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Stock Market & Financial Investment News

News Breaks
August 5, 2014
12:06 EDTTGTTarget slides after cutting Q2 profit view citing breach, discounts
Shares of Target (TGT) are falling after the company pre-announced second quarter profits that were far below its previous guidance. The retailer estimated that the after-effects of its December 2013 data breach cost it $110M in the second quarter. WHAT'S NEW: Target 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. Analysts' consensus estimate was 91c. 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. Meanwhile, the retailer estimated that its December 2013 data breach cost it $148M in Q2, adding that the expenses would be offset by $38M in insurance payments. ANALYST REACTION: In a note to investors, Wells Fargo wrote that the costs related to the data breach are on track to come in well below the $1B that some had initially feared. Wells kept an Outperform rating on the shares. RW Baird calculated that the company has recognized $145M in net data breach costs in total, which the firm also believes is below what many investors had initially feared. Baird thinks that Target may see better results later in 2014 and could restart its share buybacks at some point in the second half of the year, but sees stiff competition in Target's space. The firm maintains its Neutral rating on the stock. PRICE ACTION: Near noon, Target dropped $1.74, or 2.9% to $58.95.
News For TGT From The Last 14 Days
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November 19, 2014
12:21 EDTTGTTarget CEO says 'not happy' with Target Canada performance
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11:08 EDTTGTTarget sees Q4 as 'notable infelction point'
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11:08 EDTTGTTarget says November sales so far running above plan, but still early in season
Says saw positive comps in all three months of quarter. Says saw strong start to back to school, back to college season. Says sales slowed entering October, but recovered at the end of the month. Says omnichanel, flexible fulfillment capabilities "key" to long-term success. Says smaller format stores present "exciting" opportunity for company. Says company must continue to find cost savings opportunities in years to come. Says traffic trend has improved in every quarter this year. Confident in plans for upcoming holiday season. Doesn't anticipate share repurchase in Q4. Says "feels good" about current U.S. inventory levels. Expects competitive environment to remain highly promotional this holiday season. Sees Q4 gross margin improving y/y. Says November sales so far running above plan, but still early in season. Sees Q4 U.S. SSS up about 2%. Comments made on the Q3 earnings conference call. Target shares are up 5.64% to $71.38 in morning trading.
09:16 EDTTGTOn The Fly: Pre-market Movers
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08:03 EDTTGTTarget sees FY14 adjusted EPS $3.15-$3.25, consensus $3.19
Full-year 2014 GAAP EPS is expected to be (45) cents below Adjusted EPS, reflecting: Pre-tax early debt retirement losses, recognized in interest expense, of $285 million, or (27) cents per share; Year-to-date net pre-tax data breach expenses of $140 million, or (14) cents per share; Pre-tax impairment losses of $31 million, or (3) cents per share; Pre-tax expense of $13 million, or (1) cent per share, related to Targetís decision to convert existing co-branded cards to MasterCard chip-enabled cards in 2015, and; A (5)-cent per share impact related to the expected reduction of the beneficial interest asset, partially offset by; A benefit of 5 cents per share from the favorable resolution of various income tax matters. GAAP EPS guidance does not include an estimate of future data breach-related expenses, which are not expected to be material in any individual period.
08:02 EDTTGTTarget sees Q4 adjusted EPS $1.13-$1.23, consensus $1.22
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08:02 EDTTGTTarget reports Q3 U.S. segment SSS up 1.2%
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08:00 EDTTGTTarget reports Q3 adjusted EPS 54c, consensus 47c
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November 18, 2014
15:41 EDTTGTTarget November 67.5 straddle priced for 3.8% move into Q3
15:21 EDTTGTNotable companies reporting before tomorrow's open
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15:08 EDTTGTTarget technical comments ahead of results
The stock in the past three months has outperformed the broader averages, trading up over 14%. Most of that outperformance has been in recent days leading up to earnings. That move broke the shares out of a very narrow trading range that had persisted for two months. With the shares trading close to the 52-week high at $68.28, strong positive news or an upside surprise could propel the stock through that level and to the lifetime high at $73.50. A failure to break through the $70 area, particularly on a negative surprise, could leave the shares vulnerable to a larger than normal correction. On a long-term basis a failure at $70 would be a third attempt up that failed at resistance. Support levels to watch as potential downside objectives would be at $64.65, $61.46, and $59.57. The low of the range prior to the recent breakout was at $54.66, which is the 52-week low.
12:44 EDTTGTEarnings Preview: Target sees FY14 adjusted EPS view of $3.10-$3.30
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07:53 EDTTGTTarget November volatility elevated into Q3 and outlook
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November 17, 2014
14:21 EDTTGTEarnings Preview: Home Depot shares up over 17% since last earnings report
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07:42 EDTTGTTarget looks to put massive breach in rear-view one year later, WSJ says
Encouraging signs are appearing for Target as the company looks to put its massive data breach in the rear view mirror about one year later as it reports earnings this Wednesday, said The Wall Street Journal's "The Week Ahead" column. Target shares are near 2014 highs after analysts have recently reported a pickup in foot traffic at its stores, the article noted. Reference Link
November 14, 2014
07:44 EDTTGTTarget November volatility elevated at 29 into Q3 and outlook
Target November call option implied volatility is at 29, December is at 21, January is at 16; compared to its 26-week average of 19 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 19.
November 12, 2014
07:37 EDTTGTTarget shares overvalued, says MKM Partners
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November 10, 2014
10:04 EDTTGTOn The Fly: Analyst Upgrade Summary
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08:08 EDTTGTTarget upgraded at Stifel
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05:54 EDTTGTTarget upgraded to Buy from Hold at Stifel
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