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Stock Market & Financial Investment News

News Breaks
August 12, 2014
13:43 EDTM, MSO, JCPEarnings Preview: Analyst sees Macy's lowering EPS, SSS guidance for FY14
Macy's (M) is scheduled to report second quarter earnings before the market open on Wednesday, August 13, with a conference call scheduled for 10:30 am ET. Macy's is a retailer that sell a range of merchandise, including apparel and accessories, cosmetics, home furnishings and other consumer goods. EXPECTATIONS: Analysts are looking for earnings per share of 86c on revenue of $6.3B, according to First Call. The consensus range for EPS is 79c-89c on revenue of $6.2B-$6.38B. LAST QUARTER: Macy's reported first quarter EPS of 60c, against estimates for 59c, on revenue of $6.28B, against estimates for $6.46B. Same-store sales in the quarter were down 1.6% for the quarter. Macy's backed its fiscal year 2014 EPS guidance of $4.40-$4.50. The consensus for FY14 EPS is $4.47. The company, which announced a 25% increase to its dividend and a $1.5B increase to its share repurchase authorization, forecast FY14 SSS growth of 2.5%-3%. NEWS: On its last earnings conference call, Macy's forecast margins for the full year "flattish" to down slightly, and said that underlying consumer demand was strong enough to enable the company to achieve annual guidance. During the quarter, J.C. Penney (JCP) appealed a New York state court decision that ruled the company interfered with a contract between Macy's and Martha Stewart (MSO) by selling the celebrity's home products. STREET RESEARCH: Morgan Stanley added Macy's to the Best Ideas List citing consistent execution, leading free-cash-flow yield, strong management and strategies, and superior omni-channel capabilities. Deutsche Bank believes Macy's FY14 same-store-sales guidance of up 2.5%-3% is likely to be revised lower and its earnings outlook of $4.40-$4.50 could be cut by 5c-10c given the shortfall in Q1 and the promotional environment. PRICE ACTION: Over the last three months, Macy's shares are up almost 5%. The stock is trading down fractionally to $60.09 ahead of tomorrow's report.
News For M;JCP;MSO From The Last 14 Days
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April 15, 2015
11:09 EDTJCPJ.C. Penney rally would be opportunity to issue shares, says Imperial Capital
Imperial Capital continues to expect elevated debt levels to erode the value of J.C. Penney shares, but it thinks favorable operating momentum could drive the stock price above $10. Imperial believes such a rally would provide Penny with a "great opportunity" to issue additional shares to pay down debt. The firm keeps an Underperform rating on Penny with a $3 price target. Shares of the retailer are up 9c to $9.23 in late morning trading.
April 14, 2015
11:47 EDTJCPJ.C. Penney business on 'more stable footing,' says Baird
Baird analyst Mark Altschwager says J.C. Penney's business is on "more stable footing" after the retailer reported a quarter-to-date comp of 6% and provided Q1 comp guidance above consensus. Altschwager raised his price target for shares to $10 from $9 but keeps a Neutral rating on Penny. He believes meaningful free cash flow growth will be challenging as investment needs normalize.
08:55 EDTJCPJ.C. Penney sees Q1 SSS up 3.5%-4.5%
J.C. Penney said in a regulatory filing that on April 13, the company became aware that a senior official of the company inadvertently sent an e-mail communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for Q1 to date, which are approximately 6%. Based on results to date, and taking into account the shift of Easter into the fiscal month of March this year, the company currently expects comparable store sales for Q1 to be in the range of 3.5%-4.5%.
April 13, 2015
06:22 EDTJCPGap, Target, others scrutinized by NY AG over staffing practices, WSJ says
Several major retailer including Gap (GPS) and Target (TGT) are under investigation by New York Attorney General Eric Schneiderman over their staffing practices and whether they require workers to show up or stay home with little notice, The Wall Street Journal reports. Schneiderman sent letters warning Abercrombie & Fitch (ANF), JC Penney (JCP), Urban Outfitters (URBN), TJX Cos (TJX), Ann Inc (ANN), L Brands (LB), Burlington Stores (BURL), Sears Holdings (SHLD), Williams-Sonoma (WSM) and J Crew Group that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. Reference Link
April 10, 2015
10:00 EDTMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bemis (BMS) upgraded to Buy from Neutral at BofA/Merrill... Gigamon (GIMO) upgraded to Outperform from Market Perform at William... Global Payments (GPN) upgraded to Overweight from Equal-Weight at First Analysis... Knight Transportation (KNX) upgraded on valuation, catalysts at Stifel... Macy's (M) upgraded to Buy from Neutral at Buckingham... Netflix (NFLX) upgraded to Buy from Neutral at Citigroup... Reckitt Benckiser (RBGLY) upgraded to Buy from Neutral at UBS... Union Pacific (UNP) upgraded on valuation, growth outlook at Stifel... Weatherford (WFT) upgraded to Outperform from Sector Perform at RBC Capital.
08:24 EDTMMacy's upgraded at Buckingham
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07:51 EDTMMacy's upgraded to Buy from Neutral at Buckingham
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April 9, 2015
09:18 EDTM, JCPBofA/Merrill retail analysts hold an analyst/industry conference call
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April 6, 2015
14:48 EDTMMacy's management to meet with JPMorgan
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