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January 10, 2013
12:25 EDTURBN, F, ARO, NOK, WMT, MCP, SVUOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, as a slightly worse than expected weekly jobless claims report in the U.S. was balanced by strong export data from China. With the earnings season not set to begin in earnest until next week, and no sign of urgency from lawmakers to pick up their debate on the impending debt ceiling until the last minute again, the market may be range-bound in the near term... ECONOMIC EVENTS: In the U.S., weekly jobless claims rose 4K to 371K, versus expectations for 362K claims. Wholesale inventories increased 0.6% in November, versus expectations for an increase of 0.2%. The Job Openings & Labor Turnover survey showed advertised job openings climbed 11,000 in November to 3.67M, which was about 12% more than in the same month a year ago. In Europe, the ECB kept its main interest rate unchanged. The Bank of England also voted, as expected, to keep its main interest rate unchanged and not to buy more government bonds. China's trade surplus rose to $31.6B in December from $19.6B in November, as exports increased 14.1% compared with the same period a year earlier, widely beating expectations for a 4.5% increase. Imports gained 6%, compared to expectations for a 2.6% increase... COMPANY NEWS: Wal-Mart (WMT) shares slid nearly 1% after two Congressmen suggested that the company's current CEO knew as early as 2005 about bribery allegations against the retailer in Mexico... Ford (F) rose 2.5% after the company doubled its quarterly dividend to 10c per share... Supervalu (SVU) rose almost 13% after the company reported a quarterly profit on sales that were roughly in-line with expectations, but more importantly agreed to sell its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market chains to a Cerberus-led consortium in a transaction valued at $3.3B... MAJOR MOVERS: Among the notable gainers was Nokia (NOK), which surged over 18% after announcing its Mobile Phones business unit and Lumia portfolio delivered better than expected results in Q4 and operating expenses were lower than expected. Also higher were shares of Urban Outfitters (URBN), up 4% after it reported a 9% increase in comparable retail segment net sales during the holiday season and research firm Piper Jaffray raised its price target on the shares. Among the noteworthy losers were Molycorp (MCP), down 21% after forecasting lower than expected 2013 revenue and cash flow, and Aeropostale (ARO), down 6% after cutting its Q4 profit view and having shares downgraded to Hold at Brean Capital... INDICES: Near noon, the Dow was up 14.49, or 0.11%, to 13,405.00; the Nasdaq was down 0.40, or 0.01%, to 3,105.41; and the S&P 500 was up 3.85, or 0.26%, to 1,464.87.
News For WMT;F;SVU;NOK;URBN;MCP;ARO From The Last 14 Days
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November 17, 2015
07:36 EDTWMTSam's Club sees Q4 comp sales ex-fuel flat to up 1%
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07:34 EDTWMTWal-Mart U.S. sees Q4 comp sales increase of around 1%
On Wal-Mart's Q3 earnings call, Wal-Mart U.S. President and CEO Greg Foran said "We know the holidays will be competitive. Additionally, we expect food inflation to remain low relative to last year, and we'll lap last year's significant drop in fuel prices, which will make the comparison for the fourth quarter more difficult. But we're confident in our strategy and in the actions we're taking, and believe they'll help offset some of these pressures." For Q4, Wal-Mart expects a comp sales increase of around 1%, which Foran said would represent a 50 basis point improvement in its 2-year comp stack from third quarter.
07:21 EDTURBNUrban Outfitters price target lowered to $32 from $37 at Brean Capital
Brean Capital lowered its price target on Urban Outfitters to $32 from $37 following Q3 results. The firm said Q4 is off to a slow start due to warmer weather, but they still believe Urban Outfitters is a best-of-breed retailer with several top and bottom-line drivers. Brean Capital maintained its Buy rating on Urban Outfitters shares.
07:19 EDTURBNUrban Outfitters long-term outlook still favorable, says Stifel
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07:17 EDTWMTWal-Mart rises 2.8% to $59.50 after Q3 earnings top expectations
07:11 EDTURBNUrban Outfitters downgraded to Hold from Buy at Cantor
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07:10 EDTWMTWal-Mart reports total U.S. SSS up 1.4% without fuel
Reports total U.S. SSS up 0.7% with fuel.
