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Stock Market & Financial Investment News

News Breaks
March 13, 2013
19:00 EDTMW, SCMP, CBK, BBRY, ASI, CRA, DCTH, ETFCOn The Fly: After Hours Movers
UP AFTER EARNINGS: Men's Wearhouse (MW), up 12.1% after earnings and saying it has hired Jefferies to evaluate strategic alternatives for its K&G operations... Sucampo (SCMP), up 6%... Christopher & Banks (CBK), up 3.5%... ALSO HIGHER: BlackBerry (BBRY), up 2.6% after the company made a late afternoon announcement that it had received a 1M unit order for BlackBerry 10 phones... American Safety Insurance (ASI), up 4.3% after announcing it is exploring strategic alternatives, including a possible sale... DOWN AFTER EARNINGS: Vera Bradley (VRA), down 5.8%... Delcath Systems (DCTH), down 7.2% after earnings and filing $50M at-the-market offering... ALSO LOWER: E-Trade (ETFC), down 4.8% after announcing plans to 27.39M shares of common stock for a holder.
News For MW;SCMP;CBK;BBRY;ASI;CRA;DCTH;ETFC From The Last 14 Days
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September 25, 2014
15:29 EDTBBRYNotable companies reporting before tomorrow's open
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14:29 EDTBBRYEarnings Preview: BlackBerry downgraded at BGC ahead of tomorrow's report
BlackBerry (BBRY) is expected to report second quarter earnings before the open on Friday, September 26, with a conference call scheduled for 8:00 am ET. BlackBerry manufactures and markets mobile devices, such as smartphones, and creates software and services for those devices. EXPECTATIONS: Analysts are expecting losses per share of (16c) on revenue of $949.64M. The consensus range is (36c)-(4c) for EPS on revenue of $855.9M-$1.16B, according to First Call. LAST QUARTER: On June 19, BlackBerry reported a loss per share, excluding certain items, of (11c), versus analysts' consensus estimate of a (26c) per share loss. The company's revenue of $966M was a bit higher than the consensus expectation near $963M. The smartphone maker said that it had recognized revenue on about 1.6M of its smartphones, up from about 1.3M during the previous quarter. Moreover, it said that it was close to reaching the breakeven point on hardware sales and added that it expects its subscriber numbers to be steady going forward. BlackBerry should be profitable sometime in fiscal 2016, company CEO John Chen stated. NEWS: On July 21, BlackBerry announced that it has named Marty Beard as its Chief Operating Officer. Prior to the appointment, Beard had been chairman and CEO of LiveOps. After Apple (AAPL) and IBM (IBM) announced an enterprise partnership, BlackBerry CEO John Chen told Financial Times on July 24 that his company was in early talks with companies about working together in parts of the enterprise market, though he declined to comment on who the discussions have been with. Last month, BlackBerry announced that it has named Sandeep Chennakeshu to lead a new business unit to be called BlackBerry Technology Solutions, or BTS. The BTS business unit comprises BlackBerry's technology assets, including QNX, Project Ion, Certicom and Paratek as well as BlackBerry's patent portfolio. Two weeks ago, BlackBerry announced that it has acquired Movirtu, a provider of virtual identity solutions for mobile operators that allows multiple numbers to be active on a single device. Terms of the transaction were not disclosed, though the next day Wells Fargo wrote that it thinks the deal brings a degree of differentiation to BlackBerry's mobile device management solutions and will make BYOD better for both companies and employees. Yesterday, BlackBerry launched the Passport, a high-end smartphone featuring a large square touch screen and new QWERTY touch-enabled keyboard. Inspired by actual passports, the device was "purpose-built for productivity-driven business professionals," the company stated. STREET RESEARCH: On the day of BlackBerry's last quarterly report, BGC Financial said that it thought that the negative thesis on BlackBerry was falling apart, at least in the short-term. However, this afternoon BGC Financial analyst Colin Gillis downgraded shares of BlackBerry to Hold from Buy, saying the company's quarterly results tomorrow "may prove underwhelming." Gillis expects BlackBerry's revenue declines to continue in the current quarter and noted that his estimate is below consensus. He has an $11 price target for the shares. Also today, MKM Partners stated in a note to investors that it believes BlackBerry's new Passport phone is for "hardcore entrenched BB users" and unlikely to make much of a difference. The firm kept a Neutral rating on the stock with a $10 price target. PRICE ACTION: On the day of its last report, shares of BlackBerry climbed 9.65% to close at $9.09. Since the day after that initial pop, the stock has gained about another 10%. In afternoon trading, BlackBerry was down 51c, or almost 5%, to $10.00.
