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Stock Market & Financial Investment News

News Breaks
February 27, 2013
05:55 EDTBKS, BKS, WEN, WEN, SHLD, SHLD, RDC, RDC, ORN, ORN, KSS, KSS, IRM, IRM, DPZ, DPZ, CVC, CVC, WPX, WPXCompanies reporting Before the Market Open on Thursday, February 28
Notable companies reporting before the opening bell on Thursday include Barnes & Noble (BKS), Cablevision Systems (CVC), Domino's Pizza (DPZ), Iron Mountain (IRM), Kohl's (KSS), Orion Marine Group (ORN), Rowan Companies (RDC), Sears Holdings (SHLD), Wendy's (WEN), and WPX Energy (WPX).
News For BKS;CVC;DPZ;IRM;KSS;ORN;RDC;SHLD;WEN;WPX From The Last 14 Days
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February 4, 2016
10:28 EDTKSSKohl's slumps after cutting forecast on lower than planned sales, margins
Shares of Kohl's (KSS) are plunging after the department store retailer cut its earnings per share guidance for fiscal year 2015 based on lower than planned sales for the quarter and "significantly" lower gross margins. WHAT'S NEW: Kohl's said this morning that comparable store sales for the fourth quarter increased 0.4%, with total quarterly sales rising 0.8%. The company said that despite a "very strong" holiday selling season, sales were "very volatile and less than planned" in the quarter. Additionally, Kohl's said the holiday season results were offset by a "very slow start" to Q4 in November as well as a weaker than expected January due to soft demand for cold-weather goods that led to lower store traffic. Looking ahead, Kohl's cut its FY15 EPS view to $3.95-$4.00, excluding losses from debt repayment, against analysts' consensus estimate of $4.30. Kohl's previously expected FY15 EPS to be at the low end of its $4.40-$4.60 range. Kohl's said it lowered its guidance as a result of lower than expected quarterly sales and "significantly lower than planned" gross margin. Kohl's is expected to report Q4 results on February 25. WHAT'S NOTABLE: Kohl's is considering whether to hire an investment bank to advise the company on alternatives including going private or a break up, The Wall Street Journal reported on January 11, citing a source. Kohl's executives are said to be open to a strategic review, the source said. ALSO NOTABLE: Retailer Ralph Lauren (RL) this morning said that while international net revenue grew 6% in constant currency in its third quarter, North America revenue declined 4%, due in part to warmer temperatures for the fall and holiday season. ANALYST OPINIONS: Buckingham yesterday upgraded Kohl's to Buy from Neutral, as the firm expected Kohl's SSS to rise by a low single digit percentage level in Q4. Analysts at Stifel said on January 11 that Kohl's could be worth as much as $95 in a takeover. PRICE ACTION: Kohl's is down over 14% to $43.72 in morning trading. OTHERS TO WATCH: Ralph Lauren is down over 17.5% to trade near $95 per share. Department store peers Macy's (M) and J.C. Penney (JCP) are down 3% and 2%, respectively, this morning.
