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Stock Market & Financial Investment News

News Breaks
August 5, 2014
12:37 EDTCHGG, DLTR, WFM, SALE, FDO, TGT, ECOM, DGOn The Fly: Midday Wrap
Stocks on Wall Street were lower at the open and remained in negative ground throughout the morning. The market broke its losing streak yesterday but is on track to give back those gains if the levels near noon hold into the closing bell. The move lower comes in spite of the day's economic data generally beating expectations. ECONOMIC EVENTS: In the U.S., Markit's services PMI dipped to 60.8 for the final July print from the 61.0 flash estimate for the month. A similar reading from ISM, its non-manufacturing index, climbed to 58.7 in July from June's 56.0 reading. Factory orders rebounded 1.1% in June, which was better than the expected 0.5% increase. COMPANY NEWS: Shares of Target (TGT) fell about 3% after the company pre-announced that it now expects its earnings per share in the second quarter, excluding some items, to come in at 78c, versus its previous guidance of 85c-$1.00. The company expects its comparable sales in the U.S. to be "essentially flat," and it believes the profit margin on its earnings before interest taxes depreciation and amoritzation were lower than expected in Q2. Discounts weighed on the company's margins, as consumers continued to spend cautiously at the company's stores and focus on value, Target reported. The retailer also estimated that the after-effects of its December 2013 data breach cost it $110M in the second quarter... Shares of Whole Foods (WFM) jumped in early trading, with the strength attributed to speculation that activist investor Carl Icahn may have taken a stake in the natural foods grocer, potentially fueled by a tweet from TheStreet's Douglas Kass. Following the circulation of the rumors early in the trading day, Yahoo Finance's Kevin Chupka reported that Carl Icahn has "absolutely no interest in Whole Foods whatsoever," citing sources familiar with the situation. Near noon, shares of Whole Foods were off their highs, but remained up about 2% near $39 per share. MAJOR MOVERS: Among the notable gainers was Chegg (CHGG), which gained 17% after reporting higher than expected quarterly results and that it formed a strategic alliance with Ingram Content Group, the world's largest book distributor. Also higher was Dollar General (DG), which rose 3% after Bloomberg said that the company is exploring a bid for Family Dollar (FDO), which it had previously passed on before the latter announced a deal to be acquired by Dollar Tree (DLTR). Among the noteworthy losers was ChannelAdvisor (ECOM), which dropped 28% after its earnings report was followed by analysts at Stifel and RW Baird lowering their respective price targets on the stock to the low $30 area from $40 per share, where both firms previously had their targets pegged. Also lower following its earnings report was RetailMeNot (SALE), which tumbled 26% after the company last night reported weaker than expected results and cut its guidance and saw RBC Capital downgrade its stock to Sector Perform from Outperform. INDEXES: Near midday, the Dow was down 87.69, or 0.53%, to 16,481.59, the Nasdaq was down 20.02, or 0.46%, to 4,363.87, and the S&P 500 was down 10.89, or 0.56%, to 1,928.10.
