New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 15, 2014
17:02 EDTICPT, NDLS, RRGB, SEAS, EPB, KMR, KMP, EBAY, AMZN, KATE, CSCO, KMI, JCP, M, WMTStocks end week slightly higher despite flare-up in Russian tensions
Stocks on Wall Street were higher for the week as earnings season wound down and geopolitical events, primarily in Russia, took center stage once again. MACRO NEWS: In the U.S., the NFIB's small business confidence index rose 0.7% to 95.7 in July, though that was below the expectation for a 96.0 reading. Retail sales were flat in July, versus an expected 0.2% increase. 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. The Producer Price Index increased 0.1% overall, matching expectations. The first University of Michigan consumer confidence reading for August fell 2.6 points to 79.2, versus expectations for it to have edged up to 82.0. In Europe, growth in the shared currency zone stagnated, with Q2 GDP slipping to unchanged. The biggest economy in the region, Germany, saw its GDP contract 0.2% in the quarter. In Asia, a measure of new credit in China came in at $44.3B in July, marking its lowest monthly total since October 2008. China's industrial production grew 9.0% year-over-year in the month, versus expectations for 9.2% growth. Japan's second quarter GDP fell an annualized 6.8%, which was slightly better than the expectation for a 7% decline. COMPANY NEWS: Wal-Mart (WMT) 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, Wal-Mart shares finished the day that it reported up about 0.5%, but the stock lost about 1% for the week. Among the other noteworthy losers following their earnings reports were Macy's (M), J.C. Penney (JCP), Kate Spade (KATE), SeaWorld (SEAS), King Digital (KING), Red Robin Gourmet Burgers (RRGB), and Noodles & Company (NDLS)... Cisco Systems (CSCO) reported higher than expected sales and profits for its fiscal fourth quarter. However, the Dow Jones Industrial Average component declined on the day after its report 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... Shares of Kinder Morgan (KMI) advanced after the company announced plans to consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB)... Amazon.com (AMZN) advanced after the company launched "Amazon Local Register," a credit-card device and mobile app to help small business owners accept payments that will go head-to-head with competing systems from Square and eBay's (EBAY) PayPal unit... Intercept Pharmaceuticals (ICPT) rose after data from a trial of its liver disease drug OCA showed improved safety as well as a statistical benefit in reversing liver fibrosis. INDEXES: For the week, the Dow gained about 0.66% to close at 16,62.91; the S&P 500 rose about 1.21% to close at 1,955.06; the Nasdaq advanced about 2.14% to close at 4,464.93.
News For WMT;M;JCP;KMI;CSCO;KATE;AMZN;EBAY;KMP;KMR;EPB;SEAS;RRGB;NDLS;ICPT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | all recent news | >>
October 8, 2014
11:06 EDTJCPJ.C. Penney says expects to be free cash flow positive in FY14
Subscribe for More Information
11:05 EDTJCPJ.C. Penney falls 6%, halted for circuit-breaker after providing guidance
Subscribe for More Information
11:03 EDTJCPJ.C. Penney now sees Q3 SSS up low single digits vs. previous guidance
Subscribe for More Information
11:01 EDTJCPJ.C. Penney says has seen slow down in sales in September
Subscribe for More Information
11:00 EDTJCPJ.C. Penney reaffirms all FY guidance metrics
Subscribe for More Information
10:59 EDTJCPJ.C. Penney sees $14.5B in total sales by 2017
CFO Ed Record says focused on restoring profitability. Says since 4Q13, has had three straight quarters of sales growth. Sees opportunities to improve SG&A and gross margin. Sees $3.5B sales growth opportunity over next three years: Sees continued share growth a $1M opportunity over three years, center core a $1M opportunity, home store a $750M opportunity, omnichannel a $800M opportunity. Sees $1.2B EBITDA growth opportunity over next three years. Sees sales growth in mid single digits through 2017. Free cash flow over next three years "at least" $600M. Comments made at J.C. Penney's Analyst Day.
