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Stock Market & Financial Investment News

News Breaks
February 19, 2013
16:38 EDTRRGB, BBY, ODP, YNDX, FNB, HUM, OMX, DGIT, PVFC, SPLSOn The Fly: Closing Wrap
Stocks on Wall Street were higher despite a home builders confidence reading that fell a bit short of expectations. Alan Simpson and Erskine Bowles proposed a new plan for deficit reduction via tax codes changes and spending cuts with the "sequester" deadline now less than two weeks away. In spite of the political tension and looming threat, the Dow and S&P remain at multi-year highs and near their all-time highs... ECONOMIC EVENTS: In the U.S., the NAHB Housing Market Index reading of 46.0 fell short of the forecast for a reading of 48.0. In Europe, the ZEW institute's index of German investor optimism rose to 48.2 points from 31.5 in January, beating analysts' expectations... COMPANY NEWS: OfficeMax (OMX) and Office Depot (ODP) both surged after the The Wall Street Journal said the companies are in advanced talks to merge. OfficeMax gained $2.25, or 20.93%, to $13.00, while shares of Office Depot gained 43c, or 9.37%, to $5.02. Their rival Staples (SPLS) also gained $1.70, or 13.13%, to $14.65 after several research firms predicted that the company would benefit significantly if such a merger goes through and as "going private" chatter about the office retailer continues to circulate... Humana (HUM) plunged $4.98, or 6.39%, to $73.01, bearing the brunt of a decline in managed healthcare stocks after the Centers for Medicare and Medicaid Services announced preliminary 2014 Medicare Advantage benchmark payment rates. Humana said it believes the preliminary base rates in the notice would result in a mid-single-digit decline in its benchmark payment rates, while the company added that it previously expressed confidence in membership and earnings growth while assuming the Medicare Advantage payment rate would be flat to slightly down... Best Buy (BBY) shares gained 46c, or 2.73%, to $17.33 following upgrades from Stifel Nicolaus and Barclays and a Bloomberg report that said the company would make its holiday price-matching policy permanent, effective March 3... MAJOR MOVERS: Among the notable gainers was PVF Capital (PVFC), which rose $1.33, or 52.78%, to $3.85 after agreeing to be acquired by F.N.B Corp (FNB) for $3.98 per share. Also higher was Red Robin Gourmet Burgers (RRGB), up $6.88, or 18.88%, to $43.33 after its earnings and revenue beat Street expectations. Among the noteworthy losers was Digital Generation (DGIT), down $2.52, or 28.06%, to $6.46 after the company reported its quarterly results and said its special committee concluded its review of strategic alternatives without recommending any transaction. Also lower were shares of Russian search engine company Yandex (YNDX), down $2.58, or 10.08%, to $23.01 after the company's Q4 report... INDICES: The Dow was up 53.91, or 0.39%, to 14,035.67; the Nasdaq was up 21.56, or 0.68%, to 3,213.59; and the S&P 500 was up 11.15, or 0.73%, to 1,530.94.
News For OMX;ODP;SPLS;HUM;BBY;PVFC;FNB;RRGB;DGIT;YNDX From The Last 14 Days
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August 25, 2015
07:02 EDTBBYBest Buy sees no material changes in consumer spending in Q3
Sharon McCollam, Best Buy EVP, CAO and CFO, commented, "It is difficult to know, though, if the recent volatility in the financial markets will affect overall consumer spending. To date, however, we have not seen a measurable impact versus our original expectations. As such, our outlook assumes there will be no material changes in consumer spending in the third quarter. With that said, our year-over-year non-GAAP outlook for Q3 FY16 is as follows. In the Domestic business we are expecting (1) flat to low-single digit revenue growth; and (2) an approximately flat operating income rate change driven by a higher gross profit rate offset by increased SG&A due to inflation and growth-related investments. In the International business, due to the ongoing impacts of the Canadian brand consolidation and foreign currency, we are expecting (1) an International revenue decline of approximately 30% and (2) an International non-GAAP operating income rate in the range of negative 2.5% to negative 3.5%."
07:01 EDTBBYBest Buy reports Q2 adjusted continuing ops EPS 49c, consensus 34c
Reports Q2 revenue $8.53B, consensus $8.29B.
August 24, 2015
15:09 EDTBBYNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Best Buy (BBY), consensus 34c... Toll Brothers (TOL), consensus 49c... Valspar (VAL), consensus $1.26... DSW (DSW), consensus 42c... Children's Place (PLCE), consensus (33c).
12:29 EDTBBYBest Buy technical comments ahead of results
The shares have been trading in a bearish price channel since a peak of price in March of this year. If the news continues to be bearish, the current trend will likely continue. Next support below the current price of $30.53 is at the $29.50 area, the low of the current price channel. If the news is a sharp negative surprise, next supports will be at $28.11, $27.17, and $26.60. If the news is a bullish surprise, the top of the price channel at $32.78 would be the first important upside objective. It would take a breakout above the channel top to turn the trend back toward bullish. Next resistance above the channel would be at $33.75.
11:31 EDTBBYBest Buy volatility increases into Q2 and outlook
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August 21, 2015
06:31 EDTBBYBest Buy volatility into Q2 and outlook
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August 20, 2015
19:53 EDTBBYRetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
09:42 EDTBBYBest Buy traffic and ticket trends improved in Q2, says ITG Research
ITG Research said Best Buy's traffic and ticket trends improve in Q2 versus Q1 driven by a mix shift towards big ticket items. The firm's Q2 domestic revenue estimates of $7.8B remains above consensus of $7.657B.
August 19, 2015
13:30 EDTSPLSOn The Fly: Top stock stories at midday
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06:03 EDTSPLSStaples sees Q3 non-GAAP EPS 33c-36c, consensus 36c
Sees Q3 revenue to decrease compared to 3Q14, consensus $5.73B. The company's guidance reflects a sequential increase in the unfavorable impact of the stronger U.S. dollar on sales and earnings. The company's earnings guidance excludes any potential impact related to restructuring and other related activities or costs related to the company's planned acquisition of Office Depot. For the full year 2015, the company expects to generate more than $600 million of free cash flow.
06:02 EDTSPLSStaples reports Q2 North American stores and online sales $2.11B
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06:01 EDTSPLSStaples reports Q2 non-GAAP EPS 12c, consensus 12c
Reports Q2 revenue $4.94B, consensus $4.96B
August 18, 2015
14:51 EDTSPLSNotable companies reporting before tomorrow's open
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14:26 EDTSPLSStaples August 14 straddle priced for 5.8% movement into Q2
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09:04 EDTFNBF.N.B. subsidiary announces retirement of President and creation of new roles
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08:10 EDTSPLSStaples August volatility elevated into Q2 and outlook
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August 17, 2015
12:12 EDTSPLS, ODPFTC announces resignation of Commissioner Joshua Wright
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06:01 EDTODPStocks with implied volatility above IV index mean; WMB ODP
Stocks with implied volatility above IV index mean; Williams (WMB) 57, Office Depot (ODP) 60 according to iVolatility.
August 14, 2015
13:03 EDTHUMOmega Advisors gives quarterly update on stakes, discloses stake in Google
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08:16 EDTSPLS, ODPStaples risk/reward remains compelling, says UBS
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