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Stock Market & Financial Investment News

News Breaks
July 31, 2014
12:58 EDTWMT, TGT, PEPAnalysts 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 nation’s 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 6, 2015
06:25 EDTWMTWal-Mart to begin online grocery pickup service in Ottawa, Global and Mail says
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July 2, 2015
08:08 EDTWMTMcCormick should be bought on weakness, says Bernstein
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July 1, 2015
13:40 EDTPEPPepsiCo volatility increases into Q2 and outlook
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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.
June 30, 2015
07:29 EDTWMTNon-profit group: Wal-Mart made deceptive ‘Made in the USA’ claims
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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.
07:51 EDTPEPPepsiCo volatility at 15 into Q2 and outlook
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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
09:03 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.
June 24, 2015
06:22 EDTWMTWal-Mart to charge fees to ‘almost all’ vendors, Reuters reports
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June 23, 2015
18:04 EDTWMTWal-Mart poaches technology talent from eBay, WSJ says
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16:29 EDTWMTOn The Fly: Top stock stories for Tuesday
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13:37 EDTWMTOn The Fly: Top stock stories at midday
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07:05 EDTWMTGreen Dot price target raised to $24 from $22 at Piper Jaffray
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06:31 EDTWMTGreen Dot contract terms better than feared, says JPMorgan
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June 22, 2015
19:00 EDTWMTOn The Fly: After Hours Movers
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16:33 EDTWMTGreen Dot rallies sharply on Walmart deal
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16:28 EDTWMTGreen Dot up 27% after announcing deal with Wal-Mart
16:02 EDTWMTGreen Dot to remain program manager for Walmart
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