News For TGT;WFM;DG;FDO;DLTR;ECOM;SALE;CHGG From The Last 14 Days
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December 15, 2014
08:28 EDTWFMWhole Foods trends still look healthy, says Oppenheimer
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06:10 EDTFDO, DLTR, DGFamily Dollar 'likely' to postpone investor vote on Dollar Tree deal, NYP says
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05:58 EDTDGStocks with implied volatility above IV index mean; ACHN DG
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December 11, 2014
16:59 EDTFDOElliott Associates reports 6.8% stake in Family Dollar
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10:21 EDTDLTRHigh option volume stocks
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05:52 EDTDGStocks with implied volatility above IV index mean; DG EBAY
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December 10, 2014
10:00 EDTDG, DLTROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with an Underperform at Longbow... AutoZone (AZO) initiated with a Buy at Nomura... C.H. Robinson (CHRW) initiated with a Neutral at Nomura... CSX (CSX) initiated with a Buy at Nomura... CVS Health (CVS) initiated with a Neutral at Citigroup... Canadian National (CNI) initiated with a Neutral at Nomura... Carrizo Oil & Gas (CRZO) initiated with a Buy at Canaccord... CenterPoint Energy (CNP) initiated with a Neutral at Nomura... Con-way (CNW) initiated with a Neutral at Nomura... Cornerstone OnDemand (CSOD) initiated with a Buy at BofA/Merrill... Depomed (DEPO) initiated with an Outperform at RBC Capital... Dollar General (DG) initiated with a Buy at Citigroup... Dollar Tree (DLTR) initiated with a Neutral at Citigroup... Dynagas LNG (DLNG) initiated with a Buy at ABN Amro... EMC (EMC) initiated with a Neutral at JPMorgan... Energy Focus (EFOI) initiated with a Buy at Roth Capital... Expeditors (EXPD) initiated with a Neutral at Nomura... GasLog (GLOG) initiated with a Buy at ABN Amro... Genesee & Wyoming (GWR) initiated with a Neutral at Nomura... Golar LNG (GLNG) initiated with a Sell at ABN Amro... HII Technologies (HIIT) initiated with a Buy at Roth Capital... Hudbay Minerals (HBM) initiated with an Overweight at Barclays... J.B. Hunt (JBHT) initiated with a Buy at Nomura... Kansas City Southern (KSU) initiated with a Buy at Nomura... Kroger (KR) initiated with a Buy at Citigroup... Lear (LEA) initiated with a Buy at Northcoast... Lundin Mining (LUNMF) initiated with an Overweight at Barclays... NetApp (NTAP) initiated with a Neutral at JPMorgan... Norfolk Southern (NSC) initiated with a Neutral at Nomura... PROS (PRO) initiated with an Outperform at Pacific Crest... Qlik Technologies (QLIK)initiated with a Buy at BofA/Merrill... Rentokil (RTOKY) initiated with a Neutral at UBS... Revolution Lighting (RVLT) initiated with a Buy at Roth Capital... ServiceNow (NOW) initiated with a Buy at BofA/Merrill... Stratasys (SSYS) initiated with a Neutral at Longbow... Suburban Propane (SPH) initiated with a Hold at Stifel... Tableau (DATA) initiated with a Buy at BofA/Merrill... Teekay LNG (TGP) initiated with a Buy at ABN Amro... Tessera (TSRA) initiated with a Buy at Sidoti... Union Pacific (UNP) initiated with a Buy at Nomura... Viper Energy (VNOM) initiated with a Buy at Stifel... Visteon (VC) initiated with a Buy at Northcoast... Walgreen (WAG) initiated with a Buy at Citigroup... Werner (WERN) initiated with a Neutral at Nomura.
07:39 EDTECOMBMO Capital to hold a conference
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06:16 EDTDLTRDollar Tree initiated with a Neutral at Citigroup
Target $75.
06:16 EDTDG, FDODollar General initiated with a Buy at Citigroup
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06:00 EDTDGStocks with implied volatility above IV index mean; DG OPK
Stocks with implied volatility above IV index mean; OPKO Health (OPK) 36, Dollar General (DG) 37 according to iVolatility.
December 9, 2014
07:58 EDTECOMChannelAdvisor should benefit from strong e-commerce trends, says Pacific Crest
After conducting a consumer technology survey, Pacific Crest expects ChannelAdvisor to benefit from strong holiday e-commerce trends and growing demand for e-commerce tools. The firm expects the company to sustain revenue growth of at least 25%, and it recommends buying the shares.
06:09 EDTWFMStocks with implied volatility below IV index mean; PCLN WFM
Stocks with implied volatility below IV index mean; Priceline (PCLN) 20, Whole Foods (WFM) 20 according to iVolatility.
06:07 EDTDGStocks with implied volatility above IV index mean; DG OPK
Stocks with implied volatility above IV index mean; OPKO Health (OPK) 41, Dollar General (DG) 37 according to iVolatility.
