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Stock Market & Financial Investment News

News Breaks
March 1, 2012
12:27 EDTWMT, HUSA, VE, PEGA, GM, F, FIATY, GPS, TGT, M, DGIOn The Fly: Mid-Day Wrap
Stocks on Wall Street were higher at mid-day, as unemployment claims remained relatively low and retail sales rose. Each of the major indices is higher, with the Nasdaq near its highs of the day. The futures received a boost following in-line jobless claims data, and after the bell rang investors generally ignored the worse-than-expected construction spending number and the ISM data which also fell short of forecasts. The market weakened ever so slightly but continues to show it is resiliency, with the Nasdaq poised to overtake the 3000 level again... ECONOMIC EVENTS: Domestically, 351,000 initial jobless claims were reported, versus the expected 355,000. Personal income for the month of January showed an increase of 0.3%, versus the expected increase of 0.5%, while personal spending was up 0.2%, versus the expected increase of 0.4%. Construction spending fell 0.1% in January, versus expectations for an increase of 1.0%. The ISM manufacturing index read 52.4, which was below the expected 54.5. In Europe, sovereign debt yields declined following the latest LTRO and ISDA ruled that no "credit event" had occurred due to Greece's debt swap arrangements. In China, the official PMI reading came in at 51, which was a month-over-month improvement and indicated expansion... MARKET NEWS: Wal-Mart (WMT) raised its dividend by about 9%. In other retail news, February same store sales were generally strong, with Macy's (M) reporting comparable sales up 4.6% and Target (TGT) saying SSS were up 7%. Among clothing retailers, Gap (GPS) was one of the biggest beneficiaries of a report that surprised to the upside... All the auto makers reporting so far this morning announced increased sales, with Chrysler (FIATY) saying sales were up 40% in February, Ford (F) up 14% and General Motors (GM) up 1% in spite of forecasts that its sales would have declined... MAJOR MOVERS: Among the notable gainers were Pegasystems (PEGA), after its earnings and revenue beat Street expectations, and Veolia Environment (VE), after it reaffirmed its 2012-2013 goal to sell EUR5B in assets and said it is in exclusive talks with an undisclosed investor to sell its stake in its transport unit. Noteworthy losers included Houston American Energy (HUSA), after revealing that its Tamandua #1 well has been plugged, and DigitalGlobe (DGI), following a report of adjusted earnings that missed estimates... INDICES: Near 12:20 pm ET, the Dow was up 49.38, or 0.38%, to 13,001.45; the Nasdaq was up 22.73, or 0.77%, to 2,989.62; and the S&P 500 was up 8.74, or 0.64%, to 1,374.42.
News For WMT;M;TGT;GPS;FIATY;F;GM;PEGA;VE;HUSA;DGI From The Last 14 Days
Check below for free stories on WMT;M;TGT;GPS;FIATY;F;GM;PEGA;VE;HUSA;DGI the last two weeks.
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August 20, 2014
20:03 EDTFFord planning hybrid to compete with Toyota Prius, Reuters reports
Ford (F) is planning to introduce a new hybrid gasoline-electric car in late 2018 to compete against the Toyota (TM) Prius, according to Reuters, citing two sources with knowledge of the company's plans. It will be the company's first "dedicated" hybrid, unlike the hybrid Fusion, which is a variation of an existing gasoline model. Reference Link
12:37 EDTTGTOn The Fly: Midday Wrap
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11:11 EDTTGTTarget sees Q3 EBITDA to benefit from expense optimization, Q3 SSS flat to up 1%
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08:31 EDTMMacy's reaches agreement with NY AG on racial profiling allegations
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08:30 EDTWMTWal-Mart management to meet with MKM Partners
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08:04 EDTTGTTarget reports Q2 U.S. segment SSS flat
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08:03 EDTTGTTarget cuts FY14 adjusted EPS view to $3.10-$3.30 from $3.60-$3.90
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08:02 EDTTGTTarget sees Q3 adjusted EPS 40c-50c, consensus 65c
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08:01 EDTTGTTarget says better U.S. sales have continued into August
"While results from the quarter didn’t meet our expectations, we are seeing some early signs of progress as we work to improve results in the U.S. and Canada,” said John Mulligan, executive vice president and CFO of Target Corporation. “In the U.S., traffic trends continue to recover and monthly sales are improving, with July comparable sales up more than 1 percent. Better U.S. sales have continued into August, driven by early back-to-school results. In Canada, the team is making important changes to operations and the merchandise assortment with a focus on delivering improved results by this holiday season.”
