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Stock Market & Financial Investment News

News Breaks
February 22, 2012
17:00 EDTATRI, FIRE, TOL, DELL, HSTM, GRMN, CETV, MGM, CHSOn The Fly: Closing Wrap
Stocks on Wall Street were lower, as the market took a breather from its steady move higher so far this year. The open was slightly lower following a weak pre-market session by the futures. The weakness was attributed to concerns over whether Greece could adhere to its austerity measures over the medium term, as well as disappointing manufacturing data from Europe and China. The market moved to its lowest levels of the session near mid-day, following statements by the Obama administration that corporate tax rates would be reduced but that interest would be taxed as ordinary income. The market quickly found a level where it sat for a couple of hours before moving back towards the flat line. There was little in the way of catalysts to move the buyers off the sidelines, as the domestic economic calendar remained quiet and there were few headlines of note from Europe... ECONOMIC EVENTS: Domestically, existing home sales rose by 4.3% in January, but the prior month's growth rate was revised lower. The resulting annual sales rate of 4.57M homes sold was down slightly from the annual rate of 4.61M reported a month ago. Also of note was a proposal from the Obama administration to cut the maximum U.S. corporate tax rate to 28% from 35% while eliminating many existing tax loopholes. Internationally, a euro zone composite PMI and a separate Chinese PMI reading both came in at 49.7, indicating contraction... MARKET NEWS: Dell (DELL) fell about 6% in heavy trading as it was downgraded to Neutral from Buy at Citigroup following its Q4 report. Citi cited weakening prospects for additional margin expansion and lowered its price target in the name to $19 from $20... Among others reporting earnings, winners included Chico's FAS (CHS) and Garmin (GRMN); losers included Toll Brothers (TOL) and MGM Resorts (MGM)... MAJOR MOVERS: Notable gainers included Healthstream (HSTM), up $5.21, or 30.05%, to $22.55, and SourceFire (FIRE), up $9.36, or 26.13%, to $45.18, following their earnings reports. Noteworthy losers included Central Euro Media (CETV), down $1.55, or 18.24%, to $6.95, and Newfield Exploration (NFX), down $5.37, or 12.71%, to $36.88, after disappointing quarterly results... INDICES: The Dow fell 27.02, or 0.21%, to 12,938.67; the Nasdaq slid 15.40, or 0.52%, to 2,933.17; and the S&P 500 dropped 4.55, or 0.33%, to 1,357.66.
News For DELL;CHS;GRMN;TOL;MGM;HSTM;FIRE;CETV;ATRI From The Last 14 Days
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August 26, 2015
07:32 EDTCHSChico's reports Q2 pre-tax restructuring and strategic charges of $16.2M
For the second quarter of fiscal 2015, in connection with the Plan, the Company determined that certain Boston Proper intangibles were impaired and recorded $66.9 million in pre-tax, non-cash goodwill and trade name impairment charges ("Impairment Charges"), comprised of $48.9 million related to goodwill and $18.0 million related to the trade name. On an after-tax basis, second quarter Impairment Charges were $47.1M, or 33c per share.
07:31 EDTCHSChico's reports Q2 adjusted EPS 25c, consensus 22c
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August 25, 2015
16:43 EDTTOLOn The Fly: Top stock stories for Tuesday
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15:00 EDTCHSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Chico's (CHS), consensus 22c... Express (EXPR), consensus 16c... Abercrombie & Fitch (ANF), consensus (4c).
