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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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December 11, 2014
07:28 EDTWAGCBI to hold a summit
2nd Specialty Data Optimization Summit is being held in Philadelphia on December 11.
05:57 EDTBLMNBloomin' Brands to host analyst/investor day
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December 10, 2014
18:31 EDTWAGOn The Fly: After Hours Movers
UP AFTER EARNINGS: Restoration Hardware (RH), up 5.9%... Casey's General Stores (CASY), up 1.6%. ALSO HIGHER: Walgreen (WAG), up 1.7% after CEO Greg Wasson announces intention to retire after Alliance merger. DOWN AFTER EARNINGS: Wet Seal (WTSL), down 38.9%... Lakeland Industries (LAKE), down 8.2%... Men's Wearhouse (MW), down fractionally. ALSO LOWER: Burlington Stores (BURL), down 1.4% after filing to sell 8M shares of common stock for holders... Nielsen (NLSN), down 1.9% after filing to sell 20M shares of common stock for holders.
16:19 EDTWAGWalgreen CEO Greg Wasson announces retirement after Alliance merger
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11:41 EDTGCIGannett sees 2014 reported revenue up 16%, consensus $5.98B
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11:36 EDTGCIGannett sees Q4 EPS $1.00-$1.02, consensus $1.02
Gannett executives at the UBS Global Media and Communications Conference provided an update on the company's ongoing strategy and gave guidance. CFO Victoria Harker said, "Based on the trends we currently see, we estimate fourth quarter EPS to be in the range of $1.00 to $1.02."
10:00 EDTWAGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with an Underperform at Longbow... AutoZone (AZO) initiated with a Buy at Nomura... C.H. Robinson (CHRW) initiated with a Neutral at Nomura... CSX (CSX) initiated with a Buy at Nomura... CVS Health (CVS) initiated with a Neutral at Citigroup... Canadian National (CNI) initiated with a Neutral at Nomura... Carrizo Oil & Gas (CRZO) initiated with a Buy at Canaccord... CenterPoint Energy (CNP) initiated with a Neutral at Nomura... Con-way (CNW) initiated with a Neutral at Nomura... Cornerstone OnDemand (CSOD) initiated with a Buy at BofA/Merrill... Depomed (DEPO) initiated with an Outperform at RBC Capital... Dollar General (DG) initiated with a Buy at Citigroup... Dollar Tree (DLTR) initiated with a Neutral at Citigroup... Dynagas LNG (DLNG) initiated with a Buy at ABN Amro... EMC (EMC) initiated with a Neutral at JPMorgan... Energy Focus (EFOI) initiated with a Buy at Roth Capital... Expeditors (EXPD) initiated with a Neutral at Nomura... GasLog (GLOG) initiated with a Buy at ABN Amro... Genesee & Wyoming (GWR) initiated with a Neutral at Nomura... Golar LNG (GLNG) initiated with a Sell at ABN Amro... HII Technologies (HIIT) initiated with a Buy at Roth Capital... Hudbay Minerals (HBM) initiated with an Overweight at Barclays... J.B. Hunt (JBHT) initiated with a Buy at Nomura... Kansas City Southern (KSU) initiated with a Buy at Nomura... Kroger (KR) initiated with a Buy at Citigroup... Lear (LEA) initiated with a Buy at Northcoast... Lundin Mining (LUNMF) initiated with an Overweight at Barclays... NetApp (NTAP) initiated with a Neutral at JPMorgan... Norfolk Southern (NSC) initiated with a Neutral at Nomura... PROS (PRO) initiated with an Outperform at Pacific Crest... Qlik Technologies (QLIK)initiated with a Buy at BofA/Merrill... Rentokil (RTOKY) initiated with a Neutral at UBS... Revolution Lighting (RVLT) initiated with a Buy at Roth Capital... ServiceNow (NOW) initiated with a Buy at BofA/Merrill... Stratasys (SSYS) initiated with a Neutral at Longbow... Suburban Propane (SPH) initiated with a Hold at Stifel... Tableau (DATA) initiated with a Buy at BofA/Merrill... Teekay LNG (TGP) initiated with a Buy at ABN Amro... Tessera (TSRA) initiated with a Buy at Sidoti... Union Pacific (UNP) initiated with a Buy at Nomura... Viper Energy (VNOM) initiated with a Buy at Stifel... Visteon (VC) initiated with a Buy at Northcoast... Walgreen (WAG) initiated with a Buy at Citigroup... Werner (WERN) initiated with a Neutral at Nomura.
07:53 EDTGCIUBS to hold a conference
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07:39 EDTECOMBMO Capital to hold a conference
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06:18 EDTWAGWalgreen initiated with a Buy at Citigroup
Target $80.
December 9, 2014
10:23 EDTCOHOn The Fly: Analyst Initiation Summary
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10:23 EDTWAGOn The Fly: Analyst Downgrade Summary
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07:58 EDTECOMChannelAdvisor should benefit from strong e-commerce trends, says Pacific Crest
After conducting a consumer technology survey, Pacific Crest expects ChannelAdvisor to benefit from strong holiday e-commerce trends and growing demand for e-commerce tools. The firm expects the company to sustain revenue growth of at least 25%, and it recommends buying the shares.
07:32 EDTMNI, TRBAAUBS to hold a conference
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07:05 EDTCOHCoach initiated with an Equal Weight at Stephens
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06:11 EDTWAGWalgreen downgraded to Neutral from Buy at Mizuho
Mizuho downgraded Walgreen to Neutral based on limited EPS upside, sub-par base business organic growth, execution risk with Alliance Boots due to management turnover, international and currency risk, and valuation. Price target is $72.
December 8, 2014
11:59 EDTTRBAATribune Co. to host investor day
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11:30 EDTWAGLeerink generics pharmaceutical analyst holds analyst/industry conference call
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09:07 EDTMNIMcClatchy expects to have in excess of $200M in cash on hand at 2014 end
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07:23 EDTGHCUBS to hold a conference
42nd Annual Global Media & Communications Conference is being held in New York on December 8-10 with webcasted company presentations to begin on December 8 at 8 am; not all presentations may be webcasted. Webcast Link
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