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Stock Market & Financial Investment News

News Breaks
November 29, 2012
12:05 EDTBKS, BLOX, TGT, LQDT, ARO, JWN, AAP, RIMM, M, LTD, TIF, GES, GPS, KSSOn The Fly: Midday Wrap
Stocks on Wall Street were higher throughout the morning but fell sharply after tough words from House Speaker John Boehner aimed at Democrats and the White House. The initial reading on gross domestic product growth in the third quarter was revised up and October pending home sales were higher than expected, but the economic data was largely overshadowed by the ongoing political drama that continues to drive the market's swings. The averages quickly recovered a bit after the end of Boehner's press conference but head into the second half of the trading day well off their earlier highs... ECONOMIC EVENTS: In the U.S., weekly jobless claims dropped 23,000 from last week's upwardly revised level to 393,000, versus expectations for claims to fall to 390,0000. The Commerce Department revised its estimate for the gain in Q3 GDP to 2.7% from the previously reported 2% gain. Analysts expected growth to be revised to a 2.8% rate. However, within the report, Q3 consumer spending was lowered to a 1.4% growth rate from the 2% gain previously reported. Pending home sales rose 5.2% in October from the prior month, versus expectations for an increase of 1%. In Europe, the Bank of England urged commercial banks to bolster their capital levels. Also, the European Commission's monthly business and consumer survey showed a measure of economic sentiment rose to 85.7, beating forecasts, with Germany and France gaining strongly... COMPANY NEWS: Among retailers reporting November same store sales, Limited (LTD) was one of the few to beat expectations and its shares advanced 1%. Among those declining after reporting worse than expected November comparable sales were Kohl's (KSS), Gap (GPS), Macy's (M), Target (TGT) and Nordstrom (JWN)... Several retail stocks also moved following earnings reports, with Tiffany (TIF) and Aeropostale (ARO) among the notable decliners. Guess (GES), however, advanced after its quarterly report and the declaration of a $1.20 per share special dividend... MAJOR MOVERS: Among the notable gainers were Infoblox (BLOX), up 36% following its better than expected earnings and guidance, and Research in Motion (RIMM), up 6% after Goldman Sachs raised its rating on shares to Buy with a $16 price target. Among the noteworthy losers were Liquidity Services (LQDT), down 17%, and Barnes & Noble (BKS), down 10%, after their earnings reports. Also lower were shares of Advance Auto Parts (AAP), down 6% after Reuters and the New York Post said private equity bids for the company fell short of Advance's expectations, and that a sale may now be unlikely... INDICES: Near noon, the Dow was down 1.11, or 0.01%, to 12,984.00; the Nasdaq was up 9.83, or 0.33%, to 3,001.61; and the S&P 500 was up 2.09, or 0.15%, to 1,412.02.
News For TIF;KSS;GES;LTD;GPS;JWN;TGT;M;ARO;BLOX;RIMM;LQDT;BKS;AAP From The Last 14 Days
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July 29, 2015
07:01 EDTTIFTiffany initiated with a Buy at Mizuho
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06:04 EDTAROAeropostale downgraded to Sell from Neutral at UBS
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July 28, 2015
10:00 EDTMOn The Fly: Analyst Downgrade Summary
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09:00 EDTMMacy's downgraded to Sell due to 'speculative froth' at Gilford Securities
As previously reported, Gilford Securities downgraded Macy's two notches to Sell from Buy. Analyst Bernard Sosnick would use the "speculative froth" in the stock to take profits at attractive prices. Macy's shares rose to a high when Starboard Value announced its belief that Macy's is worth $125 per share based on real estate monetization. Sosnick believes its a "fool's errand" to hold on to shares for real estate value extraction and expects the speculative premium in the stock to disappear.
08:45 EDTMMacy's downgraded to Sell from Buy at Gilford Securities
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July 27, 2015
09:08 EDTJWNNordstrom expands Madewell partnership to 15 additional stores
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July 24, 2015
17:33 EDTBKSS&P announces changes to S&P 400, 500, and 600 indices
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10:00 EDTMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abaxis (ABAX) downgraded to Hold from Buy at Canaccord... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at Dougherty... CF Industries (CF) downgraded on nitrogen outlook at RBC Capital... Capital One (COF) downgraded to Neutral from Overweight at JPMorgan... Cepheid (CPHD) downgraded to Sell from Hold at Evercore ISI... Constant Contact (CTCT) downgraded to Neutral from Outperform at Baird... Equifax (EFX) downgraded to Neutral from Outperform at Baird... Hannover Re (HVRRY) downgraded to Underweight from Neutral at JPMorgan... IAMGOLD (IAG) downgraded to Underperform from Market Perform at Raymond James... MSA Safety (MSA) downgraded to Neutral from Accumulate at Global Hunter... MTU Aero (MTUAY) downgraded to Underperform from Buy at BofA/Merrill... Macy's (M) downgraded to Underweight from Neutral at Atlantic Equities... Sunesis (SNSS) downgraded to Hold from Buy at Cantor... Superior Drilling (SDPI) downgraded to Hold from Buy at Wunderlich... TrueCar (TRUE) downgraded to Equal Weight from Overweight at Stephens... United Rentals (URI) downgraded to Outperform from Top Pick at RBC Capital... WESCO (WCC) downgraded to Equal Weight from Overweight at Stephens.
06:45 EDTMMacy's downgraded to Underweight from Neutral at Atlantic Equities
Atlantic Equities analyst Danlela Nedlalkova downgraded Macy's to Underweight with a $64 price target based on expectations of weaker topline trends. Nedlalkova said recent industry commentary and data and global tourist spending decline will likely weigh on Q2 results. The analyst believes annual comp guidance of 2% is likely optimistic with Q1 comps at (0.1%) and expectations for about a flat comp in Q2, indicating 2H comps need to accelerate to 3%-4% to meet guidance. Nedlalkova said shares have been supported by speculation of real estate monetization, but with shares at historic levels, the analyst expects weaker operating results to pressure the stock.
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
16:57 EDTLQDTLiquidity Services appoints Jorge Celaya as CFO
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July 22, 2015
08:38 EDTM, TGT, KSS, JWNNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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July 21, 2015
16:14 EDTLQDTLiquidity Services receives three months extension for contract with DLA
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06:07 EDTGPSONUG: Yahoo hires VP of global network from Symantec
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July 20, 2015
13:46 EDTTGT, MAmazon seen eclipsing Macy's as top U.S. clothing retailer
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13:18 EDTAROOptions with increasing call volume
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08:33 EDTBKSBarnes & Noble says Nook Consumer business president Verrina to leave company
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08:32 EDTBKSBarnes & Noble names Frederic Argir as Chief Digital Officer
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08:08 EDTMMacy's price target to $78 on likelihood of a REIT transaction at BofA/Merrill
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