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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
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September 30, 2014
12:08 EDTJCPStocks with call strike movement; JCP EWZ
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11:44 EDTJCPOptions with increasing implied volatility
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September 29, 2014
11:40 EDTJCPOptions with increasing implied volatility
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08:01 EDTMMacy's to hire 86,000 seasonal associates in 2014
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September 26, 2014
10:58 EDTMFinish Line left out of sports footwear rally after earnings miss
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09:12 EDTMFinish Line cites assortment 'blip' for Q2 performance
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07:12 EDTMFinish Line says Q2 results fell short due to basketball offering 'softness'
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September 25, 2014
11:22 EDTKSS, MSkechers rebounds after refuting Barrington research report
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05:31 EDTJWNNordstrom store in Canada off to strong start, says Deutsche Bank
Deutsche Bank says the feedback received regarding Nordstrom's first store opening in Canada has been "particularly favorable." Deutsche expects Canada to eventually add 30c-40c to Nordstrom's bottom line and contribute up to $6 in value to the stock. The firm reiterates a Buy rating on the name with a $77 price target.
September 22, 2014
11:38 EDTJCPStocks with call strike movement; JCP TWTR
J.C. Penney (JCP) February 12 call option implied volatility increased 5% to 45, Twitter (TWTR) January 62.5 call option implied volatility increased 4% to 46 according to IVolatility.
September 18, 2014
12:07 EDTJCPStocks with call strike movement; JCP FB
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10:00 EDTKSSOn The Fly: Analyst Upgrade Summary
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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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