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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 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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10:06 EDTSHLDOptions with decreasing implied volatility
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10:00 EDTIBMOn The Fly: Analyst Downgrade Summary
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09:54 EDTTGTTarget March weekly volatility elevated into financial community meeting
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09:14 EDTADBEApple, Google employees asking for $415M poaching settlement, Reuters says
Silicon Valley workers alleging that Apple (APPL), Google (GOOG), Intel (INTC), and Adobe (ADBE) colluded to limit poaching will attempt on Monday to win court approval for a $415M claim, reports Reuters. A judge had rejected the previous settlement offer of $324.5M as too low, saying the settlement would need to reach at least $380M. Reference Link
08:35 EDTIBMIBM downgraded to Underweight from Neutral at Atlantic Equities
As previously reported, Atlantic Equities downgraded IBM to Underweight from Neutral. The firm said IBM faces long-term structural issues and is unconvinced by management's strategic plan will change the direction. The analyst sees further room for disappointment around consensus expectations of 8% earnings growth in 2016-2017 and lowered its price target to $140 from $150.
07:59 EDTBBYBest Buy volatility elevated into Q4 and outlook
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06:27 EDTIBMBuffett says IBM cost likely around $170/share
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06:22 EDTIBMIBM downgraded to Underweight from Neutral at Atlantic Equities
06:22 EDTIBMBuffett says IBM interest 'increasing day after day'
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06:19 EDTIBMBuffett says buying more IBM 'because I like it'
Warren Buffett is speaking on CNBC.
March 1, 2015
17:44 EDTBBYSprint, Best Buy announce 'Best Buy One Plan'
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13:05 EDTIBMBerkshire's Buffett says 2015 will be 'tough year' for 'Big Four' investments
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February 27, 2015
16:22 EDTJCPStocks have another winning week after Greek deal, Yellen reassurance
Stocks ended higher this week after the euro zone sealed its deal to extend Greece's bailout and Fed chair Janet Yellen reiterated that the central bank would take a patient approach to raising interest rates. MACRO NEWS: Last Friday afternoon, Greece reached a framework deal with its euro zone partners to extend its bailout by four months, contingent on a reform proposal being accepted. The proposals were accepted by the EU early this week... In testimony before Congress, Janet Yellen reiterated that the Federal Reserve can remain patient in deciding when to hike interest rates... U.S. economic data was mixed, as the Q4 GDP growth revision, durable goods orders for January, and an index of consumer sentiment beat expectations, but weekly jobless claims and existing home sales for January missed expectations... Somewhat positive economic data came out of China, as the flash HSBC/Markit Purchasing Managers' Index was 50.1, representing a four month high. However, China's export orders declined at the fastest rate in 20 months. COMPANY NEWS: Drug maker Valeant (VRX) agreed to buy Salix (SLXP), which develops gastrointestinal products, for $158 per share. In another development on the M&A front, Bloomberg reported that HP (HPQ) is in talks to make its biggest acquisition in several years by potentially acquiring Aruba Networks (ARUN), which provides Wi-Fi products. Additionally, PTC Therapeutics (PTCT) rose after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN)... Solar energy company SunPower (SPWR) was one of this week's big winners after its quarterly results topped expectations, and the company announced that it's in advanced talks to form a joint YieldCo vehicle with peer First Solar (FSLR). First Solar also rallied after the news... Among the noteworthy losers this week was Lumber Liquidators (LL), after the company reported Q4 earnings per share and revenue that missed consensus expectations. The flooring retailer also warned on its associated call that an upcoming "60 Minutes" piece may cast the company in an unfavorable light and disclosed in its annual report that the Department of Justice indicated in recent communications that it is contemplating seeking criminal charges under the Lacey Act... Companies that rose after reporting their quarterly results included Home Depot (HD) and Gap (GPS), while HP, TASER (TASR), and J.C. Penney (JCP) dropped after reporting their results. INDEXES: For the week, the Dow was down 0.04% to 18,132.70, the Nasdaq was up 0.15% to 4,963.53, and the S&P 500 was down 0.27% to 2,104.50.
