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Stock Market & Financial Investment News

News Breaks
May 7, 2014
06:20 EDTBONT, LB, HSNI, GPS, TGTTarget seeks to find new CEO from outside firm, Bloomberg says
Target's (TGT) board is looking for a new CEO from an outside firm to replace Gregg Steinhafel and potential candidates for the job include HSN Inc. (HSNI) CEO Mindy Grossman, Bon-Ton Stores (BONT) CEO Brendan Hoffman, Gap's (GPS) leader Glenn Murphy and Victoria’s Secret CEO Sharen Turney. Victoria Secret is a L Brands (LB) company. Reference Link
News For TGT;HSNI;BONT;GPS;LB From The Last 14 Days
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September 3, 2015
16:05 EDTGPSGap reports August SSS down 2%
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12:23 EDTLBOn The Fly: Top stock stories at midday
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09:43 EDTTGTFly Watch: 'Force Friday' seen awakening shares of Disney, Hasbro
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07:02 EDTLBL Brands reports sales of $6.1B for 30 weeks ended August 29, 2015
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07:02 EDTLBL Brands reports August net sales $826M, comparable store sales up 6%
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September 2, 2015
06:22 EDTLBNew Balance to enter 'athleisure' sector, Business Insider reports
New Balance is launching a new "athleisure" line and is planning to mail a catalog to more than 1M U.S. women, Business Insider reports, citing comments from Norma Delaney, head of global marketing for NB Women. The line will compete with offerings from Lululemon (LULU), Under Armour (UA), Victoria's Secret (LB) and Dick's Sporting Goods (DKS). Reference Link
September 1, 2015
18:01 EDTTGTTarget to serve alcohol in Chicago store, Fortune says
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11:45 EDTTGTTarget cuts nearly 240 tech-related jobs in Twin Cities, Star Tribune says
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05:30 EDTBONTBon-Ton Stores price target lowered to $2 from $4 at Imperial Capital
Imperial Capital analyst Mary Ross Gilbert cut her price target in half for Bon-Ton Stores to $2 citing the company's "disappointing" Q2 results and lowered FY15 outlook. She keeps an Underperform rating on the stock.
August 26, 2015
20:03 EDTGPSGap to stop on-call shifts by late September
In a company blog post published Wednesday, Gap announced a commitment to eliminate the use of on-call shifts across the organization. The work began earlier in the summer, said the company, and all five brands have aligned on a complete phase-out of this practice by the end of September. Additionally, each of Gap's brands has committed to improving scheduling policies to provide store employees with at least 10-14 days notice. The majority of brands will be rolling out these new policies in September, and all Gap brands are committed to phasing in advanced schedules by early 2016. Reference Link
07:33 EDTBONTBon-Ton Stores opens 743,000 square foot fulfillment center in Ohio
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August 25, 2015
16:01 EDTTGTTarget sees $550M pretax gain after closing CVS transaction
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14:55 EDTHSNIHSN, Inc. upgraded to Buy from Neutral at Sidoti
07:15 EDTHSNILiberty Interactive, HSN weakness a buying opportunity, says Brean Capital
Brean Capital said the pullback in both HSN, Inc. (HSNI) and Liberty Interactive (QVCA) has created a buying opportunity and the firm recommends investors take advantage of the weakness. Brean Capital cited little or no exposure to China, strong fundamentals and excellent management. Brean Capital reiterated its Buy rating and $81 price target on HSN, Inc. and Buy rating and $37 price target on Liberty Interactive shares.
August 24, 2015
15:01 EDTTGTWyndham slips after FTC given go-ahead for data breach lawsuit
Shares of Wyndham (WYN) have slipped in afternoon trading after an appeals court ruled that the FTC can sue the company over its allegedly poor cybersecurity practices. WHAT'S NEW: According to a Reuters report of court proceedings, the 3rd U.S. Circuit Court of Appeals in Philadelphia has ruled that the FTC may proceed with its lawsuit against Wyndham over data breaches in 2008 and 2009, saying the hotel company failed to take reasonable steps to protect customer information. Wyndham's allegedly lackluster data protection policies constitute "unfair and deceptive trade practices," granting the Federal Trade Commission authority to step in, said Judge Thomas Ambro. FTC Chairwoman Edith Ramirez commented, "It is not only appropriate, but critical, that the FTC has the ability to take action on behalf of consumers when companies fail to take reasonable steps to secure sensitive consumer information," according to the report. WHAT'S NOTABLE: Today's ruling comes in the wake of numerous high-profile "hack attacks," with American Airlines (AAL), Anthem (ANTM), United Airlines (UAL) and Target (TGT) all reporting digital security breaches in recent years. Though no final verdict has been reached in the case between the FTC and Wyndham, Judge Ambro may have established the beginnings of a legal precedent potentially allowing the Commission to sue companies for not going far enough to protect consumer data and Chairwoman Ramirez appeared to share that broader tone. PRICE ACTION: Shares of Wyndham are down about 4% in intraday trading. Cybersecurity firms FireEye (FEYE) and Palo Alto Networks (PANW) are down roughly 2% and 2.7% for the afternoon.
13:17 EDTTGTTarget to pay $2.8M to resolve EEOC discrimination finding
Target has agreed to pay $2.8M to resolve a Commissioner's charge of discrimination which was investigated in the Minneapolis Area Office of the U.S. Equal Employment Opportunity Commission, or EEOC. Based on the investigation, EEOC found reasonable cause to believe that three employment assessments formerly used by Target disproportionately screened out applicants for exempt-level professional positions based on race and sex. The tests were not sufficiently job-related and consistent with business necessity, and thus violated Title VII of the Civil Rights Act of 1964, EEOC found. In addition, EEOC found that one of the assessments Target formerly used in its hiring process also violated the Americans with Disabilities Act. The EEOC determined that this particular assessment performed by psychologists on behalf of Target was a pre-employment medical examination. Employers are prohibited by the ADA from subjecting applicants to medical examinations prior to an offer of employment. EEOC found that Target also committed record-keeping violations by failing to maintain records sufficient to assess the impact of its hiring procedures. EEOC's investigation revealed that thousands were adversely affected when Target used these assessments in its hiring process. The monetary settlement will be divided among these individuals as appropriate. Target will pay for a claims administrator to distribute the funds.

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