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Stock Market & Financial Investment News

News Breaks
March 13, 2013
18:46 EDTTD, TGTTarget sees sale of credit card portfolio lowering adjusted EPS for 12 months
Target Corporation (TGT) announced that it has completed the sale of its entire consumer credit card portfolio to TD Bank Group (TD) for $5.7B. The two companies have entered into a seven-year program agreement under which TD will underwrite, fund and own future Target Credit Card and Target Visa receivables in the United States. Under the terms of the program agreement, Target will continue to earn a substantial portion of the profits generated by the credit card portfolio. Target continues to expect that net income from the portfolio profit-sharing arrangement, combined with the benefit of debt reduction and share repurchase resulting from deployment of proceeds from the sale, will result in mild dilution to Target's adjusted EPS in the first 12 months following closing. Specifically, Target expects that in the 12 months following closing its adjusted EPS will be approximately 10c lower compared with a scenario in which Target continued to fund its portfolio. Based on its forecast for income from profit sharing combined with the expected benefit from share repurchase and interest savings, Target expects that the adjusted EPS impact of this transaction will become neutral over time.
News For TGT;TD From The Last 14 Days
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April 28, 2015
06:24 EDTTGTSmall lenders object to settlements between card networks merchants, WSJ says
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April 24, 2015
18:27 EDTTDTD Bank Group announces Apple Watch app
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10:00 EDTTGTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Outperform from Neutral at Macquarie... Alaska Air (ALK) upgraded to Buy from Neutral at Buckingham... Amazon.com (AMZN) upgraded at Raymond James... American Electric (AEP) upgraded to Buy from Hold at Deutsche Bank... Broadridge (BR) upgraded to Buy from Hold at Evercore ISI... Cablevision (CVC) upgraded to Hold from Sell at Brean Capital... Cisco (CSCO) upgraded to Conviction Buy from Buy at Goldman... Core Laboratories (CLB) upgraded to Outperform from Sector Perform at Iberia... Crown Castle (CCI) upgraded to Outperform from Market Perform at Raymond James... Encore Wire (WIRE) upgraded to Buy from Neutral at Sidoti... Gigamon (GIMO) upgraded to Buy from Neutral at DA Davidson... Juniper (JNPR) upgraded on improved outlook at RBC Capital... KPN (KKPNY) upgraded to Buy from Neutral at Goldman... Knight Transportation (KNX) upgraded to Outperform from Market Perform at Avondale... Mattel (MAT) upgraded to Buy from Neutral at Goldman... Microsoft (MSFT) upgraded to Buy from Neutral at Nomura... Premiere Global (PGI) upgraded to Outperform from Market Perform at Raymond James... Quintiles (Q) upgraded to Buy from Hold at Jefferies... Southwestern Energy (SWN) upgraded to Market Perform at Raymond James... TE Connectivity (TEL) upgraded on positive catalysts at SunTrust... Target (TGT) upgraded to Buy from Neutral at BofA/Merrill... TriState Capital (TSC) upgraded to Overweight from Equal Weight at Stephens... United Continental (UAL) upgraded to Buy from Hold at Evercore ISI... Vipshop (VIPS) upgraded to Buy from Hold at HSBC... Vocera (VCRA) upgraded to Buy from Hold at Craig-Hallum.
08:12 EDTTGTTarget upgraded on improving initiatives and consumer at BofA/Merrill
As previously reported, BofA/Merrill upgraded Target to Buy from Neutral. The firm believes Target is well positioned to benefit from an improving middle-income core customer base. BofA/Merrill 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 target increased to $92 from $86.
08:03 EDTTGTTarget upgraded to Buy from Neutral at BofA/Merrill
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April 21, 2015
06:18 EDTTGTUS merchants struggle to meet deadline for accepting chip cards, WSJ reports
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April 19, 2015
17:28 EDTTGTTarget website overwhelmed by rush from Lilly Pulitzer shoppers, WSJ says
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April 17, 2015
10:34 EDTTDApple seeks to launch Apple Pay in Canada in November, WSJ reports
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April 15, 2015
17:32 EDTTGTMasterCard reaches agreement with Target to resolve claims
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April 14, 2015
18:41 EDTTGTTarget close to $20M settlement with MasterCard over data breach, WSJ says
According to people familiar with the negotiations, Target (TGT) is approaching a settlement with MasterCard (MA) to reimburse financial institutions roughly $20M for costs they incurred from the retailerís massive data breach in 2013, The Wall Street Journal reports. Target is negotiating a separate settlement with Visa (V), according to sources, WSJ added. Reference Link
18:17 EDTTGTTarget close to $20M settlement with MasterCard over data breach, DJ says
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