16:14 EDTJCPOn The Fly: Closing Wrap
Stocks on Wall Street were lower for the day, but still rose for the week and the month of February. The market moved in a narrow range for most of today's session despite a host of economic reports that were released earlier in the day. In spite of today's modest declines, the market put the finishing touches on one of its best months ever, with the Dow and S&P posting their best monthly rises since October 2011 and the Nasdaq notching its best month since 1998. ECONOMIC EVENTS: In the U.S., the Commerce Department estimated GDP grew at an annual rate of 2.2% in the last quarter of 2014, which is weaker than the 2.6% rate first estimated last month, but above the consensus forecast for the GDP growth rate to be cut to 2%. The Chicago PMI fell 13.6 points to 45.8 in February, which was much worse than the expected reading of 58.0. The University of Michigan consumer sentiment final February print came in at 95.4, which is a little better that the 93.6 preliminary February print and above the consensus forecast for a 94.0 reading. The pending home sales index bounced 1.7% to 104.2 in January, versus expectations for it to be up 2%. COMPANY NEWS: Two notable retailers moved in opposite directions following their quarterly reports, as Gap (GPS) rose and J.C. Penney fell. Gap gained $1.23, or 3.05%, to $41.60 after the company reported fourth quarter earnings that beat expectations. The owner of Old Navy, Banana Republic and its flagship nameplate also announced a $1B share repurchase program and plans to increase its dividend. J.C. Penney, meanwhile, reported earnings that missed expectations and gave a 2015 gross margin outlook that disappointed some analysts and its shares slid 62c, or 6.8%, to $8.50. MAJOR MOVERS: Among the notable gainers was Monster Beverage (MNST), which jumped $16.38, or 13.13%, to $141.12 after the energy drink maker's fourth quarter results surpassed analystsí consensus estimates and announced plans to expand distribution with Coca-Cola (KO) bottlers into additional territories. Among the noteworthy losers was Weight Watchers (WTW), which dropped $6.23, or 35.48%, to $11.33 after reporting lower than expected quarterly revenues and issuing a worse than expected profit forecast for its new fiscal year. Also lower were shares of Southwestern Energy (SWN), which fell $1.27, or 4.82%, to $25.08 after becoming the latest oil production company to lower its 2015 capital expenditure forecast. INDEXES: The Dow fell 81.72, or 0.45%, to 18,132.70, the Nasdaq lost 24.36, or 0.49%, to 4,963.53, and the S&P 500 declined 6.24, or 0.3%, to 2,104.50.
12:54 EDTJCPOn The Fly: Midday Wrap
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11:04 EDTJCPStocks with call strike movement; JCP DDD
J.C. Penney (JCP) August 10 call option implied volatility decreased 5% to 44, 3D Systems (DDD) August 34 call option implied volatility increased 7% to 44 according to IVolatility.
10:32 EDTSHLDOptions with decreasing implied volatility
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09:46 EDTBBYBest Buy management to meet with JPMorgan
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09:37 EDTJCPJ.C. Penney tumbles, levels to watch
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09:35 EDTAMZNActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL MCD GOOG MNST BAC TSLA NFLX SINA AMZN WYNN
09:24 EDTJCPOn The Fly: Pre-market Movers
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09:23 EDTJCPJ.C. Penney 2017 financial targets are unattainable, says Craig-Hallum
Craig-Hallum said J.C. Penney's 2015 gross margin outlook supports its view the company's 2017 financial targets are unattainable. Given the continued double digit growth of the margin dilutive e-commerce channel, the firm does not see meaningful upside to gross margin targets and reiterates Sell rating.
07:11 EDTJCPJ.C. Penney remains a 'show me story,' says Deutsche Bank
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06:46 EDTJCPJ.C. Penney sell-off a buying opportunity, says Piper Jaffray
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06:22 EDTAMZNAmazon's Twitch begins broadcasting online poker, WSJ says
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February 26, 2015
18:43 EDTJCPOn The Fly: After Hours Movers
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17:55 EDTJCPJ.C. Penney sees Q1 sales to be impacted less than 1% due to West Coast ports
Management stated that they believe that the West Coast port shutdown impacted holiday business. The company did see a slowdown in January and ended FY14 $30M-$50M lower than was expected. The company is attempting to leverage other ports on the East Coast and Gulf Coast. The company is mitigating late shipments by transporting more goods via roadway than by rail. The company expects Q1 sales to be impacted less than 1% and Impacts to gross margins to be less than $20M. Both the Q1 sales and Q1 gross margin impact is accounted for in the company's FY15 guidance.
