New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 22, 2014
10:55 EDTJCP, SHLD, BONT, MSears falls after reporting Q1 loss that nearly doubled analyst projections
Shares of U.S. and Canadian retailer Sears (SHLD) are falling today after the company reported a first quarter loss that was nearly double what analysts projected in both the U.S and Canada. WHAT'S NEW: Sears reported a Q1 loss per share of $3.79, which far surpassed analysts expectations of a loss per share of $1.87. The company reported Q1 revenue of $7.88B, which slightly beat analysts expectations of $7.71B. The company reported Sears Domestic comparable sales growth of 0.2% in the quarter, despite the continuing impact of consumer electronics industry trends. Kmart comparable store sales, excluding the impact of consumer electronics industry trends and the company's grocery and household goods business were down 0.4%. CEO Edward Lampert said that the company is undergoing a "significant transformation and fundamentally it is changing the way it does business. Our performance in Q1 highlights the challenges we are facing as well as the progress we are making in this transformation. We are moving away from a company that was heavily based on selling products solely through a store-based network to a member-centric business model focused on providing benefits to our members anytime and anyplace. We are seeing progress in our transformation to a member-centric, integrated retailer, as we continue to invest heavily in driving our Shop Your Way program. While this progress continued, the biggest negative contributor to sales has been from our consumer electronics business at both Sears and Kmart." The company noted that it continues to evaluate options to separate the Sears Auto Center business. WHAT'S NOTABLE: Yesterday, Sears Canada, which Sears Holdings owns a 51% stake in, reported a Q1 net loss that more than doubled year-over-year. OTHER NEWS: During the company's earnings conference calls, Sears Holdings said that it is planning to transform its consumer electronics business from a business that was focused primarily on selling televisions to a business focused on providing Connected Life solutions. The company noted that it is currently rolling out the concept to select stores. OTHERS TO WATCH: Competitors of Sears include Macy's (M), Bon-Ton Stores (BONT) and J.C. Penney (JCP). PRICE ACTION: During morning trading, shares of Sears fell $1.45 or $3.97% to $35.11. Macy's was up 1%, Bon-Ton Stores rose 2.16% and J.C. Penney rose 2%.
News For SHLD;M;BONT;JCP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 27, 2015
10:51 EDTMOptions with increasing volume; OLED BURL CLVS M ACAS WBA NTES
Subscribe for More Information
08:26 EDTMAdobe says U.S. e-commerce sales surged on Thanksgiving, Bloomberg reports
Adobe Systems estimated that online shoppers in the U.S. spent $1.1B by 5 pm ET on Thanksgiving and projected that $1.7B would be spent in online shopping by day's end, a 22% jump from last year, reported Bloomberg. Major e-commerce players that may benefit from the surge in spending include (AMZN) and eBay (EBAY), while companies with omnichannel presences including e-commerce and brick-and-mortar locations include Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and Macy's (M). Reference Link
06:52 EDTSHLDLands' End to offer 40% off outerwear at Sears stores for Black Friday
Subscribe for More Information
November 24, 2015
08:09 EDTBONTBon-Ton Stores announces two-day Cyber Monday sale
Subscribe for More Information
06:20 EDTSHLD, JCPRetailers hunt for new breaches after warning on malware, Reuters says
Subscribe for More Information
November 22, 2015
13:42 EDTMMacy's shares look too cheap to ignore, Barron's says
Shares of Macy's look inexpensive, and long-term investors could realize double-digit annual returns as the company "gets back on track" over the next 12-18 months, Barron's contends in a 'Trader Extra' column. Reference Link
November 20, 2015
19:01 EDTMMacy's management to meet with JPMorgan
Subscribe for More Information
12:40 EDTSHLDOptions with increasing implied volatility:TERP CHK NMBL SHLD POM
Subscribe for More Information
November 19, 2015
06:36 EDTBONTBon-Ton Stores lowers FY15 EPS view to ($2.65)-($2.15) from (25c)-25c
Subscribe for More Information
06:33 EDTBONTBon-Ton Stores reports Q3 EPS ($1.72), consensus (59c)
Subscribe for More Information
November 18, 2015
09:08 EDTMTJX benefitting from off-price retail market growth, WSJ says
Subscribe for More Information
November 17, 2015
10:13 EDTJCPJ.C. Penney management to meet with Buckingham
Subscribe for More Information
10:11 EDTMOptions with decreasing implied volatility
Subscribe for More Information
November 16, 2015
16:43 EDTMGreenlight Capital added Apple, sold some SunEdison
Greenlight Capital gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: CNX Coal Resources (CNXC), Garmin (GRMN), Terraform Global (GLBL), and Liberty Global (LILA). INCREASED STAKES: Apple (AAPL), Michael Kors (KORS), Dillard's (DDS), UIL Holdings (UIL), and Twenty-First Century Fox (FOXA). DECREASED STAKES: SunEdison (SUNE), Micron (MU), Voya (VOYA), Applied Materials (AMAT), and SunEdison Semiconductor (SEMI). LIQUIDATED STAKES: Citizens Financial (CFG), Lam Research (LRCX), Spirit AeroSystems (SPR), Hertz (HTZ), and Macy's (M).
