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Stock Market & Financial Investment News

News Breaks
August 21, 2014
10:35 EDTSHLD, M, BONT, JCPSears 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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September 26, 2014
09:12 EDTMFinish Line cites assortment 'blip' for Q2 performance
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07:12 EDTMFinish Line says Q2 results fell short due to basketball offering 'softness'
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September 25, 2014
14:35 EDTSHLDSears holder Fairholme says St Joe unable to come to terms on loan agreement
Fairholme disclosed in a filing that Fairholme Capital previously disclosed that The St Joe Company, an affiliate of the Fund and Fairholme, was in discussions concerning possible participation in the $400M secured short-term loan disclosed on the 8-K filed by the Issuer on September 15. The St. Joe Company was unable to agree on terms for such a participation in light of its investment criteria and has declined the opportunity to participate. Separately, Fairholme Capital and certain of their affiliates are in discussions concerning a substantially smaller participation in the Short-Term Loan. Fairholme Capital and their affiliates may acquire, hold or sell participations in the Short-Term Loan or other indebtedness of Sears, and may discuss other potential debt or equity investments in the Issuer and its affiliates, from time to time.
14:29 EDTSHLDSears holder Fairholme says The St Joe Company not participating in loan
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11:22 EDTMSkechers rebounds after refuting Barrington research report
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10:37 EDTSHLDSears Canada CEO Douglas Campbell resigns
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September 24, 2014
10:29 EDTSHLDESL says PYOF 2014 Loans purchased 12.5% stake in Sears loan
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September 22, 2014
11:38 EDTJCPStocks with call strike movement; JCP TWTR
J.C. Penney (JCP) February 12 call option implied volatility increased 5% to 45, Twitter (TWTR) January 62.5 call option implied volatility increased 4% to 46 according to IVolatility.
11:26 EDTSHLDOptions with increasing implied volatility
Options with increasing implied volatility: SHLD VRTX TRP AGNC
06:59 EDTSHLDSears failed to get 'acceptable' bids for Sears Canada unit, NY Post reports
Sears failed to get any acceptable bids for its Sears Canada unit after potential bidders examined the company’s books, the New York Post reports. Sears was forced last week to take out a $400M loan from CEO Eddie Lampert's hedge fund. Reference Link
September 19, 2014
17:17 EDTSHLDESL Partners reports 48.5% stake in Sears, provides update on loan talks
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September 18, 2014
18:25 EDTSHLDOn The Fly: After Hours Movers
HIGHER: Concur (CNQR), up 19.5% after SAP (SAP) announced that it will acquire the company for $129 per share... Navidea Biopharmaceuticals (NAVB), up 9.8% after confirming FDA orphan designation for Lymphoseek... Molycorp (MCP), up 6.1% after Oaktree Capital reported a 9.1% passive stake in the company... JetBlue (JBLU), up 4.6% following CEO transition announcement... Wendy's (WEN), up 2.15% after Trian reported a 24.39% stake in the company... Sears Holdings (SHLD), up 2.6% after Fairholme Capital reported a 24% stake in the company... AMD (AMD), up 1% after announcing that it expanded an IP partnership with Synopsys (SNPS). DOWN AFTER EARNINGS: Red Hat (RHT), down 3%... Oracle (ORCL), down 2.4% following first quarter earnings miss and CEO transition... Tibco Software (TIBX), down 5.5%. ALSO LOWER: Quest Resource (QRHC), down 13.4% after filing an automatic common stock and warrant shelf... Eagle Rock (EROC), down 4.5% after filing to sell 53.34M common units for limited partners... Chatham Lodging (CLDT), down 3.3% after filing to sell 5M shares of common stock... Glu Mobile (GLUU), down 2.3% after filing to sell 9.98M shares of common stock for holders... Blackstone Mortgage (BXMT), down 1.6% after filing to sell 8M shares of common stock.
17:33 EDTSHLDFairholme Capital reports 24.0% stake in Sears
The St. Joe Company, an affiliate of the Fund and Fairholme, is in discussions with the company regarding the $400M secured short-term loan disclosed on the 8-K filed by the Issuer on September 15. The St. Joe Company may invest up to $100M in participations relating to the Short Term Loan.
12:07 EDTJCPStocks with call strike movement; JCP FB
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10:56 EDTSHLDSears operations erasing $10/share in value each year, says Credit Suisse
In a note titled "Thinking About 'The End,'" Credit Suisse earlier today said events over the past month "had to shake supplier confidence" in Sears. The firm noted that Sears is generating negative operating cash flow of between $1B-$2B in 2014. Credit Suisse concludes that if Sears' real estate assets are worth as much as bulls think they are, then the company should liquidate since its operations are taking over $10 per share of value away every year. It has Underperform rating on Sears with a $20 price target. Shares of the retailer are down 2%, or 66c, to $28.90 in morning trading.
09:36 EDTSHLDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL YHOO TWTR VVUS RAD PWE WFM TSLA PIR SHLD
September 17, 2014
09:36 EDTSHLDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFM X YHOO TSLA TWTR RAX SHLD SPLS
05:46 EDTSHLDStocks with implied volatility above IV index mean; SHLD GTAT
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September 16, 2014
10:15 EDTSHLDSears tumbles to fresh 52-week low, levels to watch
The shares hit a fresh 52-week low at $30.88 before bouncing slightly higher. WIth price last at $31.18, support is at that new low. A break below $30.88 would see next support at $30.10. Resistance is at $31.71, a pivot low on a closing basis, and then at $32.62.
06:35 EDTSHLDSears borrows $400M from CEO's hedge fund
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