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Stock Market & Financial Investment News

News Breaks
May 30, 2014
10:55 EDTBIG, FDO, DLTRBig Lots advances after results top estimates, guidance raised
Shares of closeout retailer Big Lots (BIG) are sharply higher this morning after the company reported first quarter results that exceeded expectations. WHAT'S NEW: Big Lots reported Q1 earnings per share from continuing operations of 50c and revenue of $1.28B, which topped analystsí consensus estimates of 44c and $1.26B, respectively, and beat the company's EPS guidance of 40c-45c per share. Same store sales for the quarter increased 0.9%. Inventory at the end of the quarter was $835M compared to $885M a year ago. Looking ahead, the company forecast second quarter EPS of 24c-30c and SSS to rise 1%-3%. The consensus forecast of analysts for Q2 EPS prior to the report was 28c. The company also raised fiscal year 2014 EPS guidance to $2.35-$2.50 from $2.25-$2.45, on revenue of flat to slightly up and SSS up 1%-2%. The consensus forecast of analysts for FY EPS prior to the report was $2.38. The company sees FY14 cash flow of approximately $170M from continuing U.S. operations and consolidated cash flow of approximately $145M after the impact of the wind down of our discontinued Canadian operations. WHAT'S NOTABLE: On its earnings conference call, Big Lots admitted that its Q1 results "could have been better," but believes the issue was weather. The company noted that some of the early groundwork is being established int he social advertising space. The company said "nothing has changed" regarding its gross margin rate forecast. PRICE ACTION: Big Lots is trading up $4.62, or 12.3%, to $42.14 in mid-morning trading. OTHERS TO WATCH: Shares of Big Lots peer Dollar Tree (DLTR) are down modestly to $52.88, while another retailer in the space, Family Dollar (FDO), is virtually unchanged at $58.16.
News For BIG;DLTR;FDO From The Last 14 Days
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February 8, 2016
10:00 EDTDLTROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amedisys (AMED) upgraded to Outperform from Perform at Oppenheimer... American Campus (ACC) upgraded to Buy at Canaccord... Beacon Roofing (BECN) upgraded to Strong Buy from Outperform at Raymond James... Big 5 Sporting (BGFV) upgraded on potential Sports Authority closures at Stifel... CenterState Banks (CSFL) upgraded to Outperform from Market Perform at Fig Partners... Cisco (CSCO) upgraded to Neutral from Underperform at Macquarie... Dollar Tree (DLTR) upgraded to Outperform from Market Perform at Telsey Advisory... Dow Chemical (DOW) upgraded to Positive from Neutral at Susquehanna... Essex Property Trust (ESS) upgraded to Buy from Neutral at Mizuho... Globant (GLOB) upgraded to Buy from Neutral at Citi... Kinross Gold (KGC) upgraded on valuation, higher gold price at BMO Capital... L Brands (LB) upgraded to Buy from Hold at Brean Capital... Marvell (MRVL) upgraded to Buy from Sell at B. Riley... Munich Re (MURGY) upgraded to Neutral from Underperform at Credit Suisse... OM Asset Management (OMAM) upgraded to Buy from Neutral at Citi... Orbital ATK (OA) upgraded to Overweight from Sector Weight at KeyBanc... SCANA (SCG) upgraded to Buy from Neutral at Mizuho... Sensient (SXT) upgraded to Buy from Hold at Gabelli... St. Jude Medical (STJ) upgraded to Hold from Sell at Canaccord... Suffolk Bancorp (SCNB) upgraded to Outperform from Market Perform at Fig Partners... Supernus (SUPN) upgraded to Buy from Hold at Jefferies... Ultimate Software (ULTI) upgraded to Outperform from Market Perform at FBR Capital... ZAGG (ZAGG) upgraded to Outperform from Market Perform at Northland... athenahealth (ATHN) upgraded to Buy from Hold at Topeka.
07:59 EDTDLTRDollar Tree upgraded to Outperform from Market Perform at Telsey Advisory

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