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Stock Market & Financial Investment News

News Breaks
May 16, 2014
12:19 EDTJCP, JWN, KSS, MJ.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
Check below for free stories on JCP;JWN;KSS;M the last two weeks.
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September 18, 2014
06:12 EDTKSSKohl's upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Kohl's to Buy on expectations the company's comp store sales and margins will improve due to better product assortment, loyalty program leverage and inventory management. Citi raised its price target for shares to $70 from $63.
September 17, 2014
09:01 EDTKSSKohl's to hire over 67K associates this holiday season
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September 15, 2014
11:51 EDTJCPStocks with call strike movement; TWTR JCP
Twitter (TWTR) November 57.50 call option implied volatility increased 4% to 54, J.C. Penney (JCP) October 12 call option implied volatility increased 8% to 52 according to IVolatility.
08:32 EDTMMacy's, Bloomingdales to launch same-day delivery in fall 2014
Macy’s (M) outlined its latest advancements in omnichannel strategy and technology as the company continues to add new dimensions for attracting shoppers and serving the needs of individual customers. Macy’s and Bloomingdale’s will help launch Apple (AAPL) Pay, same-day delivery to be piloted in fall 2014, new POS technology and customer service enhancements in testing, new apps, web functionality and mobile wallet launched, and its RFID is being expanded to fashion categories.
September 12, 2014
07:44 EDTJCPJ.C. Penney volatility low into company hosted analyst day
J.C. Penney September call option implied volatility is at 40, October is at 42, November is at 45, January and February is at 41; compared to its 26-week average of 53 according to Track Data suggesting decreasing price movement into a company hosted analyst day event on October 8.
September 11, 2014
10:00 EDTMOn The Fly: Analyst Downgrade Summary
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09:18 EDTMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: lululemon (LULU), up 15%... Sigma Designs (SIGM), up 7%. ALSO HIGHER: JDSU (JDSU), up 13.8% after announcing that it will separate into two publicly traded companies... Wet Seal (WTSL), up 4.5%, upgraded at B. Riley following Q2 earnings results... Gogo (GOGO), up 5% after announcing partnership with T-Mobile (TMUS)... Digital Ally (DGLY), up 8.4% after announcing plans to introduce "bullet camera" option at October police conference. DOWN AFTER EARNINGS: Restoration Hardware (RH), down 5%... Five Below (FIVE), down 5.6%. LOWER: Radio Shack (RSH), down 8% after reporting Q2 losses, stating that it may need to pursue bankruptcy... E2open (EOPN), down 29%, downgraded at Pacific Crest and Northland after the company announced preliminary Q2 earnings results... Twitter (TWTR), down 1% after announcing that it will offer $1.3B in convertible unsecured senior notes... Crocs (CROX), down 2.6% after downgraded at Buckingham... Macy's (M), down 1.3% after downgraded at Sterne Agee.
08:19 EDTMMacy's downgraded at Sterne Agee
As noted earlier, Sterne Agee downgraded Macy's to Neutral from Buy. As reasons for the downgrade, the firm cited valuation and its belief that the company's SSS and EBIT growth are unlikely to accelerate. Target $62.
06:05 EDTMMacy's downgraded to Neutral from Buy at Sterne Agee
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September 10, 2014
11:43 EDTKSS, JCPLand's End soars after better than expected Q2 results
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07:01 EDTKSSKohl's announces Juicy Couture now available at stores nationwide
Kohl’s announced that Juicy Couture is now available at Kohl’s stores nationwide and Kohls.com/JuicyCouture. Kohl’s is supporting the launch of Juicy Couture with a marketing campaign that includes a new partnership with Refinery29. For the first time, Kohl’s is engaging the influential and popular online lifestyle destination to partner with key trend-setting bloggers and to host celebratory events. There will also be print, broadcast and digital advertising and social initiatives.
September 9, 2014
14:54 EDTMApple announces Apple Pay
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07:16 EDTJCPSterne Agee to hold a field trip
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September 8, 2014
11:15 EDTJCPJ.C. Penney volatility at 27-month low
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September 4, 2014
09:16 EDTKSSPVH Corp. says 'cautiously optimistic' about 2H14
PVH Corp. (PVH) sees continued momentum of 5% whole sale growth for the spring season in its Tommy Hilfiger business. Says seeing early signs of positive consumer reception in European and Asian markets in its jeans business. Says Heritage business seeing pressure from promotional retail environment, but the unit remains well positioned for "strong growth" in the future. Says Izod brand is set to launch at all major Kohls (KSS) stores. Believes that this launch will drive the company's turnaround plan in 2H14. Says "well positioned" for targeted earnings growth. Says August sales trends in Calvin Klein and Tommy Hilfiger are currently ahead of sales plan. Continues to see debt pay-downs on track for $400M for the year. Comments made during the company's Q2 earnings conference call.
09:01 EDTJWNNordstrom board authorizes $1B share repurchase program
Nordstrom announced that its board of directors has authorized a repurchase program of up to $1B of the company’s outstanding common stock, through March 1, 2016. The company intends to fund the repurchase program from existing cash on hand. The actual number and timing of share repurchases, if any, will be subject to market conditions and applicable Securities and Exchange Commission rules. This program is in addition to the company’s existing repurchase program that was approved by the board in February 2013. The existing repurchase program has $323Mn outstanding as of September 3, 2014, and will expire on March 1, 2015.

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