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News Breaks
July 22, 2014
12:29 EDTHLF, NFLX, HOG, CIT, CMG, DAL, TRV, UTX, DD, VZ, KO, MCD, KMBOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite worse than expected quarterly sales from the owners of two of the largest, most well-known brands in the world, Coca-Cola (KO) and McDonald's (MCD). Those two were among the six Dow members that reported this morning, as earnings season significantly picks up its pace. The market has also managed to shrug off news that airlines, headlined by Delta (DAL), have suspended service until further notice to and from Tel Aviv following reports of a rocket or associated debris near the Israeli airport. ECONOMIC EVENTS: In the U.S., the Consumer Price Index rose 0.3% in June, matching expectations. The FHFA home price index rose 0.4% to 212.4 in May. Existing home sales rose 2.6% to a rate of 5.04M in June, beating expectations for a 2.2% monthly increase to a 5.0M rate. The Richmond Fed's manufacturing index rose 3 points to 7 in July, missing the consensus forecast by 1 point. COMPANY NEWS: One fifth of the Dow Jones Industrial Average reported on their earnings this morning. Among the six members that issued quarterly reports, only Verizon (VZ) advanced, while Coca-Cola, McDonald’s, United Technologies (UTX), Travelers (TRV) and DuPont (DD) all declined... Shares of Herbalife (HLF) began the day in negative territory after having fallen yesterday after hedge fund manager Bill Ackman, who has repeatedly called the company a pyramid scheme, told CNBC that his presentation on the company today would show why the company "is going to collapse." Among the allegations made today, Ackman estimated that Herbalife's nutrition clubs lose an average of $12K for their operators, that the clubs contribute "enormously" to Herbalife's results and that Herbalife insiders are selling while the company is repurchasing shares. The stock moved into positive territory shortly after the presentation began and was up more than 13% near midday as the presentation was continuing. MAJOR MOVERS: Among the notable gainers was Chipotle Mexican Grill (CMG), which rallied 13% after the fast casual restaurant operator's second quarter results handily beat analysts' consensus estimates and it raised its fiscal 2014 comparable restaurant sales outlook. Also higher was CIT Group (CIT), which rose 11% after reporting on its second quarter and announcing plans to acquire OneWest Bank for $3.4B in cash and stock. Among the noteworthy losers following their earnings reports were Harley Davidson (HOG), which fell 6%, Netflix (NFLX), which dropped 5% and Kimberly Clark (KMB), which slid more than 2%. INDEXES: Near midday, the Dow was up 69.71, or 0.41%, to 17,121.44, the Nasdaq was up 36.51, or 0.83%, to 4,461.21, and the S&P 500 was up 11.54, or 0.58%, to 1,985.17.
News For HLF;MCD;KO;VZ;DD;UTX;TRV;DAL;CMG;CIT;HOG;NFLX;KMB From The Last 14 Days
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October 20, 2014
14:49 EDTCMGChipotle October weekly 650 straddle priced for 7.8% move into Q3
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14:14 EDTHOGHarley-Davidson technical comments before earnings
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13:57 EDTMCDMcDonald's October weekly volatility elevated into Q3 and outlook
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13:53 EDTVZEarnings Preview: Verizon sentiment mixed ahead of Q3 report
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13:52 EDTHOGEarnings Preview: Harley-Davidson sees 49,000-54,000 motorcycles shipping in Q3
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13:46 EDTMCDEarnings Preview: McDonald's sees 15c-20c hit to EPS from China supplier issues
McDonald's (MCD) is scheduled to report third quarter earnings before the open on Tuesday, October 21, with a conference call scheduled for 11:00 am ET. McDonald’s franchises and operates fast food restaurants globally.EXPECTATIONS: Analysts are looking for earnings per share of $1.38 on revenue of $7.19B, according to First Call. The consensus range for EPS is $1.31-$1.51 on revenue of $7.03B-$7.35B. LAST QUARTER: McDonald's reported second quarter EPS of $1.40 against estimates of $1.44 and revenue of $7.18B against estimates of $7.29B. McDonald's also reported global comparable sales relatively flat, with U.S. SSS down 1.5%, Europe SSS down 1% and Asia/Pacific, Mideast, Africa SSS up 1.1%. On its earnings conference call, the company forecast a 4c-5c negative impact on EPS from currency