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Stock Market & Financial Investment News

News Breaks
January 16, 2014
08:07 EDTSHLD, SPG, DKSSears signs lease agreement with Dick's Sporting at Simon Property mall
Sears (SHLD) has signed a sublease with Dick's Sporting Goods (DKS) to occupy a portion of its second floor at the King of Prussia Mall in King of Prussia, Pa. King of Prussia Mall is one of the largest malls in the United States and is owned and managed by Simon Property (SPG).
News For SHLD;DKS;SPG From The Last 14 Days
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April 15, 2015
13:54 EDTSPGOrange Capital pressures Macerich over rejected Simon Property bid, WSJ says
Activist investor Orange Capital, which has a stake of less than 1% in Macerich (MAC), has teamed up with Jonathan Litt led Land and Buildings Fund, to urge Macerich to reconsider the $16.8B “best and final” takeover bid from Simon (SPG), says the Wall Street Journal, citing sources. Reference Link
13:43 EDTSPGOrange Capital pressures Macerich over rejected Simon Property bid, DJ says
10:36 EDTSPGBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
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08:09 EDTDKSDick's Sporting realistic long-term targets positive, says UBS
UBS said the new realistic long-term targets set by Dick's Sporting are a positive, as they set the foundation for a favorable earnings revision cycle. UBS reiterated its Buy rating and $67 price target on Dick's Sporting shares.
April 14, 2015
07:37 EDTDKSDick's Sporting backs FY15 EPS $3.10-$3.20, consensus $3.20
The company's earnings per share guidance includes the expectation of approximately $100M-200M of share repurchases in 2015. Consolidated SSS are currently expected to increase 1 to 3% in fiscal 2015.
07:36 EDTDKSDick's Sporting backs Q1 EPS 49c-53c, consensus 53c
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07:36 EDTDKSDick's Sporting expects to invest $850M in net CapEx over next three years
DICK'S Sporting Goods also reaffirmed its capital allocation strategy to provide returns to shareholders through investing in the business, repurchasing shares and paying dividends. To drive the growth of the business the company expects to invest approximately $850M in net capital expenditures over the next three years, primarily in new stores, store remodels and eCommerce. With its $1B 5-year share repurchase authorization, the company targets share repurchases of $100 to 200 million annually. The company is also committed to quarterly dividends.
07:35 EDTDKSDick's Sporting expects to open 9 Specialty Concept stores in 2015
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07:34 EDTDKSDick's Sporting plans to have ecommerce site on own platform in January 2017
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07:34 EDTDKSDick's Sporting sees significant opportunity to increase market share in US
The company sees significant opportunity to increase market share in the U.S. through growing its DICK'S Sporting Goods store base in new and underpenetrated markets and increasing its eCommerce sales. Stores continue to be a very profitable growth vehicle that deliver strong new store productivity, accelerate eCommerce growth, build brand equity and customer loyalty, and reinforce the strength of the Company's vendor partnerships. The company is taking a measured approach to growing its store count and anticipates growing its DICK'S Sporting Goods store base to approximately 735 to 750 stores by the end of fiscal 2017, an increase of approximately 135 to 150 stores from the 603 stores at the end of fiscal 2014. The company plans to grow eCommerce sales to approximately $1B-1.2B in fiscal 2017, from $628 million in fiscal 2014.
07:32 EDTDKSDick's Sporting sees FY17 revenue $8.7B-$9B, 3-year EPS CAGR of 12%-16%
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April 13, 2015
09:23 EDTSHLDSears moves higher on Simon Property Group deal
Price was last higher by over 3.8% in the pre-market to $44.60 after the company struck a deal with Simon Property Group (SPG) similar to that previously made with General Growth Properties (GGP). Resistance is at $45.69. Support is at $44.02.
08:32 EDTDKSUnder Armour rises after Spieth brings attention to golf gear
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08:19 EDTSPGSimon Property reinstated with a Buy at Goldman
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06:35 EDTSHLD, SPGSears volatility low into Simon Property a joint venture of real estate holdings
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06:22 EDTSHLDGap, Target, others scrutinized by NY AG over staffing practices, WSJ says
Several major retailer including Gap (GPS) and Target (TGT) are under investigation by New York Attorney General Eric Schneiderman over their staffing practices and whether they require workers to show up or stay home with little notice, The Wall Street Journal reports. Schneiderman sent letters warning Abercrombie & Fitch (ANF), JC Penney (JCP), Urban Outfitters (URBN), TJX Cos (TJX), Ann Inc (ANN), L Brands (LB), Burlington Stores (BURL), Sears Holdings (SHLD), Williams-Sonoma (WSM) and J Crew Group that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. Reference Link
06:06 EDTSPG, SHLDSears, Simon Property form 50/50 JV
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April 11, 2015
14:02 EDTDKSDick's Sporting to host analyst meeting
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April 10, 2015
07:31 EDTDKSDick's Sporting long-term positioning underappreciated, says UBS
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April 6, 2015
06:59 EDTSPGSimon Property reinstated with an Overweight at JPMorgan
Price target raised to $215 from $205.
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