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Stock Market & Financial Investment News

News Breaks
February 24, 2012
12:10 EDTKND, CVLT, CSCO, GPS, CRM, DELL, CROX, JCP, MMSI, NDSN, AAPL, DECKOn The Fly: Mid-Day Wrap
Stocks on Wall Street were higher at mid-day, with the Dow again clinging to the 13,000 level. Each of the major indices is near its high of the day at the lunch hour. The new home sales report showed its first decline in four months while the consumer confidence reading was above expectations. Neither had a great effect on the market as it continues its daily pattern from the last two weeks of moving in a narrow trading range, but the general trend continues to be higher... ECONOMIC EVENTS: In the U.S., the final University of Michigan Consumer Confidence reading for February was 75.3, exceeding expectations of 73.0. New home sales declined 0.9% in January, but December's figures were revised higher, resulting in a seasonally adjusted 321,000-unit annual rate. Economists had expected sales at a 315,000-unit rate... MARKET NEWS: J.C. Penney (JCP) reported adjusted profits that beat expectations but shares were just about flat near noon. A number of other retailers declined following their reports, with Gap (GPS), Deckers Outdoor (DECK) and Crocs (CROX) all lower... A number of big tech companies announced acquisitions, with Cisco Systems (CSCO) buying Lightwire for $271M, Apple (AAPL) acquiring app-search engine Chomp for an undisclosed amount, and Dell (DELL) purchasing back-up software maker AppAssure Software. A drop in shares of CommVault Systems (CVLT) was attributed to Dell's news, as CommVault may lose some Dell business following the deal and had been viewed as a potential buyout target... MAJOR MOVERS: Among the notable gainers were Nordson (NDSN) and Salesforce.com (CRM), after their earnings reports. Noteworthy losers included Kindred Healthcare (KND) and Merit Medical (MMSI), following reports that disappointed... INDICES: Near noon, the Dow was up 20.24, or 0.16%, to 13,004.93; the Nasdaq was up 10.83, or 0.37%, to 2,967.81; and the S&P 500 was up 4.73, or 0.35%, to 1,368.19.
News For JCP;GPS;DECK;CROX;CSCO;AAPL;DELL;CVLT;NDSN;CRM;KND;MMSI From The Last 14 Days
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November 12, 2014
16:09 EDTJCPJ.C. Penney reports Q3 gross margin 36.6%
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16:08 EDTJCPJ.C. Penney sees 2014 SSS 3.5 % to 4.5 %
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16:07 EDTCSCOCisco repurchased approximately 41M shares of common stock in Q1
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16:06 EDTJCPJ.C. Penney sees Q4 SSS to increase 2 %-4 %
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16:06 EDTCSCOCisco reports Q1 cash flow from operations $2.5B
Cash flows from operations were $2.5B for the first quarter of fiscal 2015, compared with $3.6B for the fourth quarter of fiscal 2014, and compared with $2.6B for the first quarter of fiscal 2014.
16:05 EDTJCPJ.C. Penney reports Q3 EPS (77c), consensus (80c)
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16:05 EDTCSCOCisco reports Q1 adjusted EPS 54c, consensus 53c
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16:00 EDTAAPLOptions Update; November 12, 2014
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15:29 EDTCSCO, JCPNotable companies reporting after market close
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15:08 EDTCSCOEarnings Preview: Cisco reports amid analyst debate on break-up potential
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13:32 EDTJCPEarnings Preview: J.C. Penney lowered Q3 SSS view, affirms FY14 metrics in Q3
J.C. Penney (JCP) is scheduled to report third quarter earnings after the market close on Wednesday, November 12, 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 (80c) on revenue of $2.81B, according to First Call. The consensus range for EPS is (95c)-(54c) on revenue of $2.72B-$2.93B. LAST QUARTER: J.C. Penney reported second quarter adjusted EPS of (75c) against estimates for (93c), on revenue of $2.8B against estimates for $2.79B. Comparable store sales increased 6% for the quarter and online sales through jcp.com were up 16.7% from the year-ago period to $249M. On its Q2 earnings conference call, the company said that expected a "profitable" sales in the back-to-school season, adding that the company could see some "anomalies" in expense during Q3. NEWS: During the quarter, J.C. Penney announced the appointment of Marvin Ellison, EVP of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board, and succeed Myron E. Ullman, III as CEO of the company on August 1, 2015, at which time Ullman will become executive chairman of the board for a period of one year. At its analyst day in October, the retailer lowered its Q3 SSS view to low single digit growth from its previous view of mid single digit growth. J.C. Penney also warned investors that its September sales were weaker than expected. Despite lowering its SSS forecast, the retailer reaffirmed the rest of its quarterly guidance, including gross margins and SG&A expenses, and maintained all of its fiscal year 2014 guidance metrics, including mid-single digit SSS growth and positive free cash flow. STREET RESEARCH: Cleveland Research said J.C. Penney's challenging sales trends continued in October and is positioning to increase promotional activity during the holiday season. Wells Fargo, which has an Underperform rating on the stock, said that Ellison lacks expertise in apparel and accessories, where J.C. Penney is having a tough time. J.C. Penney shares could drop 35% if the company misses on sales growth estimates, Barron's said. PRICE ACTION: Over the last three months, J.C. Penney shares are down almost 20%. In morning trading today ahead of tonight's Q3 report, J. C. Penney's stock is up almost 6% to $7.61.
13:10 EDTJCPJ.C. Penney November weekly 7.5 straddle priced for 11.8% move into Q3
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13:07 EDTCSCOPacific Crest remains cautious on Cisco
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11:55 EDTCSCOCisco November weekly 25 straddle priced for 4.4% move into Q1
11:51 EDTCSCOCisco technical comments before earnings
The stock has underperformed the broader averages in the past three months, falling over 1%. That lower performance would have been far worse if not for the recent uptrend off the mid-October lows. That rally helped to overcome the otherwise bearish head and shoulders that had developed on the daily chart and had completed at mid-October. In a long view, the current price action appears to put the shares either at a double top, or poised for a breakout that would results in four-year highs or more. The key level is at $26, not far from where the stock is currently trading. On better news or guidance, a move above $26 would seem highly probable and that would constitute a technical bullish breakout. Next resistance would be at $27.74 and then at $28.40. If the news is not as bullish as current price action suggests, the recent uptrend would probably be broken. It would only take a move below $24.50 for that to happen. Additional downside objectives might be at the following supports at $23.76, $22.43 and $21.94. A move down to or below $22 would confirm a major top was in place, which would have long-term bearish implications for price.
10:13 EDTCSCOEZchip expects revenue from Cisco to grow YoY in 2014
Comments taken from Q3 earnings conference call.
09:58 EDTCSCOCisco November volatility increases into Q1 and outlook
Cisco November weekly call option implied volatility is at 77, November is at 34, December is at 23, January is at 19, February is at 20; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on November 12.
09:37 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
08:01 EDTKNDKindred Healthcare to acquire Centerre Healthcare for $195M in cash
Kindred Healthcare announced that it has signed a definitive merger agreement to acquire Centerre Healthcare Corporation, a national company dedicated to operating Inpatient Rehabilitation Hospitals, for a purchase price of approximately $195M in cash. Centerre currently operates 11 Inpatient Rehabilitation Hospitals with 612 beds in partnership with some of the nationís leading acute care hospital systems through joint ventures. Centerre has two additional hospitals with a total of 90 beds under construction and scheduled to open in 2015, and a pipeline of additional potential hospitals in various stages of development.
06:36 EDTAAPLOrder visibility highest for Apple, Lenovo shipments in 2015, DigiTimes says
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