New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 4, 2014
16:39 EDTTTWO, YUM, BRO, KORS, DNB, MSFT, JCPOn The Fly: Closing Wrap
Stocks on Wall Street were higher, bouncing back a bit following yesterday's sharp sell-off. The averages opened higher, led by gains in the tech-heavy Nasdaq, which added nearly 1% for the session. Despite gains, the averages recouped less than half of yesterday's decline. ECONOMIC EVENTS: In the U.S., factory orders dropped 1.5% in December, versus expectations for a 1.8% decline. COMPANY NEWS: Microsoft (MSFT) shares fell 13c, or 0.36%, to $36.35 after the company promoted the head of its Cloud and Enterprise group, Satya Nadella, to Chief Executive Officer, succeeding Steve Ballmer. Nadella's promotion, which had been roundly telegraphed in recent media reports, make him the tech giant's third CEO. Bill Gates, one of the company's founders and formerly chairman of its board, will assume a new role as Technology Advisor and devote more time to the company, with lead independent director John Thompson taking over as chairman... Embattled retailer J.C. Penney (JCP) fell 60c, or 10.56%, to $5.08 despite reporting comparable store sales that grew 3.1% during the Holiday period. Deutsche Bank said it believes investors were expecting a positive low-single digit gain in same-store sales and it does not view today's press release as material to the J.C. Penney story, while Sterne Agee cut its price target on the retailer's shares to $3 from $9. MAJOR MOVERS: Among the notable gainers was luxury goods maker Michael Kors (KORS), which advanced $13.24, or 17.27%, to $89.91 after the company's third quarter results soundly beat analysts' expectations and several analyst firms raised their price targets on the stock. Also higher following their quarterly report was Yum! Brands (YUM), up $5.90, or 8.92%, to $72.06 after the Taco Bell and KFC owner reported adjusted profit that beat estimates and affirmed its fiscal 2014 earnings outlook. Among the noteworthy losers following disappointing earnings reports were Dun & Bradstreet (DNB), down $10.88, or 10.22%, to $95.58, and Brown & Brown (BRO), down $2.40, or 7.82%, to $28.28. Also lower was Take-Two (TTWO), which fell $1.84, or 9.74%, to $17.06. The video game maker reported better-than-expected results though issued guidance for the current quarter that missed expectations and analysts were generally downbeat about the company's outlook. INDEXES: The Dow was up 72.44, or 0.47%, to 15,445.24, the Nasdaq was up 34.56, or 0.86%, to 4,031.52, and the S&P 500 was up 13.31, or 0.76%, to 1,755.20.
News For MSFT;JCP;KORS;YUM;DNB;BRO;TTWO From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
November 20, 2015
06:20 EDTMSFTSony mulling bringing PS2 games to PS4, WSJ says
Subscribe for More Information
November 19, 2015
08:18 EDTMSFTMicrosoft participates in a panel discussion
Subscribe for More Information
November 18, 2015
16:01 EDTMSFTOptions Update; November 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.39 to 19.44. Option volume leaders: AAPL NBG TGT NFLX F FB QCOM SUNE GPRO MSFT
14:49 EDTMSFTEarnings Watch: Salesforce shares up 14% since last earnings report
Salesforce (CRM) is scheduled to report third quarter results after the market close on Wednesday, November 18, with a conference call scheduled for 5:00 pm ET. Salesforce is a provider of enterprise cloud computing solutions that include apps and platform services. EXPECTATIONS: Analysts are looking for earnings per share of 19c on revenue of $1.7B, according to First Call. The consensus range for EPS is 17c-20c on revenue of $1.68B-$1.72B. On its last earnings conference call, Salesforce gave Q3 EPS guidance of 18c-19c and revenue guidance of $1.69B-$1.7B. It also gave FY16 EPS guidance of 70c-72c and FY16 revenue of $6.6B-$6.63B. The company expects FY16 operating cash flow growth of approximately 34%-35%. Salesforce said it is now on pace to reach $7B run rate later this year. LAST QUARTER: On August 20, Salesforce reported second quarter EPS of 19c, beating the consensus analyst forecast of 18c. The company's revenue came in at $1.63B, topping the consensus estimate of $1.60B. It reported deferred revenue on balance of $3.03B as of July 31 and Q2 subscription and support revenue of $1.52B. Salesforce added that Q2 was the "best quarter ever" for the company due to momentum in Europe and growth in the adoption of its core platform. NEWS: Salesforce and Western Union (WU) announced an agreement for Western Union to use Sales Cloud, Community Cloud, Analytics Cloud and App Cloud to automate previously paper-based processes. Salesforce also announced plans to extend its strategic partnership with Microsoft (MSFT). The company said it would double its workforce in the Seattle area. STREET RESEARCH: Brean Capital said Salesforce should be a core holding due its new cloud targets, operating margin expansion and revenue growth in the 20%-30% range year over year. Jeffries said it was impressed with the company's DreamForce conference, but kept an Underperform rating on the stock because the net present value of new business may be negative for Salesforce at this time. In late September, Oppenheimer said that the company's checks were positive. It added that Salesforce's share of the market could be increasing and adds that Salesforce's platform strategy is becoming more popular with customers. PRICE ACTION: Salesforce shares are up over 14% since the company's Q2 report. In afternoon trading ahead of Thursday's report, Salesforce shares are up fractionally.
