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Stock Market & Financial Investment News

News Breaks
February 28, 2014
10:33 EDTSODA, ANF, SPLK, YRCW, SHLDOptions with decreasing implied volatility: SHLD SPLK SODA YRCW ANF
News For SHLD;SPLK;SODA;YRCW;ANF From The Last 14 Days
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August 25, 2015
08:20 EDTSPLKSplunk August weekly volatility elevated into Q2 and outlook
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06:18 EDTSHLDSears names Lynn Pendergrass as Hardlines president
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August 24, 2015
10:32 EDTANFBattleground: Firms diverge on Abercombie ahead of earnings
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09:45 EDTANFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
09:19 EDTSPLKSplunk downgraded to Hold at Summit Research on expected tech correction
As previously reported, Summit Research analyst Srini Nandury downgraded Splunk to Hold from Buy. Nandury noted that the downgrade is not a call on the company's Q2 results, as he believes Splunk's momentum "continues unabated" and that its fundamentals are intact. However, the analyst tells investors this morning that he thinks tech stocks "are in for a major correction" and that "high flyers" like Splunk will see their multiples compress more than other tech names. Nandury cut his price target on Splunk shares to $50 from $84, stating that to remain at current levels, Splunk has to not only beat estimates "handily" but also must guide up "significantly."
09:18 EDTSPLKOn The Fly: Pre-market Movers
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08:10 EDTSPLKSplunk downgraded to Hold from Buy at Summit Research
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07:29 EDTANFAbercrombie & Fitch valuation sets up long-term opportunity, says Susquehanna
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06:45 EDTANFAbercrombie & Fitch upgraded to Overweight at Piper Jaffray ahead of earnings
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05:56 EDTANFStocks with implied volatility above IV index mean; ANF WMB
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August 21, 2015
08:06 EDTANFAbercrombie & Fitch August weekly volatility elevated into Q2 and outlook
Abercrombie & Fitch August weekly call option implied volatility is at 108, September is at 70, November is at 52; compared to its 52-week range of 28 to 71, suggesting large near term price movement into the expected release of Q2 results on August 26.
05:49 EDTANFStocks with implied volatility above IV index mean; ANF ATML
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August 20, 2015
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.
05:55 EDTANFStocks with implied volatility above IV index mean; ANF ATML
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August 18, 2015
12:54 EDTSHLDEarnings Watch: Analysts bullish on Lowe's ahead of Q2 earnings
Lowe's Companies (LOW), a home improvement retailer, is scheduled to report its second quarter earnings before the market open on Wednesday, August 19, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.24 on revenue of $17.27B, according to First Call. The consensus range for EPS is $1.21-$1.27 on revenue of $16.97B-$17.48B. LAST QUARTER: On May 20, Lowe's reported first quarter EPS of 70c on revenue of $14.13B, falling short of analysts' estimates of 74c and $14.28B, respectively. The company also said Q1 same-store sales rose 5.3% year-over-year. The company forecast fiscal year 2015 EPS of about $3.29 against estimates at the time of $3.31 and said it expects revenue to grow 4.5%-5%. Lowe's also forecast FY15 SSS to grow 4%-5% and added that it expected to open 15-20 home improvement and hardware stores in FY15. On its Q1 conference call, Lowe's forecast FY15 effective tax rate of approximately 38.1%, operating margin up 80-100 basis points, capital expenditures of roughly $1.4B, and cash flow from operations of approximately $5.1B. The company added that it continues to expect steady recovery within the housing market including positive trends in turnover and moderate home price appreciation. NEWS: On May 29, Lowe's announced that its board declared a 21.7% increase in its quarterly cash dividend to 28c per share, payable August 5 to shareholders of record as of July 22. On June 10, the company said at the Piper Jaffray Consumer Conference that it was seeing modestly improving wages and saw the income environment as constructive to the industry. It added that it was starting to see pickup from the bottom in housing and modest home price appreciation in 2015. At the Oppenheimer Global Consumer Conference on June 24, Lowe's said it was more focused on asset productivity than square footage, that it was contemplating new geographies, and that it expected to further capitalize on market opportunity in 2015. STREET RESEARCH: The day Lowe's reported Q1 earnings, Cantor Fitzgerald analyst Laura Champine