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News For JCP;NFLX From The Last 14 Days Check below for free stories on JCP;NFLX the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. << 1 | 2 | 3 | 4 | all recent news | >> May 17, 2013 10:55 EDT JCP J.C. Penney drops after results miss expectations Subscribe for More Information 09:48 EDT JCP J.C. Penney falls after earnings miss, levels to watch Subscribe for More Information 09:37 EDT NFLX Active equity option families trading on open Subscribe for More Information 08:35 EDT JCP J.C. Penney reiterated as a Sell at Northcoast Subscribe for More Information 07:47 EDT JCP J.C. Penney situation should only improve from here, says RW Baird Baird believes there are several reasons why J.C. Penney's situation should only improve from here including better recent trends, prudent pricing and promotion, easy comps, and the re-introduction of in-demand product for fall. Baird maintains its Neutral rating and $19 price target pending further details on the company's new strategy. 07:11 EDT JCP J.C. Penney CEO says needs time to fix problems, Reuters reports J.C. Penney CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, reports Reuters.Reference Link 06:28 EDT JCP J.C. Penney CEO likely to make substantial progress, says Deutsche Bank Subscribe for More Information 06:06 EDT JCP On the Fly: Periodicals Wrap-Up WALL STREET JOURNAL: A so-so Q1 earnings season hasn't dented investors' enthusiasm for stocks as prices have been rising, with the DJIA up 16% for the year and 4.2% since earnings season began April 8, the Wall Street Journal reports...JPMorgan Chase (JPM), in a last-ditch effort to beat back activist investors, sent a letter to shareholders who have yet to vote on the nonbinding proposal ahead of the May 21 annual meeting, urging them to reject a proposal to split the chairman and CEO roles held by James Dimon, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) will be called back to the British parliament to clarify how its activities in the U.K. justify its low corporate income tax bill, Reuters reports...J.C. Penney (JCP) CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, Reuters reports...BLOOMBERG: Apple (AAPL), which holds $102B in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country, Bloomberg reports...Fiat’s (FIATY) deliberations over moving its headquarters to the U.S. after a merger with Chrysler Group LLC. raised concern among Italian unions and politicians about the plans of the country’s biggest manufacturer. CEO Marchionne is considering the move because Fiat’s main sources of revenue and profit are shifting to North America, Bloomberg reports. 05:50 EDT JCP J.C. Penney price target raised to $20 from $15 at Citigroup Citigroup raised its price target for J.C. Penney to $20 following the company's Q1 results while keeping a Neutral rating on the stock. Citi says it is encouraged by new CEO Mike Ullman's strategic plan, which it expects will improve same-store-sales. May 16, 2013 18:56 EDT JCP On The Fly: After Hours Movers UP AFTER EARNINGS: SINA (SINA), up 4.2%. ALSO HIGHER: Kansas City Southern (KSU), up 1.6% after it was announced the company would replace Dean Foods (DF) in the S&P 500 on May 23. DOWN AFTER EARNINGS: Autodesk (ADSK), down 6.5% after earnings, guiding its second quarter below expectations... Aruba Networks (ARUN), down 17.1% after earnings, guiding its fourth quarter below expectations... Nordstrom (JWN), down 3.5%... J.C. Penney (JCP), down 1.7%... Brocade (BRCD), down 2.4% after earnings, guiding its third quarter below expectations. 