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Stock Market & Financial Investment News

News Breaks
May 20, 2014
12:36 EDTLOW, HDEarnings Preview: Lowe's shares nearly flat ahead of Q1 earnings report
Lowe's Companies (LOW), a home improvement retailer, is scheduled to report on its first quarter before the market open on Wednesday, May 21, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 60c on revenue of $13.86B, according to First Call. The consensus range for EPS is 56c-63c on revenue of $13.56B-$14.26B. LAST QUARTER: Lowe's reported fourth quarter adjusted EPS of 31c, in-line with estimates, on revenue of $11.66B against estimates for $11.67B. The company also reported Q4 same-store sales rose 3.9%. Lowe's forecast fiscal year 2014 EPS guidance of $2.60 against estimates at that time for $2.64 and said it expects total sales growth of 5% in this fiscal year compared to last. Lowe's said it expected to open 15 home improvement and 5 hardware stores in 2014 and expects its FY13 SSS to increase approximately 4%. The company said its board authorized the repurchase of an additional $5B in company stock. On its earnings conference call, Lowe's said it was taking a "cautious" approach due to the slowdown in housing activity. The company said first half comps would be modestly higher than second half. The company forecast $3.4B in share repurchases in 2014, spread evenly across all quarters. Free cash flow for the year is expected $2.9B and capital expenditures is forecast at $1.2B. NEWS: During the quarter, Lowe's appointed Michael Jones as Chief Customer Officer, succeeding Gregory Bridgeford. At the UBS Global Consumer Conference, Lowe's said the housing industry may grow at a higher rate than GDP and sees another good year of home prices going up. It also expects homeowners will continue to be reengaged in discretionary spending around the home. Lowe's and Porch.com announced the expansion of their strategic partnership to the more than 1,700 Lowe's home improvement stores across the U.S. STREET RESEARCH: Oppenheimer upgraded its rating on Lowe's to Outperform from Perform on expectations sales will improve as the winter weather gives way to more favorable spring conditions. Wedbush downgraded Lowe's to Neutral from Outperform to reflect slower housing trends and continued investment. OTHERS TO WATCH: This morning, Lowe's rival Home Depot (HD) reported Q1 EPS of $1.00 on revenue of $19.69B, beating analysts' estimates. The company also raised its FY14 EPS view to $4.42, in-line with estimates, and backed its FY14 revenue guidance of up 4.8% from FY13, sending shares up around 2% in mid-morning trading. PRICE ACTION: Over the last three months, Lowe's shares are down around 2.3%. In morning trading ahead of tomorrow's report, Lowe's is relatively flat at $45.52.
News For LOW;HD From The Last 14 Days
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October 1, 2014
06:11 EDTHDStocks with implied volatility below IV index mean; HD NKE
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September 29, 2014
06:08 EDTHDStocks with implied volatility below IV index mean; LULU HD
Stocks with implied volatility below IV index mean; lululemon (LULU) 31, Home Depot (HD) 16 according to iVolatility.
September 26, 2014
06:09 EDTHDStocks with implied volatility below IV index mean; LULU HD
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September 25, 2014
06:11 EDTHDStocks with implied volatility below IV index mean; BP HD
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September 24, 2014
08:29 EDTLOWLowe's management to meet with Deutsche Bank
Meeting to be held in Los Angeles on September 24 hosted by Deutsche Bank.
September 23, 2014
17:13 EDTHDData breach at Home Depot triggers fraudulent transactions across U.S., WSJ says
The recent data breach at Home Depot has triggered fraudulent transactions across the U.S. at financial institutions and customer bank accounts, The Wall Street Journal reports, citing people familiar with the impact of the hacking attack. Large financial institutions have proactively started reissuing cards to customers who are victims of the Home Depot data breach, while others are reissuing cards only when they experience fraud attempts. Reference Link
08:56 EDTLOWLowe's management to meet with Deutsche Bank
Meetings to be held in San Mateo/San Francisco/Los Angeles on September 23 hosted by Deutsche Bank.
September 22, 2014
09:54 EDTLOWLowe's management to meet with Deutsche Bank
Meeting to be held in San Francisco on September 22 hosted by Deutsche Bank.
September 19, 2014
18:20 EDTLOWLowe's CEO Niblock sells nearly $28M of company stock near record high
In regulatory filings, it was disclosed that Lowe's CEO Robert A. Niblock sold nearly $28M worth of company stock from September 9-11. Lowe's stock has been climbing steadily over the past three months, and it made both a 52-week and record high of $54.81 on Friday, September 19.
September 18, 2014
16:28 EDTHDHome Depot raises FY15 EPS view to $4.54 from $4.52, consensus $4.50
Based on Q3 results to date, the company confirmed its previous FY14 sales growth guidance of approximately 4.8%. The company also revised its FY14 diluted EPS growth guidance and expects that FY14 diluted EPS will grow by 21% to approximately $4.54, versus the company's prior guidance of $4.52. The company's FY14 diluted EPS guidance includes estimates for the cost to investigate the data breach, provide credit monitoring services to its customers, increase call center staffing, and pay legal and professional services, all of which are expensed as incurred in a gross amount of approximately $62M, partially offset by a $27M receivable for costs the company believes are reimbursable and probable of recovery under its insurance coverage. Further, the company's FY14 diluted earnings-per-share guidance includes a pre-tax gain of approximately $100M related to the sale of 3.6M shares of HD Supply common stock, which occurred and will be recognized in Q3. The company's ownership of HD Supply is now approximately 8.2M shares. The company's FY14 diluted EPS guidance does not include an accrual for other yet-to-be determined estimated probable losses related to the breach. At this time, other than the breach-related costs contained in the company's updated FY14 diluted earnings-per-share guidance, the company is not able to estimate the costs, or a range of costs, related to the breach.
16:26 EDTHDHome Depot reports cyber attack put 56M unique payment cards information at risk
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16:23 EDTHDHome Depot completes malware elimination, enhanced encryption of payment data
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16:22 EDTHDHome Depot completes malware elimination, enhanced encryption of payment data
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10:40 EDTLOW, HDPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
September 17, 2014
13:51 EDTHDJPMorgan to replace some credit cards following Home Depot breach, Reuters says
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