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Stock Market & Financial Investment News

News Breaks
April 28, 2014
11:58 EDTJCP, YNDXStocks with call strike movement; YNDX JCP
Yandex (YNDX) August 26 call option implied volatility decreased 2% to 56, J.C. Penney (JCP) August 10 call option implied volatility decreased 3% to 53 according to IVolatility.
News For YNDX;JCP From The Last 14 Days
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August 17, 2015
07:17 EDTJCPJ.C. Penney initiated with a Buy at B. Riley
B. Riley initiated J.C. Penney with a Buy rating and $12.50 price target. The firm sees positive business trends, despite industry headwinds, and numerous opportunities for margin recovery.
06:51 EDTJCPJ.C. Penney price target raised to $17 from $15 at Piper Jaffray
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05:44 EDTJCPJ.C. Penney initiated with a Buy at B. Riley
B. Riley analyst Jeff Van Sinderen started shares of J.C. Penney with a Buy rating and $12.50 price target. The retailer closed Friday at $8.52. Sinderen views Penny as a "speculative turnaround" story and believes the company's "substantial" real estate assets partially offset its heavy debt load.
August 14, 2015
16:13 EDTJCPOn The Fly: Top stock stories for Friday
Stocks began the session with modest losses despite a calm overnight trading session for the Chinese yuan. The U.S. economic data that was released prior to the open were generally in-line with expectations leaving little for investors to key in on during the market hours. As a result, the averages drifted several times across the flat line until finally moving higher in the afternoon. Even the price of crude was fairly stale throughout the session, but it still closed toward its low of the day. The market received a slight boost toward the end of the session when headlines out of Europe said the area's finance ministers agreed to implement the Greek bailout with a couple of additional measures. ECONOMIC EVENTS: In the U.S., both industrial production and PPI beat estimates, with industrial production increasing 0.6% and PPI increasing 0.2%. Consumer sentiment for August fell to 92.9 in the preliminary report from the University of Michigan survey, after slipping to 93.1 in July from 96.1 in June. Meanwhile, Euro-area GDP rose 0.3% last quarter. Germany's economy grew 0.4%, Italy's 0.2%, while France stagnated. The Baker Hughes North American rig count report was unchanged from last week at 884 rigs. COMPANY NEWS: Nelson Peltz's Trian Fund Management disclosed a new 7.08% stake in food distributor Sysco Corporation (SYY), and is engaged in discussions with the company including board representation for Trian. Sysco rose 7.4% to $41.38 after the disclosure of the Trian stake... General Electric (GE) announced an agreement to sell GE Capital Bank's U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (GS). Under this agreement approximately $16B of deposits will be transferred to GS Bank. Additionally, Reuters reported that General Electric was expected to win EU antitrust approval for its proposed EUR12.4B acquisition of Alstom's (ALSMY) power unit, according to two people familiar with the matter. GE rose 1.1% to $26.08 on the day. MAJOR MOVERS: Among the notable gainers following their earnings reports were department store retailers Nordstrom (JWN) and J.C. Penney (JCP), which gained 4.3% and 5.6%, respectively. Also higher was WuXi PharmaTech (WX), up 6.15%, which reported earnings and entered into an agreement to be acquired by a management buyout group for around $3.3B. Among the noteworthy losers was El Pollo Loco (LOCO), which dropped 20.7% after its Q2 revenue fell short of analysts' estimates. Also lower were shares of King Digital (KING), which declined nearly 20.7% after reporting quarterly earnings and forecasting gross bookings for the third quarter $460M-$485M, citing "recent trends." INDEXES: The Dow rose 69.15, or 0.4%, to 17,477.40, the Nasdaq gained 14.68, or 0.29%, to 5,048.23, and the S&P 500 advanced 8.15, or 0.39%, to 2,091.54.
