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Stock Market & Financial Investment News

News Breaks
May 21, 2014
12:38 EDTBAH, PETM, PHH, TIF, OGZPY, AEO, TGTOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, with the Dow's triple digit gain recapturing most of what had been lost by the blue chip index yesterday. Stock futures improved during pre-market trading, leading to a positive open for the broader market, but the averages have moved in a narrow range since the opening half hour of trading. Investors now await the release of the minutes from the Fed's last rate-setting meeting to see if there was any change in the language surrounding itís monetary policy. ECONOMIC EVENTS: In the U.S., the Federal Reserve will release the minutes from its April FOMC meeting at 2 pm ET. In Asia, the Bank of Japan left its policies unchanged, as was widely expected, but its outlook on capital spending was upgraded. Also, central bank head Haruhiko Kuroda signaled he wasn't preparing further monetary easing soon and reiterated his optimism that Japan is on track to meet the bank's 2% inflation target. Also, China and Russia's Gazprom (OGZPY) signed a natural gas contract said to be worth a total of $400B over the 30-year life of the agreement. COMPANY NEWS: Shares of Target (TGT) were marginally lower near noon after the retailer reported slightly lower than expected adjusted earnings for its first quarter and lowered its adjusted profits outlook for the fiscal year. The company said that while it was pleased with its "continued recovery" from its well-publicized data breach, that its needs to "move more quickly" and is investing additional resources to drive U.S. traffic and sales, resulting in its lowered earnings expectations. MAJOR MOVERS: Among the notable gainers was luxury retailer Tiffany (TIF), which climbed 8.5% after the company reported significantly stronger than expected results and raised its full-year profit guidance. Also higher was PHH Corp. (PHH), which rose more than 16% after Reuters said a Canadian equipment finance company is in exclusive talks to buy PHH's fleet leasing business for about $1.35B in cash. Among the noteworthy losers was pet products and services supplier PetSmart (PETM), whose shares sunk over 7.5% after the company reported mixed first quarter results and issued a weaker than expected profit outlook. Also lower following their earnings reports were government consultant Booz Allen Hamilton (BAH), which fell 10%, and apparel retailer American Eagle Outfitters (AEO), which dropped more than 5%. INDEXES: Near midday, the Dow was up 134.02, or 0.82%, to 16,508.33, the Nasdaq was up 21.40, or 0.52%, to 4,118.29, and the S&P 500 was up 10.56, or 0.56%, to 1,883.39.
News For TGT;TIF;PETM;AEO;PHH;BAH;OGZPY From The Last 14 Days
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January 15, 2015
08:28 EDTTGTTarget to report Canadian operations as discontinued starting in Q4
As a result of the Canada decision, Target Corporation will operate as a single segment that includes all U.S. operations. Beginning with the companyís Q4 financial results, Target will report adjusted earnings per share reflecting operating results from its U.S. operations, excluding discontinued Canadian operations, the impact of the reduction of the beneficial interest asset recognized in connection with the 2013 sale of the Companyís U.S. consumer credit card portfolio, net expenses related to the 2013 data breach, and the resolution of certain tax matters.
08:27 EDTTGTTarget to exit Canadian operations, sees move raising earnings in FY15 and after
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08:24 EDTTGTTarget volatility flat into discontinuation of Canadian operations
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08:23 EDTTGTTarget jumps after announcing plans to exit Canadian operations
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08:21 EDTTGTTarget sees reporting $5.4B pre-tax losses on discontinued operations in Q4
08:19 EDTTGTTarget to discontinue Canadian operations
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January 13, 2015
10:20 EDTTIFTiffany test support of long-term uptrend, levels to watch
The stock was hammered yesterday after the company cut its FY14 EPS view to a range of $4.15 to $4.20. Today the downtrend continues with the shares last at $88.08. At that price the bottom of the bullish price channel that began in June 2012 is being tested. A breakdown below $88 would be long-term bearish for price. Next support below $88 is at $85.69. Resistance is at $89.01.
