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Stock Market & Financial Investment News

News Breaks
May 30, 2014
10:55 EDTFDO, DLTR, BIGBig 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 analysts’ 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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December 11, 2014
10:21 EDTDLTRHigh option volume stocks
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December 10, 2014
10:00 EDTDLTROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with an Underperform at Longbow... AutoZone (AZO) initiated with a Buy at Nomura... C.H. Robinson (CHRW) initiated with a Neutral at Nomura... CSX (CSX) initiated with a Buy at Nomura... CVS Health (CVS) initiated with a Neutral at Citigroup... Canadian National (CNI) initiated with a Neutral at Nomura... Carrizo Oil & Gas (CRZO) initiated with a Buy at Canaccord... CenterPoint Energy (CNP) initiated with a Neutral at Nomura... Con-way (CNW) initiated with a Neutral at Nomura... Cornerstone OnDemand (CSOD) initiated with a Buy at BofA/Merrill... Depomed (DEPO) initiated with an Outperform at RBC Capital... Dollar General (DG) initiated with a Buy at Citigroup... Dollar Tree (DLTR) initiated with a Neutral at Citigroup... Dynagas LNG (DLNG) initiated with a Buy at ABN Amro... EMC (EMC) initiated with a Neutral at JPMorgan... Energy Focus (EFOI) initiated with a Buy at Roth Capital... Expeditors (EXPD) initiated with a Neutral at Nomura... GasLog (GLOG) initiated with a Buy at ABN Amro... Genesee & Wyoming (GWR) initiated with a Neutral at Nomura... Golar LNG (GLNG) initiated with a Sell at ABN Amro... HII Technologies (HIIT) initiated with a Buy at Roth Capital... Hudbay Minerals (HBM) initiated with an Overweight at Barclays... J.B. Hunt (JBHT) initiated with a Buy at Nomura... Kansas City Southern (KSU) initiated with a Buy at Nomura... Kroger (KR) initiated with a Buy at Citigroup... Lear (LEA) initiated with a Buy at Northcoast... Lundin Mining (LUNMF) initiated with an Overweight at Barclays... NetApp (NTAP) initiated with a Neutral at JPMorgan... Norfolk Southern (NSC) initiated with a Neutral at Nomura... PROS (PRO) initiated with an Outperform at Pacific Crest... Qlik Technologies (QLIK)initiated with a Buy at BofA/Merrill... Rentokil (RTOKY) initiated with a Neutral at UBS... Revolution Lighting (RVLT) initiated with a Buy at Roth Capital... ServiceNow (NOW) initiated with a Buy at BofA/Merrill... Stratasys (SSYS) initiated with a Neutral at Longbow... Suburban Propane (SPH) initiated with a Hold at Stifel... Tableau (DATA) initiated with a Buy at BofA/Merrill... Teekay LNG (TGP) initiated with a Buy at ABN Amro... Tessera (TSRA) initiated with a Buy at Sidoti... Union Pacific (UNP) initiated with a Buy at Nomura... Viper Energy (VNOM) initiated with a Buy at Stifel... Visteon (VC) initiated with a Buy at Northcoast... Walgreen (WAG) initiated with a Buy at Citigroup... Werner (WERN) initiated with a Neutral at Nomura.
06:16 EDTDLTRDollar Tree initiated with a Neutral at Citigroup
Target $75.
06:16 EDTFDODollar General initiated with a Buy at Citigroup
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December 8, 2014
08:26 EDTBIGBig Lots sell-off unwarranted at FBR Capital
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December 5, 2014
16:36 EDTBIGOn The Fly: Closing Wrap
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12:50 EDTBIGOn The Fly: Midday Wrap
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12:03 EDTFDO, DLTR, BIGFive Below plummets after Q4, FY14 outlooks trail analysts' estimates
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11:26 EDTBIGBig Lots tumbles after earnings, levels to watch
The shares are close to the session lows, down 13.6% to $41.37. The low of the day at $40.74 is current support. The share price loss today is beginning to close the bullish gap up in shares from May. This is bearish for future price with next supports below today's low at $40 and then the bottom of the gap at $37.68. Resistance is at $42.50.
10:46 EDTBIGBig Lots tumbles after Q3 results misses estimates
Shares of closeout retailer Big Lots (BIG) are lower this morning after the company's third quarter earnings failed to meet analyst estimates. WHAT'S NEW: Big Lots reported Q3 earnings per share of (6c) and revenue of $1.11B, missing analysts' consensus estimates of (5c) and $1.12B, respectively. Same store sales increased 1.4% for the quarter, the company said. Big Lots said Jennifer, its core customer, is responding positively to the improved merchandising strategies such as the recent expansion of its Food category and the Furniture lease-to-purchase program. Inventory ended the quarter at $1.08B vs. $1.24B for the previous year. Looking ahead, Big Lots raised the high end of its fourth quarter EPS view to $1.70-$1.80 from $1.70-$1.76 against analysts' consensus estimates of $1.78. and backed its Q4 SSS view of a low single digit increase. For fiscal year 2014, Big Lots backed its FY14 EPS view of $2.40-$2.50 against analysts' estimates of $2.49 and SSS guidance of up 1%-2%. WHAT'S NOTABLE: During the conference call to discuss Q3 earnings, Big Lots said it expects to see double digit drops in Electronics in the fourth quarter. Big Lots said it was encouraged by the start of November where comps were up by 2%, but also commented on less than favorable results from Thanksgiving and Black Friday, with one executive noting the lack of traffic at store checkouts during Black Friday. The retailer also said it sees positive opportunity for January in food, furniture and home. PRICE ACTION: During morning trading, Big Lots fell $6.56, or 13.68, to $41.39. OTHERS TO WATCH: Five Below (FIVE), which reported in-line third quarter EPS and a lower-than-expected fourth quarter and fiscal year 2014 outlook, is down 12.3% to $37.56.
