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Stock Market & Financial Investment News

News For TM;RSH;JCP;BBY;SHLD;BCDS;DIOD;SWHC From The Last 14 Days
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March 3, 2015
08:34 EDTBBYBest Buy sees 1H16 comparable sales to be flat to negative low single digits
The comparable sales outlook is driven by a materials decline in tablet category and 2014 holiday momentum not continuing in the new year. Sees non-GAAP operating income down 30 to 50 basis points in 1H16. Reflects economic and growth pressures, 2016 investments into the growth initiatives, and anticipated SG&A inflation. Sees Q1 online growth in mid single digit range. Expects financial impact of economic pressures to begin in Q1 and continue throughout the year. It is optmistic of new product launches, but limited visibility keeps BestBuy "cautious" for the overall industry. Sees 1H16 income tax rate of 39%-40%.
08:21 EDTBBYBest Buy sees FY16 CapEx $650M-$700M in 'year of investment'
The company expects to accelerate the expansion of growing categories like large appliances and mobile phones. It expects to transform traditional offerings for customer needs and integrate Geek Squad into BestBuy.com. It expects to improve delivery and the installation experience with $100M-$120M incremental investments in 2016. Comments taken from Q4 earnings conference call.
07:48 EDTBBYBest Buy up 4.5% after Q4 earnings beat, dividend hike
07:44 EDTBBYBest Buy targeting $400M in annualized savings from phase 2 of 'Renew Blue'
Since the 3Q15 earnings release, Renew Blue annualized cost reductions have increased an additional $55M, bringing the total Renew Blue annualized cost reductions to $1.02B, Best Buy stated. In FY16, the company is launching Phase Two of its Renew Blue cost reduction and gross profit optimization program with a target of approximately $400Min annualized operating income improvement over three years, including the remaining benefit of approximately $250M from the company’s previously discussed returns, replacements and damages opportunity. These savings will be structural in nature and will be driven by streamlined processes and operational efficiencies that will be primarily enabled through investments in systems.
07:11 EDTBBYBest Buy CEO says FY16 to be year of investment
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07:10 EDTBBYBest Buy says Q4 strength in phones, large tvs offset tablet weakness
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07:08 EDTBBYBest Buy completes sale of its Five Star business in China
As previously announced on December 4, 2014, the company entered into a definitive agreement to sell its Five Star business in China. As a result of this agreement, Five Star was classified as held for sale at the end of FY15 and its results are included in discontinued operations for the current and prior-year periods. On February 13, Best Buy completed the sale of Five Star. The company has recast certain financial information for FY14 and FY15 to reflect the results from the Five Star business in China as discontinued operations.
07:05 EDTBBYBest Buy raises dividend 21%, declares special dividend, to resume share buyback
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07:03 EDTBBYBest Buy intends to buyback $1B in shares over three years
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07:02 EDTBBYBest Buy announces special dividend of 51c, raises regular dividend 21% to 23c
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07:02 EDTBBYBest Buy reports Q4 EPS $1.48, consensus $1.35
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05:52 EDTTMToyota promises to stay profitable in Russia, Financial Times reports
Toyota has vowed to stay profitable in Russia although the company expects a 28% drop in the car market in the country, reports the Financial Times. Toyota's president and CEO of Toyota in Europe Didier Leroy said, “Many carmakers now say there is no way — people will lose money in Russia. And we say no way — we will not lose money in Russia ." Reference Link
March 2, 2015
15:23 EDTBBYNotable companies reporting before tomorrow's open
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14:32 EDTBBYBest Buy March weekly 38.5 straddle priced for 7% movement into Q4
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14:28 EDTBBYBest Buy technical comments before results
The stock has had a strong advance over the prior year, but that has stalled somewhat heading into earnings in the last few months. The shares have been in a trading range largely bound by $35 at the low, and $40 at the high. Those two levels can help up project where price may go following results. A breakout above the $40 area, at the 52-week high, would be bullish. Based on the size of the trading range, we could expect a move to the $45 area would then be in the cards, or possibly better depending on the degree of positive surprise. If the news is bearish and price breaks down below $35, the following support levels could become downside objectives: $33.17, $31.30.
