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Stock Market & Financial Investment News

News Breaks
August 5, 2014
12:37 EDTDG, CHGG, DLTR, WFM, SALE, FDO, TGT, ECOMOn 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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July 6, 2015
17:21 EDTFDOAdvance Auto Parts to replace Family Dollar in the S&P 500 as of July 8
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12:43 EDTFDO, DLTRDollar Tree completes acquisition of Family Dollar
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July 2, 2015
16:53 EDTDLTR, FDODollar Tree says receives FTC clearance to complete Family Dollar merger
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July 1, 2015
19:48 EDTWFMWhole Foods co-CEOs comment on pricing issues, will implement audit system
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16:53 EDTFDOFamily Dollar reports Q3 adjusted EPS 74c, consensus 82c
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09:46 EDTTGTCriteo rises after said to add Alibaba, Target as customers
Shares of digital marketing solutions provider Criteo (CRTO) are rising in early trading after research firm Pacific Crest raised its price target on the stock. The firm also notes that it appears Criteo has recently added Alibaba (BABA) and Target (TGT) as customers. WHAT'S NEW: In a note to investors this morning, Pacific Crest analyst Evan Wilson said that the firm's checks indicate that Criteo now has cookies on 49% of the top 100 retail and travel websites in the U.S. Wilson noted that Google (GOOG) has 76% of the top 100, but suggested also that its heavy overlap with Criteo reinforces the view that the two companies' cookies serve different purposes. Wilson said Target was a notable Criteo win in the U.S. during Q2, while also saying the firm discovered that some Alibaba sites outside of China now have a Criteo cookie for the first time. Wilson raised his 2016 estimates for Criteo citing the continued strong checks and increased the firm's price target on the stock to $65 from $55. PRICE ACTION: In early trading, Criteo grained $2.30, or 4.8%, to $49.97.
08:50 EDTECOMChannelAdvisor helps customers expand international reach with Amazon Mexico
ChannelAdvisor announced it is helping its customers expand their international reach through its support of Amazon Mexico that just launched its physical goods store and marketplace on June 30. With products in categories such as consumer electronics, home and garden, sports, health and personal care, home improvement and more, Amazon Mexico offers retailers and branded manufacturers a comprehensive site to sell into Mexico. Retailers can ship Amazon Mexico orders from their own distribution center or use Fulfillment by Amazon. Retailers and branded manufacturers using FBA for Amazon Mexico orders are required to import their products to an Amazon Fulfillment Center located in Mexico for storage and local fulfillment. When using FBA, Amazon will provide 24-hour, local language customer support on behalf of the retailer.
June 30, 2015
07:28 EDTFDO, DLTRDollar Tree shares poised to outperform, says Wells Fargo
Wells Fargo predicts that Dollar Tree will be re-ranked by quantitative investment models following its merger with Family Dollar (FDO), enabling Dollar Tree's stock to outperform. The firm predicts that Dollar Tree's P/E ratio will become much lower versus its peers after the merger closes. Wells keeps an Outperform rating on Dollar Tree.
June 26, 2015
10:00 EDTTGTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARM Holdings (ARMH) downgraded to Underperform from Market Perform at Bernstein... Apogee Enterprises (APOG) downgraded to Market Perform from Outperform at Northland... Atlas Resource Partners (ARP) downgraded to Underperform from Neutral at BofA/Merrill... Bank of the Ozarks (OZRK) downgraded to Hold from Buy at Drexel Hamilton... China Cord Blood (CO) downgraded to Neutral from Buy at Roth Capital... Citizens Financial (CFG) downgraded to Neutral from Buy at Guggenheim... Community Health (CYH) downgraded to Market Perform from Outperform at Raymond James... Eagle Bancorp (EGBN) downgraded to Hold from Buy at Sandler O'Neill... Fifth Street Senior (FSFR) downgraded to Neutral from Buy at UBS... FireEye (FEYE) downgraded to Equal Weight from Overweight at Barclays... Insight Enterprises (NSIT) downgraded to Underperform at Raymond James... Micron (MU) downgraded to Neutral from Buy at Mizuho... SYNNEX (SNX) downgraded to Hold from Buy at Needham... Swatch Group (SWGAY) downgraded to Equal Weight from Overweight at Barclays... Target (TGT) downgraded to Market Perform from Outperform at BMO Capital... Zoetis (ZTS) downgraded to Market Perform from Outperform at BMO Capital.
07:40 EDTTGTTarget downgraded to Market Perform from Outperform at BMO Capital
BMO Capital downgraded Target to Market Perform citing near-term leadership uncertainty at a time when shares are trading near 52 week and all-time highs. BMO Capital's analyst said it was surprised by the announcement that Kathee Tesija, EPV and Chief Merchandising and Supply Chain Officer will transition into an advisory role but does not view it as a disagreement in strategic direction.
June 25, 2015
09:21 EDTFDOFamily Dollar volatility low into Q1 and outlook
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09:03 EDTTGTTarget: Chief Merchandising and Supply Chain Officer to move to advisory role
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08:26 EDTTGTTarget management to meet with Evercore ISI
Field trip to company headquarters to be held in Minneapolis on June 29 hosted by Evercore ISI.
08:01 EDTDGDollar General names John Garratt as interim CFO, effective July 1
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June 24, 2015
15:53 EDTWFMSunTrust identifies the most likely M&A activity in specialty retail
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13:39 EDTWFMDCA reports 'systemic overcharging' for pre-packaged foods at Whole Foods
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10:31 EDTWFMNew York probing Whole Foods over alleged overcharging, Daily News reports
New York City has launched a probe of Whole Foods Markets after an investigation conducted by the Department of Consumer Affairs found items for sale at its locations were labeled inaccurately, with many overcharging consumers, according to The Daily News. A Whole Foods spokesman said the company disagrees with the city's findings and is "vigorously defending" itself against the allegations, the report noted. Reference Link

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