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Stock Market & Financial Investment News

News Breaks
May 16, 2014
12:19 EDTKSS, JWN, M, JCPJ.C. Penney soars following better than expected Q1 results
Shares of retailer J.C. Penney (JCP) are rising after reporting better than expected first quarter results. WHAT'S NEW: Last night, J.C. Penney reported Q1 earnings per share of ($1.16) and revenue of $2.8B, topping consensus views of ($1.25) and $2.71B, respectively. The company’s Q1 same store sales increased 6.2%. WHAT’S NOTABLE: J.C. Penney forecast Q2 SSS up mid-single digits, while Q2 gross margin was expected to improve sequentially. For FY14, the company expects SSS up mid-single digits, while gross margin is seen improving significantly year over year. The company also announced it obtained a $2.35B senior secured ABL credit facility to replace its existing $1.85B ABL bank line, which matures in April 2016. ANALYST REACTION: This morning, analyst commentary was mixed. Deutsche Bank raised its price target on J.C. Penney to $10 from $6 citing the company's "very impressive" Q1 results. The firm noted the quarter had the easiest same-store-sales comparison of the year, and it kept a Hold rating on the stock. Contrarily, Credit Suisse remained cautious on J.C. Penney. Credit Suisse said it was encouraged by J.C. Penney's progress, but remained cautious on the shares given the difficulty in predicting consistent profitability in the challenging lower-end retail environment. Shares were Underperform rated with a $7 price target. PRICE ACTION: In early afternoon trading, J.C. Penney gained $1.18, or about 14%, to $9.55 on heavy trading volume. Despite today’s advance, the stock has lost approximately 49% over the past twelve months. OTHERS TO WATCH: Others in the retail space include Nordstrom (JWN), Kohl’s (KSS), and Macy’s (M).
News For JCP;JWN;KSS;M From The Last 14 Days
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December 19, 2014
09:37 EDTJCPActive equity options trading
Active equity options trading according to Track Data: AAPL TSLA BBRY AMZN CELG GILD JCP AMAT FB
09:20 EDTMMacy's sales soft through mid-December, says Cleveland Research
Cleveland Research said Macy's sales are tracking in the range of +1% to +2% through mid-December, vs. consensus of +2.2%. The firm said soft customer traffic trends remain the primary headwind for the quarter. Shares are Buy rated.
December 16, 2014
10:48 EDTKSSKohl's initiated with a Market Perform at Cowen
Target $64.
10:41 EDTMMacy's initiated with an Outperform at Cowen
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December 15, 2014
09:38 EDTJCPActive equity options trading
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December 9, 2014
10:23 EDTMOn The Fly: Analyst Downgrade Summary
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08:14 EDTMMacy's downgraded at Atlantic Equities
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08:06 EDTMMacy's downgraded to Neutral from Overweight at Atlantic Equities
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08:02 EDTKSSKohl's to keep doors open for over 100 hours straight from Dec. 19-Dec. 24
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