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News For WMT;TGT;SKS;MA;GPS From The Last 14 Days
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September 30, 2015
09:28 EDTGPSRalph Lauren volatility flat into appointing Gap's global president as CEO
Ralph Lauren (RL) October call option implied volatility is at 33, November is at 34; compared to its 52-week range of 17 to 43, suggesting non-directional price movement into appointing Gap's (GPS) global president of Old Navy as CEO.
09:13 EDTGPSOn The Fly: Pre-market Movers
HIGHER: Mediwound (MDWD), up 25.5% after being awarded a BARDA contract valued up to $112M... Novavax (NVAX), up 8.4% after RSV F vaccine meets safety endpoints in its Phase 1 clinical trial... Western Digital (WDC), up 11.7% after receiving a $3.78B equity investment by Unisplendour Corporation... Esperion Therapeutics (ESPR), up 9.9% after being upgraded to Neutral from Sell at Chardan and after JPMorgan said they still see longer-term upside in the shares... Pericom Semiconductor (PSEM), up 6.5% after Montage Technology proposes to acquire the company for $18.50 per share... Fiat Chrysler (FCAU), up 5.2% after CNBC reported that the company could launch Ferrari's IPO as soon as Friday. NOTABLE: Ralph Lauren (RL), up 6.4% after appointing Gap's (GPS) global president of Old Navy, Stefan Larsson as CEO... Gap is down 7.4%. DOWN AFTER EARNINGS: Barracuda Networks (CUDA), down 28.5%... Costco (COST), down a half a percent.
06:57 EDTGPSLarsson leaving Gap doesn't reflect near-term issues at Old Navy, says Baird
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06:51 EDTGPSGap downgraded to Underperform from Neutral at Mizuho
Mizuho analyst Betty Chen downgraded Gap to Underperform and lowered her price target on shares to $26. Chen believes the departure of President Larsson is a "bad omen" for Old Navy performance going forward and a major brain trust loss for the company as both Gap and Banana Republic struggle to refine design and supply chain processes. The analyst lowered Gap estimates below consensus for both FY15 and FY16 given reduced expectations for Old Navy's future performance. Piper Jaffray and UBS also downgraded shares this morning.
06:21 EDTGPSGap downgraded to Underweight from Neutral at Piper Jaffray
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05:55 EDTGPSRalph Lauren upgraded to Buy from Neutral at UBS
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05:46 EDTGPSGap downgraded to Sell from Neutral at UBS
UBS analyst Michael Binetti downgraded Gap (GPS) to Sell saying Old Navy President Stefan Larsson's unexpected departure to Ralph Lauren (RL) reduces his conviction that Old Navy can maintain its momentum. Further, visibility into the turnarounds of the Gap and Banana Republic brands is now "significantly reduced" since Larsson's leadership and processes were at the centerpiece of those efforts, Binetti tells investors in a research note. He cut his price target for Gap shares to $25 from $40. The retailer closed yesterday up 9c to $30.22 and is traded down last night $1.24 to $28.98 following the news.
September 29, 2015
16:33 EDTGPSRalph Lauren appoints Stefan Larsson as CEO
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16:22 EDTGPSRalph Lauren CEO to step down, Gap's Larsson to replace, Bloomberg says
16:19 EDTGPSGap announces Stefan Larsson will step down as global president of Old Navy
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07:11 EDTTGT, WMTWal-Mart expands pick-up service to new markets, Fortune says
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September 28, 2015
19:57 EDTTGT, MARetailers urge courts to reject Visa, MasterCard settlement, Reuters says
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09:31 EDTMASamsung Pay debuts for MasterCard cardholders
Beginning today, Samsung Pay (SSNLF) is now available to MasterCard (MA) cardholders for everyday purchases. Samsung device owners can use their MasterCard credit, debit and select prepaid and small business cards from participating banks directly through Samsung Pay.
06:42 EDTWMT, TGTPerfume makers look to Wal-Mart, Target, WSJ reports
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September 24, 2015
12:12 EDTGPSGap management to meet with Jefferies
Meeting to be held in New York on October 1 hosted by Jefferies.
September 23, 2015
20:08 EDTTGTChinese president visits U.S. amid cybersecurity, copyright worries
As part of his first official U.S. visit, Chinese president Xi Jinping held a meeting with American business leaders on Wednesday to address concerns of copyright infringement and cybersecurity, among numerous topics. In attendance were corporate giants from both nations, including Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Cisco (CSCO), Alibaba (BABA), Tencent (TCEHY), and Baidu (BIDU), according to media reports. COPYRIGHT CONCERNS: Responding to oft-cited concerns of copyright infringement by Chinese companies, Xi said China will "stand firm to protect" the intellectual property rights of American companies, according to Wall Street Journal coverage of the event. Note that in late 2014, China began establishing specialized courts to deliberate on intellectual property rights cases, and Xi commented Wednesday that "the newly established IPR courts are working smoothly. This means there will be much stronger IPR protection which will serve the interests of foreign businesses as well as Chinese companies." Chinese consumer electronics company Xiaomi is perhaps the most talked-about firm when it comes to the matter, with media outlets frequently criticizing its alleged "copying" of Apple design sensibilities. In mid-July, Xiaomi VP of global operations Hugo Barra told Bloomberg that the company is preparing to enter U.S. markets, though he cautioned that the launch could be "much more" than a year away as it seeks to build up its patent portfolio. CYBERSECURITY TENSIONS: Wednesday's meeting comes in the wake of numerous high-profile "hack attacks," with Sony (SNE), American Airlines (AAL), Anthem (ANTM), United Airlines (UAL), and Target (TGT) all reporting digital security breaches in recent years. Xi has consistently denied the involvement of state-backed hackers, but tensions have nevertheless arisen as cybersecurity firms such as FireEye (FEYE) and Palo Alto Networks (PANW) backtrace connections to the country. Cybersecurity intrusions originating from China have recently slowed ahead of Xi's visit, according to Reuters, with Kevin Mandia of security firm Mandiant telling the publication, "In my gut, I feel like the Chinese and the U.S. over the next couple of years are going to figure this out."
18:14 EDTWMTWal-Mart seeks 2%-6% cuts on China-made goods from suppliers, Reuters says
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18:06 EDTWMTWal-Mart seeks 2%-6% cuts on China-made goods from suppliers, Reuters says
September 22, 2015
10:45 EDTWMTReimbursement pressure on drug stores should moderate, says Cleveland Research
Cleveland Research analysts Rob Eich and Rob Stuyck said the firm's work indicates that stepdown reimbursement rates will be more manageable for drug store operators and that generic inflation will be less of a headwind for the group in FY16. However, Direct and Indirect Remuneration clauses will still be a source of margin pressure, the firm said, noting that several payers will be introducing a DIR next year. Cleveland Research has Neutral ratings on CVS (CVS), Walgreens (WBA), Rite Aid (RAD) and Wal-Mart (WMT).
September 21, 2015
12:08 EDTTGTTarget to test robot workers at concept store, Fortune reports
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