10:06 EDTSHLDOptions with decreasing implied volatility
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07:59 EDTBBYBest Buy volatility elevated into Q4 and outlook
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March 1, 2015
17:44 EDTBBYSprint, Best Buy announce 'Best Buy One Plan'
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February 27, 2015
16:22 EDTJCPStocks have another winning week after Greek deal, Yellen reassurance
Stocks ended higher this week after the euro zone sealed its deal to extend Greece's bailout and Fed chair Janet Yellen reiterated that the central bank would take a patient approach to raising interest rates. MACRO NEWS: Last Friday afternoon, Greece reached a framework deal with its euro zone partners to extend its bailout by four months, contingent on a reform proposal being accepted. The proposals were accepted by the EU early this week... In testimony before Congress, Janet Yellen reiterated that the Federal Reserve can remain patient in deciding when to hike interest rates... U.S. economic data was mixed, as the Q4 GDP growth revision, durable goods orders for January, and an index of consumer sentiment beat expectations, but weekly jobless claims and existing home sales for January missed expectations... Somewhat positive economic data came out of China, as the flash HSBC/Markit Purchasing Managers' Index was 50.1, representing a four month high. However, China's export orders declined at the fastest rate in 20 months. COMPANY NEWS: Drug maker Valeant (VRX) agreed to buy Salix (SLXP), which develops gastrointestinal products, for $158 per share. In another development on the M&A front, Bloomberg reported that HP (HPQ) is in talks to make its biggest acquisition in several years by potentially acquiring Aruba Networks (ARUN), which provides Wi-Fi products. Additionally, PTC Therapeutics (PTCT) rose after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN)... Solar energy company SunPower (SPWR) was one of this week's big winners after its quarterly results topped expectations, and the company announced that it's in advanced talks to form a joint YieldCo vehicle with peer First Solar (FSLR). First Solar also rallied after the news... Among the noteworthy losers this week was Lumber Liquidators (LL), after the company reported Q4 earnings per share and revenue that missed consensus expectations. The flooring retailer also warned on its associated call that an upcoming "60 Minutes" piece may cast the company in an unfavorable light and disclosed in its annual report that the Department of Justice indicated in recent communications that it is contemplating seeking criminal charges under the Lacey Act... Companies that rose after reporting their quarterly results included Home Depot (HD) and Gap (GPS), while HP, TASER (TASR), and J.C. Penney (JCP) dropped after reporting their results. INDEXES: For the week, the Dow was down 0.04% to 18,132.70, the Nasdaq was up 0.15% to 4,963.53, and the S&P 500 was down 0.27% to 2,104.50.
16:14 EDTJCPOn The Fly: Closing Wrap
Stocks on Wall Street were lower for the day, but still rose for the week and the month of February. The market moved in a narrow range for most of today's session despite a host of economic reports that were released earlier in the day. In spite of today's modest declines, the market put the finishing touches on one of its best months ever, with the Dow and S&P posting their best monthly rises since October 2011 and the Nasdaq notching its best month since 1998. ECONOMIC EVENTS: In the U.S., the Commerce Department estimated GDP grew at an annual rate of 2.2% in the last quarter of 2014, which is weaker than the 2.6% rate first estimated last month, but above the consensus forecast for the GDP growth rate to be cut to 2%. The Chicago PMI fell 13.6 points to 45.8 in February, which was much worse than the expected reading of 58.0. The University of Michigan consumer sentiment final February print came in at 95.4, which is a little better that the 93.6 preliminary February print and above the consensus forecast for a 94.0 reading. The pending home sales index bounced 1.7% to 104.2 in January, versus expectations for it to be up 2%. COMPANY NEWS: Two notable retailers moved in opposite directions following their quarterly reports, as Gap (GPS) rose and J.C. Penney fell. Gap gained $1.23, or 3.05%, to $41.60 after the company reported fourth quarter earnings that beat expectations. The owner of Old Navy, Banana Republic and its flagship nameplate also announced a $1B share repurchase program and plans to increase its dividend. J.C. Penney, meanwhile, reported earnings that missed expectations and gave a 2015 gross margin outlook that disappointed some analysts and its shares slid 62c, or 6.8%, to $8.50. MAJOR MOVERS: Among the notable gainers was Monster Beverage (MNST), which jumped $16.38, or 13.13%, to $141.12 after the energy drink maker's fourth quarter results surpassed analysts’ consensus estimates and announced plans to expand distribution with Coca-Cola (KO) bottlers into additional territories. Among the noteworthy losers was Weight Watchers (WTW), which dropped $6.23, or 35.48%, to $11.33 after reporting lower than expected quarterly revenues and issuing a worse than expected profit forecast for its new fiscal year. Also lower were shares of Southwestern Energy (SWN), which fell $1.27, or 4.82%, to $25.08 after becoming the latest oil production company to lower its 2015 capital expenditure forecast. INDEXES: The Dow fell 81.72, or 0.45%, to 18,132.70, the Nasdaq lost 24.36, or 0.49%, to 4,963.53, and the S&P 500 declined 6.24, or 0.3%, to 2,104.50.
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