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March 20, 2014
06:33 EDTWMT, LOW, HDWal-Mart to be aggressive in outdoor, garden business, NY Times says
Wal-Mart (WMT) for the first time will launch a major initiative to increase its outdoor and garden sales this spring, according to The New York Times. The giant retailer will offer major discounts on more than 60 items in those areas, the newspaper stated. Home Depot (HD) and Lowe's (LOW) also compete in those markets. Reference Link
News For WMT;HD;LOW From The Last 14 Days
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November 17, 2015
07:02 EDTLOWLowe's volatility increases into Q3 and outlook
Lowe's November call option implied volatility is at 67, December is at 31, January is at 27; compared to its 52-week range of 16 to 33, suggesting large near term price movement into the expected release of Q3 results on November 18.
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
06:03 EDTHDHome Depot sees FY15 EPS $5.36, consensus $5.31
Sees FY15 sales growth of 5.7%, consensus $87.74B. The FY15 EPS includes benefit of its intent to repurchase additional $2B of shares in Q4, bringing total 2015 share repurchases to $7B.
06:02 EDTHDHome Depot reports Q3 EPS excluding items $1.36, consensus $1.32
Reports Q3 revenue $21.82B, consensus $21.76B. Reports Q3 comparable store sales up 5.1%. Reports Q3 US comparable store sales up 7.3%.
05:24 EDTHDStocks with implied volatility above IV index mean; CRM HD
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November 16, 2015
16:23 EDTWMTOn The Fly: Top stock stories for Monday
Stock futures were pointing to a higher open early this morning, showing resiliency in the wake of Friday's terrorist attacks in France and the nation's millitary retaliation against ISIS this weekend. However, the futures weakened following the release of manufacturing data from the N.Y. region, leading to a slightly lower open for the broader market. The averages pared their losses and searched for direction in early trading, but by early afternoon the bulls took control and sent the indexes on an uptrend throughout the afternoon. The major averages each notched gains of more than 1% and recaptured much of what they'd lost on Friday. ECONOMIC EVENTS: In the U.S., the Empire State index, which measures manufacturing in the N.Y. region, edged up to -10.74 in November, up from last month's -11.4, but below expectations for a -6.5 reading. In Asia, Japan's gross domestic product declined 0.8% in the third quarter, missing expectations for a 0.2% decrease and taking the nation's economy back into recession. COMPANY NEWS: Starwood Hotels & Resorts (HOT) found a buyer, but not the one that recent reports had been foreshadowing. Starwood and Marriott (MAR) announced a deal under which the companies will combine in a cash and stock transaction valued at $12.2B to create the world's largest hotel company. Starwood, which had been linked in media reports to a number of other potential buyers in the past, including Hyatt (H) most recently, fell 3.6% to $72.27 following the deal announcement, while Hyatt rose 3.4% and Marriott added 1.35%. MAJOR MOVERS: Among the notable gainers was CONSOL Energy (CNX), which advanced 56c, or 7.57%, to $7.96 after Greenlight Capital's David Einhorn reiterated the stock as his "best idea" at Monday's Robin Hood Investors Conference. Also higher was Wal-Mart (WMT), gaining $1.44, or 2.55%, to $57.87 ahead of its third quarter earnings report Tuesday morning, which comes after largely disappointing reports from other major retailers. Among the noteworthy losers was Clovis Oncology (CLVS), which crashed $69.19, or 69.6%, to $30.24 after new data showed the number of patients testing its cancer drug candidate rociletinib with an unconfirmed response who converted to a confirmed response was lower than expected. The company also noted that the FDA requested additional information related to the treatment's confirmed response rates. Also lower was Dillard's (DDS), which lost $4.97, or 6.41%, to $72.54 after reporting lower than expected Q3 results, the latest in a series of disappointments for the sector. Additionally, SunEdison (SUNE) fell 38c, or 7.61%, to $4.55 after quarterly filings revealed that at least two prominent hedge funds exited or trimmed their stakes in the company. INDEXES: The Dow rose 237.77, or 1.38%, to 17,483.01, the Nasdaq gained 56.73, or 1.15%, to 4,984.62, and the S&P 500 advanced 30.15, or 1.49%, to 2,053.19.
