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Stock Market & Financial Investment News

News Breaks
August 5, 2014
17:01 EDTECOM, COH, TGT, AHC, MNI, SALE, WAG, GHC, CHGG, BLMN, GCI, TRBAAOn The Fly: Closing Wrap
Stocks on Wall Street opened in the red and moved in a fairly narrow range through the early part of the day, albeit in negative ground. Stocks gained downward momentum early in the afternoon after headlines circulated that Russia has sharply increased its military presence along its eastern border with Ukraine in the past few days. The market lost not only what it had gained back yesterday but added to its losses from last week. ECONOMIC EVENTS: In the U.S., Markit's services PMI dipped to 60.8 for the final July print from the 61.0 flash estimate for the month. A similar reading from ISM, its non-manufacturing index, climbed to 58.7 in July from June's 56.0 reading. Factory orders rebounded 1.1% in June, which was better than the expected 0.5% increase. COMPANY NEWS: Shares of Target (TGT) fell $2.67, or 4.4%, to $58.03 after the company lowered its forecast for earnings per share in the second quarter, excluding some items, to 78c from its previous guidance of 85c-$1.00. The company expects its comparable sales in the U.S. to be "essentially flat" and noted that discounts weighed on its margins as consumers continued to spend cautiously at the company's stores and focus on value. The retailer also estimated that the after-effects of its December 2013 data breach cost it $110M in the second quarter... Gannett (GCI) slid 45c, or 1.31%, to $33.87 after striking a deal to acquire the remaining 73% interest in Classified Ventures, whose primary asset is the online car shopping website Cars.com, for $1.8B from the other partners in the venture, which include McClatchy (MNI), Tribune Media (TRBAA), Graham Holdings (GHC) and A. H. Belo (AHC). Gannett also announced plans to spin-off its Publishing business, which includes USA Today, through a tax-free distribution to shareholders. MAJOR MOVERS: Among the notable gainers was Chegg (CHGG), which gained $1.21, or 20.54%, to $7.10 after reporting higher than expected quarterly results and that it formed a strategic alliance with Ingram Content Group, the world's largest book distributor. Also higher was Coach (COH), which rose $1.49, or 4.34%, to $35.80 after reporting earnings, excluding certain items, that beat expectations for its fiscal fourth quarter. Among the noteworthy losers was Walgreen (WAG), which slipped $2.99, or 4.15%, to $69.12 after Sky News said the company will announce as soon as tomorrow that it will pay "in the region" of GBP5B to acquire the remaining 55% stake in Alliance Boots that it does not already own, though is likely to also state that it intends to remain a U.S.-domiciled company and will not pursue a tax inversion. Early this morning the company also announced that sales in its comparable stores increased by 5.2% in July. Also lower following their earnings reports were RetailMeNot (SALE), which fell $7.15, or 28.26%, to $18.15, ChannelAdvisor (ECOM), which dropped $6.90, or 29.73%, to $16.31, and Bloomin' Brands (BLMN), which declined $4.75, or 23.98%, to $15.06. INDEXES: The Dow dropped 139.81, or 0.84%, to 16,429.47, the Nasdaq fell 31.05, or 0.71%, to 4,352.83, and the S&P 500 declined 18.78, or 0.97%, to 1,920.21.
News For TGT;GCI;WAG;COH;BLMN;SALE;ECOM;CHGG;MNI;TRBAA;GHC;AHC From The Last 14 Days
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April 16, 2015
09:04 EDTGCIGannett announces partnership with ViewLift
Gannett Co. announced an agreement with ViewLift, a full-service provider of custom video applications, to explore development of a new digital sports video service. This new entity will focus on streaming unique sports-related content and select, relevant movies across multiple devices Ė smartphones, tablets, televisions, and PCs.
05:55 EDTCOHCoach upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Joan Payson upgraded Coach to Overweight citing greater confidence in the designer's ability to grow domestic store comps with its turnaround "well underway." She expects Coach's competitive pressures to ease and raised her price target for shares to $50 from $38. The maker of handbags closed yesterday down 28c to $41.76. Payson also lowered her price target for shares of Michael Kors (KORS) to $60 from $70 and keeps an Equal Weight rating on the name. She believes Kors may soon be in need of transformation. The analyst keeps an Equal Weight rating on Tiffany (TIF), calling the company a "work in progress."
