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News For JCP;SHLD;AEO;ANF;TGT;WMT;KSS;SKT From The Last 14 Days Check below for free stories on JCP;SHLD;AEO;ANF;TGT;WMT;KSS;SKT the last two weeks. |
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| 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 | | | 08:35 EDT |  | JCP | J.C. Penney reiterated as a Sell at Northcoast
Subscribe for More Information | | | 07:48 EDT | | WMT | Wal-Mart valuation profile seems sustainable, says RW Baird
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. | | | 07:45 EDT | | KSS | Kohl's risk/reward remains attractive, says RW Baird
Baird views the risk/reward for Kohl's as attractive following Q1 results. The firm cited effective inventory management despite disappointing sales, easier comps, and ongoing initiatives to improve operations. Shares are Outperform rated with a $57 price target. | | | 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 | | | 16:29 EDT |  | WMT | On The Fly: Closing Wrap
Stocks on Wall Street were lower following some disappointing economic data and a hint from a regional Fed president that the central bank may taper its easing program in the coming months. The averages traded in a narrow range for much of the session before moving lower in the final hour of trading. Comments by San Francisco Fed president John Williams late in the afternoon, suggesting that the central bank may begin slowing its bond buying pace by the summer, may have spurred the late session selling. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares added $2.66, or 12.54%, to $23.87 to lead the blue chip index after the company's results beat expectations on the top and bottom lines. Wal-Mart fell $1.36, or 1.7%, to $78.50 after its first quarter earnings sand second quarter outlook missed the consensus forecast... Tesla Motors (TSLA) last night announced a stock and debt offering of more than $800M, with CEO Elon Musk announcing his intent to buy $100M of the offering, and shares of the electric car maker added $7.36, or 8.67%, to $92.20. MAJOR MOVERS: Among notable gainers was Aegerion (AEGR), up $14.73, or 31.37%, to $61.70 after the company said its Juxtapid treatment may have a $1B global market opportunity and at least two analyst firms raised their price targets on its shares. Also higher was Constellation Brands (STZ), up $1.52, or 3.03%, to $51.76 after the stock was upgraded at Stifel and ISI Group. Among noteworthy losers following analyst downgrades were AMD (AMD), which fell 55c, or 12.56%, to $3.83 after Goldman downgraded the stock to Sell, and CSC (CSC), which slid $2.12, or 4.74%, to $42.59 after being cut to Hold at Deutsche Bank. Also lower following its quarterly report was NetQin Mobile (NQ), down 72c, or 7.5%, to $8.88. INDICES: The Dow was down 42.47, or 0.28%, to 15,233.22; the Nasdaq was down 6.38, or 0.18%, to 3,465.24; and the S&P 500 was down 8.31, or 0.50%, to 1,650.47. | | | 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. | | | 14:44 EDT | | KSS | Kohl's can beat Q2 guidance, says RW Baird
RW Baird believes that easier comps and pent-up demand for spring/summer merchandise could enable Kohl's to beat its in-line Q1 EPs guidance. The firm thinks the company has several upcoming positive catalysts and keeps an Outperform rating on the stock. | | | 14:01 EDT |  | WMT | Options Update; May 16, 2013
Subscribe for More Information | | | 13:52 EDT | | JCP | J.C. Penny May 19 straddle priced for 8% move into Q1
| | | | 13:16 EDT | | WMT | Wal-Mart warns on email phishing scam
Subscribe for More Information | | | 12:24 EDT | | WMT | On The Fly: Midday Wrap
The S&P 500 was virtually unchanged at midday following a deluge of domestic economic data this morning. The S&P began the session in negative territory, but only moderately lower, after investors received a host of data prior to the open, including reports on jobless claims, consumer prices, and housing starts. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares advanced 12% to lead the blue chip index after the company's results beat expectations on the top and bottom lines and prompted price target increases at several analyst firms. Wal-Mart, in contrast, lagged all Dow names, sliding 2% after its earnings for the just ended quarter and its view of the current quarter missed the consensus forecast... After the closing bell, Tesla Motors (TSLA) said it intends to raise about $830M by offering 2.7M common shares and $450M in convertible senior notes. CEO Elon Musk will buy $100M worth of the stock and debt, the company said, and its recently high-flying shares rose another 6%. MAJOR MOVERS: Among