17:35 EDTJCPJ.C. Penney CEO Ullman says company is 'back and competing effectively'
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17:25 EDTJCPJ.C. Penney reports men's apparel, home, fine jewelry were top performers in Q4
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17:21 EDTJCPJ.C. Penney reports FY14 positive free cash flow of $57M
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16:52 EDTIBMOn The Fly: Closing Wrap
Stocks on Wall Street moved in a narrow range for most of the session while remaining near record levels. The Nasdaq was the strongest of the indices, as it continues its march towards 5,000. Crude oil prices fell by over 5% during the regular trading session, but recovered a bit in after-hours trading. The market is on pace to complete its fourth consecutive week of gains and close out the month of February with gains after suffering losses in January. ECONOMIC EVENTS: In the U.S., the Consumer Price Index fell 0.7% in January, with the core rate rising 0.2%, versus expectations for the headline CPI to be down 0.6% and the core rate to rise 0.1%. Initial jobless claims rose 31K to 313K in the week ended February 21, versus expectations for 290K first-time claims. Durable goods orders rose 2.8% in January, versus expectations for a 1.6% increase. The FHFA home price index rose 0.8% to 218.6 in December, versus expectations for an increase of 0.5%. COMPANY NEWS: The Federal Communications Commission voted 3 to 2 in favor of adopting new open Internet, or "net neutrality," rules. FCC Chairman Tom Wheeler has proposed that the FCC use its Title II authority to implement and enforce "bright-line" rules to ban paid prioritization and the blocking and throttling of lawful content and services. However, Wheeler said his proposal will "modernize" Title II, insuring there will be no rate regulation, no tariffs, and no last-mile unbundling. Major Internet Service Providers, including Verizon (VZ), AT&T (T), and Comcast (CMCSA), have opposed the rules, while Netflix (NFLX) has been a strong and vocal supporter of open Internet provisions... Shares of International Business Machines (IBM) slipped $1.94, or 1.19%, to $160.87 after Big Blue held its investor day meeting in NYC. At the meeting, IBM backed its fiscal year profit view but also said that the company now expects currency to impact revenue growth by over 6 points for the full year, which is greater than the impact previously provided based on January 16 spot rates. IBM also said it was shifting $4B into "strategic initiatives," including Big Data, the Cloud, mobile, social and security... Barnes & Noble (BKS) rose $1.67, or 6.89%, to $25.92 after announcing plans to split its Education business from its Retail and NOOK Digital businesses. The separation into two independent, publicly traded companies is anticipated to be completed by the end of August and is intended to be a tax-free distribution to shareholders, B&N noted. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which jumped $1.57, or 24.69%, to $7.93 after the company agreed to be acquired by Avago Technologies (AVGO) for $606M, or $8 per share in cash. Avago also rose $16.57, or 14.71%, to $129.25 after announcing the deal and reporting "beat and raise" quarterly results. Also higher was UIL Holdings (UIL), which gained $9.74, or 23.01%, to $52.07 after the company agreed to be acquired by Iberdrola USA to create a newly listed U.S. publicly-traded company. The proposed transaction implies total value per share to UIL shareholders of $52.75, including $10.50 per share paid in the form of cash, the companies said. Among the noteworthy losers was Clayton Williams (CWEI), which fell $11.41, or 17.77%, to $52.79 after the company suspended drilling operations in both of its core resource plays, citing low oil prices, and its shares were downgraded at Wunderlich. Also lower following their earnings reports were network solutions provider Inteliquent (IQNT), which dropped $3.05, or 17.33%, to $14.55, and electric weapons maker TASER (TASR), which slid $4.36, or 16.14%, to $22.68. INDEXES: The Dow fell 10.15, or -0.06%, to 18,214.42, the Nasdaq gained 20.75, or 0.42%, to 4,987.89, and the S&P 500 declined 3.12, or 0.15%, to 2,110.74.
16:13 EDTJCPJ.C. Penney down 5.6% after Q4 earnings miss expectations
16:12 EDTJCPJ.C. Penney sees FY15 comparable store sales up 3%-5%
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16:11 EDTJCPJ.C. Penney ended year with liquidity of approximately $2.1B
For Q4, gross margin improved 540 basis points to 33.8% of sales, compared to 28.4% in the same quarter last year. Gross margin was positively impacted by significant improvement in the company's merchandise mix and margin on clearance sales over the prior year quarter.
16:10 EDTJCPJ.C. Penney reports Q4 adjusted EPS 0c, consensus 11c
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15:30 EDTJCPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Monster Beverage (MNST), consensus 59c... Ross Stores (ROST), consensus $1.11... Gap (GPS), consensus 74c... Autodesk (ADSK), consensus 24c... Universal Health Services (UHS), consensus $1.50... Southwestern Energy (SWN), consensus 50c... Ensco (ESV), consensus $1.36... J.C. Penney (JCP), consensus 11c... Nimble Storage (NMBL), consensus (14c)... Herbalife (HLF), consensus $1.22... Allscripts Healthcare (MDRX), consensus 9c... SBA Communications (SBAC), consensus 2c... Aruba Networks (ARUN), consensus 27c... Splunk (SPLK), consensus 4c... Air Lease (AL), consensus 61c... Ingram Micro (IM), consensus 99c... Weight Watchers (WTW), consensus 7c... Northern Oil and Gas (NOG), consensus 19c... Envision Healthcare (EVHC), consensus 36c... Infoblox (BLOX), consensus 5c... Live Nation (LYV), consensus (41c)... OmniVision (OVTI), consensus 29c... Bonanza Creek Energy (BCEI), consensus 27c.