April 15, 2015
17:32 EDTTGTMasterCard reaches agreement with Target to resolve claims
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April 14, 2015
18:41 EDTTGTTarget close to $20M settlement with MasterCard over data breach, WSJ says
According to people familiar with the negotiations, Target (TGT) is approaching a settlement with MasterCard (MA) to reimburse financial institutions roughly $20M for costs they incurred from the retailerís massive data breach in 2013, The Wall Street Journal reports. Target is negotiating a separate settlement with Visa (V), according to sources, WSJ added. Reference Link
18:17 EDTTGTTarget close to $20M settlement with MasterCard over data breach, DJ says
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17:02 EDTCOHCrocs appoints Coach International Group president Ian Bickley to board
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10:42 EDTECOMChannelAdvisor off highs, still up 92c to $10.82
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10:38 EDTECOMChannelAdvisor trading resumes, shares up $1.76 to $11.66
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10:37 EDTECOMChannelAdvisor halted for volatility after jumping $1.35 to $11.25
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April 13, 2015
14:18 EDTTGTTarget names Anne Dament as SVP, Merchandising
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06:22 EDTTGTGap, Target, others scrutinized by NY AG over staffing practices, WSJ says
Several major retailer including Gap (GPS) and Target (TGT) are under investigation by New York Attorney General Eric Schneiderman over their staffing practices and whether they require workers to show up or stay home with little notice, The Wall Street Journal reports. Schneiderman sent letters warning Abercrombie & Fitch (ANF), JC Penney (JCP), Urban Outfitters (URBN), TJX Cos (TJX), Ann Inc (ANN), L Brands (LB), Burlington Stores (BURL), Sears Holdings (SHLD), Williams-Sonoma (WSM) and J Crew Group that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. Reference Link
April 10, 2015
05:24 EDTCOHCoach, InterparfumsSA sign global license agreement for Coach fragrance
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April 9, 2015
09:18 EDTCOH, TGTBofA/Merrill retail analysts hold an analyst/industry conference call
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07:05 EDTCOHCoach, Inter Parfums sign global license agreement for Coach fragrance
Inter Parfums (IPAR) announced that its majority owned Paris-based subsidiary, Interparfums SA, and Coach, Inc. (COH) have entered into an 11-year exclusive worldwide fragrance license agreement. Under the agreement, Interparfums will create, produce and distribute new perfumes and fragrance-related products, including new menís and womenís scents. Interparfums will distribute these fragrances globally to department and specialty stores and duty free shops, as well as in Coach retail stores beginning fall 2016.
April 7, 2015
09:23 EDTTGTFreshpet dry food product launched at Target, says Baird
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April 6, 2015
10:02 EDTGCIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AGCO (AGCO) downgraded to Sell from Hold at Deutsche Bank... CONSOL (CNX) downgraded to Hold from Buy at Deutsche Bank... Catamaran (CTRX) downgraded to Market Perform from Outperform at BMO Capital... Comerica (CMA) downgraded to Neutral from Buy at Guggenheim... Gannett (GCI) downgraded to Market Perform from Outperform at FBR Capital... Magnum Hunter (MHR) downgraded to Hold from Buy at Wunderlich... Qualcomm (QCOM) downgraded to Market Perform from Outperform at FBR Capital... Regions Financial (RF) downgraded to Neutral from Buy at Guggenheim... SAP (SAP) downgraded at Wells Fargo... Sanderson Farms (SAFM) downgraded to Underweight from Sector Weight at KeyBanc... Scorpio Tankers (STNG) downgraded to Neutral from Accumulate at Global Hunter... Simpson Manufacturing (SSD) downgraded to Neutral from Buy at DA Davidson... Skyworks (SWKS) downgraded at Stephens... TripAdvisor (TRIP) downgraded to Hold from Buy at Needham... Western Union (WU) downgraded to Neutral from Positive at Susquehanna... Zillow Group (Z) downgraded to Equal Weight from Overweight at Barclays.
10:02 EDTCOHOn The Fly: Analyst Upgrade Summary
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09:29 EDTCHGGChegg and Ingram Content Group sign agreement for renewable collaboration
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08:11 EDTCOHCoach upgraded to Market Perform from Underperform at Telsey Advisory
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06:34 EDTGCIGannett downgraded to Market Perform from Outperform at FBR Capital
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