December 8, 2014
06:13 EDTWFMStocks with implied volatility below IV index mean; WFM V
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December 5, 2014
12:03 EDTDG, DLTR, FDOFive Below plummets after Q4, FY14 outlooks trail analysts' estimates
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10:03 EDTDG, FDO, DLTRFamily Dollar sees Dollar General needing to divest over 3.4K stores, CNBC says
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09:19 EDTDLTR, FDO, DGDollar General says remains committed to purchase of Family Dollar
Dollar General Corporation (DG) issued the following statement in response to comments made by Dollar Tree (DLTR) regarding its view of potential store divestitures that may be required by the FTC in either a Dollar Tree/Family Dollar Stores (FDO) or a Dollar General/Family Dollar combination. Dollar General’s documents and data tell a very different story from that contained in the press release issued today by Dollar Tree. As Dollar General previously has stated, Walmart (WMT), not Family Dollar, is the primary driver regarding Dollar General’s strategic pricing decisions, and more than 90% of Dollar General’s SKUs are nationally priced. Dollar General is confident that its approach to strategic and pricing decisions is both correct and superior to that of Family Dollar and Dollar General has no intention of adopting a flawed strategy -- either now or after an acquisition of Family Dollar -- that it believes would impair its ability to compete with Walmart and lead to inferior financial performance. Dollar General is actively engaged in discussions with the FTC regarding the extent of potential divestitures that would be required in connection with an acquisition of Family Dollar and has been making good progress. Over the past few weeks, Dollar General has provided the FTC with tens of thousands of documents supporting the above facts and its broad view of competition. There is no reason to believe that the FTC would take into account only Family Dollar’s documents and data or afford them greater significance than Dollar General's own evidence. As stated in Dollar General's press release of December 4, Dollar General will continue to work with the FTC and expects to provide an update in sufficient time to allow Family Dollar shareholders to review such information prior to the Family Dollar shareholders’ meeting now scheduled for December 23.
06:25 EDTWFMStocks with implied volatility below IV index mean; WFM V
Stocks with implied volatility below IV index mean; Whole Foods (WFM) 20, Visa (V) 16 according to iVolatility.
06:09 EDTDG, FDO, DLTRDollar Tree provides update on FTC review of pending acquisition of Family Dolla
Dollar Tree (DLTR) announced that it was providing an update regarding the status of the FTC's review of its pending acquisition of Family Dollar (FDO). Dollar Tree and Family Dollar have been actively engaging with the staff of the FTC as they review the pending merger. The company said, "The staff of the FTC is very focused on the discount retail sector (including how Family Dollar’s current pricing rules would impact store prices in a merger transaction) and has indicated that some divestitures will be required for the Pending Merger, which we believe will be no more than our original commitment in the July 27, 2014, Merger Agreement. Dollar Tree will work diligently with the FTC staff over the next few weeks concerning divestitures. Given the relatively small number of divestitures our transaction implicates, Dollar Tree does not expect any such divestiture to have a material impact on its plans for the combined organization. Furthermore, we believe that we will be in a position to complete the financing for the Pending Merger in January 2015 and to complete the Pending Merger as early as February 2015... In connection with its unsolicited tender offer for Family Dollar, Dollar General (DG) continues to refuse to agree to a “hell-or-high-water” commitment. Based on the foregoing concerns regarding the Pending Merger, Dollar Tree believes that the FTC may require divestitures far in excess of the 1,500 stores that Dollar General has offered to divest in its tender offer for Family Dollar... The special meeting of Family Dollar shareholders to vote on the Pending Merger is currently scheduled for December 23, 2014. To facilitate the FTC’s continued review, and in light of the practicalities associated with the transaction, Dollar Tree and Family Dollar have agreed not to close the Pending Merger until January 30, 2015, unless the FTC completes its review of the Pending Merger and terminates the waiting period at an earlier date. Dollar Tree will continue to provide additional information as the special meeting date approaches."
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