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Stock Market & Financial Investment News

News Breaks
December 26, 2013
07:14 EDTCOST, SHLD, ODPEarly winners in online delivery race include Costco, Office Depot, WSJ reports
A few early studies are labeling the winners in a year where growth of online shopping has continued to outpace regular retail sales. Three retailers delivered within three days: Costco.com (COST), OfficeDepot.com (ODP) and Sears.com (SHLD), reports the Wall Street Journal. Reference Link
News For COST;ODP;SHLD From The Last 14 Days
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April 17, 2014
12:13 EDTSHLDSears director Thomas Tisch buys 475,000 shares
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April 13, 2014
17:45 EDTSHLDLand's End shares could head lower, Barron's says
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April 11, 2014
14:26 EDTSHLDCBL & Associates expects more J.C. Penney closures
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07:49 EDTCOSTCostco earnings can accelerate 'dramatically,' says Janney Capital
Janney Capital says Costco's price investments continue to drive share and build loyalty and have helped its traffic remain robust. The firm expects strong traffic to continue and for gas and forex headwinds to subside, which could lead to Costco's earnings accelerating "dramatically" in 2014. Janney keeps a Buy rating on Costco shares.
April 10, 2014
09:48 EDTCOSTCostco sees 1.5%-2% effect on April comps from 1 less shopping day
This April to include 27 selling days, compared to 28 days in same period last year. Costco says average transaction flat year-over-year in March, including forex impact. Comments from March sales results call.
05:47 EDTCOSTCostco reports March total company SSS up 5%
Reports March revenue up 8% to $10.43B vs. $9.67B last year. Reports March total company SSS, excluding negative impacts from gasoline price deflation and foreign exchange, up 7%.
April 9, 2014
09:20 EDTCOSTBofA/Merrill's retail analysts hold an analyst/industry conference call
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April 8, 2014
11:41 EDTODPUnited Stationers down after Genuine Parts unit wins Office Depot contract
Shares of United Stationers (USTR) are moving lower after Office Products International, a publication for the office products industry, reported yesterday that S.P. Richards confirmed it won the first-call wholesale business for Office Depot (ODP) in the U.S. United Stationers and S.P. Richards, a unit of Genuine Parts (GPC), are both suppliers to Office Depot. Shares of United Stationers are down 4% to $38.08 in morning trading. Shares of Genuine Parts are up 1% to $85.63.
April 7, 2014
07:01 EDTSHLDEquity One names David Lukes as next CEO
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April 5, 2014
19:03 EDTSHLDSears completes Land's End spin-off, receives $500M in gross proceeds
Sears Holdings (SHLD) announced that its pro-rata spin-off of Lands' End (LE) from Sears Holdings closed on April 4. Lands' End has now been separated from Sears Holdings and its common stock is expected to begin regular-way trading on the Nasdaq Capital Market under the symbol LE on April 7. Sears Holdings will continue to be listed on the Nasdaq Global Select Market under the symbol SHLD. Sears Holdings received aggregate gross proceeds from the spin-off of $500M, consisting of a cash dividend paid by Lands' End prior to the spin-off to a subsidiary of Sears Holdings. In the spin-off, Sears Holdings distributed a total of approximately 32M shares of Lands' End common stock to the holders of Sears Holdings common stock as of 5:30 p.m. Eastern time on March 24, the record date. Each share of Sears Holdings common stock outstanding as of the record date entitles the holder thereof to receive 0.300795 shares of Lands' End common stock, except that holders of Sears Holdings' restricted stock that was unvested as of the record date will receive cash awards in lieu of shares. In addition, as part of the spin-off, Lands' End entered into an asset-based senior secured revolving credit facility, which provides for maximum borrowings of approximately $175M with a letter of credit sub-limit, and a senior secured term loan facility of approximately $515M. The proceeds of the term loan facility were used to pay the $500M dividend to the Sears Holdings subsidiary and to pay fees and expenses associated with the foregoing facilities of approximately $10M, with the remaining proceeds to be used by Lands' End for general corporate purposes.
April 4, 2014
10:04 EDTSHLDSears risk/reward negative, says ISI Group
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