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News Breaks
August 12, 2014
06:53 EDTMMacy's August volatility elevated into Q2 and outlook
Macy's August call option implied volatility is at 50, September is at 24, January is at 23; compare to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on August on 13.
News For M From The Last 14 Days
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November 27, 2015
10:51 EDTMOptions with increasing volume; OLED BURL CLVS M ACAS WBA NTES
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08:26 EDTMAdobe says U.S. e-commerce sales surged on Thanksgiving, Bloomberg reports
Adobe Systems estimated that online shoppers in the U.S. spent $1.1B by 5 pm ET on Thanksgiving and projected that $1.7B would be spent in online shopping by day's end, a 22% jump from last year, reported Bloomberg. Major e-commerce players that may benefit from the surge in spending include (AMZN) and eBay (EBAY), while companies with omnichannel presences including e-commerce and brick-and-mortar locations include Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and Macy's (M). Reference Link
November 22, 2015
13:42 EDTMMacy's shares look too cheap to ignore, Barron's says
Shares of Macy's look inexpensive, and long-term investors could realize double-digit annual returns as the company "gets back on track" over the next 12-18 months, Barron's contends in a 'Trader Extra' column. Reference Link
November 20, 2015
19:01 EDTMMacy's management to meet with JPMorgan
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November 18, 2015
09:08 EDTMTJX benefitting from off-price retail market growth, WSJ says
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November 17, 2015
10:11 EDTMOptions with decreasing implied volatility
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November 16, 2015
16:43 EDTMGreenlight 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).
11:35 EDTMDillard'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).
10:25 EDTMOptions with decreasing implied volatility
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