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Stock Market & Financial Investment News

News Breaks
June 24, 2014
04:55 EDTPIR, PIR, PLCE, PLCE, DAR, DAR, JACK, JACK, MA, MA, BBY, BBY, POOL, POOL, CRI, CRI, JAH, JAH, LTM, LTM, TIF, TIF, DRI, DRIOppenheimer to hold a conference
14th Annual Consumer Conference to be held in Boston on June 24-25.
News For PIR;TIF;LTM;JAH;CRI;POOL;BBY;MA;JACK;DAR;PLCE;DRI From The Last 14 Days
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October 21, 2014
11:57 EDTJACKChipotle falls after outlook for FY15 comparable restaurant sales disappoints
Shares of fast casual restaurant chain Chipotle Mexican Grill (CMG) are falling after the company issued a disappointing outlook for fiscal 2015 comparable restaurant sales. WHAT'S NEW: Last night, Chipotle reported third quarter earnings per share of $4.15 and revenue of $1.08B, topping analysts’ consensus estimates of $3.84 and $1.06B, respectively. Comparable restaurant sales rose 19.8% in the quarter, driven primarily by increased traffic and from a higher average check, which includes the benefit of a nationwide menu price increase that was fully rolled out by the end of the second quarter. The company opened 43 new restaurants in Q3. WHAT'S NOTABLE: Chipotle forecast comparable restaurant sales increases in the mid-teens for fiscal year 2014, and the company said it expects to open 180-195 new restaurants during the year. The company also sees an effective tax rate for FY14 of about 38.5%. For FY15, the company sees low to mid-single digits comparable restaurant sales gains, 190-205 new restaurant openings and an effective tax rate of 39.1%. On Chipotle’s Q3 earnings conference call, management said it expects food costs to continue rising into the fourth quarter and throughout 2015. The company also noted that it was still seeing strong traction growth regardless of recent menu price increases. Chipotle said it will "opportunistically" repurchase stock in order to enhance shareholder value. ANALYST REACTION: This morning, Wells Fargo kept a Market Perform rating on Chipotle, but lowered its price target range on shares to $600-$625 from $650-$675. In its note, Wells said greater than expected commodity inflation and labor cost pressure in 2015 will likely lead to lower Street estimates. Wells expects same store sales to decline sequentially from 4Q14 through 3Q15 due to double-digit traffic comparisons in earlier quarters and less pricing in later quarters. Another firm, Oppenheimer, recommended using any post-earnings weakness in shares of Chipotle as a buying opportunity. The firm believes investors are concerned over 2015 estimates coming down on food cost pressures. The firm said food cost issues are unlikely to get worse from here and it kept an Outperform rating on Chipotle with a $775 price target. PRICE ACTION: In late morning trading, Chipotle fell $44.14, or nearly 7%, to $609.28 on nearly twice its average daily trading volume. Despite today's pull back, the shares have gained approximately 21% over the past 12 months. OTHERS TO WATCH: Other fast casual restaurant companies include El Pollo LoCo (LOCO), Fiesta Restaurant (FRGI), Jack in the Box (JACK), and McDonald’s (MCD), which reported results this morning.
11:15 EDTCRIHigh option volume stocks
High option volume stocks: DBA TUP CRI FCG TWC PLL ACM XRS RAI AMTD
October 17, 2014
10:00 EDTTIFOn The Fly: Analyst Initiation Summary
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05:32 EDTTIFTiffany initiated with an Equal Weight at Barclays
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October 16, 2014
14:09 EDTMAApple confirms October 20 start date for Apple Pay
Apple (AAPL) announced that customers can start making payments on Monday, October 20, when Apple Pay becomes available in the U.S. Users of the iPad Air 2 and iPad mini 3 will be able to use Touch ID on their devices for Apple Pay within apps. The new service will be enabled by a free software update to iOS 8. Apple Pay supports credit and debit cards from the three major payment networks: American Express (AXP), MasterCard (MA) and Visa (V). In addition to American Express, Bank of America (BAC), Capital One Bank (COF), Chase (JPM), Citi (C), Wells Fargo (WFC) and others, who announced support in September, more than 500 new banks from across the country have signed on to Apple Pay, the company said.
10:01 EDTTIFOn The Fly: Analyst Upgrade Summary
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09:54 EDTPOOLPool Corp. upgraded to Buy from Neutral at Sidoti (pre-open)
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09:45 EDTDRIDarden expands board to 13, adds William Simon
Darden Restaurants (DRI) announced that William Simon has been appointed to the company's board, effective immediately. As a result of this action, the board also voted to expand the number of seats on the Board to 13. Simon, most recently the CEO of Walmart U.S. (WMT) and a former senior executive at Brinker (EAT), previously served on Darden's board for two years but did not stand for re-election. Darden said its board "will continue to evaluate additional qualified candidates and may, or may not, make an additional appointment to the Board in the future."
07:06 EDTPOOLPool Corp. narrows FY14 EPS view to $2.38-$2.43 from $2.35-$2.45
Consensus $2.40. Manuel Perez de la Mesa, president and CEO stated, "As we enter our seasonally slower Q4, we remain on target with earlier projections and are tightening our 2014 earnings guidance to a range of $2.38-$2.43 per diluted share from the $2.35-$2.45 per diluted share guidance range provided at the onset of the year. We believe our success reflects the initiative and perseverance of our team, consistently raising the standards of performance in our industry."
07:03 EDTPOOLPool Corp. reports Q3 EPS 78c, consensus 78c
Reports Q3 revenue $615.5M, consensus $621.38M.
05:36 EDTTIFTiffany upgraded to Outperform from Neutral at Macquarie
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October 15, 2014
14:01 EDTBBYIntel launches 'Intel Experience' exclusively in 50 Best Buy stores
Intel (INTC) has launched “The Intel Experience” exclusively in 50 Best Buy (BBY) retail stores nationwide. The hands-on experience zone gives everyone the opportunity to try, explore and play with the latest, cutting-edge technologies like 3-D printing, gaming meets augmented reality, and digital disc jockey remixing.
10:02 EDTCRIOn The Fly: Analyst Upgrade Summary
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08:24 EDTCRICarter's upgraded to Conviction Buy from Buy at Goldman
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October 14, 2014
10:41 EDTDRIDarden trading higher after Gene Lee named interim CEO
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09:05 EDTDRIDarden appoints Jeffrey Smith independent non-executive chairman of the board
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October 13, 2014
13:22 EDTDRINorwegian Cruise Line names Drew Madsen as COO
Norwegian Cruise (NCLH) announced that hospitality veteran Drew Madsen has joined as president and COO of Norwegian Cruise Line. Madsen brings a strong track record of success to Norwegian with more than 30 years of leadership experience in the hospitality and consumer products industry, most recently as president and COO at Darden Restaurants (DRI) the world's largest full-service restaurant company.
10:08 EDTDRIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
07:19 EDTMAAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:05 EDTDRIDarden downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Darden to Neutral citing a lack of leadership clarity after Starboard ousted the company's entire board of directors.
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