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Stock Market & Financial Investment News

News For CAT;IQNT;GRMN;JCP;JNJ;KRC;NKTR;STRA;VRTX;VNO;BMY;PBR;HES From The Last 14 Days
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October 9, 2014
10:00 EDTJCPOn The Fly: Analyst Downgrade Summary
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09:38 EDTPBRActive equity options trading on open
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09:33 EDTVRTXVertex says VX-661 Phase 2 study fully enrolled
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08:13 EDTJCPJ.C. Penney EBITDA guidance appears aggressive, sasy Morgan Stanley
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07:56 EDTJCPJ.C. Penney downgraded at Craig-Hallum
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07:43 EDTJCPJ.C. Penney downgraded to Sell from Hold at Craig-Hallum
07:22 EDTVRTXCystic Fibrosis Foundation to hold a conference
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06:56 EDTJCPJ.C. Penney pullback a buying opportunity, says Piper Jaffray
Piper Jaffray views yesterday's pullback in shares of J.C. Penney as a buying opportunity, saying the company's turnaround "is very much underway." Piper notes that despite saying Q3 comps are tracking low-single-digits versus prior guidance of mid-single-digits, J.C. Penney management reiterated full-year guidance. The firm reiterates an Overweight rating on Penny with a $13 price target following yesterday's analyst day.
October 8, 2014
16:01 EDTPBROptions Update; October 8, 2014
iPath S&P 500 VIX Short-Term Futures down 2.73 to 29.51. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX PBR AA CLF GILD according to Track Data.
14:26 EDTPBRPetrobras volatility elevated on crude trends lower
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13:43 EDTJCPDepartment stores fall after J.C. Penney cuts view due to difficult environment
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12:25 EDTJCPOn The Fly: Midday Wrap
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12:04 EDTJCPJ.C. Penney now sees Q3 SSS in low single digit range
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12:04 EDTJCPJ.C. Penney announces growth initiatves for 2015-2017
At its 2014 analyst meeting in New York City today, J. C. Penney Company presented its plans for restoring sustainable profitable growth at the Company over the next three years."JCPenney is in a far stronger position today than it was when we began our turnaround effort 18 months ago. While we recognize that there's more work to be done in a highly competitive retail environment, I couldn't be more encouraged by the significant progress our teams have made in such a short amount of time," said Myron E. Ullman, III, CEO. "I am confident that the initiatives we are putting in place will fuel new growth and earn greater customer loyalty as we pursue our vision to become the preferred shopping choice for Middle America." The Company is focused on attracting a new and younger customer by investing in popular in-store attractions that can only be found at JCPenney. To that end, the Company announced the expansion of its highly successful partnership with Sephora, as the companies have agreed to open additional Sephora inside JCPenney locations through 2017, entering new and smaller markets as the first major beauty destination in town. The Company also provided financial performance goals that include achieving $1.2 billion in EBITDA in 2017. This reflects expectations for top line improvements associated with incremental growth potential, as well as continued market share gains in its underlying business, which represents a $3.5B sales opportunity. Of that amount, the Company conservatively expects to realize approximately $2B in incremental sales over the next three years, resulting in mid-single digit sales growth during that period.
11:41 EDTJCPJ.C. Penney says store base count 'roughly' where it needs to be
Says evaluating stores to see if EBITDA accretive. Says "disciplined" regarding promotions. Says won't risk margin over promotions. Says Apple (AAPL), Samsung (SSNLF), Amazon (AMZN) taking "chunk" out of consumer spending. Sees returning to 37%-39% gross margins over time.
11:34 EDTCATCaterpillar maintains dividend of 70c per share
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11:10 EDTJCPOptions with increasing implied volatility
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11:10 EDTJCPJ.C. Penney says succession planning remains 'top priority'
Sees SG&A dollars "roughly flat" over next three years. Sees CapEx averaging $250M-$300M per year.
11:06 EDTJCPJ.C. Penney says expects to be free cash flow positive in FY14
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11:05 EDTJCPJ.C. Penney falls 6%, halted for circuit-breaker after providing guidance
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