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February 4, 2014
06:49 EDTTGT, NXPIU.S. should adopt chip-enabled smartcards, Target CFO writes in The Hill
The U.S. should adopt chip-enabled smartcards, and Target is accelerating its $100M investment in the technology in an effort to implement it, Target's CFO, John Mulligan, wrote in a column published by The Hill yesterday afternoon. Reference Link
News For TGT;NXPI From The Last 14 Days
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November 18, 2015
10:47 EDTTGTTarget sees Apple Watch to be top gift in wearable category in holiday season
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10:43 EDTTGTTarget says wearable devices bright spot in electronics in Q3
CEO Brian Cornell says "strategy working." Says consumers spending cautiously, but says "confident" heading into the holiday season. says sales in signature categories growing much faster than overall sales. Notes that traffic has turned positive over last four quarters. Reports continued softness in tablets in Q3, says wearable devices a bright spot in electronics. Says Q3 softness in electronics "particularly impactful" online. Comments taken from the Q3 earnings conference call. Target is down 6.03% to $68.51 in morning trading.
09:43 EDTTGTTarget drops after earnings
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08:31 EDTNXPINXP Semiconductors removed from US 1 List at BofA/Merrill
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08:14 EDTNXPINXP Semiconductors added to Top Pick list at FBR Capital
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08:05 EDTTGTTarget reports Q3 SSS up 1.9%
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08:04 EDTTGTTarget says returned $1.3B to shareholders in Q3
08:04 EDTTGTTarget narrows FY15 adjusted EPS view to $4.65-$4.75 from $4.60-$4.75
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08:03 EDTTGTTarget sees Q4 adjusted EPS $1.48-$1.58, consensus $1.54
08:02 EDTTGTTarget narrows FY15 adjusted EPS view to $4.65-$4.75 from $4.60-$4.75
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08:00 EDTTGTTarget reports Q3 adjusted EPS 86c, consensus 86c
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November 17, 2015
15:17 EDTTGTTarget November 73 straddle priced for 6% movement into Q3
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15:13 EDTTGTNotable companies reporting before tomorrow's open
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12:53 EDTTGTEarnings Watch: Analysts bullish on Target's Q3 comps ahead of earnings report
Target (TGT) is scheduled to report third quarter results before the market open on Wednesday, November 18, 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 86c on revenue of $17.57B, according to First Call. The consensus range for EPS is 81c-89c on revenue of $17.42B-$17.76B. In its last earnings report, Target forecast Q3 adjusted EPS 79c-89c Q3 comparable sales up 1%-2%. LAST QUARTER: Target reported second quarter adjusted EPS of $1.22, beating analysts' estimates for $1.11, on revenue of $17.43B, generally in line with analysts' $17.4B consensus. The company said comparable sales increased 2.4% in Q2. Looking ahead, Target raised its fiscal year 2015 adjusted EPS view to $4.60-$4.75 from $4.50-$4.65 against estimates at that time for $4.62. On its earnings conference call, Target said it felt "great" about its fourth quarter plans and said it will be "very promotional" in that quarter. NEWS: On August 25, Target said it expects to record a pretax gain of approximately $550M after closing the transaction with CVS Pharmacy (CVS) to sell its pharmacy and clinic businesses for cash consideration of approximately $1.9B. Target also entered into a development agreement with CVS, through which it may jointly develop small-format stores, Target said. The transaction is expected to be accretive to EPS after closing. On September 10, Cherokee (CHKE) announced that Target elected not to renew the license of the Cherokee brand in the U.S., which will expire at the end of its current term on January 31, 2017. Target said on September 30 that it will update its Price Match Policy by expanding digitally and extending its timeframe to 14 days compared to 7 days. The retailer later announced plans to bring back free shipping and returns through the holiday season. STREET RESEARCH: Ahead of the company's earnings report, Piper Jaffray analyst Sean Naughton acknowledged that while sentiment is challenging on Target's stock amid the weakness being reported by a number of retailers this week, he believes Target's Q3 SSS are within the company's guidance of up 1%-2%. The analyst believes Target's fundamentals may be holding up better than some expected. He has an Overweight rating and $88 price target on the stock. Stifel also believes Target will report an above Street comp of 2% versus consensus of 1.7% and inline earnings of 86c. Analyst David A. Schick checks indicate strong merchandising and customer response to key holidays and said PCE trends suggest there is still room for comp upside. Last week, Citi analyst Kate McShane said that in a head-to-head comparison between Costco Wholesale (COST), Target and Wal-Mart Stores (WMT), three of the biggest broadlines retailers in the world, Target is the "surprising" winner. McShane said that Target "wins" on potential for EPS growth, operating margin and valuation. PRICE ACTION: Target shares are down over 7% over the past three months. In early afternoon trading ahead of Wednesday's earnings report, shares are up about 1.7% to $73.54.
