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Stock Market & Financial Investment News

News For CRM;JCP From The Last 14 Days
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May 21, 2013
08:56 EDTJCPJ.C. Penney announces successful tender, consent solicitation for debentures
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May 20, 2013
13:21 EDTCRMSalesforce.com checks suggest strong Q1 results, says Stephens
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10:23 EDTJCPJ.C. Penney advances after analyst hikes price target to $27
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10:11 EDTJCPOn The Fly: Analyst Upgrade Summary
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09:40 EDTCRMActive equity option families trading
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08:16 EDTJCPFollow-up: J.C. Penney upgraded to Buy from Hold at Maxim
Maxim upgraded J.C. Penney on expectations the company's strategy changes under new CEO Mike Ullman will drive traffic. The firm said its recent channel checks indicate that store traffic has increased and it raised its price target for shares to $27 from $16.50.
08:03 EDTJCPJ.C. Penney upgraded to Buy from Hold at Maxim
07:30 EDTJCPJ.C. Penney price target lowered to $7 from $12 at BMO Capital
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May 17, 2013
10:55 EDTJCPJ.C. Penney drops after results miss expectations
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09:48 EDTJCPJ.C. Penney falls after earnings miss, levels to watch
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08:35 EDTJCPJ.C. Penney reiterated as a Sell at Northcoast
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07:47 EDTJCPJ.C. Penney situation should only improve from here, says RW Baird
Baird believes there are several reasons why J.C. Penney's situation should only improve from here including better recent trends, prudent pricing and promotion, easy comps, and the re-introduction of in-demand product for fall. Baird maintains its Neutral rating and $19 price target pending further details on the company's new strategy.
07:11 EDTJCPJ.C. Penney CEO says needs time to fix problems, Reuters reports
J.C. Penney CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, reports Reuters.Reference Link
07:10 EDTCRMSalesforce.com outlook appears positive, says Oppenheimer
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06:54 EDTCRMSalesforce.com May weekly volatility elevated at 73 into Q1 and outlook
Salesforce.com May weekly call option implied volatility is at 73, June is at 38, August is at 33; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on May 23.
06:28 EDTJCPJ.C. Penney CEO likely to make substantial progress, says Deutsche Bank
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06:06 EDTJCPOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A so-so Q1 earnings season hasn't dented investors' enthusiasm for stocks as prices have been rising, with the DJIA up 16% for the year and 4.2% since earnings season began April 8, the Wall Street Journal reports...JPMorgan Chase (JPM), in a last-ditch effort to beat back activist investors, sent a letter to shareholders who have yet to vote on the nonbinding proposal ahead of the May 21 annual meeting, urging them to reject a proposal to split the chairman and CEO roles held by James Dimon, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) will be called back to the British parliament to clarify how its activities in the U.K. justify its low corporate income tax bill, Reuters reports...J.C. Penney (JCP) CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, Reuters reports...BLOOMBERG: Apple (AAPL), which holds $102B in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country, Bloomberg reports...Fiat’s (FIATY) deliberations over moving its headquarters to the U.S. after a merger with Chrysler Group LLC. raised concern among Italian unions and politicians about the plans of the country’s biggest manufacturer. CEO Marchionne is considering the move because Fiat’s main sources of revenue and profit are shifting to North America, Bloomberg reports.
05:50 EDTJCPJ.C. Penney price target raised to $20 from $15 at Citigroup
Citigroup raised its price target for J.C. Penney to $20 following the company's Q1 results while keeping a Neutral rating on the stock. Citi says it is encouraged by new CEO Mike Ullman's strategic plan, which it expects will improve same-store-sales.
May 16, 2013
18:56 EDTJCPOn The Fly: After Hours Movers
UP AFTER EARNINGS: SINA (SINA), up 4.2%. ALSO HIGHER: Kansas City Southern (KSU), up 1.6% after it was announced the company would replace Dean Foods (DF) in the S&P 500 on May 23. DOWN AFTER EARNINGS: Autodesk (ADSK), down 6.5% after earnings, guiding its second quarter below expectations... Aruba Networks (ARUN), down 17.1% after earnings, guiding its fourth quarter below expectations... Nordstrom (JWN), down 3.5%... J.C. Penney (JCP), down 1.7%... Brocade (BRCD), down 2.4% after earnings, guiding its third quarter below expectations.
