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Stock Market & Financial Investment News

News Breaks
February 27, 2013
18:48 EDTJCP, JWN, BWC, CWH, GRPN, PANL, VCRA, BSFT, ANIKOn The Fly: After Hours Movers
UP AFTER EARNINGS: Babcock & Wilcox (BWC), up 8.7%... Anika Therapeutics (ANIK), up 3.2%... Universal Display (PANL), up 2.8%... ALSO HIGHER: Nordstrom (JWN), up 1.3% after announcing an $800M share repurchase program and increasing its dividend 11% to 30c per share... DOWN AFTER EARNINGS: Broadsoft (BSFT), down 24.5% after its Q1, FY13 guidance came in below current estimates... Groupon (GRPN), down 26% after its Q4 earnings, Q1 revenue guidance missed estimates... J.C. Penney (JCP), down 14.5% after a wide Q4 EPS miss and reporting Q4 SSS were down 31.7%... Vocera (VCRA), down 10.9%... ALSO LOWER: CommonWealth REIT (CWH), down 5.8% after its 30M share secondary offering was priced at $19 per share.
News For BWC;ANIK;PANL;JWN;BSFT;GRPN;JCP;VCRA;CWH From The Last 14 Days
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February 11, 2016
07:50 EDTGRPNGroupon volatility elevated into Q4 and outlook
Groupon February weekly call option implied volatility is at 297, February is at 155, March is at 102; compared to its 52-week range of 33 to 108, suggesting large near term price movement into the expected release of Q4 results today after the market close.
February 9, 2016
17:44 EDTJCPJ.C. Penney sued by Burberry over alleged patent infringement, Reuters says
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February 8, 2016
13:03 EDTJCPKohl's replaces J.C. Penney as Academy Awards retail sponsor, Fortune says
Kohl's (KSS) will become the sole retail sponsor of the upcoming Academy Awards, replacing J.C. Penney (JCP), which ended its Oscar partnership after 14 years last year, Fortune reports. Kohl's is attempting to increase the visibility and fashion credibility of its private apparel brands and is aiming to showcase its big names, including Sonoma, which is expected to relaunch after the Oscars, the report says. Reference Link
05:32 EDTBSFTBroadSoft acquires Transera, sees deal 2c-3c dilutive to FY16 EPS
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February 5, 2016
08:02 EDTJCPJ.C. Penney pursues sale of home office campus
J.C. Penney announced that it is pursuing the potential sale and partial leaseback of its Home Office building in Plano, Texas as part of an ongoing effort to reduce outstanding debt and effectively manage expenses. A combination of favorable market conditions and a surplus of available square footage within the building make this an attractive real estate opportunity for the company. It is expected that the cost of leasing space within the building would be offset by a reduction in maintenance costs, property taxes and interest expense as a result of paying down debt with proceeds from the transaction. CBRE Capital Markets has been selected to market the 1.8 million-square-foot, Class A office campus located in Legacy Business Park in Plano, Texas. The new owner will have the opportunity to market over 650,000 square feet of contiguous space within the coveted Legacy West submarket. These actions follow a decision in 2014 to contribute a significant portion of fringe land around the Home Office to a joint venture with a team of developers.
February 4, 2016
19:30 EDTGRPNOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ubiquiti Networks (UBNT), up 18.3%... Symantec (SYMC), up 9.3%... Hartford Financial (HIG), up 7.4%... Post Holdings (POST), up 6.3%... Lumentum (LITE), up 4.7%... TTM Technologies (TTMI), up 1.1%. ALSO HIGHER: Multi-Fineline (MFLX), up 40% after agreeing to be acquired for $23.95 per share. DOWN AFTER EARNINGS: Tableau Software (DATA), down 35.2%... LinkedIn (LNKD), down 29%... Giga-tronics (GIGA), down 28.6%... Hanesbrands (HBI), down 11.4%... YRC Worldwide (YRCW), down 18.8%... Outerwall (OUTR), down 14.2%... Deckers Outdoor (DECK), down 9.9%... Qorvo (QRVO), down 1.3%... athenahealth (ATHN), down 3.7%. ALSO LOWER: Hess (HES), down 6.7% after filing to sell 25M common shares and 10M depositary shares... Splunk (SPLK) is down 10.4%, Qlik Technologies (QLIK) is down 11.4%, Workday (WDAY) is down 6.2%, and Palo Alto Networks (PANW) is down 3% after Tableau Software reported quarterly results... Groupon (GRPN) is down 1.9%, Netflix (NFLX) is down 1.7%, Twitter (TWTR) is down 1.7%, and Facebook (FB) is down 1% are down after LinkedIn reported quarterly results.
10:28 EDTJCPKohl'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.