08:32 EDTKSSKohl's cuts FY15 EPS view to $3.95-$4.00 ex-items, consensus $4.30
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08:31 EDTKSSKohl's reports Q4 SSS up 0.4%
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February 3, 2016
16:40 EDTBKSOn The Fly: Top stock stories for Wednesday
Stocks began the session in positive territory but were unable to hold their early gains. Following larger than expected builds in energy inventories, oil moved lower, taking equities with it. By the noon hour oil prices recovered and moved higher once again, helping to lift equities. While oil prices continued their advance and moved up more than 7%, stocks lagged, especially the Nasdaq, which was down as much as 1.5% this afternoon. That changed in the last hours of trading, which saw the Dow spurt higher and the Nasdaq recover most of its losses heading into another heavy dose of corporate earnings reports after the close. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 4.75% to $27.68 after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's chairman, said the board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders... Chipotle Mexican Grill (CMG) fell 2.89% to $461.92 after reporting lower than expected revenue and a 14% plunge in same-store sales for the quarter. Adding to the negative headlines, the restaurant operator also disclosed a subpoena broadening the scope of a criminal investigation that was previously limited to a single Chipotle location in California. Also punished by food safety worries were shares of Buffalo Wild Wings (BWLD), which slid 4.24% to $143.64 after one of its restaurants was named a suspected source of new norovirus-like cases in suburban Kansas City, though the company disputed a link between its location and the illnesses. The stock continued to move lower in after-hours trading following the company's earnings report and lower than expected guidance... Merck (MRK) was one of the worst performers on the Dow, dipping to as low as $48.58 before ending the day down 0.7% at $50.04 after its earnings narrowly topped estimates but guidance for the new year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 5.95% following its report, while General Motors (GM) slid 2.43%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied 8% to $49.56 after announcing a restructuring plan that will see its workforce cut by roughly 10%. Also higher was Angie's List (ANGI), which jumped 13.53% to $9.48 after the New York Post reported that InterActiveCorp (IAC) is preparing a "big run" to acquire the company. In addition, Syngenta (SYT) rose 2% to $80.21 after receiving a $43B-plus takeover offer from ChemChina. Among the noteworthy losers was Lowe's (LOW), which fell 6.2% to $67.42 after agreeing to acquire Canada's RONA in a deal valued at $2.3B. Also lower was Barnes & Noble (BKS), which declined 9.6% to $7.32 after mall operator General Growth (GGP) said during a conference call that Amazon (AMZN) plans to open 300-400 physical bookstores. After the closing bell, General Growth CEO Sandeep Mathrani indicated that his previous statement "was not intended to represent Amazon's plans." Meanwhile, Marathon Petroleum (MPC), Mondelez (MDLZ) and Match Group (MTCH) lost 7.6%, 6.5% and 12.6%, respectively, following their quarterly reports. INDEXES: The Dow rose 183.12, or 1.13%, to 16,336.66, the Nasdaq fell 12.71, or 0.28%, to 4,504.24, and the S&P 500 advanced 9.50, or 0.5%, to 1,912.53.
February 2, 2016
19:22 EDTBKSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Boot Barn (BOOT), up 16.5%... Wabash National (WNC), up 9.7%... Oclaro (OCLR), up 6.8%... Myriad Genetics (MYGN), up 8%... Ultimate Software Group (ULTI), up 6.2%... Natural Health (NHTC), up 6.2%... Edwards Lifesciences (EW), up 6.2%... Viavi Solutions (VIAV), up 2.4%... Gilead Sciences (GILD), up just under 1%. DOWN AFTER EARNINGS: Match Group (MTCH), down 7.3%... Yahoo (YHOO), down 1.2%... Chipotle (CMG), down 7.1%. ALSO LOWER: Barnes & Noble (BKS), down 2.4% after General Growth (GGP) CEO Sandeep Mathrani announced that Amazon (AMZN) is going to open 300-400 brick-and-mortar bookstores.
16:14 EDTBKSAmazon.com said to plan hundreds of physical bookstores, DJ reports
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11:39 EDTWENOptions with increasing call volume; FDC IMOS WEN IDTI HS GPR KORS HRS PNRA R CX
10:34 EDTKSSKohl's upgraded on valuation, strategy success, Q4 outlook at Buckingham
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10:00 EDTKSSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: DuPont Fabros (DFT) upgraded to Buy from Hold at Evercore ISI... GOL Linhas (GOL) upgraded to Neutral from Sell at Goldman... Integrated Device (IDTI) upgraded to Outperform from Neutral at Wedbush... Julius Baer (JBAXY) upgraded to Hold from Sell at Deutsche Bank... Kohl's (KSS) upgraded to Buy from Neutral at Buckingham... Mattel (MAT) upgraded on positive catalysts at Stifel... Mitsubishi sees limited downside for Tableau (DATA), ups to Neutral ... Morgan Stanley (MS) upgraded to Outperform from Neutral at Macquarie... Netflix (NFLX) upgraded to Overweight from Neutral at Piper Jaffray... Realty Income (O) upgraded to Equal Weight from Underweight at Morgan Stanley... TJX (TJX) upgraded to Outperform from Market Perform at BMO Capital.