13:03 EDTJCPJ.C. Penney February weekly 9 straddle priced for 10.2% movement into Q4
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12:48 EDTJCPEarnings Preview: J.C. Penney sees Q4 SSS at high end of 2%-4% view
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12:39 EDTIBMOn The Fly: Midday Wrap
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12:04 EDTBBYBest Buy volatility increases into Q4 and outlook
Best Buy March weekly call option implied volatility is at 60, March is at 42, April is at 35, June is at 34; compared to its 26-week average of 41 according to Track Data, suggesting large near term price movement into the expected release Q4 results on March 3.
12:01 EDTJCPAppeals court revives two claims by Macy's against J.C. Penney, Reuters says
A New York appeals court has revived two claims by Macy's (M) against J.C. Penney (JCP) that accuse J.C. Penney of contract interference and unfair competition related to a Martha Stewart contract, though the appeals court reaffirmed the prior decision that Macy's did not deserve punitive damages, reports Reuters, citing court statements. Reference Link
11:52 EDTJCPMacy's claims against J.C. Penney to be reinstated after appeal, Bloomberg says
11:46 EDTAMZNAmazon.com hires Jay Carney for corporate affairs position, Politico says
Former White House Press Secretary Jay Carney has accepted the position of SVP for Worldwide Corporate Affairs at Amazon, says Politico. Reference Link
10:36 EDTSHLDOptions with decreasing implied volatility
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09:12 EDTIBMIBM shifting $4B into 'strategic initiatives'
The strategic imperatives identified by IBM include Data, Cloud and Engagement.
09:09 EDTTGTKohl's says some areas of U.S. 'reallly impacted by weather'
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09:07 EDTIBMIBM backs FY15 EPS view $15.75-$16.50, consensus $16.02
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09:02 EDTIBMIBM sees EPS to grow high single-digits over longer term
IBM sees revenue to grow low single-digits over longer term. See longer term Free Cash Flow realization in the 90%'s. Longer term view given in slides for analyst day meeting.
07:36 EDTJCPJ.C. Penney volatility elevated into Q4 and outlook
J.C. Penney February weekly call option implied volatility is at 168, March weekly calls are at 91, April is at 55; compared to its 26-week average of 54 according to Track Data, suggesting large near term price movement into the expected release of Q4 results today.
06:57 EDTIBMIBM volatility low into investor day
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06:44 EDTSHLDSears says targeting REIT formation in May or June
Sears said "We are continuing our efforts to develop Sears Holdings as a membership company, without the significant asset intensity of its traditional retail business. To this end, we announced in November that we have been exploring the formation of a Real Estate Investment Trust to purchase some of our properties and to manage them like a pure real estate company. While we can offer no assurances that such a transaction will be consummated, we have made progress and are proceeding towards its formation and separation, which is projected to occur in May or June of this year. We are currently targeting between 200 and 300 Sears and Kmart stores to be sold to the REIT with expected proceeds to Sears Holdings in excess of $2B. The REIT itself would be funded by equity and debt with the equity raised through a rights offering. The subscription rights would be distributed pro rata to all stockholders of record of the company, and every stockholder would have the right to participate, except that holders of the company's restricted stock that is unvested as of the record date would be expected to receive cash awards in lieu of subscription rights."
06:09 EDTSHLDSears reports Q4 EPS ($1.50), one estimate ($1.89)
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February 25, 2015
16:00 EDTAMZNOptions Update; February 25, 2015
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15:05 EDTSHLDNotable companies reporting before tomorrow's open
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12:31 EDTTGTOn The Fly: Midday Wrap
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11:18 EDTTGTTarget says worker wages 'competitive'
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11:10 EDTTGTTarget sees Q1 SSS up about 2%
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11:07 EDTTGTTarget says could be in a position to revisit stock buybacks later this year
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10:58 EDTTGTTarget says top priority is to drive digital sales growth
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09:08 EDTTGTOn The Fly: Pre-market Movers
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08:59 EDTSHLDSears Holdings volatility elevated into Q4 and outlook
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08:02 EDTTGTTarget says seeing early momentum in efforts to transform company
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08:01 EDTTGTTarget sees Q1 adjusted EPS 95c-$1.05, consensus $1.04
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08:01 EDTTGTTarget reports Q4 adjusted EPS $1.50, consensus $1.46
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08:00 EDTTGTTarget reports Q4 adjusted EPS $1.50, consensus $1.46
08:00 EDTWMTWal-Mart still pressured by prominent shareholder over pay, Reuters says
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07:27 EDTIBMThe Linley Group to hold a conference
Linley Data Center Conference 2015 is being held in Santa Clara, California on February 25-26.
