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Stock Market & Financial Investment News

News For WMT;TGT;COST;DG;FDO From The Last 14 Days
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May 29, 2015
09:44 EDTWMTNew York AG announces $98,000 settlement with Wal-Mart
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08:29 EDTDGDollar General June weekly volatility elevated into Q1 and outlook
Dollar General June weekly call option implied volatility is at 34, June is at 29, July is at 22, August is at 21; compared to its 52-week range 19 to 44, suggesting large near term price movement into its expected release of Q1 results on June 2.
May 28, 2015
11:24 EDTCOSTCostco says thinks margins 'in good shape' overall
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11:06 EDTCOSTCostco says first few weeks of May "just fine"
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10:47 EDTCOSTCiti have right to move forward with Costco deal if no receivables
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09:34 EDTCOSTActive equity options trading on open
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09:03 EDTDGDollar General names COO Todd Vasos as CEO
Dollar General Corporation announced that effective June 3, its board of directors has named Todd J. Vasos, COO, to the position of CEO and has elected him to the board. Vasos will succeed Rick Dreiling, chairman and CEO, who had previously announced his retirement plans. Dreiling will remain on the board for the remainder of his term and will serve as senior advisor and chairman of the board through January 29, 2016. The election of Vasos to Dollar Generalís board will bring the total number of directors to nine.
06:23 EDTTGTTarget: 'We'll be open-minded' about supporting payment systems, Re/code say
Brian Cornell, the CEO of Target (TGT) told the Code Conference that the company's focus is to complete the transition to using secure chip-and-PIN credit cards by the holidays, but once that is done, "we'll be open-minded" about supporting other payment systems like Apple Pay (AAPL), Re/code reports. Cornell says he has met with Apple CEO Tim Cook. Reference Link
05:58 EDTTGTTarget CEO says would be open to Uber partnership, Re/code reports
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May 27, 2015
21:30 EDTCOSTCostco reports Q3 EPS $1.17, consensus $1.16
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15:52 EDTCOSTCostco May 145 weekly straddle priced for 2.3% movement into Q3
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15:30 EDTCOSTNotable companies reporting after market close
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15:15 EDTWMTWal-Mart settles lawsuit over NJ Turnpike accident with Tracy Morgan
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14:47 EDTWMTWal-Mart holds a management update
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07:21 EDTCOSTCostco May weekly volatility elevated into Q3 and outlook
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May 26, 2015
09:58 EDTDGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: L Brands (LB) upgraded to Conviction Buy from Buy at Goldman... Dollar General (DG) upgraded to Conviction Buy from Buy at Goldman... Accenture (ACN) upgraded to Outperform from Market Perform at Cowen... Expedia (EXPE) upgraded to Outperform from Market Perform at JMP Securities... The Fresh Market (TFM) upgraded to Neutral from Underperform at Longbow... Marvell (MRVL) upgraded to Overweight from Equal Weight at Morgan Stanley... Health Care REIT (HCN) upgraded to Buy from Neutral at Mizuho... Gold Fields (GFI) upgraded to Buy from Hold at HSBC... eBay (EBAY) upgraded to Buy from Hold at Axiom... CNOOC (CEO) upgraded to Neutral from Underweight at JPMorgan... Quintiles (Q) upgraded to Buy from Neutral at SunTrust... DCT Industrial (DCT) upgraded to Neutral from Underperform at Credit Suisse... Pebblebrook Hotel (PEB) upgraded to Outperform from Neutral at Credit Suisse... Fortinet (FTNT) upgraded to Buy from Hold at Needham... BB&T (BBT) upgraded to Buy from Neutral at Guggenheim... Hercules Technology (HTGC) upgraded to Outperform from Neutral at Macquarie... InterXion (INXN) upgraded to Buy from Hold at Stifel.
06:19 EDTDGDollar General upgraded to Conviction Buy from Buy at Goldman
Goldman added Dollar General to the Conviction Buy List and increased its price target to $87 from $85. The firm sees a positive inflection in fundamentals given favorable low-income consumer tailwinds and a reduced margin drag from tobacco, sustainable competitive advantages driving long-term growth, and attractive valuation.
