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February 15, 2013
09:20 EDTWMT, LOGM, ELLI, JCP, A, BKW, QLIK, HLF, ACTV, PPC, RIGOn The Fly: Pre-market Movers
HIGHER: Herablife (HLF), up 17.3% after Carl Icahn reports 12.98% stake, says company is a legitimate business and he intends to explore ways to enhance shareholder value... Neptune Technologies (NEPT), up 8.7% after initiation with Outperform rating, $6 target at JMP Securities... UP AFTER EARNINGS: Qlik Technologies (QLIK), up 18.6%... Ellie Mae (ELLI), up 14.9%... Pilgrim's Pride (PPC), up 8.9%... Burger King Worldwide (BKW), up 3.6%... DOWN AFTER EARNINGS: LogMeIn (LOGM), down 25.7%... Active Network (ACTV), down 9.9%... Agilent (A), down 3.5%... ALSO LOWER: Transocean (RIG), down 4% after downgrades at Deutsche Bank and Howard Weil, last night's fleet status report... J.C. Penney (JCP), down 3.7% after Credit Suisse says new credit agreement increases likelihood of a dilutive offering... Wal-Mart (WMT), down 1.9% after Cleveland Research says U.S. sales have slowed significantly in recent weeks.
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November 13, 2015
09:35 EDTJCPActive equity options trading on open
Active equity options trading on open: AAPL CSCO FB BAC BABA MSFT NFLX INTC JCP AMZN C
09:27 EDTWMTWal-Mart upgraded to Buy from Neutral at Northcoast
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09:27 EDTJCPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Blue Buffalo (BUFF), up 8.2%... Applied Materials (AMAT), up 3.8%... Planet Fitness (PLNT), up 9.8%... Lipocine (LPCN), up 16.2% after reporting quarterly results and that the FDA has assigned a Prescription Drug User Fee Act goal date of June 28, 2016. ALSO HIGHER: Mylan (MYL), up 10.9% after Perrgo (PRGO) shareholders did not tender enough shares for the hostile takeover bid to succeed... Plug Power (PLUG), up 7.3% after entering into a strategic supply agreement with 3M (MMM)... Yum! Brands (YUM), up after reporting that October China Same-Store Sales are up 5%. DOWN AFTER EARNINGS: Fossil (FOSL), down 24.5%... Fossil (JWN), down 20.6%... El Pollo LoCo (LOCO), down 15.1%... Cisco (CSCO), down 4.1%.... Tyco (TYC), down 4.1%... J.C. Penney (JCP), down 6.8%. ALSO LOWER: Fitbit (FIT), down 8.4% after 17M share Secondary priced at $29.00... GameStop (GME), down 8% after being downgraded to Sector Weight from Overweight at Pacific Crest... Lions Gate (LGF), down 2.6% after 3.4M share Spot Secondary priced at $39.43... Perrigo is down 10.5% after shareholders did not tender enough shares for the hostile takeover bid to succeed.
08:59 EDTJCPJ.C. Penney says to 'significantly' accelerate growth of Sephora inside stores
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08:43 EDTJCPJ.C. Penney confirms comany recently cut 300 positions in Plano office
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08:39 EDTJCPJ.C. Penney sees Q4 comps to be in line with FY expectations
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08:18 EDTJCPJ.C. Penney still sees being free cash flow breakeven in FY15
Notes that due to significant store investments in 2012 and 2013, average spend on store level projects is ~$200M lower in 2014/2015 compared to historical levels. Says IT as a % of total is planned at 33% in 2015 which is above the historical average of ~22%. Still targeting to achieve $1.2B EBITDA in 2017. Comments from slides that will be presented on the Q3 earnings conference call.
08:06 EDTJCPJ.C. Penney: 'Well positioned' to compete effectively during key holiday period
For Q3, all merchandise divisions had positive comp sales gains over last year. Men's, Home, Footwear, Handbags, and Sephora were among the Company's top performing divisions. Geographically, all regions experienced sales growth compared to the same period last year, with the best performance in the southern and western regions of the country.
08:04 EDTJCPJ.C. Penney reports Q3 adjusted EPS (47c), consensus (55c)
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07:36 EDTJCPJ.C. Penney sees FY15 SSS up 4%-5%
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07:34 EDTJCPJ.C. Penney reports Q3 EPS (45c), consensus (55c)
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November 12, 2015
19:00 EDTJCPOn The Fly: After Hours Movers
UP AFTER EARNINGS: USA Technologies (USAT), up 15.9%... Blue Buffalo (BUFF), up 7.3%... Planet Fitness (PLNT), up 12.3%... Darling Ingredients (DAR), up 8.1%... Applied Materials (AMAT), up 3.8%... Lipocine (LPCN), up 19.9% after reporting quarterly results and that the FDA has assigned a Prescription Drug User Fee Act goal date of June 28, 2016. ALSO HIGHER: Syngenta (SYT), up 14.5% after Bloomberg reported that the company rejected an initial $42B bid from ChemChina... Yum! Brands (YUM), up 4.1% after reporting that October China Same-Store Sales are up 5%. DOWN AFTER EARNINGS: bebe stores (BEBE), down 10.5%... Nordstrom (JWN), down 20.3%... Fossil (FOSL), down 14.7%... Cisco (CSCO), down 4.8%... El Pollo LoCo (LOCO), down 8.7%... Tahoe Resources (TAHO), down 7.2%. ALSO LOWER: Paycom Software (PAYC), down 5.2%... Netflix (NFLX) down 1% after Dow Jones reported that Hulu, a joint venture of Disney (DIS), Comcast (CMCSA, CMCSK), and Fox (FOX, FOXA), is in discussions to sell a stake in the company to Time Warner (TWX)... TJX Companies (TJX), down 4%, Burlington Stores (BURL), down 5.3%, Macy's (M), down 1.6%, Target (TGT), down 1.9%, J.C. Penney (JCP), down 1.4%, and Kohl's (KSS), down 1.3%, after Nordstrom reported quarterly results and cut its fiscal 2015 guidance.
