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Stock Market & Financial Investment News

News Breaks
September 4, 2013
09:14 EDTSAI, JCP, ETFC, FRAN, LOGI, LNKD, GWRE, ROCM, DG, HRB, NAV, GIII, VRNT, BCR, BRCM, CIENOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Ciena (CIEN), up 9%... Dollar General (DG), up 4%... G-III Apparel (GIII), up 4%... Verint Systems (VRNT), up 7%. ALSO HIGHER: Rochester Medical (ROCM), up 44% after acquired by Bard (BCR) for approximately $262M... J.C. Penney (JCP), up 2% after Glenview reports a 9.1% passive stake... E-Trade (ETFC), up 7% after approved to dividend bank capital to parent company... Logitech International (LOGI), up 3% after Vincent Pilette named new CFO... Broadcom (BRCM), up 1.5%, after agreeing to acquire LTE assets from Renesas Electronics. DOWN AFTER EARNINGS: Navistar (NAV), down 6%... H&R Block (HRB), down 4%... Francesca's (FRAN), down 18%... SAIC (SAI), down 6%. ALSO LOWER: Guidewire Software (GWRE), down 8% after downgrade at Citigroup... LinkedIn (LNKD), down 2% after proposed offering of $1B of common stock.
News For CIEN;GIII;DG;BRCM;NAV;ROCM;BCR;HRB;GWRE;VRNT;FRAN;JCP;LNKD;ETFC;SAI;LOGI From The Last 14 Days
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August 27, 2015
07:05 EDTDGDollar General sees FY15 EPS $3.85-$3.95, consensus $3.95
For the 2015 fiscal year, the Company is reconfirming its financial guidance provided on June 2, 2015. Total sales are expected to increase 8 to 9 percent over the 2014 fiscal year, with same-store sales expected to increase 3 to 3.5 percent. Operating profit for 2015 is expected to increase 7 to 9 percent over the 2014 adjusted operating profit. Diluted EPS for the fiscal year is expected to be approximately $3.85 to $3.95. Considering sales performance to date and the current operating environment, management expectations are that same-store sales likely will be closer to the low-end of the range. Capital expenditures are expected to be in the range of $500 million to $550 million in 2015. Dollar General plans to open approximately 730 new stores in 2015, or 6 percent square footage growth, and relocate or remodel 875 stores. To date, the Company is on track with its pipeline development to accelerate new store openings to 7 percent square footage growth in 2016.
07:04 EDTDGDollar General confirms FY15 financial outlook
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07:04 EDTDGDollar General reports Q2 EPS 95c, consensus 94c
Reports Q2 revenue $5.1B, consensus $5.14B. Reports Q2 SSS up 2.8%.
06:14 EDTBCRC.R. Bard upgraded to Buy from Neutral at Goldman
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August 26, 2015
17:16 EDTCIENEXFO Inc. names Philippe Morin as COO
EXFO Inc. (EXFO) announced that Philippe Morin will be joining the company as COO in early November. Morin, who has more than 25 years of experience in the telecommunications industry, will leave Ciena (CIEN) as Senior Vice-President of Worldwide Sales and Field Operations on October 31. Previously, he was Ciena's Senior Vice-President of the Global Products Group and held a number of leadership roles at Nortel Networks including President of Metro Ethernet Networks, Vice-President and General Manager of Optical Networks, as well as having held positions in sales, marketing and product management in North America and Europe.
15:00 EDTDGNotable 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.