18:03 EDT JCP J.C. Penney says Q1 traffic down 6% vs. year ago Subscribe for More Information 16:42 EDT JCP J.C. Penney down 30c, or 1.60%, to $18.49 after earnings miss estimates 16:37 EDT JCP J.C. Penney reports Q1 gross margin 30.8% of sales vs. 37.6% a year ago Subscribe for More Information 16:31 EDT JCP J.C. Penney reports Q1 adjusted EPS ($1.31), consensus (86c) Subscribe for More Information 15:14 EDT JCP Notable companies reporting after market close Notable companies reporting after the market close, with earnings consensus, include Dell (DELL), consensus 35c; Applied Materials (AMAT), consensus 13c; Nordstrom (JWN), consensus 76c; Autodesk (ADSK), consensus 45c; J. C. Penney (JCP), consensus (86c); SINA (SINA), consensus (3c); ViaSat (VSAT), consensus 2c; Brocade Communications (BRCD), consensus 15c; Aruba Networks (ARUN), consensus 15c. 13:52 EDT JCP J.C. Penny May 19 straddle priced for 8% move into Q1 11:40 EDT JCP Stocks with call strike movement; FSLR JCP Subscribe for More Information 09:36 EDT NFLX Active equity option families trading on open Subscribe for More Information 08:00 EDT JCP J.C. Penney shares more expensive than they look, says Wells Fargo Although J.C. Penney's market cap is $4.2B, its enterprise value, including its net debt, is $7.4B, according to Wells Fargo. That is very similar to 2010 levels, when the retailer's EPS was $1.38, according to the firm. Wells notes that the stock would be trading at 15.1 times earnings even if the company generates $1.26 in EPS sometime in the future, and it keeps an Underperform rating on the shares. May 15, 2013 16:02 EDT NFLX Options Update; May 15, 2013 Subscribe for More Information 14:28 EDT NFLX Netflix targets 100 basis points of margin expansion a quarter Subscribe for More Information 12:17 EDT NFLX Icahn paper profit in Netflix tops $1B, WSJ reports Subscribe for More Information 11:45 EDT JCP Stocks with call strike movement; JCP BBY Subscribe for More Information 10:51 EDT NFLX Netflix CFO says growing subscribers at $8 price point Subscribe for More Information 10:42 EDT NFLX Netflix moves higher, levels to watch The shares are moving against the broader sideways or down move in technology today, last at $244.10. It would appear that traders are intent on moving the shares back toward the $250 area. That area in the prior two-years was important support and then resistance. When the shares broke below that level in August 2011, it presaged a steep decline in share price. Retaking that level and holding it therefore might encourage more bullishness for higher price. A failure to do so could potentially derail the current trend higher. 10:31 EDT NFLX Netflix volatility at one year low as shares at 21-month high Subscribe for More Information 10:13 EDT NFLX Netflix loved by consumers in survey, says BTIG Subscribe for More Information 09:43 EDT NFLX Active equity option families trading on open Subscribe for More Information 09:01 EDT NFLX Netflix EPS could reach $10+, says RBC Capital Subscribe for More Information 08:48 EDT JCP J.C. Penney recommended at Buckingham Subscribe for More Information 07:26 EDT NFLX Netflix ready for battle in Canada, Globe and Mail reports Netflix may have won the initial battle for online viewers in Canada, but CEO Reed Hastings says it must now survive an onslaught from the country’s traditional TV companies, reports the Globe and Mail. Hastings said the company is prepared to aggressively bid for movie and TV rights while earmarking increasingly higher amounts to produce original content to entice viewers into cutting their cords. Reference Link 05:56 EDT JCP J.C. Penney board supporting new CEO, not Ackman, NY Post reports Bill Ackman has lost influence over J.C. Penney's (JCP) board after failing to quickly replace the company's new CEO Mike Ullman, New York Post reports, citing sources. Ackman approached a number of candidates about the position, including Foot Locker (FL) CEO Ken Hicks, but the board was not interested, the paper adds. Reference Link May 14, 2013 16:24 EDT JCP J.C. Penney real estate appraised at $4.06B, Reuters says Subscribe for More Information 16:00 EDT NFLX Options Update; May 14, 2013 Subscribe for More Information 15:29 EDT JCP J.C. Penney stores, real estate appraised at $4.06B, Reuters reports 15:13 EDT JCP J.C. Penny May 19 straddle priced for 8.5% move into Q1 Subscribe for More Information 14:12 EDT JCP J.C. Penney upgraded to Neutral from Underperform at BofA/Merrill Subscribe for More Information 11:51 EDT JCP Stocks with call strike movement; JCP BBY J.C. Penney (JCP) June 21 call volatility increased 2% to 60, Best Buy (BBY) June 31 call option implied volatility decreased 2% to 59 according to IVolatility. 