Posts for Ticker ‘DDS’

52-Week High Club (DDS, DBRN, SJM, MRK)

Dillard’s Inc. (NYSE: DDS) rose as high as over 10% to a yearly high of $15.79 after the department-store chain was upgraded by Deutsche Bank AG.  

Dress Barn Inc. (NASDAQ: DBRN) rose as high as 9.2% to a yearly his of $22.42 after the women’s clothing retailer announced earnings of $0.37, beating analysts estimates.

The J.M. Smucker Company (NYSE: SJM) rose as high as 6.3% to a yearly high of $56.86  after the jam and peanut butter maker reported earnings of $1.222 per share, beating analyst estimates.  

Merck & Co. (NYSE: MRK) rose nearly 4% to a yearly high of $36.67 after the pharmaceutical company announced that drug Elonva was recommended for treatment of the ovaries in the European Union.

Garrett W. McIntyre

Posted on: November 20, 2009 – 4:11 pm in Earnings, Food, Pharmaceuticals, Retail, , , ,

Top 10 Analyst Upgrades, Downgrades, Initiations (AFL, BRCM, DDS, D, INTC, MRVL, BTU, RTP, STP, TXN)

These are Friday morning’s top 10 analyst upgrades, downgrades, and initiations we have seen early this morning in Wall Street research calls:

AFLAC (NYSE: AFL) Raised to Overweight at Morgan Stanley.
Broadcom Corp. (NASDAQ: BRCM) Started as Outperform at BMO Capital Markets.
Dillard’s (NYSE: DDS) Raised to Buy at Deutsche Bank.
Dominion (NYSE: D) Cut to Sell at Citigroup.
Intel Corp. (NASDAQ: INTC) Started as Outperform at BMO Capital Markets.
Marvell Technology (NASDAQ: MRVL) Started as Outperform at BMO Capital Markets.
Peabody Energy (NYSE: BTU) Removed from Conviction Buy List (still Buy rated) at Goldman Sachs.
RioTinto (NYSE: RTP) Cut to Underperform at Credit Suisse.
Suntech Power (NYSE: STP) Raised to Hold at Soleil.
Texas Instruments (NYSE: TXN) Started as Outperform at BMO Capital Markets.

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JON C. OGG
NOVEMBER 20, 2009

Posted on: November 20, 2009 – 8:05 am in Analyst Calls, Technology Companies, , , , , , , , , ,

Media Digest (10/20/2009) Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   Apple (NASDAQ:AAPL) beat earnings forecasts.

Reuters:   The IRS is probing some homebuyers’ tax credit gains.

Reuters:   The US is ready to bring more insider trading cases.

Reuters:   More US companies are cutting bonuses. Read More »

Posted on: October 20, 2009 – 4:02 am in Press Digest, , , , , , , , , , , , , , , , , , , , , , , ,

S&P Downgrades Credit Ratings on DDS, JCP, M, Neiman Marcus, JWN

Standard & Poor’s downgraded the ratings on Dillard’s (NYSE: DDS), J.C. Penney (NYSE: JCP), Macy’s (NYSE: M), Neiman Marcus (private) and Nordstrom (NYSE: JWN).

Standard & Poor’s credit analyst Diane Shand said, “The rating actions reflect Standard & Poor’s deepening concern about the impact of the U.S. recession on the increasingly troubled department store sector which felt the full brunt of the declining U.S. economy and weakening consumer confidence in 2008…”

Read more…

Posted on: April 17, 2009 – 8:34 am in Uncategorized, , , ,

Tax Refunds Help Send False Recovery Signal

bear18A taxpayer gets a refund check under the new stimulus program and then spends most of the money. That trend may help retail sales for the current quarter, but it will not help companies like Gap (GPS) and Dillard’s (DDS) over the longer term.

