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Stock Market & Financial Investment News

News Breaks
December 27, 2012
06:10 EDTWLP, TOSBF, RSH, NDAQ, JCP, BBY, FTE, CBI, SHLDOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Home prices are on track to record their first yearly gain since 2006, the strongest performance since the housing bust and a development that could accelerate the real-estate rebound, the Wall Street Journal reports...While 2013 will be a tough year for retailers because of the weak economic recovery, a few in particular face a critical 12 months: Best Buy (BBY), RadioShack (RSH), Sears Holdings (SHLD) and J.C. Penny (JCP), the Wall Street Journal reports...REUTERS: This holiday season may have been the worst for retailers since the financial crisis, forcing many to offer massive post-Christmas discounts in hopes of shedding excess inventory. Shares of retailers declined yesterday, helping to pull down the broader indexes, as investors realized they were likely to be disappointed when companies start to report results, Reuters reports...Toshiba Corp. (TOSBF) is in talks with three parties, including Chicago Bridge and Iron Company (CBI), to sell a portion of its stake in its nuclear power unit Westinghouse, Reuters reports...BLOOMBERG: Nasdaq OMX Group (NDAQ), WellPoint (WLP) and France Telecom (FTE) are among 21 large companies facing potential goodwill write downs for underperforming acquisitions, Bloomberg reports...Global mergers and acquisitions jumped to the highest level in four years this quarter, as a surge in U.S. deals provided ground for optimism in what has been the worst year for takeovers since the financial crisis, Bloomberg reports.
News For BBY;RSH;SHLD;JCP;TOSBF;CBI;NDAQ;WLP;FTE From The Last 14 Days
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November 12, 2014
16:40 EDTJCPJ.C. Penney says saw slowdown in September and October
Comments from Q3 earnings conference call.
16:20 EDTJCPJ.C. Penney expects to be free cash flow positive for 2014
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16:11 EDTJCPJ.C. Penney lower by almost 3% to $7.55 after Q3 financial report
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16:09 EDTJCPJ.C. Penney reports Q3 gross margin 36.6%
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16:08 EDTJCPJ.C. Penney sees 2014 SSS 3.5 % to 4.5 %
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16:06 EDTJCPJ.C. Penney sees Q4 SSS to increase 2 %-4 %
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16:05 EDTJCPJ.C. Penney reports Q3 EPS (77c), consensus (80c)
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15:29 EDTJCPNotable companies reporting after market close
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13:32 EDTJCPEarnings Preview: J.C. Penney lowered Q3 SSS view, affirms FY14 metrics in Q3
J.C. Penney (JCP) is scheduled to report third quarter earnings after the market close on Wednesday, November 12, with a conference call scheduled for 4:30 pm ET. J.C. Penney operates about 1,100 retail stores and jcp.com. EXPECTATIONS: Analysts are looking for a loss per share of (80c) on revenue of $2.81B, according to First Call. The consensus range for EPS is (95c)-(54c) on revenue of $2.72B-$2.93B. LAST QUARTER: J.C. Penney reported second quarter adjusted EPS of (75c) against estimates for (93c), on revenue of $2.8B against estimates for $2.79B. Comparable store sales increased 6% for the quarter and online sales through jcp.com were up 16.7% from the year-ago period to $249M. On its Q2 earnings conference call, the company said that expected a "profitable" sales in the back-to-school season, adding that the company could see some "anomalies" in expense during Q3. NEWS: During the quarter, J.C. Penney announced the appointment of Marvin Ellison, EVP of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board, and succeed Myron E. Ullman, III as CEO of the company on August 1, 2015, at which time Ullman will become executive chairman of the board for a period of one year. At its analyst day in October, the retailer lowered its Q3 SSS view to low single digit growth from its previous view of mid single digit growth. J.C. Penney also warned investors that its September sales were weaker than expected. Despite lowering its SSS forecast, the retailer reaffirmed the rest of its quarterly guidance, including gross margins and SG&A expenses, and maintained all of its fiscal year 2014 guidance metrics, including mid-single digit SSS growth and positive free cash flow. STREET RESEARCH: Cleveland Research said J.C. Penney's challenging sales trends continued in October and is positioning to increase promotional activity during the holiday season. Wells Fargo, which has an Underperform rating on the stock, said that Ellison lacks expertise in apparel and accessories, where J.C. Penney is having a tough time. J.C. Penney shares could drop 35% if the company misses on sales growth estimates, Barron's said. PRICE ACTION: Over the last three months, J.C. Penney shares are down almost 20%. In morning trading today ahead of tonight's Q3 report, J. C. Penney's stock is up almost 6% to $7.61.
13:10 EDTJCPJ.C. Penney November weekly 7.5 straddle priced for 11.8% move into Q3
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08:58 EDTWLPManaged Care earnings risk low from King vs. Burwell, says Leerink
Leerink believes the Supreme Court decision to the King vs. Burwell case carries low earnings risk for Managed Care companies. The case to determine the legality of Exchange subsidies administered by the Federal Government carries less than 2% and 3% of earnings risk for 2014 and 2015 estimates, respectively, Leerink believes. The firm says Humana (HUM) and Cigna (CI) are currently losing money on Exchanges, and thus could benefit from any Federal Exchange membership loss. Leerink lists Aetna (AET), Centene (CNC), WellPoint (WLP) and Molina Healthcare (MOH) as being most impacted.
08:13 EDTNDAQBoston Biotech to hold a conference
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06:27 EDTCBICB&I sees FY15 EPS $5.75-$6.05, consensus $5.85
Sees FY15 revenue $14.8B-$15.2B, consensus $14.43B
06:27 EDTCBICB&I sees FY14 adjusted EPS $4.80-$5.65, consensus $5.18
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November 11, 2014
12:55 EDTWLPWorkarounds to likely protect insurers from Supreme Court decision, says Wedbush
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09:02 EDTJCPJ.C. Penney's challenging sales trends continue, says Cleveland Research
Cleveland Research said J.C. Penney's challenging sales trends continued in October and is positioning to increase promotional activity during the holiday season. Shares are Neutral rated.
08:34 EDTBBYBest Buy to open over 1,000 stores at 5 pm local time on Thanksgiving
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08:08 EDTCBIChicago Bridge & Iron awarded contract by Calpine Mid-Merit
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08:07 EDTCBIChicago Bridge & Iron awarded $40M contract by Coffeyville Resources
CB&I announced it has been awarded a contract valued in excess of $40M by Coffeyville Resources Refining & Marketing. The project scope includes the engineering, procurement, fabrication and field construction of a 22 million standard cubic feet per day hydrogen plant at its refinery in Coffeyville, Kansas.
06:57 EDTBBYBest Buy November volatility elevated into Q3 and holiday outlook
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