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Stock Market & Financial Investment News

News Breaks
February 14, 2014
16:33 EDTGNC, CRAY, VFC, WTW, MTX, MW, VSI, RATE, ACO, JOSBOn The Fly: Closing Wrap
Stocks on Wall Street were higher in a session that saw the Dow lead gains, with the blue-chip index logging a triple-digit advance. With today's gains, each of the indexes logged weekly gains better than 2% as the Dow and S&P continue to move back towards record highs. ECONOMIC EVENTS: In the U.S., import prices edged up 0.1% and export prices rose 0.2% in January. Industrial production fell 0.3% in January, versus expectations for it to have grown 0.3%. The preliminary February University of Michigan consumer confidence reading was unchanged from the final January figure at 81.2. In Europe, the eurozone's economy expanded at a 0.3% pace last quarter, versus analysts' consensus for expansion of 0.2%. COMPANY NEWS: Jos. A. Bank (JOSB) gained 20c, or 0.36%, to $55.12 announced a deal to buy Everest Holdings, the parent company of the Eddie Bauer brand, for cash and stock worth about $825M. Jos. A. Bank, which is also being pursued by peer Men's Wearhouse (MW), said the deal give it the right to terminate its agreement in the event an unsolicited offer is made that the company determines would "reasonably be expected to create greater value" for shareholders. Jos. A. Bank also said it will buy back 4.6M of its common shares, or 16.4% of its outstanding shares, if the Eddie Bauer deal moves forward. Afterward, Men's Wearhouse said will evaluate its options with regard to Jos. A. Bank, and shares of Men's Wearhouse fell $2.46, or 5.29%, to $44.07 following the news... Global apparel company VF Corp. (VFC) fell $3.04, or 5.08%, to $56.85 after its fourth quarter profit and sales fell short of estimates. The North Face, Timberland and Vans owner also cautioned on its fiscal 2014 results, giving a profit outlook that missed expectations and saying it sees 7%-8% revenue growth. MAJOR MOVERS: Among the notable gainers was AMCOL International (ACO), up $3.92, or 9.485, to $45.27 after Minerals Technologies (MTX) made a proposal to acquire the company for $42 per share in cash. On Wednesday of this week, AMCOL announced a merger agreement with Imerys S.A. worth $41 in cash per share of the company. Mineral Technologies, which said the deal would be immediately accretive to its earnings, saw shares edge up 32c, or 0.60%, to $53.40 for the session. Also higher following better than expected quarterly reports were supercomputer maker Cray (CRAY), up $11.69, or 39.01%, to $41.66 and personal finance publisher Bankrate (RATE), up $3.40, or 19.54%, to $20.80. Among the noteworthy losers was Weight Watchers (WTW), down $8.48, or 27.73%, to $22.10 after its fourth quarter profit missed expectations and the company sharply cut its fiscal 2014 earnings outlook. Also lower was health and wellness retailer GNC Holdings (GNC), down $7.67, or 14.64%, to $44.72 after cutting its fiscal 2014 profit outlook. GNC's vitamin peer Vitamin Shoppe (VSI) fell $2.61, or 5.90%, to $41.64 in sympathy. INDEXES: The Dow was up 126.80, or 0.79%, to 16,154.39; the S&P 500 was up 8.80, or 0.48%, to 1,838.63; the Nasdaq was up 3.35, or 0.08%, to 4,244.02.
News For JOSB;MW;VFC;ACO;MTX;CRAY;RATE;WTW;GNC;VSI From The Last 14 Days
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February 11, 2016
16:14 EDTCRAYCray sees Q1 revenue about $100M, consensus $97.2M
16:13 EDTCRAYCray sees FY16 revenue in range of $825M, consensus $817.7M
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16:12 EDTCRAYCray reports Q4 EPS 79c, consensus 69c
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13:37 EDTGNCOptions with decreasing implied volatility
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07:00 EDTGNCGNC Holdings expects to repurchase 6%-8% of shares outstanding in FY16
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06:58 EDTGNCGNC Holdings sees FY16 EPS $3.15-$3.35, consensus $3.19
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06:54 EDTGNCGNC Holdings reports Q4 SSS up 0.8%
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06:53 EDTGNCGNC Holdings reports Q4 adjusted EPS 63c, consensus 62c
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February 10, 2016
14:32 EDTGNCNotable companies reporting before tomorrow's open
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February 9, 2016
11:00 EDTGNCTPG-Axon reports 6.3% passive stake in GNC Holdings
February 8, 2016
09:31 EDTRATEBankrate initiated with a Buy at Sidoti
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February 5, 2016
12:26 EDTVFCOptions with increasing implied volatility
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12:03 EDTMTXMinerals Technologies: 5% topline growth level in FY16 'reasonable'
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11:53 EDTMTXMinerals Technologies: FY16 to be 'strong' cash flow year
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11:53 EDTMTXMinerals Technologies sees Q1 EPS 95c-$1.00, consensus 99c
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February 4, 2016
17:08 EDTMTXMinerals Technologies reports Q4 adjusted EPS $1.00, consensus 95c
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February 1, 2016
17:33 EDTMTXMinerals Technologies CEO gets employment agreement extended one year
On February 1, Minerals Technologies and Joseph Muscari, the company's Chairman and CEO, entered into a Sixth Amendment to Muscari's Employment Agreement dated November 27, 2006. Pursuant to the Sixth Amendment, the term of Muscari's employment has been increased from nine years to ten years, with the term ending no earlier than March 1, 2017.
16:12 EDTGNCGNC Holdings increases dividend 11.1% to 20c
GNC Holdingsdeclared the quarterly cash dividend for Q1 of 20c per share of the company's common stock, representing an 11.1% increase over its prior quarterly dividend. The dividend will be paid on or about March 25 to stockholders of record as of the close of business on March 11.
January 31, 2016
11:39 EDTWTWS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
January 29, 2016
07:05 EDTMWMen's Wearhouse to implement new structure named Tailored Brands
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