The bump-up in retail sales may also mislead investors into thinking that it is safe to wade back into retail shares which have been depressed since the last holiday season. Read More »

Posted on: April 14, 2009 – 4:47 am in Economy, Retail, ,

Fixing GM (GM) May Just Be Practice For The Government’s Next Bailout

bear17GM’s (GM) stock trades at $1.71, which is not even its 52-week low. Several news outlets have reported that the Treasury has asked the No.1 US car company to prepare for Chapter 11. The government will probably try to have GM broken into two pieces. In that case, most of the creditors may be stuck holding paper in the weaker of the operations which will be made of brands like Saturn and Hummer which have no economic value at all. If that tactic works, the money that GM owes to financial firms could end up being next to nothing. Read More »

Posted on: April 14, 2009 – 4:02 am in Autos, Banking, Economy, Retail, , , , ,

S&P Pans Retailer Ratings (DDS, M, JWN, JCP, SHLD, BONT, KSS, SKS)

Standard & Poor’s Ratings Services has put six department store companies on CreditWatch with negative implications and has changed the outlook on three department store companies to negative from stable.  Moody’s & Fitch either downgraded or warned of possible downgrades.  Dillard’s Inc. (NYSE: DDS), Macy’s Inc. (NYSE: M), Nordstrom Inc. (NYSE: JWN), J.C. Penney Co. Inc. (NYSE: JCP), Sears Holdings Corp. (NASDAQ: SHLD), Bon-Ton Stores Inc. (NASDAQ: BONT), Kohl’s Corp. (NYSE: KSS), and Saks Inc. (NYSE: SKS) were all part of the S&P call late today.

Read More »

Posted on: February 5, 2009 – 5:04 pm in Analyst Calls, Retail, , , , , , , ,

The Problem Of “Burn Rate” Hits Mainstream Companies (GM)(PIR)(DS)(SIRI)(CHTR)(MNI)(NYT)`

EmpireAt the beginning of the decade a number of internet and next-generation technology companies raised money through venture capitalists and IPOs. Many of these companies had little, if any, revenue. Most had relatively high expense structures.

As these firms quickly ate through the cash on their balance sheets and continued to have poor sales prospects, the term "burn rate" was coined. If was defined as the amount of cash a company had on its balance sheet divided by the firm’s monthly expenses less any revenue. An operation with $12 million in cash less short-term debt and a $1 million a month "burn rate" was expected to be out of business in a year.

At this point, GM (GM) and Chrysler would make any burn rate risk lists as would a number of retailers who had awful holiday seasons and are facing repayment of debt or revolving credit facilities. That is why Pier 1 (PIR) is trading at $.40 and shares of Dillard’s (DDS) are off 80% over the last year.

Read More »

Posted on: January 5, 2009 – 1:20 pm in Earnings Warning, , , , , , ,

10 CEOs To Go In 2009 (BSX, C, DDS, EK, GM, NT, RAD, SNDK, SIRI, JAVA)

It is that time of year where companies should have been evaluating their plans for the year ahead.  Each year we come out with a list of companies who should get rid of their CEOs or which should make some strategic changes inside the company that revolve around the CEO and management.  Boston Scientific Corp. (NYSE: BSX), Citigroup, Inc. (NYSE: C), Dillard’s Inc. (NYSE: DDS), Eastman Kodak Co. (NYSE: EK), General Motors Corporation (NYSE: GM), Nortel Networks Corp. (NYSE: NT), Rite Aid Corporation (NYSE: RAD), SanDisk Corp. (NASDAQ: SNDK), SIRIUS XM Radio Inc. (NASDAQ: SIRI), and Sun Microsystems Inc. (NASDAQ: JAVA) are all on this year’s list. 

With so many stocks down 50% and more, we want to stress that the list could have had hundreds of management teams on the list if stock prices were the sole criteria.  Our criteria for change is far more than just poor stock performance.  The list is broken down individually below and summarized with links to the full story on each individual.

