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Stock Market & Financial Investment News

News Breaks
December 19, 2012
11:53 EDTJCP, ANFJ.C. Penney hired former A&F executive for store help, Bloomberg reports
J.C. Penney (JCP) hired Brandon Tonniges, a former Abercrombie & Fitch (ANF) executive, to help with the layout and design of its stories, Bloomberg reports.
News For JCP;ANF From The Last 14 Days
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August 14, 2014
16:01 EDTJCPJ.C. Penney reports Q2 adjusted EPS (75c), consensus (93c)
Reports Q2 revenue $2.8B, consensus $2.79B. Same store sales increased 6.0 %. Online sales through jcp.com were $249M for the quarter, up 16.7 % versus the same period last year.
15:03 EDTJCPNotable companies reporting after market close
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14:24 EDTJCPJ.C. Penney technical comments ahead of earnings
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13:16 EDTJCPJ.C. Penney August 9.5 straddle priced for 11.2% move into Q2
12:00 EDTJCPStocks with call strike movement; JCP KING
J.C. Penney (JCP) November 12 call option implied volatility decreased 2% to 53, King Digital (KING) February 17 call option implied volatility decreased 2% to 52 according to IVolatility.
10:36 EDTJCPEarnings Preview: Analyst sees J.C. Penney reporting positive Q2 comps
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05:54 EDTJCPStocks with implied volatility movement; JCP P
Stocks with implied volatility movement; J.C. Penney (JCP) 67. Pandora (P) 59 according to iVolatility.
August 13, 2014
14:51 EDTJCPJ.C. Penney August 9.5 straddle priced for 11.2% move into Q2
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11:56 EDTJCPStocks with call strike movement; JCP DDD
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11:46 EDTJCPMacy's shares trading lower as Q2 results fall short of expectations
Shares of Macy's (M), a retailer that sells a range of merchandise, including apparel, accessories and home furnishings, are lower after the company's second earnings missed analysts' expectations. WHAT'S NEW: The company reported Q2 earnings per share 80c on revenue of $6.23B, falling short of analysts' estimates of 86c and $6.3B, respectively. Comparable sales were up 3.4% for the quarter and comparable sales together with comparable sales of departments licensed to third parties were up 4%. Chief Executive Officer Terry Lundgren noted that even with an improved sales trend in Q2, the company could not make up its sales shortfall from the first quarter. Looking ahead, Macy's reaffirmed its fiscal year 2014 EPS view of $4.40-$4.50 against estimates of $4.47, but cut its FY14 SSS view to 1.5%-2% from 2.5%-3%. Second half same store sales are expected to be up 2%-3%, and the company said expectations for the second half of the year are "on track." Lundgren said the company is approaching 2H with "confident optimism." WHAT'S NOTABLE: On the company's earnings conference call, Macy's Chief Financial Officer Karen Hoguet said the retail expects third quarter SSS to be lower than fourth quarter, adding that it "feels good" about the back half of the year. Macy's said that it sees fall season EPS, or the combined EPS for Q3 and Q4, of $3.04-$3.14 and expects total sales for the second half of the year to be about 30 basis points lower than comp growth. Macy's sees gross margins flat to down slightly for the year and fall season. ANALYST OPINION: This morning, UBS analysts said the Q2 miss could signal Macy's have been unable to generate incremental margin support from brands into increasingly promotional sales trends. Morgan Stanley analysts, meanwhile, believes the Q2 miss and the pullback in shares will be temporary and it presents a buying opportunity. The firm expects more margin misses over the next few weeks due to the promotional environment and remains convinced that Macy's key strategies are still in the early stages of delivering results. PRICE ACTION: In late-morning trading, shares of Macy's dropped $2.89, or 4.84%, to $56.88. OTHERS TO WATCH: J.C. Penney (JCP), which reports earnings tomorrow, is down 2.15%. Nordstrom (JWN), which also reports earnings tomorrow, is relatively flat.
