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November 29, 2012
16:28 EDTBKS, BLOX, LQDT, WLL, USNA, KR, SVUOn The Fly: Closing Wrap
Stocks on Wall Street withstood some fiscal cliff related volatility to finish in positive territory. Some positive economic data, including better than expected pending home sales and an upward revision to Q3 GDP growth, contributed to the move higher but investors remained on edge and reacted with each new headline coming out of Washington... ECONOMIC EVENTS: In the U.S., weekly jobless claims dropped to 393,000, versus expectations for claims to fall to 390,0000. The Commerce Department revised its estimate for the gain in Q3 GDP to 2.7% from the previously reported 2% gain. Analysts expected growth to be revised to a 2.8% rate. However, within the report, Q3 consumer spending was lowered to a 1.4% growth rate from the 2% gain previously reported. Pending home sales rose 5.2% in October from the prior month, versus expectations for an increase of 1%... COMPANY NEWS: A Bloomberg report said that PE-firm Cerberus Capital Management's planned buyout of SuperValu (SVU) had stalled on financing concerns. Shares of SuperValu dropped sharply following the news, eventually closing down 52c, or 18.57%, at $2.28... A report from the Wall Street Journal said that Whiting Petroleum (WLL) had been exploring a sale but would no longer pursue that alternative. After a midday circuit-breaker halt, shares of Whiting settled down $1.34, or 3.17%, to $40.94... MAJOR MOVERS: Among the notable gainers was Infoblox (BLOX), up $4.12, or 29.53%, to $18.07 after its earnings beat consensus estimates. Also higher were shares of Kroger (KR), up $1.19, or 4.75%, to $26.25 after the company reported earnings and provided guidance that beat Street forecasts. Among noteworthy losers were Liquidity Services (LQDT), down $5.90, or 13.49%, to $37.83, and Barnes & Noble (BKS), down $1.79, or 11.15%, to $14.26, after their earnings reports. Also lower were shares of Usana Health Sciences (USNA), down $2.44, or 5.60%, to $41.17 after a report from short-selling blog Citron Research which said the company is the subject of criminal probes in China... INDICES: The Dow was up 36.71, or 0.28%, to 13,021.82; the Nasdaq was up 20.25, or 0.68%, to 3,012.03; and the S&P 500 was up 6.02, or 0.43%, to 1,415.95.
News For SVU;WLL;BLOX;KR;LQDT;BKS;USNA From The Last 14 Days
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October 8, 2015
10:00 EDTBKSOn The Fly: Analyst Initiation Summary
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October 7, 2015
18:23 EDTBKSBarnes & Noble initiated with a Buy at Cantor
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12:31 EDTUSNANu Skin plummets after cutting Q3 revenue outlook
Shares of Nu Skin (NUS), a global direct selling company, are sinking after the company lowered its third quarter revenue outlook. WHAT'S NEW: Tuesday after the bell, Nu Skin lowered its Q3 revenue view to $570M-$573M from $600M-$620M, well below analysts' consensus estimates of $621.55M. Foreign currency headwinds associated with the strengthening of the U.S. dollar negatively impacted revenue by more than $60M compared to the prior-year period. The revised revenue range is expected to represent continued improvement on a sequential basis, and the company continues to forecast constant-currency revenue growth in the fourth quarter of 2015 versus the prior year. WHAT'S NOTABLE: Truman Hunt, Nu Skin's Chief Executive Officer, noted, "Third quarter results were impacted by lower-than-expected sales of our new cosmetic oils in China during August and September, which may be a reflection of economic conditions in China." Hunt continued, "Our third quarter results will be in-line with expectations, with the exception of the Greater China region. Revenue growth in the third quarter was particularly strong in South Asia/Pacific, where our first introduction of ageLOC Youth drove more than 20% growth in that region, or more than 40% on a constant-currency basis. Given the successful launch of ageLOC Youth in South Asia/Pacific, we look forward to the introduction of ageLOC Youth as well as ageLOC Me in most of our regions during the fourth quarter. We forecast year-over-year constant-currency revenue growth of between 7%-10% in the fourth quarter." ANALYST REACTION: Sentiment on the Street was cautious at midday. Research firm Stifel downgraded Nu Skin to Sell from Hold, citing the company's negative pre-announcement and its deteriorating trends in Greater China. Its price target for shares is $35. Another firm, Canaccord, noted that NuSkin pre-announced revenue numbers that were below guidance, which suggests softer trends in China and the long awaited sustainable turn in momentum has failed to materialize. The firm expects a new product cycle to help support the return to growth. Canaccord maintained its Hold rating and lowered its price target to $45 from $48 on NuSkin shares. PRICE ACTION: In midday trading, Nu Skin fell $12.13, or about 26%, to $34.45 on about six times its average daily trading volume. OTHERS TO WATCH: Other companies in the direct selling business include Herbalife (HLF), down 9.2%, Estee Lauder (EL), down fractionally, USANA Health Sciences (USNA) down 8.4%, Avon Products (AVP) up almost 8%, and Tupperware Brands (TUP), up 2.5%.
09:36 EDTKRUnited Natural Foods poised to win Kroger business, says Cleveland Research
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08:35 EDTBKSBarnes & Noble expands NOOK by Samsung lineup
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October 5, 2015
07:17 EDTWLLIndependent Petroleum Association of America to hold a conference
IPAA--OGIS is being held in San Francisco on October 5-6.
October 1, 2015
16:15 EDTSVUSupervalu announces CEO Sam Duncan intends to retire
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September 25, 2015
17:02 EDTLQDTLiquidity Services to divest Jacobs Trading to Tanager Acquisitions for $17M
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September 24, 2015
11:05 EDTBKSSEC charges G Asset Management over Barnes & Noble press release
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