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June 9, 2014
20:25 EDTPBY, PBY, RSH, RSH, HDS, HDS, BURL, BURL, SAIC, SAIC, FRAN, FRANNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include HD Supply Holdings (HDS), consensus 18c; Burlington Stores (BURL), consensus 22c; Science Applications International Corporation (SAIC), consensus 66c; Francesca's Holdings Corporation (FRAN), consensus 22c; Pep Boys (PBY), consensus 6c; and RadioShack (RSH), consensus (52c).
News For HDS;BURL;SAIC;FRAN;PBY;RSH From The Last 14 Days
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March 5, 2015
16:16 EDTSAICSAIC continues next phase of amphibious vehicle contract from Marine Corps
SAIC has been awarded a prime contract from the U.S. Marine Corps Program Executive Officer Land Systems to perform initial upgrades to 10 Assault Amphibious Vehicle prototypes. Following this, additional options, if exercised, will lead to developmental testing and low rate initial production delivering 52 vehicles for operational test and evaluation and to USMC units. This single-award, firm fixed-price contract builds upon SAIC's previously announced initial contract value of $16M for the engineering phase of the contract. This contract value has been increased by $53M in options exercised, bringing the total contract value to $69M. The total contract value, if all options are exercised, is approximately $194M over five years.
March 4, 2015
08:08 EDTBURLBurlington Stores price target raised to $63 from $55 at Cowen
Cowen raised its price target on Burlington Stores to $63 from $55 as they continue to view the off-price industry as one of the most attractive sectors in retail. Cowen maintained its Outperform rating on Burlington Stores shares.
March 3, 2015
10:22 EDTFRANGoldman sees weakness ahead for specialty apparel retailers
The stocks of specialty apparel retailers could drop sharply as a result of the cold February weather and bottlenecks at West Coast ports, Goldman Sachs wrote in a note to investors today. WHAT'S NEW: The cold February and port delays will probably cause specialty retailers to report lower than expected profits for the first half of 2015, Goldman analyst Lindsay Drucker Mann forecast. As a result of these factors, the inventories of companies in the sector will probably be backed up all the way to Easter, wrote Mann, adding that foreign exchange fluctuations are also likely to weigh on specialty retailers' profits. The analyst cut her rating on PVH Corp. (PVH) two notches to Neutral from Conviction Buy, predicting that the company's profits would take longer to recover than she previously believed. Among specialty retail stocks, Mann is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN), and Ann Inc. (ANN). She maintained Sell ratings on all three names. The analyst predicted that American Eagle's (AEO) stock could fall further, and maintained a Neutral rating on those shares. WHAT'S NOTABLE: On February 26, Morgan Stanley downgraded Abercrombie & Fitch, citing skepticism about the turnaround prospects of its international business and negative foreign exchange trends. The firm predicted that the company's fiscal 2015 EPS guidance would come in below expectations. However, two firms were recently upbeat on American Eagle, with BMO Capital identifying the company as its favorite name for spring, stating that it expects American Eagle to benefit from the 70s fashion trend. Also, BB&T recently initiated the stock with a Buy rating. PRICE ACTION: In early trading, PVH fell 1.4% to $105.23, Abercrombie & Fitch lost 1.6% to $24, Francesca's declined 2% to $14.62, Ann slid 1.1% to $35.36, and American Eagle lost 1% to $14.80.
05:57 EDTFRANPVH Corp. downgraded to Neutral from Conviction Buy at Goldman
Goldman Sachs downgraded PVH Corp. (PVH) to Neutral from Conviction Buy saying a cold February and port-related product delays in March will push out the company's earnings recovery. Goldman cut its price target for the owner of Calvin Klein and Tommy Hilfiger to $109 from $143. The stock closed Monday up 21c to $106.74. Within the Specialty Apparel space, Goldman is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN) and Ann Inc. (ANN), and it sees "fresh downside risk" to American Eagle (AEO). It says the weather and port issues could "throw cold water on the Specialty rally."
March 2, 2015
08:33 EDTPBYPep Boys announces Robert Nardelli joins board of directors
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06:40 EDTSAICSAIC to host conference call
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March 1, 2015
19:47 EDTSAICSAIC acquires Scitor for $790M in an all cash transaction
Science Applications International announced that it has entered into a definitive agreement to acquire intelligence community market leader Scitor Corp. for $790M in an all cash transaction from private equity firm Leonard Green & Partners. The SAIC Board of Directors has approved the transaction, which is expected to close in May 2015 and is subject to customary closing conditions. Under the terms of the agreement, SAIC will fund the transaction from increased borrowings and cash on hand. SAIC has secured a firm financing commitment and expects to put in place permanent financing. Following the close of the transaction, SAIC would have about a 3.6x debt to trailing 12 months pro-forma adjusted EBITDA level and a flexible balance sheet supported by continued strong free cash flow from the combined businesses. The combined pro-forma annual revenue of the two companies is $4.5B on a historical basis with adjusted EBITDA of $321M SAIC has identified annual pre-tax cost synergies of at least $20M. The transaction is expected to be EPS accretive in the first year excluding amortization of intangibles and approximately $15M of transaction costs. The transaction is expected to be generally neutral to earnings on a GAAP EPS basis in the first year, excluding transaction costs. The combined companies will have a population of approximately 14,500 employees.
February 25, 2015
10:12 EDTHDSHigh option volume stocks
High option volume stocks: WBAI HDS ICON NWBO RGR GFI RKT TJX RSG LC
February 23, 2015
14:05 EDTHDSEarnings Preview: Home Depot shares up over 14% since last earnings report
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07:51 EDTSAICSAIC awarded $62M task order by SPAWAR
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February 20, 2015
08:26 EDTRSHStandard General weighing bid to lead RadioShack out of bankruptcy, WSJ says
Hedge fund Standard General, which became the largest shareholder of now bankrupt RadioShack last year by taking a 9.9% stake, has discussed contributing about $75M toward a $200M bid for the new RadioShack, reported The Wall Street Journal, citing a person familiar with the matter. The report noted that such a deal would essentially trade a rescue loan the fund arranged and contributed to last year for an ownership stake. Reference Link

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