12:55 EDTBBRYBlackBerry downgraded to Hold from Buy at BGC Financial
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12:53 EDTBBRYBlackBerry September weekly 10.5 straddle priced for 9.6% move into Q2
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12:53 EDTBBRYBlackBerry downgraded to Hold from Buy at BGC Financial
09:14 EDTBBRYBlackBerry volatility increases into Q2 and outlook
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07:31 EDTBBRYBlackBerry Passport unlikely to make a difference, says MKM Partners
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06:08 EDTBBRYStocks with implied volatility above IV index mean; IBM BBRY
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September 24, 2014
12:42 EDTBBRYBlackBerry volatility increases into Q2 and outlook
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12:36 EDTBBRYBlackBerry's Passport unlikely to win considerable share, says Credit Suisse
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11:58 EDTBBRYBlackBerry launches smartphone geared towards mobile professionals
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11:42 EDTBBRYMobileiron advances after analyst sees easing competition
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September 23, 2014
13:11 EDTBBRYBlackBerry volatility increases into Q2 and outlook
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11:38 EDTCBKAscena Retail plummets to 52-week low after results, guidance trail consensus
Shares of Ascena Retail (ASNA), a national specialty retailer of apparel for women and teen girls, are falling after the company's fourth quarter results and fiscal 2015 profit outlook trailed analysts' consensus estimates. WHAT'S NEW: Last night, Ascena Retail reported Q4 adjusted EPS of 13c and revenue of $1.18B, far below analysts' consensus estimates of 18c and $1.21B, respectively. Same store sales for the period declined 2%. Looking ahead, Ascena Retail forecast FY15 adjusted EPS of 90c-$1.00 excluding any acquisition-related, integration and restructuring costs that may be incurred during the fiscal year, significantly trailing the consensus of $1.25. The company sees EPS down compared to last year in the first half, but expects growth in the second half. The company sees flat to modest positive total comparable store growth for the year, with Fall flat to down low-single digits, and Spring up low-single digits. EBITA growth for the year is seen in the mid-to-high single digits, with the EBITDA rate flat to up 20 basis points, with 80-100 basis points of improvement in gross margin rate mostly offset by operating expense rate de-leverage. Ascena also sees a net new store increase of 30-40 units, capital expenditures of $350M-$375M and an effective tax rate of 37% vs. 32% in fiscal year 2014. The company sees FY15 double digit growth in depreciation, with projected expenses between $210M-$215M. The company's guidance is based on an ongoing challenging retail environment. WHAT'S NOTABLE: Ascena President and Chief Executive Officer David Jaffe commented that Q4 EPS was "in line" with expectations, despite mixed results across its portfolio and soft traffic patterns. Jaffe said the company is maintaining a conservative outlook for the Fall season, as the company has "yet to see sustained evidence of market improvement." Ascena also said it plans to increasingly focus on adjusted EBITDA as an indicator of underlying financial performance because it normalizes for major changes in non-cash depreciation and tax rates. ANALYST REACTION: This morning, research firm SunTrust lowered its price target on Ascena Retail to $17 from $21 after the company reported results that were weak across the board. The firm believes that the company is making appropriate changes and seems well-positioned for the future, while its brand integrity is intact across divisions. SunTrust reiterated a Buy rating on shares. Another firm, Oppenheimer, said Ascena's retail strategies should help stem margin pressure. The firm added that the profitability of the company's new brands is rising significantly, while its guidance looks conservative. Oppenheimer cut its price target on the shares to $19 from $22, but kept an Outperform rating on the stock. PRICE ACTION: In late morning trading, Ascena Retail fell $2.69, or 16.24%, to $13.85 on nearly four times its average daily trading volume. Earlier in the session, the stock notched a fresh 52-week low of $13.72. Including today's pull-back, the shares have lost approximately 22% over the past 12 months. OTHERS TO WATCH: Other specialty retailers catering to women include Christopher & Banks (CBK), Chico's FAS (CHS), and Ann Inc. (ANN).
07:28 EDTBBRYBlackBerry prices 'Passport' below competing high-end smartphones, WSJ says
BlackBerry, whose Passport smartphone marks its first global launch since its BB10 operating system, is pricing the new phone at $599 in the U.S. without subsidies, which is below Apple's (AAPL) iPhone 6, which starts at $649 without contract, and Samsung's (SSNLF) Galaxy S5, which was similarly priced at about $650 at launch, reported The Wall Street Journal. Reference Link
September 22, 2014
06:30 EDTBBRYBlackBerry CEO's plan to abandon consumer market showing results, WSJ says
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September 19, 2014
09:26 EDTBBRYBlackBerry global units stabilizing, says ITG Research
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08:34 EDTBBRYBlackBerry volatility elevated into Q2 and outlook
Blackberry September weekly call option implied volatility is at 94, October weekly is at 75, October is at 59, November is at 52, December is at 54; compared to its 26-week average of 56 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on September 26.
September 18, 2014
05:56 EDTBBRYStocks with implied volatility top IV index mean; AMD BBRY
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September 17, 2014
13:05 EDTDCTHLinkedto says $3 per share bid for Delcath Systems dropped
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