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Stock Market & Financial Investment News

News Breaks
December 5, 2013
12:31 EDTDLTR, FDO, BIG, DGDollar General hits 52-week high after quarterly profit beats estimates
Shares of discount retailer Dollar General (DG) are rallying after the company reported better than expected third quarter profit and announced a $1B share repurchase plan. WHAT'S NEW: This morning, Dollar General reported Q3 earnings per share of 72c and revenue of $4.38B, compared to analysts’ consensus estimates of 70c and $4.42B. Same store sales increased 4.4%. WHAT’S NOTABLE: Dollar General raised the lower end of its previous FY13 EPS guidance. It forecast FY13 EPS of $3.18-$3.22, an increase from its prior view of $3.15-$3.22. FY13 consensus is $3.22. The company guided FY13 net sales growth to 10%-10.5%, slightly down from its prior view of 10%-11%. Its SSS growth view was narrowed to 4%-4.5% from 4%-5%. The company also raised its share repurchase plan by $1B, increasing the total authorization for future repurchases to $1.2B. PRICE ACTION: In early afternoon trading, Dollar General rose $3.56, or 6.3%, to $59.93 on more than twice its average daily trading volume. The stock hit a new 52-week high of $60.25 earlier in the session and is up over 35% since the start of the year. OTHERS TO WATCH: Other discount retailers include Family Dollar (FDO), Dollar Tree (DLTR), and Big Lots (BIG).
News For DG;FDO;DLTR;BIG From The Last 14 Days
Check below for free stories on DG;FDO;DLTR;BIG the last two weeks.
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April 23, 2014
08:08 EDTBIGSplunk, Big Lots on FBR's list of stocks that can double
FBR Capital compiled a list of stocks it believes can double within two years. The names on the list are: Big Lots (BIG), Children's Place (PLCE), Crane (CR), Dycom (DY), NCI Building Systems (NCS), Orbital Sciences (ORB), Orion Marine (ORN), Northstar Realty (NRF), World Acceptance (WRLD), Aegerion (AEGR), Novavax (NVAX), Cedar Fair (FUN), Sirius XM (SIRI), Sonus Networks (SONS), Splunk (SPLK) and Web.com (WWWW).
06:52 EDTDLTRDollar Tree added to short-term buy list at Deutsche Bank
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April 21, 2014
10:01 EDTBIGOn The Fly: Analyst Upgrade Summary
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05:43 EDTBIGBig Lots upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Big Lots to Overweight citing valuation and the company's turnaround initiatives. Piper raised its price target for shares to $45 from $39.
April 16, 2014
10:45 EDTFDOOptions with decreasing implied volatility: BBBY INFY RAD FDO
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10:00 EDTFDOOn The Fly: Analyst Upgrade Summary
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05:57 EDTFDOFamily Dollar upgraded to Neutral from Underperform at Sterne Agee
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April 15, 2014
10:23 EDTFDOOptions with decreasing implied volatility: FDO JNJ FAST EPB
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April 14, 2014
10:58 EDTFDOOptions with decreasing implied volatility: BBBY FDO STZ RAD
April 11, 2014
10:49 EDTFDOOptions with decreasing implied volatility: STZ EPB FDO YONG
April 10, 2014
13:14 EDTDLTR, DG, FDOFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
11:15 EDTFDOOptions with decreasing implied volatility: YONG STZ BBBY FDO EPB
10:46 EDTFDOFamily Dollar says continues to be opportunistic with share repurchases
10:27 EDTFDOFamily Dollar says search for president, COO is 'under way'
Says last few quarters have been "challenging." Says holiday season was challenged by a more promotional environment and a more financially constrained consumer. Sees opportunities to improve execution, increase relevance. Plans to slow square footage growth in the beginning of FY15. The company says it is on track to open approximately 525 stores this year, 350-400 stores next year. Says 18 storms resulted in 60 days negatively impacted by winter weather in Q2. Sees gross margin for Q3 to be similar to Q2. Sees charge in Q3 of about $4M related to employee severance costs. Sees SG&A expense to be develeraged in Q3. Sees gross margin to decline in FY14. Expects SG&A will deleverage for FY14. Expects tax rate for FY14 to be 36%-36.5%.
10:21 EDTFDOFamily Dollar says recently cut about 10% of corporate workforce
Sees charge in Q3 of about $4M related to employee severance costs. Comments made on the Q2 earnings conference call.
07:11 EDTFDOFamily Dollar says winter weather had at least 5c negative impact to Q2 EPS
Family Dollar Stores CEO Howard Levine said, “Our second quarter results did not meet our expectations. The 2013 holiday season was challenged by a more promotional competitive environment and a more financially constrained consumer. In addition, like many retailers, our second quarter results were significantly impacted by severe winter weather, which resulted in numerous store closings, disrupted merchandise deliveries and higher than expected utility and store maintenance expenses. Notwithstanding the macro-economic pressure, competitive environment and severe weather, we are not satisfied with our results, and we hold ourselves accountable for improving our performance. To that end, we have initiated an in-depth business review to identify opportunities to strengthen our value proposition, increase operational efficiencies and improve financial performance.” The company estimates that the negative financial impact in Q2 from the adverse winter weather was at least 5c of earnings per diluted share.
07:09 EDTFDOFamily Dollar sees FY14 EPS ex-items $3.05-$3.25, consensus $3.38
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07:07 EDTFDOFamily Dollar sees Q3 EPS ex-items 85c-95c, consensus 98c
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07:05 EDTFDOFamily Dollar to close about 370 stores, take other actions to reduce costs
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07:03 EDTFDOFamily Dollar reports Q2 EPS 80c, consensus 90c
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