in 2014. The company said it did not anticipate any material changes to the operating environment in the second half of 2014, but said near-term results would likely remain "muted." NEWS: During the quarter, the company said it expected to return $18B-$20B to shareholders between 2014-2016 and that $3.2B year-to-date August had been returned. McDonald's also raised its quarterly dividend 5% to 85c per share. McDonald's said China supplier issues would negatively impact the quarter by 15c-20c largely due to a combination of lost sales, expenses associated with its recovery efforts and the impact of these items on the Q3 tax rate, which is expected to be above the company's outlook for the full-year tax rate of 31%-33%. McDonald's recently announced that Russia temporarily suspended nine of its restaurants in the country. STREET RESEARCH: UBS said its recent survey indicates McDonald's does not have a brand image issue, but rather an execution problem, which will need to be fixed to increase traffic. The firm has a Buy rating and $110 price target on shares. Morgan Stanley downgraded McDonald's to Equal Weight from Overweight due to weakening fundamentals combined with U.S. market share loss, and international pressures. Wells Fargo said McDonald's 5% dividend increase was below the Street's 7%-9% outlook and portends badly for the company's operating cash flow, willingness to increase leverage ratios and its capital intensity plans heading into 2015. PRICE ACTION: McDonald's shares are trading down almost 8% over the last three months and are near flat today ahead of the Q3 earnings report.
12:52 EDTMCDMcDonald's technical comments before results
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12:36 EDTDALOptions with decreasing implied volatility
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12:36 EDTUTXUnited Technologies technical notes ahead of earnings
In the past three months the shares have traded down more than 10%, underperforming the broader averages. The trend is distinctly down in the past three months, but that is part of a larger trend that began after price peaked in early June of this year. The long-term uptrend line has also been broken by this recent price action, leaving the technical picture distinctly bearish. If earnings and outlook continue to be below expectations, next support would be at $99.83. Additional downside objectives, on an increasing scale of bearish news, may be at the following support levels: $96.53, $92.94, and $91.15. If the news surprises on the upside, first major resistance would be at $106.07. A move above that level would put the stock back on a more neutral price path. Additional upside objectives might be at resistance at $109.22, and $110.06.
12:01 EDTNFLXNetflix, Amazon recomended as short ideas by Fred Wilson, Bloomberg reports
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11:42 EDTDALStocks with call strike movement; FB DAL
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11:35 EDTCMGChipotle technical view ahead of results
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11:00 EDTHLFHerbalife volatility increases
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08:48 EDTHLFHerbalife initiated with a Buy at Pivotal Research
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08:07 EDTKOCoca-Cola Bottling to exchange franchise territory with Coca-Cola
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07:17 EDTVZVerizon weekly volatility elevated into Q3 and outlook
Verizon October weekly call option implied volatility is at 25, November and January is at 16; compared to its 26-week average of 15 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 21.
06:01 EDTNFLXStocks with implied volatility below IV index mean; EBAY NFLX
Stocks with implied volatility below IV index mean; eBay (EBAY) 27, Netflix (NFLX) 40 according to iVolatility.
05:54 EDTHLFStocks with implied volatility movement; HLD SD
Stocks with implied volatility movement; Herbalife (HLF) 109, SandRidge Energy (SD) 97 according to iVolatility.
October 19, 2014
18:11 EDTMCDRussia temporarily suspends nine McDonald's restaurants in the country
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12:58 EDTUTXUnited Technologies worth a second look, Barron's says
United Technologies stock valuation and dividend yield are starting to look attractive at current levels and if the market rebounds, then the stock should outperform, Barron's contends in its 'The Trader' column. Reference Link
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