08:17 EDTKSSKohl's upgraded to Buy from Neutral at Buckingham
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February 1, 2016
14:23 EDTIRMIron Mountain backs FY16 revenue view $3.165B-$3.265B, consensus $3.1B
Guidance provided in slides presentation.
January 28, 2016
11:18 EDTKSSOptions with increasing put volume
Options with increasing put volume: DRII SNE LH CAVM KSS UCO ILMN JBLU AVT SWK JNPR RRC CL HES
10:04 EDTRDCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amdocs (DOX) upgraded to Buy from Neutral at BofA/Merrill... Cheesecake Factory (CAKE) upgraded to Overweight from Equal Weight at Stephens... Chemical Financial (CHFC) upgraded to Buy from Hold at Sandler O'Neill... Cimarex Energy (XEC) upgraded to Buy from Hold at Wunderlich... Cirrus Logic (CRUS) upgraded to Outperform from Perform at Oppenheimer... Citrix (CTXS) upgraded on Q4 results, valuation at JMP Securities... Comerica (CMA) upgraded to Market Perform from Underperform at BMO Capital... Community Health (CYH) upgraded to Market Perform from Underperform at Raymond James... Denny's (DENN) upgraded to Overweight from Equal Weight at Stephens... Dolby (DLB) upgraded to Buy from Neutral at Dougherty... EMC (EMC) upgraded to Buy from Neutral at Mizuho... Halliburton (HAL) upgraded to Buy from Accumulate at KLR Group... Hanmi Financial (HAFC) upgraded to Strong Buy from Outperform at Raymond James... Hawaiian Holdings (HA) upgraded to Neutral at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Needham... Kinder Morgan (KMI) upgraded at Stifel... MGM China (MCHVF) upgraded to Overweight from Neutral at JPMorgan... Nimble Storage (NMBL) upgraded to Buy from Hold at Maxim... Patterson Companies (PDCO) upgraded to Buy from Neutral at UBS... PayPal (PYPL) upgraded to Outperform on core market share gains at Wedbush... Prosperity Bancshares (PB) upgraded to Buy from Neutral at DA Davidson... RPC, Inc. (RES) upgraded to Overweight from Equal Weight at Morgan Stanley... Rowan Companies (RDC) upgraded to Equal Weight from Underweight at Morgan Stanley... SanDisk (SNDK) upgraded to Buy from Neutral at Mizuho... Stillwater Mining (SWC) upgraded to Outperform from Market Perform at FBR Capital... Vantiv (VNTV) upgraded to Positive from Neutral at Susquehanna... Wilshire Bancorp (WIBC) upgraded to Outperform from Market Perform at Raymond James.
06:40 EDTRDCRowan Companies upgraded to Equal Weight from Underweight at Morgan Stanley
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January 27, 2016
19:03 EDTRDCRowan Companies eliminates quarterly cash dividend, effective immediately
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January 26, 2016
11:04 EDTCVCNew York Public Service Commission holds hearings
The New York Public Service Commission sponsors a series of informative sessions and public statement hearings regarding the Joint Petition Altice N.V. and Cablevision filed to transfer certain telephone and cable systems to Altice. There will be two sessions held in Peekskill, New York on January 26 at 2 pm and 6 pm.
January 25, 2016
10:16 EDTIRMHigh option volume stocks
High option volume stocks: IRM SWFT STLD AAN PKG NVRO PZZA SYY EDAP SSYS
10:00 EDTWPXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
08:47 EDTWPXWPX Energy downgraded to Sector Perform from Outperform at Iberia
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05:25 EDTORNOrion Marine sees FY15 in line with previously stated guidance
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