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Stock Market & Financial Investment News

News Breaks
August 27, 2013
09:21 EDTTIF, LDK, DSW, AKRX, NOK, JCP, BWS, MOV, CPRX, SAFM, HITKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tiffany & Co. (TIF), up 1%... Movado Group (MOV), up 5%... Brown Shoe Company (BWS), up 4.4%... DSW (DSW), up 2%... Sanderson Farms (SAFM), up 2.3%... ALSO HIGHER: Catalyst Pharmaceutical (CPRX), up 64% after receiving breakthrough therapy designation by FDA... Akorn (AKRX), up 7% after agreeing to buy Hi-Tech Pharmacal (HITK). Hi-Tech also up 22%... DOWN AFTER EARNINGS: LDK Solar (LDK), down 12%. LOWER: J.C. Penney (JCP), down 2% after Bill Ackman's Pershing Square sells 39M shares... Acura Pharmaceuticals (ACUR), down 23.5% after results for a clinical trial's primary endpoint were not statistically significant... Nokia (NOK), down 3.6% after Deutsche Bank says company possibly facing another restructuring.
News For TIF;MOV;AKRX;HITK;BWS;DSW;SAFM;JCP;LDK;CPRX;NOK From The Last 14 Days
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January 20, 2015
06:22 EDTJCPJ.C. Penney to bring back 120-page catalog, WSJ reports
J.C. Penney has decided to resurrect its catalog in the form of a 120-page book that will mark the first catalog the chain has sent out since 2010, The Wall Street Journal reports. The retailer, which quit the catalog amid a broader pullback caused by the recession and the rise of e-commerce, now believes the catalog can help drive web sales. Reference Link
January 16, 2015
10:01 EDTTIFOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 21st Century Fox (FOXA) initiated with a Buy at Stifel... Arista Networks (ANET) initiated with a Neutral at Buckingham... Boston Beer (SAM) initiated with a Buy at Jefferies... Brocade (BRCD) initiated with a Neutral at Buckingham... CBS (CBS) initiated with a Buy at Stifel... Cabela's (CAB) initiated with an Outperform at Raymond James... Coach (COH) initiated with a Market Perform at Bernstein... Costco (COST) initiated with an Outperform at BMO Capital... Crane (CR) initiated with a Hold at Canaccord... Flowserve (FLS) initiated with a Neutral at Susquehanna... Fortinet (FTNT) initiated with a Buy at Buckingham... Gap (GPS) initiated with a Market Perform at Bernstein... GrubHub (GRUB) initiated with a Buy at Stifel... Imperva (IMPV) initiated with a Neutral at Buckingham... KLX Inc. (KLXI) initiated with a Sector Perform at RBC Capital... KNOT Offshore Partners (KNOP) initiated with a Buy at UBS... L Brands (LB) initiated with a Market Perform at Bernstein... Michael Kors (KORS) initiated with an Outperform at Bernstein... Northstar Realty (NRF) initiated with a Buy at Sterne Agee... OmniVision (OVTI) initiated with a Buy at Rosenblatt... Qorvo (QRVO) initiated with a Buy at Brean ... RSP Permian (RSPP) initiated with an Outperform at Northland... Ross Stores (ROST) initiated with a Market Perform at Bernstein... SPX Corp. (SPW) initiated with a Neutral at Susquehanna... TJX (TJX) initiated with an Outperform at Bernstein... Tiffany (TIF) initiated with a Market Perform at Bernstein... Viacom (VIAB) initiated with a Buy at Stifel... Xylem (XYL) initiated with a Neutral at Susquehanna... iGATE (IGTE) initiated with a Buy at Deutsche Bank... lululemon (LULU) initiated with an Outperform at Bernstein.
09:34 EDTDSWLeonard Green discloses stakes in Foot Locker, DSW
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January 15, 2015
17:36 EDTAKRXAkorn's generic Durezol patent challenged
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17:08 EDTTIFTiffany initiated with a Market Perform at Bernstein
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January 13, 2015
10:20 EDTTIFTiffany test support of long-term uptrend, levels to watch
The stock was hammered yesterday after the company cut its FY14 EPS view to a range of $4.15 to $4.20. Today the downtrend continues with the shares last at $88.08. At that price the bottom of the bullish price channel that began in June 2012 is being tested. A breakdown below $88 would be long-term bearish for price. Next support below $88 is at $85.69. Resistance is at $89.01.
