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Stock Market & Financial Investment News

News Breaks
August 14, 2014
19:08 EDTSINA, WB, JWN, KO, MNST, CBI, CHTR, SUNE, AMAT, JCP, ADSK, IDCCOn The Fly: After Hours Movers
UP AFTER EARNINGS: SINA Corp (SINA), up 4%... Autodesk (ADSK), up 6%... J.C. Penney (JCP), up 3%... Applied Materials (AMAT), up 1.4%. UP AFTER 13F FILINGS: Sunedison (SUNE), up 2% after Greenlight boosted its stake... Charter Communications (CHTR), up 2.2% after Berkshire disclosed a stake... Chicago Bridge & Iron (CBI), up 3% after Berkshire raised its stake. ALSO HIGHER: Monster Beverage (MNST), up 21% after Coca-Cola (KO) announced a strategic partnership where it would take a 16.7% stake in the company, as well as swap certain brands with the energy drink maker. Coca-Cola is also trading higher by 1.4% after the announcement. LOWER AFTER EARNINGS: Nordstrom (JWN), down 3.6%... Weibo (WB), down 4.5%. ALSO LOWER: InterDigital (IDCC), down 3.2% after losing a patent case against Microsoft (MSFT).
News For SINA;ADSK;JCP;AMAT;SUNE;CHTR;CBI;MNST;KO;JWN;WB;IDCC From The Last 14 Days
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October 8, 2014
12:25 EDTJCPOn The Fly: Midday Wrap
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12:04 EDTJCPJ.C. Penney now sees Q3 SSS in low single digit range
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12:04 EDTJCPJ.C. Penney announces growth initiatves for 2015-2017
At its 2014 analyst meeting in New York City today, J. C. Penney Company presented its plans for restoring sustainable profitable growth at the Company over the next three years."JCPenney is in a far stronger position today than it was when we began our turnaround effort 18 months ago. While we recognize that there's more work to be done in a highly competitive retail environment, I couldn't be more encouraged by the significant progress our teams have made in such a short amount of time," said Myron E. Ullman, III, CEO. "I am confident that the initiatives we are putting in place will fuel new growth and earn greater customer loyalty as we pursue our vision to become the preferred shopping choice for Middle America." The Company is focused on attracting a new and younger customer by investing in popular in-store attractions that can only be found at JCPenney. To that end, the Company announced the expansion of its highly successful partnership with Sephora, as the companies have agreed to open additional Sephora inside JCPenney locations through 2017, entering new and smaller markets as the first major beauty destination in town. The Company also provided financial performance goals that include achieving $1.2 billion in EBITDA in 2017. This reflects expectations for top line improvements associated with incremental growth potential, as well as continued market share gains in its underlying business, which represents a $3.5B sales opportunity. Of that amount, the Company conservatively expects to realize approximately $2B in incremental sales over the next three years, resulting in mid-single digit sales growth during that period.
11:41 EDTJCPJ.C. Penney says store base count 'roughly' where it needs to be
Says evaluating stores to see if EBITDA accretive. Says "disciplined" regarding promotions. Says won't risk margin over promotions. Says Apple (AAPL), Samsung (SSNLF), Amazon (AMZN) taking "chunk" out of consumer spending. Sees returning to 37%-39% gross margins over time.
11:10 EDTJCPOptions with increasing implied volatility
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11:10 EDTJCPJ.C. Penney says succession planning remains 'top priority'
Sees SG&A dollars "roughly flat" over next three years. Sees CapEx averaging $250M-$300M per year.
11:06 EDTJCPJ.C. Penney says expects to be free cash flow positive in FY14
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11:05 EDTJCPJ.C. Penney falls 6%, halted for circuit-breaker after providing guidance
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11:03 EDTJCPJ.C. Penney now sees Q3 SSS up low single digits vs. previous guidance
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11:01 EDTJCPJ.C. Penney says has seen slow down in sales in September
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11:00 EDTJCPJ.C. Penney reaffirms all FY guidance metrics
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10:59 EDTJCPJ.C. Penney sees $14.5B in total sales by 2017
CFO Ed Record says focused on restoring profitability. Says since 4Q13, has had three straight quarters of sales growth. Sees opportunities to improve SG&A and gross margin. Sees $3.5B sales growth opportunity over next three years: Sees continued share growth a $1M opportunity over three years, center core a $1M opportunity, home store a $750M opportunity, omnichannel a $800M opportunity. Sees $1.2B EBITDA growth opportunity over next three years. Sees sales growth in mid single digits through 2017. Free cash flow over next three years "at least" $600M. Comments made at J.C. Penney's Analyst Day.
10:33 EDTJCPJ.C. Penney says seeing "significant" shift to mobile
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10:25 EDTJCPJ.C. Penney says home is $750M growth opportunity
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10:00 EDTAMATOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Buy from Neutral at Goldman... Applied Materials (AMAT) upgraded to Outperform from Underperform at CLSA... Bill Barrett (BBG) upgraded to Neutral from Underperform at Macquarie... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Calamos (CLMS) upgraded to Market Perform from Underperform at Keefe Bruyette... Calix (CALX) upgraded to Buy from Neutral at Goldman... Cimarex Energy (XEC) upgraded to Outperform from Neutral at Macquarie... Cogent (CCOI) upgraded to Outperform from Market Perform at Raymond James... Coty (COTY) upgraded to Neutral from Sell at B. Riley... Dassault Systemes (DASTY) upgraded to Equal Weight from Underweight at Barclays... EOG Resources (EOG) upgraded to Outperform from Neutral at Macquarie... Glu Mobile (GLUU) upgraded to Buy from Hold at Benchmark Co.... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Goodrich Petroleum (GDP) upgraded to Neutral from Underperform at Macquarie... Greif (GEF) upgraded at Wells Fargo... PHH Corp. (PHH) upgraded to Outperform from Market Perform at Keefe Bruyette... Parsley Energy (PE) upgraded to Outperform from Neutral at Macquarie... Rent-A-Center (RCII) upgraded to Buy from Neutral at Northcoast... Royal Gold (RGLD) upgraded to Overweight from Underweight at HSBC... Rush Enterprises (RUSHA) upgraded to Strong Buy at Raymond James... Sanchez Energy (SN) upgraded to Outperform from Neutral at Macquarie... Springleaf (LEAF) upgraded to Outperform from Neutral at Macquarie... TC PipeLines (TCP) upgraded to Neutral from Underweight at JPMorgan... Tesco (TSCDY) upgraded to Neutral from Underweight at HSBC... Vocera (VCRA) upgraded to Outperform at FBR Capital.
09:20 EDTJCPJ.C. Penney says will expand Disney stops in stores to 680 from 500
09:20 EDTJCPJ.C. Penney CEOsays will open more Sephora shops in store
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09:20 EDTJCPOn The Fly: Pre-market Movers
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08:18 EDTJCPJ.C. Penney CEO Ullman says customers remain cautious
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07:50 EDTAMAT, AMATApplied Materials upgraded to Outperform from Underperform at CLSA
CLSA upgraded Applied Materials to Outperform and said Tokyo Electron deal concerns are overdone and the company will not go through with the deal if it turns out to be dilutive. Additionally, CLSA said Applied Materials will benefit from the 2015 14/16nm FinFET capex cycle. Price target raised to $23 from $22.
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