06:01 EDTAMZNGlobal tablet shipments forecast at 221.4M units in 2015, DigiTimes says
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06:01 EDTAMZNReport: Amazon reduces tablet orders to Compal, Quanta by 30%, DigiTimes says
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05:55 EDTTGTTarget implied volatility of 25 at upper end of index mean range
February 24, 2015
15:21 EDTTGTNotable companies reporting before tomorrow's open
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14:47 EDTTGTTarget technical comments ahead of earnings
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12:53 EDTTGTEarnings Preview: Target sees Q4 adjusted EPS $1.43-$1.47, above prior view
Target (TGT) is scheduled to report fourth quarter results before the market open on Wednesday, February 25, with a conference call scheduled for 10:30 am ET. Target offers merchandise at discounted prices through its retail stores and online business. EXPECTATIONS: Analysts are looking for earnings per share of $1.46 on revenue of $21.64B, according to First Call. The consensus range for EPS is $1.44-$1.49 on revenue of $21.42B-$21.94B. LAST QUARTER: Target reported third quarter adjusted EPS of 54c on revenue of $17.73B, against estimates for 47c and $17.56B, respectively. The company said U.S. segment comparable store sales were up 1.2% in Q3, reflecting digital sales growth of over 30%, with Canadian segment SSS up 1.6%. In an interview with CNBC following the earnings report, Chief Executive Officer Brian Cornell said that the company was "not happy" with Target Canada's performance and that the company has "upped our game" with respect to data security. Cornell said the company viewed Q4 as a "notable inflection point." NEWS: In January, Target announced that it plans to discontinue operating stores in Canada through its indirect wholly-owned subsidiary, Target Canada. The company said it expects to report approximately $5.4B of pre-tax losses on discontinued operations in Q4, driven primarily by the write-down of the company's investment in Target Canada, along with costs associated with exit or disposal activities and quarter-to-date Canadian Segment operating losses prior to today. Target expects to report approximately $275M of pre-tax losses on discontinued operations in FY15. Target expects this decision will increase its earnings in FY15 and beyond, and increase its cash flow in fiscal year 2016 and beyond. Based on performance through November and December, Target now expects to report Q4 U.S. comparable sales of approximately 3%, better than prior guidance of approximately 2%, driven primarily by increased traffic and stronger-than-expected digital sales. The company raised its Q4 adjusted EPS view to $1.43-$1.47 from $1.13-$1.23. The company said GAAP results are expected to include losses related to liquidation of Target Canada,net of taxes, net expenses related to the 2013 data breach, which are not expected to be material, the impact of the reduction of the beneficial interest asset recognized in connection with the 2013 sale of the companyís credit card portfolio, which is expected to reduce GAAP EPS by approximately 2c. The company noted that the "vast majority" of exit costs from Canada are non-cash and said the exit will allow a quicker return to share repurchases. During the quarter, Target named Mike McNamara as executive VP and Chief Information Officer. Target said it is planning open 15 stores in FY15, including three distinct store formats: eight TargetExpress locations, one CityTarget and six general merchandise stores. The U.S. Supreme Court declined to hear a challenge by retailers including Target to the Federal Reserve's rules for debit card "swipe fees," meaning the U.S. Court of Appeals for the District of Columbia Circuit decision, which upheld the rules, will must be followed, said Reuters. New York Attorney General Eric Schneiderman sent a letter to Target and other retailers for "allegedly selling store brand herbal supplement products in New York that either could not be verified to contain the labeled substance, or which were found to contain ingredients not listed on the labels." The letters call for the retailers to "immediately stop the sale of certain popular products," including Echinacea, Ginseng, St. Johnís Wort, and others. Target recently announced that all online orders of $25 or more now qualify for free shipping. Target agreed to pay $3.9M to settle a lawsuit alleging the company used inaccurate price scanners, misrepresented product weight, and charged higher prices than advertised, The San Francisco Gate reported, citing prosecutor statements. Target announced on its website that it will shutter its online streaming service Target Ticket on March 7. STREET RESEARCH: BofA/Merrill upgraded Target to Neutral from Underperform. The firm sees a more stable outlook for Target with the exit of the Canada division and expects the U.S. improvements to continue. RW Baird says that while Target's decision to exit Canada should help cash flows longer term, its view on the company's U.S. fundamentals remain unchanged. The firm says it's hard to call the company's above-plan Q4 comps "robust" given the easy compare. Wells Fargo believes that Target's decision to exit Canada came sooner than expected and removes a major ''weight off the shoulders'' of the company. The firm estimates Target's U.S. earnings can grow to as high as $5.50 in 2016. Stifel downgraded Target to Hold from Buy. The firm believes near-term tactical opportunities are play out and management commentary indicates investments will be necessary in order to modernize. PRICE ACTION: Target shares are up over 6.5% over the past three months. In early afternoon trading ahead of Wednesday's earnings report, shares are down 0.5% to $76.27.