06:16 EDTTGTAbbott to start selling G.M.O-free Similac Advance formula, NY Times reports
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May 25, 2015
18:12 EDTWMTWal-Mart asks suppliers for less antibiotics, better animal conditions, WSJ says
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May 22, 2015
16:41 EDTWMTStocks end week little changed despite weaker than expected domestic data
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14:09 EDTTGTTarget $19M settlement with MasterCard rejected by banks, Star Tribune reports
Target (TGT) and MasterCard (MA) have both confirmed that their proposed $19M settlement over Target's data breach was not approved by the requisite 90% of banks affected, which appears to send the dispute back to a federal lawsuit that is seeking class action status, reported The Star Tribune. ďAt this stage we will continue to work to resolve the matter,Ē stated MasterCard, according to the report. Reference Link
08:29 EDTCOSTCostco May weekly volatility elevated into Q3 and revenue outlook
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May 21, 2015
17:34 EDTTGTGoogle data shows link between mobile ads, store visits, WSJ says
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07:44 EDTFDODollar Tree intends to close proposed Family Dollar merger in early July
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07:09 EDTTGTTarget reported solid results, says Wells Fargo
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May 20, 2015
18:40 EDTTGTTarget looks cheap, Barron's says
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10:59 EDTTGTTarget sees Q2 comparable sales up 2%-2.5%
Sees Q2 gross margin rate to improve 50 basis points.
10:55 EDTTGTTarget plans to review with board for need to increase share repurchases
10:54 EDTTGTTarget reports Q1-end inventory 9% higher than a year ago
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10:42 EDTTGTTarget expects to open six additional Target Express locations in 2015
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09:36 EDTTGTActive equity options trading on open
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08:06 EDTTGTTarget CEO says pleased with Q1 traffic, sales
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08:05 EDTTGTTarget incurred breach-related expenses of $3M in Q1
Target incurred breach-related expenses of $3M in Q1, compared with $18M of net pre-tax expense last year. Since 4Q13, Target has incurred net expense related to the data breach of $166M, reflecting $256M of gross expense, partially offset by the recognition of a $90M insurance receivable. As of April 12, Target Canada completed its inventory liquidation efforts and closed the last of its 133 Canadian retail stores. A court-approved real estate sales process is underway and expected to be complete by the end of June, Target said. Consistent with expectations, after-tax losses from discontinued operations were $16M in Q1, compared with $153M last year. Certain assets and liabilities of Targetís discontinued operations are based on estimates. "The company believes it is reasonably possible that future adjustments to these amounts could be material to its results of operations in future periods. Any such adjustments would be recorded in discontinued operations," Target stated.
08:03 EDTTGTTarget sees Q2 adjusted EPS $1.04-$1.14, consensus $1.12
08:02 EDTTGTTarget raises FY15 adjusted EPS view to $4.50-$4.65 from $4.45-$4.65
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08:01 EDTTGTTarget reports Q1 adjusted EPS $1.10, consensus $1.03
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07:49 EDTTGTCherokee partnerships add to long-term growth, says Brean Capital
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May 19, 2015
16:23 EDTWMTOn The Fly: Top stock stories for Tuesday
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16:01 EDTWMTOptions Update; May 19, 2015
iPath S&P 500 VIX Short-Term Futures down 27c to 19.17. Option volume leaders: AAPL BAC WMT MSFT FB TWTR MNKD NFLX T PBR
15:00 EDTTGTNotable companies reporting before tomorrow's open
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14:41 EDTTGTTarget (TGT) May weekly 78 straddle priced for 3.6% movement Q1
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14:38 EDTTGTTarget volatility elevated into Q1 and outlook
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13:04 EDTTGTEarnings Watch: Lowe's sees FY15 EPS $3.29, strongest comps of year in Q1
Lowe's Companies (LOW), a home improvement retailer, is scheduled to report on its first quarter before the market open on Wednesday, May 20, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 74c on revenue of $14.27B, according to First Call. The consensus range for EPS is 69c-80c on revenue of $13.97B-$14.52B. LAST QUARTER: Lowe's reported fourth quarter EPS of 46c on revenue of $12.54B, beating analyst's estimates of 44c and $12.31B, respectively. The company also reported Q4 same-store sales rose 7.3%, with U.S. comparable sales up 7.4%. The company forecast fiscal year 2015 EPS $3.29 against estimates at that time for $3.28 and said it expects revenue up 4.5%-5% in the fiscal year compared to last. Lowe's also forecast FY15 SSS up 4%-4.5% and said it expects to report the highest comp for FY15 in Q1. On its earnings conference call, the company said it expects higher comps in the first half of 2015 than the second half. The company said it expects jobs, incomes and household financial conditions to improve in 2015. NEWS: During the quarter, Lowe's announced a new $5B share repurchase program, which has no expiration date and adds to the previous program's balance, which was $2.4B at January 30. Seeking Alpha contributor Xuhua Zhou, described as a hedge fund analyst, recently wrote in a blog post that "research confirms Lowe's is guilty of formaldehyde noncompliance in sourcing laminate flooring from China." The Consumer Products Safety