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Stock Market & Financial Investment News

News Breaks
January 17, 2014
05:42 EDTJCP, HD, TGT, BBY, SHLD, WMT, EXPR, URBNE-commerce takes store sales, alters shopping habits, WSJ reports
As retailers faced a difficult holiday, other changes have been at work, reports the Wall Street Journal. A long-term change in shopper habits has reduced store traffic and shifted pricing power away from malls and big-box retailers. Strategic moves to offset consumers' attention on e-commerce is a challenge that brick-and-mortar retailers have battled with for years but they don't appear to be working. The changes could be permanent. Reference Link
News For BBY;URBN;WMT;TGT;EXPR;SHLD;JCP;HD From The Last 14 Days
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April 11, 2014
14:26 EDTSHLD, JCPCBL & Associates expects more J.C. Penney closures
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07:09 EDTWMTLi & Fung collaborates with Citigroup on brand unit spinoff, Bloomberg says
Li & Fung (LFUGF)) is said to be collaborating with Citigroup (C) to spin off its brands division, which is valued at nearly $2B, according to Bloomberg, citing people with knowledge of the matter. The company's brand unit sells clothing and toys to retailers such as Wal-Mart (WMT) and Kohl's (KSS). Reference Link
April 10, 2014
16:06 EDTBBYZynga CFO Vranesh leaving company, Best Buy's Lee to succeed as CFO
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13:14 EDTWMTFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
11:31 EDTEXPROptions with increasing implied volatility: EXPR NEE
06:13 EDTWMTWal-Mart to carry Wild Oats organic food items
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April 9, 2014
10:37 EDTHDBofA/Merrill's retail/hardline analysts hold an analyst/industry conference call
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09:10 EDTWMTWal-Mart to purcahse energy-efficient LED ceiling lighting fixtures from GE
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08:05 EDTURBNUrban Outfitters long-term outlook positive, says Wedbush
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April 8, 2014
11:42 EDTJCPStocks with call strike movement; P JCP
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06:17 EDTWMTWal-Mart to expand in India, add e-commerce, wholesale stores, WSJ reports
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April 7, 2014
07:01 EDTSHLDEquity One names David Lukes as next CEO
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06:33 EDTBBYBest Buy implied volatility of 32 at lower end of index mean range
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06:28 EDTJCPStocks with implied volatility below IV index mean; SWY JCP
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April 5, 2014
19:03 EDTSHLDSears completes Land's End spin-off, receives $500M in gross proceeds
Sears Holdings (SHLD) announced that its pro-rata spin-off of Lands' End (LE) from Sears Holdings closed on April 4. Lands' End has now been separated from Sears Holdings and its common stock is expected to begin regular-way trading on the Nasdaq Capital Market under the symbol LE on April 7. Sears Holdings will continue to be listed on the Nasdaq Global Select Market under the symbol SHLD. Sears Holdings received aggregate gross proceeds from the spin-off of $500M, consisting of a cash dividend paid by Lands' End prior to the spin-off to a subsidiary of Sears Holdings. In the spin-off, Sears Holdings distributed a total of approximately 32M shares of Lands' End common stock to the holders of Sears Holdings common stock as of 5:30 p.m. Eastern time on March 24, the record date. Each share of Sears Holdings common stock outstanding as of the record date entitles the holder thereof to receive 0.300795 shares of Lands' End common stock, except that holders of Sears Holdings' restricted stock that was unvested as of the record date will receive cash awards in lieu of shares. In addition, as part of the spin-off, Lands' End entered into an asset-based senior secured revolving credit facility, which provides for maximum borrowings of approximately $175M with a letter of credit sub-limit, and a senior secured term loan facility of approximately $515M. The proceeds of the term loan facility were used to pay the $500M dividend to the Sears Holdings subsidiary and to pay fees and expenses associated with the foregoing facilities of approximately $10M, with the remaining proceeds to be used by Lands' End for general corporate purposes.
April 4, 2014
11:31 EDTJCPStocks with call strike movement; JCP TWTR
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10:04 EDTSHLDSears risk/reward negative, says ISI Group
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08:59 EDTBBYBest Buy has upside drivers ahead, says BofA/Merrill
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08:02 EDTWMTSam's Club extends contract for branded credit card program with GE Capital
Samís Club, a division of Wal-Mart Stores (WMT), has finalized a multi-year agreement with GE Capital Retail Bank (GE) to extend their existing relationship to provide Samís Club-branded credit cards to club members in the U.S. and Puerto Rico. As part of the extension, GE Capitalís Retail Finance business will continue to manage and service the credit card programs for Samís Club Savings, Business and Plus members. Under the agreement, the Samís Club co-branded credit card programs will be converted to MasterCard (MA) later this year. Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.
06:07 EDTJCPStocks with implied volatility below IV index mean; JCP PLUG
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