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News For WMT;TGT;SKS;MA;GPS From The Last 14 Days
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November 17, 2015
12:46 EDTWMTOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after better than expected earnings from Wal-Mart (WMT) and Home Depot (HD) helped the Dow build on yesterday's gains. The market also received a boost from an in-line consumer prices report, which may give the Fed the ammunition it needs to begin to raising interest rates from their record-low levels. ECONOMIC EVENTS: In the U.S., the consumer price index rose 0.2% in October, as expected. When food and energy prices are stripped out, the "core" CPI also rose 0.2%, also matching the consensus forecast. Industrial production slid 0.2% in October, versus expectations for it to have risen 0.1%. Capacity utilization came in as expected at 77.5%. NAHB's home builder sentiment index fell 3 points to 62 in November, versus expectations for a reading of 64. COMPANY NEWS: Shares of Wal-Mart advanced nearly 5% after the world's largest retailer reported better than expected quarterly earnings and gave a fiscal year profit outlook that was higher than expected at the midpoint of the company's range. As part of its report, Wal-Mart noted that comp sales at Walmart U.S. rose 1.5% in the quarter compared to last year, marking the fifth consecutive quarter of positive comparable sales growth. Another retail giant and fellow Dow member, Home Depot, gained more than 3.5%. Missing out on the retail rally, however, was Dick's Sporting Good (DKS), which tumbled over 9.5% after giving guidance for the fourth quarter and fiscal 2015 that both missed consensus estimates. MAJOR MOVERS: Among the notable gainers was Nuance (NUAN), which rallied 17% after analysts raised their price targets on the company's stock following upbeat fourth quarter earnings. Also higher was TJX (TJX), which gained 4% after reporting quarterly earnings and guiding for the fourth quarter and fiscal 2016. Among the notable losers was SunEdison (SUNE), which fell 21% after Deutsche Bank lowered its price target on the company's shares to $16 from $28. Also lower was Urban Outfitters (URBN), which fell 8% after no fewer than three analyst downgraded the company's shares following its Q3 earnings report. INDEXES: Near midday, the Dow was up 39.99, or 0.23%, to 17,523.00, the Nasdaq was up 17.91, or 0.36%, to 5,002.53, and the S&P 500 was up 3.54, or 0.17%, to 2,056.73.
10:42 EDTGPSGap volatility elevated into Q3 and outlook
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09:15 EDTWMTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Nuance (NUAN), up 9.1%... Cheetah Mobile (CMCM), up 7.7%... Eros International (EROS), up 12.8%... Home Depot (HD), up 3.1%...Wal-Mart (WMT), up 2.2%. ALSO HIGHER: Ocera Therapeutics (OCRX), up 14.8% after announcing Phase 1 study results for the company's oral formulation of OCR-002... Fitbit (FIT), up 2.4% after being upgraded to Buy from Neutral at BofA/Merrill. DOWN AFTER EARNINGS: Dicks Sporting Goods (DKS), down 15.4%... Urban Outfitters (URBN), down 12.8%. ALSO LOWER: Osiris Therapeutics (OSIR), up 25.5% after being downgraded to Sell from Hold at Brean Capital... Angie's List (ANGI), down 8.7% after board unanimously determines not to pursue IAC (IACI) proposal... Clovis Oncology (CLVS), down 4.1% after receiving downgrades from Goldman and WallachBeth... Chesapeake Energy (CHK), down 2.5% after being downgraded to Neutral from Buy at Sterne Agee CRT... Cooper Companies (COO), down 2% after being downgraded to Market Perform from Outperform at Wells Fargo.
