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Stock Market & Financial Investment News

News Breaks
March 26, 2013
12:18 EDTTIF, WSM, DG, LULU, CIEOptions with decreasing implied volatility: TIF WSM DG LULU CIE
News For TIF;WSM;DG;LULU;CIE From The Last 14 Days
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September 29, 2014
16:37 EDTTIFLone Pine Capital reports 5.3% passive stake in Tiffany
08:14 EDTDGDollar General buying Dollar Tree 'not impossible,' says FBR Capital
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06:08 EDTLULUStocks with implied volatility below IV index mean; LULU HD
Stocks with implied volatility below IV index mean; lululemon (LULU) 31, Home Depot (HD) 16 according to iVolatility.
September 26, 2014
18:01 EDTDGAttorneys general investigating effects of proposed Family Dollar merger
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06:09 EDTLULUStocks with implied volatility below IV index mean; LULU HD
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September 24, 2014
11:00 EDTWSMBed Bath & Beyond climbs after Q2 earnings beat expectations
Shares of home decor retailer Bed Bath & Beyond (BBBY) are rising after the company's second quarter earnings per share and revenue surpassed analysts' consensus estimates. WHAT'S NEW: Bed Bath & Beyond's Q2 EPS was $1.17, which was 3c higher than analysts' consensus. The company's Q2 revenue of $2.95B topped analysts' consensus of $2.89B. Same-store-sales for the quarter were up approximately 3.4%. The retailer sees Q3 EPS in the range of $1.17-$1.21, compared with analysts' consensus view of $1.20. Bed Bath & Beyond expects fiscal year 2014 EPS to be between $5.00-$5.08, compared to analysts' view of $5.03. WHAT'S NOTABLE: During the company's conference call, Bed Bath & Beyond said that it was investing "significantly" in its business. It expects FY14 capital expenditures of approximately $350M. The retailer is opening a new distribution facility and is working on a new point of sale system. Bed Bath & Beyond said it is "cautiously optimistic" on its balance for the rest of the year. Next quarter, the company is expecting SSS growth of 2%-3%, and for Q4 it foresees 4%-5% of same-store growth. ANALYST REACTION: Yesterday morning, prior to the release of Bed Bath and Beyond's Q2 earnings report, William Blair analyst Daniel Hofkin downgraded the stock to Market Perform from Outperform. Hofkin cited his continued worries regarding the retailer's above-average exposure to e-commerce competitors. He feels that Bed Bath & Beyond waited too long before developing a strong multichannel platform and that competition from other e-commerce rivals will continue accumulating. He noted that while the company's price premium relative to Amazon (AMZN) has gotten smaller in the past few years, it still is material. Today, UBS analyst Michael Lasser raised his price target on the stock to $68 from $62 after Bed Bath & Beyond reported sales that surpassed expectations. Still, he felt that the good sales numbers occurred at the expense of its margin. He expects the retailer's operating margin decrease to impact the company's PE multiple. Lasser believes that the retailer's Q3 and Q4 comp outlook could be "aggressive," but he noted that he won't have much of an idea about those numbers until early January. He keeps a Neutral rating on the stock. OTHERS TO WATCH: Other companies in the home furnishings space include Williams Sonoma (WSM), Pier 1 Imports (PIR) and Restoration Hardware (RH). PRICE ACTION: During morning trading, Bed Bath & Beyond rose $3.99, or 6.4%, to $66.68.
08:21 EDTTIFTiffany's new CFO to unlock value through P&L initiatives, says Goldman
Goldman said Tiffany's recently appointed CFO Ralph Nicoletti is a new driver of strength and expects him to drive meaningful free-cash-flow improvement by unlocking value in the P&L. The analyst said yesterday's refinancing is just the beginning of initiatives that will unlock value and expects to see sourcing cost reductions, streamlining of lead times, and lower capex, tax rate, and interest expenses. Shares are Buy rated with a $116 price target up from $114.