07:37 EDTTGTTarget February weekly volatility elevated into Q4 and outlook
Target February weekly call option implied volatility is at 57, March is at 25, April is at 23, July is at 20; compared to its 26-week average of 20 according to Track Data, suggesting larger near term price movement into the expected release of Q4 results on February 25.
06:48 EDTJCPPiper reiterates J.C. Penney as top pick for 2015
Piper Jaffray analyst Neely Tamminga reiterates J.C. Penney as a top pick for 2015 ahead of the retailer's year-end 2014 earnings report. Tamminga believes Penny's comp for February, the first month of its fiscal year, could be tracking up 4%. The analyst also thinks Penny management could express conviction in the retailer's plan to recapture share among moderate consumers on Thursday's earnings call. Tamminga has an Overweight rating on Penny with a $12 price target.
06:21 EDTWMTWal-Mart de Mexico announces retirement of CFO Rafael Matute
Wal-Mart de Mexico announces that its board approved Rafael Matute's decision to retire from the company, after having served for 17 years as CFO, and the appointment of Pedro Farah as the new CFO. The changes will be effective June 1 and Matute will stay until July 31 to help with the transition. Farah is currently CFO of Walmart Latin America.
February 23, 2015
16:00 EDTAMZNOptions Update; February 23, 2015
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14:24 EDTIBMIBM signs strategic teaming agreement with Tech Mahindra
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11:35 EDTAMZNAmazon picks Benson to head advertising for original TV series, Variety says
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10:50 EDTWMTWal-Mart to host 2015 Global Sustainability Milestone Meeting
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10:31 EDTAMZNEPIX announces extension to Prime Instant Video agreement
EPIX announced that it has extended its agreement with Amazon to license thousands of new releases, classic library titles and original programs for Prime Instant Video. Programming from the agreement includes movies from EPIX studio partners, Paramount Pictures, Lionsgate and Metro-Goldwyn-Mayer Pictures, and delivers new releases such as Transformers: Age of Extinction, Teenage Mutant Ninja Turtles, Interstellar, Selma and The Hunger Games: Mockingjay Part 1, along with classic big film franchises including James Bond, Star Trek, Rocky and more.
08:32 EDTTGTTarget lowers online free shipping minimum to $25
Target announced that, effective immediately, all online orders of $25 or more now qualify for free shipping, with virtually no exclusions. The new minimum is decreased from $50.
08:00 EDTADBEAdobe shares recommended at Rosenblatt
Rosenblatt believes Adobe continues to execute and will report Q1 earnings and revenues slightly ahead of consensus estimates of 40c/1.09B and for new sub adds and Marketing Cloud billing to be above expectations.
February 22, 2015
15:31 EDTWMTMcDonald's under pressure to raise hourly pay as Wal-Mart sets bar, Reuters says
According to labor experts McDonald's (MCD) and its franchisees may be under pressure to raise hourly wages as the improved economic landscape increases competition for good workers and as retailer Wal-Mart (WMT) raises its hourly pay, says Reuters. Reference Link
February 20, 2015
16:48 EDTWMTDow, S&P 500 finish week at record highs after Greek deal reached
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16:03 EDTAMZN, WMTOptions Update; February 20, 2015
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14:46 EDTSHLDSears Holdings volatility elevated into Q4 and outlook
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13:20 EDTWMTAnalysts divided on Wal-Mart after results, pay raise announcement
Barclays cut its rating on Wal-Mart (WMT) this morning after the world's largest retailer reported its quarterly results and gave forward looking guidance yesterday. However, research firm Janney Capital wrote in a note to investors that it believes shares of Wal-Mart will probably outperform going forward, as other retailers are likely to implement wage hikes similar to the one that the giant discounter announced. BACKGROUND: Yesterday Wal-Mart announced that it would raise the wages of all of its employees to at least $10 per hour by February 2016. The company also reported higher than expected fourth quarter profits, excluding certain items, but its Q4 revenue came in below expectations. Moreover, the retailer provided lower than expected profit guidance for its fiscal 2016 and lowered its fiscal 2016 sales growth guidance to 1%-2% from its previous outlook of 2%-4%. Wal-Mart's stock fell significantly yesterday after the quarterly report. ANALYST REACTION: Barclays lowered its rating on Wal-Mart to Equal Weight from Overweight and dropped its price target for shares to $85 from $90. The firm says the retailer's investments to improve the shopping experience at its U.S. stores will continue into FY17 and are unlikely to produce near-term benefits. It believes Wal-Mart's Q4 domestic comps were aided by lower gas prices and easy weather comparisons, and notes that weather is unlikely to help in FY16. Meanwhile, Janney Capital analyst David Strasser said Wal-Mart's stock dropped because of worries about the company's spending and the hit the company took from negative foreign exchange trends. However, other retailers are likely to implement similar wage hikes, causing the entire sector to come under pressure and enabling Wal-Mart's stock to outperform going forward, according to Strasser. Additionally, Wal-Mart is likely to continue to benefit from higher gas prices in Q1, wrote the analyst, who kept an $89 price target and Buy rating on the shares. PRICE ACTION: In mid-afternoon trading, Wal-Mart added 0.5% to $83.94.