09:02 EDTTGTAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
08:08 EDTWMTWal-Mart completes commitment to reduce 20M metric tons of GHC emissions
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07:36 EDTWMTSam's Club sees Q4 comp sales ex-fuel flat to up 1%
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07:34 EDTWMTWal-Mart U.S. sees Q4 comp sales increase of around 1%
On Wal-Mart's Q3 earnings call, Wal-Mart U.S. President and CEO Greg Foran said "We know the holidays will be competitive. Additionally, we expect food inflation to remain low relative to last year, and we'll lap last year's significant drop in fuel prices, which will make the comparison for the fourth quarter more difficult. But we're confident in our strategy and in the actions we're taking, and believe they'll help offset some of these pressures." For Q4, Wal-Mart expects a comp sales increase of around 1%, which Foran said would represent a 50 basis point improvement in its 2-year comp stack from third quarter.
07:17 EDTWMTWal-Mart rises 2.8% to $59.50 after Q3 earnings top expectations
07:10 EDTWMTWal-Mart reports total U.S. SSS up 1.4% without fuel
Reports total U.S. SSS up 0.7% with fuel.
07:10 EDTWMTWal-Mart reports Q3 Sam's Club SSS up 0.4% without fuel
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07:08 EDTWMTWal-Mart sees FY16 Walmart U.S. SSS up about 1%
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07:07 EDTWMTWal-Mart sees 'relatively flat' total sales growth for the year
Sees FY15 total net sales growth ex-currency about 3%.
07:07 EDTWMTWal-Mart narrows FY16 EPS view to $4.50-$4.65 from $4.40-$4.70
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07:06 EDTWMTWal-Mart reports Q3 Walmart U.S. SSS up 1.5%
Comp sales at Walmart U.S. were positive for the fifth consecutive quarter, up 1.5%. Traffic increased 1.7%. Customer experience scores continued to strengthen. Neighborhood Market comps increased approximately 8%, with strong growth from newer stores. Walmart International net sales were $29.8 billion. On a constant currency basis, sales reached $34.7 billion, led by Mexico and Canada. Operating income decreased 6.4%. On a constant currency basis, operating income increased 8.5%. E-commerce sales and GMV globally increased approximately 10% on a constant currency basis. Growth was pressured by challenges in key international markets. Investments in people and technology continued. Consolidated operating income declined 8.8%. On a constant currency basis1, consolidated operating income declined 5.4%.
07:05 EDTWMTWal-Mart narrows FY16 EPS view to $4.50-$4.65 from $4.40-$4.70
CFO Charles Holley says, "We delivered solid earnings per share that was well within our guidance. Looking ahead, we are narrowing our full-year earnings per share guidance to range between $4.50 and $4.65, including a range of $1.40 to $1.55 for the fourth quarter. This includes ongoing headwinds from currency, which we now expect will impact earnings per share by $0.16, compared to $0.15 from last quarter's guidance. We continue to expect relatively flat total sales growth for the year. Without the currency impact, our full-year total net sales growth would be around 3 percent."
07:04 EDTWMTWal-Mart sees Q4 EPS $1.40-$1.55, consensus $1.43
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07:03 EDTWMTWal-Mart reports Q3 continuing ops EPS $1.03, consensus 98c
Reports Q3 revenue $117.41B, consensus $117.79B. Q3 diluted EPS from continuing operations was $1.03, benefited by approximately 4c from an adjustment for certain leases. Currency negatively impacted EPS by 4c. On a constant currency basis1, total revenue was $122.4 billion, an increase of 2.8%.
06:39 EDTWMTWal-Mart Asia CEO: China to drive over half of sector growth, CNBC says
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06:27 EDTWMTWal-Mart may see worst y/y decline since 1973, WSJ says
Wal-Mart's stock has slumped roughly 40% since reaching over $90 in January, setting the company up for its worst year over year decline since 1973, Steven Russolillo of the Wall Street Journal's Ahead of the Tape reports. There is not much reason to believe that the retailer's shares will rebound ahead of Tuesday's quarterly report, Russolillo says. Deflationary concerns and the growing e-commerce market represent two structural issues hindering Wal-Mart's ability to stage swift turnaround, the report says. Reference Link
05:36 EDTGPSGap implied volatility of 42 at upper end of index mean range
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