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Stock Market & Financial Investment News

News Breaks
March 18, 2014
20:25 EDTFDX, FDX, GIS, GIS, KBH, KBH, VRA, VRANotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include FedEx (FDX), consensus $1.48; General Mills (GIS), consensus 64c; KB Home (KBH), consensus 8c; Vera Bradley (VRA), consensus 46c.
News For FDX;GIS;KBH;VRA From The Last 14 Days
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September 24, 2014
11:38 EDTKBHKB Home says disappointed in performance of closings in Q3
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11:35 EDTKBHKB Home says gaining momentum in community count
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08:38 EDTKBHKB Home drops 3% to $16.49 after Q3 results miss estimates
KH Home (KBH) peers include Beazer Homes (BZH), D.R. Horton (DHI), Hovnanian (HOV), Lennar (LEN), M.D.C. Holdings (MDC), PulteGroup (PHM), Ryland Group (RYL) and Toll Brothers (TOL).
08:36 EDTKBHKB Home reports potential future housing revenues in backlog up 37%
KB Home said potential future housing revenues in backlog at August 31 grew 37% to $1.1B from $808.5M at August 31, 2013. The companyís backlog at August 31 was comprised of 3,432 homes, up 13% from 3,039 homes in backlog at August 31, 2013. Net orders increased 5% in Q3 to 1,827, up from 1,736 for the year-earlier quarter.
08:34 EDTKBHKB Home reports Q3 EPS 28c, consensus 40c
Reports Q3 revenue $589.2M, consensus $646.76M. The company delivered 1,793 homes in the third quarter, compared to 1,825 homes delivered in the year-earlier quarter. KB said deliveries in the quarter were tempered by delays in construction schedules and customer mortgage loan closings that resulted in some deliveries being deferred to Q4. The overall average selling price rose 9% to $327,000.
September 23, 2014
15:36 EDTKBHKB Homes calls active into Q3 and outlook
KB Homes October and November 17 calls are active into Q3. October call option implied volatility is at 35, November is at 30, January is at 30, April is at 32; compared to its 26-week average of 33 according to Track Data, suggesting non-directional price movement into the expected release of Q3 results on September 24.
15:27 EDTKBHNotable companies reporting before tomorrow's open
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15:07 EDTKBHKB Home technical comments before results
In the past three months returns have been lower than the broader averages, falling by over 2.5%. The trend has been down to sideways in a range largely bounded by $18.50 at the high and $16.50 at the low. Those ranges may help us navigate post-earnings price reactions. A move lower on worse than expected news that breaks the range low at $16.50 might have bearish implications for price thereafter. In the past two years, the $16 level has held as support. Any news which could break that support could lead to further price weakness. Additional downside support would be at $15.16 , $14.32, and $13.19. If the news is positive and exceeds current expectations, we could see a run back to the top of the range at $18.50. On progressively stronger news or outlook, the following resistance levels could become additional upside objectives: $19.34, and $20.78 which is the 52-week high.
September 22, 2014
09:08 EDTGISGeneral Mills commences tender offer for Annie's for $46 per share
General Mills (GIS) announced that its direct wholly owned subsidiary, Sandy Acquisition Corporation, has commenced its previously announced tender offer for all outstanding shares of common stock of Annie's (BNNY) at a price of $46.00 per share, net to the seller in cash, without interest and less required withholding taxes. The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of September 8, 2014, by and among General Mills, Sandy Acquisition Corporation and Annie's, Inc., which General Mills and Annie's announced on September 8, 2014. The board of Annie's has unanimously determined that the offer is fair and advisable and in the best interests of Annie's and its stockholders, and recommends that the stockholders of Annie's accept the offer and tender their shares. The tender offer is scheduled to expire at the end of the day on October 20, 2014, unless extended.
September 19, 2014
16:24 EDTFDXStocks rise after Fed keeps pledge for 'considerable time' before rate hike
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12:14 EDTKBHKB Homes volatility flat into Q3 and outlook
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10:28 EDTFDXOptions with decreasing implied volatility
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07:18 EDTFDXWeb.com to hold a summit
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06:29 EDTFDXFedEx says potential adverse court ruling could impact results
FedEx said in a filing that on August 27, the Ninth Circuit reversed the district court decisions and held that the plaintiffs in California and Oregon were employees as a matter of law. "While we do not agree with the courtís decision and will ask the court to reconsider and petition for en banc review by the full Ninth Circuit Court of Appeals, during the first quarter of 2015 we established an accrual for the estimated probable loss in this case that was required to be recognized pursuant to applicable accounting standards. This amount was immaterial. Material exposure above the accrued amount, however, is reasonably possible, and accordingly we have undertaken a process to attempt to estimate a range of reasonably possible loss based on currently available information relating to the case. This process has included attempting to evaluate what facts may arise in the course of discovery and what legal rulings the courts may render and how these facts and rulings might impact FedEx Groundís loss. For a number of reasons, we are not currently able to estimate a range of reasonably possible loss in excess of the amount accrued. With respect to the matters that are pending outside of the Ninth Circuit, it is reasonably possible that potential loss in some of these lawsuits or changes to the independent contractor status of FedEx Groundís owner-operators could be material. We have undertaken a process to attempt to estimate a range of reasonably possible loss based on currently available information relating to these cases. We are not currently able to estimate a range of reasonably possible loss. We do not believe that a material loss is probable in these matters. In addition, we are defending contractor-model cases that are not or are no longer part of the multidistrict litigation. These cases are in varying stages of litigation, and we do not expect to incur a material loss in any of these matters."
September 18, 2014
17:31 EDTGISGeneral Mills pursuing several multi-year restructuring initiatives
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13:55 EDTFDXFedEx upgraded to Outperform from Peer Perform at Wolfe Research
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10:27 EDTFDXOptions with decreasing implied volatility
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08:38 EDTGISGeneral Mills weakness provides compelling opportunity, says BMO Capital
After General Mills reported lower than expected Q1 EPS, BMO Capital thinks the weakness was overdone and has created a compelling entry point for investors. The firm is upbeat about various strategies the company is employing, including growing its Small Planet Foods unit and accelerating its new product launches. It keeps a $56 price target and Outperform rating on the shares.
08:37 EDTFDXFedEx price target raised to $183 from $170 at RW Baird
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06:13 EDTFDXFedEx price target raised to $180 from $170 at Citigroup
Citigroup raised its price target for FedEx shares to $180 saying the company's "solid" Q1 results points to potential upside to FY15 estimates. Citi keeps a Buy rating on the stock.
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