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Stock Market & Financial Investment News

News Breaks
May 15, 2014
12:48 EDTJCP, PVH, CBL, M, MSOEarnings Preview: Analyst sees J.C. Penney posting positive quarterly SSS
J. C. Penney Company (JCP) is scheduled to report first quarter earnings after the market close on Thursday, May 15, 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 ($1.25) on revenue of $2.71B, according to First Call. The consensus range for EPS is ($1.50)-(95c) on revenue of $2.62B-$2.77B. LAST QUARTER: J. C. Penney reported fourth quarter adjusted EPS of (68c), against estimates for (85c), on revenue of $3.78B, against estimates for $3.85B. Comparable store sales increased 2% for the quarter. The retailer forecast Q1 SSS up 3%-5% and said the gross margin would improve against the prior year period. For fiscal year 2014, J.C. Penney forecast SSS up in the mid-single digits with gross margin up slightly vs. the prior year. On its Q4 earnings conference call, the company said the most challenging part of its turnaround was "behind us" and said gross margin improvement would be stronger in the second half of 2014. NEWS: During the quarter, PVH Corporation (PVH) stated at a retail conference hosted by Nomura that it feels its business at J.C. Penney is strong and running "ahead of time." PVH's Chairman and CEO Manny Chirico said he expects more positive results from its brands at J.C. Penney and the company is encouraged by everything it has seen over the last 4 to 5 months at the retailer. During a business update held in April, CBL & Associates Properties (CBL), a real estate investment trust that operates regional shopping malls and other properties, said that it expects that "at some point" there will be more closures of J.C. Penney locations within its portfolio. CBL believes that the pace of any J.C. Penney closures will "be measured." In an interview with CNBC, J.C. Penney director and former Saks CEO Steve Sadove said he doesn't believe CEO Mike Ullman will stay long-term. Sadove also commented that there's "not a chance" he will become the CEO of J.C. Penney. The retailer also commented that the final resolution of its legal fight with Macy's (M) over Martha Stewart (MSO) will not have a material adverse effect on its financial position, results of operations, capital resources or liquidity. STREET RESEARCH: During the quarter, J.C. Penney was upgraded to Buy from Neutral at Citigroup. The firm believes the retailer can post positive SSS in line with FY14 guidance. Shares were also upgraded to Neutral from Sell at UBS, and upgraded to Market Perform from Underperform at Wells Fargo. PRICE ACTION: Shares are up over 40% since reporting Q4 results. In intra-day trading today ahead of the Q1 report, J. C. Penney's stock is down over 4% to $8.24.
News For JCP;PVH;CBL;M;MSO From The Last 14 Days
Check below for free stories on JCP;PVH;CBL;M;MSO the last two weeks.
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August 13, 2014
11:14 EDTMMacy's CFO says early back-to-school sales very strong, particularly active
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10:47 EDTMMacy's sees fall season EPS $3.04-$3.14
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10:44 EDTMMacy's sees Q3 SSS lower than Q4
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09:15 EDTMOn The Fly: Pre-market Movers
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08:09 EDTMMacy's cuts FY SSS view to up 1.5%-2% vs. previous 2.5%-3% view
08:02 EDTMMacy's still sees FY14 EPS $4.40-$4.50, consensus $4.47
“We are approaching the second half of 2014 with confident optimism in our business strategies, merchandise assortments and marketing plans, tempered with the reality that many customers still are not feeling comfortable about spending more in an uncertain economic environment,” CEO Terry Lundgren said. “Thus, we remain focused on outperforming our competitors through innovation in omnichannel, which has added new dimensions in how consumers can shop us and how our company can satisfy customer demand. This includes a robust Buy Online Pickup in Store process, which has been rolled out to all full-line Macy’s stores nationwide so that it is fully available this fall and into the holiday shopping season. Moreover, our Millennial strategies have sharpened our merchandising and marketing to customers in the age range of 13 to 30. This has created new positive energy as our customers begin back-to-school shopping.”
08:02 EDTMMacy's says expectations for 2H14 'on track'
Expectations for the second half of 2014 remain on track, with guidance for comparable store growth of 2%-3%. However, even with an improved sales trend in the second quarter, the company was unable to make up its sales shortfall from the first quarter. This calculates to expectations for a full-year 2014 comparable sales increase of 1.5%-2%. Full-year 2014 comparable sales together with comparable sales of departments licensed to third parties now are expected to increase by 2%-2.5%. Previous guidance was for full-year comparable sales to increase by 2.5%-3%. The company continues to expect full-year 2014 earnings per diluted share in the range of $4.40 to $4.50, consistent with guidance previously provided.