09:54 EDT NFLX Netflix rebound continues, levels to watch Subscribe for More Information 09:38 EDT NFLX Active equity option families trading on open Subscribe for More Information 09:12 EDT JCP J.C. Penney increases tender offer consideration to $1,400 Subscribe for More Information 07:05 EDT NFLX Netflix continues to lead web usage in North America, AllThingsD reports Subscribe for More Information May 13, 2013 15:45 EDT NFLX Options Update; May 13, 2013 Subscribe for More Information 12:06 EDT NFLX Stocks with call strike movement; CLF NFLX Subscribe for More Information 11:30 EDT JCP J.C. Penney May volatility elevated at 96 into Q1 Subscribe for More Information 09:50 EDT JCP J.C. Penney pops higher in early trading, levels to watch Subscribe for More Information 09:11 EDT JCP J.C. Penney feedback indicates a sales pickup, sa Cleveland Research Subscribe for More Information May 10, 2013 13:26 EDT JCP S&P assigns J.C. Penney term loan 'B' issue-level rating Subscribe for More Information 12:54 EDT NFLX Icahn says 'we haven't sold a share' of Netflix Subscribe for More Information 11:47 EDT NFLX Stocks with call strike movement; TSO NFLX Subscribe for More Information 10:00 EDT JCP On The Fly: Analyst Downgrade Summary Subscribe for More Information 09:38 EDT NFLX Active equity option families trading Subscribe for More Information 07:25 EDT JCP J.C. Penney downgraded to Sell from Neutral at Northcoast Subscribe for More Information May 9, 2013 11:15 EDT NFLX Netflix up 2% to $212.82 after reaching deal with Disney for TV shows Subscribe for More Information 11:02 EDT NFLX Netflix and Disney announce multi-year licensing deal for XD shows Subscribe for More Information May 8, 2013 17:01 EDT JCP On The Fly: Closing Wrap Stocks on Wall Street were higher again, pushing the Dow and S&P to new record levels. A late afternoon move down to the flatline made it seem like the recent winning streak was set to end, but the averages quickly reversed higher and closed firmly in positive ground. ECONOMIC EVENTS: In the U.S., the light economic calendar included MBA's report on mortgage applications, which were up 7%, and the EIA's petroleum status report, which showed crude oil inventories built up by less than was expected last week. In Europe, German industrial production increased 1.2% month-over-month in March, beating expectations for a 0.1% decline. In Asia, Chinese trade data showed exports climbed 14.7% in April, while imports were up 16.8%. However, some analysts expressed caution that the strong export gains should be viewed with some level of skepticism. COMPANY NEWS: Dow member Disney (DIS) beat expectations on the top and bottom line and price targets on the stock were raised at several firms, but shares slid 8c, or 0.12%, to $65.99... J.C. Penney (JCP) released preliminary Q1 results last night, including comparable store sales that were down 16.6% and revenue of $2.64B, which was below expectations. However, the results were enough to send shares of the heavily-shorted retailer up $1.21, or 7.38%, to $17.61. MAJOR MOVERS: Among the notable gainers was Whole Foods Market (WFM), up $9.39, or 10.12%, to $102.19 after earnings beat estimates, the company raised its full year outlook and announced a two-for-one stock split. Also higher were shares of Dex Media (DXM), up $2.84, or 20.71%, to $16.55 after Kyle Bass, presenting at the Sohn Investing Conference, said the company's stock could trade up to 5 times higher than current levels in 3 years. Among the noteworthy losers was Fusion-io (FIO), down $3.40, or 18.89%, to $14.60 after its CEO and chief marketing officer resigned and shares were downgraded by at least two analyst firms. Also lower following its earnings report was Zillow (Z), which fell $6.26, or 9.95%, to $56.68. INDICES: The Dow was up 48.92, or 0.32%, to 15,105.12; the Nasdaq was up 16.64, or 0.49%, to 3,413.27; and the S&P 500 was up 6.73, or 0.41%, to 1,632.69. 