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News Breaks
April 27, 2012
06:11 EDTHMC, BA, IP, RTN, UPS, WMT, LMT, HONOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: The Bank of Japan increased its battle against deflation by saying it will boost the volume of government bonds it purchases and buy domestic sovereign debt with longer maturities, the Wall Street Journal reports...Some 35 major U.S.-based multinational companies (WMT, IP, HON, UPS) added jobs much faster than other U.S. employers in the past two years, but nearly three-fourths of those jobs were overseas, according to a Wall Street Journal analysis...REUTERS: U.S. companies (BA, LMT, RTN) are poised to sign defense deals totaling $8B with India, according to U.S. Ambassador Nancy Powell, Reuters reports...Honda Motor (HMC) forecast a near-tripling of operating profit in the year ahead on Asian sales and a recovery in the U.S., rebounding from last year when it was hurt by the yen's record strength and natural disasters, Reuters reports...BLOOMBERG: Gold traders are more bullish after central banks expanded their bullion reserves and hedge funds raised their bets on a rally for the first time in three weeks, Bloomberg reports.
News For WMT;IP;HON;UPS;BA;LMT;RTN;HMC From The Last 14 Days
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November 12, 2014
13:47 EDTWMTEarnings Preview: Wal-Mart sees FY15 net sales up 2%-3% vs. last year
Wal-Mart Stores (WMT) is scheduled to report third quarter earnings before the market open on Thursday, November 13, 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 $1.12 on revenue of $118.35B, according to First Call. The consensus range for EPS is $1.08-$1.17 on revenue of $115.17B-$119.67B. LAST QUARTER: Wal-Mart reported second quarter EPS of $1.21, in line with estimates, on revenue of $119.3B, against estimates of $119B. Walmart U.S. comp sales were flat for the 13-week period ended August 1, and U.S. net sales increased $1.9B, or 2.7%, to over $70B. Currency exchange rate fluctuations negatively impacted net sales by approximately $700M, the company said. Wal-Mart forecast Q3 EPS of $1.10-$1.20, with U.S. comp store sales relatively flat and Sam's Club comp sales, excluding fuel, slightly positive. and increased investments in Sam's Club membership programs. The company lowered its fiscal year 2015 EPS view to $4.90-$5.15 from $5.10-$5.45, against estimates at that time of $5.15. The new full year guidance reflects incremental investments in e-commerce and higher U.S. health-care costs than previously anticipated. The annual effective tax rate is projected to be between 32%-34%. NEWS: On its Q2 earnings conference call, Wal-Mart lowered its FY15 e-commerce sales growth forecast to 25%. In mid-October, Wal-Mart said that as a result of a tougher sales environment than it anticipated a year ago, it now expects to grow net sales for FY15 between 2%-3% on last year’s $473.1B. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The company sees fiscal year 2016 net sales growth of 2%-4%, or approximately $10B-$20B of net sales growth. The company said FY16 operating expenses will grow at a rate "somewhat faster" than sales growth and operating income will be flat to slightly down. Chief Executive Officer Doug McMillon said the company will invest less in stores and more in e-commerce. Wal-Mart sees FY15 capital investments of $12.5B-$13B and FY16 capital investments $11.6B-$12.9B. Wal-Mart also sees FY16 e-commerce and digital spending of $1.2B-$1.5B. Ahead of a holiday shopping season that may be fiercely promotional, Wal-Mart is testing a program to match online prices from rivals including Amazon.com (AMZN), reported the Wall Street Journal. The company announced the "New Black Friday" will include five days of deals. STREET RESEARCH: Cleveland Research said Wal-Mart's trends softened in September and October following a strong August driven by soft traffic and less promotional activity. The firm believes Wal-Mart is positioned to maintain share during the holidays, but sees "growing caution" on the consumer spending outlook. Baird said expectations for Wal-Mart appear to be muted into the Q3 report. The firm believes sales may remain lackluster and margins may slip in the near-term, but sees international as an opportunity. During the quarter, shares were initiated with a Neutral rating at Sterne Agee. PRICE ACTION: Wal-Mart shares are up 6.9% over the last three months but are only up 0.8% year-to-date. In early afternoon trading, Wal-Mart shares are up 0.4% to $79.35.