15:02 EDTWMT, HDNotable companies reporting before tomorrow's open
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14:44 EDTHDHome Depot volatility increases into Q3 and outlook
Home Depot November call option implied volatility is at 45, December is at 27; compared to its 52-week range of 16 to 32, suggesting large near term price movement into the expected release of Q3 results on November 17.
14:38 EDTHDHome Depot November 120 straddle priced for 4.4% movement into Q3
14:28 EDTHDHome Depot technical notes ahead of earnings
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14:08 EDTWMTWal-Mart technical comments ahead of results
The shares are at multi-year lows and in a downtrend heading into earnings news. If there was a bullish surprise, the first important resistance level would be at the 10-week moving average at $60.58. The 10-week is a good proxy for a downtrend resistance line for the current longer-term bearish price channel. Resistance above the top of the channel would be at $61.23. If the news continues to be negative, the channel low at $55.46 would be a first major test of support. Price at that level would mark a fresh 52-week low. Additional support levels to watch as potential downside objectives would be at $53.55 and then at $51.79.
14:00 EDTWMTWal-Mart November 57 straddle priced for 3.5% movement into Q3
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11:42 EDTWMTWal-Mart volatility increases into Q3 and outlook
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11:15 EDTWMTEarnings Watch: Analysts largely downbeat on Wal-Mart after annual meeting
Wal-Mart Stores (WMT) is scheduled to report third quarter earnings before the market open on Tuesday, November 17, with a conference call scheduled for 7:00 am ET. Wal-Mart, a member of the Dow Jones Industrial Average, operates retail stores in various formats under 69 different banners in 27 countries with its "everyday low price" philosophy. EXPECTATIONS: Analysts are looking for earnings per share of 98c on revenue of $117.79B, according to First Call. The consensus range for EPS is $1.07-$1.15 on revenue of $114.86B-$119.57B. In its last earnings report, Wal-Mart forecast Q3 EPS of 93c-$1.05 with Q3 U.S. same store sales projected to grow 2%-3%. LAST QUARTER: Wal-Mart reported second quarter EPS of $1.08, missing analysts' estimate of $1.12, on revenue of $120.2B, beating analysts' estimate of $119.72B. The company said currency negatively impacted Q2 EPS by approximately 4c. Comp sales at Walmart U.S. increased 1.5%, driven by traffic of 1.3%, and Neighborhood Market comps increased approximately 7.3%. Global e-commerce sales for Q2 increased about 16%, the company said. Looking ahead, Wal-Mart cut its outlook for fiscal year 2016 EPS to $4.40-$4.70 from $4.70-$5.05 against estimates at that time for $4.77. Chief Financial officer Charles Holley said operating profit would be pressured for the remainder of the year, due to in store associate wages and additional hours, as well as headwinds from pharmacy reimbursements and ongoing shrink. The company said that the impact from investments in wages, training and additional hours in its stores and clubs will be approximately 24c, including approximately 8c in Q3. Additionally, the company said that along with pharmacy headwinds, higher than expected ongoing shrink in Walmart U.S. will impact full year EPS by around 11c, including about 3c in Q3. Further, the FY16 currency exchange rate impact is expected to be approximately 15c, up 2c from last quarter's revised guidance of 13c. NEWS: At its annual meeting on October 14, Wal-Mart forecast net sales growth of approximately 3% for FY16 excluding the impact of currency exchange fluctuations. The company forecast net sales growth of 3%-4% annually over the next three years, which will add about $45B-$60B in sales. Looking to fiscal year 2017, Wal-Mart forecast EPS down 6%-12% vs. FY16. Wal-Mart also said that the strong dollar is expected to reduce the company's FY15 revenue by $15B, Reuters said. Wal-Mart's board authorized a new $20B share repurchase program and said it expects operating income to bottom out in FY17. During the quarter, Reuters reported that Wal-Mart filed an application with the Federal Aviation Administration to test drones for home delivery, curbside pickup and warehouse inventory checks. The Wall Street Journal said Wal-Mart is slimming down its number of items in an attempt to bolster sales figures, yet the reduction has created tensions with suppliers. STREET RESEARCH: Credit Suisse, Stephens and BofA Merrill Lynch all downgraded Wal-Mart after the retailer's annual meeting based on guidance for declining earnings in FY17 and a lack of earnings growth until FY19. Baird, UBS and Jefferies all cut their price targets on Wal-Mart following the annual meeting. JPMorgan analyst Christopher Horvers said the "depth and degree" of the financial pressures addressed at the annual meeting were "much greater than anticipated." Ahead of the Q3 earnings report, Baird reiterated its Outperform rating and $70 price target and said Wal-Mart shares appear to hold some value for patient investors. Wal-Mart was upgraded to Buy from Neutral at Northcoast on November 13. PRICE ACTION: Wal-Mart shares are down over 21% over the last three months, but are up about 1% to $57.07 in late morning trading ahead of Tuesday's earnings report.
