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Stock Market & Financial Investment News

News Breaks
June 27, 2014
12:56 EDTLITB, FINL, DG, DD, ROCK, MTW, NKEOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday with DuPont's (DD) slide weighing down the blue-chip Dow more than Nike's (NKE) advance is helping it. Stocks began the session in negative territory but soon turned mixed, where they have remained, with the Nasdaq the leader and the Dow the laggard. The averages have stalled, but they still remain on track to be positive for the month of June, though the month does not end until after Monday's session. ECONOMIC EVENTS: In the U.S., the final University of Michigan consumer sentiment index for June rose to 82.5, which beat the consensus expectation for a reading of 81.9. COMPANY NEWS: Shares of athletic apparel and footwear giant Nike and sports shoe retailer Finish Line (FINL) climbed after both companies reported better than expected quarterly sales and profits. Near midday, Dow member Nike rose 1.6%, while Finish Line advanced 1.4%... Another member of the Dow Jones Industrial Average, DuPont, moved in the opposite direction, falling over 4.5% after the chemical company cut its earnings outlook for its second quarter and its current fiscal year. MAJOR MOVERS: Among the notable gainers was LightInTheBox (LITB), which jumped 20% after the company raised its Q2 revenue outlook. Also higher was Manitowoc (MTW), which gained 9% and was upgraded to Hold at Jefferies after activist Relational Investors took an 8.5% stake in the company and urged for a spin-off of its food business. Among the noteworthy losers was Gibraltar Industries (ROCK), which dropped nearly 10% after cutting its Q2 outlook, stating that end market demand in the quarter did not rebound as expected. Also lower were shares of discount retailer Dollar General (DG), which fell over 7% after Chief Executive Officer Rick Dreiling announced plans to retire. INDEXES: Near midday, the Dow was down 36.58, or 0.22%, to 16,809.55, the Nasdaq was up 7.41, or 0.17%, to 4,386.45, and the S&P 500 was down 1.60, or 0.08%, to 1,955.62.
News For NKE;DD;FINL;MTW;DG;LITB;ROCK From The Last 14 Days
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August 27, 2015
10:22 EDTDGDollar General says affordability initiative 'front and center'
Says goal to reduce truck to shelf time. Sees further opportunity to better execute future growth initiatives. Says returned $265M to shareholders through repurchase and dividends. Says it has completed first of three phases of labor investment. Says implementations of phases two and three to accelerate in 2H15. Says "strong" results driven by incremental store investments. Says moving forward with inventory management initiatives. Says will capitalize on consumer insights in 2H15. Says broadening reach across categories with more "impactful" licensed products. Says focused on expanding merchandise leading up to holiday season. Says remains "optimistic" about new store outlook. Says has reduced capital investment for remodels. Says development pipeline is nearly 80% complete for 2015 store openings. Says repurchased over $3B of common stock since 2011. Says first priority is investing in new stores. Says roughly $489M of current repurchase authorization remains. Says new store prototype to roll out in 2016 with faster, more convenient checkout. Says "well-positioned" to succeed in hair care market. Comments taken from Q2 earnings conference call. In morning trading, shares in Dollar General were down 3.42% to $74.09.
10:00 EDTDGDollar General falls after earnings
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09:26 EDTDGOn The Fly: Pre-market Movers
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07:20 EDTNKENike continuing to 'dominate' back to school, says Stifel
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07:05 EDTDGDollar General sees FY15 EPS $3.85-$3.95, consensus $3.95
For the 2015 fiscal year, the Company is reconfirming its financial guidance provided on June 2, 2015. Total sales are expected to increase 8 to 9 percent over the 2014 fiscal year, with same-store sales expected to increase 3 to 3.5 percent. Operating profit for 2015 is expected to increase 7 to 9 percent over the 2014 adjusted operating profit. Diluted EPS for the fiscal year is expected to be approximately $3.85 to $3.95. Considering sales performance to date and the current operating environment, management expectations are that same-store sales likely will be closer to the low-end of the range. Capital expenditures are expected to be in the range of $500 million to $550 million in 2015. Dollar General plans to open approximately 730 new stores in 2015, or 6 percent square footage growth, and relocate or remodel 875 stores. To date, the Company is on track with its pipeline development to accelerate new store openings to 7 percent square footage growth in 2016.
