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Stock Market & Financial Investment News

News Breaks
April 11, 2014
14:26 EDTJCP, CBL, SHLDCBL & Associates expects more J.C. Penney closures
CBL & Associates Properties (CBL), a real estate investment trust, or REIT, that operates regional shopping malls and other properties, held a business outlook call earlier today, during which it commented on its portfolio, including J.C. Penney (JCP) and Sears (SHLD) locations in its malls. WHAT'S NOTABLE: During its update, CBL said J.C. Penney and Sears occupy "prime locations" in its malls, representing both an exposure but "an even greater opportunity." The redevelopment potential of these locations may allow CBL to increase the spots' productivity and bring new uses, according to the firm. J.C. Penney has renewed all its remaining 2014 lease maturities, CBL noted, but added 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," the REIT stated. Commenting on its own business, CBL announced that it executed a contract on its Lakeshore Mall yesterday and anticipates closing on that transaction in May. CBL added that it currently has three more malls in the market that are listed through brokers, on which it has received "promising interest," and that it is having "off market discussions" on an additional seven malls. PRICE ACTION: In afternoon trading, shares of J.C. Penney are down over 9.5% to $7.70. Shares of CBL & Associates are up 0.5% to $18.03.
News For JCP;SHLD;CBL From The Last 14 Days
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July 6, 2015
13:03 EDTSHLDSears Holdings volatility low as share price near ten-year low
Sears Holdings July call option implied volatility is at 56, August is at 52, September is at 51; compared to its 52-week range of 44 to 121, suggesting decreasing price movement.
07:08 EDTSHLDSeritage Growth Properties to start trading on NYSE
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July 2, 2015
15:59 EDTCBLCBL & Associates files automatic mixed securities shelf
June 30, 2015
15:20 EDTJCPMoody's raises J.C. Penney liquidity rating to SGL-1 from SGL-2
Moody's Investors Service revised J.C. Penney's rating outlook to positive from stable. Moody's also affirmed the company's Caa1 Corporate Family Rating, and raised the company's Speculative Grade Liquidity rating to SGL-1 from SGL-2. "The rating outlook revision to positive from stable reflects Moody's view that JC Penney's operating performance has shown signs of improvement as a result of better merchandising, cost controls, and integration of its online business" said Moody's Vice President Scott Tuhy. He added, "we have seen positive momentum building for the company to achieve $700M to $800M of adjusted EBITDA, a level in which earnings would fully cover cash flow and interest". The upgrade in the Speculative Grade Liquidity rating primarily reflects the company's improved operating performance as we expect free cash flow to be near break-even levels and the company's meaningful cash balances are sufficient to cover expected seasonal working capital needs.
June 24, 2015
11:11 EDTSHLDAnalyst says Best Buy shares poised to rise
Best Buy's (BBY) stock is poised to advance after the company reports its second quarter results, research firm B. Riley predicted. WHAT'S NEW: Best Buy's forecast for increased margins in the second half of the year, along with easing comparisons, should cause the stock to rise, predicted B. Riley in a note to investors earlier today. The shares will be particularly well-positioned to climb after the company updates its guidance following its Q2 results, the firm believes. Best Buy's initiatives should help increase its revenue and profits heading into fiscal 2017 and the retailer can continues to increase its market share at the expense of Sears (SHLD), RadioShack and others. Additionally, macro economic trends remain favorable for Best Buy and its key product categories continue to perform well, according to B. Riley. The firm, which is particularly confident about the company's ability to beat Q4 consensus estimates, keeps a $47 price target on the name and reiterates a Buy rating on the shares. WHAT'S NOTABLE: In their own note to investors this morning, SunTrust analysts David Magee and D. Mitch Van Zelfden speculated on potential M&A activity in the specialty retail space, noting that "Wall Streetís appetite for acquisitions has strengthened recently." In their opinion, Best Buy acquiring GameStop (GME) is among the "most compelling relationships" in the sector, the note explained. PRICE ACTION: In mid-morning trading, Best Buy slid 0.4% to $34.72, while GameStop rose 1.3% to $44.92.
10:26 EDTJCPStocks with call strike movement; TWTR JCP
Twitter (TWTR) December 40 call option implied volatility increased 1% to 44, J.C. Penney (JCP) November 20 call option implied volatility decreased 5% to 42 according to IVolatility.
07:35 EDTSHLDCFA Society of Chicago to hold a meeting
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