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Stock Market & Financial Investment News

News Breaks
November 9, 2012
16:37 EDTISIS, GRPN, STRA, PCLN, DIS, DTSI, KYAK, JCPOn the Fly: Closing Wrap
Stocks on Wall Street were fractionally higher on the day, putting an end to consecutive selloffs following Tuesday night's election, and capping a volatile week for the averages. Stocks opened the day lower but quickly moved into positive territory, and while a mild selloff during President Obama's midday remarks regarding the fiscal cliff sent the market lower, the averages were able to maintain some gains and finish positive for the session... ECONOMIC EVENTS: In the U.S., import prices rose 0.5% in October from the prior month, versus expectations for them to be flat. The preliminary University of Michigan consumer sentiment reading for November came in at 84.9, versus the expected 82.9. Wholesale inventories were reported to have increased 1.1% in September, versus expectations for an increase of 0.4%. Also, the Congressional Budget Office estimated that going over the fiscal cliff would cut U.S. economic output by about 3%, driving the nation back into recession next year. President Obama made his first public comments since the election regarding the fiscal cliff and said that he would not accept a deficit reduction plan that did not include revenue hikes. However, Senate Minority Leader Mitch McConnell said Republicans would not agree to increased taxes for any payers... COMPANY NEWS: Shares of J.C. Penny (JCP), Walt Disney (DIS), and Groupon (GRPN) all traded lower following the release of their quarterly earnings. Shares of J.C. Penny were down $1.05, or 4.84%, to $20.64 after the company's EPS and revenue both missed consensus estimates and the company reported same store sales were down 26.1% in Q3. Disney fell $2.98, or 5.96%, to $47.06 after reporting their quarterly earnings after yesterday's close. Shares of Groupon were down $1.16, or 29.59%, to $2.76 after earnings missed consensus estimates and the stock received at least four analyst downgrades and three lowered price targets... MAJOR MOVERS: Among the notable gainers were shares of Kayak Software (KYAK), up $8.63, or 27.80%, to $39.67, after agreeing to be acquired by Priceline.com (PCLN) in a stock and cash transaction equivalent to $40 per share of Kayak stock. Shares of Priceline were fractionally lower after the announcement, down $2.00, or 0.32%, to $625.87. Also higher on the day were shares of Isis Pharmaceuticals (ISIS), up $1.11, or 14.47%, to $8.78 after the stock was upgraded to Outperform from Neutral at Cowen, citing a favorable valuation and optimism surrounding its antisense platform and pipeline. Among noteworthy losers were shares of DTS Inc (DTSI), down $5.82, or 28.23%, to $14.80 after the company reported earnings that missed consensus estimates and lowered its FY12 and FY13 revenue view. Also lower were shares of Strayer Education (STRA), down $9.66, or 17.20%, to $46.51 after its full-year earnings outlook was well below consensus estimates and the company suspended its dividend... INDICES: The Dow was up 4.07, or 0.03%, to 12,815.39; the S&P 500 was up 2.34, or 0.17%, to 1,379.85; the Nasdaq was up 9.29, or 0.32%, to 2,904.87.
News For JCP;DIS;GRPN;KYAK;PCLN;ISIS;DTSI;STRA From The Last 14 Days
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November 11, 2014
05:58 EDTPCLNStocks with implied volatility below IV index mean; PCLN V
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November 10, 2014
16:22 EDTDTSIDTS, Inc. raises 2014 EPS outlook to $1.48-$1.55, consensus $1.47
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16:21 EDTDTSIDTS, Inc. reports Q3 EPS 39c, consensus 27c
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16:07 EDTISISIsis Pharmaceuticals files to sell $425M in convertible senior notes due 2021
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15:57 EDTDISWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
13:05 EDTJCPJ.C. Penney November volatility elevated into Q3 and holiday outlook
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12:36 EDTJCPAbercrombie, American Eagle sink after analyst downgrades
Shares of specialty teen apparel retailers Abercrombie & Fitch (ANF) and American Eagle Outfitters (AEO) are falling after a number of analysts issued negative notes on the companies. WHAT'S NEW: Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Perform from Outperform. The company's earnings outlook has become less clear as its U.S. brand has not yet become popular, and retail brand turnarounds usually take awhile, Oppenheimer analyst Anna Andreeva wrote in a note to investors. Additionally, Abercrombie's international business, which has deteriorated further this year, faces "mounting uncertainty,” the analyst stated. The analyst slashed her price target on the name to $30 from $50. Meanwhile, Barclays analyst Matthew McClintock downgraded American Eagle Outfitters to Equal Weight from Overweight. McClintock has become more pessimistic about the outlook for American Eagle's comparative store sales in the second half of 2014, given recent data points from a number of retailers, including Abercrombie & Fitch, Kohl's (KSS), Wal-Mart (WMT), J.C. Penney (JCP), and Ann Inc. (ANN). The analyst said he saw no reason why American Eagle should significantly outperform the overall apparel sector. McClintock cut his price target on the name to $11 from $15. Meanwhile, the analyst lowered his rating on the Softline Retail sector to Negative from Positive, as he believes that the sector, which includes companies that sell products like apparel, towels, and jewelry - is facing structural difficulties that are likely to persist for the next several years. Separately, research firm Janney Capital downgraded Abercrombie to Neutral from Buy in a note to investors today. PRICE ACTION: In early afternoon trading, Abercrombie & Fitch sank 3.5% to $28.50 and American Eagle dropped 4% to $12.40.