08:01 EDTMMacy's reports Q2 EPS 80c, consensus 86c
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05:58 EDTMStocks with implied volatility movement; SFUN M
Stocks with implied volatility movement; SouFun (SFUN) 65, Macy's (M) 26 according to iVolatility.
August 12, 2014
15:23 EDTMNotable companies reporting before tomorrow's open
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15:22 EDTMMacy's technical comments before earnings release
In the past three months the shares have moderately outperformed the broader averages. The trend has been neutral for the most part with range-bound trading at $56.50 at the low and $60 at the high. This range is the last portion of a broader range of similar magnitude stretching back to late February of this year. As a result, a break of this range whether to the upside or downside will be significant technically and would resolve the range bearishly or bullishly Ranges that take long periods of time to form tend to persist in the direction of the break for an extended period. On a move above $60 on better than expected news there is only one established resistance level, which is the life high and 52-week high at $61.26. Additional upside moves would likely be anchored to common options strike prices such as $62.50 and $65. A breakdown below the low of the range at $56.50 on worse than expected news or outlook would break the uptrend in place since March 2009. Support below $56.50 would be at $55.10 and then at $53.20.
13:43 EDTJCP, MSO, MEarnings Preview: Analyst sees Macy's lowering EPS, SSS guidance for FY14
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13:32 EDTMMacy's August 60 straddle priced for 4% move into Q2
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10:25 EDTJCPJ.C. Penney August volatility elevated into Q2 and outlook
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06:53 EDTMMacy's August volatility elevated into Q2 and outlook
Macy's August call option implied volatility is at 50, September is at 24, January is at 23; compare to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on August on 13.
August 11, 2014
10:19 EDTJCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Outperform from Market Perform at Wells Fargo... Alon USA Partners (ALDW) upgraded to Outperform from Neutral at Credit Suisse... Buenaventura (BVN) upgraded to Buy from Underperform at BofA/Merrill... CNO Financial (CNO) upgraded to Overweight from Equal Weight at Morgan Stanley... Central European Media (CETV) upgraded to Neutral from Sell at Goldman... Cepheid (CPHD) upgraded to Neutral from Cautious at ISI Group... Chuy's (CHUY) upgraded to Outperform from Market Perform at Raymond James... Compressco (GSJK) upgraded to Strong Buy from Market Perform at Raymond James... Concho Resources (CXO) upgraded to Overweight from Equal Weight at Stephens... Frank's International (FI) upgraded to Neutral from Sell at Goldman... Freeport McMoRan (FCX) upgraded to Buy from Hold at Argus... GNC Holdings (GNC) upgraded to Outperform from Neutral at Credit Suisse... Genworth (GNW) upgraded to Equal Weight from Underweight at Morgan Stanley... Gulfport Energy (GPOR) upgraded at Stifel... Huntington Ingalls (HII) upgraded to Buy from Neutral at UBS... Hyatt Hotels (H) upgraded at Stifel... J.C. Penney (JCP) upgraded to Hold from Sell at Craig-Hallum... Kinder Morgan (KMI) upgraded to Buy from Neutral at BofA/Merrill... Krispy Kreme (KKD) upgraded to Outperform from Neutral at Wedbush... Oasis Petroleum (OAS) upgraded to Buy from Neutral at Sterne Agee... PepsiCo (PEP) upgraded to Buy from Neutral at UBS... Regency Centers (REG) upgraded to Neutral from Underperform at BofA/Merrill... SandRidge Energy (SD) upgraded to Reduce from Sell at KLR Group... Southwest Gas (SWX) upgraded to Buy from Hold at Brean Capital... Tesla (TSLA) upgraded to Buy from Hold at Deutsche Bank.
09:10 EDTJCPJ.C. Penney upgraded to Hold from Sell at Craig-Hallum
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August 8, 2014
08:39 EDTMGoldman says to buy Macy's and sell Kohl's
Goldman continues to recommend Buy rated Macy's and expects it to beat on the top and bottom line and reiterate fiscal year guidance and views it as one of the cheapest names under coverage. The analyst reiterated its Sell rating on Kohl;s given premium valuation, execution risk, margin pressures and increased competitive threats.
August 7, 2014
08:23 EDTMMacy's August volatility increases into Q2 and outlook
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07:23 EDTJCPJ.C. Penney August volatility elevated into Q2 and outlook
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