New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 13, 2014
06:30 EDTTGT, JCP, VCyber attacks said to spread to other well known retailers, Reuters reports
Target and Neiman Marcus are not the only U.S. retailers whose networks were breached over the holiday shopping season last year, according to sources familiar with attacks on other merchants that have yet to be publicly disclosed, reports Reuters.Reference Link
News For TGT;V;JCP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
November 18, 2015
11:04 EDTTGTTarget sees Q4 SSS up 1%-2%
Subscribe for More Information
11:01 EDTTGTTarget says working with CVS team to secure regulatory approval for deal
Target (TGT) says "pleased" with progress to date of CVS (CVS) deal.
11:00 EDTV, TGTTarget sees industry's move to EMV restoring confidence to U.S. payment system
Subscribe for More Information
10:47 EDTTGTTarget sees Apple Watch to be top gift in wearable category in holiday season
Subscribe for More Information
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
Subscribe for More Information
08:05 EDTTGTTarget reports Q3 SSS up 1.9%
Subscribe for More Information
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
Subscribe for More Information
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
Subscribe for More Information
08:00 EDTTGTTarget reports Q3 adjusted EPS 86c, consensus 86c
Subscribe for More Information
07:49 EDTVBottomline Technologies announces strategic alliance with Visa
Subscribe for More Information
November 17, 2015
15:17 EDTTGTTarget November 73 straddle priced for 6% movement into Q3
Subscribe for More Information
15:13 EDTTGTNotable companies reporting before tomorrow's open
Subscribe for More Information
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.
10:13 EDTJCPJ.C. Penney management to meet with Buckingham
Subscribe for More Information
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
16:29 EDTJCPJ.C. Penney announces plans to retire $500M asset-based term loan
J. C. Penney Company announced that it has received $500M of incremental bank commitments to increase the size of the Revolving Line of Credit under its existing Senior Secured Asset-Based Credit Facility to $2.35B from $1.85B. In connection with upsizing the revolving credit facility, the Company also intends to prepay and retire the outstanding principal amount of its $500M Term Loan previously issued under the ABL, which is scheduled to mature in June 2019. The Company expects to close these transactions in December.The Company expects that retirement of the ABL Term Loan will reduce interest expense by approximately $20M annually, beginning in 2016. The $2.35B ABL revolving line of credit, which will also mature in June 2019, will remain available for seasonal working capital needs and general corporate purposes. Marvin Ellison, chief executive officer, said, "We proactively pursued this transaction to reduce our long-term debt and ongoing interest expense and to further enhance our financial flexibility while maintaining our strong liquidity position as we continue to make progress on our goal of $1.2B in EBITDA by 2017."
11:35 EDTJCPDillard's sinks to 52-week low after joining chorus of 'disappointed' retailers
Shares of Dillard's (DDS), a retailer of fashion apparel, cosmetics and home furnishing, are falling to their worst level in a year after the company became the latest in its industry to report lower than expected third quarter results. WHAT'S NEW: This morning, Dillard's reported Q3 earnings per share of $1.19 and revenue of $1.435B, narrowly missing analysts' consensus estimates of $1.20 and $1.49B, respectively. Same-store sales for the quarter fell 4%. Total merchandise sales decreased 3% for the 13-week period ended October 31. Weaker performing categories were men's apparel and accessories and ladies' accessories and lingerie with notable weakness in home and furniture the company explained. Dillard's Chief Executive Officer, William T. Dillard, II, stated, "We are disappointed with our third quarter sales performance and in the resulting decline in profit. Share buyback remained a high priority, and we repurchased $175 million of stock under our share repurchase program." WHAT'S NOTABLE: Gross margin from retail operations improved 11 basis points of sales for the 13 weeks ended October 31 compared to the prior year third quarter. Consolidated gross margin for the 13 weeks ended October 31 declined 30 basis points of sales compared to the prior year third quarter. The disparity between retail and consolidated gross margin performance is attributable to increased revenue at CDI, which is a substantially lower margin business. Inventory increased 6% at October 31 compared to November 1, 2014. For FY15, the company expects capital expenditures of $150M. PRICE ACTION: In late morning trading, Dillard's fell $5.81, or 7.5%, to $71.79 on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $68.05. Including today's pull back, the shares have lost about 36% over the past 12 months. OTHERS TO WATCH: Other apparel, cosmetics and home furnishing retailers include Macy's (M), Kohl's (KSS), JC Penny (JCP), Sears (SHLD) and Nordstrom (JWN).
1 | 2 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use