09:20 EDTJCPOn The Fly: Pre-market Movers
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05:59 EDTPCLNPriceline guidance cuts usually buying opportunities, says Piper Jaffray
Piper Jaffray says that over the last six years there have been three other instances where Priceline guided the mid-point of bookings growth more than 500 basis points below consensus, and that each time proved to be "excellent opportunities to buy" the stock. Piper reiterates an Overweight rating on Priceline after the company guided Q4 well below consensus on November 4.
November 9, 2014
16:36 EDTDISDisney's 'Big Hero 6' comes out on top at box office, Bloomberg says
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November 8, 2014
20:20 EDTJCPJ.C. Penney could drop 35%, Barron's says
J.C. Penney shares could drop 35% if the company misses on sales growth estimates, Barron's contends in a feature article. Reference Link
November 7, 2014
18:00 EDTDISDisney still remains a Buy, Barron's reports
Despite falling modestly after posting slightly better than expected fourth quarter results, Disney remains a buy, Barron's reports. The company's long term growth prospects are excellent, underpinned by robust Park attendance trends, a strong movie lineup, and technology leadership, Barron's added. Reference Link
16:24 EDTDISOn The Fly: Closing Wrap
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12:20 EDTDISOn The Fly: Midday Wrap
Stocks on Wall Street opened in relatively quiet fashion and trading has remained that way throughout the morning. The highly anticipated nonfarm payrolls report showed fewer than expected jobs were added last month, but the figures from the prior two months were also upwardly revised. The market has moved in a narrow range and for the most part has remained near the flat line, with the S&P and Dow little changed and the Nasdaq lagging near noon. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 214K in October, which was below the consensus estimate for 235K jobs to have been added. However, back revisions boosted September's job gain to 256K from the 248K previously reported, while August's prior 180K reading was pushed up to 203K. The unemployment rate slid to 5.8% from 5.9%, its lowest level since July 2008. Later this afternoon, the Federal Reserve Board’s report on consumer credit growth in September is expected, with total credit projected to grow $16B. COMPANY NEWS: Shares of Disney (DIS) led all decliners on the Dow, as the stock fell 2.5% after the company reported earnings and revenue for its fourth quarter that were nearly in-line with consensus estimates. Along with its report, the company confirmed 2015's Star Wars movie will be entitled "The Force Awakens" and announced plans for another sequel in the "Toy Story" franchise. MAJOR MOVERS: Among the notable gainers was ChannelAdvisor (ECOM), which rose 46% after delivering generally in-line Q3 results, giving better than expected fiscal year revenue guidance and announcing the acquisition of U.K. based E-Tale Holdings. Also higher were shares of Sears Holdings (SHLD), which jumped 26% after the company disclosed it is actively exploring a REIT transaction involving 200-300 owned properties through a rights offering to shareholders. Among the noteworthy losers was Salix (SLXP), which plunged 36% and was downgraded by at least four firms after the company reported worse than expected Q3 results, gave lower than expected guidance and announced its CFO had resigned amid the company revising its view of the current inventory levels for its drugs. Also lower were shares of Intercept Pharmaceuticals (ICPT), which fell 33% after results from the FLINT trial evaluating obeticholic acid, or OCA, for the treatment of nonalcoholic steatohepatitis, or NASH, were published in The Lancet. Oppenheimer said it believes that data disclosed last night was in-line with previous data from Intercept, but that a Bloomberg story "cherry picked" negative aspects of the data, contributing to the share decline. INDEXES: Near midday, the Dow was virtually unchanged at 17,555.12, the Nasdaq was down 13.72, or 0.3%, to 4,624.75, and the S&P 500 was up 0.42, or 0.02%, to 2,031.63.
08:58 EDTGRPNGroupon to host investor and analyst day
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08:35 EDTJCPJ.C. Penney November volatility elevated into Q3 and holiday outlook
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08:33 EDTISISIsis Pharmaceuticals reports Q3 EPS (23c), consensus (20c)
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08:11 EDTDISOptions expected to be active
Options expected to be active @ CBOE: DIS FSLR RIG RMTI SLXP ZNGA PBR SHLD CP CSX NSC NVDA FSLR
08:01 EDTDISMylan signs alliance agreement with Disney Parks to enhance EpiPen access
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05:54 EDTPCLNStocks with implied volatility below IV index mean; PCLN V
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