11:37 EDTIBMIBM volatility low into host investor day
IBM February weekly call option implied volatility is at 17, March is at 15, July is at 17; compared to its 26-week average of 20 according to Track Data, suggesting decreasing movement into a company hosted investor day to be held in New York on February 26.
10:01 EDTWMTOn The Fly: Analyst Downgrade Summary
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09:38 EDTAMZN, WMTActive equity options trading on open
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09:06 EDTWMTWal-Mart can outperform as peers follow suit on wages, says Janney Capital
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07:20 EDTWMT, TGTWal-Mart wage increase may pressure Target, Staples, Reuters says
Wal-Mart's (WMT) wage increase announcement will likely pressure the retail, fast-food, and restaurant sectors to potentially follow suit, reports Reuters, citing an Edward Jones analyst and the managing director of consultancy firm Strategic Resource Group. The analysts specifically named Target (TGT) and Staples (SPLS). Reference Link
07:10 EDTAMZNBrean Capital to hold a bus tour
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06:04 EDTAMZNAmazon expands two-hour delivery program to Brooklyn, Re/code says
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05:50 EDTWMTWal-Mart downgraded to Equal Weight from Overweight at Barclays
Barclays cut its rating on Wal-Mart to Equal Weight from Overweight and dropped its price target for shares to $85 from $90. The firm says the retailer's investments to improve the shopping experience at its U.S. stores will continue into FY17 and are unlikely to produce near-term benefits. It believes Wal-Mart's Q4 domestic comps were aided by lower gas prices and easy weather comparisons, and notes that weather is unlikely to help in FY16. The stock closed yesterday down $2.77 to $83.52 after Wal-Mart reported Q4 results.
February 19, 2015
16:28 EDTWMTOn The Fly: Closing Wrap
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15:32 EDTIBMIBM to host investor day
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14:41 EDTJCPJ.C. Penney volatility elevated into Q4 and outlook
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12:45 EDTWMTOn The Fly: Midday Wrap
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10:57 EDTWMTWal-Mart initiatives should help competitive position, says RW Baird
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10:16 EDTAMZNAmazon advances after Munster says margin could jump
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09:35 EDTWMTOption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
09:28 EDTWMTWal-Mart says near 70% of U.S. holiday e-commerce traffic from mobile
On its Q4 earnings call, Wal-Mart management said nearly 70% of walmart.com traffic in the U.S. came via mobile during the recent holiday period.
09:27 EDTWMTWal-Mart says U.S. store traffic positive for first time in 9 quarters in Q4
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08:47 EDTWMTWal-Mart down 1.2% to $85.25 after Q4 earnings beat, FY16 guidance miss
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08:42 EDTWMTWal-Mart sees Q1 Wal-Mart U.S. SSS up 1%-2%
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08:41 EDTWMTWal-Mart says hourly associates to earn at least $10 per hour by Feb. 2016
Doug McMillon, Wal-Mart Stores CEO, announced a new initiative on pay and training for U.S. associates. Approximately 500,000 full-time and part-time associates at Walmart U.S. stores and Sam's Clubs will receive pay raises in the first half of the current fiscal year. Current and future associates will benefit from this initiative, which ensures that Walmart hourly associates earn at least $1.75 above today's federal minimum wage, or $9.00 per hour, in April. The following year, by Feb. 1, 2016, current associates will earn at least $10.00 per hour. As part of today's announcement, Walmart and the Walmart Foundation also committed $100M over five years to help increase the economic mobility for entry level workers by advancing their careers. This initiative will benefit the retail and service industries. The Walmart Foundation will work with other foundations, employers, community colleges and non-profit organizations to address a fundamental challenge in America -- how to better train and advance workers in the retail and adjacent sectors. Today, more than 15 million people, including 7 million women, work in retail.