12:20 EDT JCP On The Fly: Midday Wrap Subscribe for More Information 12:11 EDT JCP Stocks with call strike movement; FSLR JCP Subscribe for More Information 10:27 EDT NFLX Hertz, Spark Networks among Tilson's new picks, Business Insider says Hedge fund manager Whitney Tilson gave two new stock picks-- Hertz (HTZ) and Spark Networks (LOV)-- at the Value Investing Congress in Las Vegas this week and also gave an update on some of his other favorites, including AIG (AIG), Berkshire Hathaway (BRK.A) and Netflix (NFLX), reported Business Insider. Reference Link 10:00 EDT JCP On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Ametek (AME) upgraded to Buy from Neutral at Citigroup... IAMGOLD (IAG) upgraded to Buy from Hold at Canaccord... Lowe's (LOW) upgraded to Buy from Neutral at ISI Group... lululemon (LULU) upgraded to Buy from Neutral at Sterne Agee... Myriad Genetics (MYGN) upgraded to Buy from Neutral at Mizuho... Orion Marine (ORN) upgraded to Outperform from Market Perform at FBR Capital... Trex Company (TREX) upgraded to Buy from Hold at BB&T... U.S. Auto Parts (PRTS) upgraded to Buy from Neutral at Roth Capital... Electronic Arts (EA) upgraded to Neutral from Sell at Monness Crespi... Electro Scientific (ESIO) upgraded to Buy from Hold at Noble Financial... Darling (DAR) upgraded to Buy from Hold at Maxim... J.C. Penney (JCP) upgraded to Hold from Sell at Maxim... Louisiana-Pacific (LPX) upgraded to Neutral from Underperform at DA Davidson... Grupo Televisa (TV) upgraded to Overweight from Equal Weight at Morgan Stanley... Marathon Oil (MRO) upgraded to Outperform from Neutral at Macquarie... Sibanye Gold (SBGL) upgraded to Overweight from Neutral at JPMorgan... Carrols Restaurant (TAST) upgraded to Strong Buy from Outperform at Raymond James. 09:25 EDT JCP J.C. Penney could generate signficant profits by 2016, says Buckingham Subscribe for More Information 08:57 EDT JCP Follow-up: J.C. Penney upgraded to Hold from Sell at Maxim Subscribe for More Information 08:45 EDT JCP J.C. Penney upgraded to Hold from Sell at Maxim Subscribe for More Information 08:33 EDT JCP J.C. Penney estimates lowered on Q1 sales decline at Morgan Stanley Subscribe for More Information 07:23 EDT NFLX Rogers Communications to battle Netflix, Globe and Mail reports Subscribe for More Information May 7, 2013 16:12 EDT JCP J.C. Penney shares up 40c to $16.80 following Q1 sales results 16:11 EDT JCP J.C. Penney sees Q1 revenue $2.635B, consensus $2.74B Subscribe for More Information 16:10 EDT JCP J.C. Penney sees Q1 SSS down 16.6% Subscribe for More Information 16:08 EDT JCP J.C. Penney reports Q1 revenue $2.635B, consensus $2.74B Subscribe for More Information 15:23 EDT JCP Sohn conference presentations likely to move stocks again The Sohn Investment Conference is set to take place tomorrow in New York City. Among the notable presenters are David Einhorn, Bill Ackman, and Jeff Gundlach, each of whom presented a year ago. LOOKING BACK: A year ago, both Gundlach and Einhorn addressed Apple (AAPL) in their presentations, taking opposite sides of the trade. Gundlach said that he was short Apple, while Einhorn said he was long the stock. Gundlach reiterated his short position on Apple in a number of interviews during the year, including a prediction in January that Apple shares would reach $425 in the first