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Stock Market & Financial Investment News

News Breaks
April 4, 2013
05:58 EDTPG, COST, CHD, CLX, WMTLaundry soap sales shrink as pods emerge, WSJ reports
The laundry soap business is shrinking as premeasured pod detergents from Procter & Gamble (PG) and others stop consumers from over usage, reports the Wall Street Journal. Total U.S. sales of laundry detergents slid 2.1% in the 12 months to March, according to market-information firm Nielsen, whose data excludes sales from Costco (COST) and some other retailers.Detergent sales are down 5.1% in dollar terms, to $7.06B from $7.44B.Reference Link
News For PG;COST;CHD;CLX;WMT From The Last 14 Days
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April 17, 2014
08:51 EDTWMTWal-Mart announces money transfer service
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07:32 EDTWMTMoneyGram to host conference call
Conference call to discuss Walmart's announcement of new service offering will be held on April 17 at 9 am. Webcast Link
06:24 EDTWMTWal-Mart, Euronet to announce new service today
Walmart (WMT) and Euronet (EEFT) last night announced that they will hold a conference call today to announce a new service. "Walmart and Euronet are committed to providing innovative solutions to help customers reduce costs and better manage their money," the press release stated. Shares of Euronet rallied 77c to $41.56 in after-hours trading following the news.
06:20 EDTWMTWal-Mart and Euronet host conference call
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April 15, 2014
05:38 EDTWMTWal-Mart downgraded to Underperform from Market Perform at William Blair
William Blair downgraded its rating on Wal-Mart (WMT) to Underperform from Market Perform citing risks with e-commerce competition and the prospect of sector rotation away from retailers. William Blair says retail sales were sluggish in Q1 with weak consumer confidence for low-income households.
05:25 EDTCHD, CLX, PGHPC sector upgraded to Neutral from Cautious at Goldman
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April 11, 2014
07:49 EDTCOSTCostco earnings can accelerate 'dramatically,' says Janney Capital
Janney Capital says Costco's price investments continue to drive share and build loyalty and have helped its traffic remain robust. The firm expects strong traffic to continue and for gas and forex headwinds to subside, which could lead to Costco's earnings accelerating "dramatically" in 2014. Janney keeps a Buy rating on Costco shares.
07:09 EDTWMTLi & Fung collaborates with Citigroup on brand unit spinoff, Bloomberg says
Li & Fung (LFUGF)) is said to be collaborating with Citigroup (C) to spin off its brands division, which is valued at nearly $2B, according to Bloomberg, citing people with knowledge of the matter. The company's brand unit sells clothing and toys to retailers such as Wal-Mart (WMT) and Kohl's (KSS). Reference Link
April 10, 2014
13:14 EDTWMTFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
09:48 EDTCOSTCostco sees 1.5%-2% effect on April comps from 1 less shopping day
This April to include 27 selling days, compared to 28 days in same period last year. Costco says average transaction flat year-over-year in March, including forex impact. Comments from March sales results call.
06:13 EDTWMTWal-Mart to carry Wild Oats organic food items
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06:04 EDTPGYahoo hires Bobbi Brown to be editor-in-chief of beauty site, Re/code reports
Yahoo (YHOO) has hired Bobbi Brown, the creator of Bobbi Brown Cosmetics (EL), to be the editor-in-chief of its beauty site, Re/code reports, noting that several of Yahoo's big advertisers -- L'Oreal (LRLCY), Procter & Gamble (PG) and Unilever (UN, UL) -- are competitive with Bobbi Brown Cosmetics. Reference Link
05:47 EDTCOSTCostco reports March total company SSS up 5%
Reports March revenue up 8% to $10.43B vs. $9.67B last year. Reports March total company SSS, excluding negative impacts from gasoline price deflation and foreign exchange, up 7%.
April 9, 2014
12:18 EDTPGOn The Fly: Midday Wrap
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09:20 EDTCOSTBofA/Merrill's retail analysts hold an analyst/industry conference call
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09:10 EDTWMTWal-Mart to purcahse energy-efficient LED ceiling lighting fixtures from GE
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09:03 EDTPGMars agrees to buy part of Proctor & Gamble for $2.9B
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April 8, 2014
06:17 EDTWMTWal-Mart to expand in India, add e-commerce, wholesale stores, WSJ reports
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April 7, 2014
07:04 EDTPGProcter & Gamble increases quarterly dividend 7% to 64.36c per share
The Procter & Gamble Company announced that its Board of Directors declared an increase in the quarterly dividend from 60.15c to 64.36c per share on its Common Stock and on the Series A and Series B ESOP Convertible Class A Preferred Stock of the company, payable on or after May 15, to Common Stock shareholders of record at the close of business on April 25, and to Series A and Series B Preferred Stock shareholders of record at the start of business on April 25. This represents a 7% increase compared to the prior quarterly dividend.
April 4, 2014
08:02 EDTWMTSam's Club extends contract for branded credit card program with GE Capital
Samís Club, a division of Wal-Mart Stores (WMT), has finalized a multi-year agreement with GE Capital Retail Bank (GE) to extend their existing relationship to provide Samís Club-branded credit cards to club members in the U.S. and Puerto Rico. As part of the extension, GE Capitalís Retail Finance business will continue to manage and service the credit card programs for Samís Club Savings, Business and Plus members. Under the agreement, the Samís Club co-branded credit card programs will be converted to MasterCard (MA) later this year. Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.
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