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Stock Market & Financial Investment News

News Breaks
March 14, 2014
12:31 EDTGIS, ULTA, CTB, CELG, GMCR, ARO, SBUXOn The Fly: Midday Wrap
Stocks on Wall Street traded in a narrow band on either side of the flat-line in the early going, as the news flow continues to be dominated by developments between Russia and Ukraine. Stocks opened in quiet fashion and moved to the upside early in the session. The market was unable to hold its gains, however, and reversed course following a report that indicated that consumer sentiment has fallen this month. The averages crossed back into positive territory right before noon, but the market has remained in a narrow range throughout the morning's swings. ECONOMIC EVENTS: In the U.S., producer prices fell 0.1% overall in February, versus an expected increase of 0.2%. The core reading, which excludes food and energy, fell 0.2%, versus an expected increase of 0.1%. The Reuters/University of Michigan Consumer Sentiment Survey for March unexpectedly dropped to a four-month low of 79.9. The preliminary reading for the month was expected by analysts to have come in at 81.8, which would have been a slight bump from the prior 81.6 figure. In Europe, one person reportedly died and several were injured after violent clashes in the Ukrainian city of Donetsk amid demonstrations from those opposed to Russia’s military intervention in Crimea. Also, reports indicated the Russian military conducted another military exercise near Ukraine on Thursday. COMPANY NEWS: Shares of single-serve coffee machine maker Keurig Green Mountain (GMCR) rose nearly 9% after the company agreed to new terms in its deal with coffee giant Starbucks (SBUX). Research firm Buckingham said its views Keurig's amended deal with Starbucks as a positive event for both companies. The new agreement lets Keurig pursue additional premium unlicensed brands and provides Starbucks an opportunity for better margins, said the firm... Shares of teen retailer Aeropostale (ARO) fell almost 14% after its fourth quarter results and first quarter outlook missed analysts' consensus expectations. The retailer also entered a financing deal with private equity firm Sycamore Partners for a strategic partnership and $150M in senior secured credit facilities. Aeropostale will also issue convertible preferred stock to Sycamore that gives the firm the right to acquire up to 5% of the company's common stock at an exercise price of $7.25, the closing price of the company's common stock on March 12. MAJOR MOVERS: Among the notable gainers was beauty retailer Ulta Salon (ULTA), which advanced over 7% after the company’s fourth quarter results beat estimates. Also higher following its quarterly earnings report was tire maker Cooper Tire & Rubber (CTB), which rose nearly 8%. Among the noteworthy losers was Celgene (CELG), which dropped almost 3% after the U.K.'s healthcare guidance body issued new draft guidance on the use of the company's Revlimid drug. Also lower were shares of cereal and packaged foods maker General Mills (GIS), which slid 2% after the company warned its third quarter earnings could miss expectations. INDEXES: Near midday, the Dow was up 1.15, or 0.01%, to 16,110.04, the Nasdaq was up 1.74, or 0.04%, to 4,262.16, and the S&P 500 was virtually unchanged at 1,846.36.
News For GMCR;SBUX;ARO;ULTA;CELG;CTB;GIS From The Last 14 Days
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January 23, 2015
07:05 EDTSBUXStarbucks results likely to stay solid for rest of fiscal 2015, says Wells Fargo
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06:58 EDTSBUXStarbucks remains a top investment idea at Piper Jaffray
Piper Jaffray says Starbucks remains one of its top investment recommendations after the company reported "strong" Q1 results. Piper believes the coffee retailer's core business fundamentals remain "highly attractive." It reiterates an Overweight rating on the stock with a $100 price target.
January 22, 2015
18:28 EDTSBUXOn The Fly: After Hours Movers
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18:05 EDTSBUXStarbucks says Q1 performance was 'exceptional'
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17:34 EDTSBUXStarbucks sees FY15 EPS outlook $3.09-$3.13, consensus $3.13
Reaffirms FY15 revenue growth outlook 16%-18% and global comparable store sales growth of mid-single digits. Non-GAAP operating margin is expected to be flat to slightly up over prior year non-GAAP operating margin. Still sees new store openings of 1,650.
17:31 EDTSBUXStarbucks sees 1H15 EPS at lower end of range
Sees 2H15 EPS at higher end of range. Sees FY15 EPS $3.09-$3.13, consensus $3.13. Expects EPS to grow as year progresses.
17:25 EDTSBUXStarbucks names Kevin Johnson as COO
On January 22, Starbucks (SBUX) announced the appointment of Kevin Johnson as president and COO. Johnson ceased membership on all Starbucks board committees prior to his appointment as president and COO. He will remain a member of the Starbucks board of directors, which he joined in March 2009, and is expected to start in his new role effective March 1. Johnson, currently a non-employee director of the company, served as CEO of Juniper Networks (JNPR) from September 2008 to December 2013.
16:08 EDTSBUXStarbucks jumps 3% to $85.30 following Q1 results
16:04 EDTSBUXStarbucks sees Q2 EPS 64c-65c, consensus 68c
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16:04 EDTSBUXStarbucks reports Q1 EPS 80c, consensus 80c
Reports Q1 revenue $4.8B, consensus $4.80B. Global comparable store sales increased 5%, with a 2% increase in traffic. Comparable store customer transactions increased by nearly 9M in the U.S., nearly 12M globally, year-over-year. The company opened 512 net new stores in Q1.
15:32 EDTSBUXNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Starbucks (SBUX), consensus 80c; Capital One (COF), consensus $1.74; Intuitive Surgical (ISRG), consensus $4.38; KLA-Tencor (KLAC), consensus 52c; Altera (ALTR), consensus 35c; E-Trade (ETFC), consensus 23c... ResMed (RMD), consensus 62c; Maxim Integrated Products (MXIM), consensus 30c; Maxim Integrated Products (MSCC), consensus 65c; Hexcel (HXL), consensus 54c; Polycom (PLCM), consensus 23c; Skyworks (SWKS), consensus $1.19; Curtiss-Wright (CW), consensus $1.00.
