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Stock Market & Financial Investment News

News Breaks
August 14, 2014
19:08 EDTJWN, CBI, AMAT, SINA, IDCC, KO, CHTR, JCP, WB, MNST, SUNE, ADSKOn 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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May 14, 2015
07:59 EDTADSKAutodesk June volatility elevated into Q1 and outlook
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07:44 EDTJCPJ.C. Penney Q1 beats on EBITDA despite sluggish sales, says UBS
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07:43 EDTIDCCB. Riley to hold a conference
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07:11 EDTJCPOptions expected to be active
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06:52 EDTJCPJ.C. Penney target upped to $15 after Q1 results at Piper Jaffray
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05:41 EDTIDCCInterDigital Europe and partners chosen by EC to conduct 5G research project
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May 13, 2015
16:50 EDTKOCoca-Cola Bottling signs LOI for major expansion of franchise territories
Coca-Cola Bottling (COKE) announced that it has signed a non-binding letter of intent with The Coca-Cola Company (KO) to further expand the company's franchise territory. The transactions proposed in the letter of intent would provide exclusive distribution rights for the company in territories located within Delaware, the District of Columbia, Illinois, Indiana, Kentucky, Maryland, North Carolina, Ohio, Pennsylvania, Virginia and West Virginia. This additional territory would include the following major markets: Baltimore, MD; Alexandria, Norfolk and Richmond, VA; Cincinnati, Columbus and Dayton, OH; Indianapolis, IN and Washington, D.C. Coca-Cola Refreshments USA, a wholly owned subsidiary of The Coca-Cola Company, currently serves these territories. The Company recently completed an expansion of its franchise distribution territory by acquiring sub-bottling distribution rights from CCR in parts of Tennessee, Kentucky and Indiana and continues to integrate these new territories which include major markets in Knoxville, TN, Louisville and Lexington, KY and Evansville, IN. The transactions proposed in the letter of intent are subject to the parties reaching a definitive agreement, with territory expansion closings expected to begin in the fall of 2015. There is no assurance, however, that any definitive agreement will be reached or that the closings of the proposed territory expansion transactions will occur.
16:39 EDTJCPJ.C. Penney gross margin helped by penetration of private brands
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16:34 EDTJCPJ.C. Penney saw slowdown in late April versus its expectations
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16:28 EDTJCPJ.C. Penney sees FY15 free cash flow breakeven
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16:26 EDTJCPJ.C. Penney reports Q1 gross margin 36.4%
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16:17 EDTKOCoca-Cola announces letters of intent with two U.S. bottling partners
The Coca-Cola Company has agreed in principle to grant additional expanded territories to Coca-Cola Bottling Co. Consolidated, which will assume markets in Delaware, the District of Columbia, Illinois, Indiana, Kentucky, Maryland, North Carolina, Ohio, Pennsylvania, Virginia and West Virginia. Additionally, The Coca-Cola Company has agreed in principle to grant expanded territories to a new expanding U.S. bottler, Clark Beverage Group, which will assume markets in Mississippi. “As we’ve shared before, we continue to align our U.S. operations with highly capable partners of all sizes that have consistently invested for growth,” said Sandy Douglas, President, Coca-Cola North America. “The announcement today with Coca-Cola Bottling Co. Consolidated and Clark Beverage Group reinforces our successful efforts to move forward with our refranchising plans in the U.S. as we implement a more agile, modern, customer-focused beverage partnership model.”
16:13 EDTJCPJ.C. Penney narrows FY15 SSS view to up 4%-5% from up 3%-5%
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16:09 EDTJCPJ.C. Penney reports Q1 EPS (57c), consensus (77c)
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15:15 EDTJCPJ.C. Penney May 9 straddle priced for 8.2% movement into Q1
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15:04 EDTJCPNotable companies reporting after market close
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12:54 EDTJCPEarnings Watch: J.C. Penney sees Q1 SSS up 3.5%-4.5%
J.C. Penney (JCP) is scheduled to report first quarter earnings after the market close on Wednesday, May 13, with a conference call scheduled for 4:30 pm ET. J.C. Penney operates about 1,100 retail stores and jcp.com. EXPECTATIONS: Analysts are looking for a loss per share of (77c) on revenue of $2.87B, according to First Call. The consensus range for EPS is (96c)-(61c) on revenue of $2.78B-$2.92B. LAST QUARTER: J.C. Penney reported fourth adjusted earnings per share of breakeven against estimates for 11c, on revenue of $3.89B against estimates for $3.87B. Comparable store sales were up 4.4%. The company forecast fiscal year 2015 SSS up 3%-5% and said it expected gross margin to improve 50 to 100 basis points versus 2014 and free cash flow to be flat. On its Q4 earnings conference call, the company said that it expected Q1 sales to be impacted less than 1% due to the West Coast port slowdown. NEWS: On March 17, AdAge said Chief Marketing Officer Debra Berman would leave the company immediately. Later that day, Bloomberg reported that General Cousnel Janet Dhillon would also leave the company, which was confirmed by J.C. Penney on March 20. On April 28, J.C. Penney appointed Mary Beth West as executive vice president and Chief Customer & Marketing Officer, effective June 1. In an April regulatory filing, J.C. Penney said it became aware that a senior company official "inadvertently sent an e-mail communication to a securities analyst that contained non-public information regarding the company’s comparable store sales results for Q1 to date, which are approximately 6%." The company said it expects Q1 SSS up 3.5%-4.5%, which takes into account the shift of Easter into March. The retailer said it would introduce Sephora to 25 additional stores starting on May 1. In April, New York Attorney General Eric Schneiderman sent letters warning J.C. Penney and other retailers that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. STREET RESEARCH: Following the release of J.C. Penney's Q4 results, Deutsche Bank said J.C. Penney remained a "show me story" until liquidity is improved. Craig-Hallum said J.C. Penney's 2015 gross margin outlook supports its view the company's 2017 financial targets are "unattainable." In March, JPMorgan raised its price target for the retailer to $10 from $8 and said management expressed confidence in the company’s ability to reach its 2017 EBITDA target of $1.2B. Baird said J.C. Penney's business is on "more stable footing," but believes meaningful free cash flow growth will be challenging. PRICE ACTION: Over the last three months, J.C. Penney shares are up over 7.45%. In early afternoon trading ahead of Wednesday's Q1 report, J. C. Penney is down 2.5% to $8.66.
08:05 EDTCBIChicago Bridge & Iron awarded contract for Rio Grande LNG project
CB&I has been awarded a contract by NextDecade LLC, for the front end engineering and design and engineering, procurement and construction terms related to the Rio Grande LNG export project in Brownsville, Texas.
07:25 EDTCBIUBS to hold a tour
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07:16 EDTCHTRMoffett Nathanson to hold a summit
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