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Stock Market & Financial Investment News

News Breaks
January 10, 2014
05:36 EDTFDO, SHLD, LB, GPSLow-end retailers struggle as customers remain pressured, WSJ reports
As the outlook for the U.S. economy has improved, the results show that the slightly rising tide isn't lifting all boats. Retailers catering to lower income consumers had a rough holiday. Those shoppers remain under pressure from tepid job growth, stagnant wages, higher payroll taxes and the loss of government assistance programs like food stamps, reports the Wall Street Journal.Reference Link
News For FDO;SHLD;LB;GPS From The Last 14 Days
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October 9, 2014
05:45 EDTSHLDStocks with implied volatility movement; WLT SHLD
Stocks with implied volatility movement; Walter Energy (WLT) 159, Sears (SHLD) 108 according to iVolatility.
05:38 EDTGPSGap downgraded to Market Perform from Outperform at Wells Fargo
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October 8, 2014
18:31 EDTGPSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ruby Tuesday (RT), up 19.6%... Exar (EXAR), up 13.7% after reporting second quarter revenue guidance... Alcoa (AA), up 2.2%. ALSO HIGHER: Nuance (NUAN), up 2.5% following rumors that Carl Icahn will recommend that Apple (AAPL) buy the company... GrubHub (GRUB), up just under 1% after being initiated with a Buy at CRT Capital. DOWN AFTER EARNINGS: Kofax (KFX), down 20.1% after reporting first quarter revenue and fiscal 2015 revenue guidance below analyst estimates... ARC Group (ARCW), down 17%... E2open (EOPN), down 8.9%. ALSO LOWER: Gap (GPS), down 7.6% following September same store sales data and CEO transition... AMD (AMD), down 7% after announcing CEO transition.
16:50 EDTGPSGap CEO Glenn Murphy says board planned CEO succession
Gap's outgoing chairman and CEO Glenn Murphy stated that the CEO transition to Art Peck was planned in advance and was a part of the company's growth plan. Murphy stated that the board asked him to stay but he is not able to make a personal commitment to be at the company to execute long-term plans. Murphy says he will work closely with Peck during the transition period. Comments made during CEO transition conference call.
16:08 EDTGPSGap trades sharply lower in the extended session
The stock is down over 8% to $38.49 in the after hours market. At that price next support is at $37.25. Resistance is at $39.48.
16:05 EDTGPSGap reports September net sales up 1% vs. last year
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16:03 EDTGPSGap names Art Peck to succeed Glenn Murphy as CEO
Gap Inc. announced that Art Peck, the president of its Growth, Innovation and Digital division, has been selected by the board to succeed Glenn Murphy as the company’s next CEO, effective February 1, 2015. Murphy made the personal decision to retire from the company at the end of the fiscal year, allowing for a smooth leadership transition. Peck joined the company in 2005. As part of the transition, Bob Fisher will become non-executive Chairman of the board, and Peck will join the board, effective February 1, 2015.
16:01 EDTGPSGap names Art Peck to succeed Glenn Murphy as CEO
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15:25 EDTFDONotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include PepsiCo (PEP), consensus $1.29; Family Dollar (FDO), consensus 77c; Lindsay (LNN), consensus 57c.
13:43 EDTSHLDDepartment stores fall after J.C. Penney cuts view due to difficult environment
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12:40 EDTSHLDSears says meeting obligations, has 'ample inventory and liquidity'
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12:36 EDTSHLDSears calls recently published article 'misleading'
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12:35 EDTSHLDSears says 'has financial flexibility' and is 'meeting its obligations'
12:25 EDTSHLDOn The Fly: Midday Wrap
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10:38 EDTSHLDHigh option volume stocks
High option volume stocks: FRAN RMTI ACM CY CLNY SMH BEAV SIG CTB DUG SHLD
10:24 EDTSHLDSears vendor to withhold products, Bloomberg reports
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10:23 EDTSHLDSears Holdings volatility spikes after Bloomberg says vendor to halt shipments
Sears Holdings October weekly call option implied volatility is at 200 above a level of 100 from the open, October is at 127, November is at 88, December is at 78, March is at 68; compared to its 26-week average of 54 according to Track Data, suggesting large near term price movement after Bloomberg says vendor to halt shipments.
10:11 EDTSHLDSears drops 9% after Bloomberg says vendor to halt shipments
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06:16 EDTSHLDSears Holdings volatility elevated
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October 7, 2014
11:34 EDTLBChristopher & Banks plummets after cutting Q3 revenue outlook
Shares of specialty women's apparel retailer Christopher & Banks (CBK) are sinking after the company lowered its third quarter revenue outlook. WHAT'S NEW: This morning, Christopher & Banks lowered its Q3 revenue outlook to $114M-$118M from its previous guidance of $122M-$124, trailing the consensus of $123.98M. The company also cut the top end of its Q3 margin forecast, lowering its margin growth outlook to 75-100 basis points from its prior view of 75-125 bps. SG&A dollars for the quarter are expected to be approximately $33.5M-$34M, below its prior guidance of $34M-$34.5M. Christopher & Banks expects its inventory at the end of the quarter will remain higher than the comparable prior year period on a dollar per square foot basis, but at a level lower than at the end of Q2, due to planned higher levels of core inventory. WHAT'S NOTABLE: The company believes sales have been negatively impacted by continued softness in mall traffic and lower than expected sales from its September fashion show. The company noted that the demand for fashion merchandise exceeded planned inventory levels, due to late receipts associated with the West Coast port disruptions. President and Chief Executive Officer LuAnn Via said in a statement, "We believe that the continued softness in traffic trends, coupled with the difficult overall retail environment, have adversely affected our sales as compared to our initial expectations for the quarter." She said the firm assumes promotional activity will continue to be aggressive and that the current environment will continue to be challenging, creating continued pressure on sales and margins. PRICE ACTION: In late morning trading, Christopher & Banks fell $2.69, or about 30%, to $6.40 on nearly four times its average daily trading volume. Despite today's pull-back, the shares have only lost approximately 2% over the past 12 months. OTHERS TO WATCH: Other specialty women's retailers include Chico's FAS (CHS), down 1.28%, Ann Inc. (ANN), down 2.1%, and L Brands (LB), down 1.13%.
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