14:58 EDTSBUXStarbucks January weekly 82 straddle priced for 3.1% movement into Q1
12:31 EDTSBUXEarnings Preview: Starbucks sees Q1 adjusted EPS 79c-81c
Starbucks (SBUX) is scheduled to report first quarter results after the market close on Thursday, January 22, with a conference call scheduled for 5:00 pm ET. Starbucks purchases and roasts whole bean coffees and sells them, along with brewed coffees, Italian-style espresso beverages, cold blended beverages, food items, teas, and beverage-related accessories and equipment, primarily through company-operated retail stores. EXPECTATIONS: Analysts are looking for earnings per share of 80c on revenue of $4.8B, according to First Call. The consensus range for EPS is 78c-81c on revenue of $4.63B-$4.93B. LAST QUARTER: Starbucks reported fourth quarter adjusted EPS of 74c on revenue of $4.2B, in-line with estimates for 74c and $4.23B, respectively. Starbucks said global comparable store sales increased 5%. Looking ahead, the company forecast Q1 adjusted EPS 79c-81c and guided fiscal year 2015 EPS to $3.03-$3.13 against estimates at that time for $3.16. The company sees FY15 revenue growth of 16%-18%, including over $1B in incremental revenue from the planned acquisition of Starbucks Japan, against estimates at that time for $18.43B. Global comparable store sales growth was targeted in the mid-single digits. NEWS: In November, the European Union said the tax deal struck by Starbucks in the Netherlands amounts to illegal state aid, reported the Wall Street Journal. At its December Investor Day, Starbucks projected that revenue will approach $30B in fiscal year 2019, up from $16B in fiscal year 2014. Additionally, the company announced the launch of "Mobile Order & Pay," which allows customers to place orders in advance of their visit, and to pick up their ready order at their preferred Starbucks store, and also announced plans for food and beverage delivery. The company sees mobile ordering driving transactions and said it was exploring two different delivery models to launch in mid-to-late 2015. Starbucks' partnership with Square for use in mobile device payments also ended and the company replaced Tazo tea in its outlets with products from Teavana. During the quarter, Starbucks said that Chief Operating Officer Troy Alstead, a 23-year veteran of the company who also served for many years as the company's Chief Financial Officer, as well as leading the operations and development of Starbucks international business and its Europe, Middle East and Africa business unit, would take an extended unpaid leave from the company; his last day at his current role will be March 1. STREET RESEARCH: Piper Jaffray says it would be a buyer of Starbucks on any sell-off following the news of COO Alstead taking a leave of absence and said its fundamental thesis on the stock is unchanged and that Starbucks remains a top pick. William Blair thinks the near-term could "prove a bit rocky" for Starbucks investors given the departure of the "well-liked" COO and the potential slowing of domestic sales trends. The firm lowered its Q1 comp projection to 4%, below the consensus of 5%, citing a lower sales forecast in the Americas. Bernstein kept a $99 price target and Outperform rating on Starbucks after COO Alstead announced his leave of absence. Janney Capital cut its rating on the stock to Neutral from Buy, citing concerns about the company's near-term sales outlook. PRICE ACTION: Over the last three months, Starbucks shares are up almost 10%. Ahead of tonight's earnings report, shares are down about 0.7% to $81.86.
11:47 EDTSBUXStarbucks technical notes ahead of earnings
There is a potential bullish symmetrical triangle on the daily chart that could become active after earnings if price breaks out above $82.50. What makes the pattern bullish is the preceding uptrend. Upside potential for this pattern is to the $90 area, which would be a fresh lifetime high. When pulling back to a very long-term chart (10-year) the current pattern is visible, but part of a much larger bullish symmetrical triangle which is already in progress. The minimum objective from that pattern is also to the $90 area. While the current technical conditions are strongly bullish, there is always the prospect of pattern failure if the fundamentals fail to live up to bullish expectations. The downside reaction from a negative surprise could be equal in scale to the upside on a positive one. The bottom of the triangle pattern at the $78 area would be the first major support level for the shares. A breakdown below that support would void the pattern, with next support at $76.22.
10:03 EDTGMCROn the Fly: Analyst Downgrade Summary
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09:39 EDTGMCRKeurig Green Mountain downgraded to Neutral at Consumer Edge Research
08:04 EDTCTBChinese anti-dumping tariffs positive for tire companies, says Deustche Bank
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07:43 EDTCTBGoodyear rises after U.S. sets dumping margins on Chinese tire makers
The U.S. Department of Commerce announced its affirmative preliminary determination in the antidumping duty investigation of imports of certain passenger vehicle and light truck tires from the People’s Republic of China. Commerce preliminarily determined that imports of certain passenger vehicle and light truck tires from China have been sold in the U.S. at dumping margins ranging from 19.17% to 87.99%. Mandatory respondents Giti Tire Global Trading and Sailun Group received preliminary dumping margins of 19.17% and 36.26%, respectively. All other producers/exporters in China received a preliminary dumping margin of 87.99%. Shares of Goodyear Tire (GT) are up 1.7% in pre-market trading following the determination, while Cooper Tire (CTB) is up 0.7%.
07:32 EDTSBUXStarbucks January weekly volatility elevated into Q1 and outlook
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January 21, 2015
08:36 EDTCELGCelgene price target raised to $139 from $115 at RW Baird
Baird raised its price target on Celgene to $139 from $115 following last week's guidance from the company. Baird reiterated its Outperform rating on Celgene shares.
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