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Stock Market & Financial Investment News

News Breaks
February 3, 2014
11:39 EDTV, AXP, TGT, MATarget could be fined over $1 billion for card breach, analyst says
Target (TGT) may be fined $400 million to $1.1 billion for its credit card data breach late last year, research firm Jefferies wrote in a note to investors last week. WHAT'S NEW: Target may be fined up to $1.1 billion for its violation of Payment Card Industry, or PCI, standards as a result of the data breach, Jefferies analyst Daniel Binder wrote. PCI was founded by Visa (V), MasterCard (MA), American Express (AXP) and other major credit card networks to adopt security controls for handling credit and debit card data. In addition to leading to a fine, the incident could hurt Target's sales, and lower the profits that it receives from holders of its credit card, Binder stated. The data breach could also hamper Target's ability to meet its $4B share buyback target for fiscal 2015, added Binder. He now expects the company to buy back only $1B of its shares in fiscal 2015, and he reduced his fiscal 2015 earnings per share estimate for the company to $4.29 from $4.41. The analyst trimmed his price target on the shares to $56 from $59 and kept a Hold rating on the stock. Contrary to a previous version of this story, PCI does not levy fines. Rather individual payment brands may impose financial consequences on businesses that are not compliant with PCI standards. PRICE ACTION: In late morning trading, Target shares are down 2%, or 98c, to $55.66.
News For TGT;V;MA;AXP From The Last 14 Days
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November 19, 2014
11:08 EDTTGTTarget says November sales so far running above plan, but still early in season
Says saw positive comps in all three months of quarter. Says saw strong start to back to school, back to college season. Says sales slowed entering October, but recovered at the end of the month. Says omnichanel, flexible fulfillment capabilities "key" to long-term success. Says smaller format stores present "exciting" opportunity for company. Says company must continue to find cost savings opportunities in years to come. Says traffic trend has improved in every quarter this year. Confident in plans for upcoming holiday season. Doesn't anticipate share repurchase in Q4. Says "feels good" about current U.S. inventory levels. Expects competitive environment to remain highly promotional this holiday season. Sees Q4 gross margin improving y/y. Says November sales so far running above plan, but still early in season. Sees Q4 U.S. SSS up about 2%. Comments made on the Q3 earnings conference call. Target shares are up 5.64% to $71.38 in morning trading.
10:29 EDTMAMasterCard management to meet with Deutsche Bank
Meeting to be held in Amsterdam on November 19 hosted by Deutsche Bank.
09:16 EDTTGTOn The Fly: Pre-market Movers
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08:03 EDTTGTTarget sees FY14 adjusted EPS $3.15-$3.25, consensus $3.19
Full-year 2014 GAAP EPS is expected to be (45) cents below Adjusted EPS, reflecting: Pre-tax early debt retirement losses, recognized in interest expense, of $285 million, or (27) cents per share; Year-to-date net pre-tax data breach expenses of $140 million, or (14) cents per share; Pre-tax impairment losses of $31 million, or (3) cents per share; Pre-tax expense of $13 million, or (1) cent per share, related to Targetís decision to convert existing co-branded cards to MasterCard chip-enabled cards in 2015, and; A (5)-cent per share impact related to the expected reduction of the beneficial interest asset, partially offset by; A benefit of 5 cents per share from the favorable resolution of various income tax matters. GAAP EPS guidance does not include an estimate of future data breach-related expenses, which are not expected to be material in any individual period.
08:02 EDTTGTTarget sees Q4 adjusted EPS $1.13-$1.23, consensus $1.22
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08:02 EDTTGTTarget reports Q3 U.S. segment SSS up 1.2%
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08:00 EDTTGTTarget reports Q3 adjusted EPS 54c, consensus 47c
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07:51 EDTMAClearing House Payments Company to hold a conference
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07:07 EDTMACitigroup to hold a conference
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November 18, 2014
15:41 EDTTGTTarget November 67.5 straddle priced for 3.8% move into Q3
15:21 EDTTGTNotable companies reporting before tomorrow's open
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15:08 EDTTGTTarget technical comments ahead of results
The stock in the past three months has outperformed the broader averages, trading up over 14%. Most of that outperformance has been in recent days leading up to earnings. That move broke the shares out of a very narrow trading range that had persisted for two months. With the shares trading close to the 52-week high at $68.28, strong positive news or an upside surprise could propel the stock through that level and to the lifetime high at $73.50. A failure to break through the $70 area, particularly on a negative surprise, could leave the shares vulnerable to a larger than normal correction. On a long-term basis a failure at $70 would be a third attempt up that failed at resistance. Support levels to watch as potential downside objectives would be at $64.65, $61.46, and $59.57. The low of the range prior to the recent breakout was at $54.66, which is the 52-week low.
12:44 EDTTGT, MAEarnings Preview: Target sees FY14 adjusted EPS view of $3.10-$3.30
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07:53 EDTTGTTarget November volatility elevated into Q3 and outlook
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06:23 EDTVSprint names Douglas Michelman to management team, to replace Bill White
Sprint (S) announced the appointment of Douglas Michelman to Sprintís leadership team. Most recently, he spent 10 years as Chief Communications Officer at Visa (V), where he oversaw global media relations, public affairs, industry analyst relations and financial and communication strategies. Prior to Visa, Michelman served in various roles at FleishmanHillard, including regional president and senior partner. In addition to his many years of corporate experience, Michelmanís communications background also includes staff positions for two presidential campaigns. Michelman replaces Bill White, Senior Vice President of Corporate Communications and Corporate Social Responsibility, who will be leaving the company. White spent the past 32 years with Sprint. Michelman joins Sprint on Monday, Dec. 1, 2014, and will be relocating to Overland Park, Kansas.
November 17, 2014
14:21 EDTTGTEarnings Preview: Home Depot shares up over 17% since last earnings report
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12:03 EDTAXPAmerican Express reports October net write-off rate 1.3% vs. 1.2% last month
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09:00 EDTAXPDollar General says now accepting American Express cards
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07:42 EDTTGTTarget looks to put massive breach in rear-view one year later, WSJ says
Encouraging signs are appearing for Target as the company looks to put its massive data breach in the rear view mirror about one year later as it reports earnings this Wednesday, said The Wall Street Journal's "The Week Ahead" column. Target shares are near 2014 highs after analysts have recently reported a pickup in foot traffic at its stores, the article noted. Reference Link
06:07 EDTVStocks with implied volatility below IV index mean; CREE V
Stocks with implied volatility below IV index mean; Cree (CREE) 37, Visa (V) 17 according to iVolatility.
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