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Stock Market & Financial Investment News

News Breaks
August 20, 2014
12:37 EDTTGT, LOW, IRF, IFNNY, HTZ, SFLYOn The Fly: Midday Wrap
The market opened in negative territory, but within striking distance of the flat line. There was little in the way of major news that investors could use to push the market higher as they moved to the sidelines ahead of this afternoonís release of the minutes of last monthís FOMC meeting. After spending most of the morning mixed, the each of the major equity averages has crossed into positive territory, albeit just barely. The Fedís minutes will be released at 2:00 pm ET. ECONOMIC EVENTS: The Mortgage Bankers' Association Purchase Applications showed a week-over-week drop of -0.4% in the purchase index, but a 3% rise in the refinance index... The EIA Petroleum Status Report showed a 4.5M draw in oil inventories to 362.5M barrels during last week. COMPANY NEWS: Target (TGT) reported Q2 earnings that missed on the bottom line by 1c but beat slightly on the top line, and the company cut its FY14 EPS view to $3.10-$3.30 from $3.60-$3.90. Target is trading up over 1% in midday trading... Lowe's (LOW) reported better-than-expected Q2 earnings and said it sees FY14 EPS approximately $2.63, above the consensus of $2.61. Lowe's is trading up fractionally. MAJOR MOVERS: International Rectifier (IRF) is up 47% after being acquired by Infineon (IFNNY) for $40 per share in cash... Hertz (HTZ) is down more than 9% after the company withdrew its FY14 guidance, saying it expects to be "well below" the low end of the guidance... Shutterfly (SFLY) is up over 3% after Bloomberg reported that private equity firms are bidding on the company. INDEXES: Near midday, the Dow was up 33.38, or 0.2%, to 16,952.97, the Nasdaq was up 0.55, or 0.01%, to 4,528.07, and the S&P 500 was up 1.99, or 0.1%, to 1,983.59.
News For TGT;LOW;IRF;IFNNY;HTZ;SFLY From The Last 14 Days
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October 29, 2014
16:16 EDTSFLYShutterfly sees 2014 EPS (36c)-(9c), consensus (17c)
Sees 2014 revenue $905M-$920M, consensus $917.84M.
16:16 EDTSFLYShutterfly sees Q4 EPS $2.35-$2.60, consensus $2.54
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16:15 EDTSFLYShutterfly reports Q3 EPS ($1.20), consensus ($1.17)
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16:10 EDTIRFInternational Rectifier reports Q1 EPS 34c, consensus 33c
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October 28, 2014
13:55 EDTHTZThree car rental companies engage in 'constructive dialogue' with EC
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08:34 EDTHTZHertz opens new heavy industrial equipment facility in Missouri
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October 27, 2014
10:32 EDTTGTVeriFone rises after Barron's says Apple Pay positive for company
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08:32 EDTIRF, IFNNYInternational Rectifier announces expiration of HSR waiting period
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October 23, 2014
10:01 EDTIFNNYOn The Fly: Analyst Upgrade Summary
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06:10 EDTTGTTarget's Canadian unit experimenting with overstocking, Globe and Mail reports
As part of its turnaround effort, Target Canada is experimenting with overstocking items at its premier locations and retraining employees to create a service culture, the Globe and Mail reports. Reference Link
05:45 EDTIFNNYInfineon upgraded to Overweight from Neutral at HSBC
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October 22, 2014
12:42 EDTTGTTarget free shipping impact already in guidance, says Wells Fargo
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09:50 EDTTGTCredit Suisse to hold a field trip
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05:50 EDTTGTTarget announces partnership with STORY
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05:49 EDTTGTTarget announces plans for holiday shopping season
Target announced new initiatives for the holiday season centered on products, value and guest-friendly services; including new and enhanced digital tools and free shipping on all Target.com orders now through Dec. 20. With conversion on Targetís digital channels up 40% this year, guests are turning to Target.com for more of their shopping. To make it even easier for guests, for the first time, Target will offer free shipping on all Target.com orders for the holidays, now through Dec. 20. Additionally, more than 65,000 items are now available for Store Pickup on Target.com and 80% of orders are fulfilled within one hour, making it a convenient option for busy shoppers through Christmas Eve. Target will launch a Wish List app beginning Oct. 31; a modern and digital take on the classic tradition of creating holiday wish lists for parents and kids. Cartwheel will offer daily deals for its more than 10M users, and from Nov. 2-Dec. 24, Cartwheel will offer 50% off a different toy every day. The app will have new features for the holidays, including special deals for top users, personalized recommendations and a select number of popular offers that do not expire. For the third year, Target is extending the timeframe of its Price Match Policy for the holiday season beyond the typical seven day window.
October 21, 2014
14:09 EDTHTZThird Point discloses new positions in eBay, Alibaba, exit from Sony
In its Q3 investor letter, Third Point says it established a "significant" position in eBay (EBAY). Dan Loeb's hedge fund also revealed it has established a significant direct investment in Alibaba (BABA) shares now that the company is public. Third Point also said it is now one of Amgen's (AMGN) largest shareholders. During the quarter, Third Point exited its position in Sony (SNE) and reduced or exited other positions, including AIG (AIG), Hertz (HTZ) and Softbank (SFTBF), the firm stated in its letter. PRICE ACTION: Following the disclosures in the Third Point letter, Amgen is up 4%, eBay is up 2.3% and Alibaba is up 3.8%, while Sony shares trading in New York are down nearly 1%.
11:02 EDTHTZHertz, United Airlines upgrade partnership
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08:12 EDTHTZNissan selects Hertz as exclusive mobility partner
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06:22 EDTTGTStaples may be latest retailer to be hacked, Krebs reports
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October 20, 2014
08:58 EDTHTZJana Partners reports 7% stake in Hertz, says may engage in talks
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