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November 28, 2012
12:19 EDTKCG, BP, ANN, JOSB, GMCR, GES, AEO, TFM, COST, ARO, EXPROn The Fly: Midday Wrap
Stocks on Wall Street were lower for much of the morning before recovering significantly near midday. Just as a late day sell-off yesterday was prompted by some cautious fiscal cliff commentary from a notable politician, today's turn-around was sparked by optimism from one. In today's case, the averages turned following comments from House Speaker John Boehner, who said he's "optimistic" a deal with Obama can be reached and that he is willing to put revenues on the table if accompanied by spending cuts... ECONOMIC EVENTS: In the U.S., new single-family home sales fell 0.3% in October to a seasonally adjusted 368,000-unit annual rate. Also, the government revised sharply lower its estimate for the prior month's sales, cutting its estimate for sales in September by 20,000 to a 369,000-unit rate. The EIA reported crude oil inventories drew down by 347,000 barrels last week, versus expectations for a 350,000 barrel build up. In Europe, Spainís bank restructuring was approved, paving the way for euro zone aid to be disbursed... COMPANY NEWS: The Environmental Protection Agency announced BP (BP) will be suspended from winning new contracts from the federal government until the oil major can demonstrate it meets business standards set by the U.S., though the action does not affect existing contracts. Shares of BP fell about 0.7% near noon... Several apparel retailers reported better than expected results and saw their shares advance, including Express (EXPR), American Eagle Outfitters (AEO) and Ann Inc. (ANN). This may or may not bode well for some of their peers expected to report after the bell, including Aeropostale (ARO) and Guess (GES)... Costco (COST) shares rose over 4% after reporting its November same store sales rose 6% and declaring a $7 per share special dividend... MAJOR MOVERS: Among the notable gainers was Green Mountain Coffee Roasters (GMCR), which soared 24% after its better than expected earnings and guidance set off a wave of price target increases around the Street. Also higher were shares of Knight Capital (KCG), which rose 14% to $3.39 after shareholder Getco proposed a complex takeover bid that values shares at $3.50 apiece but involves a cash component and a share dispersal following a merger. Among the noteworthy losers was The Fresh Market (TFM), down 14% after its CFO unexpectedly resigned to take another position and its shares were downgraded at Deutsche Bank and Northcoast. Also lower were shares of Jos. A Bank (JOSB), down 7% after it was unable to participate in the rally among clothing retailers as its revenue beat consensus but its earnings fell short... INDICES: Near noon, the Dow was up 16.36, or 0.13%, to 12,894.49; the Nasdaq was down 2.31, or 0.08%, to 2,965.48; and the S&P 500 was down 0.88, or 0.06%, to 1,398.06.
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January 13, 2015
08:43 EDTAEOAmerican Eagle has reached positive turning point, says BMO Capital
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08:20 EDTTFMThe Fresh Market downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded The Fresh Market to Neutral citing increased risks following the departure of CEO Craig Carlock.
05:42 EDTCOSTCostco downgraded to Neutral from Buy at Goldman
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January 12, 2015
16:30 EDTTFMThe Fresh Market reaffirms FY14 EPS $1.56-$1.64, consensus $1.58
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16:20 EDTTFMThe Fresh Market CEO Craig Carlock resigns, COO Sean Crane to succeed
The Fresh Market announced that the board appointed Sean Crane, executive VP and COO, as Interim CEO, effective immediately. Craig Carlock, president and CEO, and a member of the board, has left the company and has resigned as a member of the board. The companyís board has retained a national executive search firm to assist in identifying and evaluating candidates for the position of president and CEO.
14:51 EDTBPSaudi Prince Alwaleed says oil won't hit $100 again, USA Today reports
Oil will never reach a price of $100 per barrel again, Saudi billionaire businessman Prince Alwaleed bin Talal said, according to USA Today. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
11:52 EDTEXPRExpress says consumers 'came out with enthusiasm' in last two weeks of December
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10:58 EDTAEOAmerican Eagle says expects to end year with cash around $400M
10:40 EDTAEOAmerican Eagle repeats Q4 EPS view 32c-34c, 25% growth vs. last year's Q4
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09:34 EDTBPActive equity options trading
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09:30 EDTEXPROn The Fly: Pre-market Movers
HIGHER: Foundation Medicine (FMI) up 138.9% following transaction with Roche (RHHBY)... Celator Pharmaceuticals (CPXX), up 19.1% after announcing promising Phase 2 data for CPX-351... Second Sight (EYES), up 16.7% after Health Canada approves Argus II retinal prosthesis system... Aegerion (AEGR), up 7.8% after reporting preliminary fourth quarter results and guidance... Express (EXPR), up 4.5% after reporting preliminary fourth quarter results. NOTABLE: NPS Pharmaceuticals (NPSP), up 8.5% following acquisition by Shire (SHPG)... Shire is down 1.1% in pre-market trading. LOWER: Arrowhead (ARWR), down 20.9% after FDA clears company to begin modified study of ARC-520 in a preliminary call of a partial clinical hold... Tiffany (TIF), down 10.4% after lowering fiscal 2014 net EPS guidance... SanDisk (SNDK), down 10.1% after lowering fourth quarter outlook... Ascena Retail (ASNA), down 5.8% after lowering fiscal 2015 adjusted EPS view... Sarepta Therapeutics (SRPT), down 5.9% after reporting long-term outcomes from Phase IIb Eteplirsen study... Loral Space & Communications (LORL), down 3.6% following a NY Post article that reported that talks to sell itself to the Ontario Teachersí Pension Plan have ended... Southwestern Energy (SWN), down 4.2% after filing to sell 20.3M shares of stock and 26M depository shares.
09:26 EDTANNUBS events at 17th Annual ICR XChange Conference
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09:19 EDTANNMorgan Stanley events at 17th Annual ICR XChange Conference
Company Meetings to be held at the 17th Annual ICR XChange Conference in Orlando, Florida on January 12-13.
09:08 EDTGESJefferies Events at 17th Annual ICR XChange Conference
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07:26 EDTEXPRWedbush to hold a meetings at ICR XChange Conference
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06:06 EDTEXPRExpress raises FY14 EPS view to 74c-77c from 69c-76c
Full year comparable sales are now expected to decline in the mid-single digit range, compared to the company's previous guidance of a mid to high single digit decline.
06:04 EDTEXPRExpress raises Q4 EPS view to 43c-46c from 38c-45c
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06:04 EDTEXPRExpress lowers Q4 SSS view to down 3%-4% from mid to high single digit decline
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January 11, 2015
20:35 EDTBPGoldman Sachs sees oil bottoming in Q2 at $42/barrell
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18:54 EDTBPCourt refuses to hear BP appeal for Deepwater Horizon liability, NY Times says
BP's (BP) request for a federal appeals court to reconsider its 2014 ruling that the company remains liable of federal penalties for the Deepwater Horizon spill in 2010 was denied, reports the New York Times. A trial will take place this month to determine BP's and Anadarko Petroleum's (APC) penalties for violation of the Clean Water Act, the Times adds. Reference Link
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