New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
October 15, 2012
07:14 EDTSWY, SBUX, WMT, KR, M, MA, LOW, TGT, VCredit card fee settlement opposed by Wal-Mart, others, Reuters says
In the months since a $7.2B settlement with Visa (V) and Mastercard (MA) over "swipe fees" was filed, a number of major retailers including Wal-Mart (WMT) and several trade groups have come out opposing the deal and asked to have it blocked, reported Reuters. The credit card companies and retailers that do support the plan will ask a judge this week to approve it in spite of the objections, the report noted. Reference Link
News For V;MA;WMT;TGT;M;SBUX;LOW;KR;SWY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 >>
November 11, 2015
09:29 EDTMMacy's tumbles after results disappoint
Subscribe for More Information
09:28 EDTMOn The Fly: Pre-market Movers
UP AFTER EARNINGS: AlarmCom (ALRM), up 13.3%... Full House Resorts (FLL), up 7.4%. ALSO HIGHER: J.C. Penney (JCP), up 3.2% after reporting third quarter Same-Store Sales up 6.4%... Amira Nature Foods (ANFI), up 32.2% after an independent review found that allegations against the company are unsubstantiated... Intrexon (XON), up 1.9% after being upgraded to Neutral from Underperform at Mizuho. DOWN AFTER EARNINGS: Boot Barn (BOOT), down 16.6%... Westport Innovations (WPRT), down 12.8%... Macy's (M), down 9.8%. ALSO LOWER: Horizon Pharma (HZNP), down 14.3% following a lawsuit and allegations by Express Scripts (ESRX)... AmTrust Financial (AFSI), down 5.5% after 5M share Secondary priced at $64.00... Premier (PINC), down 1.6% after 4.03M share Spot Secondary priced at $34.50.
09:22 EDTMMacy's CFO says 'anxious' to see how other retailers fared in the quarter
CFO Karen Hoguet says sales "unexpectedly weakened" in Q3. Estimates impact of lower international tourist sales to be approx. 1.5 points in Q3. Says that in spite of disappointing overall sales, says there were some "bright spots," including digital growth, Active, furniture and mattresses business, as well as kids and younger millennials businesses. Says will need to liquidate elevated inventory in Q4.
09:14 EDTMMacy's says exploring JVs, other deals to redevelop flagship real estate assets
Says flagship real estate assets include Union Square, Herald Square.
09:13 EDTMMacy's says 'not enough value' to be created from establishment of REIT
Subscribe for More Information
09:08 EDTMMacy's CEO says retail industry going through 'tough period'
Subscribe for More Information
08:44 EDTKRKroger to hold a conference call
Subscribe for More Information
08:40 EDTKRRoundy's agrees to be acquired by Kroger for $3.60 per share
Subscribe for More Information
08:39 EDTKRKroger to purchase all shares of Roundy's for $3.60 per share
Kroger (KR) and Roundy's (RNDY) announced a definitive merger agreement under which Kroger will purchase all outstanding shares of Roundy's for $3.60 per share in cash. The transaction price represents a premium of approximately 65% to the Roundy's closing share price on November 10, 2015. The terms of the agreement were unanimously approved by the boards of both companies. Under the terms of the merger agreement, Kroger will commence a tender offer for all of the outstanding shares of Roundy's common stock. Any shares of Roundy's common stock not acquired in the tender offer will be acquired by Kroger in a subsequent merger. The transaction is subject to Roundy's stockholders tendering at least a majority of the outstanding shares of Roundy's common stock in the tender offer, certain regulatory approvals, and other customary closing conditions. The transaction is not subject to any financing conditions. Kroger plans to finance the transaction with debt, and refinance Roundy's existing debt of $646 million based on market conditions. Consistent with the company's long-term commitment to returning cash to shareholders, Kroger intends to continue its quarterly dividend and share repurchase program while managing free cash flow to reduce the leverage taken on from this merger. Although the company's net debt to EBITDA ratio will increase at the time the merger closes, Kroger expects the ratio to remain in the 2.00 - 2.20 range upon closing of the merger. Kroger is committed to maintaining its current investment grade credit rating. Kroger expects the merger to be slightly accretive to earnings in the first full year after closing, excluding merger-related expenses. The transaction will have no effect on Kroger's current long-term net earnings per diluted share growth rate of 8 - 11%, plus a growing dividend. While Kroger expects to realize cost savings of approximately $40 million over time, the company plans to reinvest those cost savings to grow the business. Kroger has a strong history of achieving synergy goals. Being patient in achieving those goals reduces the risk of the transaction and sets the stage for sustainable growth.
