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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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August 1, 2014
16:51 EDTTGTMarket finishes week lower as Fed, geopolitical worries weigh
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July 31, 2014
17:06 EDTTGTOn The Fly: Closing Wrap
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12:58 EDTTGTAnalysts applaud Target CEO selection
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10:02 EDTTGTOn The Fly: Analyst Upgrade Summary
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08:49 EDTTGTTarget upgraded to Market Perform from Underperform at Cowen
08:25 EDTTGTTarget hiring of Cornell a good choice, says Janney Capital
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07:02 EDTTGTTarget names Brian Cornell as chairman and CEO, effective August 12
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07:01 EDTTGTTarget names Brian Cornell as chairman and CEO
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06:01 EDTTGTTarget to name PepsiCo's Brian Cornell as new CEO, WSJ reports
Target (TGT) is reportedly set to name Brian Cornell, an executive at PepsiCo (PEP), to become its new CEO, the Wall Street Journal reports. Cornell, who would be Target's first outside CEO pick, most recently ran PepsiCo's Americas Foods business. Reference Link
July 18, 2014
18:12 EDTTGTVisa, MasterCard denied bid to dismiss opt-out swipe fee suits, Bloomberg says
Merchants that opted out of the swipe-fee settlement brought their own suits, which Visa (V) and MasterCard (MA) were not approved to dismiss, Bloomberg reports. Merchants such as Target (TGT) and Macy’s (M) pursued their cases after dropping out of an earlier settlement over swipe fees, Bloomberg added. Reference Link

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