Commission and Environmental Protection Agency should include Lowe's products in their safety testing of Lumber Liquidators' (LL) wood, the writer believes. A Lowe's spokesperson told Bloomberg that the Tescun flooring is being removed from stores. Lowe's Canada recently reached an agreement to acquire the leases of 13 former Target (TGT) Canada Locations and will buy Target's Milton, Ontario distribution center for approximately C$151M. STREET RESEARCH: On the day after its last earnings report, UBS raised its price target on Lowe's to $83 from $75, citing the company's big ticket comp growth, the improving economy and pent up demand from consumers putting projects on hold since the downturn. Argus also raised its price target, to $82 from $70, and said its confidence in the company's ability to generate profitable growth has increased. In March, Oppenheimer raised its price target on Lowe's to $85 from $77 and said the stock has a number of positive catalysts, including solid U.S. consumer spending trends, significant slack in the U.S, housing recovery, improving market sentiment and investors' interest in domestic plays as the dollar strengthens. BofA/Merrill said the home improvement space is one of the more attractive areas within retail and recommends buying Lowe's. The firm remains positive on the company's earnings growth and lack of negative catalysts. PRICE ACTION: Over the last three months, Lowe's shares are up nearly 1%. In early afternoon trading ahead of Wednesday's report, Lowe's is fractionally lower at $72.77.
12:47 EDTTGTEarnings Watch: Target sees FY15 adjusted EPS $4.45-$4.65, 2%-3% sales growth
Target (TGT) is scheduled to report first quarter results before the market open on Wednesday, May 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 $1.03 on revenue of $17.09B, according to First Call. The consensus range for EPS is 85c-$1.09 on revenue of $16.98B-$17.25B. LAST QUARTER: Target reported fourth quarter adjusted EPS of $1.50 on revenue of $21.75B, beating analysts' estimates for $1.46 and $21.63B, respectively. The company said comparable sales increased 3.8% in Q4, reflecting a 3.2% increase in comparable transactions. Target said digital channel sales contributed 0.9 percentage points to SSS growth. Target forecast Q1 adjusted EPS 95c-$1.05, SSS up about 2% and said its top priority is to drive digital sales growth. The company said it could be in a position to revisit stock buybacks later this year and noted that its workers' wages are "competitive." NEWS: At its Financial Community Meeting on March 3, Target forecast fiscal year 2015 adjusted EPS $4.45-$4.65, against estimates at that time for $4.50, on sales growth of 2%-3% for the fiscal year. The company also forecast 10% annual EPS growth for 2016 and beyond, as well as 5%-10% annual dividend growth. Target forecast $2B in savings in expenses and cost of goods over the next two years and 9.5%-10% EBITDA margins over the next five years. As for share repurchases, Target sees $2B this year, and said it continues to support the dividend and repurchase "billions." Looking to FY15, Target forecast FY15 capital expenditures of $2.1B and sees expected CapEx of $2B-$2.5B over the next five years. Target said its gross margin rate of 29.5% is "achievable." Target said it would focus on categories including style, baby, kids and wellness. As part of its $2B cost savings plan, Target said it will cut "several thousand jobs." Target said in a filing that on March 10, the company notified approximately 1,700 employees whose employment will be terminated as part of an overall plan to transform Targetís business. The company said it expects to incur severance costs of $10M. During the quarter, Target said it planned to raise its minimum pay for all workers to at least $9 an hour starting in April, according to The Wall Street Journal, and agreed to pay $10M to settle a class action lawsuit related to its 2013 data breach, Reuters reported. Target reached a settlement with MasterCard (MA) to resolve claims by MasterCard and its issuers related to the retailerís 2013 data breach. Under the agreement, Target will make available up to $19M in alternative recovery offers to eligible banks and credit unions across the globe. Target Canada said it would close the last 133 retail stores by April 12. Target also announced plans to sell its Target Commercial Interiors subsidiary to Omni Workspace. The retailer launched the Lilly Pulitzer for Target collection in April, which rendered its website inaccessible for short time after it was overwhelmed by customer traffic, The WSJ said. The WSJ also reported that, according to sources, Target gave notice to Campbell Soup (CPB), General Mills (GIS), Kellogg (K), Kraft Foods (KRFT) and others that it will reduce their presence in Target circulars and in-store advertisements. STREET RESEARCH: Following Target's analyst meeting, Wells Fargo said it thinks the company's operating plan sets the stage for the company to potentially beat expectations in 2015 and beyond. The firm believes that"outsized digital growth" or new products could enable Target's results to beat expectations. Piper Jaffray views Target's long term earnings algorithm, which is based on a 1% store comp and 40% growth in digital sales annually, as realistic and the company's capital deployment as encouraging. BofA/Merrill upgraded Target to Buy from Neutral in April and increased its price target to $92 from $86. The firm believes Target is well positioned to benefit from an improving middle-income core customer base. The firm said customers are responding well to improved assortment and merchandising and expects Target to continue to see increased spending at stores and online as customers trade-up to more expensive items. PRICE ACTION: Target shares are up over 1.6% over the past three months. In early afternoon trading ahead of Wednesday's earnings report, shares are down 0.51% to $77.96.