Read More »

Posted on: December 7, 2008 – 5:26 pm in Management Change, , , , , , , , , ,

10 CEOs To Go In 2009: William Dillard II of Dillard’s (DDS)

Dillards_logoDillard’s Inc. (NYSE: DDS) could use new blood, literally.  The company is run by William Dillard II as CEO (founder’s son) and as Chairman, and its President is Alex Dillard.  There are enough Dillard family members running the company that it looks like a family business rather than a public company, and the dual class of stock gives the family control.  This company is still running too aggressively, is paying out too much, and has major room for improvements.  Shareholders have already spoken out, but you can expect much louder cries in 2009.

Read More »

Posted on: December 3, 2008 – 10:12 am in Management Change, Retail, ,

The Black Friday Ten: Retailers Who May Not See 2009 (BONT)(DDS)(TLB)(PIR)(CPWM)(WSM)(CHS)(SKS)(EBHI)(RAD)

Angrybear_3A year ago, not many people would have thought Circuit City would be in bankruptcy now. Linens ‘n Things, Mervyn’s, Whitehall Jewelers and Steve & Barry’s have either shut down or are closing huge numbers of locations since they moved into Chapter 11.

The most astonishing fact about the retail industry now is that the environment has gotten much worse than it was when each of these businesses began to fail. Sales at stores across the country will be down this holiday season. Some analysts believe that the numbers will be as bad as for any fourth quarter in thirty-five years.

Adding to the problem of slow consumer spending brought on by the recession is an unprecedented liquidity crisis. Retailers who need access to capital for inventory, rent, and personnel costs are finding that it is nearly impossible to get access to funds without a pristine balance sheet and a history of substantial positive cash flow.

These troubles point to a number of other retail chains going out of business between now and early next year. Sales on Black Friday, the day after Thanksgiving, which is considered the bellwether of holiday sales, will determine the fate of several companies which are now viewed as the weakest operators in the industry.

Read More »

Posted on: November 26, 2008 – 5:57 pm in Retail, , , , , , , , , ,

Consumers Not Even Window Shopping (WMT, COST, TGT, SKS, JWN, JCP, KSS, DDS, M)

BurningmoneyThe retail sales numbers on Main Street are truly going to hell in a hand basket.  The only bright spot is Wal-Mart Stores (NYSE: WMT), and that is just indicative of a tapped out consumer that is heading over to the trade-down shop for all their needs.  Think of it as the new general store.  Target (NYSE: TGT) and Costco (NASDAQ: COST) posted worse-than-expected sales.    If you were looking for good news out of the department stores, let’s just say that you can find great news if you pretend that those minus signs in front of each number are not really there.

Read More »

Posted on: November 6, 2008 – 9:16 am in Apparel, Economy, Retail, , , , , , , , ,

Dillard’s Under Activist Fire As Management Buys Shares (DDS)

Anyone who bought Dillard’s Inc. (NYSE: DDS) shares late Friday looking for a bounce caught a break.  The stock is rallying sharply after management bought shares of stock in the open market and two hedge funds said they are going after management as activists.

Read More »

Posted on: October 27, 2008 – 11:56 am in Activist Investor, Insider Activity, Retail,

Goldman Sachs Cans Department Stores (M, KSS, DDS)

Goldman_sachs_logoGoldman Sachs is out with a negative call this morning that is a downgrade in the department stores section of the retail sector.  The firm believes that gains of some 30% while companies are still warning ahead or are still very cautious has been too much of a share run-up.  The drop in oil prices may also not be sustainable as Goldman Sachs reiterated its oil target of $149 per barrel.  It also blames a lack of sales being the big issue.  Macy’s (NYSE: M) and Kohl’s (NYSE: KSS) were both downgraded to Neutral from Buy.  Macy’s shares are down about 2.3% at $19.85 and Kohl’s is down about 1.8% at $47.95 in pre-market trading.  We have seen no indications nor any trades in Dillard’s (NYSE: DDS).