the notable gainers rising following Cisco's better than expected results and commentary were Ciena (CIEN), which rose 8%, and Cavium (CAVM), which advanced 4%. Also higher were shares of NetApp (NTAP), which gained over 6% after Bloomberg said activist investor Elliott Management has taken a stake in the company and is pushing its board to explore ways to boost shareholder value. Among the noteworthy losers were Oncothyreon (ONTY), which fell 20%, and Biomarin (BMRN), down 5%, after both pharmaceutical companies, among a number of others, published data to be presented at ASCO, an annual meeting of oncologists. Also lower was AMD (AMD), which declined 14% following a downgrade to Sell at Goldman Sachs. INDICES: Near noon, the Dow was up 12.47, or 0.08%, to 15,288.16; the Nasdaq was up 8.74, or 0.25%, to 3,480.36; and the S&P 500 was nearly flat at 1,658.80. | | | 11:40 EDT | | JCP | Stocks with call strike movement; FSLR JCP
Subscribe for More Information | | | 10:02 EDT | | TGT, WMT | Target losing traffic, says Buckingham
Buckingham said Target (TGT) is significantly under performing Wal-Mart (WMT) and that its less promotional marketing and consumer offerings are losing traffic. Shares are Neutral rated with a $65 price target. | | | 09:32 EDT | | KSS | Kohl's spikes sharply after earnings beat, levels to watch
Subscribe for More Information | | | 09:27 EDT | | WMT | Wal-Mart slips after results and guidance, levels to watch
Subscribe for More Information | | | 09:19 EDT | | WMT, KSS | On The Fly: Pre-market Movers
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. | | | 07:54 EDT | | WMT | Wal-Mart sees opening 60-65 new Walmart U.S. units in Q2
Says added 38 new Walmart units and converted 8 units to supercenters in U.S. in Q1. Planning to open between 60-65 new Walmart units, including new stores, expansions and relocations, in U.S. in Q2. Plans to open 15-20 new and relocated Sam's Clubs during the year, the majority of which are scheduled for Q3 and Q4. Says total company added over 5M square feet of retail space in Q1. Comments from Q1 earnings conference call. | | | 07:42 EDT | | WMT | Wal-Mart CEO says had 'more difficult quarter than expected'
Wal-Mart CEO Mike Duke said on the company's Q1 earnings conference call, "Frankly, we had a more difficult quarter than expected when we announced our guidance in February. It’s important to note that Walmart U.S. continued to gain market share across several key categories. Sales were pressured primarily by delayed tax refunds, which caused customers to put off discretionary purchases. And though no one likes to talk about weather, it was a real factor across the United States...I share [Bill Simon's] optimism about the remainder of the year and believe the underlying strength of the Walmart U.S. business will deliver positive comps next quarter." | | | | 07:29 EDT | | WMT | Futures higher ahead of economic data
Subscribe for More Information | | | 07:12 EDT | | WMT | Wal-Mart says Q2 off to 'good start, with positive comps'
Subscribe for More Information | | | 07:11 EDT | | WMT | Wal-Mart says Q1 U.S. comp traffic down 1.8%, average ticket up 0.4%
The company reported Q1 U.S. comparable store sales ex-fuel down 1.4% for Walmart U.S., up 0.2% for Sam's Club. The company said, "During the 13-week period, the Walmart U.S. comp was negatively impacted by a delay in tax refund checks, challenging weather conditions, less grocery inflation than expected and the payroll tax increase. Comp traffic was down 1.8%, while average ticket increased 0.4%. Despite comps being lower than expected, we continued to generate market share gains. According to The Nielsen Company, we gained 20 basis points of market share in the measured category of 'food, consumables and health & wellness/OTC' during the 13-weeks ended Apr. 27, 2013." | | | 07:07 EDT | | WMT | Wal-Mart reports Q1 EPS 1.14, consensus $1.15
Subscribe for More Information | | | 07:04 EDT | | KSS | Kohl's sees Q2 EPS $1.00-$1.08, consensus $1.05
Subscribe for More Information | | | 07:04 EDT | | WMT | Wal-Mart sees Q2 EPS $1.22-$1.27, consensus $1.29
Walmart U.S. and Sam's Club, excluding fuel, expect to increase comps for the Q2 13-week period to between flat and 2 percent and 1 and 3 percent, respectively. Q2 revenue consensus $119.73B. | | | 07:03 EDT | | KSS | Kohl's reports Q1 SSS down 1.9%
Subscribe for More Information | | | 07:02 EDT | | KSS | Kohl's reports Q1 EPS 66c, consensus 58c
Subscribe for More Information | | | May 15, 2013 | | 16:55 EDT | | WMT | Berkshire Hathaway gives quarterly update on stakes