09:02 EDTTGTAnalyst pans competing products, says buy Fitbit
Shares of previous high-flier Fitbit (FIT) have dropped about 30% in the last two weeks following the company's third quarter earnings report, but an analyst at Bank of America upgraded his view of the fitness tracker maker this morning, saying that now is the time to buy ahead of fourth quarter results that may be boosted by the "underwhelming" new products being launched by its competitors. UNDERWHELMING COMPETITION: Fitbit's sales guidance for this holiday quarter looks conservative, contends Bank of America analyst Nat Schindler, who notes that the company only had the launch of one new product last December but will have the Charge, Charge HR and Surge to drive sales this season. Schindler also notes that the company's international advertising has expanded into more countries ahead of the holidays this year. Key, however, may be the "underwhelming" lineup of new or updated fitness trackers launched by competitors, such as the Microsoft's (MSFT) Band 2, Jawbone's UP4 and Sony's (SNE) Smartband 2, many of which have only minor improvements and no "must have" features to pull consumers away from Fitbit, Schindler told investors in his research note. PLATFORM PICKING UP STEAM: The analyst also pointed out that Fitbit now has more than 20 companies signed onto its health and wellness platform, including big names like Target (TGT) and Barclays (BCS), which he believes should help drive revenue beats in the upcoming fiscal year due to increased device sales. Also, the additional dashboard data should help Fitbit maintain long-term user engagement, said Schindler. APPLE WATCH: Apple's (AAPL) Apple Watch is largely viewed as the biggest potential competitive threat to Fitbit's offerings, but on the fitness tracker maker's last earnings call CEO James Park said Fitbit's products differ from those of its competitors in several key aspects, including pricing, cross-platform compatibility, brand awareness and product line breadth. Other wearables makers include Garmin (GRMN) and Samsung. PRICE ACTION: Since the day after Fitbit's last earnings report after the market close on November 2, its shares have fallen about 29.5% to close yesterday at $28.80. In pre-market trading this morning, Fitbit shares rose 2% to $29.40.
November 16, 2015
10:25 EDTNXPIUBS trims Apple target, says iPhone partner cut production forecast
Hon Hai, which manufactures Apple's (AAPL) iPhones, expects to assemble significantly fewer iPhones this quarter than in the same period in 2014, UBS wrote in a note to investors today. WHAT'S NEW: Hon Hai Precision Industry, also known as Foxconn, is expected to assemble 10% fewer iPhones this quarter than in the same period in 2014, said UBS analyst Steven Milunovich, citing work from fellow UBS analyst Arthur Hsieh. Previously, companies that supply force touch components for iPhones saw a 10%-15% reduction in their orders, the analyst reported. These developments "are not encouraging," but Apple had previously ordered a large number of iPhones for Q4, according to Milunovich. Overall iPhone demand "could still be decent," he believes. However, the analyst lowered his iPhone sales estimate for Apple's March quarter to 61M from 62.5M, asserting that iPhone sales on China's November 11 Singles Day holiday may have come in below expectations. Based on October search volumes, he continues to believe that demand for iPhone units in the fourth quarter of the calendar year will be 75M, in-line with the consensus outlook. Milunovich trimmed his price target on Apple to $140 from $150 but kept a Buy rating on the shares. WHAT'S NOTABLE In a note to investors on November 10, Credit Suisse reported that it was cutting its estimates for 2016 iPhone sales. The firm expects sales of the device to fall 10.4% in the first quarter versus the same period in 2015, and it predicts that iPhone sales will decline 5.5% year-over-year in 2016. Suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS), Credit Suisse reported. The firm said it continues to have a negative view of the smartphone sector. PRICE ACTION: In early trading, Apple added nearly 1% to $113.34.
November 13, 2015
17:04 EDTNXPIThird Point gives quarterly update on stakes
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16:40 EDTNXPIAppaloosa gives quarterly update on stakes
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14:15 EDTTGTTarget volatility elevated into Q3 and outlook
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11:05 EDTTGTTarget comparable sales likely within guidance, says Piper Jaffray
Piper Jaffray analyst Sean Naughton acknowledged that sentiment is challenging on Target's stock amid the weakness being reported by a number of retailers this week, but he asserts that Census Bureau data this morning, combined with the firm's observations, leave him thinking that Target's third quarter comparable sales are within the company's guidance of up 1%-2%. The analyst, who thinks Target's fundamentals may be holding up better than some expect, has an Overweight rating and $88 price target on the stock.
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