10:33 EDTJCPJ.C. Penney says seeing "significant" shift to mobile
Subscribe for More Information
10:25 EDTJCPJ.C. Penney says home is $750M growth opportunity
Subscribe for More Information
09:42 EDTAMZN, EBAYeBay SSS rose 8.9% in September, Amazon SSS up 37.9%, ChannelAdvisor says
Amazon's (AMZN) September SSS rose 37.9%, a decrease compared to August's 45.1%, ChannelAdvisor reported. eBay's (EBAY) September came in at 8.9% up from August's 5.9%, but below the e-commerce growth rate. "This is the first up-tick in eBay SSS since June and indicates that eBay is recovering from the breach and Google issues," ChannelAdvisor stated. Reference Link
09:38 EDTCSCOCisco breakup would not create much value, says Citigroup
Citigroup says its analysis shows that a breakup of Cisco would not create much more value than the current share price. With CEO John Chambers' likely retirement next year, however, Citi thinks the Cisco board is likely to at least entertain the option of a split. The firm sees a low probability of a breakup taking place and keeps a Sell rating on Cisco shares. Citi upped its price target for the stock to $22 from $20.50. Citi's analysis of Cisco follows breakup decisions by HP (HPQ) and JDSU (JDSU) and Bloomberg's report this morning that Symantec (SYMC) is in advanced talks to split into two separate companies. This report corrects the rating on Cisco shares to Sell.
09:23 EDTMCitigroup to hold a tour
Athletic Footwear Mall Tour travels to Roosevelt Field Mall, Garden City, New York on October 8.
09:20 EDTJCPJ.C. Penney says will expand Disney stops in stores to 680 from 500
09:20 EDTJCPJ.C. Penney CEOsays will open more Sephora shops in store
Subscribe for More Information
09:20 EDTICPT, JCPOn The Fly: Pre-market Movers
Subscribe for More Information
08:18 EDTJCPJ.C. Penney CEO Ullman says customers remain cautious
Subscribe for More Information
08:10 EDTEBAYeBay survey suggests upswing in growth, says RW Baird
Subscribe for More Information
07:05 EDTICPTIntercept says FLINT trial NASH data will not be presented at AASLD
Intercept Pharmaceuticals announced upcoming presentations of data at the upcoming American Academy for the Study of Liver Diseases, or AASLD, Annual Meeting, being held in Boston, Massachusetts from November 7-11. Obeticholic acid, or OCA, Intercept's lead product candidate, is a bile acid analog and first-in-class agonist of the farnesoid X receptor in development for primary biliary cirrhosis, nonalcoholic steatohepatitis, primary sclerosing cholangitis and other chronic liver and intestinal diseases. CEO Mark Pruzanski said, "We are pleased that several key abstracts from Intercept's Phase 3 program for OCA in PBC will be presented at AASLD. With respect to the NIDDK-sponsored FLINT trial of OCA in NASH, we have learned that the NASH CRN has decided to focus on finalizing the manuscript intended for near term publication in lieu of presentation at AASLD. We are reaffirming the previously reported top-line results based on a revised draft manuscript that our partners at NIDDK have provided us. We believe that peer reviewed publication of the FLINT data will mark another important milestone supportive of OCA's potential as a novel therapy for patients with NASH and associated liver fibrosis. In the meantime, we continue preparing for the initiation of our Phase 3 NASH program in the first half of 2015."
06:53 EDTAMZNAmazon has not enacted Luxembourg special tax agreements, Reuters says
Subscribe for More Information
06:35 EDTCSCOCisco's reorganization affects up to 25,000 employees, Business Insider reports
Cisco's reorganization of its routing and switching engineering business could affect up to 25,000 employees, reports Business Insider. Citing sources in Silicon Valley, the reorganization involves massive changes for the unit, moving from individual teams to two big overarching teams with one group focused on software and the other on hardware. Due to the changes, sources say a lot of senior employees have begun send out resumes. Reference Link
06:13 EDTAMZNNon-Apple notebook, tablet demand to be weak till 2Q15, DigiTimes reports
Demand for non-Apple (AAPL) notebooks and tablets may remain weak until the second quarter of 2015, reports DigiTimes. Citing Taiwan makers, the pressure due to booming sales from Apple products may decrease sales until Microsoft (MSFT) launches Windows 10 next year. Demand for Samsung (SSNLF), Sony (SNE) , And HTC smartphones have also dropped worldwide recently. Reference Link
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use