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Stock Market & Financial Investment News

News Breaks
November 26, 2012
16:20 EDTARO, KCG, MHP, HOGS, FB, M, ZLC, EBAY, APO, TGTOn The Fly: Closing Wrap
Stocks on Wall Street were mixed on the day with the Nasdaq the only one of the major averages to finish in positive territory. Several major retailers, including Target (TGT) and Macy's (M), traded lower on the session, despite numbers out of the National Retail Federation indicating consumer spending increased 13% over the holiday weekend compared to a year ago... ECONOMIC EVENTS: In the U.S., the Dallas Fed manufacturing survey for November came in at -2.8, versus forecasts for a +2.5 reading. Also, Mary Schapiro stepped down as the head of the Securities and Exchange Commission and President Obama designated current SEC Commissioner Elisse Walter to take over the position. In Europe, the Bank of England named Mark Carney, who is currently the head of Canadaís central bank, as its next governor... COMPANY NEWS: McGraw-Hill (MHP) advanced 20c, or 0.40%, to $51.89 after confirming it reached a deal to sell its education business to Apollo Global Management (APO) for $2.5B... Shares of Facebook (FB) traded up $1.94, or 8.09%, to $25.94 after Bernstein upgraded the stock to Outperform and BTIG raised its rating on the name to Neutral... A CNBC report just after midday said that Knight Capital (KCG) was exploring a sale of the whole company, not just its market-making business, as had been reported earlier. The CNBC report said that the price being discussed for a sale of the company was in the $600M-$700M range and shares gained 33c, or 13.25%, to $2.82... MAJOR MOVERS: Among notable gainers were shares of eBay (EBAY), up $2.39, or 4.88%, to $51.40 after various reports indicated growth in "Cyber Monday" sales, including a note from ChannelAdvisor that said client sales on the site were up 57% from a year ago. Also higher were shares of Zhongpin (HOGS), up $1.64, or 15.10%, to $12.50 after after agreeing to a "go private" offer for $13.50 per share. Among the noteworthy losers was Aeropostale (ARO), which fell 68c, or 4.71%, to $13.77 following a downgrade to Neutral at Janney Capital. Also trading lower were shares of Zale (ZLC), down 25c, or 4.97%, to $4.78 as Bank of America Merrill Lynch removed the stock from its "Most Attractive Buy" list... INDICES: The Dow was down 42.31, or 0.33%, to 12,967.37; the Nasdaq was up 9.93, or 0.33%, to 2,976.78; and the S&P 500 was down 2.86, or 0.20%, to 1,406.29.
News For TGT;M;MHP;APO;FB;KCG;EBAY;HOGS;ARO;ZLC From The Last 14 Days
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November 12, 2014
07:37 EDTTGTTarget shares overvalued, says MKM Partners
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07:28 EDTAPOBofA/Merrill to hold a conference
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November 11, 2014
16:01 EDTFBOptions Update; November 11, 2014
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15:26 EDTFBYelp continues to gain traction in Local search, says Cowen
Cowen's checks indicate Yelp (YELP) continues to gain traction in Local search through Google (GOOGL) and Facebook (FB). The firm continues to see Yelp's Local ad revenue growing 60% in 2014 and believes the company will continue to beat numbers.
15:25 EDTMNotable companies reporting before tomorrow's open
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15:06 EDTMMacy's technical comments before earnings
The shares have been largely trading in a range of $55 at the low and $62 at the high in the year-to-date period. Ahead of results the shares are trading nearly in the middle of that range. Whether the news maintains the range or breaks it is the key. A move below $55 would be longer-term bearish, with the year-to-date price action becoming a clear topping pattern when viewed on a 5-year chart basis. Additional support levels below would be at $52.54 and $50.05. A move above $62 would be equally bullish, with the life high at $63.10 as next resistance. It would take a move above that life high to keep the shares on a bullish path. It is possible that the news won't be sufficiently strong to break the shares out, in which case the existing sideways trend channel would remain intact.
