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Stock Market & Financial Investment News

News Breaks
November 29, 2012
12:05 EDTAAP, RIMM, M, BKS, BLOX, TGT, LQDT, ARO, JWN, GPS, KSS, LTD, TIF, GESOn 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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February 20, 2015
07:20 EDTTGTWal-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
07:10 EDTJWNBrean Capital to hold a bus tour
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February 19, 2015
16:10 EDTJWNNordstrom down 3% after FY15 earnings miss expectations
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16:09 EDTJWNNordstrom sees FY15 EPS $3.65-$3.80, consensus $4.11
Sees FY15 net sales up 7%-9%, consensus $14.54B. Sees FY15 comparable sales up 2%-4%. Earnings per diluted share growth in the first half of FY15 is expected to be below the full-year outlook range of a 2 percent decrease and 2 percent increase, primarily due to store pre-opening expenses and the full year impact of the Trunk Club acquisition.
16:07 EDTJWNNordstrom reports Q4 EPS $1.32, consensus $1.35
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15:32 EDTJWNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Public Storage (PSA), consensus $2.19... Intuit (INTU), consensus (13c)... Consolidated Edison (ED), consensus 55c... Nordstrom (JWN), consensus $1.35... Mohawk Industries (MHK), consensus $2.21... Newmont Mining (NEM), consensus 10c... Frontier Communications (FTR), consensus 5c... Brocade Communications (BRCD), consensus 24c... Bruker (BRKR), consensus 29c... Rovi (ROVI), consensus 41c... Marvell Technology (MRVL), consensus 24c... MRC Global (MRC), consensus 46c... Equinix (EQIX), consensus $1.03.
15:07 EDTJWNNordstrom February 77 straddle priced for 4.2% movement into Q4
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13:32 EDTJWNNordstrom February volatility increases into Q4 and outlook
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06:55 EDTMMacy's March volatility elevated into Q4 and outlook
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February 18, 2015
11:41 EDTGESPiper cuts Guess to sell following Fossil disappointment
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11:00 EDTGESGuess falls sharply, levels to watch
The shares have spiked lower, dropping 2.7% to $18.30. At that price, next support is at the 52-week low at $17.67. Resistance is at $18.68, the opening price of the day. Piper Jaffray downgraded the shares to Underweight.
10:56 EDTGESGuess downgraded to Underweight from Neutral at Piper Jaffray
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03:20 EDTMOn The Fly: Analyst Initiation Summary
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February 17, 2015
16:34 EDTLQDTLiquidity Services selected by Hallmark Cards
Liquidity Services has been selected by Hallmark Cards, to conduct a private treaty event for equipment considered surplus to ongoing operations for Hallmark. The assets consist mostly of industrial manufacturing equipment from Hallmark’s existing Party Supply Manufacturing division at their facility in Leavenworth, Kansas, USA.
10:00 EDTMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Box, Inc. (BOX) initiated with a Hold at Canaccord... Euronav NV (EURN) initiated with an Overweight at Morgan Stanley... GoPro (GPRO) initiated with an Outperform at Northland... M/A-COM (MTSI) initiated with a Neutral at BofA/Merrill... Macy's (M) initiated with an Underweight at Barclays... NetSuite (N) initiated with an Underperform at Exane BNP Paribas... Omega Healthcare (OHI) initiated with a Neutral at BofA/Merrill... Pandora (P) initiated with a Neutral at Macquarie... Pattern Energy (PEGI) coverage resumed with an Outperform at BMO Capital... Regeneron (REGN) initiated with an Outperform at Bernstein... Trovagene (TROV) initiated with an Overweight at Piper Jaffray... Vista Outdoor (VSTO) initiated with a Market Perform at Cowen.
10:00 EDTJWNOn The Fly: Analyst Downgrade Summary
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06:56 EDTLQDTLiquidity Services awarded contract extension by DLA
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06:34 EDTAAPAdvance Auto Parts pullback a buying opportunity, says JPMorgan
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04:58 EDTJWN, MNordstrom downgraded to Underweight from Equal Weight at Barclays
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04:54 EDTMMacy's initiated with an Underweight at Barclays
Barclays started shares of Macy's with an Underweight rating saying it expects comps to remain under 2% as the retailer lacks exposure to the growing off-price segment. The firm put a $55 price target on shares. Shares of Macy's closed Friday down 34c to $64.32.
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