12:25 EDTWMTOn The Fly: Top stock stories at midday
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09:37 EDTWMTActive equity options trading on open
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07:22 EDTWMTWal-Mart drops 2% after Q1 earnings miss expectations
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07:21 EDTWMTWal-Mart now sees forex hurting FY16 net sales by $14B
Wal-Mart CFO Charles Holley said on the company's Q1 earnings call that the company expects currency to remain a "significant headwind" for the year. Assuming exchange rates remain where they are today, the impact on full year net sales would be approximately $14B, which compares to guidance in February of approximately $10B. Assuming exchange rates remain where they are today, the impact on FY16 EPS would be approximately 13c per share, compared to prior guidance of 10c per share.
07:18 EDTWMTWal-Mart says Q1 Sam's Club results 'disappointing'
Rosalind Brewer said on Wal-Mart's Q1 earnings call that Samís Club Q1 results were "disappointing, as comp sales missed guidance, and we delivered softer net sales and profit than last year." Sam's Club reported Q1 comp sales without fuel up 0.4%, with traffic down 0.2% and ticket up 0.6%. Sam's Club expects comp sales for the 13-week period ending July 31 to be between flat and up 2%.
07:14 EDTWMTWal-Mart reports Q1 global e-commerce sales up about 17%
Walmart U.S. e-commerce saw double-digit comp growth across many departments, the company said. Walmart U.S. mobile traffic was up over 100% for the quarter Walmart U.S. saw higher conversion rates as well, the company added. Comments from Q1 earnings conference call.
07:05 EDTWMTWal-Mart sees Q2 EPS $1.06-$1.18, consensus $1.17
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07:03 EDTWMTWal-Mart reports Q1 EPS $1.03, consensus $1.04
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May 18, 2015
15:35 EDTWMTWal-Mart May 79.5 weekly straddle priced for 2.4% movement into Q1
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15:15 EDTWMTWal-Mart May weekly volatility increases into Q1 and outlook
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15:00 EDTWMTNotable companies reporting before tomorrow's open
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14:35 EDTWMTWal-Mart technical comments ahead of results
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14:04 EDTWMTEarnings Watch: Wal-Mart sees Q1 EPS 95c-$1.10, U.S. SSS up 1%-2%
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07:46 EDTCOSTAmerican Express has $850M revenue opportunity with Plenti, says Deutsche Bank
Deutsche Bank estimates the coalition loyalty/rewards program Plenti represents a $750M-$850M annual revenue opportunity for American Express (AXP) over the next 3-5 years. Earnings accretion will take time, but returns on equity are likely "very high," Deutsche says in a research note. The firm believes Plenti is an example of how Amex is leveraging its strengths to mitigate the loss of Costco (COST). It thinks Plenti's next program supplier needs to be a grocery chain, and pegs Whole Foods (WFM) as a good candidate. Deutsche keeps a Buy rating on American Express with a $90 price target.
07:21 EDTWMTWal-Mart Q1 should benefit from lower gas, stronger consumer, says Stephens
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06:30 EDTWMTWal-Mart to repair stores in labor dispute, Reuters reports
Wal-Mart said it would seek permits to rip up floors and replace plumping lines at five stores that justified its abrupt closure, reports Reuters. The move follows a union-backed complaint to the National Labor Relations Board last month after Wal-Mart temporarily closed the stores. The union accused the company for shutting down the stores to stop workers from organizing. Reference Link
May 17, 2015
19:11 EDTTGTTarget to reduce advertising space for certain large brands, WSJ says
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May 15, 2015
17:33 EDTDGPoint72 Asset Management gives quarterly update on stakes
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17:07 EDTFDOTrian Fund gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: PepsiCo (PEP), Mondelez (MDLZ), Bank of New York Mellon Group (BK), and Du Pont (DD). DECREASED STAKES: Family Dollar (FDO), and Ingersoll-Rand (IR). LIQUIDATED STAKES: Lazard (LAZ).
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