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Stock Market & Financial Investment News

News Breaks
February 15, 2013
16:35 EDTWMT, HLF, TGT, DG, FDO, QLIK, BKW, LOGM, FOLDOn The Fly: Closing Wrap
Stocks on Wall Street were mixed on the day, as the averages moved in a narrow range near the flatline before a midday Bloomberg report indicated Wal-Mart's (WMT) February sales were being called "a total disaster" by a company executive sent the market lower. The averages recovered in the final hour of trading, with Dow the only one of the major indices finishing in positive territory... ECONOMIC EVENTS: The New York Fed's February Empire State Manufacturing survey unexpectedly rose to 10.0 from last month's -7.78 reading. Forecast were for a -2.0 reading. The U.S. Treasury International Capital report showed foreigners bought a net $64.2B in U.S. long term assets in December. U.S. industrial production fell 0.1% in January, versus expectations for growth of 0.2%. The preliminary University of Michigan Consumer Confidence reading for February was 76.3, versus the expected 74.8... COMPANY NEWS: Shares of Herbalife (HLF) opened sharply higher following a disclosure by Carl Icahn last night that he has taken a 12.98% stake in the company, but finished well off their highs, up 47c, or 1.23%, to $38.74. Icahn, who three weeks ago appeared on CNBC with Bill Ackman, who is notably short Herbalife shares, said in his filing that he plans to discuss business and strategic alternatives with Herbalife management... An afternoon report by Bloomberg citing a leaked internal email by a Wal-Mart executive that said February sales to date have been a "total disaster," sending shares of Wal-Mart and other retailers, as well as the broader market, lower during the afternoon. Shares of Wal-Mart finished down $1.52, or 2.15%, to $69.30, while peer Target (TGT) lost $1.02, or 1.63%, to $61.71, and discount retailers Dollar General (DG), down 66c, or 1.47%, to $44.37, and Family Dollar (FDO), lost 67c, or 1.18%, to $55.94... MAJOR MOVERS: Among notable gainers was Qlik Technologies (QLIK), up $4.09, or 17.97%, to $26.85 following its Q4 report and the stock was upgraded by at least two analyst firms. Also higher following better than expected earnings was Burger King (BKW), up 78c, or 4.7%, to $17.36. Among noteworthy losers were shares of LogMeIn (LOGM), down $7.01, or 29.63%, to $16.65 after the company provided Q1 and FY13 guidance fell short of consensus estimates, leading to at least three analyst downgrades. Also lower were shares of Amicus Therapeutics (FOLD), down $1.00, or 25.71%, to $2.89 after the company presented additional data from a Fabry monotherapy study... INIDICES: The Dow gained 8.37, or 0.06%, to 13,981.76; the Nasdaq lost 6.63, or 0.21%, to 3,192.03; the S&P 500 lost 1.59, or 0.10%, to 1,519.79.
News For WMT;HLF;TGT;DG;FDO;QLIK;BKW;LOGM;FOLD From The Last 14 Days
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July 12, 2014
12:50 EDTWMTWal-Mart sued by comedian Tracy Morgan over June crash, Reuters says
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July 11, 2014
16:13 EDTLOGMPoint72 Asset reports 5.2% passive stake in LogMeln
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10:00 EDTLOGMOn The Fly: Analyst Upgrade Summary
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06:42 EDTLOGMLogMeln upgraded to Outperform from Market Perform at Cowen
July 10, 2014
14:15 EDTHLFHerbalife p.r. flurry 'smells of desperation,' Seeking Alpha contributor says
Herbalife, in an effort to inform investors that 21 independent members are traveling to Washington D.C. in support of the company, released six nearly identical press releases this morning, as noted by Seeking Alpha contributor "Quoth the Raven." Putting the news out in this way, via six press releases instead of "one, concise release is unprofessional and farcical - it smells of desperation for positive press," according to the author, who disclosed a short position in the stock. Reference Link
12:21 EDTFDOOn The Fly: Midday Wrap
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11:00 EDTFDOFamily Dollar says reduced price SKUs showing 'nice' unit lifts
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10:30 EDTFDOFamily Dollar says was 'delighted' with business done on July 4th weekend
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10:21 EDTFDOFamily Dollar says operating environment likely to remain difficult
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10:11 EDTFDOFamily Dollar says in 'early stages' of turnaround
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10:05 EDTFDOFamily Dollar says long-term growth prospects remain strong
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09:15 EDTFDOOn The Fly: Pre-market Movers
HIGHER: Zumiez (ZUMZ), up 5.7% after raising Q2 outlook... DragonWave (DRWI), up 5% after reporting better than expected Q1 results... International Game (IGT), up 3.6% after Italian press report says the company will soon get a $4B offer from GTECH... United Continental (UAL), up 2.9% after reporting June traffic. LOWER: Lumber Liquidators (LL), down 23% after downgraded at Jefferies and Credit Suisse following the company's reduced full-year outlook. Tile Shop (TTS), which also serves flooring customers, down 5.5% following Lumber Liqudators' profit warning... Family Dollar (FDO), down 1.9% after reporting Q3 earnings that missed expectations... Tractor Supply (TSCO), down 5.9% after reporting Q2 preliminary results, saying it now sees FY14 results at low end of guidance range... Liquidity Services (LQDT), down 8% after revising Q3 guidance after its sales of selected rolling stock and other assets under its Surplus Contract with the U.S. Defense Logistics Agency have ceased at the request of DLA... Potbelly (PBPB), down 18% after lowering its Q2 and FY14 outlook... Memorial Production Partners (MEMP), down 7.4% after filing to sell 8.6M shares of common units for partners... Kosmos (KOS), down 3.3% after filing to sell 17M shares of common stock.
07:26 EDTFDOFamily Dollar says Q3 results reflect economic challenges facing core customers
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07:05 EDTFDOFamily Dollar says on track to close 370 underperforming stores by end of FY
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07:05 EDTFDOFamily Dollar sees FY14 EPS $3.07-$3.17 ex-items, consensus $3.15
Sees low single digit increase in FY14 net sales, low single digit decline in SSS. Sees approx. 525 new store openings and approximately 400 store closings. Sees FY CapEx $450M-$500M. As part of its ongoing business review, the Company is taking deliberate actions to strengthen its value proposition, increase operational efficiencies and improve its financial performance. As previously announced, the Company has: Lowered prices on nearly 1,000 basic items, investing more than $50 million, on an annualized basis, to deliver more compelling values to customers; Reduced corporate overhead and re-aligned key organizational functions to improve execution and reinforce a commitment to being an efficient, low-cost retailer; Launched a process to close approximately 370 underperforming stores in the second half of fiscal 2014. Building on efforts to capture more food trips, the Company intends to further expand its cooler program beginning in fiscal 2015; Continuing to expand traffic-driving categories with a multi-year rollout of beer and wine, beginning in fiscal 2015; and Leveraging the scale and considerable diversity of the chain to launch a multi-year clustering initiative designed to enhance store productivity. The Company’s in-depth business review remains on-going, and the Board and management team continue to evaluate additional opportunities to drive efficiency in stores, and further increase value and convenience for the customer.
07:04 EDTFDOFamily Dollar sees Q4 EPS 75c-85c ex-items, consensus 78c
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07:02 EDTFDOFamily Dollar reaffirms Q4 guidance
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07:01 EDTFDOFamily Dollar reports Q3 adjusted EPS 85c, consensus 89c
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06:28 EDTFDOOptions expected to be active
Options expected to be active: LL PBPB VNO FDO WFC COST ZUMZ UAL BA
06:07 EDTWMTWal-Mart implied volatility of 11 at lower end of index mean range
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