12:15 EDTWMTWal-Mart November weekly 79 straddle priced for 2% move into Q1
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11:58 EDTWMTWal-Mart weekly volatility elevated into Q3 and holiday outlook
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08:05 EDTHONGoldman to hold a conference
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07:10 EDTBAFly Leasing to sell 8 Boeing 757 aircraft
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06:46 EDTWMTWal-Mart reminds stores to display fresh grocery products, NY Times says
Wal-Mart last month issued a memo to managers around the U.S., telling them to discount older meat and baked goods to ensure that they sell before they reach their expiration dates, according to The New York Times. The memo also reminds managers to remove expired dairy products and eggs, as well as moldy or rotting produce, from shelves, and reduce inventory, the newspaper stated. Reference Link
06:39 EDTHMCFormer heads of Honda say more focus on quality control needed, Reuters reports
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05:24 EDTWMTWal-Mart announces 'New Black Friday' event, holiday pay for associates
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05:19 EDTHONHoneywell supports environmental commitments announced by Presidents Obama, Xi
Honeywell stated, "We applaud the environmental commitments that President Obama and President Xi announced. Governments need to take meaningful steps to reduce and prevent environmental degradation to our air and communities. That is what President Obama and President Xi did. Honeywell is ready to support the broad adoption of the goals that the leaders of the world's biggest economies outlined today. Sustainable development - that includes clean air and communities - is a key building block to stronger economies around the world over the long-term. Establishing emissions reduction commitments, like the ones highlighted by President Obama and President Xi, are critical to the success of healthier global environments. The leadership demonstrated by both the U.S. and China in outlining specific goals is an important step in the right direction and we applaud both countries for their positive commitments. Technologies exist today that will help companies and government make tremendous strides immediately. Honeywell will do our part to provide the products and technologies and to reduce even further our own emissions. We should all stand ready to use existing technologies, while also continuing to innovate for a brighter future."
November 11, 2014
10:05 EDTLMTLockheed Martin awarded $40.3M contract from US Air Force
Lockheed Martin received a $40.3M contract from the U.S. Air Force for follow-on production of Paveway II Plus Laser Guided Bomb kits. The contract represents the majority share of fiscal year 2014 funding and the eighth award under the five-year indefinite delivery, indefinite quantity contract. Deliveries will begin in June 2015 and will include computer control groups and airfoil groups for GBU-10 and GBU-12 bombs. The Paveway II Plus LGB kits incorporate an upgraded laser guidance package, significantly improving overall system performance and precision.
November 10, 2014
16:00 EDTWMTOptions Update; November 10, 2014
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15:43 EDTLMTAmerican Petroleum Institute to hold a conference
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12:36 EDTWMTAbercrombie, American Eagle sink after analyst downgrades
Shares of specialty teen apparel retailers Abercrombie & Fitch (ANF) and American Eagle Outfitters (AEO) are falling after a number of analysts issued negative notes on the companies. WHAT'S NEW: Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Perform from Outperform. The company's earnings outlook has become less clear as its U.S. brand has not yet become popular, and retail brand turnarounds usually take awhile, Oppenheimer analyst Anna Andreeva wrote in a note to investors. Additionally, Abercrombie's international business, which has deteriorated further this year, faces "mounting uncertainty,” the analyst stated. The analyst slashed her price target on the name to $30 from $50. Meanwhile, Barclays analyst Matthew McClintock downgraded American Eagle Outfitters to Equal Weight from Overweight. McClintock has become more pessimistic about the outlook for American Eagle's comparative store sales in the second half of 2014, given recent data points from a number of retailers, including Abercrombie & Fitch, Kohl's (KSS), Wal-Mart (WMT), J.C. Penney (JCP), and Ann Inc. (ANN). The analyst said he saw no reason why American Eagle should significantly outperform the overall apparel sector. McClintock cut his price target on the name to $11 from $15. Meanwhile, the analyst lowered his rating on the Softline Retail sector to Negative from Positive, as he believes that the sector, which includes companies that sell products like apparel, towels, and jewelry - is facing structural difficulties that are likely to persist for the next several years. Separately, research firm Janney Capital downgraded Abercrombie to Neutral from Buy in a note to investors today. PRICE ACTION: In early afternoon trading, Abercrombie & Fitch sank 3.5% to $28.50 and American Eagle dropped 4% to $12.40.
09:00 EDTWMTWal-Mart weekly volatility increases into Q3 and holiday outlook
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08:23 EDTWMTWal-Mart expectations appear muted heading into earnings, says RW Baird
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08:08 EDTRTNRaytheon awarded $13.5M task order modification on FOCUS contract
Raytheon and its partner team have been awarded a $13.5M task order modification on the Warfighter Field Operations Customer Support contract to add more Afghan pilots to the New Dawn training program. An additional 24 fixed-wing and four rotary-wing Afghan Air Force pilots will be trained. Based in the United Arab Emirates, the New Dawn program trains Afghan Air Force Officers to a level equivalent to a commercial pilot certification. Upon graduation, the pilots return to Afghanistan for service as aviators in that nation's Air Force.
07:12 EDTBACA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
06:51 EDTHMCHonda to prioritize quality over sales goal, Reuters reports
Honda 's CEO said quality improvements would be more important to the company than its 6M car sales target for the year starting April 2016, according to Reuters. Honda is recalling millions of its cars to repair potentially defective air bags, the news service noted. Reference Link
05:45 EDTHONHoneywell to boost refinery operations in Turkey
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05:29 EDTBABoeing, SMBC Aviation announce order for 80 737 MAXs
Boeing and SMBC Aviation Capital announced an order for 80 737 MAX 8s, valued at more than $8.5B at list prices. This is the largest single order for 737 MAXs from a leasing company and will help SMBC Aviation Capital grow its portfolio of high-demand, fuel-efficient airplanes. Boeing's Current Market Outlook forecasts that airlines will need more than 25,600 single-aisle airplanes like the 737 MAX over the next 20 years.
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