08:33 EDTKRKroger to purchase all shares of Roundy's for $3.60 per share in cash
08:10 EDTMMacy's says to reduce CapEx to less than $1B in 2016
Macy's, Inc. is continuing to execute a number of key strategies and actions going forward to adapt its business model as an omnichannel retailer committed to outstanding stores as a competitive differentiator. These adjustments are rooted in Macy's MOM strategies and Bloomingdale's focus on omnichannel opportunities, contemporary style and personalized service -- which have proven to be a powerful driver of success. The company is: Accelerating investments in Macy's, Bloomingdale's and Bluemercury's digital and mobile capabilities to mirror the shift to increased online shopping, where the company continues to see double-digit, year-over-year sales increases. Concentrating its resources in top stores in the best locations so each store is a more compelling magnet for customer activity and uses its selling space more productively. Best stores will see intensified merchandise assortments in key destination departments such as jewelry and watches, strategically selected licensed departments, strengthened visual presentation, enhanced staffing and more local marketing. Meanwhile, in early 2016, the company will be closing 35 to 40 of its current portfolio of about 800 Macy's and Bloomingdale's stores, as previously announced, and expects it will continue to reduce the number of stores over time. Reducing expense and tightening capital spending to operate more efficiently and fund the highest-potential growth initiatives. Macy's, Inc.'s target is to reduce annual SG&A by $500 million from previously planned levels by 2018, with incremental progress in 2016 and 2017 toward that goal. These structural expense reductions will result in charges to be taken in each of the three years. Specific plans to achieve these savings are being formulated. Macy's, Inc. will reduce capital spending to less than $1 billion in 2016 from the $1.2 billion expected in 2015. The company also is quickly building-out new directions for the longer-term future: Expand Macy's Backstage as an exciting new dimension in retailing across America. Over the next two years, the company will roll out about 50 free-standing Macy's Backstage stores in off-mall locations, building on the pilot launch this fall. In addition, in spring 2016 the company will pilot Backstage stores within up to 10 existing Macy's store locations, creating a new hybrid store. Open approximately 40 additional Bluemercury self-standing beauty specialty stores, bringing the total store base to approximately 115 by the end of 2017. Appropriately expand Macy's internationally based on the learnings we expect from the Macy's China Limited pilot with Alibaba's Tmall Global beginning in the fourth quarter.
08:09 EDTMMacy's says has decided not to pursue formation of a REIT at this time
Subscribe for More Information
08:06 EDTMMacy's cuts FY15 EPS view to $4.20-$4.30 ex-charges from $4.70-$4.80
Consensus is $4.65. Guidance is for full-year 2015 comparable sales on an owned plus licensed basis to decrease by 1.8 percent to 2.2 percent, compared with previous guidance of approximately flat. The company expects 2015 total sales to be down by 2.7 percent to 3.1 percent, compared to previous guidance for total sales to be down approximately 1 percent.
08:04 EDTMMacy's sees Q4 EPS $2.54-$2.64, consensus $2.90
Sees fourth quarter comparable sales on an owned plus licensed basis to decline by 2.0 percent to 3.0 percent. Full-year and fourth quarter 2015 comparable sales on an owned basis will be approximately 50 basis points lower than on an owned plus licensed basis.
08:02 EDTMMacy's reports Q3 comaprable sales on owned plus licensed basis down 3.6%
Subscribe for More Information
08:02 EDTMMacy's CEO says 'disappointed' sales did not improve in Q3
Subscribe for More Information
08:01 EDTMMacy's, Luxottica agree to open LensCrafters in as many as 500 Macy's stores
Subscribe for More Information
08:01 EDTMMacy's reports Q3 EPS 56c ex-items, consensus 54c
Reports Q3 revenue $5.87B, consensus $6.09B. Macy's reported earnings per share of 36 cents in the third quarter of 2015, ended Oct. 31, 2015. Excluding asset impairment charges of $111 million, or 20 cents per share, primarily related to the previously-announced plans to close 35 to 40 stores in early 2016, third quarter earnings per share were 56 cents per share. This compares with 61 cents per diluted share in the third quarter of 2014.
07:55 EDTV, MARBC Capital to hold a conference
Subscribe for More Information
07:07 EDTWMTWal-Mart volatility elevated into Q3 and outlook
Subscribe for More Information
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use