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Stock Market & Financial Investment News

News Breaks
February 27, 2013
16:47 EDTJWNNordstrom announces $800M share repurchase and 11% dividend raise
Nordstrom announced that its board of directors has authorized a repurchase program of up to $800M of the company’s outstanding common stock, through March 1, 2015. The shares are expected to be acquired through open market transactions. This program is in addition to the Company’s existing repurchase program that was approved by the board in February 2012. The existing repurchase program has $344 million outstanding, as of February 26, 2013, and will expire on February 1, 2014. Nordstrom also announced today that its board of directors has approved a quarterly dividend of 30 cents per share, an increase of 11% over the previous quarter’s dividend. The dividend is payable on March 22, 2013 to shareholders of record at the close of business on March 11, 2013.
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October 16, 2014
10:01 EDTJWNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Akamai (AKAM) downgraded to Market Perform from Outperform at Wells Fargo... CGG SA (CGG) downgraded to Reduce from Neutral at Nomura... Central Valley Community (CVCY) downgraded to Hold from Buy at Sandler O'Neill... DSM (RDSMY) downgraded to Neutral from Buy at Nomura... Disney (DIS) downgraded at Guggenheim... Francesca's (FRAN) downgraded to Underperform from Outperform at Macquarie... Netflix (NFLX) downgraded to Fair Value from Buy at CRT Capital... Nordstrom (JWN) downgraded to Neutral from Outperform at Macquarie... Norfolk Southern (NSC) downgraded at Credit Suisse... Rio Tinto (RIO) downgraded to Market Perform at Cowen... Seadrill (SDRL) downgraded to Reduce from Neutral at Nomura... Ternium (TX) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Neutral from Outperform at Macquarie... Viacom (VIAB) downgraded at BofA/Merrill... eBay (EBAY) downgraded to Underperform from Buy at CLSA... lululemon (LULU) downgraded to Underperform from Neutral at Macquarie.
05:48 EDTJWNNordstrom downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Nordstrom to Neutral after assuming coverage of the stock citing potential margin pressure in FY15 from incremental Trunk Club costs. The firm lowered its price target for shares to $70 from $77.

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