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News Breaks
January 8, 2014
09:27 EDTLBL Brands checks indicate December trends disappointing, says Cleveland Research
Cleveland's checks indicate L Brands trends are disappointing driven by Bath & Body Works weakness. The firm lowered its Q4 EPS estimate to $1.75 from $1.79 and is cautious on the near-term outlook.
News For LB From The Last 14 Days
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February 12, 2016
16:24 EDTLBOn The Fly: Top stock stories for Friday
Stocks began the session in positive territory and never looked back. The early catalyst was a rally in oil prices, which continued moving higher throughout the day and settled up more than 12%. The rally was spurred by comments that came to light late in the day yesterday from the United Arab Emirates' energy minister, who said the Organization of the Petroleum Exporting Countries was willing to cooperate on an output cut. Despite today's strong performance by each of the major equity indexes, the market still had a down week, as today's rally came on the heels of four very tough days. U.S. markets will be closed Monday for President's Day, but Chinese markets will reopen after being closed all of this week for their celebration of New Year. ECONOMIC EVENTS: In the U.S., retail sales increased 0.2% in January, versus expectations for an increase of 0.1%. Import prices dropped 1.1%, while export prices fell 0.8% last month. The University of Michigan's consumer sentiment index fell to 90.7 in the preliminary February print, versus expectations for a 92.3 reading. In Europe, the euro zone's gross domestic product grew by 0.3% in the last three months of 2015, meeting expectations. In Asia, Japan suffered another ugly day, with its key indexes each falling about 5%, after the market reopened following a one-day holiday. COMPANY NEWS: Shares of Jack Dorsey's point-of-sale payment firm Square (SQ) advanced 7.9% to $9.30 after credit card giant Visa (V) disclosed details about the stake it holds in the company. Visa, which made an investment in the start-up prior to its IPO, disclosed in a filing that it owns Class B shares of Square that could be converted into about 3.52M Class A shares, which would leave Visa with about 10% of that class of shares. Shares of Twitter (TWTR), which is also headed by Jack Dorsey, followed Square higher, rising 11% to $15.89... Also rising were shares of JPMorgan (JPM), which gained 8.3% to close at $57.46 after CEO Jamie Dimon disclosed he bought 500,000 shares of the bank's stock in the open market yesterday. MAJOR MOVERS: Among the noteworthy gainers was Intercept Pharmaceuticals (ICPT), which jumped 27.5% to $120.22 after Reuters reported that the company received interest from potential suitors and is now exploring a possible sale. Also higher was Groupon (GRPN), which rallied 29% to $2.89 after the Internet deal service operator reported better than expected quarterly results. Among the notable losers was Pandora (P), which fell 12% to $7.99 after the company reported lower than expected fourth quarter earnings after last night's closing bell. The pullback comes on the heels of the stock's 8.5% advance yesterday after the New York Times said the music service operator has held talks about selling the company. On the company's earnings conference call last night, Pandora's management said that they won't comment on any potential sale of the company, adding that they are "very confident" in their ability to continue to drive significant value for holders. Also lower after reporting quarterly results was videogame maker Activision Blizzard (ATVI), which slid 7.9%. Meanwhile, shares of L Brands (LB) fell 2.5% after announcing that Victoria's Secret CEO Sharen Jester Turney will resign. INDEXES: The Dow rose 313.66, or 2.0%, to 15,973.84, the Nasdaq gained 70.68, or 1.66%, to 4,337.51, and the S&P 500 added 35.70, or 1.95%, to 1,864.78.
11:54 EDTLBVictoria's Secret names Les Wexner CEO
L Brands announced that Victoria's Secret CEO Sharen Jester Turney has made the decision to resign. Leslie Wexner, Chairman and CEO of L Brands, will assume leadership of Victoria's Secret. Turney will continue to serve as an advisor to the business.
