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Stock Market & Financial Investment News

News Breaks
March 13, 2013
18:46 EDTTGT, TDTarget 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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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 Target’s 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
06:22 EDTTGTStaples may be latest retailer to be hacked, Krebs reports
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October 17, 2014
06:41 EDTTDToronto-Dominion upgraded to Outperform from Neutral at Credit Suisse
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October 15, 2014
12:45 EDTTDNY AG announces multi-state settlement with TD Bank over data breach
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October 13, 2014
07:15 EDTTGTNational Association of Corporate Directors to hold a conference
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October 9, 2014
09:41 EDTTGTBofA/Merrill retail analysts hold an analyst/industry conference call
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08:01 EDTTGTTarget CEO hands-on with Canadian turnaround, Globe and Mail says
Brian Cornell, the new CEO of Target, told The Globe and Mail in an interview that he is taking a hands-on approach to repairing the company’s Canadian business and that he will travel north on a “regular” basis to oversee the turnaround. Reference Link

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