quarter, a level the stock closed below on March 4. On April 29, Gundlach told CNBC he was no longer short Apple. Einhorn, meanwhile, filed a suit against the company in February in an effort to get it to distribute some of its cash hoard to investors. Earlier today, Einhorn said in an earnings conference call for Greenlight Capital that he has added to his Apple long position and praised the company's plan to return more capital to holders. Apple shares are down more than 19% over the last year, though shares have rallied more than 15% from their April lows. At last year's conference, Bill Ackman discussed his long position in J.C. Penney (JCP). Ackman, a member of Penney's board, said the company was going through with its in-store makeover strategy, led by then CEO Ron Johnson. J.C. Penney shares have slipped 50% over the last year, with Johnson leaving his CEO post on April 8. OTHER POSITIONS: Over the last year, both Einhorn and Gundlach have mentioned shorting Chipotle (CMG). In October, Einhorn recommended shorting Chipotle, saying Taco Bell (YUM) was a threat to the burrito chain. At a presentation last month, Gundlach said the idea of a gourmet burrito is an oxymoron. Shares of Chipotle are down more than 3% today ahead of tomorrow's conference, though neither investor has confirmed they hold short positions in its shares. In addition to his long position in J.C. Penney, Ackman has a high-profile short position in Herbalife (HLF), which he has called "a pyramid scheme." Ackman has been in a public spat with Carl Icahn over the company in which, according to Icahn's most recent SEC filings, he holds a better than 15% stake. Herbalife shares, which lost more than 39% following Ackman's initial presentation, are up slightly better than 1.5% since Ackman's initial comments. OTHER PRESENTERS: Investors will also be watching comments in any individual stocks from famed short-seller Jim Chanos, as well as comments from Kyle Bass, who has been outspokenly bearish on Japan. Also presenting is Paul Singer of Elliott Management, which is currently in a proxy fight with Hess (HES) in an effort to add five independent directors to the company's board. Keith Meister of Corvex Management, which along with Related Fund Management has been seeking change at CommonWealth REIT (CWH), is also set to take the stage. 10:00 EDT NFLX, JCP On The Fly: Analyst Initiation Summary Subscribe for More Information 07:58 EDT JCP J.C. Penney $9 price target reiterated at Morgan Stanley Morgan Stanley said J.C. Penny's $1.75B debt facility secured by real estate primary shifts value to debt holders from stockholders. The analyst values J.C. Penny's real estate at approximately $12 per share but said valuation would be much lower in a distressed scenario and that ongoing losses outflows will erode the $12 value. The firm reiterates its Underweight rating and $9 price target and believes the only catalyst for shares is a a sales and operational recovery. 06:15 EDT JCP J.C. Penney initiated with an Underperform at Wells Fargo Subscribe for More Information May 6, 2013 13:06 EDT JCP Stocks with call strike movement; BBY JCP Subscribe for More Information 10:06 EDT NFLX Netflix puts active Subscribe for More Information 09:48 EDT NFLX Rumor: Netflix weakness partially attributed to speculation of a secondary Shares of Netflix are down 3.96% or down $8.50 to $205, in part due to speculation of a potential secondary. 09:38 EDT NFLX Active equity option families trading on open Active equity option families trading on open according to Track Data: AAPL FSLR NFLX GOOG 08:56 EDT JCP J.C. Penney volatility at six-month lows Subscribe for More Information 06:01 EDT NFLX Stocks with implied volatility below IV index mean; NFLX AGN Subscribe for More Information << 1 | 2 | 3 | 4 | all recent news | >> Sign up for a free trial to see the rest of the stories you've been missing.