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Stock Market & Financial Investment News

News Breaks
April 28, 2014
07:19 EDTMFRM, HBI, TIF, SSI, DECK, M, PVH, VFC, ANN, WMTNomura to hold a conference
Consumer Conference is being held in New York on April 28.
News For TIF;ANN;M;HBI;VFC;DECK;MFRM;PVH;SSI;WMT From The Last 14 Days
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February 24, 2015
06:21 EDTWMTWal-Mart de Mexico announces retirement of CFO Rafael Matute
Wal-Mart de Mexico announces that its board approved Rafael Matute's decision to retire from the company, after having served for 17 years as CFO, and the appointment of Pedro Farah as the new CFO. The changes will be effective June 1 and Matute will stay until July 31 to help with the transition. Farah is currently CFO of Walmart Latin America.
05:57 EDTMStocks with implied volatility movement; AMAT M
Stocks with implied volatility movement; Applied Materials (AMAT) 43, Macy's (M) 28 according to iVolatility.
February 23, 2015
15:23 EDTMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 78c... Home Depot (HD), consensus 89c... American Tower (AMT), consensus 51c... Ecolab (ECL), consensus $1.20... Macy's (M), consensus $2.40... Pall Corp. (PLL), consensus 87c... Windstream (WIN), consensus 3c.
14:03 EDTMMacy's technical comments before earnings release
The shares are in a topping pattern, with the $62 area a key support level. If there were a break below $62, the topping pattern would be confirmed. Next support in that event would be at $60.57, and then at $59 to $57.03. If the news is a positive surprise, next resistance would be at $65.74 and then at the 52-week high and life high at $68.30.
13:56 EDTMEarnings Preview: Macy's sees FY14 EPS $4.35-$4.37, SSS up 2.5%
Macy's (M) is scheduled to report fourth quarter earnings before the market open on Tuesday, February 24, with a conference call scheduled for 10:30 am ET. Macy's is a retailer that sell a range of merchandise, including apparel and accessories, cosmetics, home furnishings and other consumer goods. EXPECTATIONS: Analysts are looking for earnings per share of $2.40 on revenue of $9.4B, according to First Call. The consensus range for EPS is $2.21-$2.59 on revenue of $9.32B-$9.56B. LAST QUARTER: Macy's reported third quarter EPS of 61c, above estimates for 50c, on revenue of $6.2B, slightly below estimates for $6.34B. Same-store sales, together with comparable sales of departments licensed to third parties, were down 0.7% from the prior year. Q3 comparable sales exclusive of licensed businesses were down 1.4%. Macy's chairman and Chief Executive Officer Terry Lundgren said the company was "optimistic" for Q4, though the company commented on the Q3 earnings conference call that it was "not counting on a lot of help from the economy" for the holiday season. Macy's said Q4 gross margin "could be flat or could be down." NEWS: In early February, Macy's raised its fiscal year 2014 EPS view to $4.35-$4.37 from its previous outlook of $4.25-$4.35. Estimates at that time called for FY14 EPS of $4.35. Macy's said the outlook excludes charges of approximately $100M-$110M related to the previously announced merchandising and marketing restructuring, store and field adjustments, store closings and asset impairment charges, as well as approximately $17M of interest expense related to the make-whole premium for the previously announced early retirement of debt. Macy's said Q4 comparable sales growth on an owned plus licensed basis was 2.5%. This calculates to growth in comparable sales on an owned plus licensed basis 2014 of 1.4%. On an owned basis, Q4 comparable sales were 2%. The retailer said its Q4 performance represents a "strengthening trend" from Q3 and spring season. The company said Jeff Gennette, president of Macy’s, will oversee Macy’s merchandise planning, as well as maintain oversight responsibility for merchandising and marketing of Macy’s stores and digital, and private brand product development. Gennette relinquished his day-to-day responsibilities as Macy’s chief merchandising officer. Peter Sachse, Macy’s chief stores officer since 2012, moved to a new role as Macy’s Chief for Innovation and Business Development. Jeff Kantor, previously chairman of macys.com, was named Macy’s Chief Stores Officer. The company also said R.B. Harrison would continue in his role as Macy’s. Chief Omnichannel Officer and that Julie Greiner, Macy’s Chief Merchandise Planning Officer since 2009, will retire from the company in August. During the quarter, Macy's said it would close 14 stores and restructure merchandising and marketing functions at Macy’s and Bloomingdale’s. In conjunction with the merchandising and marketing restructuring and store and field adjustments, as well as store closings and asset impairment charges, an estimated $100M-$110M of charges, of which approximately $80M-$90M is expected to be cash, will be booked in Q4. The retailer named RLJ Lodging Trust (RLJ) Chief Financial Officer Leslie Hale to its board of directors, sued Strategic Marks after the company attempted to acquire certain Macy's brand names and acquired Bluemercury for $210M in cash. STREET RESEARCH: Morgan Stanley downgraded Macy's to Equal Weight and removed shares from the Best Ideas List based on share and earnings outperformance. The analyst believes valuation appropriately values Macy's superior execution and sees balanced risk/reward going forward. Evercore ISI initiated Macy's with a Buy and $74 price target given its scale and stability, competitive advantages, strong vendor relationships and significant cash-flow generation. During the quarter, Macy's was also downgraded to Neutral from Buy at Northcoast. PRICE ACTION: Over the last three months, Macy's shares are up fractionally. In afternoon trading, he stock is down 0.3% to $63.51 ahead of Tuesday's report.
