Stock Market & Financial Investment News

News Breaks March 21, 2013 12:02 EDT M Macy's to invest over $35M to expand Arizona fulfillment center Macy’s announced that it will expand its online order fulfillment center in Goodyear, AZ, to accommodate continued sales growth as part of the company’s omnichannel strategy. The company is expected to invest more than $35M in capital in the project. The Goodyear facility, with 600,000 square feet of space, was built by Macy’s, Inc. and opened in spring 2008. The expansion will add 360,000 square feet of space. Construction is expected to begin this summer so the expanded facility, with a total of 960,000 square feet, can be operational in spring 2014. The Goodyear fulfillment center currently employs more than 500 full-time-equivalent associates. With the expansion, employment is expected to grow to more than 625 full-time equivalents. News For M From The Last 14 Days Check below for free stories on M the last two weeks. Sign up for a free trial to see the rest of the stories you've been missing. May 23, 2013 14:45 EDT M Retailers file new suit against card companies over swipe fees, Bloomberg says Subscribe for More Information 11:59 EDT M Retailers file suit against Visa, MasterCard over credit cards, Bloomberg says Subscribe for More Information May 15, 2013 16:24 EDT M On The Fly: Closing Wrap Subscribe for More Information 15:34 EDT M Macy's price target raised to $54 from $46 at Credit Suisse Subscribe for More Information 12:28 EDT M On The Fly: Midday Wrap Subscribe for More Information 11:11 EDT M Macy's sees Q2 sales down less than previously thought Although Macy's sees Q2 sales down sequentially, the company now sees less of a difference than previously thought. On the Q1 earnings call the CFO said, "I would add though that while we still expect Q2 sales to fall below that in Q1, we now expect the spread between the first and second quarters to be by less than the 200-300 basis points we had mentioned in February. We believe we will get a benefit in the second quarter as the weather finally begins to get warmer." 09:23 EDT M Macy's hits a new life high after results, levels to watch Subscribe for More Information 09:19 EDT M On The Fly: Pre-market Movers Subscribe for More Information 08:05 EDT M Macy's affirms view of FY13 EPS $3.90-$3.95, consensus $3.92 Subscribe for More Information 08:04 EDT M Macy's raises dividend to 25c from 20c, ups buyback authorization by $1.5B Macy’s board of directors has authorized an increase in the quarterly dividend on Macy's common stock to 25c per share from the current 20c per share. The new dividend will be payable July 1 to shareholders of record at the close of business on June 14. The board also has increased the company’s share repurchase authorization by $1.5B. This brings the remaining authorization outstanding, as of the end of the first quarter on May 4, after giving effect to this increase, to approximately $2.6B. 08:01 EDT M Macy's reports Q1 EPS 55c, consensus 53c Reports Q1 revenue $6.39B, consensus $6.39B. Reports Q1 comparable sales up 3.8%. May 14, 2013 15:30 EDT M Notable companies reporting before tomorrow's open Subscribe for More Information 15:24 EDT M Macy May 47 straddle priced for 3.7% move into Q1 Subscribe for More Information May 13, 2013 14:17 EDT M Macy's May volatility elevated at 44 up into Q1 and outlook Macy's May call option implied volatility is at 44, June and August is at 23; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on May 15. 09:39 EDT M Macy's shares slip, levels to watch Subscribe for More Information 09:36 EDT M Macy's downgraded at Northcoast As previously reported, Northcoast downgraded Macy's to Neutral from Buy. The firm cites valuation for the downgrade. 09:33 EDT M Macy's downgraded to Neutral from Buy at Northcoast Subscribe for More Information Sign up for a free trial to see the rest of the stories you've been missing.