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Stock Market & Financial Investment News

News Breaks
May 13, 2014
12:43 EDTMEarnings Preview: Analyst doesn't see Macy's revising FY14 guidance in Q1 report
Macy's (M) is scheduled to report first quarter earnings before the market open on Wednesday, May 14, with a conference call scheduled for 10:30 am ET. Macy's is a retailer that sell a range of merchandise, including apparel and accessories, cosmetics, home furnishings and other consumer goods. EXPECTATIONS: Analysts are looking for earnings per share of 59c on revenue of $6.46B, according to First Call. The consensus range for EPS is 52c-64c on revenue of $6.38B-$6.59B. LAST QUARTER: Macy's reported fourth quarter EPS of $2.31 excluding items, against estimates for $2.17, on revenue of $9.2B, against estimates for $9.27B. Same-store sales in the quarter were up 1.4% and up 2.3% for comparable sales combined with comparable sales from departments licensed to third parties. Macy's backed its fiscal year 2014 EPS guidance of $4.40-$4.50. The consensus for FY14 EPS is $4.48. Capital expenditures for the year are expected to be approximately $1.05B. NEWS: On its last earnings conference call, Macy's forecast a higher comp gain in the second quarter vs. the first quarter and said it expected a "flattish to down slightly" gross margin rate for the year. The company forecast total sales growth "approximately the same" as SSS growth this year. The retailer said trends began to recover after Valentine's Day. At the Telsey Advisory Group Spring Consumer Conference, Macy's revised its FY14 SSS growth outlook to 2%-3% from 2.5%-3%. The company commented that the environment was very promotional and that consumers were not "overwhelmingly excited" about spending. Macy's said it would continue to close stores that are no longer cash positive or "no longer worth investing in." In April, Macy's named Jeffrey Gennette as president. STREET RESEARCH: Buckingham believes April and May trends at the retailer strengthened, and expects the company will maintain its FY14 guidance. During the quarter, shares were upgraded to Outperform from Market Perform at Wells Fargo. PRICE ACTION: Over the last three months, Macy's shares are up over 8%. The stock was up fractionally to $57.42 in mid-morning trading ahead of tomorrow's report.
News For M From The Last 14 Days
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November 23, 2014
13:07 EDTMMacy's CEO sees lower gas prices to benefit retailer, Fox News says
In an interview with Fox News’ Maria Bartiromo today, the CEO of Macy's Terry Lundgren said that Macy's will benefit from lower gas prices. Lundgren said, “We expect to benefit from the lower gas prices...We have much higher expectations for the fourth quarter.” Reference Link
November 21, 2014
07:29 EDTMMacy's well positioned heading into Holiday, says Deutsche Bank
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November 20, 2014
07:36 EDTMMacy's management to meet with Deutsche Bank
Meeting to be held on New York on November 20 hosted by Deutsche Bank.
November 18, 2014
09:56 EDTMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Allergan (AGN) downgraded to Market Perform from Outperform at William Blair... Wells Fargo (WFC) downgraded to Market Perform from Outperform at BMO Capital... Allergan downgraded to Neutral from Buy at Guggenheim... Allergan downgraded to Neutral from Buy at SunTrust... Basic Energy (BAS) downgraded to Neutral from Buy at SunTrust... CBS (CBS) downgraded to Neutral from Overweight at Atlantic Equities... Key Energy (KEG) downgraded to Neutral from Buy at SunTrust... Macy's (M) downgraded to Neutral from Buy at BofA/Merrill... Statoil (STO) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Market Perform from Outperform at Telsey Advisory... Urban Outfitters downgraded to Market Perform from Outperform at William Blair... Urban Outfitters downgraded to Neutral from Overweight at Atlantic Equities... Baker Hughes (BHI) downgraded to Hold from Buy at Argus.... Precision Drilling (PDS) downgraded to Market Perform at Raymond James.
07:23 EDTMMacy's downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Macy's to Neutral from Buy. The firm downgraded shares citing valuation and slowing earnings growth. Price target is $65.
06:04 EDTMMacy's downgraded to Neutral from Buy at BofA/Merrill
November 14, 2014
16:26 EDTMNasdaq clear leader as major averages end week higher
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