JON C. OGG
August 20, 2008

Posted on: August 20, 2008 – 8:07 am in Analyst Calls, Retail, , ,

52-Week Low Club (WTR, BMY, CELL, DDS, EK, EXPE, GCI, GE, HST, NOK, PFE, Q, VLO, WY, WGO)

If you thought this was a bad day for the market with the DJIA trading well under that 12,000 psychological level, there were some 400 stocks that hit 52-week lows today when you include the closed end funds, preferred stocks, and ETF’s.  Today was ugly enough that we won’t even add our little personal prodding on these.  Here is just a partial list of fifteen active stocks on this list today that aren’t airlines, autos, or financials:

  • AQUA AMERICA INC (NYSE: WTR)
  • BRISTOL MYERS SQUIBB (NYSE: BMY)
  • BRIGHTPOINT INC (NASDAQ: CELL)
  • DILLARD’S INC (NYSE: DDS)
  • EASTMAN KODAK CO (NYSE: EK)
  • EXPEDIA INC. (NASDAQ: EXPE)
  • GANNETT CO INC (NYSE: GCI)
  • GENERAL ELECTRIC CO (NYSE: GE)
  • HOST HOTELS & RESORT (NYSE: HST)
  • NOKIA (NYSE: NOK)
  • PFIZER INC. (NYSE: PFE)
  • QWEST COMMUNICATIONS (NYSE: Q)
  • VALERO ENERGY (NYSE: VLO)
  • WEYERHAEUSER CO (NYSE: WY)
  • WINNEBAGO IND INC (NYSE: WGO)

Jon C. Ogg
June 21, 2008

Posted on: June 20, 2008 – 2:21 pm in HI/LOW, , , , , , , , , , , , , , ,

J C Penney Slashes Guidance (JCP, DDS, M)

J. C. Penney Company, Inc. (NYSE:JCP) has just revised its sales and earnings guidance for the first quarter.  Of course it is to the downside.  The guidance reflects incremental weakness in the consumer spending environment and sales through Easter have run well below expectations.

JCPenney now sees a low-double digit comparable store sales decline for March and sees a high-single digit decline for the first quarter.   It now sees earnings at approximately $0.50 per share.  This is well below its prior guidance for both March and first quarter sales to decline low-single digits and first quarter earnings to be in the range of $0.75 to $0.80 per share.

Shares closed at $40.52 yesterday, and they are now indicating down slightly under $36.00 in reaction.  The 52-week trading range is $33.27 to $84.70.

This news is also taking down stock indications on competitors as Dillards’ Inc. (NYSE: DDS) is seeing shares indicated down 2% to 3% and Macy’s Inc. (NYSE: M) shares are indicated down about 5% in pre-market hours this Friday.  Mid-level retail spending doesn’t look like it is coming out of the dark yet.

Jon C. Ogg
March 28, 2008

Posted on: March 28, 2008 – 7:39 am in Earnings Warning, Retail, , ,

Top 10 Pre-Market Analyst Calls (BKS, BBY, CMO, COP, DBD, DDS, LLNW, NOVL, SFLY, VG)

Below are the top analyst calls that 247WallSt.com is looking at this morning in early trading:

  • Barnes & Noble (NYSE: BKS) downgraded to Underweight at JP Morgan.
  • Best Buy (NYSE: BBY) downgraded to Neutral at Banc of America.
  • Capstead Mortgage (NYSE: CMO) started as Outperform at Bear Stearns; started as Outperform at RBC Capital.
  • ConocoPhillips (NYSE: COP) downgraded to Equal-weight at Lehman Brothers.
  • Diebold (NYSE: DBD) raised to Outperform at Robert W. Baird; downgraded to Hold at Jefferies.
  • Dillards (NYSE: DDS) raised to Neutral at Credit Suisse.
  • Limelight Networks (NASDAQ: LLNW) raised to Hold at Jefferies.
  • Novell (NASDAQ: NOVL) downgraded to Hold at Jefferies.
  • Shutterfly (NASDAQ: SFLY) started as Outperform at William Blair.
  • Vonage (NYSE: VG) raised to Peer Perform at Bear Stearns.

