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Stock Market & Financial Investment News

News Breaks
August 21, 2014
10:35 EDTBONT, M, JCP, SHLDSears falls after reporting Q2 loss that more than doubled analyst projections
Shares of retailer Sears (SHLD) are slumping after the company reported a second quarter loss that was more than double what analysts projected. WHAT'S NEW: Sears' Q2 earnings per share was a loss of $5.39, which far surpassed analysts' consensus estimates of a $2.63 loss. The company's Q2 revenue was $8.01B, also missing analysts' consensus estimates of $8.13B. Same-store sales for the quarter at its full-line stores were up 0.1% and Kmart SSS for the quarter declined 1.7%. Sears' Chief Executive Officer Edward S. Lampert said that the company has shown progress in transformation, but added that the Q2 earnings "are unacceptable." Lampert said the company is "taking steps" to address its performance on several levels, including reducing costs, investing in its Shop Your Way and Integrated Retail customer initiatives, rationalizing our physical footprint and improving pricing and promotions. WHAT'S NOTABLE: During the company's conference call, the company said that it expects domestic pension contributions to decline after FY14, providing relief from funding pressures created by artificially low interests rates. During the FY14 holiday season, Sears expects that its domestic inventory will be at a level that the borrowing base will not limit the amount it can draw under the credit facility. The retailer said that it is taking steps to reduce costs, invest in acceleration of transformation, and improve pricing and promotional design. As Sears continues to adjust its store footprint, it expects to further reduce lease obligations. A main goal for the company is to focus on investments and acquisitions that will enhance shareholder value. Sears noted that it sees additional revenue and margin benefit in the future. The retailer expects to close 130 stores in FY14 and has closed 95 to date. 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 $2.51, or 7.15%, to $33.38. Macy's was up 0.4%, Bon-Ton Stores rose 10% and J.C. Penney rose 1.02%.
News For SHLD;M;BONT;JCP From The Last 14 Days
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August 31, 2015
09:48 EDTJCPJ.C. Penney tests recent range highs
The shares are bucking the broader market trend and heading higher, last up over 1.8% to $9.10. The next level of major resistance would be at $9.42, a high that has not been met since April. Support is at $9.03. A breakout above $9.42 would break the stock out of a long base, which would be technically bullish for future price.
09:24 EDTJCPOn The Fly: Pre-market Movers
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09:09 EDTSHLDMP Associates to hold a conference
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06:54 EDTJCPJ.C. Penney upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Paul Trussell upgraded J.C. Penney to Buy and raised his price target for shares to $12 from $10. The retailer closed Friday up 47c to $8.94. Penny's target of mid-single-digit same-store-sales growth looks achievable while the company's brands and assortment look right, Trussell tells investors in a research note. Further, new CEO Marvin Ellison is bringing Penny "up the curve" in pricing and markdown optimization while reducing corporate redundancies, the analyst writes. He views the company as a "self-help story with multiple levers to pull."
August 28, 2015
06:03 EDTJCPJ.C. Penney implied volatility of 48 at lower end of index mean range
August 26, 2015
07:33 EDTBONTBon-Ton Stores opens 743,000 square foot fulfillment center in Ohio
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August 25, 2015
09:59 EDTMOn The Fly: Analyst Upgrade Summary
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07:46 EDTMMacy's upgraded on valuation at Deutsche Bank
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06:21 EDTMMacy's upgraded to Hold from Sell at Deutsche Bank
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06:18 EDTSHLDSears names Lynn Pendergrass as Hardlines president
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August 24, 2015
10:24 EDTMMacy's initiated with a Buy at Standpoint Research
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09:49 EDTMFitbit being sold at Macy's seen as near-term catalyst
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07:27 EDTMFitbit entry at Macy's a significant near-term catalyst, says Piper Jaffray
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August 20, 2015
19:53 EDTJCPRetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
15:47 EDTBONTGabelli lowers stake in Bon-Ton Stores to 11.81% from 12.82%
10:28 EDTJCPOptions with decreasing implied volatility
Options with decreasing implied volatility: KING JCP URBN DKS JWN HIG ADI DAR LOW TJX
06:08 EDTSHLDSears reports Q2 adjusted EPS ($2.40), one estimate ($2.50)
Reports Q2 revenue $6.2B, one estimate $5.72B. Reports Q2 SSS down 10.8%, comprised of decreases of 7.3% and 14.0% at Kmart and Sears Domestic, respectively, which accounted for $584M of the revenue decline.
August 19, 2015
15:05 EDTSHLDSears August volatility elevated into Q2 and outlook
Sears August call option implied volatility is at 126, September is at 70; compared to its 52-week range of 44 to 122 suggesting large price movement into the expected release of Q2 results on Aug 20.
13:23 EDTJCPOptions with increasing call volume
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10:14 EDTJCPOptions with decreasing implied volatility
Options with decreasing implied volatility: KING SUNE YY JCP URBN NTES DKS DANG SINA KSS
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