08:01 EDTTGTTarget reports Q2 adjusted EPS 78c, consensus 79c
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August 19, 2014
15:16 EDTTGTNotable companies reporting before tomorrow's open
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14:42 EDTTGTTarget August weekly 59.5 straddle priced for 2.4% move into Q2
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13:04 EDTTGTTarget technical comments before earnings
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13:00 EDTTGTEarnings Preview: Target cuts Q2 EPS view to reflect flat U.S. segment SSS
Target (TGT) is scheduled to report second quarter results before the market open on Wednesday, August 20, with a conference call scheduled for 10:30 am ET. Target offers merchandise at discounted prices through its retail stores and online business. EXPECTATIONS: Analysts are looking for earnings per share of 79c on revenue of $17.38B, according to First Call. The consensus range for EPS is 78c-91c on revenue of $17.28B-$17.5B. LAST QUARTER: Target reported first quarter adjusted EPS of 70c on revenue of $17.05B, against estimates for 71c and $17.01B, respectively. U.S. comparable sales decreased 0.3% in Q1, near the high end of the expected range. Target was unable to estimate future expenses related to the data breach that occurred in the fourth quarter of 2013, but said costs may have a "material adverse effect" on Q2 and FY14 results. NEWS: In July, Target named Brian Cornell as chairman and Chief Executive Officer, effective August 12. Cornell most recently served as the CEO of PepsiCo (PEP) Americas Foods. Chief Financial Officer and former interim CEO John Mulligan previously told CNBC that he would be "happy" transitioning back to CFO role. The company cut its Q2 adjusted EPS guidance to "within a range around 78c" from 85c-$1.00, which excluded approximately 2c related to the expected reduction of its beneficial interest asset, as well as any net expenses related to the data breach. The updated guidance reflects U.S. Segment essentially flat comparable sales with lower-than-expected EBITDA margin driven by promotional markdowns, as guests continue to spend cautiously and focus on value in the current environment, and Canadian segment's somewhat softer-than-expected sales combined with the impact of continued investments to clear excess inventory. The Q2 results are also expected to include gross expenses of $148M related to the December 2013 data breach. Mulligan commented that the environment in both the U.S. and Canada "continues to be challenging, and results aren’t yet where they need to be," but noted that the retailer is making progress in efforts to drive U.S. sales and traffic and improve Canadian operations. Target plans to extend the hours at over 50% of its U.S. locations in an effort to increase the number of customers who shop later in the day, according to the Wall Street Journal, citing a spokesperson. STREET RESEARCH: Goldman downgraded Target to Neutral from Buy and cut its price target to $59 from $65 to reflect estimate cuts following the Q2 pre-announcement, lack of catalysts, and e-commerce devaluation of general merchandise retailers. Baird thinks that Target may see better results later in 2014 and could restart its share buybacks at some point in the second half of the year, but sees stiff competition in Target's space. Wells Fargo wrote that the costs related to the data breach are on track to come in well below the $1B that some had initially feared. PRICE ACTION: Target shares are up almost 2% over the past three months. In intra-day trading ahead of tomorrow's earnings report, shares are up more than 1% to $59.35.
10:13 EDTFIATYOn The Fly: Analyst Initiation Summary
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09:41 EDTGMGM recalls Silverados, Sierras equipped with auxiliary battery
GM is recalling certain model year 2007-2011 Chevrolet Silverado HD 2500/3500 trucks manufactured January 18, 2007, to June 22, 2011, and GMC Sierra HD 2500/3500 trucks manufactured January 22, 2007, to June 21, 2011, and equipped with an auxiliary battery. Owners may unknowingly draw too much current through the vehicle's trailer harness resulting in the melting of fusible link for the auxiliary battery. If the fusible link melts it may come into contact with adjacent components, damage the electrical center cover, the nearby wiring harness conduit and other vehicle components, increasing the risk of a fire. GM will notify owners and dealers will replace the jumper harness with one that includes a 40 amp inline fuse, and provide the owner with supplemental Owner Manual information, free of charge. The manufacturer has not yet provided a notification schedule. Reference Link
09:38 EDTGMGM recalls cars equipped with Calix oil pan, block heater
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08:02 EDTGMBorgWarner supplies solenoid technology for General Motors' GF6
BorgWarner (BWA) supplies its mini direct-acting variable force solenoid for General Motors' (GM) global front-wheel drive 6-speed automatic transmission program, or GF6.
07:07 EDTTGTTarget weekly volatility increases into Q2 and outlook
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05:21 EDTFIATYFiat initiated with an Underperform at Credit Suisse
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