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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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July 1, 2015
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 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
09:03 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 19, 2015
16:24 EDTTGTStocks end week higher after Fed reassures on gradual pace of rate increases
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