February 2, 2016
10:40 EDTGRPNStifel warns Twitter may go way of tech busts, cuts to Sell
Twitter (TWTR) is giving up nearly all of yesterday's gains after Fortune and The Wall Street Journal poured cold water on a report that private equity firm Silver Lake might be considering making a strategic investment in the company. Additionally weighing on the stock are a Business Insider report claiming that the number of tweets has declined by more than 50% in the last 18 months and research firm Stifel downgrading the stock to Sell. WHAT'S NEW: Yesterday morning, tech website The Information reported that venture capitalist Marc Andreessen and private equity firm Silver Lake have considered making a deal involving Twitter. However, Silver Lake isn't looking to make a deal with Twitter, The Wall Street Journal reported, citing an unnamed source. The Journal's article echoes a report yesterday afternoon by Fortune, which also quoted an unnamed source as saying that Silver Lake isn't interested in buying Twitter. Also, according to Business Insider, the number of daily tweets on Twitter has plummeted by more than 50% since August 2014. The report based its estimate on a sampling of data from the website's application programming interface. Last month, there were 303M tweets per day on average, down from the peak of an average of 661M per day in August 2014, when the World Cup was occurring, the website stated. Moreover, according to the data, Twitter has about 130M active users, versus the company's estimate of up to 320M monthly active users. STIFEL SAY SELL: Stifel analyst Scott Devitt downgraded Twitter to Sell form Hold, saying that it has "never fully developed into a sustainable public company." Yahoo (YHOO) says that it has 1B monthly active users, but the market valuation of Yahoo's core business is "much lower" than that of Twitter, which has a significantly smaller user base, Devitt stated. Additionally, Internet companies Groupon (GRPN) and Zynga (ZNGA) became well-known and obtained tens of millions of users, only to see their stocks plummet, the analyst stated. Meanwhile, Twitter's product has not changed significantly since the company hired a new CEO three months ago and it will have difficulty meeting financial expectations over the short-term and longer term, given the size of its user base, said Devitt, who has a $14 price target for the shares. PRICE ACTION: In morning trading, Twitter fell 6.3% to $16.78. The stock had gained 6.55% yesterday on the heels of Jessica Lessin's report in The Information.
09:34 EDTJWNNordstrom initiated with a Peer Perform at Wolfe Research
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06:55 EDTJCPPiper reiterates J.C. Penney as top pick for 2016
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January 29, 2016
10:05 EDTJCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Atlassian (TEAM) upgraded on positive outlook at JMP Securities... BRF S.A. (BRFS) upgraded to Buy from Hold at Deutsche Bank... Bank of America (BAC) upgraded to Outperform from Sell at CLSA... CEMEX (CX) upgraded to Buy from Hold at Jefferies... Chemical Financial (CHFC) upgraded to Outperform from Market Perform at Fig Partners... Computer Programs (CPSI) upgraded to Buy from Hold at Topeka... DST Systems (DST) upgraded to Outperform at Baird... Diamond Offshore (DO) upgraded to Neutral from Sell at Citi... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... First Merchants (FRME) upgraded to Overweight from Equal Weight at Stephens... Flex (FLEX) upgraded on solid results at Stifel... Intercept (ICPT) upgraded to Equal Weight from Underweight at Morgan Stanley... J.C. Penney (JCP) upgraded to Neutral from Underperform at Credit Suisse... JetBlue (JBLU) upgraded to Buy from Hold at Evercore ISI... Juniper (JNPR) upgraded to Outperform from Market Perform at Bernstein... Live Oak Bancshares (LOB) upgraded to Buy from Neutral at SunTrust... Microsemi (MSCC) upgraded to Outperform from Market Perform at Wells Fargo... NetSuite (N) upgraded to Buy from Hold at Canaccord... NextEra Energy (NEE) upgraded to Outperform at Baird... Oshkosh (OSK) upgraded to Buy from Neutral at SunTrust... PC Connection (PCCC) upgraded to Market Perform from Underperform at Raymond James... Pinnacle Financial (PNFP) upgraded to Overweight from Equal Weight at Stephens... Potash (POT) upgraded to Outperform from Sector Perform at Scotiabank... Rayonier (RYN) upgraded on valuation at BMO Capital... SanDisk (SNDK) upgraded to Buy from Hold at Needham... Select Comfort (SCSS) upgraded to Outperform from Neutral at Wedbush... Sotherly Hotels (SOHO) upgraded to Buy from Neutral at Janney Capital... Textura (TXTR) upgraded to Outperform from Market Perform at Northland... Valley National (VLY) upgraded to Buy from Hold at Sandler O'Neill.
09:21 EDTJCPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Gigamon (GIMO), up 17.7%... Fortinet (FTNT), up 10%... Flextronics (FLEX), up 10%... Skyworks (SWKS), up 5.7%... Seagate Technology (STX), up 4.9%.. Microsoft (MSFT), up 4.6%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 8.1% after CEO says Zika vaccine could enter human testing this year... J.C. Penney (JCP), up 2.1% after being upgraded to Neutral from Underperform at Credit Suisse... BRF S.A. (BRFS), up 3.1% after being upgraded to Buy from Hold at Deutsche Bank... Axiall (AXLL), up 83.4% after rejecting $20 per share acquisition proposal from Westlake Chemical (WLK)... Energous (WATT), up 12% after Bloomberg reported that Apple (AAPL) is working with partners in the U.S. and Asia to develop new wireless charging technology. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 10.1%... Electronic Arts (EA), down 6.2%... AbbVie (ABBV), down 4%... American Airlines (AAL), down 1.3%. ALSO LOWER: Gilead Sciences (GILD), down 5.5% after CEO John Martin to assume role of executive chairman and COO John Milligan will be promoted to CEO.
06:40 EDTJCPJ.C. Penney upgraded to Neutral from Underperform at Credit Suisse
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