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Stock Market & Financial Investment News

News Breaks
August 14, 2014
16:30 EDTCSCO, WMT, KSS, OVTI, RRGB, NDLSOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory and drifted higher throughout the session. The president gave an optimistic press conference about the situation in Iraq, followed by press reports that the nation's incumbent Prime Minister has conceded defeat and will back the PM-designate. In another positive international development, a ceasefire was called by Russia to allow humanitarian efforts to take place in Ukraine. Investors are setting their sights now on tomorrow’s economic reports, which include the producer prices index, treasury bond flows, industrial production and capacity utilization reports and the University of Michigan consumer confidence report. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 311K in the second week of August, versus expectations for 295K claims. Import prices fell 0.2%, while export prices were flat in July. In Europe, growth in the shared currency zone stagnated, with Q2 GDP slipping to unchanged. The biggest economy in the region, Germany, saw its GDP contract 0.2% in the quarter. COMPANY NEWS: Cisco Systems (CSCO) was the laggard on the Dow Jones Industrial Average, falling 66c, or 2.62%, to $24.54 after saying it does not expect emerging markets growth for "several quarters" and that it expects to cut 6,000 jobs, or 8% of its workforce. The move lower came despite its report of higher than expected sales and profits for its fiscal fourth quarter and multiple Street research firms raising their price targets on Cisco's stock... Another member of the Dow, Wal-Mart (WMT), reported second quarter results that were in-line with expectations, but the world's largest retailer cut its fiscal year earnings outlook citing additional investments in e-commerce and higher U.S. health-care costs than previously anticipated. Despite the lowered guidance, Wal-Mart shares finished the day up 36c, or 0.49%, at $74.39. MAJOR MOVERS: Among the notable gainers was OmniVision (OVTI), which rose $3.69, or 15.0%, to $28.29 after announcing its board has received a preliminary non-binding proposal from Hua Capital Management to acquire all of the outstanding shares of common stock of the company for $29.00 per share in cash. Also higher was department store operator Kohl's (KSS), which gained $1.80, or 3.27%, to $56.91 after reporting better than expected second quarter earnings and noting that its sales improved as the quarter progressed, with July comparable sales turning positive. Among the noteworthy losers was Red Robin Gourmet Burgers (RRGB), which fell $11.92, or 18.47%, to $52.63 after the company reported lower than anticipated second quarter results and its stock was downgraded to Neutral from Buy at Longbow. Also lower after reporting quarterly earnings that missed expectations was another restaurant operator, Noodles & Company (NDLS), which dropped $4.05, or 16.08%, to $21.16. INDEXES: The Dow gained 61.78, or 0.37%, to 16,713.58, the Nasdaq advanced 18.88, or 0.43%, to 4,453.00, and the S&P 500 added 8.46, or 0.43%, to 1,955.18.
News For CSCO;WMT;KSS;OVTI;RRGB;NDLS From The Last 14 Days
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October 15, 2014
15:26 EDTWMTWal-Mart sees FY15 capital investments between $12.5B-$13.0B
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15:22 EDTWMTWal-Mart sees FY16 net sales growth of 2%-4%
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15:19 EDTWMTWal-Mart lowers FY15 net sales growth forecast to 2%-3%
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15:16 EDTWMTWal-Mart drops 4% after giving guidance at analyst day meeting
11:14 EDTWMTWal-Mart Sam's Club CEO: Our business pressure remains mixed
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10:14 EDTWMTWal-Mart says 'Savings Catcher' has 5M users, to open more registers than ever
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09:39 EDTWMTWal-Mart US CEO: Our first half was challenging and we need to improve traffic
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09:37 EDTWMTWal-Mart expects to open 190 stores between now and end of the year
Wal-Mart US President Greg Foran believes Q4 actions will offset a portion of significant headwinds like wages and healthcare costs. Says the company will be "thoughtful" on wages.
09:16 EDTWMTWal-Mart CEO outlines growth strategy at annual meeting
President and CEO Doug McMillon said "Customers make their shopping decisions based on four key dimensions – price assortment, experience and access. What we can offer them, and how we compete across those dimensions, is changing... We have tens of millions of customers visiting us weekly online and through our mobile apps looking for information, product options and then buying merchandise from us in stores and online. We’re known for assortment and we will be in the future.” Discussing price and experience, McMillon went on to say, “At Walmart, we serve value-conscious customers that come from all walks of life and all income levels. Price matters to our customers and it always will. As a company, being a low cost operator is in our DNA. This will never change and we will be the price leader, across a broad assortment, everywhere we operate." McMillon continued, “To capture the upside of our strategic advantages, we need to develop a more seamless relationship with our customers. We won't just be a store on the street." McMillon outlined what the company is doing to win now, noting that improving the company’s short-term performance is a priority across all of Walmart’s segments and markets. “Our supercenters in the U.S. should be delivering positive comps consistently. Our combination of pricing, in stock, service levels and merchant skills will generate improved performance in our supercenters. Our Neighborhood Markets continue to be a bright spot in terms of comp sales.” McMillon highlighted three key points that will drive the business going forward: “First, we're going to position ourselves to do a better job serving customers. We can create a next generation customer proposition through the combination of what we do with price, assortment, access and experience. We will save them money and time. Second, our priority is growth. Driving demand is the only sustainable way to deliver returns over time. Finally, we’ll manage capital in a disciplined, thoughtful manner.”
09:14 EDTWMTWal-Mart CEO: We've recognized situation has changed, will respond accordingly
The company expects to continue investing in supply chain to support e-commerce with real momentum there. CEO Doug McMillon says "We will win in the new era of retail." and adds that "driving demand is the only sustainable way to deliver results." Notes once again that the company will manage capital in disciplined, thoughtful manner.
09:09 EDTWMTWal-Mart expects to change capital allocation plans, short term pressure
CEO Doug McMillon said the company will invest less in stores and more in e-commerce. He adds that the company is in a "period of transformation." He said the company took leverage a bit too far, and improving short term performance is a priority for the company's business segments. McMillon said the company has room to improve in stock and at checkout. He says the changes won't happen overnight. Notes that low fuel prices are in the company's favor although healthcare is a headwind. Says the successor of competitors shows it has no excuse to not improve.
09:05 EDTWMTWal-Mart CEO: Future looks bright with the necessary changes
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06:49 EDTWMTWal-Mart partners with VUDU for digital movie access offering
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06:15 EDTCSCOCisco lays off 900 in San Jose area, Silicon Valley Business Journal says
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October 13, 2014
10:06 EDTKSSJ.C. Penney rises after selecting Home Depot executive as next CEO
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09:02 EDTWMTWal-Mart October volatility elevated into investment community meeting
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07:15 EDTWMTNational Association of Corporate Directors to hold a conference
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06:15 EDTKSSJ.C. Penney downgraded to Sell from Neutral at UBS
UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.
October 12, 2014
17:55 EDTWMTWal-Mart, DSW could benefit from holiday sales, Barron's says
Wal-Mart (WMT) and DSW (DSW) could benefit from the recent forecast of a 4% increase in holiday spending, Barron's contends in a follow up article. Reference Link
17:20 EDTCSCOGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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