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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.
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August 14, 2015
08:42 EDTJCPJ.C. Penney sees improvement in 2H SSS results vs. 1H
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08:13 EDTJCPJ.C. Penney 'confident' in ability to achieve long-term financial targets
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08:12 EDTJCPJ.C. Penney sees FY15 free cash flow breakeven
Sees FY gross margin up 100-150bps. Sees FY15 interest expense approx. $415M, CapEx $250M-$300M.
07:52 EDTJCPJ.C. Penney backs FY15 SSS view of up 4%-5%
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07:49 EDTJCPJ.C. Penney reports Q2 EPS (45c), consensus (48c)
Reports Q2 revenue $2.88B, consensus $2.86B. Reports Q2 SSS up 4.1%.
05:58 EDTJCPStocks with implied volatility above IV index mean; JCP HPQ
Stocks with implied volatility above IV index mean; J.C. Penney (JCP) 68, Hewlett-Packard (HPQ) 38 according to iVolatility.
August 13, 2015
18:48 EDTJWNOn The Fly: After Hours Movers
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16:30 EDTJWNNordstrom raises FY15 SSS view to up 3.5%-4.5% from 2%-4%
16:10 EDTJWNNordstrom up 3.9% after reporting Q2 results, raising FY15 guidance
16:09 EDTJWNNordstrom narrows FY15 EPS ex-items view to $3.70-$3.80 from $3.65-$3.80
Consensus $3.74. Raises FY15 revenue guidance to up 8.5%-9.5% from up 7%-9%.
16:07 EDTJWNNordstrom reports Q2 EPS $1.09, consensus 90c
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14:56 EDTJCPNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include J.C. Penney (JCP), consensus (48c).
14:56 EDTJWNNotable companies reporting after market close
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14:17 EDTJCPJ.C. Penney technical comments ahead of earnings news
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14:14 EDTJCPJ.C. Penney August weekly 8.5 straddle priced for 10.1% movement into Q2
14:11 EDTJWNNordstrom August 75 straddle priced for 4% movement into Q2
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14:08 EDTJWNNordstrom technical commentary ahead of results
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12:38 EDTJCPEarnings Watch: Analyst says J.C. Penney's FY15 SSS view 'achievable'
J.C. Penney (JCP) is scheduled to report second quarter earnings before the market opens on Friday, August 14 with a conference call scheduled for 8:30 am ET. J.C. Penney operates about 1,100 retail stores and EXPECTATIONS: Analysts are looking for a loss per share of (48c) on revenue of $2.86B, according to First Call. The consensus range for EPS is (56c)-(38c) on revenue of $2.8B-$2.89B. LAST QUARTER: J.C. Penney reported first adjusted earnings per share of (57c) against estimates for (77c), on revenue of $2.86B against estimates for $2.87B. Comparable store sales were up 3.4%. The retailer narrowed its fiscal year 2015 SSS view to up 4%-5% from up 3%-5% and forecast FY15 gross margins to improve 100-150 basis points vs. its previous view of a 50-100 basis point improvement. On its Q1 earnings conference call, the company said that it expected to be free cash flow breakeven in FY15, and predicted FY15 capital expenditures of $250M-$300M and EBITDA of approximately $600M. NEWS: At the Piper Jaffray Consumer Conference on June 10, J.C. Penney said it is on track to meet its $1.2B EBITDA target by 2017 and said that it believes the company can continue to grow gross margin in a "healthy, sustainable way." Marvin Ellison, the company's Chief Executive Officer, said the company's private brands are "perceived as equal" to national brands, and noted that the company's previous strategy "obviously didn't go well," but that customers "never gave up on us." Ellison said that the resilience required to stabilize the business has been "significant." STREET RESEARCH: On the day after its last earnings report, Piper Jaffray and UBS raised their price targets on J.C. Penney, and Baird said the Q1 results were "encouraging." On July 22, Buckingham upgraded J.C. Penney to Buy from Neutral and raised its price target to $12 from $9. The firm believes comps in the second half of 2015 could accelerate and has increased confidence of the company's ability to hit its 2017 EBITDA target of $1.2B. The firm also believes FY15 SSS guidance of 4%-5% is "achievable." During the quarter, shares were also upgraded to Hold from Sell at Evercore. PRICE ACTION: Over the last three months, J.C. Penney shares are down 7%. In early afternoon trading ahead of Thursday's Q2 report, J.C. Penney is down over 2% to $8.10
11:45 EDTJWNOptions with increasing volume
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06:00 EDTJCPStocks with implied volatility above IV index mean; WMB JCP
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