Subscribe for More Information | | | 15:11 EDT | | KSS, WMT | Notable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.15; Kohl's (KSS), consensus 58c; Flowers Foods (FLO), consensus 42c; Brady Corp. (BRC), consensus 60c; Prestige Brands (PBH), consensus 35c. | | | | 15:05 EDT | | KSS | Kohl's May 50 straddle priced for 5.1% move into Q1
| | | 14:48 EDT | | WMT | Wal-Mart May 80 straddle priced for 2.6% move into Q1
| | | 11:45 EDT | | JCP | Stocks with call strike movement; JCP BBY
Subscribe for More Information | | | 09:49 EDT |  | AEO | American Eagle upgraded to Buy from Hold at Standpoint Research
Subscribe for More Information | | | 08:48 EDT | | JCP | J.C. Penney recommended at Buckingham
Subscribe for More Information | | | 08:00 EDT | | WMT | Wal-Mart price target raised to $88 from $78 at RW Baird
Subscribe for More Information | | | 07:09 EDT | | WMT | Wal-Mart May volatility elevated into Q1 and revenue outlook
Wal-Mart May call option implied volatility is at 39, June is at 15, July and September is at 14; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on May 16. | | | 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 | | 18:45 EDT | | WMT | Wal-Mart says won't sign Bangladesh factory proposal, Bloomberg reports
Wal-Mart says its plan will produce quicker results, according to Bloomberg. | | | 16:24 EDT | | JCP | J.C. Penney real estate appraised at $4.06B, Reuters says
Subscribe for More Information | | | | 16:02 EDT | | WMT | Wal-Mart to raise inspection standards, transparency on Bangladesh factories
Subscribe for More Information | | | 16:01 EDT | | WMT | Wal-Mart to raise inspection standards on Bangladesh factories
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 | | | 14:01 EDT | | SHLD | Sears Holdings June volatility elevated
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. | | | 11:30 EDT | | WMT | Analysts differ on Wal-Mart sales trends in March, April
Subscribe for More Information | | | 09:12 EDT | | JCP | J.C. Penney increases tender offer consideration to $1,400
Subscribe for More Information | | | 08:06 EDT |  | TGT, WMT | BofA/Merrill's retail analysts hold an analyst/industry conference call
Global Retail Team discusses key global athletic themes including industry trends, sourcing costs outlook and favorite investment ideas on an Analyst/Industry conference call. Relevant covered companies COLM, COST, DKS, FINL, FL, GES, JNY, NKE, PVH, RL, TGT, UA and WMT may be included on the Analyst/Industry conference call to be held on May 14 at 10 am. | | | | 06:32 EDT | | WMT | Wal-Mart sales improved in March and April, says Jefferies
Jefferies said its research suggests that after a challenging start to the quarter, Wal-Mart's sales improved in March and April. The firm believes Wal-Mart shares will hold current levels or move higher should management confirm its research when reporting Q1 results. Jefferies keeps a Buy rating on Wal-Mart with a $90 price target. | | | 06:09 EDT | | WMT | Wal-Mart removed from Top Picks Live list at Citigroup
Subscribe for More Information | | | May 13, 2013 | | 11:30 EDT | | JCP | J.C. Penney May volatility elevated at 96 into Q1
Subscribe for More Information | | | 10:24 EDT | | KSS | Kohl’s May volatility increases into Q1 and guidance
Kohl's May call option implied volatility is at 59, June is at 27; compared to its 26-week average of 28 according to Track Data, suggesting larger near term price movement in the expected release of Q1 results before the market open on May 16. | | | 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 | | | 10:00 EDT |  | JCP | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 07:25 EDT | | JCP | J.C. Penney downgraded to Sell from Neutral at Northcoast
Subscribe for More Information | | | 07:14 EDT | | SHLD | Sears Holdings volatility at low end of two-year range
Subscribe for More Information | | | | May 9, 2013 | | 18:08 EDT | | SHLD | Sears to launch lease-to-own program, AP reports
Subscribe for More Information | | | 15:20 EDT | | SHLD | Rent-A-Center down over 1% after report of Sears starting lease-to-own program
Subscribe for More Information | | | 15:18 EDT | | SHLD | Sears starting lease-to-own program beginning this month, DJ reports
| | | 11:01 EDT | | SHLD | Sears Holdings names Jeff Balagna Chief Information Officer
Subscribe for More Information | | | 05:46 EDT | | WMT | Wal-Mart investing $16.3M for food safety in China, WSJ reports
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 | | | 10:00 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. | | | 09:39 EDT | | KSS | Kohl's comps trending below expectations, says Cleveland Research