05:40 EDTYUMStocks with implied volatility below IV index mean; YUM RAD
Subscribe for More Information
November 17, 2015
18:58 EDTMSFTMicrosoft CEO says building new cyber defense center, NBC reports
Speaking at the Microsoft Government Cloud Forum on Tuesday, CEO Satya Nadella revealed plans to open a Cyber Defense Operations Center, gathering security experts from across the company's suite of products in order to respond to security threats in real-time, reports NBC. Reference Link
10:13 EDTJCPJ.C. Penney management to meet with Buckingham
Subscribe for More Information
09:02 EDTMSFTAnalyst 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.
07:56 EDTMSFTUBS to hold a conference
Global Technology Conference is being held in San Francisco on November 16-18 with webcasted company presentations to begin on November 17 at 10:45 am.; not all company presentations may be webcasted. Webcast Link
07:52 EDTKORSMorgan Stanley to hold a conference
Subscribe for More Information
06:16 EDTMSFTMicrosoft turns around flawed security technology, NY Times says
Subscribe for More Information
05:33 EDTYUMStocks with implied volatility below IV index mean; YUM QCOM
Subscribe for More Information
November 16, 2015
17:02 EDTMSFTPoint72 added to lululemon position, subtracted from Netflix position
Subscribe for More Information
16:43 EDTKORSGreenlight Capital added Apple, sold some SunEdison
Greenlight Capital gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: CNX Coal Resources (CNXC), Garmin (GRMN), Terraform Global (GLBL), and Liberty Global (LILA). INCREASED STAKES: Apple (AAPL), Michael Kors (KORS), Dillard's (DDS), UIL Holdings (UIL), and Twenty-First Century Fox (FOXA). DECREASED STAKES: SunEdison (SUNE), Micron (MU), Voya (VOYA), Applied Materials (AMAT), and SunEdison Semiconductor (SEMI). LIQUIDATED STAKES: Citizens Financial (CFG), Lam Research (LRCX), Spirit AeroSystems (SPR), Hertz (HTZ), and Macy's (M).
16:29 EDTJCPJ.C. Penney announces plans to retire $500M asset-based term loan
J. C. Penney Company announced that it has received $500M of incremental bank commitments to increase the size of the Revolving Line of Credit under its existing Senior Secured Asset-Based Credit Facility to $2.35B from $1.85B. In connection with upsizing the revolving credit facility, the Company also intends to prepay and retire the outstanding principal amount of its $500M Term Loan previously issued under the ABL, which is scheduled to mature in June 2019. The Company expects to close these transactions in December.The Company expects that retirement of the ABL Term Loan will reduce interest expense by approximately $20M annually, beginning in 2016. The $2.35B ABL revolving line of credit, which will also mature in June 2019, will remain available for seasonal working capital needs and general corporate purposes. Marvin Ellison, chief executive officer, said, "We proactively pursued this transaction to reduce our long-term debt and ongoing interest expense and to further enhance our financial flexibility while maintaining our strong liquidity position as we continue to make progress on our goal of $1.2B in EBITDA by 2017."
16:00 EDTMSFTOptions Update; November 16, 2015
Subscribe for More Information
11:35 EDTJCPDillard's sinks to 52-week low after joining chorus of 'disappointed' retailers
Shares of Dillard's (DDS), a retailer of fashion apparel, cosmetics and home furnishing, are falling to their worst level in a year after the company became the latest in its industry to report lower than expected third quarter results. WHAT'S NEW: This morning, Dillard's reported Q3 earnings per share of $1.19 and revenue of $1.435B, narrowly missing analysts' consensus estimates of $1.20 and $1.49B, respectively. Same-store sales for the quarter fell 4%. Total merchandise sales decreased 3% for the 13-week period ended October 31. Weaker performing categories were men's apparel and accessories and ladies' accessories and lingerie with notable weakness in home and furniture the company explained. Dillard's Chief Executive Officer, William T. Dillard, II, stated, "We are disappointed with our third quarter sales performance and in the resulting decline in profit. Share buyback remained a high priority, and we repurchased $175 million of stock under our share repurchase program." WHAT'S NOTABLE: Gross margin from retail operations improved 11 basis points of sales for the 13 weeks ended October 31 compared to the prior year third quarter. Consolidated gross margin for the 13 weeks ended October 31 declined 30 basis points of sales compared to the prior year third quarter. The disparity between retail and consolidated gross margin performance is attributable to increased revenue at CDI, which is a substantially lower margin business. Inventory increased 6% at October 31 compared to November 1, 2014. For FY15, the company expects capital expenditures of $150M. PRICE ACTION: In late morning trading, Dillard's fell $5.81, or 7.5%, to $71.79 on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $68.05. Including today's pull back, the shares have lost about 36% over the past 12 months. OTHERS TO WATCH: Other apparel, cosmetics and home furnishing retailers include Macy's (M), Kohl's (KSS), JC Penny (JCP), Sears (SHLD) and Nordstrom (JWN).
07:56 EDTYUMTaco Bell committed to serving cage-free eggs in U.S. restaurants by end of 2016
Subscribe for More Information
06:11 EDTYUMTaco Bell to stop using eggs laid by caged hens by 2017, Reuters reports
Subscribe for More Information
November 15, 2015
19:29 EDTMSFTMicrosoft delays, possibly kills tool to translate Android apps, Re/code says
Subscribe for More Information
1 | 2 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use