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News Breaks
April 23, 2014
08:24 EDTBBY, LOW, HGG, HDAppliances may shift from tailwind to headwind this year, says Janney Capital
Janney Capital believes appliances, which were a strong category in 2013 for key sellers including Home Depot (HD), Lowe's (LOW), Best Buy (BBY) and h.h. gregg (HGG), could become a headwind later this year due to weak housing trends and tough comps. The firm thinks a housing slowdown would take a bigger toll on h.h. gregg and Lowe's due to their higher appliance exposure and believes Best Buy could take share in appliances as vendors try to balance sales across channels.
News For HD;LOW;BBY;HGG From The Last 14 Days
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November 17, 2014
14:25 EDTHDHome Depot technical notes ahead of earnings
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14:21 EDTHDEarnings Preview: Home Depot shares up over 17% since last earnings report
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09:36 EDTHDActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
08:41 EDTHDHome Depot November volatility elevated into Q3 and outlook
Home Depot November call option implied volatility is at 38, December is at 21, January is at 20; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 18.
07:54 EDTLOWLowe's price target raised to $68 from $60 at RW Baird
Baird raised its price target on Lowe's to $68 from $60 citing the company's firming sales, solid comps, and operational improvements. Baird reiterated its Outperform rating on Lowe's, which is scheduled to release its Q3 results on November 19.
07:39 EDTBBYBest Buy price target raised to $42 from $35 at Stifel
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07:05 EDTBBYBest Buy price target raised to $40 from $36 at RBC Capital
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November 14, 2014
17:07 EDTBBYSoros Fund Management gives quarterly update on stakes
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11:48 EDTBBYStocks with call strike movement; GILD BBY
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10:00 EDTHDOn The Fly: Analyst Downgrade Summary
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09:34 EDTHDHome Depot downgraded to Hold from Buy at Zelman
07:55 EDTHGGh.h. gregg says stores to open at 4p.m. on Thanksgiving Day
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07:36 EDTBBYBest Buy price target raised to $36 from $32 at UBS
UBS raised its price target on Best Buy to $36 from $32 ahead of its Q3 results. The firm sees a favorable near-term set-up, citing the company's cash balances, selection of premium products, and focused strategy of promotions deployment and expenses. UBS reiterates its Buy rating on Best Buy shares.
November 12, 2014
13:32 EDTHDEarnings Preview: J.C. Penney lowered Q3 SSS view, affirms FY14 metrics in Q3
J.C. Penney (JCP) is scheduled to report third quarter earnings after the market close on Wednesday, November 12, with a conference call scheduled for 4:30 pm ET. J.C. Penney operates about 1,100 retail stores and jcp.com. EXPECTATIONS: Analysts are looking for a loss per share of (80c) on revenue of $2.81B, according to First Call. The consensus range for EPS is (95c)-(54c) on revenue of $2.72B-$2.93B. LAST QUARTER: J.C. Penney reported second quarter adjusted EPS of (75c) against estimates for (93c), on revenue of $2.8B against estimates for $2.79B. Comparable store sales increased 6% for the quarter and online sales through jcp.com were up 16.7% from the year-ago period to $249M. On its Q2 earnings conference call, the company said that expected a "profitable" sales in the back-to-school season, adding that the company could see some "anomalies" in expense during Q3. NEWS: During the quarter, J.C. Penney announced the appointment of Marvin Ellison, EVP of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board, and succeed Myron E. Ullman, III as CEO of the company on August 1, 2015, at which time Ullman will become executive chairman of the board for a period of one year. At its analyst day in October, the retailer lowered its Q3 SSS view to low single digit growth from its previous view of mid single digit growth. J.C. Penney also warned investors that its September sales were weaker than expected. Despite lowering its SSS forecast, the retailer reaffirmed the rest of its quarterly guidance, including gross margins and SG&A expenses, and maintained all of its fiscal year 2014 guidance metrics, including mid-single digit SSS growth and positive free cash flow. STREET RESEARCH: Cleveland Research said J.C. Penney's challenging sales trends continued in October and is positioning to increase promotional activity during the holiday season. Wells Fargo, which has an Underperform rating on the stock, said that Ellison lacks expertise in apparel and accessories, where J.C. Penney is having a tough time. J.C. Penney shares could drop 35% if the company misses on sales growth estimates, Barron's said. PRICE ACTION: Over the last three months, J.C. Penney shares are down almost 20%. In morning trading today ahead of tonight's Q3 report, J. C. Penney's stock is up almost 6% to $7.61.
08:01 EDTHDHome Depot price target raised to $113 from $102 at Jefferies
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November 11, 2014
12:37 EDTLOWLowe's November volatility elevated into Q3 and outlook
Lowe's November call option implied volatility is at 28, December is at 22, January and April is at 18; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 19.
08:34 EDTBBYBest Buy to open over 1,000 stores at 5 pm local time on Thanksgiving
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07:09 EDTHDHome Depot November volatility elevated into Q3 and revenue outlook
Home Depot November call option implied volatility is at 24, December is at 20, January is at 18; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 18.
06:57 EDTBBYBest Buy November volatility elevated into Q3 and holiday outlook
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November 7, 2014
14:04 EDTBBYBest Buy November volatility elevated into Q3 and holiday outlook
Best Buy November call option implied volatility is at 52, December is at 40, January is at 38, March is at 36; above its 26-week average of 39 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 20.
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