10:08 EDTPHHHigh option volume stocks
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09:45 EDTTIFTiffany downgraded to Equal Weight from Overweight at Stephens
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08:43 EDTAEOAmerican Eagle has reached positive turning point, says BMO Capital
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07:30 EDTPHHPHH Corp. shares poised to advance in 2015, says Oppenheimer
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January 12, 2015
11:41 EDTTIFTiffany plummets after cutting fiscal 2014 profit outlook
Shares of jewelry and accessories retailer Tiffany (TIF) are sinking after the company lowered its profit outlook for fiscal 2014. Additionally, the company reported holiday sales for the two-month period ended December 31 were 1% below prior year levels. WHAT'S NEW: Tiffany this morning reported sales results for the two-month holiday period ended December 31. For the period, the company reported worldwide net sales of $1.02B, 1% below the prior year. Worldwide net sales increased 3% and comparable sales were even with the prior year on a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars. WHAT'S NOTABLE: Tiffany cut its FY14 net earnings per share view to $4.15-$4.20 from $4.20-$4.30, trailing analysts' consensus estimates of $4.32. Tiffany President and Chief Executive Officer Federic Cumenal said that the company is planning "cautiously" for the coming year. Cumenal noted that the company anticipates "significant headwinds from the stronger U.S. dollar against all of our key currencies that, as we experienced in the holiday period, negatively affects both the translation of results and sales to tourists in the U.S." Cumenal said that these factors are expected to result in the company planning low-to-mid single-digit sales and earnings growth in 2015. Cumenal also commented that "Despite these and other global economic pressures that we anticipate in the short-term, we believe that, when they abate, Tiffany will resume higher earnings growth rates based on stronger sales growth and increasing operating margins." ANALYST REACTION: This morning, research firm Sterne Agee lowered its price target for Tiffany to $110 from $121 citing the company's "disappointing" holiday comps and "soft" initial 2015 guidance. However, he firm kept a Buy rating on the name, and said it is encouraged by the company's relative strength in Asia-Pacific and Europe. PRICE ACTION: In late morning trading, Tiffany fell $12.15, or about 11.7%, to $91.30 on more than three times its average daily trading volume. Despite today's pull back, the shares have gained approximately 1% over the past 12 months. OTHERS TO WATCH: Tiffany & Co peers include Signet Jewelers (SIG), down 0.6%, and Blue Nile (NILE), down 2.2%.
10:58 EDTAEOAmerican Eagle says expects to end year with cash around $400M
10:40 EDTAEOAmerican Eagle repeats Q4 EPS view 32c-34c, 25% growth vs. last year's Q4
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10:17 EDTTIFTiffany price target lowered to $110 from $121 at Sterne Agee
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10:15 EDTTIFOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:30 EDTTIFOn The Fly: Pre-market Movers
HIGHER: Foundation Medicine (FMI) up 138.9% following transaction with Roche (RHHBY)... Celator Pharmaceuticals (CPXX), up 19.1% after announcing promising Phase 2 data for CPX-351... Second Sight (EYES), up 16.7% after Health Canada approves Argus II retinal prosthesis system... Aegerion (AEGR), up 7.8% after reporting preliminary fourth quarter results and guidance... Express (EXPR), up 4.5% after reporting preliminary fourth quarter results. NOTABLE: NPS Pharmaceuticals (NPSP), up 8.5% following acquisition by Shire (SHPG)... Shire is down 1.1% in pre-market trading. LOWER: Arrowhead (ARWR), down 20.9% after FDA clears company to begin modified study of ARC-520 in a preliminary call of a partial clinical hold... Tiffany (TIF), down 10.4% after lowering fiscal 2014 net EPS guidance... SanDisk (SNDK), down 10.1% after lowering fourth quarter outlook... Ascena Retail (ASNA), down 5.8% after lowering fiscal 2015 adjusted EPS view... Sarepta Therapeutics (SRPT), down 5.9% after reporting long-term outcomes from Phase IIb Eteplirsen study... Loral Space & Communications (LORL), down 3.6% following a NY Post article that reported that talks to sell itself to the Ontario Teachersí Pension Plan have ended... Southwestern Energy (SWN), down 4.2% after filing to sell 20.3M shares of stock and 26M depository shares.
07:47 EDTTIFTiffany volatility elevated into lower 2014 earnings outlook
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07:04 EDTTIFTiffany cuts FY14 net EPS view to $4.15-$4.20 from $4.20-$4.30
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07:03 EDTTIFTiffany reports holiday period worldwide net sales $1.02B
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