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Stock Market & Financial Investment News

News Breaks
December 26, 2012
10:30 EDTMMacy's heads lower in weaker retail environment, levels to watch
The price action since September when viewed on a daily chart has a distinct rounding top appearance. The move down in price today has broken the low of the start of that rounding formation which was at $36.94. This is bearish price action, suggesting more downside to come of greater than $5. At the current price of $36.58, next support is at $36.14, and then at $35.32. Resistance is at $36.94.
News For M From The Last 14 Days
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August 21, 2014
10:35 EDTMSears falls after reporting Q2 loss that more than doubled analyst projections
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August 20, 2014
08:31 EDTMMacy's reaches agreement with NY AG on racial profiling allegations
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August 17, 2014
18:10 EDTMInvestors should buy Nordstrom over Macy's, Barron's says
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August 15, 2014
17:02 EDTMStocks end week slightly higher despite flare-up in Russian tensions
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10:30 EDTMJ.C. Penney falls despite posting a narrower than expected Q2 loss
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August 14, 2014
10:36 EDTMEarnings Preview: Analyst sees J.C. Penney reporting positive Q2 comps
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August 13, 2014
16:19 EDTMOn The Fly: Closing Wrap
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12:07 EDTMOn The Fly: Midday Wrap
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11:46 EDTMMacy's shares trading lower as Q2 results fall short of expectations
Shares of Macy's (M), a retailer that sells a range of merchandise, including apparel, accessories and home furnishings, are lower after the company's second earnings missed analysts' expectations. WHAT'S NEW: The company reported Q2 earnings per share 80c on revenue of $6.23B, falling short of analysts' estimates of 86c and $6.3B, respectively. Comparable sales were up 3.4% for the quarter and comparable sales together with comparable sales of departments licensed to third parties were up 4%. Chief Executive Officer Terry Lundgren noted that even with an improved sales trend in Q2, the company could not make up its sales shortfall from the first quarter. Looking ahead, Macy's reaffirmed its fiscal year 2014 EPS view of $4.40-$4.50 against estimates of $4.47, but cut its FY14 SSS view to 1.5%-2% from 2.5%-3%. Second half same store sales are expected to be up 2%-3%, and the company said expectations for the second half of the year are "on track." Lundgren said the company is approaching 2H with "confident optimism." WHAT'S NOTABLE: On the company's earnings conference call, Macy's Chief Financial Officer Karen Hoguet said the retail expects third quarter SSS to be lower than fourth quarter, adding that it "feels good" about the back half of the year. Macy's said that it sees fall season EPS, or the combined EPS for Q3 and Q4, of $3.04-$3.14 and expects total sales for the second half of the year to be about 30 basis points lower than comp growth. Macy's sees gross margins flat to down slightly for the year and fall season. ANALYST OPINION: This morning, UBS analysts said the Q2 miss could signal Macy's have been unable to generate incremental margin support from brands into increasingly promotional sales trends. Morgan Stanley analysts, meanwhile, believes the Q2 miss and the pullback in shares will be temporary and it presents a buying opportunity. The firm expects more margin misses over the next few weeks due to the promotional environment and remains convinced that Macy's key strategies are still in the early stages of delivering results. PRICE ACTION: In late-morning trading, shares of Macy's dropped $2.89, or 4.84%, to $56.88. OTHERS TO WATCH: J.C. Penney (JCP), which reports earnings tomorrow, is down 2.15%. Nordstrom (JWN), which also reports earnings tomorrow, is relatively flat.
11:14 EDTMMacy's CFO says early back-to-school sales very strong, particularly active
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10:47 EDTMMacy's sees fall season EPS $3.04-$3.14
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10:44 EDTMMacy's sees Q3 SSS lower than Q4
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09:15 EDTMOn The Fly: Pre-market Movers
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08:09 EDTMMacy's cuts FY SSS view to up 1.5%-2% vs. previous 2.5%-3% view
08:02 EDTMMacy's still sees FY14 EPS $4.40-$4.50, consensus $4.47
“We are approaching the second half of 2014 with confident optimism in our business strategies, merchandise assortments and marketing plans, tempered with the reality that many customers still are not feeling comfortable about spending more in an uncertain economic environment,” CEO Terry Lundgren said. “Thus, we remain focused on outperforming our competitors through innovation in omnichannel, which has added new dimensions in how consumers can shop us and how our company can satisfy customer demand. This includes a robust Buy Online Pickup in Store process, which has been rolled out to all full-line Macy’s stores nationwide so that it is fully available this fall and into the holiday shopping season. Moreover, our Millennial strategies have sharpened our merchandising and marketing to customers in the age range of 13 to 30. This has created new positive energy as our customers begin back-to-school shopping.”
08:02 EDTMMacy's says expectations for 2H14 'on track'
Expectations for the second half of 2014 remain on track, with guidance for comparable store growth of 2%-3%. However, even with an improved sales trend in the second quarter, the company was unable to make up its sales shortfall from the first quarter. This calculates to expectations for a full-year 2014 comparable sales increase of 1.5%-2%. Full-year 2014 comparable sales together with comparable sales of departments licensed to third parties now are expected to increase by 2%-2.5%. Previous guidance was for full-year comparable sales to increase by 2.5%-3%. The company continues to expect full-year 2014 earnings per diluted share in the range of $4.40 to $4.50, consistent with guidance previously provided.
08:01 EDTMMacy's reports Q2 EPS 80c, consensus 86c
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05:58 EDTMStocks with implied volatility movement; SFUN M
Stocks with implied volatility movement; SouFun (SFUN) 65, Macy's (M) 26 according to iVolatility.

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