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Stock Market & Financial Investment News

News Breaks
December 27, 2012
04:56 EDTMDLZ, KRFT, IBMIBM, Kraft Foods extend SAP engagement until Sep. 2015
IBM (IBM) and Kraft Foods (KRFT), part of the Mondelez International group of companies (MDLZ), announced the extension of their engagement until September 2015 to continue helping Kraft in their strategy of implementing three SAP instances globally in three years. This includes the roll-out of a corporate template to harmonize business process across their Developing Markets in CEE and MEA.
News For IBM;KRFT;MDLZ From The Last 14 Days
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May 26, 2015
07:17 EDTIBMConsumer Electronics Association to hold a conference
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May 25, 2015
12:55 EDTIBMQAD selects IBM cloud to expand services for Australian, New Zealand clients
QAD (QADA, QADB) announced it has chosen IBMís (IBM) Cloud Centre in Sydney, Australia to expand hosting options for QAD Cloud ERP customers. The expansion of data center services is in response to demand from Australian and New Zealand companies transitioning from on premise ERP to Cloud ERP.
May 21, 2015
15:10 EDTIBMEarnings Watch: HP buys Aruba, forms Chinese joint venture with split nearing
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May 20, 2015
08:27 EDTIBMIBM unit sale to Lenovo raises saftey concerns for Navy, WSJ reports
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08:18 EDTKRFTKeurig Green Mountain downgraded at Argus on 2.0 brewer challenges
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05:57 EDTIBMSAP CEO says Salesforce unlikely to be acquired, Reuters reports
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May 19, 2015
13:05 EDTIBMSalesforce deal talks may have 'died down,' dealReporter says
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12:47 EDTKRFTEarnings Watch: Target sees FY15 adjusted EPS $4.45-$4.65, 2%-3% sales growth
Target (TGT) is scheduled to report first quarter results before the market open on Wednesday, May 20, 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 $1.03 on revenue of $17.09B, according to First Call. The consensus range for EPS is 85c-$1.09 on revenue of $16.98B-$17.25B. LAST QUARTER: Target reported fourth quarter adjusted EPS of $1.50 on revenue of $21.75B, beating analysts' estimates for $1.46 and $21.63B, respectively. The company said comparable sales increased 3.8% in Q4, reflecting a 3.2% increase in comparable transactions. Target said digital channel sales contributed 0.9 percentage points to SSS growth. Target forecast Q1 adjusted EPS 95c-$1.05, SSS up about 2% and said its top priority is to drive digital sales growth. The company said it could be in a position to revisit stock buybacks later this year and noted that its workers' wages are "competitive." NEWS: At its Financial Community Meeting on March 3, Target forecast fiscal year 2015 adjusted EPS $4.45-$4.65, against estimates at that time for $4.50, on sales growth of 2%-3% for the fiscal year. The company also forecast 10% annual EPS growth for 2016 and beyond, as well as 5%-10% annual dividend growth. Target forecast $2B in savings in expenses and cost of goods over the next two years and 9.5%-10% EBITDA margins over the next five years. As for share repurchases, Target sees $2B this year, and said it continues to support the dividend and repurchase "billions." Looking to FY15, Target forecast FY15 capital expenditures of $2.1B and sees expected CapEx of $2B-$2.5B over the next five years. Target said its gross margin rate of 29.5% is "achievable." Target said it would focus on categories including style, baby, kids and wellness. As part of its $2B cost savings plan, Target said it will cut "several thousand jobs." Target said in a filing that on March 10, the company notified approximately 1,700 employees whose employment will be terminated as part of an overall plan to transform Targetís business. The company said it expects to incur severance costs of $10M. During the quarter, Target said it planned to raise its minimum pay for all workers to at least $9 an hour starting in April, according to The Wall Street Journal, and agreed to pay $10M to settle a class action lawsuit related to its 2013 data breach, Reuters reported. Target reached a settlement with MasterCard (MA) to resolve claims by MasterCard and its issuers related to the retailerís 2013 data breach. Under the agreement, Target will make available up to $19M in alternative recovery offers to eligible banks and credit unions across the globe. Target Canada said it would close the last 133 retail stores by April 12. Target also announced plans to sell its Target Commercial Interiors subsidiary to Omni Workspace. The retailer launched the Lilly Pulitzer for Target collection in April, which rendered its website inaccessible for short time after it was overwhelmed by customer traffic, The WSJ said. The WSJ also reported that, according to sources, Target gave notice to Campbell Soup (CPB), General Mills (GIS), Kellogg (K), Kraft Foods (KRFT) and others that it will reduce their presence in Target circulars and in-store advertisements. STREET RESEARCH: Following Target's analyst meeting, Wells Fargo said it thinks the company's operating plan sets the stage for the company to potentially beat expectations in 2015 and beyond. The firm believes that"outsized digital growth" or new products could enable Target's results to beat expectations. Piper Jaffray views Target's long term earnings algorithm, which is based on a 1% store comp and 40% growth in digital sales annually, as realistic and the company's capital deployment as encouraging. BofA/Merrill upgraded Target to Buy from Neutral in April and increased its price target to $92 from $86. The firm believes Target is well positioned to benefit from an improving middle-income core customer base. The firm said customers are responding well to improved assortment and merchandising and expects Target to continue to see increased spending at stores and online as customers trade-up to more expensive items. PRICE ACTION: Target shares are up over 1.6% over the past three months. In early afternoon trading ahead of Wednesday's earnings report, shares are down 0.51% to $77.96.
09:03 EDTIBMIBM and United Business Group partner to accelerate hybrid cloud adoption
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07:34 EDTIBMIBM invests in WayBlazer and Sellpoints
IBM announced two new investments in WayBlazer and Sellpoints to advance online travel and shopping apps powered by Watson. The announcement is part of IBM's $100M commitment to drive new innovations and business solutions that build on Watson and follows the company's recent investments in Modernizing Medicine and Pathway Genomics. The financial terms of IBM's investments were not disclosed.
05:33 EDTMDLZMondelez Cocoa Life sustainability program fully operational in Indonesia
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May 18, 2015
07:27 EDTIBMJPMorgan to hold a conference
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May 17, 2015
19:11 EDTKRFTTarget to reduce advertising space for certain large brands, WSJ says
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May 15, 2015
17:07 EDTMDLZTrian Fund gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: PepsiCo (PEP), Mondelez (MDLZ), Bank of New York Mellon Group (BK), and Du Pont (DD). DECREASED STAKES: Family Dollar (FDO), and Ingersoll-Rand (IR). LIQUIDATED STAKES: Lazard (LAZ).
16:32 EDTIBMBerkshire Hathaway gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: IBM (IBM), Precision Castparts (PCP), Wells Fargo (WFC), Phillips 66 (PSX), and US Bancorp (USB). DECREASED STAKES: National Oilwell Varco (NOV), Viacom (VIAB), Bank of New York Mellon (BK), MasterCard (MA), and Visa (V). LIQUIDATED STAKES: None.
May 13, 2015
09:03 EDTIBMIBM partners with Teleflora for large florists network
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