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Stock Market & Financial Investment News

News Breaks
March 10, 2013
18:39 EDTWMT, NKE, COH, GPS, YUMChina's economic data show weakest beginning since 2009, Bloomberg says
China’s industrial output had the slowest start to a year since 2009 and lending and retail sales growth slowed, says Bloomberg. Reference Link
News For YUM;COH;WMT;GPS;NKE From The Last 14 Days
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August 30, 2015
12:42 EDTCOHAmerican Airlines, others look like underappreciated bargains, Barron's says
Shares of American Airlines (AAL), Coach (COH), PACCAR (PCAR), and CA Technologies (CA) not only look cheap but pay dividends, thereby rewarding patient investors willing to wait for rebounds, Barron's contends in a feature article. All four firms are generating "healthy" return on capital, suggesting operations are stronger than traders believe, Barron's argues. Reference Link
August 27, 2015
18:16 EDTYUMLabor Relations Board revises joint employer policy
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07:20 EDTNKENike continuing to 'dominate' back to school, says Stifel
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06:23 EDTWMTWal-Mart extends holiday layaway program two weeks, Reuters reports
Wal-Mart (WMT) plans to boost its holiday layaway program by two weeks ahead of an expected year-end demand for Star Wars toys, a Disney (DIS) property, Reuters reports. The retailer will jumpstart the program on August 28, two weeks earlier than last year, the report says, citing comments from Anne Marie Kehoe, VP of toys at Wal-Mart. Reference Link
August 26, 2015
20:03 EDTGPSGap to stop on-call shifts by late September
In a company blog post published Wednesday, Gap announced a commitment to eliminate the use of on-call shifts across the organization. The work began earlier in the summer, said the company, and all five brands have aligned on a complete phase-out of this practice by the end of September. Additionally, each of Gap's brands has committed to improving scheduling policies to provide store employees with at least 10-14 days notice. The majority of brands will be rolling out these new policies in September, and all Gap brands are committed to phasing in advanced schedules by early 2016. Reference Link
14:52 EDTWMTWal-Mart phasing out sales of modern sport rifles, Washington Post says
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10:00 EDTNKEOn The Fly: Analyst Upgrade Summary
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07:45 EDTNKENike upgraded to Positive at Susquehanna
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06:40 EDTNKENike upgraded to Positive from Neutral at Susquehanna
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August 24, 2015
09:45 EDTNKEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
06:20 EDTNKENike upgraded to Outperform from Market Perform at Telsey Advisory
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August 21, 2015
16:34 EDTWMTMarket enters correction territory in worst week in four years
For the week, stocks plummeted amid concerns about a slowing Chinese economy and declining oil prices. MACRO NEWS: Monday, the Empire State manufacturing index crashed to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009... Meanwhile, the NAHB homebuilder sentiment index rose to 61 in August from 60 in June, matching consensus estimates... Tuesday, July housing starts edged up 0.2% to 1.206M, beating consensus estimates for 1.180M in the best reading since October 2007. Building permits, however, fell 16.3% to 1.119M against expectations for 1.230M, while single family starts rose 12.8% and multifamily numbers fell 17.0%... Wednesday, the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%... Meanwhile, FOMC minutes showed no definitive indication of a September rate hike... Thursday, initial jobless claims rose to 277,000 from a revised 273,000, bringing the 4-week moving average to 271,500... The Philadelphia Fed index rose 2.6 points to 8.3 in August, beating expectations for a 7.5 reading... Friday, the PMI Manufacturing Index Flash for August came in at a level of 52.9, below the prior level of 53.8 and the consensus level of 54.2. COMPANY NEWS: Monday, Liberty Interactive (QVCA) announced an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B. The acquisition will be attributed to Liberty's QVC tracking stock, though the companies specified that QVC and zulily will operate as separate brands... Amazon (AMZN) founder and CEO Jeff Bezos downplayed a recent New York Times critique of the company's workplace practices, telling employees in an email that "the article doesn't describe the Amazon I know or the caring Amazonians I work with every day..." Tuesday, Wal-Mart (WMT) cut its full year earnings outlook, with company executives on a subsequent conference call expressing confidence in China but noting that Brazil and U.K. remain challenging markets for the company... Wednesday, Seagate Technology (STX) agreed to acquire Dot Hill Systems (HILL) for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016... Thursday, Valeant (VRX) agreed to acquire Sprout Pharmaceuticals for roughly $1B in cash plus a profit-sharing agreement, adding that it expects to bring the company's recently-approved female sexual dysfunction drug Addyi to the U.S. by Q4... Friday, Steiner Leisure (STNR) entered into a definitive merger agreement where an affiliate of Catterton will acquire all of the outstanding shares of Steiner for $65 per share in cash. INDEXES: For the week, the Dow lost about 5.79% to close at 16,459.75, the Nasdaq declined about 6.71% to close at 4,706.04, and the S&P 500 fell about 5.73% to close at 1,970.89.
August 20, 2015
18:13 EDTGPSGap says FY16 currency headwinds may be the same as FY15
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17:03 EDTGPSGap sees Q3-end inventory dollars per store down slightly year-over-year
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17:02 EDTGPSGap sees FY15 net new company-operated stores about flat
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16:05 EDTGPSGap backs FY15 EPS view of $2.75-$2.80, consensus $2.73
Gap reaffirmed its full-year EPS guidance to be in the range of $2.75-$2.80 for FY15, excluding the negative impact associated with the strategic actions. The company updated its estimate of the charges associated with the strategic actions to approximately $130M-$140M, from the previously announced range of $140M-$160M. This guidance is provided to enhance visibility into the company's expectations regarding its ongoing business, excluding the strategic actions. Gap continues to expect operating margin, excluding the impact associated with the strategic actions, to be down about 1 percentage point in FY15 compared with FY14.
16:03 EDTGPSGap reports Q2 SSS down 2%
Comparable sales by global brand for Q2 were as follows: Gap Global: negative 6% versus negative 5% last year; Banana Republic Global: negative 4% versus flat last year; Old Navy Global: positive 3% versus positive 4% last year.
16:01 EDTGPSGap reports Q2 EPS ex-items 64c, consensus 64c
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14:42 EDTGPSNotable companies reporting after market close
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14:37 EDTGPSGap technical comments ahead of earnings
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