September 19, 2014
10:06 EDTWSMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abtech Holdings (ABHD) initiated with a Buy at Chardan... Alibaba (BABA) initiated with a Buy at ... Cherokee (CHKE) initiated with a Buy at Brean Capital... Columbia Property Trust (CXP) initiated with a Sell at Goldman... Emerge Energy (EMES) initiated with a Buy at Goldman... GrubHub (GRUB) initiated with a Buy at BofA/Merrill... Iconix Brand (ICON) initiated with a Hold at Brean Capital... Ideal Power (IPWR) initiated with a Buy at Roth Capital... NorthStar Asset Management (NSAM) initiated with a Hold at MLV & Co.... Restoration Hardware (RH) initiated with a Buy at CRT Capital... Sequential Brands (SQBG) initiated with a Buy at Brean Capital... Sprouts Farmers Markets (SFM) initiated with an Overweight at Barclays... Urban Outfitters (URBN) initiated with a Neutral at Buckingham... Williams-Sonoma (WSM) initiated with a Fair Value at CRT Capital... Xcel Brands (XELB) initiated with a Buy at Brean Capital.
07:40 EDTLULUVF Corp. upgraded to Buy, could target lululemon, says KeyBanc
As previously reported, KeyBanc upgraded VF Corp (VFC) to Buy from Hold with an $80 price target. The firm cited momentum at its Timberland brand, VF's strong brand portfolio, and the potential for another large M&A transaction. The analyst said VF Corp. is well positioned to complete another large deal and could target lululemon (LULU). KeyBanc believes lululemon's quality issues, forecasting and store operational challenges play into VF Corp.'s strengths and that such an acquisition would be 10c accretive initially and 80c accretive over time.
September 18, 2014
16:24 EDTWSMWilliams-Sonoma initiated with a Fair Value at CRT Capital
Target $72.
10:40 EDTWSMPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
07:26 EDTCIEDeutsche Bank to hold a conference
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September 17, 2014
17:32 EDTDGDollar General remains committed to acquisition of Family Dollar
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11:02 EDTLULUOptions with decreasing implied volatility
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08:28 EDTDGFamily Dollar board rejects Dollar General's 'illusory' tender offer
Family Dollar Stores (FDO) announced that its Board of Directors unanimously recommends that Family Dollar’s shareholders reject the unsolicited conditional tender offer made by Dollar General Corporation (DG) and not tender their shares. In conjunction with its rejection of Dollar General’s offer, Family Dollar’s Board unanimously reaffirms its recommendation in support of the transaction with Dollar Tree (DLTR). The terms of the tender offer are the same as those in the proposal made by Dollar General on September 2, 2014, which the Board of Directors of Family Dollar unanimously rejected on September 5, 2014, on the basis of antitrust regulatory considerations. Howard R. Levine, Chairman and CEO of Family Dollar, said, “Our Board of Directors, with the assistance of outside advisors and consultants, reviewed all aspects of Dollar General’s tender offer and concluded unanimously that this highly conditional Offer is illusory because, as Dollar General is well aware, the Offer cannot close on the terms proposed. Tenders into the Dollar General Offer will be meaningless since there is no way that Dollar General can purchase shares that are tendered.” Levine added, “The terms of the Dollar General Offer are no different from those in its most recent unsolicited proposal, which was previously and unanimously rejected by our Board of Directors based on antitrust regulatory considerations. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process. Accordingly, our Board has rejected Dollar General’s tender offer and reaffirmed its support of the transaction with Dollar Tree, which delivers attractive value in the form of immediate upfront cash and upside participation in a combined Dollar Tree-Family Dollar entity, as well as closing certainty.” Ed Garden, a Family Dollar director and co-founder and Chief Investment Officer at Trian Fund Management, L.P., a large shareholder of the Company, stated, “We are focused on delivering to Family Dollar shareholders the highest value with certainty, and the Dollar Tree transaction does just that. Dollar Tree has taken the antitrust risk off the table by committing to divest as many stores as necessary to obtain antitrust clearance. We remain fully committed to the Dollar Tree transaction.”
08:27 EDTDGFamily Dollar board rejects Dollar General's 'illusory' tender offer
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07:40 EDTCIEUBS to hold a conference
Houston Energy Bus-less Tour is being held in Houston on September 17-19 with webcasted company presentations to begin on September 17 at 8:30 am; not all company presentations may be webcasted. Webcast Link
07:07 EDTCIECobalt management to meet with Deutsche Bank
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September 16, 2014
10:37 EDTLULUOptions with decreasing implied volatility
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07:00 EDTCIECobalt management to meet with Deutsche Bank
Meeting to be held in Geneva on September 16 hosted by Deutsche Bank.
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