lowered her price target for the company's shares to $68 from $75 due to lower-than-expected results. Cantor maintained its Hold rating on the stock. The same day, Bank of America Merrill Lynch said the company was still a top pick and reiterated its Buy rating, saying that, despite the Q1 earnings miss, it continued to expect Lowe's to benefit from investments. The day after Lowe's reported Q1 earnings, UBS said it believed the company's shares had room to run from at the time current levels. UBS reiterated its Buy rating for the company and lowered its price target to $82 from $83 on its shares. On June 8, Atlantic Equities initiated its coverage on Lowe's shares with a Neutral rating and a $79 price target. Exactly one week later, Wedbush upgraded Lowe's to Outperform from Neutral, saying it thought at the time that the company was benefiting from strong housing trends as well as Sears' (SHLD) increasing share losses, its previous investments, and macro tailwinds. Wedbush said the company will be a "winner" as long as interest rates remain low and increased its price target for the company's shares to $82 from $80. On June 30, BMO Capital upgraded Lowe's to Outperform and increased its price target to $81 from $73, citing expectations of stronger relative housing improvement and overall economic activity in Southeastern states, where Lowe's has a larger store footprint. BMO added that sales in the Pro segment could accelerate and potentially narrow the gap in comp-store sales with Home Depot (HD) if growth broadens in the coming months. On July 20, Deutsche Bank lowered its Q2 comparable sales and earnings estimates for both Lowe's and Home Depot below consensus to reflect "weak" industry data for building material, garden equipment, and supplies. Deutsche cut its Q2 comp estimate for Lowe's to 3.0% from 4.5% and earnings estimate to $1.23, below the consensus at the time of $1.25. Deutsche maintained its Buy rating on Lowe's stock. PRICE ACTION: Over the last three months, Lowe's shares are up fractionally. In early trading ahead of Wednesday's report, Lowe's are up over 1% to $73.34.
10:00 EDTANFOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abercrombie & Fitch (ANF) initiated with an Underperform at Wolfe Research... Abiomed (ABMD) initiated with a Buy at CRT Capital... Aeropostale (ARO) initiated with a Peer Perform at Wolfe Research... American Eagle (AEO) initiated with an Outperform, Top Pick at Wolfe Research... American Electric (AEP) initiated with a Buy at Mizuho... Benefitfocus (BNFT) initiated with an Overweight at First Analysis... Blue Buffalo Pet Products (BUFF) initiated with an Equal Weight at Morgan Stanley... Capitala Finance (CPTA) initiated with an Equal Weight at Stephens... Chico's (CHS) initiated with a Peer Perform at Wolfe Research... Children's Place (PLCE) initiated with an Outperform at Wolfe Research... Chimerix (CMRX) initiated with an Outperform at FBR Capital... Ciena (CIEN) initiated with a Market Perform at Northland... Crane (CR) initiated with an Outperform at William Blair... Entergy (ETR) initiated with a Neutral at Mizuho... Express (EXPR) initiated with an Outperform, Top Pick at Wolfe Research... Finisar (FNSR) initiated with a Market Perform at Northland... Francesca's (FRAN) initiated with a Peer Perform at Wolfe Research... Gap (GPS) initiated with an Underperform at Wolfe Research... Infinera (INFN) initiated with an Outperform at Northland... International Game (IGT) initiated with a Buy at Union Gaming... Juno Therapeutics (JUNO) initiated with an Outperform at FBR Capital... L Brands (LB) initiated with a Peer Perform at Wolfe Research... Luca Technologies (LUCA) initiated with an Outperform at Northland... Lumentum (LITE) initiated with an Outperform at Northland... M/A-COM (MTSI) reinstated with a Buy at Jefferies... MRV Communications (MRVC) initiated with an Outperform at Northland... Michael Kors (KORS) initiated with a Peer Perform at Wolfe Research... NN, Inc. (NNBR) initiated with a Buy at Stifel... NeoPhotonics (NPTN) initiated with an Outperform at Northland... Oclaro (OCLR) initiated with an Outperform at Northland... Scientific Games (SGMS) initiated with a Buy at Sterne Agee CRT... SolarCity (SCTY) initiated with a Neutral at UBS... Summit Materials (SUM) initiated with a Neutral at Citi... Tech Data (TECD) initiated with an Underperform at BofA/Merrill... Urban Outfitters (URBN) initiated with a Peer Perform at Wolfe Research... Zumiez (ZUMZ) initiated with an Underperform at Wolfe Research... lululemon (LULU) initiated with a Peer Perform at Wolfe Research.
09:49 EDTANFAbercrombie & Fitch falls to fresh multi-year lows
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08:46 EDTANFAbercrombie & Fitch confirms new leadership team for A&F brand
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05:55 EDTANFAbercrombie to create six new roles in management revamp, WSJ reports
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