07:10 EDTWMTWal-Mart reports Q3 Sam's Club SSS up 0.4% without fuel
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07:08 EDTWMTWal-Mart sees FY16 Walmart U.S. SSS up about 1%
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07:07 EDTWMTWal-Mart sees 'relatively flat' total sales growth for the year
Sees FY15 total net sales growth ex-currency about 3%.
07:07 EDTWMTWal-Mart narrows FY16 EPS view to $4.50-$4.65 from $4.40-$4.70
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07:06 EDTWMTWal-Mart reports Q3 Walmart U.S. SSS up 1.5%
Comp sales at Walmart U.S. were positive for the fifth consecutive quarter, up 1.5%. Traffic increased 1.7%. Customer experience scores continued to strengthen. Neighborhood Market comps increased approximately 8%, with strong growth from newer stores. Walmart International net sales were $29.8 billion. On a constant currency basis, sales reached $34.7 billion, led by Mexico and Canada. Operating income decreased 6.4%. On a constant currency basis, operating income increased 8.5%. E-commerce sales and GMV globally increased approximately 10% on a constant currency basis. Growth was pressured by challenges in key international markets. Investments in people and technology continued. Consolidated operating income declined 8.8%. On a constant currency basis1, consolidated operating income declined 5.4%.
07:05 EDTWMTWal-Mart narrows FY16 EPS view to $4.50-$4.65 from $4.40-$4.70
CFO Charles Holley says, "We delivered solid earnings per share that was well within our guidance. Looking ahead, we are narrowing our full-year earnings per share guidance to range between $4.50 and $4.65, including a range of $1.40 to $1.55 for the fourth quarter. This includes ongoing headwinds from currency, which we now expect will impact earnings per share by $0.16, compared to $0.15 from last quarter's guidance. We continue to expect relatively flat total sales growth for the year. Without the currency impact, our full-year total net sales growth would be around 3 percent."
07:04 EDTWMTWal-Mart sees Q4 EPS $1.40-$1.55, consensus $1.43
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07:03 EDTWMTWal-Mart reports Q3 continuing ops EPS $1.03, consensus 98c
Reports Q3 revenue $117.41B, consensus $117.79B. Q3 diluted EPS from continuing operations was $1.03, benefited by approximately 4c from an adjustment for certain leases. Currency negatively impacted EPS by 4c. On a constant currency basis1, total revenue was $122.4 billion, an increase of 2.8%.
06:51 EDTURBNUrban Outfitters price target lowered to $27 from $42 at Piper Jaffray
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06:39 EDTWMTWal-Mart Asia CEO: China to drive over half of sector growth, CNBC says
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06:27 EDTWMTWal-Mart may see worst y/y decline since 1973, WSJ says
Wal-Mart's stock has slumped roughly 40% since reaching over $90 in January, setting the company up for its worst year over year decline since 1973, Steven Russolillo of the Wall Street Journal's Ahead of the Tape reports. There is not much reason to believe that the retailer's shares will rebound ahead of Tuesday's quarterly report, Russolillo says. Deflationary concerns and the growing e-commerce market represent two structural issues hindering Wal-Mart's ability to stage swift turnaround, the report says. Reference Link
06:26 EDTURBNUrban Outfitters downgraded to Market Perform from Outperform at Telsey Advisory
Telsey Advisory downgraded Urban Outfitters to Market Perform and lowered its price target to $23 from $40 on shares. Analyst Dana Telsey lowered estimates following the Q3 report and said the lack of product newness in core apparel and accessories had not impacted all of the businesses, with deceleration across brands. Telsey believes Urban's ability to post an increase in sales trends is further on the horizon and earnings visibility is further clouded.
06:12 EDTURBNUrban Outfitters downgraded to Sector Perform from Outperform at RBC Capital
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