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Stock Market & Financial Investment News

News Breaks
August 5, 2014
17:01 EDTGHC, CHGG, BLMN, GCI, TRBAA, ECOM, COH, TGT, AHC, MNI, SALE, WAGOn 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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November 19, 2014
08:03 EDTTGTTarget sees FY14 adjusted EPS $3.15-$3.25, consensus $3.19
Full-year 2014 GAAP EPS is expected to be (45) cents below Adjusted EPS, reflecting: Pre-tax early debt retirement losses, recognized in interest expense, of $285 million, or (27) cents per share; Year-to-date net pre-tax data breach expenses of $140 million, or (14) cents per share; Pre-tax impairment losses of $31 million, or (3) cents per share; Pre-tax expense of $13 million, or (1) cent per share, related to Targetís decision to convert existing co-branded cards to MasterCard chip-enabled cards in 2015, and; A (5)-cent per share impact related to the expected reduction of the beneficial interest asset, partially offset by; A benefit of 5 cents per share from the favorable resolution of various income tax matters. GAAP EPS guidance does not include an estimate of future data breach-related expenses, which are not expected to be material in any individual period.
08:02 EDTTGTTarget sees Q4 adjusted EPS $1.13-$1.23, consensus $1.22
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08:02 EDTTGTTarget reports Q3 U.S. segment SSS up 1.2%
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08:00 EDTTGTTarget reports Q3 adjusted EPS 54c, consensus 47c
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November 18, 2014
15:41 EDTTGTTarget November 67.5 straddle priced for 3.8% move into Q3
15:21 EDTTGTNotable companies reporting before tomorrow's open
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15:08 EDTTGTTarget technical comments ahead of results
The stock in the past three months has outperformed the broader averages, trading up over 14%. Most of that outperformance has been in recent days leading up to earnings. That move broke the shares out of a very narrow trading range that had persisted for two months. With the shares trading close to the 52-week high at $68.28, strong positive news or an upside surprise could propel the stock through that level and to the lifetime high at $73.50. A failure to break through the $70 area, particularly on a negative surprise, could leave the shares vulnerable to a larger than normal correction. On a long-term basis a failure at $70 would be a third attempt up that failed at resistance. Support levels to watch as potential downside objectives would be at $64.65, $61.46, and $59.57. The low of the range prior to the recent breakout was at $54.66, which is the 52-week low.
12:44 EDTTGTEarnings Preview: Target sees FY14 adjusted EPS view of $3.10-$3.30
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07:53 EDTTGTTarget November volatility elevated into Q3 and outlook
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07:23 EDTSALE, CHGGJefferies to hold a summit
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November 17, 2014
14:21 EDTTGTEarnings Preview: Home Depot shares up over 17% since last earnings report
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08:04 EDTAHCA.H. Belo announces resignation of CFO Alison Engel
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07:42 EDTTGTTarget looks to put massive breach in rear-view one year later, WSJ says
Encouraging signs are appearing for Target as the company looks to put its massive data breach in the rear view mirror about one year later as it reports earnings this Wednesday, said The Wall Street Journal's "The Week Ahead" column. Target shares are near 2014 highs after analysts have recently reported a pickup in foot traffic at its stores, the article noted. Reference Link
November 14, 2014
17:01 EDTGCIIcahn Associates gives quarterly update on stakes
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07:44 EDTTGTTarget November volatility elevated at 29 into Q3 and outlook
Target November call option implied volatility is at 29, December is at 21, January is at 16; compared to its 26-week average of 19 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 19.
07:21 EDTMNIBestinver Geston reports 9.86% passive stake in McClatchy
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November 13, 2014
16:35 EDTGHCGraham Holdings to spin off cable division
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14:50 EDTWAGLonestar Capital to shut down by mid-2015, WSJ reports
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14:45 EDTWAGLonestar capital to shut down, DJ reports
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07:38 EDTGCIBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
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