10:40 EDTHDEarnings Watch: Home Depot reports following recent rout among retailers
Home Depot (HD), a home improvement retailer, is scheduled to report third quarter results before the market opens on Tuesday, November 17, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.32 on revenue of $21.76B, according to First Call. The consensus range for EPS is $1.28-$1.37 on revenue of $21.16B-$22B. LAST QUARTER: On August 18, Home Depot reported second quarter adjusted EPS of $1.71 on revenue of $24.83B, generally in line with analysts' consensus estimates of $1.71 and $24.69B, respectively. The company said same-store sales increased 4.2% year-over-year, with U.S. SSS up 5.7%. The company raised its fiscal year 2015 EPS growth view to 13% from 11%-12% and its FY15 revenue growth forecast to 5.2%-6% from 4%-4.6%. The company previously raised its FY15 EPS growth view to 11%-12% and revenue growth view to 4.2%-4.8% from 3.5%-4.7%. Home Depot also said it sees FY15 SSS to be up 4.1%-4.9% y/y, an increase from its prior view of 4%-4.6% growth. Home Depot said at the time that it expected to repurchase an additional $3.9B of shares during the remainder of the year for a total of $7B. NEWS: On its last earnings conference call, Home Depot said the increased guidance reflects the outperformance of Q2 and the expected benefits of the Interline Brands acquisition. The company also noted that it will tap the long-term debt markets in the fall. During the quarter, Home Depot completed the $1.63B acquisition of Interline. STREET RESEARCH: UBS raised its price target on Home Depot to $138 from $129 on the day after its last earnings release, saying it sees several factors that could drive upside, including the addition of the Interline platform and system enhancements. PRICE ACTION: Last week, while retailers Macy's (M), Nordstrom (JWN) and numerous others in the space reported worse than expected quarterly results and gave downbeat guidance, Home Depot shares declined about 4.7%. Over the last three months, Home Depot shares are up about 1%. In early trading ahead of Tuesday's earnings, shares in Home Depot slipped about 0.25% to $119.74.
08:36 EDTWMTWal-Mart holds value for patient long-term investors, says Baird
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07:40 EDTWMTBuffett says lower stakes in Goldman, Wal-Mart doesn't reflect lower confidence
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07:36 EDTWMTBerkshire Hathaway discloses new AT&T stake in quarterly update
Berkshire Hathaway gave a quarterly update on its stakes in a filing this morning. NEW STAKES: AT&T (T), Kraft Heinz (KHC), Liberty Lilac Group (LILA). INCREASED STAKES: Phillips 66 (PSX), Charter (CHTR), Liberty Media (LMCK), Suncor (SU), General Motors (GM). DECREASED STAKES: Goldman Sachs (GS), Wal-Mart (WMT), Deere (DE), Chicago Bridge & Iron (CBI), WABCO (WBC). LIQUIDATED STAKES: Viacom (VIAB).
05:28 EDTHDStocks with implied volatility movement; HD ETP
Stocks with implied volatility movement; Home Depot (HD) 26, Energy Transfer Partners (ETP) 49 according to iVolatility.
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