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Stock Market & Financial Investment News

News Breaks
January 8, 2013
12:32 EDTSHLD, MON, MDCO, SIG, CY, AYI, FIOOn The Fly: Midday Wrap
Stocks on Wall Street were lower again at midday as investors shift their focus from the fiscal cliff to the fourth-quarter earnings season, set to unofficially kick off after the closing bell when Dow component Alcoa (AA) reports. Expectations for the earnings season are muted, with S&P 500 companies forecast to post earnings growth of just 2.8% for the quarter, according to Thomson Reuters. Profit-growth estimates were sharply reduced from the expected growth rate of 9.2% called for at the end of September, according to FactSet. The averages have drifted lower on fairly light volume, indicating a lack of buying rather than intense selling, as investors may be content to wait to see how the earnings season develops before stepping back in... ECONOMIC EVENTS: In the U.S., the NFIB small-business-optimism index rose to 88.0 in December from 87.5 in November. In Europe, zone-wide unemployment hit a new record rate of 11.8% in November, though the European Commission also separately reported that its December Economic Sentiment Indicator improved by 1.3 points in the euro area, to 87.0, and remained generally unchanged at 88.4 in the broader EU. In Asia, Japan said it will use its foreign reserves to continue to buy bonds issued by the European Stability Mechanism to help weaken the yen... COMPANY NEWS: Sears Holdings (SHLD) said late Monday that CEO Louis D’Ambrosio will step down due to family health reasons and be replaced in that role by Eddie Lampert, its chairman of the board and largest shareholder. Sears also forecast adjusted earnings for Q4 that beat consensus expectations but shares fell about 5% near noon... Among companies reporting earnings after yesterday's close or before today's open, Monsanto (MON) advanced and Acuity Brands (AYI) declined... MAJOR MOVERS: Among the notable gainers were The Medicines Company (MDCO), up 11% after announcing results for a Phase 3 trial of one of its drugs, and Signet Jewelers (SIG), up 9% after reporting its holiday season same-store sales rose 3.3% and issuing earnings guidance. Among the noteworthy losers were Cypress Semiconductor (CY), down 9% after cutting its Q4 earnings forecast, and Fusion-io (FIO), which fell 8% after William Blair downgraded the stock to Market Perform... INDICES: Near noon, the Dow was down 68.23, or 0.51%, to 13,316.06; the Nasdaq was down 15.69, or 0.51%, to 3,083.12; and the S&P 500 was down 7.46, or 0.51%, to 1,454.43.
News For SHLD;MON;MDCO;SIG;CY;AYI;FIO From The Last 14 Days
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August 28, 2014
07:06 EDTSIGSignet Jewelers reports Q2 organic EPS $1.00, consensus 98c
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August 27, 2014
11:32 EDTSIGTiffany shines brighter as results beat expectations, company raises outlook
Shares of luxury retailer Tiffany (TIF) are moving higher after the company reported significantly stronger than expected second quarter results and raised its fiscal year 2015 earnings per share view. WHAT'S NEW: Tiffany's reported Q2 EPS of 96c on revenue of $993M, beating analysts' consensus estimates of 85c and $987.88M, respectively. Worldwide net sales increased 7% in Q2 and comparable store sales increased 3% in Q2 mainly due to growth in the Americas and Asia-Pacific regions. Looking ahead, the retailer increased its FY15 EPS view to $4.20-$4.30 from its previous view of $4.15-$4.25, which is in-line with analysts' $4.29 consensus. Tiffany anticipates worldwide net sales increasing by a high-single digit range and sees worldwide net sales increasing by a high-single-digit percentage for the year. The company also sees FY free cahs flow of at least $400M as well as capital expenditures of $270M. WHAT'S NOTABLE: During its conference call discussing the quarter, Tiffany said that it sees a "healthy" increase in its full-year operating margin. The luxury company noted that it experienced continued softness in its U.S. silver sales during Q2 as well as softness in U.S. entry-level sales under $500. In its Japan division, the retailer foresees returning to single-digit sales growth, but noted that the unit has not experienced that so far in the first few weeks of this month. In Europe, the retailer said it is "still feeling" the effect of economic and currency related obstacles. Tiffany sees opening 10 stores throughout the rest of the year, which is lower than its original plan of opening 13, and plans to close three stores this year compared to its original target of closing four. Tiffany also sees a double-digit percentage marketing spend increase in the second-half of this year. ANALYST REACTION: Sterne Agee analyst Ike Boruchow said that as Tiffany continues to surpass expectations in its earnings reports, fashion jewelry in general is growing again and the company's latest "T" collection should quicken that category further. He feels that regardless of the few headwinds in Japan and Europe, the luxury company is still one of the most stable retail firms. Boruchow believes that the CEO transition from Michael Kowalski to Frederic Cumenal is likely to be a "smooth" one in March. The analyst keeps the stock at a Buy rating with a $100.77 price target. OTHERS TO WATCH: Other high end retailers include Signet Jewelers (SIG), Blue Nile (NILE), Nordstrom (JWN), Michael Kors (KORS), and Coach (COH). PRICE ACTION: During late-morning trading, Tiffany rose $1.32 or 1.31%, to $102.09.
10:36 EDTSHLDOptions with decreasing implied volatility
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August 26, 2014
11:23 EDTSHLDTRW September volatility elevated
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09:30 EDTMONGlobal Hunter Securities to hold meetings at farm show
Global Hunter Events at Farm Progress Show in Boone, Iowa on August 26-27.
09:25 EDTMONFarm Progress Companies to hold a show
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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
08:15 EDTMONMonsanto can execute another reinvention, says Citigroup
Citigroup believes Monsanto is reinventing itself like it did when Roundup went off patent in the late 1990's by using the cash flow from the seeds business to get into new growth areas. Citi thinks management can execute the transition but admits the stock may be range-bound over the near-term. The firm keeps a Buy rating on Monsanto with a $146 price target.
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 EDTSHLDSears falls after reporting Q2 loss that more than doubled analyst projections
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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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06:04 EDTSHLDSears reports Q2 EPS ($5.39), consensus ($2.63)
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August 20, 2014
15:17 EDTSHLDSears Holdings August weekly 36.5 straddle priced for 8.5% move into Q2
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12:07 EDTMONMonsanto expects to at least double year ongoing EPS by end of FY19
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12:03 EDTMONMonsanto says on track to deliver upper end of FY14 outlook
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August 19, 2014
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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