Cleveland said Kohls trends continue to be challenged and that comps appear to be trending below expectations driven by weaker traffic and difficult spring seasonal sales. | | | | 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 | | | 07:44 EDT | | KSS, WMT, TGT | BofA/Merrill's retail analysts hold an analyst/industry conference call
Specialty Retail Analyst Hutchinson provides an update on April monthly sales, earnings and industry trends on an Analyst/Industry conference call. Relevant covered companies BBBY, BBY, BJ, CHS, COH, COST, DG, DLTR, FDO, FL, GPS, KR, KSS, LOW, M, NDN, PLCE, SKS, SWY, TGT, TJX, WMT and ZLC may be included on the Analyst/Industry conference call to be held on May 9 at 1 pm. | | | 07:11 EDT | | WMT | Wal-Mart volatility flat into Q1 and margin growth outlook
Subscribe for More Information | | | 07:11 EDT | | TGT | Target uses Facebook to see if deals attract shoppers to stores, Reuters reports
Target (TGT) is rolling out a service that combines social networking and discounts to attract shoppers into its physical stores. The company’s program relies on shoppers using their Facebook (FB) accounts, and they can only redeem the offers they choose in Target's U.S. stores, not online, reports Reuters.Reference Link | | | 06:05 EDT | | TGT | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | May 7, 2013 | | 18:32 EDT | | WMT | Wal-Mart CEO search to focus on internal candidates, Bloomberg says
Wal-Mart has identified two internal candidates, international chief Doug McMillon, and Bill Simon, head of U.S. operations, as possible successors to CEO Mike Duke, Bloomberg reports, citing a person familiar with the situation. Reference Link | | | 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 | | | 16:01 EDT | | WMT | Options Update; May 7, 2013
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. | | | 12:48 EDT | | WMT | Wal-Mart to focus CEO search on internal candidates, Bloomberg says
Subscribe for More Information | | | 10:00 EDT |  | KSS, JCP | On The Fly: Analyst Initiation Summary
Subscribe for More Information | | | 10:00 EDT | | AEO | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Aeropostale (ARO) downgraded to Sell from Hold at Brean Capital... AIG (AIG) downgraded to Neutral from Buy at Goldman... Alpha Natural (ANR) downgraded to Sell from Neutral at Goldman... American Eagle (AEO) downgraded to Market Perform from Outperform at Wells Fargo... Coach (COH) downgraded to Market Perform from Outperform at Wells Fargo... Iconix Brand (ICON) downgraded to Hold from Buy at Brean Capital... International Rectifier (IRF) downgraded to Market Perform at JMP Securities... Mettler-Toledo (MTD) downgraded to Hold from Buy at Jefferies... TJX (TJX) downgraded to Market Perform from Outperform at Wells Fargo... Tiffany (TIF) downgraded to Market Perform from Outperform at Wells Fargo... North American Palladium (PAL) downgraded to Market Perform at Raymond James... Ducommun (DCO) downgraded to Neutral from Buy at B. Riley... International Rectifier (IRF) downgraded at JMP Securities... Hologic (HOLX) downgraded to Buy from Strong Buy at ISI Group... Ruckus Wireless (RKUS) downgraded to Neutral from Buy at Lazard Capital. | | | 10:00 EDT | | ANF | On The Fly: Analyst Upgrade 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. | | | | 06:24 EDT | | KSS | Kohl's Q1 estimate lowered below guidance, consensus at Citigroup
Subscribe for More Information | | | 06:15 EDT | | JCP | J.C. Penney initiated with an Underperform at Wells Fargo
Subscribe for More Information | | | 06:11 EDT | | KSS | Kohl's initiated with a Market Perform at Wells Fargo
Price target range $46-$50. | | | 06:10 EDT | | AEO | American Eagle downgraded to Market Perform from Outperform at Wells Fargo
Subscribe for More Information | | | 06:04 EDT | | ANF | Abercrombie & Fitch upgraded to Outperform from Market Perform at Wells Fargo
Subscribe for More Information | | | May 6, 2013 | | 19:05 EDT | | WMT | Senate passes bill allowing states to tax Internet purchases, AP reports
Subscribe for More Information | | | 13:06 EDT | | JCP | Stocks with call strike movement; BBY JCP
Subscribe for More Information | | | 08:56 EDT | | JCP | J.C. Penney volatility at six-month lows
Subscribe for More Information | | | 08:13 EDT | | WMT | Online sales-tax bill headed to the House, WSJ reports
A bill that would basically end tax-free Web shopping appears to be heading toward Senate passage today, but will run into stronger anti-tax sentiment in the House, reports the Wall Street Journal. Reference Link | | | May 5, 2013 | | 12:26 EDT | | WMT | Wal-Mart launches national advertising campaign to show 'The Real Walmart'
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