18:38 EDTJCPDepartment store stocks drop after Nordstrom reports Q3 earnings, cuts guidance
Shares of Nordstrom (JWN) slipped in after-hours trading after the department store reported its third quarter results and cut its guidance for fiscal year 2015. WHAT'S NEW: Nordstrom reported Q3 earnings per share of 42c, against analyst estimates of 72c, Q3 revenue of $3.24B below consensus estimates of $3.37B, and Q3 same-store sales of 0.9%. The company lowered its FY15 adjusted EPS view to $3.40-$3.50 from $3.70-$3.80, against analyst expectations of $3.75, lowered its FY15 revenue guidance to up 7.5%-8% from 8.5%-9.5%, and lowered its FY15 SSS view to 2.5%-3% from 3.5%-4.5%. WHAT'S NOTABLE: Nordstrom reported that Q3 EPS included a reduction of 15c, which primarily represented transaction costs associated with the closing of its credit card portfolio sale. In its Q3 earnings release, Nordstrom said that its performance was below company expectations, reflecting softer sales trends that were generally consistent across channels and merchandise categories. The company noted that its top-performing merchandise category was Cosmetics. In addition, coats, younger customer-focused departments and dresses continued to reflect strength in Women's Apparel. PRICE ACTION: Shares of Nordstrom are trading lower by 20.55% to $50.45 in the after-hours. OTHERS TO WATCH: Retailers that followed Nordstrom downward included TJX Companies (TJX), down 4%, Burlington Stores (BURL), down 5.3%, Macy's (M), down 1.6%, Target (TGT), down 1.9%, J.C. Penney (JCP), down 1.4%, and Kohl's (KSS), down 1.3%.
18:19 EDTWMTWal-Mart workers group to launch 15-day protest into Black Friday, Reuters says
A Wal-Mart Stores worker group that has urged the retailer to increase pay and benefits is conducting a 15-day protest leading up to Black Friday to rekindle the fight for a $15 per hour minimum wage and more opportunities to work full time, Reuters reports. Reference Link
14:55 EDTJCPJ.C. Penney November weekly 9 straddle priced for 7.8% movement into Q3
14:35 EDTJCPEarnings Watch: J.C. Penney CEO says Q3 EPS, gross marin 'exceeded expectations'
J.C. Penney (JCP) is scheduled to third quarter earnings before the market opens on Friday, November 13 with a conference call scheduled for 8:30 am ET. J.C. Penney operates about 1,100 retail stores and EXPECTATIONS: Analysts are looking for a loss per share of (55c) on revenue of $2.88B, according to First Call. The consensus range for EPS is (64c)-(43c) on revenue of $2.79B-$2.95B. LAST QUARTER: J.C. Penney reported second earnings per share of (45c) on revenue of $2.88B, slightly beating estimates for (48c) and $2.86B, respectively. Comparable store sales were up 4.1% in the quarter. The retailer backed its fiscal year 2015 same-store sales view of up 4%-5% and raised its FY15 EBITDA guidance to approximately $620M from about $600M. The company also backed its FY15 gross margin view of a 100-150 basis point improvement. On its earnings conference call, J.C. Penney said it was "confident" in its ability to achieve its long-term financial targets, and forecast an improvement in second half SSS vs. first half. Further, J.C. Penney sees Q3 SSS up sequentially from Q2. The company expects to be free cash flow breakeven in FY15. NEWS: During the quarter, J.C. Penney named John Tighe as its chief merchant, succeeding Elizabeth Sweeney. J.C. Penney cut 300 jobs at its Plano, Texas, headquarters in October as it progresses on its strategic framework. On November 11, J.C. Penney reported stronger than expected SSS growth of 6.4% for Q3. Chief Executive Officer Marvin Ellison said that the company's Q3 EPS and gross margin performance "exceeded our expectations." Separately, the retailer also announced the settlement of a class action lawsuit alleging false advertising. The company will make $50M in cash available for claims under the terms of the settlement. STREET RESEARCH: On September 28, Sterne Agee CRT upgraded J.C. Penney to Buy from Neutral with a $13 price target. After meeting with the company's new CEO, the firm thinks he has the ability to lead a turnaround at the company. The firm believes that the retailer's initiatives will boost its EBITDA, and Sterne thinks the company can surpass its $1.2B 2017 EBITDA guidance while its same-store sales growth can accelerate. On October 7, Citi analyst Paul Lejuez started shares of J.C. Penney with a Sell rating and $7 price target. The company's goals are aggressive while its free cash flow is "elusive," Lejuez told investors in a research note. PRICE ACTION: Over the last three months, J.C. Penney shares are up 7.5%. In trading ahead of Friday's Q3 report, J.C. Penney is up about 4.25% to $8.88.
14:30 EDTJCPNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include J. C. Penney (JCP), consensus (55c)... Edgewell Personal Care (EPC), consensus 69c.
11:45 EDTRIGStocks with call strike movement; CNX RIG
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08:01 EDTWMTJuniper names Kevin Walker as Security Chief Technology Officer
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06:17 EDTWMTWal-Mart starts Black Friday earlier on Thanksgiving day, WSJ says
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