New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 13, 2013
07:13 EDTJWNNordstrom unlikely to raise full-year guidance, says Piper Jaffray
Piper Jaffray does not expect Nordstrom to raise its full-year earnings guidance when reporting Q1 results this Thursday. However, Piper thinks the company's fundamentals remain strong and reiterates an Overweight rating on the stock with a $64 price target.
News For JWN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 5, 2015
10:55 EDTJWNOptions with increasing implied volatility: FOLD JWN PMCS SLH WFM
October 2, 2015
09:44 EDTJWNOptions with increasing volume
Subscribe for More Information
07:26 EDTJWNNordstrom special dividend may disappoint some investors, says UBS
UBS analyst Michael Binetti believes Nordstrom's (JWN) decision to use $900M of the proceeds from its credit card transaction with TD Bank (TD) for a large special dividend may disappoint some investors, but thinks its significantly improved future free cash flow profile should balance things out for long-term holders. Binetti notes that Nordstrom shares are down about 9% since earnings amid sector fears of decelerating U.S. traffic, but he thinks the company's exposure to key growth areas within softlines and the low risk to its guidance continue to make the stock a Buy. The analyst keeps an $86 price target on Nordstrom shares.
October 1, 2015
19:23 EDTJWNOn The Fly: After Hours Movers
UP AFTER EARNINGS: CalAmp (CAMP), up 9%... Micron Technology (MU), up 7%. ALSO HIGHER: bebe stores (BEBE), up 12.7% after reaffirming its first quarter guidance and announcing that its September Same Store Sales turned positive... Coherus Biosciences (CHRS), up 7.5% after CHS-1701 PK/PD study met primary PD endpoints... Nordstrom (JWN), up 3.6% after announcing a special cash dividend and additional $1B repurchase program. DOWN AFTER EARNINGS: Progress Software (PRGS), down 15.7%. ALSO LOWER: Keurig Green Mountain (GMCR), down 3.1% after disclosing the that president of U.S. sales and marketing, John Whoriskey, resigned... T-Mobile (TMUS), down 1.4% after Experian (EXPGY) disclosed a data breach affecting T-Mobile customers... XenoPort (XNPT), down 5.2% after announcing that the company will discontinue the development of XP23829.
16:25 EDTJWNNordstrom announces special cash dividend, additional $1B repurchase program
Nordstrom announced the closing of its credit card transaction with TD Bank U.S.A., N.A, including the sale of its credit card portfolio and the initiation of the long-term agreement under which TD is the exclusive U.S. issuer of Nordstrom-branded Visa and private label consumer credit cards. This transaction supports Nordstrom's strategy to enhance the customer experience while allowing for improvement in capital efficiency. As previously announced on May 26, Nordstrom will continue to perform all customer-facing account servicing functions, maintaining the customer-focused integration between its credit and retail operations. The Company will also continue to fund and manage the Nordstrom Rewards loyalty program, Nordstrom debit cards and Nordstrom employee accounts. This transaction is designed to have virtually no service impact on Nordstrom cardholders, customers and employees. The Company sold its credit card portfolio to TD for $2.2B, representing the gross value of the outstanding receivables. In conjunction with the transaction, the Company prepaid $325M of secured debt due October 2016 to provide the receivables free and clear.The Company intends to deploy net proceeds of $1.8B, after $325M in debt reduction and transaction costs between $35M and $45M, directly to shareholders through dividend and share repurchase. In connection with the closing, its board of directors authorized a special cash dividend and an additional $1B share repurchase program:The special cash dividend of $4.85 per share of outstanding common stock will be payable on October 27, to shareholders of record at the close of business on October 12. The Company expects the aggregate payment to be approximately $900M. The authorized share repurchase program is up to $1B of the Company's outstanding common stock, through March 1, 2017. The actual number, price, manner and timing of future share repurchases, if any, will be subject to market and economic conditions and applicable Securities and Exchange Commission rules. This program is in addition to the Company's existing repurchase program that was approved by its board in September 2014. The existing repurchase program has $591M outstanding as of September 30, and will expire on March 1, 2016.
September 30, 2015
10:05 EDTJWNHigh option volume stocks
Subscribe for More Information
09:03 EDTJWNMetLife leads insurers giving $1B, 12-year loan to refinance luxury mall
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use