rebound after reporting Q3 results
Shares of luxury home builder Toll Brothers (TOL) are trading lower after reporting third quarter profit and revenue that were lower than last year's Q3 results. WHAT'S NEW: Toll Brothers this morning reported Q3 earnings per share of 36c, well below the 53c the company reported in the year-ago quarter. Revenue for the quarter of $1.03B and deliveries of 1,419 units declined 3% in dollars and 2% in units from the year-ago level, while impairments rose to $18M from $6M in the year-ago quarter. Analysts were expecting Toll Brothers to report Q3 EPS of 49c on revenue of $1.05B. The company said that the average price of homes delivered was $724,000, compared to $732,000 in 3Q14. Looking ahead, Toll Brothers forecast fourth quarter deliveries of 1,645-1,945 units priced between $780,000-$800,000. The company also lowered the top end of its 2015 home deliveries forecast, and now sees deliveries of 5,350-5,650 homes compared to its prior forecast of 5,300-5,900 homes. Separately, The Commerce Department reported new home sales for July were up 5.4% to an annual pace of 507,000, which fell within the range of expectations. WHAT'S NOTABLE: On quarterly earnings conference call, Toll Brothers said it still sees net income and gross margin growth in 2016. The company added that the housing recovery is built on a "very solid foundation." The steady acceleration the industry is experiencing bodes well for the health of housing market due to pent-up demand, increasing household formations and current industry-wide production, the company said. The home builder said that there is "significant room" for growth with increased profitability in fiscal year 2016 and beyond. Toll also said it sees further consolidation in the sector. OTHERS TO WATCH: Other companies in the home building space include Lennar Corporation (LEN) PulteGroup (PHM), Hovnanian Enterprises, (HOV) and Ryland Group (RYL). PRICE ACTION: Shares of Toll Brothers are down 0.5% to $37.87 amid a broader market advance.
11:54 EDTTOLToll Brothers sees further consolidation in home builder sector
11:51 EDTTOLToll Brothers says continues to have 'terrific' pricing power
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11:22 EDTTOLToll Brothers says 'careful,' 'opportunistic' about land spend
11:18 EDTTOLToll Brothers says housing market remains on an upward trend
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11:18 EDTTOLToll Brothers says still sees net income, gross margin growth in 2016
Says that for the first four weeks of August, contracts in units are up 16% vs. last year. Says seeing strength in "active adult" communities. Says rental apartment business continues to outperform expectations. Says plans to expand rental apartment business nationally. Says housing recovery built on "very solid foundation." Says slow but steady acceleration industry is experiencing bodes well for health of housing market due to pent up demand, increasing household formations, current industry wide production. Says has "significant room" for growth, increased profitability in FY16 and beyond. Says "very optimistic" about future. Sees Q4 tax rate approx. 31%, FY tax rate around 32% vs. previous view of around 31%. Still sees net income, gross margin growth in 2016. Comments made on the Q3 earnings conference call. Toll Brothers is fractionally lower at $38.05 in morning trading.
08:05 EDTAZOAutoZone identified as defensive name at Citi
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05:34 EDTTOLToll Brothers sees FY15 deliveries 5,350-5,650 units priced between $745K-$760K
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05:33 EDTTOLToll Brothers sees Q4 deliveries 1,645-1,945 units priced between $780K-$800K
05:32 EDTTOLToll Brothers reports Q3 EPS 36c, may not compare to consensus 49c
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August 24, 2015
15:09 EDTTOLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Best Buy (BBY), consensus 34c... Toll Brothers (TOL), consensus 49c... Valspar (VAL), consensus $1.26... DSW (DSW), consensus 42c... Children's Place (PLCE), consensus (33c).
13:01 EDTTOLEarnings Watch: UBS positive on Toll Brothers ahead of Q3 results
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12:45 EDTTOLToll Brothers technical comments before earnings
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09:45 EDTAZOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
08:56 EDTAZOAutoZone upgraded to Buy on comp outlook, strong industry trends at BofA/Merrill
As previously reported, BofA/Merrill upgraded AutoZone to Buy from Neutral with an $865 price target. The firm raised estimates on a higher comp outlook, saying it expects strength in miles driven due to lower fuel prices and increased employment. BofA/Merrill expects distribution initiatives to increase parts availability, especially in commercial, where the company is under-penetrated. The firm sees strong industry trends ahead and comp growth of 3.3% over the next few years, which should narrow the valuation gap versus peers.
07:25 EDTAZOAutoZone upgraded to Buy from Neutral at BofA/Merrill
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August 21, 2015
11:24 EDTTAXIntuit plummets after Q1, FY16 outlooks trail estimates
Shares of tax preparation software provider Intuit (INTU) are sinking after the company's first quarter and fiscal 2016 outlooks significantly trailed analyst's consensus estimates. WHAT'S NEW: After the close on Thursday, Intuit reported fourth quarter adjusted earnings per share of (5c) and revenue of $696M, compared to analysts' consensus estimates of (12c) and $738.98M, respectively. In the U.S., TurboTax Online units increased 11% and total TurboTax units grew 7%, excluding the Free File Alliance, the company said. Additionally, Intuit said it reached 1.075M QuickBooks Online subscribers through the end of Q4 and increased total QuickBooks online subscribers by 57% for the year. Brad Smith, Intuit's president and Chief Executive Officer said the company closed out fiscal year 2015 "on a strong note," adding that the company's small business momentum "continues to build and our QuickBooks Online ecosystem growth is accelerating." Looking ahead, Intuit said it expects Q1 adjusted EPS of (4c)-(3c) and revenue of $660M-$680M, well below analysts' consensus estimates of of 6c and $776.36M, respectively. For FY16, the company expects adjusted EPS of $3.40-$3.45 and revenue of $4.53B-$4.6B, far short of the consensus of $3.82 and $5.04B, respectively. WHAT'S NOTABLE: In its earnings release, Intuit announced its intent to divest Demandforce, QuickBase and Quicken. The divestment will help Intuit "focus on and invest in businesses that strengthen the ecosystem and align with two strategic goals: to be the operating system behind small business success, and to do the nations' taxes in the U.S. and Canada," the company said. As a result of the decision, the company said FY16 adjusted EPS will be reduced by about 10c and revenue will be reduced by approximately $250M, as the company reports these assets as discontinued operations. Separately, Intuit raised its dividend for the first quarter by 20% to 30c per share, payable on October 19. ANALYST REACTION: First Analysis analyst James Macdonald downgraded Intuit this morning to Underweight from Equal Weight. Macdonald said Intuit's small business online ecosystem has "relatively low monetization." PRICE ACTION: In late morning trading, Intuit fell $10.80, or 10.41%, to $92.23 on more than twice its average daily trading volume. Despite today's pull back, the shares have gained approximately 5% over the past year. OTHERS TO WATCH: Other companies in the tax preparation space include Liberty Tax (TAX), up 0.16%, and H & R Block (HRB), down 1.5%.
07:48 EDTTOLToll Brothers August volatility elevated into Q3 and outlook
Toll Brothers August weekly call option implied volatility is at 38, September is at 30, December is at 26; compared to its 52-week range of 20 to 34, suggesting large near term price movement into the expected release of Q3 results on August 25.
August 20, 2015
07:46 EDTTOLToll Brothers among best positioned builders, says UBS
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