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Stock Market & Financial Investment News

News Breaks
July 10, 2014
10:18 EDTLL, TTS, HD, TSCO, LOWHome Depot, Lowe's estimates cut after warnings from floor, farm retailers
Weak results from Tractor Supply (TSCO) and Lumber Liquidators (LL) do not bode well for Home Depot (HD) and Lowe's (LOW) near-term outlook, Deutsche Bank warned in a note to investors earlier today. WHAT'S NEW: After hardwood floors retailer Lumber Liquidators and farm products retailer Tractor Supply pre-announced weaker than expected Q2 results, Deutsche Bank analyst Mike Baker reduced his estimates for Home Depot and Lowe's. The comparative sales of Home Depot and Lowe's have historically had a positive correlation with those of Tractor Supply and Lumber Liquidators, explained Baker. Lumber Liquidators, like Home Depot and Lowe's, is exposed to housing markets, the analyst stated. Meanwhile, like Tractor Supply, Home Depot and Lowe's are exposed to the outdoor/weather sensitive sector, according to Baker. However, there are differences in the companies' business models, and comparative sales at Home Depot and Lowe's are probably trending better than at Tractor Supply and Lumber Liquidators, Baker believes. He lowered his second quarter comparative sales growth forecast for Lowe's to 4% from 4.5%, and for Home Depot to 4.5% from 5%. Baker's Q2 EPS estimates for both home improvement companies are now 1c below consensus levels. He kept a Buy rating on Lowe's and Hold ratings on Home Depot and Tractor Supply. PRICE ACTION: In early trading, Home Depot fell 2% to $79.07, Lowe's declined 1.8% to $47.02, Tractor Supply tumbled 5% to $58.23, and Lumber Liquidators plunged 22% to $54.70. Shares of Tile Shop (TTS), which is also exposed to housing markets, fell 11% to $11.55 in early trading.
News For LOW;HD;LL;TSCO;TTS From The Last 14 Days
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November 18, 2014
09:20 EDTHDOn The Fly: Pre-market Movers
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07:47 EDTHDHome Depot mispriced given point in housing cycle, says Janney Capital
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07:33 EDTLOWLowe's November volatility elevated into Q3 and outlook
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07:32 EDTTSCOTractor Supply announces plans for new distribution center in AZ
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06:06 EDTHDHome Depot backs FY14 EPS view of about $4.54, consensus $4.50
Backs FY14 revenue guidance of up approximately 4.8%. This earnings-per-share guidance includes the benefit of the company's year-to-date share repurchases of $5.74B and the company's intent to repurchase an additional $1.26B of shares in the fourth quarter. The earnings-per-share guidance also includes an estimate of net breach-related costs of approximately $34M for the year. The company's FY14 diluted EPS guidance does not include an accrual for other probable losses related to the breach that cannot be estimated at this time. Other than the breach-related costs contained in the company's updated FY14 diluted EPS guidance, at this time the company is not able to estimate the costs, or a range of costs, related to the breach. Costs related to the breach may include liabilities to payment card networks for reimbursements of credit card fraud and card reissuance costs; liabilities related to the company's private label credit card fraud and card reissuance; liabilities from current and future civil litigation, governmental investigations and enforcement proceedings; future expenses for legal, investigative and consulting fees; and incremental expenses and capital investments for remediation activities. Those costs may have a material adverse effect on the company's financial results in Q4 and/or future periods.
06:02 EDTHDHome Depot reports Q3 EPS $1.15, consensus $1.13
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November 17, 2014
15:16 EDTHDNotable companies reporting before tomorrow's open
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14:31 EDTHDHome Depot November 99 straddle priced for 3.4% move into Q3
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14:25 EDTHDHome Depot technical notes ahead of earnings
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14:21 EDTHDEarnings Preview: Home Depot shares up over 17% since last earnings report
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09:36 EDTHDActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
08:41 EDTHDHome Depot November volatility elevated into Q3 and outlook
Home Depot November call option implied volatility is at 38, December is at 21, January is at 20; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 18.
07:54 EDTLOWLowe's price target raised to $68 from $60 at RW Baird
Baird raised its price target on Lowe's to $68 from $60 citing the company's firming sales, solid comps, and operational improvements. Baird reiterated its Outperform rating on Lowe's, which is scheduled to release its Q3 results on November 19.
November 14, 2014
10:00 EDTHDOn The Fly: Analyst Downgrade Summary
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09:34 EDTHDHome Depot downgraded to Hold from Buy at Zelman
November 12, 2014
13:32 EDTHDEarnings Preview: J.C. Penney lowered Q3 SSS view, affirms FY14 metrics in Q3
J.C. Penney (JCP) is scheduled to report third quarter earnings after the market close on Wednesday, November 12, with a conference call scheduled for 4:30 pm ET. J.C. Penney operates about 1,100 retail stores and jcp.com. EXPECTATIONS: Analysts are looking for a loss per share of (80c) on revenue of $2.81B, according to First Call. The consensus range for EPS is (95c)-(54c) on revenue of $2.72B-$2.93B. LAST QUARTER: J.C. Penney reported second quarter adjusted EPS of (75c) against estimates for (93c), on revenue of $2.8B against estimates for $2.79B. Comparable store sales increased 6% for the quarter and online sales through jcp.com were up 16.7% from the year-ago period to $249M. On its Q2 earnings conference call, the company said that expected a "profitable" sales in the back-to-school season, adding that the company could see some "anomalies" in expense during Q3. NEWS: During the quarter, J.C. Penney announced the appointment of Marvin Ellison, EVP of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board, and succeed Myron E. Ullman, III as CEO of the company on August 1, 2015, at which time Ullman will become executive chairman of the board for a period of one year. At its analyst day in October, the retailer lowered its Q3 SSS view to low single digit growth from its previous view of mid single digit growth. J.C. Penney also warned investors that its September sales were weaker than expected. Despite lowering its SSS forecast, the retailer reaffirmed the rest of its quarterly guidance, including gross margins and SG&A expenses, and maintained all of its fiscal year 2014 guidance metrics, including mid-single digit SSS growth and positive free cash flow. STREET RESEARCH: Cleveland Research said J.C. Penney's challenging sales trends continued in October and is positioning to increase promotional activity during the holiday season. Wells Fargo, which has an Underperform rating on the stock, said that Ellison lacks expertise in apparel and accessories, where J.C. Penney is having a tough time. J.C. Penney shares could drop 35% if the company misses on sales growth estimates, Barron's said. PRICE ACTION: Over the last three months, J.C. Penney shares are down almost 20%. In morning trading today ahead of tonight's Q3 report, J. C. Penney's stock is up almost 6% to $7.61.
08:01 EDTHDHome Depot price target raised to $113 from $102 at Jefferies
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November 11, 2014
12:37 EDTLOWLowe's November volatility elevated into Q3 and outlook
Lowe's November call option implied volatility is at 28, December is at 22, January and April is at 18; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 19.
07:09 EDTHDHome Depot November volatility elevated into Q3 and revenue outlook
Home Depot November call option implied volatility is at 24, December is at 20, January is at 18; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 18.
November 10, 2014
08:27 EDTTSCOTractor Supply remains a breed apart, says RW Baird
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