10:17 EDTJCPOptions with decreasing implied volatility
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09:45 EDTTIFTiffany downgraded to Equal Weight from Overweight at Stephens
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January 12, 2015
17:14 EDTAKRXOak Ridge Investments reports 4.03% passive stake in Akorn
12:04 EDTSAFMUSDA raises 2015 meat production forecast
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11:41 EDTTIFTiffany plummets after cutting fiscal 2014 profit outlook
Shares of jewelry and accessories retailer Tiffany (TIF) are sinking after the company lowered its profit outlook for fiscal 2014. Additionally, the company reported holiday sales for the two-month period ended December 31 were 1% below prior year levels. WHAT'S NEW: Tiffany this morning reported sales results for the two-month holiday period ended December 31. For the period, the company reported worldwide net sales of $1.02B, 1% below the prior year. Worldwide net sales increased 3% and comparable sales were even with the prior year on a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars. WHAT'S NOTABLE: Tiffany cut its FY14 net earnings per share view to $4.15-$4.20 from $4.20-$4.30, trailing analysts' consensus estimates of $4.32. Tiffany President and Chief Executive Officer Federic Cumenal said that the company is planning "cautiously" for the coming year. Cumenal noted that the company anticipates "significant headwinds from the stronger U.S. dollar against all of our key currencies that, as we experienced in the holiday period, negatively affects both the translation of results and sales to tourists in the U.S." Cumenal said that these factors are expected to result in the company planning low-to-mid single-digit sales and earnings growth in 2015. Cumenal also commented that "Despite these and other global economic pressures that we anticipate in the short-term, we believe that, when they abate, Tiffany will resume higher earnings growth rates based on stronger sales growth and increasing operating margins." ANALYST REACTION: This morning, research firm Sterne Agee lowered its price target for Tiffany to $110 from $121 citing the company's "disappointing" holiday comps and "soft" initial 2015 guidance. However, he firm kept a Buy rating on the name, and said it is encouraged by the company's relative strength in Asia-Pacific and Europe. PRICE ACTION: In late morning trading, Tiffany fell $12.15, or about 11.7%, to $91.30 on more than three times its average daily trading volume. Despite today's pull back, the shares have gained approximately 1% over the past 12 months. OTHERS TO WATCH: Tiffany & Co peers include Signet Jewelers (SIG), down 0.6%, and Blue Nile (NILE), down 2.2%.
10:17 EDTTIFTiffany price target lowered to $110 from $121 at Sterne Agee
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10:15 EDTTIF, JCPOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:30 EDTTIFOn The Fly: Pre-market Movers
HIGHER: Foundation Medicine (FMI) up 138.9% following transaction with Roche (RHHBY)... Celator Pharmaceuticals (CPXX), up 19.1% after announcing promising Phase 2 data for CPX-351... Second Sight (EYES), up 16.7% after Health Canada approves Argus II retinal prosthesis system... Aegerion (AEGR), up 7.8% after reporting preliminary fourth quarter results and guidance... Express (EXPR), up 4.5% after reporting preliminary fourth quarter results. NOTABLE: NPS Pharmaceuticals (NPSP), up 8.5% following acquisition by Shire (SHPG)... Shire is down 1.1% in pre-market trading. LOWER: Arrowhead (ARWR), down 20.9% after FDA clears company to begin modified study of ARC-520 in a preliminary call of a partial clinical hold... Tiffany (TIF), down 10.4% after lowering fiscal 2014 net EPS guidance... SanDisk (SNDK), down 10.1% after lowering fourth quarter outlook... Ascena Retail (ASNA), down 5.8% after lowering fiscal 2015 adjusted EPS view... Sarepta Therapeutics (SRPT), down 5.9% after reporting long-term outcomes from Phase IIb Eteplirsen study... Loral Space & Communications (LORL), down 3.6% following a NY Post article that reported that talks to sell itself to the Ontario Teachers’ Pension Plan have ended... Southwestern Energy (SWN), down 4.2% after filing to sell 20.3M shares of stock and 26M depository shares.
08:30 EDTCPRXCatalyst Pharmaceutical announces FY15 goals
Catalyst Pharmaceutical announced the company's 2015 goals for its product portfolio. Firdapse has been granted Breakthrough Therapy and Orphan Drug Designations by the FDA for the treatment of Lambert-Eaton Myasthenic Syndrome, or LEMS, and reported positive results from its Phase 3 clinical trial evaluating Firdapse for the treatment of LEMS in September 2014. The company has also initiated an expanded access program, or EAP, under which patients with LEMS and Congenital Myasthenic Syndrome, or CMS, who meet the inclusion/exclusion requirements, have access to Firdapse via the EAP, at no charge to the patients. Catalyst expects to meet with the FDA for its pre-NDA meeting in Q1, to begin its rolling NDA submission for Firdapse for the treatment of LEMS sometime thereafter and to complete its NDA submission sometime in Q3. Catalyst expects to achieve the following key milestones in the upcoming year: The company will continue to focus on pre-commercial activities ahead of an estimated approval and launch of Firdapse in 1H16.
07:47 EDTTIFTiffany volatility elevated into lower 2014 earnings outlook
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07:35 EDTJCPNational Retail Federation to hold a trade show
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07:04 EDTTIFTiffany cuts FY14 net EPS view to $4.15-$4.20 from $4.20-$4.30
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07:03 EDTTIFTiffany reports holiday period worldwide net sales $1.02B
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06:35 EDTJCPObama to press for law requiring disclosure of hacking, NY Times says
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