08:38 EDTWMTWal-Mart sees FY16 operating income pressured by investments
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08:38 EDTWMTWal-Mart lowers FY16 sales growth view to 1%-2% from 2%-4%
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08:36 EDTWMTWal-Mart raises annual dividend 2% to $1.96 per share
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08:34 EDTWMTWal-Mart sees Q1 EPS 95c-$1.10, consensus $1.14
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08:34 EDTWMTWal-Mart sees FY16 EPS $4.70-$5.05, consensus $5.19
08:33 EDTWMTWal-Mart reports Q4 underlying EPS $1.61, consensus $1.54
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07:17 EDTAMZNMaxim to hold a bus tour
Internet/Tech Bus Tour travels throughout Seattle, Washington to various with various industry companies on February 19.
07:12 EDTIBMWharton Health Care Club to hold a conference
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05:47 EDTAMZNAmazon.com price target raised to $475 from $420 at Piper Jaffray
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05:10 EDTWMTWal-Mart February volatility increases into Q4 and outlook
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February 18, 2015
15:53 EDTWMTWal-Mart technical comments ahead of results
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15:35 EDTWMTNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.54... Priceline (PCLN), consensus $10.10... DIRECTV (DTV), consensus $1.40... Noble Energy (NBL), consensus 35c... Host Hotels & Resorts (HST), consensus 39c... Hormel Foods (HRL), consensus 64c... Discovery Communications (DISCA), consensus 41c... SCANA (SCG), consensus 73c... Quanta Services (PWR), consensus 51c... Patterson (PDCO), consensus 59c... Denbury Resources (DNR), consensus 23c... T-Mobile (TMUS), consensus 5c... Linn Energy (LINE), consensus 6c... Linn Co (LNCO), consensus 39c... Bloomin' Brands (BLMN), consensus 27c... Huntington Ingalls (HII), consensus $1.98.
14:31 EDTWMTWal-Mart February volatility elevated into Q4 and outlook
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12:55 EDTWMTEarnings Preview: Wal-Mart sees Q4 EPS $1.46-$1.56, U.S. SSS flat to up 1%
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10:00 EDTJCPJ.C. Penney move higher attributed to real estate speculation
The move higher in shares of J.C. Penney (JCP) is being attributed to speculation the company may look to monetize its real estate assets. The speculation seems to be originating from a Jones Lang LaSalle (JLL) employee's webpage showing the retailer as a client. The JLL employee, Stephen Bridges, specializes in "assisting industrial users with the lease, purchase, and sale of real estate." It is not clear when Penny became a client of JLL. Shares of Penny rallied to a high of $8.50, and are trading up 16c to $8.29 in early trading. Reference Link
09:32 EDTBBYComarco files patent suit against Best Buy
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09:02 EDTAMZNAmazon says has greenlit five new Amazon Original Series
Amazon announced it has greenlit five new Amazon Original Series, including The Man in the High Castle, which is based on the Philip K. Dick alternative history novel; an hour-long dark comedy Mad Dogs; docu-series The New Yorker Presents; along with kids shows Just Add Magic, and The Stinky & Dirty Show.
08:43 EDTAMZNIAC, Qualcomm, Amazon seen as breakup candidates, Bloomberg says
Website holding company IAC/InterActiveCorp (IACI), chipmaker Qualcomm (QCOM), and e-commerce giant Amazon.com (AMZN) are all see by analysts as potential candidates for breakups or spin-offs, according to Bloomberg's "Real M&A" column. Reference Link
February 17, 2015
17:29 EDTIBMBerkshire Hathaway gives quarterly update on stakes, exits Exxon Mobil
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16:00 EDTAMZNOptions Update; February 17, 2015
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13:03 EDTJCPJ.C. Penney volatility elevated into Q4 and outlook
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12:26 EDTIBMIBM launches new storage software
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09:40 EDTAMZNActive equity options trading on open
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09:19 EDTWMTDocument Security files patent infringement claims against Intel, others
DSS Technology Management, a subsidiary of Document Security (DSS), announced the filing of a patent infringement lawsuit against the Intel (INTC); Dell; GameStop (GME); Conn's Inc. (CONN) and Conn Appliances; NEC Corporation of America; Wal-Mart Stores (WMT) and Wal-Mart Stores Texas, and AT&T (T) in the United States District Court for the Eastern District of Texas, Tyler Division. DSS's complaint alleges infringement by Intel, Dell, GameStop (GME), Conn's, NEC, Wal-Mart, and AT&T of US Patents 5,965,924 and 6,784,552, which relate to semiconductor manufacturing.
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