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Stock Market & Financial Investment News

News Breaks
August 14, 2014
10:36 EDTHSNI, JCP, MSO, MEarnings Preview: Analyst sees J.C. Penney reporting positive Q2 comps
J. C. Penney (JCP) is scheduled to report second quarter earnings after the market close on Thursday, August 14, 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 (93c) on revenue of $2.79B, according to First Call. The consensus range for EPS is ($1.13)-(65c) on revenue of $2.71B-$2.86B. LAST QUARTER: J. C. Penney reported first quarter EPS of ($1.16), against estimates for ($1.25), on revenue of $2.8B, against estimates for $2.71B. Comparable store sales increased 6.2% for the quarter. The retailer forecast Q2 SSS up in the mid single digits and said the gross margin would improve sequentially against the prior year period. For fiscal year 2014, J.C. Penney forecast same-store sales up in the mid-single digits with gross margin up "significantly" versus the prior year. On its Q1 earnings conference call, the company said that it expected to be cash flow neutral this year and that it sees working capital as a source of funds in 2014. NEWS: Shopper visits to physical stores, not specifically J.C. Penney but all U.S retailers, fell by nearly 7% in June and nearly 5% in July, according to data firm ShopperTrak, reported The Wall Street Journal. The report noted that physical store visits have fallen by 5% or more from a year earlier in every month for the past two years in the U.S. The WSJ also reported that Mindy Grossman, CEO of HSN (HSNI), was considered the lead candidate for J.C. Penney Chief Executive Officer Myron Ullman's position. Grossman had been in talks with J.C. Penney but could not agree on terms and negotiations broke down "months" ago, the Journal added in its July 13 report. During the quarter, J.C. Penney appealed a New York state court decision that ruled the company interfered with a contract between Macy's (M) and Martha Stewart (MSO) by selling the celebrity's home products. STREET RESEARCH: Craig-Hallum upgraded J.C. Penney shares to Hold from Sell earlier this week. The research firm expects the Q2 report to reflect better than expected comps from a stronger inventory position and improving vacancy rates in its malls, but remains cautious longer-term given gross margin pressures from outsized e-commerce growth. Piper Jaffray believes a turnaround is "very much underway" at the retailer and says the company is on a path to reclaim $2B-$3B of its $6B revenue loss following a change in management. The firm sees positive comps in Q2 and the second half of 2014, it stated in a report published July 31. PRICE ACTION: Since the day after its last earnings report, J. C. Penney shares are up about 12.5%. In morning trading today ahead of tonight's Q2 report, J. C. Penney's stock is up 0.5% to $9.40.
News For JCP;M;MSO;HSNI From The Last 14 Days
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May 13, 2015
09:57 EDTMMacy's sees Q2 comps positive, but not reaching 2% annual guidance
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09:56 EDTMEquity options with increasing volume
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09:49 EDTMMacy's sees Bluemercury breakeven to EPS this year
09:31 EDTMMacy's CFO says studying real estate transactions closely
Says hasn't yet seen real estate deal that makes sense.
09:21 EDTMOn The Fly: Pre-market Movers
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09:20 EDTMMacy's CFO says expects Q2 EPS below last year
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09:08 EDTMMacy's CFO says 'still comfortable' with guidance for FY15
CFO Karen Hoguet says "disappointed but not discouraged" in Q1 results. Says still comfortable with guidance for FY15. Says sales from international tourists "down significantly," cites strong dollar. Says tourism sales fell double digits in Q1, sees continued decline in tourism at least through summer. Says weather "clearly played a role" in Q1 results. Comments made on the Q1 earnings conference call. Macy's is down 1.04% in pre-market trading.
08:08 EDTMMacy's drops 2% after Q1 earnings miss expectations
08:06 EDTMMacy's reports Q1 comparable sales on owned plus licensed basis down 0.1%
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08:05 EDTMMacy's boosts dividend 15% to 36c, raises share buyback authorization by $1.5B
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08:03 EDTMMacy's reiterates FY15 EPS view $4.70-$4.80, consensus $4.75
Macy’s continues to expect comparable sales growth on an owned plus licensed basis of approximately 2% in FY15, with comparable sales slightly lower on an owned basis. The company continues to expect total sales growth of approximately 1%, consensus $28.44B.
08:02 EDTMMacy's boosts dividend 15%, raises share buyback authorization by $1.5B
08:01 EDTMMacy's reports Q1 EPS 56c, consensus 62c
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May 12, 2015
16:01 EDTJCPOptions Update; May 12, 2015
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15:00 EDTMNotable companies reporting before tomorrow's open
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14:09 EDTMMacy's May volatility increases into Q1 and outlook
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12:44 EDTMEarnings Watch: Macy's sees FY15 EPS $4.70-$4.80, total sales up about 1%
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11:37 EDTJCPStocks with call strike movement; TWTR JCP
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May 11, 2015
16:00 EDTJCPOptions Update; May 11, 2015
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May 8, 2015
10:59 EDTJCPJ.C. Penney May volatility elevated into Q1 and outlook
J.C. Penney May call option implied volatility is at 84, June is at 52, August is at 47, November is at 44; compared to its 90-week average of 50, suggesting large near term price movement into the expected release of Q1 results on May 15.
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