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Stock Market & Financial Investment News

News Breaks
June 3, 2014
07:20 EDTMA, JCP, V, WMTRetailers request Supreme Court to listen to 'swipe fee' case, Reuters says
A group of retailers in the National Retail Federation, such as Wal-Mart (WMT) and J.C. Penney (JCP), are planning to ask the U.S. Supreme Court to take up a case involving Federal Reserve regulations that let banks charge debit card "swipe fees" that retailers see as too expensive, according to Reuters, citing comments from an attorney for the merchants. "Swipe fees" are set by companies such as Visa (V) and MasterCard (MA) who reimburse banks for costs involved in providing the cards. Reference Link
News For V;MA;WMT;JCP From The Last 14 Days
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February 26, 2015
12:01 EDTJCPAppeals court revives two claims by Macy's against J.C. Penney, Reuters says
A New York appeals court has revived two claims by Macy's (M) against J.C. Penney (JCP) that accuse J.C. Penney of contract interference and unfair competition related to a Martha Stewart contract, though the appeals court reaffirmed the prior decision that Macy's did not deserve punitive damages, reports Reuters, citing court statements. Reference Link
11:52 EDTJCPMacy's claims against J.C. Penney to be reinstated after appeal, Bloomberg says
07:36 EDTJCPJ.C. Penney volatility elevated into Q4 and outlook
J.C. Penney February weekly call option implied volatility is at 168, March weekly calls are at 91, April is at 55; compared to its 26-week average of 54 according to Track Data, suggesting large near term price movement into the expected release of Q4 results today.
06:46 EDTMA, VDeutsche sees American Express as undervalued, upgrades to Buy
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February 25, 2015
08:00 EDTWMTWal-Mart still pressured by prominent shareholder over pay, Reuters says
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February 24, 2015
07:25 EDTMARW Baird to hold a conference
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06:48 EDTJCPPiper reiterates J.C. Penney as top pick for 2015
Piper Jaffray analyst Neely Tamminga reiterates J.C. Penney as a top pick for 2015 ahead of the retailer's year-end 2014 earnings report. Tamminga believes Penny's comp for February, the first month of its fiscal year, could be tracking up 4%. The analyst also thinks Penny management could express conviction in the retailer's plan to recapture share among moderate consumers on Thursday's earnings call. Tamminga has an Overweight rating on Penny with a $12 price target.
06:39 EDTMA, VVisa Europe announces 'tokenisation service'
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06:21 EDTWMTWal-Mart de Mexico announces retirement of CFO Rafael Matute
Wal-Mart de Mexico announces that its board approved Rafael Matute's decision to retire from the company, after having served for 17 years as CFO, and the appointment of Pedro Farah as the new CFO. The changes will be effective June 1 and Matute will stay until July 31 to help with the transition. Farah is currently CFO of Walmart Latin America.
February 23, 2015
10:50 EDTWMTWal-Mart to host 2015 Global Sustainability Milestone Meeting
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February 22, 2015
15:31 EDTWMTMcDonald's under pressure to raise hourly pay as Wal-Mart sets bar, Reuters says
According to labor experts McDonald's (MCD) and its franchisees may be under pressure to raise hourly wages as the improved economic landscape increases competition for good workers and as retailer Wal-Mart (WMT) raises its hourly pay, says Reuters. Reference Link
February 20, 2015
16:48 EDTWMTDow, S&P 500 finish week at record highs after Greek deal reached
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16:03 EDTWMTOptions Update; February 20, 2015
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13:20 EDTWMTAnalysts divided on Wal-Mart after results, pay raise announcement
Barclays cut its rating on Wal-Mart (WMT) this morning after the world's largest retailer reported its quarterly results and gave forward looking guidance yesterday. However, research firm Janney Capital wrote in a note to investors that it believes shares of Wal-Mart will probably outperform going forward, as other retailers are likely to implement wage hikes similar to the one that the giant discounter announced. BACKGROUND: Yesterday Wal-Mart announced that it would raise the wages of all of its employees to at least $10 per hour by February 2016. The company also reported higher than expected fourth quarter profits, excluding certain items, but its Q4 revenue came in below expectations. Moreover, the retailer provided lower than expected profit guidance for its fiscal 2016 and lowered its fiscal 2016 sales growth guidance to 1%-2% from its previous outlook of 2%-4%. Wal-Mart's stock fell significantly yesterday after the quarterly report. ANALYST REACTION: Barclays lowered its rating on Wal-Mart to Equal Weight from Overweight and dropped its price target for shares to $85 from $90. The firm says the retailer's investments to improve the shopping experience at its U.S. stores will continue into FY17 and are unlikely to produce near-term benefits. It believes Wal-Mart's Q4 domestic comps were aided by lower gas prices and easy weather comparisons, and notes that weather is unlikely to help in FY16. Meanwhile, Janney Capital analyst David Strasser said Wal-Mart's stock dropped because of worries about the company's spending and the hit the company took from negative foreign exchange trends. However, other retailers are likely to implement similar wage hikes, causing the entire sector to come under pressure and enabling Wal-Mart's stock to outperform going forward, according to Strasser. Additionally, Wal-Mart is likely to continue to benefit from higher gas prices in Q1, wrote the analyst, who kept an $89 price target and Buy rating on the shares. PRICE ACTION: In mid-afternoon trading, Wal-Mart added 0.5% to $83.94.
10:01 EDTWMTOn The Fly: Analyst Downgrade Summary
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09:38 EDTWMTActive equity options trading on open
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09:06 EDTWMTWal-Mart can outperform as peers follow suit on wages, says Janney Capital
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07:20 EDTWMTWal-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
06:49 EDTVVisa shifting to local payment systems in Russia, WSJ says
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05:50 EDTWMTWal-Mart downgraded to Equal Weight from Overweight at Barclays
Barclays cut its rating on Wal-Mart to Equal Weight from Overweight and dropped its price target for shares to $85 from $90. The firm says the retailer's investments to improve the shopping experience at its U.S. stores will continue into FY17 and are unlikely to produce near-term benefits. It believes Wal-Mart's Q4 domestic comps were aided by lower gas prices and easy weather comparisons, and notes that weather is unlikely to help in FY16. The stock closed yesterday down $2.77 to $83.52 after Wal-Mart reported Q4 results.
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