New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 10, 2014
08:17 EDTINTC, TGTMcAfee says off-the-shelf malware contributed to credit card breaches
McAfee, in its fourth quarter report on security threats, outlined how attackers purchased off-the-shelf point-of-sale malware to perpetrate the "headline-grabbing" credit card data breaches that occurred this quarter, most prominently highlighted by the one at Target (TGT). McAfee also says in its report that mobile malware continues to grow, with 2.47M new samples collected in 2014. McAfee is a division of Intel (INTC). Reference Link
News For TGT;INTC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
May 19, 2015
12:47 EDTTGTEarnings Watch: Target sees FY15 adjusted EPS $4.45-$4.65, 2%-3% sales growth
Target (TGT) is scheduled to report first quarter results before the market open on Wednesday, May 20, with a conference call scheduled for 10:30 am ET. Target offers merchandise at discounted prices through its retail stores and online business. EXPECTATIONS: Analysts are looking for earnings per share of $1.03 on revenue of $17.09B, according to First Call. The consensus range for EPS is 85c-$1.09 on revenue of $16.98B-$17.25B. LAST QUARTER: Target reported fourth quarter adjusted EPS of $1.50 on revenue of $21.75B, beating analysts' estimates for $1.46 and $21.63B, respectively. The company said comparable sales increased 3.8% in Q4, reflecting a 3.2% increase in comparable transactions. Target said digital channel sales contributed 0.9 percentage points to SSS growth. Target forecast Q1 adjusted EPS 95c-$1.05, SSS up about 2% and said its top priority is to drive digital sales growth. The company said it could be in a position to revisit stock buybacks later this year and noted that its workers' wages are "competitive." NEWS: At its Financial Community Meeting on March 3, Target forecast fiscal year 2015 adjusted EPS $4.45-$4.65, against estimates at that time for $4.50, on sales growth of 2%-3% for the fiscal year. The company also forecast 10% annual EPS growth for 2016 and beyond, as well as 5%-10% annual dividend growth. Target forecast $2B in savings in expenses and cost of goods over the next two years and 9.5%-10% EBITDA margins over the next five years. As for share repurchases, Target sees $2B this year, and said it continues to support the dividend and repurchase "billions." Looking to FY15, Target forecast FY15 capital expenditures of $2.1B and sees expected CapEx of $2B-$2.5B over the next five years. Target said its gross margin rate of 29.5% is "achievable." Target said it would focus on categories including style, baby, kids and wellness. As part of its $2B cost savings plan, Target said it will cut "several thousand jobs." Target said in a filing that on March 10, the company notified approximately 1,700 employees whose employment will be terminated as part of an overall plan to transform Target’s business. The company said it expects to incur severance costs of $10M. During the quarter, Target said it planned to raise its minimum pay for all workers to at least $9 an hour starting in April, according to The Wall Street Journal, and agreed to pay $10M to settle a class action lawsuit related to its 2013 data breach, Reuters reported. Target reached a settlement with MasterCard (MA) to resolve claims by MasterCard and its issuers related to the retailer’s 2013 data breach. Under the agreement, Target will make available up to $19M in alternative recovery offers to eligible banks and credit unions across the globe. Target Canada said it would close the last 133 retail stores by April 12. Target also announced plans to sell its Target Commercial Interiors subsidiary to Omni Workspace. The retailer launched the Lilly Pulitzer for Target collection in April, which rendered its website inaccessible for short time after it was overwhelmed by customer traffic, The WSJ said. The WSJ also reported that, according to sources, Target gave notice to Campbell Soup (CPB), General Mills (GIS), Kellogg (K), Kraft Foods (KRFT) and others that it will reduce their presence in Target circulars and in-store advertisements. STREET RESEARCH: Following Target's analyst meeting, Wells Fargo said it thinks the company's operating plan sets the stage for the company to potentially beat expectations in 2015 and beyond. The firm believes that"outsized digital growth" or new products could enable Target's results to beat expectations. Piper Jaffray views Target's long term earnings algorithm, which is based on a 1% store comp and 40% growth in digital sales annually, as realistic and the company's capital deployment as encouraging. BofA/Merrill upgraded Target to Buy from Neutral in April and increased its price target to $92 from $86. The firm believes Target is well positioned to benefit from an improving middle-income core customer base. The firm said customers are responding well to improved assortment and merchandising and expects Target to continue to see increased spending at stores and online as customers trade-up to more expensive items. PRICE ACTION: Target shares are up over 1.6% over the past three months. In early afternoon trading ahead of Wednesday's earnings report, shares are down 0.51% to $77.96.