10:35 EDTBIGHigh option volume stocks
High option volume stocks: NOAH FRAN BIG GREK KEY VIAB STRZ ALKS QTWW ONNN
10:03 EDTDLTR, FDOFamily Dollar sees Dollar General needing to divest over 3.4K stores, CNBC says
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09:19 EDTDLTR, FDODollar General says remains committed to purchase of Family Dollar
Dollar General Corporation (DG) issued the following statement in response to comments made by Dollar Tree (DLTR) regarding its view of potential store divestitures that may be required by the FTC in either a Dollar Tree/Family Dollar Stores (FDO) or a Dollar General/Family Dollar combination. Dollar General’s documents and data tell a very different story from that contained in the press release issued today by Dollar Tree. As Dollar General previously has stated, Walmart (WMT), not Family Dollar, is the primary driver regarding Dollar General’s strategic pricing decisions, and more than 90% of Dollar General’s SKUs are nationally priced. Dollar General is confident that its approach to strategic and pricing decisions is both correct and superior to that of Family Dollar and Dollar General has no intention of adopting a flawed strategy -- either now or after an acquisition of Family Dollar -- that it believes would impair its ability to compete with Walmart and lead to inferior financial performance. Dollar General is actively engaged in discussions with the FTC regarding the extent of potential divestitures that would be required in connection with an acquisition of Family Dollar and has been making good progress. Over the past few weeks, Dollar General has provided the FTC with tens of thousands of documents supporting the above facts and its broad view of competition. There is no reason to believe that the FTC would take into account only Family Dollar’s documents and data or afford them greater significance than Dollar General's own evidence. As stated in Dollar General's press release of December 4, Dollar General will continue to work with the FTC and expects to provide an update in sufficient time to allow Family Dollar shareholders to review such information prior to the Family Dollar shareholders’ meeting now scheduled for December 23.
09:17 EDTBIGOn The Fly: Pre-market Movers
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08:22 EDTBIGBig Lots expects to see double digit drops in electronics in Q4
08:13 EDTBIGBig Lots plans to open 24 new stores and close 57 US stores in 2015
Encouraged by start in November where comps up by 2%. The company, however, said Thanksgiving and Black Friday results down from prior year. Believes January has opportunity in food, furniture and home. Comments taken from Q3 earnings conference call.
06:09 EDTFDO, DLTRDollar Tree provides update on FTC review of pending acquisition of Family Dolla
Dollar Tree (DLTR) announced that it was providing an update regarding the status of the FTC's review of its pending acquisition of Family Dollar (FDO). Dollar Tree and Family Dollar have been actively engaging with the staff of the FTC as they review the pending merger. The company said, "The staff of the FTC is very focused on the discount retail sector (including how Family Dollar’s current pricing rules would impact store prices in a merger transaction) and has indicated that some divestitures will be required for the Pending Merger, which we believe will be no more than our original commitment in the July 27, 2014, Merger Agreement. Dollar Tree will work diligently with the FTC staff over the next few weeks concerning divestitures. Given the relatively small number of divestitures our transaction implicates, Dollar Tree does not expect any such divestiture to have a material impact on its plans for the combined organization. Furthermore, we believe that we will be in a position to complete the financing for the Pending Merger in January 2015 and to complete the Pending Merger as early as February 2015... In connection with its unsolicited tender offer for Family Dollar, Dollar General (DG) continues to refuse to agree to a “hell-or-high-water” commitment. Based on the foregoing concerns regarding the Pending Merger, Dollar Tree believes that the FTC may require divestitures far in excess of the 1,500 stores that Dollar General has offered to divest in its tender offer for Family Dollar... The special meeting of Family Dollar shareholders to vote on the Pending Merger is currently scheduled for December 23, 2014. To facilitate the FTC’s continued review, and in light of the practicalities associated with the transaction, Dollar Tree and Family Dollar have agreed not to close the Pending Merger until January 30, 2015, unless the FTC completes its review of the Pending Merger and terminates the waiting period at an earlier date. Dollar Tree will continue to provide additional information as the special meeting date approaches."
06:05 EDTBIGBig Lots backs FY14 EPS view of $2.40-$2.50, consensus $2.49
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06:04 EDTBIGBig Lots raises high-end of Q4 EPS view to $1.70-$1.80 from $1.70-$1.76
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06:01 EDTBIGBig Lots reports Q3 EPS (6c), consensus (5c)
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