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Stock Market & Financial Investment News

News Breaks
August 14, 2014
16:30 EDTCSCO, NDLS, KSS, RRGB, WMT, OVTIOn 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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November 12, 2014
12:15 EDTWMTWal-Mart November weekly 79 straddle priced for 2% move into Q1
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11:58 EDTWMTWal-Mart weekly volatility elevated into Q3 and holiday outlook
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11:55 EDTCSCOCisco November weekly 25 straddle priced for 4.4% move into Q1
11:51 EDTCSCOCisco technical comments before earnings
The stock has underperformed the broader averages in the past three months, falling over 1%. That lower performance would have been far worse if not for the recent uptrend off the mid-October lows. That rally helped to overcome the otherwise bearish head and shoulders that had developed on the daily chart and had completed at mid-October. In a long view, the current price action appears to put the shares either at a double top, or poised for a breakout that would results in four-year highs or more. The key level is at $26, not far from where the stock is currently trading. On better news or guidance, a move above $26 would seem highly probable and that would constitute a technical bullish breakout. Next resistance would be at $27.74 and then at $28.40. If the news is not as bullish as current price action suggests, the recent uptrend would probably be broken. It would only take a move below $24.50 for that to happen. Additional downside objectives might be at the following supports at $23.76, $22.43 and $21.94. A move down to or below $22 would confirm a major top was in place, which would have long-term bearish implications for price.
10:13 EDTCSCOEZchip expects revenue from Cisco to grow YoY in 2014
Comments taken from Q3 earnings conference call.
09:58 EDTCSCOCisco November volatility increases into Q1 and outlook
Cisco November weekly call option implied volatility is at 77, November is at 34, December is at 23, January is at 19, February is at 20; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on November 12.
06:46 EDTWMTWal-Mart reminds stores to display fresh grocery products, NY Times says
Wal-Mart last month issued a memo to managers around the U.S., telling them to discount older meat and baked goods to ensure that they sell before they reach their expiration dates, according to The New York Times. The memo also reminds managers to remove expired dairy products and eggs, as well as moldy or rotting produce, from shelves, and reduce inventory, the newspaper stated. Reference Link
05:24 EDTWMTWal-Mart announces 'New Black Friday' event, holiday pay for associates
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November 11, 2014
10:01 EDTCSCOInteractive Intelligence hires Jeff Platon as Chief Marketing Officer
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November 10, 2014
16:00 EDTWMTOptions Update; November 10, 2014
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15:29 EDTCSCOCisco November volatility increases into Q1 and outlook
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14:15 EDTKSSKohl’s November puts active into Q3 and outlook
Kohl's November 55 puts are active on 1200 contracts compared to its open interest of 2000 contracts. November put option implied volatility is at 39, December is at 28, January is at 25; compared to its 26-week average of 25 according to Track Data. Active put volume suggests traders taking positions for near term price movement in the expected release of Q3 results on November 13.
12:36 EDTWMT, KSSAbercrombie, American Eagle sink after analyst downgrades
Shares of specialty teen apparel retailers Abercrombie & Fitch (ANF) and American Eagle Outfitters (AEO) are falling after a number of analysts issued negative notes on the companies. WHAT'S NEW: Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Perform from Outperform. The company's earnings outlook has become less clear as its U.S. brand has not yet become popular, and retail brand turnarounds usually take awhile, Oppenheimer analyst Anna Andreeva wrote in a note to investors. Additionally, Abercrombie's international business, which has deteriorated further this year, faces "mounting uncertainty,” the analyst stated. The analyst slashed her price target on the name to $30 from $50. Meanwhile, Barclays analyst Matthew McClintock downgraded American Eagle Outfitters to Equal Weight from Overweight. McClintock has become more pessimistic about the outlook for American Eagle's comparative store sales in the second half of 2014, given recent data points from a number of retailers, including Abercrombie & Fitch, Kohl's (KSS), Wal-Mart (WMT), J.C. Penney (JCP), and Ann Inc. (ANN). The analyst said he saw no reason why American Eagle should significantly outperform the overall apparel sector. McClintock cut his price target on the name to $11 from $15. Meanwhile, the analyst lowered his rating on the Softline Retail sector to Negative from Positive, as he believes that the sector, which includes companies that sell products like apparel, towels, and jewelry - is facing structural difficulties that are likely to persist for the next several years. Separately, research firm Janney Capital downgraded Abercrombie to Neutral from Buy in a note to investors today. PRICE ACTION: In early afternoon trading, Abercrombie & Fitch sank 3.5% to $28.50 and American Eagle dropped 4% to $12.40.
09:00 EDTWMTWal-Mart weekly volatility increases into Q3 and holiday outlook
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08:23 EDTWMTWal-Mart expectations appear muted heading into earnings, says RW Baird
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08:22 EDTCSCONetwork equipment makers slip after AT&T projects lower 2015 capital spending
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08:07 EDTKSSKohl's to open stores at 6p.m. on Thanksgiving Day
07:12 EDTCSCOCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
November 9, 2014
18:41 EDTWMTWal-Mart to focus on food safety in China, Reuters says
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16:55 EDTWMTWal-Mart China sales impacted by country's austerity program, WSJ says
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