New User:

-or-
Username:
Password:
Forgot your password?

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.
Sign up for a free trial to see the rest of the stories you've been missing.
August 31, 2014
13:33 EDTPVHGoldman to hold a conference
Subscribe for More Information
August 29, 2014
06:23 EDTPVHPVH September volatility elevated into Q2 and outlook
PVH September call option implied volatility is at 30, October is at 26, December is at 24; compared to its 26-week average of 26 according to Track Data, suggesting large near term price movement into the expected release of Q2 on September 4.
August 28, 2014
11:13 EDTJCPStocks with call strike movement; JCP PBR
J.C. Penney (JCP) February 12 call option implied volatility increased 4% to 43, Petrobras (PBR) December 23 call option implied volatility increased 4% to 45 according to IVolatility.
09:57 EDTJCPOn The Fly: Analyst Downgrade Summary
Brown Forman (BFA, BFB, BF.A, BF.B) downgraded to Hold from Buy at Deutsche Bank... GT Advanced (GTAT) downgraded to Underperform from Market Perform at Raymond James... Genuine Parts (GPC) downgraded to Neutral from Buy at SunTrust... InterMune (ITMN) downgraded to Neutral from Buy at UBS... Tesco (TSCDY) downgraded to Hold from Buy at Deutsche Bank... Visa (V) downgraded to Market Perform from Outperform at Raymond James... Williams-Sonoma (WSM) downgraded to Equal Weight from Overweight at Morgan Stanley... Bob Evans (BOBE) downgraded to Underweight from Equal Weight at Stephens... lululemon (LULU) downgraded to Neutral from Buy at DA Davidson... J.C. Penney (JCP) downgraded to Neutral from Buy at BTIG.
08:05 EDTJCPJ.C. Penney downgraded at BTIG
Subscribe for More Information
07:43 EDTJCPJ.C. Penney downgraded to Neutral from Buy at BTIG
Subscribe for More Information
August 27, 2014
07:45 EDTJCPJ.C. Penney volatility at 27-month low
Subscribe for More Information
August 25, 2014
12:16 EDTJCPJ.C. Penney rises, levels to watch
The stock is holding above what was strong resistance at the $10 area. JPMorgan earlier recommended the shares as a long idea, and the stock is up over 4.6% on greater than average daily volume to $10.65. At that price, next resistance is at $11.22. Support is at $10.42.
10:16 EDTJCPJ.C. Penney rises after analyst predicts more store closures coming
Subscribe for More Information
07:37 EDTJCPJ.C. Penney recommneded as a Long Trade Idea at JPMorgan
Subscribe for More Information
August 21, 2014
10:35 EDTJCP, MSears falls after reporting Q2 loss that more than doubled analyst projections
Subscribe for More Information
10:22 EDTJCPOptions with decreasing implied volatility
Options with decreasing implied volatility: AMPE FOLD VHC ACHN JCP WB JD YPF
August 20, 2014
11:42 EDTJCPOptions with decreasing implied volatility
Subscribe for More Information
08:31 EDTMMacy's reaches agreement with NY AG on racial profiling allegations
Subscribe for More Information
05:51 EDTJCPStocks with implied volatility movement; JCP VHC
Subscribe for More Information
August 19, 2014
10:42 EDTJCPOptions with decreasing implied volatility
Subscribe for More Information
August 18, 2014
11:57 EDTJCPStocks with call strike movement; JCP GPRO
J.C. Penney (JCP) November 11 call option implied volatility decreased 4% to 43, GoPro (GPRO) January 48 call option implied volatility decreased 8% to 45 according to IVolatility.

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