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Stock Market & Financial Investment News

News Breaks
August 14, 2014
12:30 EDTRRGB, NDLS, CSCO, AAP, WMT, OVTIOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory and have remained there throughout the morning. The averages have edged higher despite worse than expected U.S. jobless claims data, weak economic growth in Germany, and a lowered outlook from retail giant Wal-Mart (WMT). Each of the major indexes is drifting on light volume and the Dow, Nasdaq and S&P 500 are all higher by roughly 0.25%. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 311K in the second week of August, versus expectations for 295K claims. Import prices fell 0.2%, while export prices were flat in July. In Europe, growth in the shared currency zone stagnated, with Q2 GDP slipping to unchanged, while the biggest economy in the region, Germany, saw its GDP contract 0.2% in the quarter. COMPANY NEWS: Wal-Mart reported second quarter results that were in-line with expectations, but the world's largest retailer cut its fiscal year earnings outlook citing additional investments in e-commerce and higher U.S. health-care costs than previously anticipated. Despite the lowered guidance, the Dow member's shares were virtually unchanged near noon... Another member of the Dow, Cisco Systems (CSCO), was the the blue-chip average's laggard, falling nearly 3% after saying it does not expect emerging markets growth for "several quarters" and that it expects to cut 6,000 jobs, or 8% of its workforce. The move lower comes despite its report of higher than expected sales and profits for its fiscal fourth quarter and multiple Street research firms raising their price targets for Cisco's stock. MAJOR MOVERS: Among the notable gainers was OmniVision (OVTI), which rose 13% to trade near $28 per share after announcing its board has received a preliminary non-binding proposal from Hua Capital Management to acquire all of the outstanding shares of common stock of the company for $29.00 per share in cash. Also higher was Advance Auto Parts (AAP), which rose about 6% after the company reported higher than expected second quarter earnings and raised its fiscal year comparable cash EPS view. Among the noteworthy losers were casual dining companies Red Robin Gourmet Burgers (RRGB), which dropped 21%, and Noodles & Company (NDLS), which fell 20%, after both reported lower than anticipated second quarter results. INDEXES: Near midday, the Dow was up 38.74, or 0.23%, to 16,690.54, the Nasdaq was up 10.26, or 0.23%, to 4,444.39, and the S&P 500 was up 5.24, or 0.27%, to 1,951.96.
News For WMT;CSCO;OVTI;AAP;RRGB;NDLS From The Last 14 Days
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August 18, 2015
09:33 EDTWMTMarket moves lower at open
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09:23 EDTWMTOn The Fly: Pre-market Movers
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09:12 EDTWMTWal-Mart trading short-term pain for long-term gain, says Baird
Baird said Wal-Mart's Q2 results fell below expectations due to higher SG&A and softer gross margins caused by investments made to sustain top-line momentum. The firm feels the company is trading short-term P&L pain for long-term profit gain. Baird maintained its Outperform rating and $86 price target on Wal-Mart shares.
08:36 EDTAAPAdvance Auto Parts upgraded to Buy from Hold at Argus
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07:28 EDTWMTWal-Mart sees forex impacting FY16 EPS by approx. 15c per share
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07:23 EDTWMTWal-Mart see Q3 Sam's Club SSS flat to up 2% ex-fuel
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07:21 EDTWMTFutures suggesting slightly lower open
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07:21 EDTWMTFutures suggesting slightly lower open
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07:21 EDTWMTWal-Mart says 'optimistic' about prospects in China despite softening economy
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07:19 EDTWMTWal-Mart sees Q3 U.S. SSS up 1%-2%
Says U.S. introducing 8,000 new department manager positions. Says U.S. grocery home shopping pilots remain under way, says "encouraged" by performance of Neighborhood Markets format. Sees Q3 U.S. SSS up approx. 1%-2% vs. up 0.5% last year.
07:16 EDTWMTWal-Mart sees U.S. comps accelerating in short-term
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07:13 EDTWMTWal-Mart trades lower on outlook
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07:08 EDTWMTWal-Mart says updated FY16 EPS range includes headwinds in U.S. business
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07:06 EDTWMTWal-Mart sees operating profit pressured for remainder of year
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07:05 EDTWMTWal-Mart reports Q2 total revenue $120.2B, constant currency basis rev. $124.5B
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07:04 EDTWMTWal-Mart reports Q2 e-commerce sales up approx. 16%
E-commerce sales globally increased approximately 16% on a constant currency basis. Gross merchandise value, or GMV, increased approximately 18% on a constant currency basis. Q2 earnings were pressured by currency fluctuations, lower Walmart U.S. margins and investments in customer experience. Consolidated operating income declined 10%. CEO Doug McMillion says, "We're pleased that the investments we've made are helping to improve our business. Even if it's not as fast as we would like, the fundamentals of serving our customers are consistently improving, and it's reflected in our comps and revenue growth. In this case, our desired changes require investments, which are pressuring earnings this year. We're confident that our strategic plan will create robust sustainable growth for shareholder returns over time."
07:03 EDTWMTWal-Mart sees Q3 EPS 93c-$1.05, consensus $1.08
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07:03 EDTWMTWal-Mart cuts FY16 EPS view to $4.40-$4.70 from $4.70-$5.05
Consensus is $4.77.
07:02 EDTWMTWal-Mart reports Q2 EPS $1.08, consensus $1.12
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06:12 EDTWMTWal-Mart implied volatility of 23 at upper end of index
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