14:31 EDTCHSChico's volatility elevated into Q2 and outlook
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13:00 EDTTOLToll Brothers lags market rebound after reporting Q3 results
Shares of luxury home builder Toll Brothers (TOL) are trading lower after reporting third quarter profit and revenue that were lower than last year's Q3 results. WHAT'S NEW: Toll Brothers this morning reported Q3 earnings per share of 36c, well below the 53c the company reported in the year-ago quarter. Revenue for the quarter of $1.03B and deliveries of 1,419 units declined 3% in dollars and 2% in units from the year-ago level, while impairments rose to $18M from $6M in the year-ago quarter. Analysts were expecting Toll Brothers to report Q3 EPS of 49c on revenue of $1.05B. The company said that the average price of homes delivered was $724,000, compared to $732,000 in 3Q14. Looking ahead, Toll Brothers forecast fourth quarter deliveries of 1,645-1,945 units priced between $780,000-$800,000. The company also lowered the top end of its 2015 home deliveries forecast, and now sees deliveries of 5,350-5,650 homes compared to its prior forecast of 5,300-5,900 homes. Separately, The Commerce Department reported new home sales for July were up 5.4% to an annual pace of 507,000, which fell within the range of expectations. WHAT'S NOTABLE: On quarterly earnings conference call, Toll Brothers said it still sees net income and gross margin growth in 2016. The company added that the housing recovery is built on a "very solid foundation." The steady acceleration the industry is experiencing bodes well for the health of housing market due to pent-up demand, increasing household formations and current industry-wide production, the company said. The home builder said that there is "significant room" for growth with increased profitability in fiscal year 2016 and beyond. Toll also said it sees further consolidation in the sector. OTHERS TO WATCH: Other companies in the home building space include Lennar Corporation (LEN) PulteGroup (PHM), Hovnanian Enterprises, (HOV) and Ryland Group (RYL). PRICE ACTION: Shares of Toll Brothers are down 0.5% to $37.87 amid a broader market advance.
11:54 EDTTOLToll Brothers sees further consolidation in home builder sector
11:51 EDTTOLToll Brothers says continues to have 'terrific' pricing power
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11:22 EDTTOLToll Brothers says 'careful,' 'opportunistic' about land spend
11:18 EDTTOLToll Brothers says housing market remains on an upward trend
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11:18 EDTTOLToll Brothers says still sees net income, gross margin growth in 2016
Says that for the first four weeks of August, contracts in units are up 16% vs. last year. Says seeing strength in "active adult" communities. Says rental apartment business continues to outperform expectations. Says plans to expand rental apartment business nationally. Says housing recovery built on "very solid foundation." Says slow but steady acceleration industry is experiencing bodes well for health of housing market due to pent up demand, increasing household formations, current industry wide production. Says has "significant room" for growth, increased profitability in FY16 and beyond. Says "very optimistic" about future. Sees Q4 tax rate approx. 31%, FY tax rate around 32% vs. previous view of around 31%. Still sees net income, gross margin growth in 2016. Comments made on the Q3 earnings conference call. Toll Brothers is fractionally lower at $38.05 in morning trading.
09:59 EDTGRMNOn The Fly: Analyst Upgrade Summary
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07:14 EDTGRMNGarmin introduces Edge Explore 1000 GPS bike computer
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06:36 EDTGRMNGarmin upgraded to Outperform from Market Perform at Raymond James
Raymond James upgraded Garmin to Outperform from Market Perform with a $43 price target. The firm upgraded shares following the sharp market selloff and said the stock is as inexpensive as it has been on an absolute or relative basis since 2010. Raymond James said Garmin remains growth challenged near-term but recent currency moves should help in coming quarters and provide a tailwind.
05:34 EDTTOLToll Brothers sees FY15 deliveries 5,350-5,650 units priced between $745K-$760K
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05:33 EDTTOLToll Brothers sees Q4 deliveries 1,645-1,945 units priced between $780K-$800K
05:32 EDTTOLToll Brothers reports Q3 EPS 36c, may not compare to consensus 49c
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August 24, 2015
15:09 EDTTOLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Best Buy (BBY), consensus 34c... Toll Brothers (TOL), consensus 49c... Valspar (VAL), consensus $1.26... DSW (DSW), consensus 42c... Children's Place (PLCE), consensus (33c).
13:01 EDTTOLEarnings Watch: UBS positive on Toll Brothers ahead of Q3 results
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12:45 EDTTOLToll Brothers technical comments before earnings
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