August 12, 2014
13:43 EDTJCPEarnings Preview: Analyst sees Macy's lowering EPS, SSS guidance for FY14
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12:31 EDTANFAbercrombie upgraded at Stifel citing better assortment, trimmed costs
Shares of Abercrombie & Fitch (ANF) were upgraded by research firm Stifel this morning, though the retailer's shares are slightly lower in early afternoon trading. WHAT'S NEW: Stifel analyst Richard Jaffe upgraded Abercrombie & Fitch to Buy from Hold, citing the retailer's better merchandise assortment and reshaped cost structure. Jaffe feels that Abercrombie & Fitch had been running with overblown expenses and believes that having a slimmer cost structure will allow the company to influence sales better and boost future EPS. The analyst raised his Q4 EPS estimate to $1.94 from $1.87, his FY14 EPS estimate to $2.50 from $2.43 and his FY15 EPS estimate to $3.40 from $3.14. Over the next year, Jaffe said that he expects A&F shares will be valued for the company's effort to win back customers at its Hollister and Abercrombie stores. Still, he said that Q3 could continue to be a struggle for the retailer due to external obstacles that are still a headwind. The firm maintains a $50 price target on the retailer's shares. WHAT'S NOTABLE: Analysts at Wunderlich also initiated coverage of the stock this morning with a Buy rating and a $48 price target. PRICE ACTION: During early afternoon trading, shares of Abercrombie & Fitch fell 9c, or 0.2%, to $41.47. OTHERS TO WATCH: Rivals to Abercrombie & Fitch include Aeropostale (ARO), Urban Outfitters (URBN), and American Eagle Outfitters (AEO).
10:25 EDTJCPJ.C. Penney August volatility elevated into Q2 and outlook
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10:00 EDTANFOn The Fly: Analyst Initiation Summary
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10:00 EDTANFOn The Fly: Analyst Upgrade Summary
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09:21 EDTANFOn The Fly: Pre-market Movers
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08:42 EDTANFAbercrombie & Fitch initiated with a Buy at Wunderlich
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August 11, 2014
18:07 EDTANFAbercrombie & Fitch upgraded to Buy from Hold at Stifel
Stifel upgraded Abercrombie & Fitch to Buy with a $50 price target citing an improved risk/reward profile given the company's better merchandise assortment and realigned cost structure.
10:19 EDTJCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Outperform from Market Perform at Wells Fargo... Alon USA Partners (ALDW) upgraded to Outperform from Neutral at Credit Suisse... Buenaventura (BVN) upgraded to Buy from Underperform at BofA/Merrill... CNO Financial (CNO) upgraded to Overweight from Equal Weight at Morgan Stanley... Central European Media (CETV) upgraded to Neutral from Sell at Goldman... Cepheid (CPHD) upgraded to Neutral from Cautious at ISI Group... Chuy's (CHUY) upgraded to Outperform from Market Perform at Raymond James... Compressco (GSJK) upgraded to Strong Buy from Market Perform at Raymond James... Concho Resources (CXO) upgraded to Overweight from Equal Weight at Stephens... Frank's International (FI) upgraded to Neutral from Sell at Goldman... Freeport McMoRan (FCX) upgraded to Buy from Hold at Argus... GNC Holdings (GNC) upgraded to Outperform from Neutral at Credit Suisse... Genworth (GNW) upgraded to Equal Weight from Underweight at Morgan Stanley... Gulfport Energy (GPOR) upgraded at Stifel... Huntington Ingalls (HII) upgraded to Buy from Neutral at UBS... Hyatt Hotels (H) upgraded at Stifel... J.C. Penney (JCP) upgraded to Hold from Sell at Craig-Hallum... Kinder Morgan (KMI) upgraded to Buy from Neutral at BofA/Merrill... Krispy Kreme (KKD) upgraded to Outperform from Neutral at Wedbush... Oasis Petroleum (OAS) upgraded to Buy from Neutral at Sterne Agee... PepsiCo (PEP) upgraded to Buy from Neutral at UBS... Regency Centers (REG) upgraded to Neutral from Underperform at BofA/Merrill... SandRidge Energy (SD) upgraded to Reduce from Sell at KLR Group... Southwest Gas (SWX) upgraded to Buy from Hold at Brean Capital... Tesla (TSLA) upgraded to Buy from Hold at Deutsche Bank.
09:10 EDTJCPJ.C. Penney upgraded to Hold from Sell at Craig-Hallum
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