16:29 EDTJCPJ.C. Penney announces plans to retire $500M asset-based term loan
J. C. Penney Company announced that it has received $500M of incremental bank commitments to increase the size of the Revolving Line of Credit under its existing Senior Secured Asset-Based Credit Facility to $2.35B from $1.85B. In connection with upsizing the revolving credit facility, the Company also intends to prepay and retire the outstanding principal amount of its $500M Term Loan previously issued under the ABL, which is scheduled to mature in June 2019. The Company expects to close these transactions in December.The Company expects that retirement of the ABL Term Loan will reduce interest expense by approximately $20M annually, beginning in 2016. The $2.35B ABL revolving line of credit, which will also mature in June 2019, will remain available for seasonal working capital needs and general corporate purposes. Marvin Ellison, chief executive officer, said, "We proactively pursued this transaction to reduce our long-term debt and ongoing interest expense and to further enhance our financial flexibility while maintaining our strong liquidity position as we continue to make progress on our goal of $1.2B in EBITDA by 2017."
11:35 EDTM, SHLD, JCPDillard's sinks to 52-week low after joining chorus of 'disappointed' retailers
Shares of Dillard's (DDS), a retailer of fashion apparel, cosmetics and home furnishing, are falling to their worst level in a year after the company became the latest in its industry to report lower than expected third quarter results. WHAT'S NEW: This morning, Dillard's reported Q3 earnings per share of $1.19 and revenue of $1.435B, narrowly missing analysts' consensus estimates of $1.20 and $1.49B, respectively. Same-store sales for the quarter fell 4%. Total merchandise sales decreased 3% for the 13-week period ended October 31. Weaker performing categories were men's apparel and accessories and ladies' accessories and lingerie with notable weakness in home and furniture the company explained. Dillard's Chief Executive Officer, William T. Dillard, II, stated, "We are disappointed with our third quarter sales performance and in the resulting decline in profit. Share buyback remained a high priority, and we repurchased $175 million of stock under our share repurchase program." WHAT'S NOTABLE: Gross margin from retail operations improved 11 basis points of sales for the 13 weeks ended October 31 compared to the prior year third quarter. Consolidated gross margin for the 13 weeks ended October 31 declined 30 basis points of sales compared to the prior year third quarter. The disparity between retail and consolidated gross margin performance is attributable to increased revenue at CDI, which is a substantially lower margin business. Inventory increased 6% at October 31 compared to November 1, 2014. For FY15, the company expects capital expenditures of $150M. PRICE ACTION: In late morning trading, Dillard's fell $5.81, or 7.5%, to $71.79 on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $68.05. Including today's pull back, the shares have lost about 36% over the past 12 months. OTHERS TO WATCH: Other apparel, cosmetics and home furnishing retailers include Macy's (M), Kohl's (KSS), JC Penny (JCP), Sears (SHLD) and Nordstrom (JWN).
10:25 EDTMOptions with decreasing implied volatility
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use