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Stock Market & Financial Investment News

News Breaks
April 30, 2012
06:13 EDTWCRX, WWW, WMT, PSS, DGOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Stock-trading hedge funds looking to extend their Q1 rebound ran into a nervous market in April, a reminder that funds betting that stocks will rise or fall based on valuation or other fundamentals can get thrown off when markets become rough, the Wall Street Journal reports...Dollar General (DG), whose stores have taken bargain hunting shoppers from Wal-Mart Stores (WMT), is now looking to take market share from the grocery business, the Wall Street Journal reports...REUTERS: San Francisco Fed President Williams is more optimistic about the U.S. economy now than three months ago and doesn't see the need for further monetary measures now, according to the Handelsblatt newspaper, Reuters reports...China is considering sovereign guarantees for its ships to enable it to continue importing Iranian crude after new EU sanctions come into effect in July, Reuters reports...BLOOMBERG: Warner Chilcott (WCRX) is considering its options, including a possible sale, after receiving interest from strategic and private-equity buyers, sources say, Bloomberg reports...Collective Brands (PSS) selected a group made up of Wolverine World Wide (WWW) and Golden Gate Capital as the leader to buy the company, sources say, Bloomberg reports.
News For DG;WMT;WCRX;PSS;WWW From The Last 14 Days
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January 30, 2015
11:59 EDTWWWDeckers Outdoor plummets after missing Q3 estimates, cutting outlook
Shares of casual apparel and footwear maker Deckers Outdoor (DECK) are sinking after the company's third quarter results missed analysts' expectations. The company also lowered its outlooks for the fourth quarter and fiscal year 2015. WHAT'S NEW: Last night, Deckers Outdoor reported Q3 earnings per share of $4.50 and revenue of $784.7M, trailing analysts' consensus estimates of $4.52 and $813.7M, respectively. Direct-to-Consumer comparable sales increased 7.6% over the same period a year ago. UGG brand sales increased 6.5% to $736M, compared to $690.9M for the same period last year. E-Commerce sales increased 25.2% to $146.9M compared to $117.3M for the same period last year. Gross margin increased 180 basis points to 52.9% compared to 51.1% for the same period last year. Deckers also announced that its board of directors approved the repurchase of an additional $200M of the company's common stock. WHAT’S NOTABLE: Looking ahead to Q4, Deckers Outdoor cut its EPS view to 0c from 15c, well below analysts' consensus estimates of 13c. The company still expects Q4 revenues to increase approximately 10% over the year-ago period, versus analysts' estimates $327.17M. The company cited gross margin pressure from foreign currency exchange rates for the weak forecast. Additionally, Deckers lowered its FY15 EPS view to $4.58 from $4.71, well short of the consensus of $4.77. The company also cut its FY15 revenue outlook to approximately $1.8B, down from the previous guidance of approximately $1.825B, trailing analysts' consensus estimates of $1.83B. Deckers now sees FY15 UGG Brand revenues up approximately 11% over last year, down from previous guidance of approximately 14%, and sees FY15 Teva and Sanuk brand revenues up low double digits over the year-ago period. The FY15 guidance assumes a gross profit margin of approximately 49%, an operating margin of approximately 12.5% compared to previous guidance of approximately 13% and an effective tax rate of approximately 27% compared to previous guidance of 29%. ANALYST REACTION: This morning, analyst commentary was mixed. Research firm Telsey Advisory downgraded Deckers Outdoor to Market Perform from Outperform following the Q3 report due to the UGG shortfall and lack of near-term catalysts. Telsey also lowered its price target on the shares to $80 from $98. Conversely, Jefferies said Deckers’ risk/reward is favorable at current levels. Jefferies said it continues to view Deckers Outdoor as a "compelling investment opportunity" despite the Q3 sales miss. It believes the UGG brand is "still a winner" and that the company has lots of opportunity to expand margins. The firm lowered its price target for Deckers’ shares to $110 from $130 and kept a Buy rating on the name. Susquehanna, which has a Positive rating but lowered its price target to $83 from $117, believes the weakness in Deckers Outdoor shares is overdone. The firm sees a stock buyback as a possible near-term catalyst, as well as the potential for a dividend as supporting the shares. PRICE ACTION: In late morning trading, Deckers Outdoor fell $15.05, or about 18.3%, to $67.22 on nearly six times its average daily trading volume. Including today’s pullback, the stock has lost approximately 13% over the past twelve months. OTHERS TO WATCH: Other casual apparel/footwear makers include Skechers USA (SKX), down 2%, Wolverine World Wide (WWW), down 2.16%, Rocky Brands (RCKY), down 2.85%, and Crocs (CROX), down 0.75%.
09:07 EDTDGDollar General reinstated with a Buy at Goldman
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January 26, 2015
07:42 EDTDGDollar General reinstated with an Underperform at BofA/Merrill
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January 23, 2015
07:46 EDTDGDollar General CEO stays until 2016, may seek smaller acquisitions, Reuters says
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January 22, 2015
09:43 EDTDGActive equity options trading
Active equity options trading according to Track Data: AAPL DG ABX AMZN FXCM LVS FFIV INFI SD
09:25 EDTDGFamily Dollar shareholders approve Dollar Tree merger
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09:24 EDTDGFamily Dollar shareholders approve Dollar Tree merger
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09:24 EDTDGDollar General says focused on core business
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09:24 EDTDGDollar General says 'well positioned' for sustainable growth
09:23 EDTDGDollar General says Rick Dreiling to continue as chairman and CEO
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09:22 EDTDGDollar General says Rick Dreiling to continue as chairman and CEO
09:21 EDTDGFamily Dollar holders approve Dollar Tree deal, Bloomberg reports
Family Dollar (FDO) shareholders approved today the buyout offer from Dollar Tree (DLTR), Bloomberg reports.
06:05 EDTDGFamily Dollar investors expected to approve Dollar Tree deal, NY Post reports
Family Dollar (FDO) investors are poised to approve Dollar Tree's (DLTR) $8.5B cash and stock takeover offer at a meeting today, The New York Post reports. Reference Link
January 21, 2015
13:38 EDTWMTEarnings Preview: eBay shares rise over 5.5% since last earnings report
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10:01 EDTWMTOn The Fly: Analyst Downgrade Summary
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06:52 EDTWMTWal-Mart downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley downgraded Wal-Mart to Equal Weight citing balanced risk/reward and lack of margin growth due to potential re-investments.
January 20, 2015
13:01 EDTWMTWal-Mart launches cash pickup option for tax refunds
As Americans begin to file their tax returns, Walmart (WMT) announced the launch of a first-of-its-kind service that allows consumers to “skip the check” and pick up their tax refunds in cash. Walmart Direct2Cash is available nationwide starting today and will help customers save time and money when compared to traditional tax refund options. Walmart is working with Tax Products Group, a Green Dot Company (GDOT), and Republic Bank & Trust Company, member FDIC, two providers of tax-related financial products and services, to provide Walmart Direct2Cash as an option to millions of customers. The more than 25,000 tax preparation locations using software with the Walmart Direct2Cash option may provide this service for no additional fee or charge a maximum of $7 at the time of filing. Walmart does not charge customers a fee when refunds are claimed in a store.
09:44 EDTWMTSupreme Court denies appeal of 'swipe fee' ruling, Reuters reports
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