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News Breaks
August 18, 2014
11:25 EDTLL, HD, TSCO, LOWEarnings Preview: Home Depot shares up nearly 9% since last earnings report
Home Depot (HD), a home improvement retailer, is scheduled to report second quarter results before the market opens on Tuesday, August 19, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.45 on revenue of $23.62B, according to First Call. The consensus range for EPS is $1.41-$1.49 on revenue of $22.9B-$24.08B. LAST QUARTER: Home Depot reported first quarter EPS of $1.00 against estimates for 99c on revenue of $19.69B against estimates of $19.95B. The company said same-store sales increased 2.6%, with U.S. SSS up 3.3%. The company raised its fiscal year 2014 EPS view to $4.42 from $4.38 against estimates at that time for $4.42. The retailer also backed its FY14 sales growth view of up 4.8% from fiscal year 2013. On its Q4 earnings conference call, Home Depot forecast gross margins for FY14 would be "about the same" as last year. For the remainder of the year, the company said its view on the housing market recovery had not changed. NEWS: At Oppenheimer's 14th Annual Consumer Conference in June, Home Depot reaffirmed its 4.8% sales growth view for the year and said SSS growth would be 4.6%. The company also said it expected $7B in share repurchases for FY14. The retailer also said it intends to increase its dividend every year. The Wall Street Journal said Home Depot is among the retailers betting that consumer basics, like toilet paper or detergent, will increase sales and lure shoppers into stores. STREET RESEARCH: Citigroup expects Home Depot shares will continue outperforming Lowe's (LOW) in the near-term given its store base concentration and better merchandising effort on the Pro side. Deutsche Bank lowered its estimates for both Home Depot after Tractor Supply (TSCO) and Lumber Liquidators (LL) pre-announced Q2 comp misses. The firm, which noted that the negative earnings revision is "relatively minor," said that while the business models are different, Tractor Supply and Lumber Liquidators have historically correlated positively with Home Depot and Lowe's on comps. PRICE ACTION: Over the last three months, Home Depot shares are up almost 9%. Year-to-date, shares are up over 2%.
News For HD;LOW;TSCO;LL From The Last 14 Days
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March 25, 2015
11:39 EDTLLCPSC announces active investigation of Lumber Liquidators
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10:26 EDTLLLumber Liquidators trading up sharply from session lows, levels to watch
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10:24 EDTLLLumber Liquidators up over 10% as CPSC call continues
The Consumer Product Safety Commission said it is actively investigating Lumber Liquidators, but will not use CARB-mandated testing of Lumber Liquidators flooring during its own investigation. CPSC Chairman Elliot Kaye reportedly said its investigation is "exclusive to Lumber Liquidators" for now, but could expand to other companies if information warrants. Kaye also reportedly said the options for Lumber Liquidators could include a recall and that CPSC would have to sue to enforce if voluntary recall is found to be needed but is not agreed to by the company. Lumber Liquidators shares are up 10.7% to $31.90 as the CPSC's call continues.
10:18 EDTLLCPSC says calls on Lumber Liquidators down 80% since right after 60 Minutes
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10:15 EDTLLCPSC chair says commission has 'different madate' than CARB
The CPSC will not use CARB-mandated testing of Lumber Liquidators flooring, the commission's chair stated on a call with the media.
10:11 EDTLLLumber Liquidators probe to take 'months, not weeks,' CPSC chair says
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10:06 EDTLLCPSC says actively investigating Lumber Liquidators, Bloomberg reports
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09:51 EDTLLLumber Liquidators March weekly 30 straddle priced for 13% movement
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09:15 EDTLLLumber Liquidators volatility elevated, CPSC planning teleconference CNBC
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08:21 EDTLLRegulator to hold Lumber Liquidators teleconference at 10:00, CNBC says
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March 24, 2015
07:27 EDTHDTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
05:49 EDTLLStocks with implied volatility movement; LL YUM
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March 23, 2015
09:09 EDTLLLumber Liquidators probe called for by Senator Schumer, AP reports
New York Sen. Chuck Schumer is asking federal authorities to investigate the safety of Lumber Liquidators' Chinese-imported wood laminate flooring and force recalls if needed, reported Associated Press. Reference Link
March 20, 2015
16:31 EDTLOWLowe's announces new $5B share repurchase program
Reflecting its commitment to return excess cash to shareholders, the Board of Directors for Lowe's Companies has authorized a new repurchase program of $5B of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $2.4B as of January 30.
06:08 EDTLLStocks with implied volatility below IV index mean; LL YELP
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March 18, 2015
10:18 EDTLOWEvercore ISI to hold a summit and tour
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09:36 EDTHDActive equity options trading on open
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March 17, 2015
08:00 EDTLLLumber Liquidators price target lowered to $40 from $55 at Credit Suisse
Credit Suisse lowered Neutral rated Lumber Liquidators price target to $40 and reduced estimates to reflect weaker sales trends and uncertainty on how consumers will respond to the fallout over safety concerns. The firm does not believe the sales drop has to be permanent if sales associates can respond to safety concerns effectively and there is more domestic sourcing.
March 16, 2015
05:53 EDTLLStocks with implied volatility movement; XLE LL
Stocks with implied volatility movement; Energy Select Sector SPDR (XLE) 28, Lumber Liquidators (LL) 109 according to iVolatility.
March 15, 2015
17:32 EDTLLU.S. trade association recommends avoiding Lumber Liquidators, Reuters says
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