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Stock Market & Financial Investment News

News Breaks
August 13, 2014
11:46 EDTM, JWN, JCPMacy's shares trading lower as Q2 results fall short of expectations
Shares of Macy's (M), a retailer that sells a range of merchandise, including apparel, accessories and home furnishings, are lower after the company's second earnings missed analysts' expectations. WHAT'S NEW: The company reported Q2 earnings per share 80c on revenue of $6.23B, falling short of analysts' estimates of 86c and $6.3B, respectively. Comparable sales were up 3.4% for the quarter and comparable sales together with comparable sales of departments licensed to third parties were up 4%. Chief Executive Officer Terry Lundgren noted that even with an improved sales trend in Q2, the company could not make up its sales shortfall from the first quarter. Looking ahead, Macy's reaffirmed its fiscal year 2014 EPS view of $4.40-$4.50 against estimates of $4.47, but cut its FY14 SSS view to 1.5%-2% from 2.5%-3%. Second half same store sales are expected to be up 2%-3%, and the company said expectations for the second half of the year are "on track." Lundgren said the company is approaching 2H with "confident optimism." WHAT'S NOTABLE: On the company's earnings conference call, Macy's Chief Financial Officer Karen Hoguet said the retail expects third quarter SSS to be lower than fourth quarter, adding that it "feels good" about the back half of the year. Macy's said that it sees fall season EPS, or the combined EPS for Q3 and Q4, of $3.04-$3.14 and expects total sales for the second half of the year to be about 30 basis points lower than comp growth. Macy's sees gross margins flat to down slightly for the year and fall season. ANALYST OPINION: This morning, UBS analysts said the Q2 miss could signal Macy's have been unable to generate incremental margin support from brands into increasingly promotional sales trends. Morgan Stanley analysts, meanwhile, believes the Q2 miss and the pullback in shares will be temporary and it presents a buying opportunity. The firm expects more margin misses over the next few weeks due to the promotional environment and remains convinced that Macy's key strategies are still in the early stages of delivering results. PRICE ACTION: In late-morning trading, shares of Macy's dropped $2.89, or 4.84%, to $56.88. OTHERS TO WATCH: J.C. Penney (JCP), which reports earnings tomorrow, is down 2.15%. Nordstrom (JWN), which also reports earnings tomorrow, is relatively flat.
News For M;JCP;JWN From The Last 14 Days
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May 13, 2015
10:34 EDTMMacy's falls after earnings disappoint, levels to watch
Shares had bounced from the open, but have resumed their downside slide with price last at $63.59, down over 2.5%. At current price support is at $62.36. The $62 area has been important support for the shares since November of last year. Resistance is at $64.44.
09:57 EDTMMacy's sees Q2 comps positive, but not reaching 2% annual guidance
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09:56 EDTMEquity options with increasing volume
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09:49 EDTMMacy's sees Bluemercury breakeven to EPS this year
09:31 EDTMMacy's CFO says studying real estate transactions closely
Says hasn't yet seen real estate deal that makes sense.
09:21 EDTMOn The Fly: Pre-market Movers
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09:20 EDTMMacy's CFO says expects Q2 EPS below last year
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09:08 EDTMMacy's CFO says 'still comfortable' with guidance for FY15
CFO Karen Hoguet says "disappointed but not discouraged" in Q1 results. Says still comfortable with guidance for FY15. Says sales from international tourists "down significantly," cites strong dollar. Says tourism sales fell double digits in Q1, sees continued decline in tourism at least through summer. Says weather "clearly played a role" in Q1 results. Comments made on the Q1 earnings conference call. Macy's is down 1.04% in pre-market trading.
08:08 EDTMMacy's drops 2% after Q1 earnings miss expectations
08:06 EDTMMacy's reports Q1 comparable sales on owned plus licensed basis down 0.1%
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08:05 EDTMMacy's boosts dividend 15% to 36c, raises share buyback authorization by $1.5B
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08:03 EDTMMacy's reiterates FY15 EPS view $4.70-$4.80, consensus $4.75
Macy’s continues to expect comparable sales growth on an owned plus licensed basis of approximately 2% in FY15, with comparable sales slightly lower on an owned basis. The company continues to expect total sales growth of approximately 1%, consensus $28.44B.
08:02 EDTMMacy's boosts dividend 15%, raises share buyback authorization by $1.5B
08:01 EDTMMacy's reports Q1 EPS 56c, consensus 62c
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May 12, 2015
16:01 EDTJCPOptions Update; May 12, 2015
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15:00 EDTMNotable companies reporting before tomorrow's open
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14:09 EDTMMacy's May volatility increases into Q1 and outlook
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12:44 EDTMEarnings Watch: Macy's sees FY15 EPS $4.70-$4.80, total sales up about 1%
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11:37 EDTJCPStocks with call strike movement; TWTR JCP
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May 11, 2015
16:00 EDTJCPOptions Update; May 11, 2015
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