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Stock Market & Financial Investment News

News Breaks
January 15, 2013
09:38 EDTJACK, SIG, TXRH, SSI, FNP, BKWBarclays hosts company meetings at ICR XChange
Company meetings, in conjunction with the ICR XChange Conference, are being held in Miami on January 15-17.
News For BKW;FNP;SIG;SSI;TXRH;JACK From The Last 14 Days
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August 28, 2015
08:25 EDTSIGSignet Jewelers valuation compelling, says Goldman
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August 27, 2015
16:28 EDTSIGOn The Fly: Top stock stories for Thursday
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12:41 EDTSIGOn The Fly: Top stock stories at midday
Stocks began the session sharply higher, extending the rally that started yesterday. A number of factors may be contributors to today's strength, including China's government intervening in its market last night and pushing its key stock index up 5%, dovish comments made by N.Y. Fed President Bill Dudley yesterday regarding the potential for a September interest rate hike and an upward revision in the estimate of second quarter GDP growth. ECONOMIC EVENTS: In the U.S., the updated estimate of GDP growth showed the economy grew 3.7% in the second quarter, topping expectations for annualized growth to be revised up to 3.2% from the prior estimate of 2.3%. Personal consumption in the quarter rose 3.1%, matching expectations. 271,000 initial jobless claims were filed last week, versus expectations for 274,000 first-time claims. The NAR pending home sales index rose 0.5% in July, missing the expectation for an increase of 1%. In China, the Shanghai composite index rose 5.3%, stemming its recent string of down days, with media reports indicating that the government may have played a role by stepping in to buy stocks. COMPANY NEWS: Shares of St. Jude Medical (STJ) advanced 4.5% after the Financial Times reported, citing sources, that Abbott (ABT) is prepping a takeover offer that would value the medical device maker at $25B. An Abbott spokesperson, however, issued statements to Bloomberg, CNBC and the Wall Street Journal following the report to deny that it is pursuing a bid for St. Jude, which struck a deal in July to acquire fellow medical device manufacturer Thoratec (THOR) for $63.50 per share in cash, or $3.4B, net of cash acquired. Thoratec shares slid 0.5% near noon following the report, as investors may be concerned that the previously announced deal could be jeopardized if Abbott does in fact step in to the situation... Shares of Freeport-McMoRan (FCX) surged 28% this morning after the miner and oil explorer announced plans to cut spending and production, including plans to cut about 10% of employees and contractors at its U.S. mining operations. Freeport has lowered its 2016 capital expenditure budget to $4B, or approximately 29% lower than the $5.6B estimate it issued on July 23, which it said reflects "aggressive" actions in response to current market conditions. MAJOR MOVERS: Among the notable gainers was Movado (MOV), which gained 20% after the company reported better than expected second quarter results and backed its fiscal year earnings view. Also higher following its earnings report was Signet Jewelers (SIG), whose shares rose 13%. Another jeweler reporting earnings this morning, Tiffany (TIF), which slid 3% after the company lowered its fiscal year outlook. Among the other noteworthy losers following their earnings reports were Williams-Sonoma (WSM), which dropped 7%, and Dollar General (DG), which slipped 4%. INDEXES: Near midday, the Dow was up 311.33, or 1.91%, to 16,596.84, the Nasdaq was up 109.30, or 2.33%, to 4,806.83, and the S&P 500 was up 42.77, or 2.2%, to 1,983.28.
09:26 EDTSIGOn The Fly: Pre-market Movers
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08:40 EDTSIGNomura says to buy Signet Jewelers
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07:10 EDTSIGSignet Jewelers says integration of Zale 'continues to go well'
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07:09 EDTSIGSignet Jewelers reports Q2 adjusted EPS $1.28, consensus $1.15
Reports Q2 revenue $1.41B, consensus $1.38B. Reports Q2 SSS up 4.2%.
August 26, 2015
15:00 EDTSIGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar General (DG), consensus 94c... J. M. Smucker (SJM), consensus $1.23... Tiffany (TIF), consensus 91c... Signet Jewelers (SIG), consensus $1.15... Patterson (PDCO), consensus 54c... Michaels (MIK), consensus 16c... Burlington Stores (BURL), consensus 12c.
August 21, 2015
10:02 EDTSSIOn The Fly: Analyst Downgrade Summary
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07:53 EDTSSIStage Stores downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill downgraded Stage Stores two notches to Underperform from Buy and lowered its price target to $12 from $24. Following the disappointing Q2 report and FY15 guidance, the firm said it no longer has confidence in turnaround initiatives and expects continued layoffs through 2016 to pressure next year's growth.
06:56 EDTSSIStage Stores downgraded to Neutral from Buy at B. Riley
B. Riley downgraded Stage Stores to Neutral and lowered its price target to $14 from $20 citing the Q2 miss and lowered guidance.
05:35 EDTSSIStage Stores downgraded to Neutral from Buy at B. Riley
B. Riley analyst Jeff Van Sinderen downgraded Stage Stores to Neutral citing caution over the company's second half of 2015 after its Q2 results missed expectations and guidance was reduced. The analyst cut his price target for shares to $14 from $20.

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