07:04 EDTDGDollar General confirms FY15 financial outlook
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07:04 EDTDGDollar General reports Q2 EPS 95c, consensus 94c
Reports Q2 revenue $5.1B, consensus $5.14B. Reports Q2 SSS up 2.8%.
August 26, 2015
15:00 EDTDGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar General (DG), consensus 94c... J. M. Smucker (SJM), consensus $1.23... Tiffany (TIF), consensus 91c... Signet Jewelers (SIG), consensus $1.15... Patterson (PDCO), consensus 54c... Michaels (MIK), consensus 16c... Burlington Stores (BURL), consensus 12c.
10:00 EDTNKEOn The Fly: Analyst Upgrade Summary
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07:45 EDTNKENike upgraded to Positive at Susquehanna
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06:40 EDTNKENike upgraded to Positive from Neutral at Susquehanna
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August 25, 2015
13:39 EDTDDDuPont names John Chrosniak as president, DuPont Sustainable Solutions
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07:38 EDTDGDollar Tree, Dollar General weakness a buying opportunity, says UBS
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August 24, 2015
15:29 EDTDGDollar General August weekly volatility elevated into Q2 and outlook
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09:45 EDTNKEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
09:23 EDTDDGevo, Butamax enter global patent cross-license, settlement agreements
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06:20 EDTNKENike upgraded to Outperform from Market Perform at Telsey Advisory
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August 21, 2015
12:17 EDTDDDeere slides after Q3 results and outlook impacted by deteriorating farm economy
Despite reporting third quarter results that surpassed analyst expectations, shares of farm equipment maker Deere (DE) are falling after the company said it sees farm equipment sales for the year lower than previously thought, as the downturn in the agricultural economy continues. WHAT'S NEW: Deere reported Q3 EPS of $1.53, down from $2.33 in the year-ago quarter, and revenue of $7.6B, down 20% from last year's Q3. Analysts' consensus estimates for Q3 were for EPS of $1.44 on revenue of $7.17B. John Deere's Chief Executive Officer Samuel Allen said, "John Deere's third quarter results reflected the continuing impact of the downturn in the farm economy as well as lower demand for construction equipment." WHAT'S NOTABLE: Looking ahead, the farm equipment maker forecast full year 2015 world-wide sales of its farm equipment to be lower by about 25% for the year compared to the 24% it forecast in May with its Q2 report. On its Q3 earnings conference call, the company said crop prices are stabilizing near the long-term average and the dairy sector remains under pressure. Beef prices remain solid while pork prices remain at low levels, Deere added. In China, the company sees continued slowdown in economic growth, lower commodity prices impacting agricultural economy, and mechanizing trends and ongoing subsidies supportive of agriculture. In India, the company sees positive consumer and investor sentiment supporting economic growth, and two consecutive below normal monsoon seasons impacting farm incomes. In the Commonwealth of Independent States, the company sees a continued deterioration of economic growth and credit conditions remaining challenged. Deere sees crop value of agricultural production in Brazil to decrease 11% in 2015. PRICE ACTION: Shares of Deere are down $6.04, or 6.6%, to $84.61 in midday trading. OTHERS TO WATCH: Other companies that are leveraged to agriculture include AGCO (AGCO),Potash (POT), Mosaic(MOS), Agrium (AGU), Syngenta (SYT), CF Industries (CF), and DuPont (DD).
August 19, 2015
13:30 EDTDDOptions with increasing put volume;
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08:07 EDTMTWManitowoc management to meet with Jefferies
Meeting to be held in New York on August 25 hosted by Jefferies.
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