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Stock Market & Financial Investment News

News For IBM;ADBE;BBY;WMT;AMZN;TGT;SHLD;NILE;JCP From The Last 14 Days
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March 3, 2015
08:36 EDTBBYBest Buy says Phase 2 of Renew Blue will be backloaded to 2H16
The newer investments will be "much more structural and will come incrementally." Over the next three years, the company expects to see the cost line and the top line.
08:34 EDTBBYBest Buy sees 1H16 comparable sales to be flat to negative low single digits
The comparable sales outlook is driven by a materials decline in tablet category and 2014 holiday momentum not continuing in the new year. Sees non-GAAP operating income down 30 to 50 basis points in 1H16. Reflects economic and growth pressures, 2016 investments into the growth initiatives, and anticipated SG&A inflation. Sees Q1 online growth in mid single digit range. Expects financial impact of economic pressures to begin in Q1 and continue throughout the year. It is optmistic of new product launches, but limited visibility keeps BestBuy "cautious" for the overall industry. Sees 1H16 income tax rate of 39%-40%.
08:21 EDTBBYBest Buy sees FY16 CapEx $650M-$700M in 'year of investment'
The company expects to accelerate the expansion of growing categories like large appliances and mobile phones. It expects to transform traditional offerings for customer needs and integrate Geek Squad into BestBuy.com. It expects to improve delivery and the installation experience with $100M-$120M incremental investments in 2016. Comments taken from Q4 earnings conference call.
07:49 EDTTGTTarget to revamp grocery unit, WSJ says
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07:48 EDTBBYBest Buy up 4.5% after Q4 earnings beat, dividend hike
07:44 EDTBBYBest Buy targeting $400M in annualized savings from phase 2 of 'Renew Blue'
Since the 3Q15 earnings release, Renew Blue annualized cost reductions have increased an additional $55M, bringing the total Renew Blue annualized cost reductions to $1.02B, Best Buy stated. In FY16, the company is launching Phase Two of its Renew Blue cost reduction and gross profit optimization program with a target of approximately $400Min annualized operating income improvement over three years, including the remaining benefit of approximately $250M from the company’s previously discussed returns, replacements and damages opportunity. These savings will be structural in nature and will be driven by streamlined processes and operational efficiencies that will be primarily enabled through investments in systems.
07:27 EDTIBMMorgan Stanley to hold a conference
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07:11 EDTBBYBest Buy CEO says FY16 to be year of investment
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07:10 EDTBBYBest Buy says Q4 strength in phones, large tvs offset tablet weakness
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07:09 EDTTGT, WMTBofA/Merrill to hold a conference
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07:08 EDTBBYBest Buy completes sale of its Five Star business in China
As previously announced on December 4, 2014, the company entered into a definitive agreement to sell its Five Star business in China. As a result of this agreement, Five Star was classified as held for sale at the end of FY15 and its results are included in discontinued operations for the current and prior-year periods. On February 13, Best Buy completed the sale of Five Star. The company has recast certain financial information for FY14 and FY15 to reflect the results from the Five Star business in China as discontinued operations.
07:05 EDTBBYBest Buy raises dividend 21%, declares special dividend, to resume share buyback
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07:03 EDTBBYBest Buy intends to buyback $1B in shares over three years
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07:02 EDTBBYBest Buy announces special dividend of 51c, raises regular dividend 21% to 23c
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07:02 EDTBBYBest Buy reports Q4 EPS $1.48, consensus $1.35
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March 2, 2015
16:02 EDTAMZNOptions Update; March 2, 2015
iPath S&P 500 VIX Short-Term Futures down 91c to 26.70. Option volume leaders: AAPL TSLA TWTR MBI MCD NFLX AMZN GOOG BAC C according to Track Data.
15:23 EDTBBYNotable companies reporting before tomorrow's open
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14:32 EDTBBYBest Buy March weekly 38.5 straddle priced for 7% movement into Q4
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14:28 EDTBBYBest Buy technical comments before results
The stock has had a strong advance over the prior year, but that has stalled somewhat heading into earnings in the last few months. The shares have been in a trading range largely bound by $35 at the low, and $40 at the high. Those two levels can help up project where price may go following results. A breakout above the $40 area, at the 52-week high, would be bullish. Based on the size of the trading range, we could expect a move to the $45 area would then be in the cards, or possibly better depending on the degree of positive surprise. If the news is bearish and price breaks down below $35, the following support levels could become downside objectives: $33.17, $31.30.
11:16 EDTTGTTarget to hold a meeting
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