18:03 EDTJCPJ.C. Penney says Q1 traffic down 6% vs. year ago
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16:42 EDTJCPJ.C. Penney down 30c, or 1.60%, to $18.49 after earnings miss estimates
16:37 EDTJCPJ.C. Penney reports Q1 gross margin 30.8% of sales vs. 37.6% a year ago
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16:31 EDTJCPJ.C. Penney reports Q1 adjusted EPS ($1.31), consensus (86c)
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15:14 EDTJCPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Dell (DELL), consensus 35c; Applied Materials (AMAT), consensus 13c; Nordstrom (JWN), consensus 76c; Autodesk (ADSK), consensus 45c; J. C. Penney (JCP), consensus (86c); SINA (SINA), consensus (3c); ViaSat (VSAT), consensus 2c; Brocade Communications (BRCD), consensus 15c; Aruba Networks (ARUN), consensus 15c.
13:52 EDTJCPJ.C. Penny May 19 straddle priced for 8% move into Q1
11:40 EDTJCPStocks with call strike movement; FSLR JCP
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09:38 EDTCRM, CRMSalesforce.com partners met or beat expectations for Q1, says OTR Global
OTR Global's said Salesforce.com's partners have met or beat Q1 2014 business expectations driven by the Force.com platform.
09:33 EDTCRM, CRMSalesforce.com mentioned positively at OTR Global
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08:00 EDTJCPJ.C. Penney shares more expensive than they look, says Wells Fargo
Although J.C. Penney's market cap is $4.2B, its enterprise value, including its net debt, is $7.4B, according to Wells Fargo. That is very similar to 2010 levels, when the retailer's EPS was $1.38, according to the firm. Wells notes that the stock would be trading at 15.1 times earnings even if the company generates $1.26 in EPS sometime in the future, and it keeps an Underperform rating on the shares.
May 15, 2013
11:45 EDTJCPStocks with call strike movement; JCP BBY
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08:48 EDTJCPJ.C. Penney recommended at Buckingham
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05:56 EDTJCPJ.C. Penney board supporting new CEO, not Ackman, NY Post reports
Bill Ackman has lost influence over J.C. Penney's (JCP) board after failing to quickly replace the company's new CEO Mike Ullman, New York Post reports, citing sources. Ackman approached a number of candidates about the position, including Foot Locker (FL) CEO Ken Hicks, but the board was not interested, the paper adds. Reference Link
May 14, 2013
16:24 EDTJCPJ.C. Penney real estate appraised at $4.06B, Reuters says
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15:29 EDTJCPJ.C. Penney stores, real estate appraised at $4.06B, Reuters reports
15:13 EDTJCPJ.C. Penny May 19 straddle priced for 8.5% move into Q1
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14:12 EDTJCPJ.C. Penney upgraded to Neutral from Underperform at BofA/Merrill
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11:51 EDTJCPStocks with call strike movement; JCP BBY
J.C. Penney (JCP) June 21 call volatility increased 2% to 60, Best Buy (BBY) June 31 call option implied volatility decreased 2% to 59 according to IVolatility.