10:00 EDTCIENOn The Fly: Analyst Upgrade Summary
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09:02 EDTCIENCiena says 5430 Packet Optical Platform being deployed by SK Telecom
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07:59 EDTHRBH&R Block price target raised to $38 from $35 at Oppenheimer
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06:47 EDTCIENCiena upgraded to Outperform from Market Perform at Raymond James
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August 25, 2015
07:38 EDTDGDollar Tree, Dollar General weakness a buying opportunity, says UBS
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August 24, 2015
15:29 EDTDGDollar General August weekly volatility elevated into Q2 and outlook
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06:22 EDTBRCMTSMC pursuing 16nm chip orders, DigiTimes reports
According to market sources, DigiTimes reports that TSMC (TSM) has been "actively" seeking 16nm FinFET chip orders. In addition to securing a portion of Apple's (AAPL) A9 chip orders, TSMC has also received orders from AMD (AMD), Broadcom (BRCM), LG, Nvidia (NVDA) and Avago (AVGO), the sources say, noting that TSMC failed to maintain orders for Qualcomm's (QCOM) flagship mobile chips, as it has placed orders for the Snapdragon 820 series with Samsung (SSNLF). Reference Link
August 21, 2015
11:24 EDTHRBIntuit plummets after Q1, FY16 outlooks trail estimates
Shares of tax preparation software provider Intuit (INTU) are sinking after the company's first quarter and fiscal 2016 outlooks significantly trailed analyst's consensus estimates. WHAT'S NEW: After the close on Thursday, Intuit reported fourth quarter adjusted earnings per share of (5c) and revenue of $696M, compared to analysts' consensus estimates of (12c) and $738.98M, respectively. In the U.S., TurboTax Online units increased 11% and total TurboTax units grew 7%, excluding the Free File Alliance, the company said. Additionally, Intuit said it reached 1.075M QuickBooks Online subscribers through the end of Q4 and increased total QuickBooks online subscribers by 57% for the year. Brad Smith, Intuit's president and Chief Executive Officer said the company closed out fiscal year 2015 "on a strong note," adding that the company's small business momentum "continues to build and our QuickBooks Online ecosystem growth is accelerating." Looking ahead, Intuit said it expects Q1 adjusted EPS of (4c)-(3c) and revenue of $660M-$680M, well below analysts' consensus estimates of of 6c and $776.36M, respectively. For FY16, the company expects adjusted EPS of $3.40-$3.45 and revenue of $4.53B-$4.6B, far short of the consensus of $3.82 and $5.04B, respectively. WHAT'S NOTABLE: In its earnings release, Intuit announced its intent to divest Demandforce, QuickBase and Quicken. The divestment will help Intuit "focus on and invest in businesses that strengthen the ecosystem and align with two strategic goals: to be the operating system behind small business success, and to do the nations' taxes in the U.S. and Canada," the company said. As a result of the decision, the company said FY16 adjusted EPS will be reduced by about 10c and revenue will be reduced by approximately $250M, as the company reports these assets as discontinued operations. Separately, Intuit raised its dividend for the first quarter by 20% to 30c per share, payable on October 19. ANALYST REACTION: First Analysis analyst James Macdonald downgraded Intuit this morning to Underweight from Equal Weight. Macdonald said Intuit's small business online ecosystem has "relatively low monetization." PRICE ACTION: In late morning trading, Intuit fell $10.80, or 10.41%, to $92.23 on more than twice its average daily trading volume. Despite today's pull back, the shares have gained approximately 5% over the past year. OTHERS TO WATCH: Other companies in the tax preparation space include Liberty Tax (TAX), up 0.16%, and H & R Block (HRB), down 1.5%.
August 20, 2015
19:53 EDTJCPRetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
10:28 EDTJCPOptions with decreasing implied volatility
Options with decreasing implied volatility: KING JCP URBN DKS JWN HIG ADI DAR LOW TJX
10:22 EDTLNKDAfter meeting with CEO, JPMorgan says buy LinkedIn
After meeting with LinkedIn's CEO Jeff Weiner and CFO Steve Sordello, JPMorgan tells investors to buy the stock. Calling the recent decline in the shares a buying opportunity, the firm is upbeat about the outlook for the company's Talent, Marketing, and Sales Navigation units. WHAT'S NEW: Talent has performed well since the company assigned new sales professionals to most of its accounts in the first quarter, JPMorgan analyst Doug Anmuth quoted LinkedIn as saying. Additionally, the company improved Talent by enabling users to search by key criteria such as hiring volume and overall spending potential, Anmuth believes. Meanwhile, LinkedIn is improving Marketing by replacing display ads with sponsored updates which have higher click through rates and pricing, the analyst added. As a result of this change, Marketing's growth could reaccelerate in 2016, Anmuth contended. Additionally, LinkedIn's recently acquired online learning website, Lynda.com, is "just beginning to ramp," and its Sales Navigation unit is poised to make bigger deals with corporations, Anmuth believes. The analyst kept a $300 price target and Overweight rating on the shares. WHAT'S NOTABLE: On August 13, research firm Stifel called LinkedIn its "best emerging large cap idea." The firm expects positive catalysts to emerge for the company in the second half of 2015. It kept a Buy rating on the shares. PRICE ACTION: In early trading, LinkedIn lost 0.7% to $188.
10:00 EDTBRCMOn The Fly: Analyst Downgrade Summary
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08:39 EDTBRCMBroadcom downgraded to Hold from Buy at Argus
Argus downgraded Broadcom (BRCM) to Hold following the announcement that the waiting perorid under the Hart-Scott-Rodino Antitrust Act had expired. The firm now expects the acquisition by Avago (AVGO) to go through.
06:57 EDTLNKDLinkedIn pullback a buying opportunity, says JPMorgan
JPMorgan analyst Doug Anmuth recommends using the recent pullback in shares of LinkedIn as a buying opportunity. After meeting with management, including CEO Jeff Weiner and CFO Steve Sordello, Anmuth reiterates an Overweight rating on the stock. Management's tone was upbeat as Talent metrics have improved, the analyst points out. He keeps a $300 price target on the name.
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