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Stock Market & Financial Investment News

News Breaks
May 22, 2014
10:55 EDTSHLD, M, BONT, JCPSears 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
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August 24, 2014
19:08 EDTSHLDInvestors should stay away from Sears, Barron's says
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August 22, 2014
07:09 EDTSHLDSears looking to shore up balance sheet, WSJ reports
Sears CFO Robert Schriesheim says the struggling retailer is looking to take steps to shore up its balance sheet over the next six to 12 months, the Wall Street Journal reports. The executive says Sears will work with its lenders to evaluate its capital structure, and may look to refinance some debt, including its revolving credit facility. Reference Link
August 21, 2014
17:00 EDTSHLDOn The Fly: Closing Wrap
Stocks began the session in lackluster fashion as the averages opened just above yesterday’s close. There was little early reaction to the morning’s economic reports including the jobless claims data, Philadelphia Fed report, leading economic indicators, and natural gas storage change report. But by mid-day, the Dow had asserted itself as the day’s leader while the Nasdaq struggled to stain positive territory. As the afternoon progressed the Dow continued its advance, the Nasdaq hit 14-year highs, and the S&P also touched a new all-time high. ECONOMIC EVENTS: Jobless Claims data continues to trend lower, with the week of August 16 coming in at 298K vs. a consensus of 300K... The PMI Manufacturing Index Flash was strong at 58.0 for August, up 1.7 points from the July flash of 56.3. COMPANY NEWS: eBay (EBAY) rose almost 5% after a report said that a PayPal spin-off was under consideration... Hormel (HRL) gained almost 5% and hit a 52-week high after reporting better than expected earnings before the market opened... Sears Holding (SHLD) fell over 7% after reporting Q2 earnings this morning that missed on the top and bottom lines. INDEXES: The Dow closed up 60.36, or 0.36%, to 17,039.49, the Nasdaq closed up 5.62, or 0.12%, to 4,532.10, and the S&P 500 closed up 5.86, or 0.29%%, to 1,992.37.
13:00 EDTSHLDOn The Fly: Midday Wrap
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10:35 EDTJCP, BONT, SHLD, MSears falls after reporting Q2 loss that more than doubled analyst projections
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10:22 EDTJCPOptions with decreasing implied volatility
Options with decreasing implied volatility: AMPE FOLD VHC ACHN JCP WB JD YPF
09:50 EDTSHLDSears falls after earnings, levels to watch
The stock is down 4.7% to $34.24 at time of writing following a much wider than expected loss for the company's Q2. At current price support is at the session low at $33.51 and then at $32.62. Resistance is at $35.16.
09:37 EDTSHLDActive equity options trading on open
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09:07 EDTSHLDOn The Fly: Pre-market Movers
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07:05 EDTBONTBon-Ton Stores cuts FY14 EPS to 25c-55c from 40c-70c, consensus 57c
Cuts FY14 SSS to up 1%-2% from up 1%-3%; Cuts FY14 adjusted EBITDA to $165M-$175M from $170M-$180M; Sees FY14 gross margin rate flat up to 20 basis points. Sees FY14 SG&A expense rate flat to up 20 basis points. Sees FY14 estimated tax rate of 39%. Backs FY14 CapEx $75M. Cuts FY14 cash flow to $15M-$25M from $20M-$30M.
07:01 EDTBONTBon-Ton Stores reports Q2 SSS up 1.6%
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07:01 EDTBONTBon-Ton Stores reports Q2 EPS ($1.86), consensus ($1.54)
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06:04 EDTSHLDSears reports Q2 EPS ($5.39), consensus ($2.63)
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August 20, 2014
15:26 EDTBONTNotable companies reporting before tomorrow's open
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15:17 EDTSHLDSears Holdings August weekly 36.5 straddle priced for 8.5% move into Q2
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11:42 EDTJCPOptions with decreasing implied volatility
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08:31 EDTMMacy's reaches agreement with NY AG on racial profiling allegations
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05:51 EDTJCPStocks with implied volatility movement; JCP VHC
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August 19, 2014
10:42 EDTJCPOptions with decreasing implied volatility
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07:54 EDTSHLDSears Holdings August weekly volatility increases into Q2 and outlook
Sears Holdings August weekly call option implied volatility is at 126, September is at 55, December is at 46, March is at 46; compared to its 26-week average of 55 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on August 21.
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