11:15 EDTINTCAnalyst says Intel takeover of Altera more likely than not
Citi, in a note to investors today, said that the chances of Altera (ALTR) being acquired by Intel (INTC) were greater than 50%. The note comes after multiple news outlets reported yesterday that the two companies have resumed talks about Intel buying the smaller chip maker. ANALYST REACTION: News reports suggest that the odds of Intel buying Altera seem to have increased, wrote Citi analyst Christopher Danely. A deal is more likely to occur than not, according to the analyst. However, he does not believe that the transaction is a done deal. Moreover, the analyst kept a Neutral rating on Intel shares, saying that he does not anticipate changing his rating even if a takeover is consummated. In its own note on Altera this morning, Pacific Crest said it views the breakdown in Dennard scaling and Dark Silicon as an underappreciated positive for the maker of field-programmable gate arrays. The firm sees fair value for Altera at $55-$60 and still thinks that an acquisition by Intel makes sense strategically. PRICE ACTION: In late morning trading, Altera added 0.5% to $47.16, while Intel fell 1% to $33.06.
09:17 EDTINTCAltera has 'underappreciated' positive catalyst, says Pacific Crest
Subscribe for More Information
08:34 EDTINTCApple introduces 15-inch MacBook Pro with Force Touch trackpad
Subscribe for More Information
08:33 EDTINTCMorgan Stanley cautious in near-term on PC names
Morgan Stanley is more cautious on PC names near-term, given PC and HDD inventory builds quarter-to-date and weaker April ODM sales. The firm's analyst team continues to believe Q1 was a bottom in year-over-year growth, but now expects normal Q2 seasonal growth instead of above normal and thinks any recovery will likely be delayed until Q3. Morgan Stanley is cautiously optimistic on Western Digital (WDC) due to its diverse revenue drivers, sees value creation catalysts for Hewlett-Packard (HPQ) and believes Microsoft (MSFT) shares reflect the challenging PC market and Win 10. The firm is more cautious on semis such as NVIDIA (NVDA) given higher valuations, share loss at Advanced Micro (AMD), potential 2H margin pressure at Intel (INTC), and Morgan is cautious on PC DRAM stocks near-term due to weaker pricing.
06:10 EDTINTCCiti sees over 50% chance of Intel buying Altera
Subscribe for More Information
May 18, 2015
12:51 EDTINTCOn The Fly: Top stock stories at midday
Subscribe for More Information
10:40 EDTINTCIntel, Altera held principal to principal talks late last week, Faber says
Subscribe for More Information
09:11 EDTINTCIntel, Altera held 'principal to principal' talks last week, CNBC reports
Subscribe for More Information
07:06 EDTINTCAltera back in talks with Intel about potential takeover, NY Post says
Subscribe for More Information
May 17, 2015
19:11 EDTTGTTarget to reduce advertising space for certain large brands, WSJ says
Subscribe for More Information
May 15, 2015
06:13 EDTINTCISS, Glass Lewis advise Intel investors to vote 'no' on eBay CEO, WSJ reports
ISS and Glass, Lewis & Co, two influential proxy advisory firms, are recommended Intel (INTC) investors vote against the reelection of eBay (EBAY) CEO John Donahoe to the company's board, The Wall Street Journal reports. Citing what it characterized as a poor attendance record, Glass Lewis commented "We view this as a failure by this director to fulfill a fundamental responsibility to represent shareholders at such meetings," while ISS said Donahoe "lacked a valid excuse" for attending less than 75% of the meetings held by the Intel board and committees he serves on in 2014. Intel's annual shareholders meeting is scheduled for May 21. Reference Link
May 14, 2015
14:32 EDTTGTTarget to sell commercial interiors subsidiary to Omni Workspace
Subscribe for More Information
May 13, 2015
14:05 EDTTGTTarget May weekly volatility elevated into Q1 and outlook
Target May weekly call option implied volatility is at 26, June is at 21, July is at 19; compared to its 90-day average of 19, suggesting large price movement into the expected release of Q1 results on May 20.
07:32 EDTINTCCLSA to hold a conference
Subscribe for More Information
May 12, 2015
12:04 EDTINTCIntel, eASIC collaborate on customized Intel-based solutions for the Cloud
Intel Corporation announced plans to develop integrated products with eASIC Corporation that combine processing performance and customizable hardware to meet the increasing demand for custom compute solutions for data centers and the “cloud.” The new parts will enable acceleration of up to two times that of a field programmable gate array for workloads like security and big data analytics while also speeding the time to market for custom application specific integrated circuit development by as much as 50 percent.
07:51 EDTINTCDeutsche Bank to hold a conference
Subscribe for More Information
May 11, 2015
09:01 EDTTGTLowe's acquires leases of 13 former Target stores in Canada
Subscribe for More Information
06:32 EDTINTCIntel management to meet with FBR Capital
Meetings to be held in Boston/New York May 11-14 hosted by FBR Capital.
May 10, 2015
17:45 EDTTGTJudge allows $19M Target data breach settlement to move ahead, Reuters says
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use