09:12 EDTJCPJ.C. Penney increases tender offer consideration to $1,400
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07:43 EDTCRMSalesforce.com June volatility flat into Q1 and outlook
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May 13, 2013
11:30 EDTJCPJ.C. Penney May volatility elevated at 96 into Q1
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09:50 EDTJCPJ.C. Penney pops higher in early trading, levels to watch
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09:11 EDTJCPJ.C. Penney feedback indicates a sales pickup, sa Cleveland Research
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May 10, 2013
13:26 EDTJCPS&P assigns J.C. Penney term loan 'B' issue-level rating
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10:00 EDTJCPOn The Fly: Analyst Downgrade Summary
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07:25 EDTJCPJ.C. Penney downgraded to Sell from Neutral at Northcoast
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May 9, 2013
15:06 EDTCRMBrown Advisory reports 5.0% passive stake in Salesforce.com
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08:56 EDTCRMMorgan Stanley remains buyers of Salesforce.com
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May 8, 2013
17:01 EDTJCPOn The Fly: Closing Wrap
Stocks on Wall Street were higher again, pushing the Dow and S&P to new record levels. A late afternoon move down to the flatline made it seem like the recent winning streak was set to end, but the averages quickly reversed higher and closed firmly in positive ground. ECONOMIC EVENTS: In the U.S., the light economic calendar included MBA's report on mortgage applications, which were up 7%, and the EIA's petroleum status report, which showed crude oil inventories built up by less than was expected last week. In Europe, German industrial production increased 1.2% month-over-month in March, beating expectations for a 0.1% decline. In Asia, Chinese trade data showed exports climbed 14.7% in April, while imports were up 16.8%. However, some analysts expressed caution that the strong export gains should be viewed with some level of skepticism. COMPANY NEWS: Dow member Disney (DIS) beat expectations on the top and bottom line and price targets on the stock were raised at several firms, but shares slid 8c, or 0.12%, to $65.99... J.C. Penney (JCP) released preliminary Q1 results last night, including comparable store sales that were down 16.6% and revenue of $2.64B, which was below expectations. However, the results were enough to send shares of the heavily-shorted retailer up $1.21, or 7.38%, to $17.61. MAJOR MOVERS: Among the notable gainers was Whole Foods Market (WFM), up $9.39, or 10.12%, to $102.19 after earnings beat estimates, the company raised its full year outlook and announced a two-for-one stock split. Also higher were shares of Dex Media (DXM), up $2.84, or 20.71%, to $16.55 after Kyle Bass, presenting at the Sohn Investing Conference, said the company's stock could trade up to 5 times higher than current levels in 3 years. Among the noteworthy losers was Fusion-io (FIO), down $3.40, or 18.89%, to $14.60 after its CEO and chief marketing officer resigned and shares were downgraded by at least two analyst firms. Also lower following its earnings report was Zillow (Z), which fell $6.26, or 9.95%, to $56.68. INDICES: The Dow was up 48.92, or 0.32%, to 15,105.12; the Nasdaq was up 16.64, or 0.49%, to 3,413.27; and the S&P 500 was up 6.73, or 0.41%, to 1,632.69.
12:20 EDTJCPOn The Fly: Midday Wrap
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12:11 EDTJCPStocks with call strike movement; FSLR JCP
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10:49 EDTCRMSalesforce.com May volatility low at 24
Salesforce.com May call option implied volatility is at 24, June is at 34, August is at 32; compared to its 26-week average of 35 according to Track Data, suggesting decreasing near term price movement.
10:40 EDTCRMSalesforce.com, Yelp rumored as potential Sohn short mentions, Kass says
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10:00 EDTJCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ametek (AME) upgraded to Buy from Neutral at Citigroup... IAMGOLD (IAG) upgraded to Buy from Hold at Canaccord... Lowe's (LOW) upgraded to Buy from Neutral at ISI Group... lululemon (LULU) upgraded to Buy from Neutral at Sterne Agee... Myriad Genetics (MYGN) upgraded to Buy from Neutral at Mizuho... Orion Marine (ORN) upgraded to Outperform from Market Perform at FBR Capital... Trex Company (TREX) upgraded to Buy from Hold at BB&T... U.S. Auto Parts (PRTS) upgraded to Buy from Neutral at Roth Capital... Electronic Arts (EA) upgraded to Neutral from Sell at Monness Crespi... Electro Scientific (ESIO) upgraded to Buy from Hold at Noble Financial... Darling (DAR) upgraded to Buy from Hold at Maxim... J.C. Penney (JCP) upgraded to Hold from Sell at Maxim... Louisiana-Pacific (LPX) upgraded to Neutral from Underperform at DA Davidson... Grupo Televisa (TV) upgraded to Overweight from Equal Weight at Morgan Stanley... Marathon Oil (MRO) upgraded to Outperform from Neutral at Macquarie... Sibanye Gold (SBGL) upgraded to Overweight from Neutral at JPMorgan... Carrols Restaurant (TAST) upgraded to Strong Buy from Outperform at Raymond James.
09:25 EDTJCPJ.C. Penney could generate signficant profits by 2016, says Buckingham
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08:57 EDTJCPFollow-up: J.C. Penney upgraded to Hold from Sell at Maxim
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08:45 EDTJCPJ.C. Penney upgraded to Hold from Sell at Maxim
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08:33 EDTJCPJ.C. Penney estimates lowered on Q1 sales decline at Morgan Stanley
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