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Stock Market & Financial Investment News

News Breaks
July 31, 2014
12:58 EDTPEP, WMT, TGTAnalysts applaud Target CEO selection
Two analysts applauded Target's (TGT) decision to hire former Wal-Mart (WMT) and PepsiCo (PEP) executive Brian Cornell as its new CEO. WHAT'S NEW: Target announced that it had tapped Cornell, a former CEO of Wal-Mart's Sam's Club unit, as its new CEO, effective August 12. Cornell's most recent position was at Pepsi, where he served as the CEO of the company's PepsiCo Americas Foods unit. He has had more than 30 years of experience at some of the nationís leading retail and consumer product companies, Target added. ANALYST REACTION: Janney Capital analyst David Strasser praised Target's decision to hire Cornell. During Cornell's tenure at Wal-Mart, he was taking Sam's Club in a positive direction, the analyst believes. Over the course of the three years during which Cornell led Sam's Club, the division's comparative sales growth increased to mid single digit percentage levels from low single digit percentage levels and he was thought of as a solid leader, according to Strasser. Cornell has has "the right mix and background" to lead Target, added the analyst, who nonetheless kept a Neutral rating on the shares. Similarly, Peter Benedict, an analyst at research firm Robert W. Baird, called Cornell "a talented and well-respected leader." Cornell emphasized merchandise quality, space productivity, and labor/operational efficiencies while he was at the helm of Sam's Club, Benedict stated. Sam's Club's membership trends accelerated when Cornell was CEO there, Benedict reported. The analyst also kept a Neutral rating on Target's shares. Meanwhile, another research firm, Cowen, upgraded Target to Market Perform from Underperform, citing Cornell's hiring. PRICE ACTION: In early afternoon trading, Target fell 2% to $60.18.
News For TGT;WMT;PEP From The Last 14 Days
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July 30, 2015
17:24 EDTTGTFoot Locker appoints Verma as Chief Information Officer
Foot Locker (FL) announced the appointment of Pawan Verma as SVP and Chief Information Officer, effective August 10. Verma succeeds Peter Brown, who retired in April. Verma joins Foot Locker from Target (TGT), most recently serving as VP, Digital and Marketing Technologies and Services Platforms.
July 28, 2015
18:08 EDTWMTWal-Mart warns suppliers to comply with labeling laws, WSJ reports
Last week, Wal-Mart sent a memo to hundreds of suppliers warning them to comply with labeling laws, noting that the amount inside a package should match what is printed on the outside, the Wall Street Journal reports. Reference Link
14:55 EDTWMTEarnings Watch: MasterCard reports after peers warn of currency headwinds
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July 24, 2015
06:37 EDTTGT, WMTWal-Mart increases offerings in baby category
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July 23, 2015
19:24 EDTWMT, TGTWal-Mart's Apple Pay competitor launching soon, Bloomberg says
CurrentC, the mobile payment application funded by Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and others, will see an early trial run next month, Bloomberg reported earlier, citing three people familiar with the situation. A spokesperson for Lowe's (LOW) said the consortium behind the app expects an official launch in Q3, and Bloomberg noted that CurrentC will compete with more "established" offerings such as Apple's (AAPL) Apple Pay and Google's (GOOG) Android Pay. Reference Link
16:11 EDTPEPStarbucks, PepsiCo enter agreement for Latin America
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05:08 EDTWMTWal-Mart acquires remaining shares of Yihaodian
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July 22, 2015
13:25 EDTWMTWal-Mart to end overnight hours at certain stores, Bloomberg reports
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08:38 EDTTGT, WMTNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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July 21, 2015
16:21 EDTPEPRuby Tuesday appoints David Skena as Chief Marketing Officer
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10:01 EDTPEPOn The Fly: Analyst Initiation Summary
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July 20, 2015
16:39 EDTPEPPepsiCo initiated with a Buy at Sterne Agee CRT
Target $108.
13:46 EDTTGT, WMTAmazon seen eclipsing Macy's as top U.S. clothing retailer
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July 19, 2015
18:13 EDTTGTMacy's considered, rejected sale/lease-backs in past, WSJ says
Macy's (M) executives have considered sale/lease-backs "over the years" and have come to negative conclusions, reports the Wall Street Journal, citing people familiar with the company. The report comes in the wake of Starboard Value pressuring Macy's to spin off its real estate, and sources said the activist investor sees several options, including a REIT, a Hudsonís Bayís-style real estate partnership, a sale/lease-back, or borrowing money against the properties. Separately, a source said Target (T) is still reluctant to relinquish control over its real estate. Reference Link

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