New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 15, 2014
10:30 EDTJCP, JWN, KSS, MJ.C. Penney falls despite posting a narrower than expected Q2 loss
Shares of retailer J.C. Penney (JCP) are lower this morning despite posting a narrower than expected loss for the second quarter. WHAT'S NEW: J.C. Penney's Q2 adjusted earnings per share was a loss of 75c per share, which was better than analysts' consensus of a 93c loss. The company's Q2 revenue came in at $2.8B, which narrowly beat analysts' consensus of $2.79B. Same store sales for the quarter increased 6% and online sales were up 16.7% compared to the same period last year. Chief Executive Myron Ullman said that the company's turnaround initiatives continued to produce improved financial results. WHAT'S NOTABLE: Looking ahead, J.C. Penney forecast third quarter SSS to be up mid-single digits, while Q3 gross margins are expected to fall in line with Q2. SG&A expenses are anticipated to be slightly above last year's levels. For fiscal year 2014, the company expects SSS to be up mid-single digits, while gross margin is seen to improve significantly compared to last year. The retailer is expecting profitable sales this back-to-school season. ANALYST REACTION: Maxim analyst Rick Snyder said that while J.C. Penney had a quarter which surpassed expectations, he still feels that difficult comps lie ahead. Snyder said that even though the company guided free cash flow to be positive, the projection is a one-time inflow and is not likely to be repeated in the coming years. He is modeling free cash flow to be up only modestly even past the end of the year. The firm maintains a Hold rating on the stock. Piper Jaffray analyst Neely Tamminga said that a company turnaround is "very much underway" and that it is poised to regain $2B-$3B of its $6B revenue loss after a management shift. He continues to feel that the retailer is positioned to improve cash flow, sales and margins over time. Tamminga believes that the retailers' positive outlook for Q3 comps indicate an optimistic outlook for back-to-school season. The firm keeps an Overweight rating on the shares with a price target of $12. Wells Fargo analyst Paul Lejuez said that even though gross margin comps proved notably and gross profit dollars increased by 25%, he feels that there isn't any reason why anyone should "get too excited" about J.C. Penney since they lost 73c per share excluding the gain on sale of land. He maintains his opinion that the current valuation is stretched and keeps an Underperform rating on the company's shares with a $5-$6 price target. PRICE ACTION: In morning trading, J.C. Penney fell 26c, or 2.67%, to $9.48, reversing earlier gains. The stock has lost approximately 32% over the past twelve months. OTHERS TO WATCH: J.C. Penney peer Macy's (M), which reported its earnings earlier this week, is down almost 1% this morning, while Nordstrom (JWN), which reported in-line results yesterday, is down almost 4%. Kohl’s (KSS) is down 0.7%.
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.
Sign up for a free trial to see the rest of the stories you've been missing.
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
Subscribe for More Information
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
Subscribe for More Information
September 10, 2014
11:43 EDTJCP, KSSLand's End soars after better than expected Q2 results
Subscribe for More Information
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
Subscribe for More Information
07:16 EDTJCPSterne Agee to hold a field trip
Subscribe for More Information
September 8, 2014
11:15 EDTJCPJ.C. Penney volatility at 27-month low
Subscribe for More Information
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.
September 3, 2014
10:00 EDTKSSOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
07:49 EDTKSSKohl's upgraded to Buy from Hold at Maxim
Subscribe for More Information
07:32 EDTKSSKohl's upgraded to Buy from Hold at Maxim
Subscribe for More Information
07:10 EDTKSSKohl's upgraded to Buy from Hold at Maxim
Subscribe for More Information
07:05 EDTJWNNordstrom in talks to be early merchant partner with Apple, Bank Innovation says
Subscribe for More Information
07:03 EDTKSSKohl's announces partnership with AwesomenessTV
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use