Jon C. Ogg
March 4, 2008

Posted on: March 4, 2008 – 7:32 am in Analyst Calls, , , , , , , , , ,

Largest Van der Moolen Specialist Stocks (VDM, ANF, APA, CAG, DDS, DIS, HOG, HTZ, HPQ)

We have already noted the Van der Moolen (NYSE:VDM) exit of all NYSE Specialist activities.  What we wanted to look at is the underling stocks companies where Van der Moolen acts as a specialist to the companies.  The huge list can be found at http://www.vdm-usa.com/clients/alpha.asp

Please be advised that these may have changed because we’ve already seen two merger stocks on the full list that are no longer traded.  This was taken from Van der Moolen’s site, so any errors there probably means they already laid off the I.T. editor for its web site.

Here are some of the names: Abercrombie & Fitch Co. (ANF), Apache Corp. (APA), Coach Inc. (COH), Conagra Foods Inc. (CAG), Dillard’s Inc. (DDS), Disney (DIS), Harley-Davidson Inc. (HOG), Hertz Global Holdings, Inc. (HTZ), Hewlett-Packard Co. (HPQ)…. more to come in a part II story.

Jon C. Ogg
November 15, 2007

Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: November 15, 2007 – 9:35 am in Brokerage Firms, , , , , , , , ,

The 52-Week Low Club

The Ryland Group (RYL) In home building and mortgage businesses. Enough said. Down to $26.61 from 52-week high of $60.13.

Dillard Department Stores (DDS) Same store sales down last month. Drops to $21.06 from 52-week high of $40.56.

Nortel Networks (NT) Enterprise network supply business does not seem very good. Ask Alcatel-Lucent (ALU). NT down to $17.02 from 52-week high of $31.79.

Sourceforge (LNUX) Still falling after bad financials. Down to $2.28 from 52-week high of $5.55.

Finisar (FNSR) Poor quarterly numbers kill em. Drops to $2.81 from 52-week high of $4.25.

Douglas A. McIntyre

Posted on: September 6, 2007 – 3:08 pm in HI/LOW, , , , ,

Retail Sales In August Not On Life Support

Just yesterday and the day before, the tone was looking to be that sub-prime fallout and the recent tightening on credit was helping to squash Joe Q. Consumer in the U.S.  Yesterday, CostCo (COST) shares were hit hard on a big miss in same store sales gains.  J.C.Penney (JCP) just yesterday also gave -4% s-s-s, although that was a tad better than the -5% estimate.

But this morning both Wal-Mart (WMT) and Target (TGT) beat sales same store sales expectations with +3.1% and +6.1% respectively.  Take a look at these other same store sales (s-s-s) numbers from some of the larger chain retailers:

Saks (SKS) s-s-s +18.2% vs. +9.2% estimates.  This is the s-s-s winner, by far.  Shares are up over 4% pre-market and still only about 10% above 52-week stock lows.  At $16.00 pre-market, this is well under the $23.25 yearly high.

Nordstrom (JWN) +6.6% s-s-s vs. +6.3% estimates.

TJX (TJX), the owner of discounter TJMAXX and Marshall’s, posted +4% s-s-s vs. 3.8% estimates.

NEGATIVES:

Kohl’s (KSS) s-s-s -0.6% compared to +2.7% estimates.

Dillard’s (DDS) s-s-s were -5%, compared to -2.9% estimates.

Gap Inc. (GPS) s-s-s were -1%, although analysts were looking for -2%.

These are just a snapshot, but regardless of the overall estimates it does not appear that Joe Q. Consumer is dead.  It seems every time that the consumer is ruled dead on arrival that he or she pops up again.  This doesn’t even look like zombie mode either.

The biggest example of the sector winning today is the key ETF used to measure the group with the ML RETAIL HOLDRs (RTH), with shares up over 1% pre-market.

Jon Ogg can be reached at jonogg@247wallst.com; he produces the 24/7 Wall St. SPECIAL SITUATION INVESTING NEWSLETTER and he does not own securities in the companies he covers.

Posted on: September 6, 2007 – 8:12 am in Retail, , , , , , , , , ,