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Stock Market & Financial Investment News

News Breaks
November 9, 2012
16:37 EDTSTRA, PCLN, DIS, DTSI, KYAK, JCP, ISIS, GRPNOn 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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May 13, 2015
16:13 EDTJCPJ.C. Penney narrows FY15 SSS view to up 4%-5% from up 3%-5%
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16:09 EDTJCPJ.C. Penney reports Q1 EPS (57c), consensus (77c)
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15:15 EDTJCPJ.C. Penney May 9 straddle priced for 8.2% movement into Q1
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15:04 EDTJCPNotable companies reporting after market close
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12:54 EDTJCPEarnings Watch: J.C. Penney sees Q1 SSS up 3.5%-4.5%
J.C. Penney (JCP) is scheduled to report first quarter earnings after the market close on Wednesday, May 13, with a conference call scheduled for 4:30 pm ET. J.C. Penney operates about 1,100 retail stores and jcp.com. EXPECTATIONS: Analysts are looking for a loss per share of (77c) on revenue of $2.87B, according to First Call. The consensus range for EPS is (96c)-(61c) on revenue of $2.78B-$2.92B. LAST QUARTER: J.C. Penney reported fourth adjusted earnings per share of breakeven against estimates for 11c, on revenue of $3.89B against estimates for $3.87B. Comparable store sales were up 4.4%. The company forecast fiscal year 2015 SSS up 3%-5% and said it expected gross margin to improve 50 to 100 basis points versus 2014 and free cash flow to be flat. On its Q4 earnings conference call, the company said that it expected Q1 sales to be impacted less than 1% due to the West Coast port slowdown. NEWS: On March 17, AdAge said Chief Marketing Officer Debra Berman would leave the company immediately. Later that day, Bloomberg reported that General Cousnel Janet Dhillon would also leave the company, which was confirmed by J.C. Penney on March 20. On April 28, J.C. Penney appointed Mary Beth West as executive vice president and Chief Customer & Marketing Officer, effective June 1. In an April regulatory filing, J.C. Penney said it became aware that a senior company official "inadvertently sent an e-mail communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for Q1 to date, which are approximately 6%." The company said it expects Q1 SSS up 3.5%-4.5%, which takes into account the shift of Easter into March. The retailer said it would introduce Sephora to 25 additional stores starting on May 1. In April, New York Attorney General Eric Schneiderman sent letters warning J.C. Penney and other retailers that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. STREET RESEARCH: Following the release of J.C. Penney's Q4 results, Deutsche Bank said J.C. Penney remained a "show me story" until liquidity is improved. Craig-Hallum said J.C. Penney's 2015 gross margin outlook supports its view the company's 2017 financial targets are "unattainable." In March, JPMorgan raised its price target for the retailer to $10 from $8 and said management expressed confidence in the company’s ability to reach its 2017 EBITDA target of $1.2B. Baird said J.C. Penney's business is on "more stable footing," but believes meaningful free cash flow growth will be challenging. PRICE ACTION: Over the last three months, J.C. Penney shares are up over 7.45%. In early afternoon trading ahead of Wednesday's Q1 report, J. C. Penney is down 2.5% to $8.66.
11:41 EDTDISDisney CFO says gas prices have 'zero bearing' on park attendance
Disney CFO Jay Rasulo is speaking at the MoffettNathanson Media & Communications Summit.
05:38 EDTDISAlibaba announces partnership with Disney
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May 12, 2015
16:01 EDTJCPOptions Update; May 12, 2015
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12:37 EDTSTRAFor-profit education stocks slide after SEC charges ITT with fraud
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11:37 EDTJCPStocks with call strike movement; TWTR JCP
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08:31 EDTDISApple likely to launch TV video service this year, says Pacific Crest
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08:04 EDTDISDisney price target raised to $120 from $105 at Deutsche Bank
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06:41 EDTDISTV networks touting digital, targeting technologies to marketers, NY Times says
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May 11, 2015
16:38 EDTDTSIDTS, Inc. sees 2015 EPS $1.65-$1.75, consensus $1.71
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16:37 EDTDTSIDTS, Inc. reports Q1 EPS 27c, consensus 26c
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16:00 EDTJCPOptions Update; May 11, 2015
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10:17 EDTGRPNOptions with decreasing implied volatility
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06:33 EDTDISTV networks worried amid tough competition from digital outlets, NY Times says
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May 10, 2015
18:05 EDTDISFCC contract ruling may speed review of AT&T-DirecTV merger, WSJ says
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17:35 EDTDISDisney's 'Avengers: Age Of Ultron' leads U.S. weekend box office with $77.2M
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