10:50 EDTWMTWal-Mart to host 2015 Global Sustainability Milestone Meeting
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February 22, 2015
15:31 EDTWMTMcDonald's under pressure to raise hourly pay as Wal-Mart sets bar, Reuters says
According to labor experts McDonald's (MCD) and its franchisees may be under pressure to raise hourly wages as the improved economic landscape increases competition for good workers and as retailer Wal-Mart (WMT) raises its hourly pay, says Reuters. Reference Link
February 20, 2015
16:48 EDTWMTDow, S&P 500 finish week at record highs after Greek deal reached
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16:03 EDTWMTOptions Update; February 20, 2015
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13:20 EDTWMTAnalysts divided on Wal-Mart after results, pay raise announcement
Barclays cut its rating on Wal-Mart (WMT) this morning after the world's largest retailer reported its quarterly results and gave forward looking guidance yesterday. However, research firm Janney Capital wrote in a note to investors that it believes shares of Wal-Mart will probably outperform going forward, as other retailers are likely to implement wage hikes similar to the one that the giant discounter announced. BACKGROUND: Yesterday Wal-Mart announced that it would raise the wages of all of its employees to at least $10 per hour by February 2016. The company also reported higher than expected fourth quarter profits, excluding certain items, but its Q4 revenue came in below expectations. Moreover, the retailer provided lower than expected profit guidance for its fiscal 2016 and lowered its fiscal 2016 sales growth guidance to 1%-2% from its previous outlook of 2%-4%. Wal-Mart's stock fell significantly yesterday after the quarterly report. ANALYST REACTION: Barclays lowered its rating on Wal-Mart to Equal Weight from Overweight and dropped its price target for shares to $85 from $90. The firm says the retailer's investments to improve the shopping experience at its U.S. stores will continue into FY17 and are unlikely to produce near-term benefits. It believes Wal-Mart's Q4 domestic comps were aided by lower gas prices and easy weather comparisons, and notes that weather is unlikely to help in FY16. Meanwhile, Janney Capital analyst David Strasser said Wal-Mart's stock dropped because of worries about the company's spending and the hit the company took from negative foreign exchange trends. However, other retailers are likely to implement similar wage hikes, causing the entire sector to come under pressure and enabling Wal-Mart's stock to outperform going forward, according to Strasser. Additionally, Wal-Mart is likely to continue to benefit from higher gas prices in Q1, wrote the analyst, who kept an $89 price target and Buy rating on the shares. PRICE ACTION: In mid-afternoon trading, Wal-Mart added 0.5% to $83.94.
12:49 EDTANNOn The Fly: Midday Wrap
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10:01 EDTWMT, ANNOn The Fly: Analyst Downgrade Summary
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09:38 EDTWMTActive equity options trading on open
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09:23 EDTTIFGoldman sees select Apparel and Footwear opportunities due to FX risk
Goldman said translation currency exposure in the Apparel and Footwear has created volatility and opportunity to gain exposure to this theme. Goldman's analyst sees a positive near-term set-up for Nike (NKE) and Tiffany (TIF) and a negative set-up for Crocs (CROX) and Abercrombie & Fitch (ANF) and of upcoming earnings reports.
09:06 EDTWMTWal-Mart can outperform as peers follow suit on wages, says Janney Capital
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08:13 EDTANNAnn Inc. downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Ann Inc to Neutral based on gross margin concerns. The firm sees incremental shipping costs due to the West Coast situation and promotional activity pressuring results. Price target is $37.
07:20 EDTWMTWal-Mart wage increase may pressure Target, Staples, Reuters says
Wal-Mart's (WMT) wage increase announcement will likely pressure the retail, fast-food, and restaurant sectors to potentially follow suit, reports Reuters, citing an Edward Jones analyst and the managing director of consultancy firm Strategic Resource Group. The analysts specifically named Target (TGT) and Staples (SPLS). Reference Link
06:03 EDTANNAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
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05:54 EDTANNAnn Inc. volatility up into working with JPMorgan on potential sale, report
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05:50 EDTWMTWal-Mart downgraded to Equal Weight from Overweight at Barclays
Barclays cut its rating on Wal-Mart to Equal Weight from Overweight and dropped its price target for shares to $85 from $90. The firm says the retailer's investments to improve the shopping experience at its U.S. stores will continue into FY17 and are unlikely to produce near-term benefits. It believes Wal-Mart's Q4 domestic comps were aided by lower gas prices and easy weather comparisons, and notes that weather is unlikely to help in FY16. The stock closed yesterday down $2.77 to $83.52 after Wal-Mart reported Q4 results.
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