February 8, 2016
10:00 EDTLBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amedisys (AMED) upgraded to Outperform from Perform at Oppenheimer... American Campus (ACC) upgraded to Buy at Canaccord... Beacon Roofing (BECN) upgraded to Strong Buy from Outperform at Raymond James... Big 5 Sporting (BGFV) upgraded on potential Sports Authority closures at Stifel... CenterState Banks (CSFL) upgraded to Outperform from Market Perform at Fig Partners... Cisco (CSCO) upgraded to Neutral from Underperform at Macquarie... Dollar Tree (DLTR) upgraded to Outperform from Market Perform at Telsey Advisory... Dow Chemical (DOW) upgraded to Positive from Neutral at Susquehanna... Essex Property Trust (ESS) upgraded to Buy from Neutral at Mizuho... Globant (GLOB) upgraded to Buy from Neutral at Citi... Kinross Gold (KGC) upgraded on valuation, higher gold price at BMO Capital... L Brands (LB) upgraded to Buy from Hold at Brean Capital... Marvell (MRVL) upgraded to Buy from Sell at B. Riley... Munich Re (MURGY) upgraded to Neutral from Underperform at Credit Suisse... OM Asset Management (OMAM) upgraded to Buy from Neutral at Citi... Orbital ATK (OA) upgraded to Overweight from Sector Weight at KeyBanc... SCANA (SCG) upgraded to Buy from Neutral at Mizuho... Sensient (SXT) upgraded to Buy from Hold at Gabelli... St. Jude Medical (STJ) upgraded to Hold from Sell at Canaccord... Suffolk Bancorp (SCNB) upgraded to Outperform from Market Perform at Fig Partners... Supernus (SUPN) upgraded to Buy from Hold at Jefferies... Ultimate Software (ULTI) upgraded to Outperform from Market Perform at FBR Capital... ZAGG (ZAGG) upgraded to Outperform from Market Perform at Northland... athenahealth (ATHN) upgraded to Buy from Hold at Topeka.
06:08 EDTLBL Brands upgraded to Buy from Hold at Brean Capital
Brean Capital analyst Liz Pierce upgraded L Brands to Buy saying the stock is oversold following January's comp miss. The analyst sees a buying opportunity and current share levels and has a $100 price target for the name.
February 4, 2016
14:53 EDTLBL Brands pullback a buying opportunity, says Morgan Stanley
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09:18 EDTLBOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Glu Mobile (GLUU), up 21.9%... Solaredge Technologies (SEDG), up 11.2%... Cadence Design (CDNS), up 6.6%. ALSO HIGHER: VirnetX Holding (VHC), up 91.7% after the company won a $625.6M verdict in favor of in a patent infringement lawsuit against Apple (AAPL)... Viacom (VIAB), up 5.1% after CNBC's David Faber reported that sources said CEO Philippe Dauman is likely to be named Chairman despite objections from Shari Redstone. DOWN AFTER EARNINGS: GoPro (GPRO), down 16.4%... ConocoPhillips (COP), down 2.9%... Dunkin Brands (DNKN), down 2.1%... Philip Morris (PM), down 3.2%. ALSO LOWER: L Brands (LB), down 3.3% after providing Q4 guidance, reporting January Same-Store Sales were down 2%... MannKind (MNKD), down 8.1% after Piper Jaffray analyst Joshua Schimmer calls the company a penny stock with a mid-cap valuation.
07:21 EDTLBL Brands reports January SSS down 2%
L Brands said net sales for the four-week period ended Jan. 30 were $811.3M, an increase of 4% from last year. Comparable store sales for the four weeks ended Jan. 30 decreased 2%. January sales results were negatively impacted by a timing shift in the Victoria's Secret semi-annual sale into December, the company said. Absent the estimated impact of this timing shift, total company comps would have increased 1% in January.
07:19 EDTLBL Brands boosts share repurchase program to $500M
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07:19 EDTLBL Brands raises annual dividend by 20%, declares special dividend of $2.00
L Brands is increasing its annual ordinary dividend by 20%, to $2.40 per share from $2.00 per share. In addition, the company announced a special dividend of $2.00 per share. The quarterly ordinary dividend of 60c per share and the $2.00 special dividend will be paid on March 4, to shareholders of record on Feb. 19. The company said, "We achieved our best year ever in 2015. I am very appreciative of the focus on our customers, the excellent execution and teamwork across the enterprise that drove this result. The dividend and share repurchase actions announced today reflect confidence in our growth opportunities and commitment to delivering shareholder value.:
07:17 EDTLBL Brands sees Q4 EPS about $2.05, consensus $2.00
Reports Q4 revenue $4.395B, consensus $4.37B. Comparable store sales for the Q4 ended Jan. 30, 2016, increased 6%.

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