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Stock Market & Financial Investment News

News Breaks
November 30, 2012
12:31 EDTZNGA, S, NTLS, FIVE, CBK, RGC, FIZZ, ENZN, TLAB, WFM, YUM, FB, VRSNOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as negotiations in Washington to avert automatic spending cuts and tax hikes by the end of the year continue to dominate the headlines and move the market. With President Obama speaking at an event at midday and House Speaker Boehner scheduling a press conference for this afternoon, the volatility that has dominated recent days is likely to continue... ECONOMIC EVENTS: In the U.S., consumer spending fell 0.2% in October, versus expectations for a flat reading. Incomes were unchanged last month, versus expectations of a 0.2% gain. The Chicago PMI reading for November came in at 50.4, about in-line with forecasts for a 50.5 reading and indicating expansion after being below 50 last month. In Europe, the annual rate of consumer price growth in the shared currency nations fell to 2.2% in November from 2.5% in October, while unemployment in the euro zone rose to 11.7% from 11.6% in September. Also, German lawmakers approved the new aid deal struck for Greece. In Asia, Japanese industrial production unexpectedly rose 1.8% while unemployment came in as expected at 4.2%... COMPANY NEWS: Facebook (FB) and Zynga (ZNGA) disclosed that they have changed the terms of their partnership, meaning Facebook will now be able to develop its own games and Zynga won't have to use Facebook ad units or payments on its outside sites. Zynga shares fell 8% after the changes were publicized... Yum! Brands (YUM) provided guidance, including a softer outlook on China, and was downgraded by at least three firms. Shares fell over 9% following the announcement and the corresponding analyst notes... Several more companies announced special one-time dividends, including Whole Foods (WFM), Tellabs (TLAB), Enzon Pharmaceuticals (ENZN), National Beverage (FIZZ) and Regal Entertainment (RGC)... MAJOR MOVERS: Among the notable gainers were Christoper & Banks (CBK), up 23%, and Five Below (FIVE), up 15% following their quarterly reports. Among the noteworthy losers was NTELOS (NTLS), which fell 22% after FBR predicted its deal with Sprint (S) will not be renewed. Also lower were shares of VeriSign (VRSN), down 13% after it announced a revised .com agreement that limits its ability to increase prices... INDICES: Near noon, the Dow was down 13.60, or 0.10%, to 13,008.22; the Nasdaq was down 6.88, or 0.23%, to 3,005.15; and the S&P 500 was down 2.06, or 0.15%, to 1,413.89.
News For ZNGA;FB;YUM;WFM;TLAB;ENZN;FIZZ;RGC;CBK;FIVE;NTLS;S;VRSN From The Last 14 Days
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October 7, 2014
16:31 EDTYUMYum! Brands reports Q3 China SSS down 14%
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16:24 EDTYUMYum! Brands down 1% following Q3 results
16:23 EDTYUMYum! Brands expects to develop at least 700 new restaurants in China this year
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16:22 EDTYUMYum! Brands lowers FY14 EPS growth ex-items to 6%-10%
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16:19 EDTYUMYum! Brands provides China update
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16:15 EDTYUMYum! Brands reports Q3 EPS ex-items 87c, consensus 89c
Reports Q3 revenue $3.35B, consensus $3.48B. Worldwide system sales grew 1%. Worldwide restaurant margin decreased 2.7 percentage points to 14.9%, and worldwide operating profit decreased 12%.
15:16 EDTYUMNotable companies reporting after market close
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14:27 EDTYUMYum! Brands October weekly 70 straddle priced for 4.6% move into Q3
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13:48 EDTFBFacebook to release anonymous chat application, NY Times reports
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13:33 EDTFBGoogle executive says Google+ here to stay, Re/code reports
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13:03 EDTYUMYum! Brands technical notes ahead of results
The shares have markedly under-performed in the prior three months, trading down over 14%. A great deal of the share price loss came at the front of the interval during the tainted-meat scandal in China. After the initial drop, shares have been basing in a range of $70 at the low and $73 at the high. The base at $70 may be particularly important. If the news is worse than already low expectations, that support at the $70 area could be lost. Next support below would be at $68.20 and then at $66.16. An extreme price reaction could see the 52-week low at $64.08 tested as well or perhaps broken. Equally, an upside surprise could see the top of the range tested at $73. Given low expectations, a bit of stronger news could push the stock through that resistance level. Next upside would be at $73.84, $75.44, and then at $76.33 on an increasing band of positive surprises.
12:09 EDTCBKOn The Fly: Midday Wrap
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11:34 EDTCBKChristopher & Banks plummets after cutting Q3 revenue outlook
Shares of specialty women's apparel retailer Christopher & Banks (CBK) are sinking after the company lowered its third quarter revenue outlook. WHAT'S NEW: This morning, Christopher & Banks lowered its Q3 revenue outlook to $114M-$118M from its previous guidance of $122M-$124, trailing the consensus of $123.98M. The company also cut the top end of its Q3 margin forecast, lowering its margin growth outlook to 75-100 basis points from its prior view of 75-125 bps. SG&A dollars for the quarter are expected to be approximately $33.5M-$34M, below its prior guidance of $34M-$34.5M. Christopher & Banks expects its inventory at the end of the quarter will remain higher than the comparable prior year period on a dollar per square foot basis, but at a level lower than at the end of Q2, due to planned higher levels of core inventory. WHAT'S NOTABLE: The company believes sales have been negatively impacted by continued softness in mall traffic and lower than expected sales from its September fashion show. The company noted that the demand for fashion merchandise exceeded planned inventory levels, due to late receipts associated with the West Coast port disruptions. President and Chief Executive Officer LuAnn Via said in a statement, "We believe that the continued softness in traffic trends, coupled with the difficult overall retail environment, have adversely affected our sales as compared to our initial expectations for the quarter." She said the firm assumes promotional activity will continue to be aggressive and that the current environment will continue to be challenging, creating continued pressure on sales and margins. PRICE ACTION: In late morning trading, Christopher & Banks fell $2.69, or about 30%, to $6.40 on nearly four times its average daily trading volume. Despite today's pull-back, the shares have only lost approximately 2% over the past 12 months. OTHERS TO WATCH: Other specialty women's retailers include Chico's FAS (CHS), down 1.28%, Ann Inc. (ANN), down 2.1%, and L Brands (LB), down 1.13%.
09:14 EDTCBKOn The Fly: Pre-market Movers
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08:08 EDTCBKChristopher & Banks says Q3 sales negatively impacted by mall traffic softness
In regards to its Q3 outlook, the company believes sales have been negatively impacted by continued softness in mall traffic and lower than expected sales from its September fashion show, as the demand for fashion merchandise exceeded planned inventory levels, as well as due to late receipts associated with the West Coast port disruptions.
08:06 EDTCBKChristopher & Banks lowers Q3 revenue view to $114M- $118M
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08:05 EDTCBKChristopher & Banks lowers Q3 revenue view to $114M- $118M
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07:59 EDTWFMWhole Foods prices 13%-30% higher than peers, says Jefferies
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06:43 EDTFBGM using Facebook, calls to reach out and get recalled cars fixed, AP reports
General Motors (GM) is using Facebook (FB) messages and phone calls to reach out to vehicle owners who have yet to bring in their cars the company has recalled, reports the Associated Press. CEO Mary Barra has also sent a personal letter urging people to get the switches replaced. Reference Link
05:52 EDTSStocks with implied volatility movement; S HIMX
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