16:00 EDTJCPOptions Update; August 14, 2015
iPath S&P 500 VIX Short-Term Futures down 4c to 16 Option volume leaders: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT RAD CSCO JCP AMZN SUNE
12:37 EDTJCPOn The Fly: Top stock stories at midday
Stocks began the session with modest losses, despite a stabilization in the Chinese yuan overnight. Relatively in line data on producer prices and industrial production did not hurt the situation, but there was also the lack of a catalyst. As a result, the market has drifted throughout the morning session moving up as much as 0.4% before paring its gains. The market is now struggling to hold onto its meager gains. ECONOMIC EVENTS: In the U.S., both industrial production and PPI beat estimates, with industrial production increasing 0.6% and PPI increasing 0.2%. Consumer sentiment for August fell to 92.9 in the preliminary report from the University of Michigan survey, after slipping to 93.1 in July from 96.1 in June. Meanwhile, Euro-area GDP rose 0.3% last quarter. Germany's economy grew 0.4%, Italy's 0.2%, while France stagnated. The Baker Hughes North American rig count report is out at 1 p.m. ET. COMPANY NEWS: General Electric (GE) announced an agreement to sell GE Capital Bank's U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (GS). Under this agreement approximately $16B of deposits will be transferred to GS Bank. Separately, Goldman Sachs is selling its Colombia coal mining division to privately held Murray Energy. General Motors (GM) is boosting production of its larger SUVs and trucks, according to Reuters. The automaker could make as many as 60,000 additional vehicles for the 2016 model year to capitalize on rising demand. Meanwhile, GM is recalling 73,424 small cars because improper wiring could prevent the roof-mounted driver's side air bag from deploying after a crash, the Associated Press reported. SunTrust analyst Robert Peck said he believes Twitter (TWTR) could announce a permanent CEO as early as next week. Peck continues to think Twitter is likely to unveil a "Triumvirate of leadership" with Jack Dorsey as CEO, Adam Bain as COO and Evan Williams with more board influence, possibly Chairman. Tesla's (TSLA) secondary offering of 2.7 million common shares was priced at $242 each, according to an SEC filing. That represents an increase from the 2.1 million shares Tesla had previously announced for the offering. MAJOR MOVERS: Among the notable gainers following their earnings reports were department store retailers Nordstrom (JWN) and J.C. Penney (JCP), which gained 5.35% and 5.95%, respectively. Also higher was WuXi PharmaTech (WX), up 5.45%, which reported earnings and entered into an agreement to be acquired by a management buyout group for around $3.3B. Cyberark Software (CYBR) also gained 1.8% after being upgraded to Outperform from Market Perform at Wells Fargo. Among the noteworthy losers was El Pollo Loco (LOCO), which dropped 18% after its Q2 revenue fell short of analysts' estimates. Also lower were shares of King Digital (KING), which declined nearly 12% after reporting quarterly earnings and forecasting gross bookings for the third quarter $460M-$485M, citing "recent trends." The company said fourth quarter gross bookings would be "fairly consistent sequentially." JPMorgan downgraded King Digital this morning to Neutral from Overweight citing an elevated risk profile following the results. INDEXES: Near midday, the Dow was up 42.43, or 0.24%, to 17,450.68, the Nasdaq was fractionally lower by 2.96, or 0.06%, to 5,030.59, and the S&P 500 was up 3.46, or 0.17%, to 2,086.89.
11:08 EDTJCPNordstrom, J.C. Penney shares rise after better-than-expected Q2 earnings
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10:24 EDTJCPOptions with decreasing implied volatility
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09:37 EDTJCPActive equity options trading on open
Active equity options trading on open: AAPL TWTR FB NFLX TSLA QIHU JCP BABA BP
09:26 EDTJCPJ.C. Penney sees Q3 SSS up sequentially from Q2
Says Men's, Home, Sephora and Fine Jewelry were the company's top performing divisions in Q2. Says Sephora saw a double digit increase in SSS in Q2. Says all regions experienced sales growth vs. last year. Says sales growth through jcp.com accelerated sequentially from Q1. Says will pilot buy online, pick up in store same day in several markets later this year, sees company-wide rollout in early 2016. Sees "significant" increase in number of new Sephora stores in 2016. Sees Q3 SSS up sequentially from Q2. Comments made on the Q2 earnings conference call.
09:08 EDTJCPOn The Fly: Pre-market Movers
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09:00 EDTJCPJ.C. Penney says 'needs work on the science of retail'
Says priorities include increasing private brand, increasing e-commerce, increasing revenue per customer. Says company "needs work on the science of retail." Says private brand margins "slightly above" national. Says expects to see benefits of omnichannel strategy in 2H.
08:46 EDTJCPJ.C. Penney sees 2H free cash flow positive
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08:45 EDTJCPJ.C. Penney says 'pleased' with 'strong' start to Q3
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08:42 EDTJCPJ.C. Penney sees improvement in 2H SSS results vs. 1H
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08:13 EDTJCPJ.C. Penney 'confident' in ability to achieve long-term financial targets
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08:12 EDTJCPJ.C. Penney sees FY15 free cash flow breakeven
Sees FY gross margin up 100-150bps. Sees FY15 interest expense approx. $415M, CapEx $250M-$300M.
07:52 EDTJCPJ.C. Penney backs FY15 SSS view of up 4%-5%
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07:49 EDTJCPJ.C. Penney reports Q2 EPS (45c), consensus (48c)
Reports Q2 revenue $2.88B, consensus $2.86B. Reports Q2 SSS up 4.1%.
05:58 EDTJCPStocks with implied volatility above IV index mean; JCP HPQ
Stocks with implied volatility above IV index mean; J.C. Penney (JCP) 68, Hewlett-Packard (HPQ) 38 according to iVolatility.
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