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News For BBY;NFLX From The Last 14 Days
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November 20, 2014
16:24 EDTBBYOn The Fly: Closing Wrap
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14:52 EDTNFLXNetflix to discuss future of TV with top industry executives, Re/code says
Netflix is holding a summit about the future of TV next month, according to Re/code The company invited many of the leading executives from the TV and film industries to the private event, the website added. Reference Link
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
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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07:05 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%.
06:48 EDTNFLXNetflix's Kelly Merryman to join YouTube, TechCrunch reports
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06:39 EDTNFLXStocks with implied volatility below IV index mean; GNW NFLX
Stocks with implied volatility below IV index mean; Genworth (GNW) 53, Netflix (NFLX) 31 according to iVolatility.
06:35 EDTBBYStocks with implied volatility above IV index mean; BBY GME
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November 19, 2014
19:16 EDTNFLXNetflix orders fourth season of Longmire
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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 EDTNFLXOptions Update; November 14, 2014
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