14:52 EDTMMacy's November 57.5 straddle priced for 5.8% move into Q3
12:09 EDTMEarnings Preview: Analyst says Macy's trends decelerated at back-end of Q3
Macy's (M) is scheduled to report third quarter earnings before the market open on Wednesday, November 12, with a conference call scheduled for 10:30 am ET. Macy's is a retailer that sell a range of merchandise, including apparel and accessories, cosmetics, home furnishings and other consumer goods. EXPECTATIONS: Analysts are looking for earnings per share of 50c on revenue of $6.34B, according to First Call. The consensus range for EPS is 46c-55c on revenue of $6.24B-$6.46B. LAST QUARTER: Macy's reported second quarter EPS of 80c on revenue of $6.23B, below estimates for 86c and $6.3B, respectively. Same-store sales, together with comparable sales of departments licensed to third parties, were up 4% from the prior year. Q2 comparable sales were up 3.4% vs. 2Q13. Macy's backed its fiscal year 2014 EPS guidance of $4.40-$4.50. The consensus for FY14 EPS at that time was $4.47. The retailer said its expectations for the second half of 2014 were "on track," with guidance for comparable store growth of 2%-3%. However, Macy's predicted FY14 SSS up 1.5%-2%, with FY14 comparable sales together with comparable sales of departments licensed to third parties up 2%-2.5%; previous guidance was for FY SSS up 2.5%-3%. NEWS: On its last earnings conference call, Macy's forecast fall season EPS of $3.04-$3.14 and said it expected Q3 SSS would be lower than fourth quarter SSS. The retailer also forecast second half total sales growth approximately 30 basis points lower than comp growth and gross margin rate "flat to down slightly" for the year. During the quarter, Macy's reached a resolution with the New York State Office of the Attorney General related to allegations of racial profiling in its New York stores. The retailer said it will launch same-day delivery this fall and announced plans to hire 86,000 seasonal associates for the 2014 holiday season. CNN said Macy's will open at 6pm on Thanksgiving Day. STREET RESEARCH: Cleveland Research said Macy's trends decelerated at the back-end of Q3, likely pressuring Q3 comp performance. The analyst expects promotional activity to pick-up in Q4 in order to capture share and traffic. ITG Research said in October that Macy's Q3 revenues were tracking to $6.25B. Northcoast upgraded Macy's to Buy from Neutral on November 5. PRICE ACTION: Over the last three months, Macy's shares are down 2%. The stock is trading down fractionally to $58.92 ahead of tomorrow's report.
09:37 EDTEBAYeBay October SSS up 4.4%, Amazon SSS up 32.4%, ChannelAdvisor says
ChannelAdvisor released October same-store sales data for eBay (EBAY) and Amazon (AMZN) in a blog post. The research company reported eBay's October SSS growth came in at 4.4%, down from September's 8.9% and below the e-commerce growth rate of about 15% reported by ComScore. Amazon's October SSS growth came in at 32.4%, which was a decrease compared to August's 37.9% rate, ChannelAdvisor stated. Reference Link
08:59 EDTMMacy's trends softened in back-end of Q3, says Cleveland Research
Cleveland Research said Macy's trends decelerated at the back-end of Q3, likely pressuring Q3 comp performance. The analyst expects promotional activity to pick-up in Q4 in order to capture share and traffic, and to offset the challenging Q3 performance. Shares are Buy rated.
08:15 EDTEBAYAlibaba says willing to collaborate with PayPal in future, Bloomberg reports
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07:49 EDTAROBofA/Merrill retail and consumer analysts hold analyst/industry conference call
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November 10, 2014
15:57 EDTEBAYWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
12:53 EDTFBFacebook says has over 50M monthly active users for Messenger
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10:48 EDTFBFacebook enhances users' control over News Feeds
Facebook on Friday announced that News Feed settings will now show a list of the top people, Pages and Groups that users have seen in their News Feeds over the past week. Users can choose to sort by people, Pages or Groups posts, or see an overall summary., the social network said. They can unfollow any friend, Page or Group if they donít want to see their stories in their News Feeds, Facebook added. Users can also see who theyíve unfollowed in the past and can choose to re-follow them at anytime, the company stated. If users see a story they're not interested in or donít want to see, they can tap the arrow in the top right of that story to hide it, Facebook said. Reference Link
10:04 EDTTGTOn The Fly: Analyst Upgrade Summary
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09:35 EDTFBActive equity options trading
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08:08 EDTTGTTarget upgraded at Stifel
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07:12 EDTMCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
05:54 EDTTGTTarget upgraded to Buy from Hold at Stifel
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