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Stock Market & Financial Investment News

News Breaks
February 26, 2013
12:27 EDTTGTEarnings Preview: Target sees Q4 EPS at low end of $1.64-$1.74 view
Target (TGT) is scheduled to report Q4 before the market open on Wednesday, February 27, with a conference call scheduled for 10:30 am ET. Target offers merchandise at discounted prices through its retail stores and online business... EXPECTATIONS: Analysts are looking for EPS of $1.48 on revenue of $22.66B, according to First Call. The consensus range for EPS is $1.45-$1.54 on revenue of $21.94B-$23.12B... LAST QUARTER: Target reported Q3 adjusted EPS of 90c against estimates for 79c on revenue of $16.B against estimates for $16.93B. The company forecast Q4 adjusted EPS $1.64-$1.74 and also guided FY adjusted EPS $4.75-$4.85. In early January, Target said it expected that Q4 EPS would meet or somewhat exceed the low end of its prior view. During the quarter, the retailer reported December "essentially flat" same-store sales and said January SSS increased 3.1%. Target hired Jason Goldberger as senior VP of Target.com and Mobile, which Wells Fargo said was a significant developing, signalling Target's increased focus on eCommerce and a willingness to hire outside the organization. RadioShack (RSH) announced the end of its relationship with Target where it helps operate Target Mobile in 1,500 Target stores, effective April 8. Target also said it would price match top online retailers year-round, including Amazon.com (AMZN), Walmart.com (WMT), BestBuy.com (BBY) and Toysrus.com... STREET RESEARCH: Despite the weak holiday season, MKM Partners said it expects Target will report "solid" profits, adding that the pickup in January was "encouraging". The firm expects Target Canada to be accretive in 4Q13 and sees the completion of the sale of Target's credit card portfolio in 1H. Piper Jaffray sees Target reporting Q4 GAAP earnings about $1.48. Cowen recently initiated Target with a Neutral rating... PRICE ACTION: Year-to-date, Target shares are up about 7.5%. In mid-day trading today, ahead of tomorrow's earnings report, shares are up almost 1.5%.
News For TGT 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 24, 2015
06:37 EDTTGTWal-Mart increases offerings in baby category
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July 23, 2015
19:24 EDTTGTWal-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
July 22, 2015
08:38 EDTTGTNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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July 20, 2015
13:46 EDTTGTAmazon 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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