Posts for Ticker ‘M’

Black Friday Gimmicks & Desperation, A Win For Consumers (WMT, BBY, COST, TGT, KSS, GPS, M, JWN, MA, AMZN)

We are right at a week away from the highly awaited Black Friday for 2009’s holiday and Christmas season.  As you likely know, this is THE day that retailers look forward to all year and critically depend upon as an anchor to how each retailer’s full year earnings results turn out.  You may already be tired of Christmas ads and the holidays haven’t even arrived yet.  With over 10% unemployment, a recession-end that doesn’t feel like a recession-end, a very tight discretionary spending budget, and a general lack of consumer confidence, it is no surprise at all that the focus for the Holiday Season in 2009 is one of deals and thrift.

These are not in any particular order, but the promotions have been reviewed at Wal-Mart Stores Inc. (NYSE: WMT), Best Buy Co. (NYSE: BBY), Costco Wholesale Corporation (NASDAQ: COST), Target Corp. (NYSE: TGT), Kohl’s Corp. (NYSE: KSS), Gap Inc. (NYSE: GPS), Macy’s, Inc. (NYSE: M), and Nordstrom Inc. (NYSE: JWN).  There is also already promotion between MasterCard Incorporated (NYSE: MA) and Amazon.com Inc. (NASDAQ: AMZN).  Admittedly, this is just a sampling of major outlets.

What is amazing is just how much of the deal-making is already out before the holiday season starts as retailers key off of each other.  It is almost impossible to avoid thinking how such a promotional Christmas and Holiday Season in 2009 is going to add pressure to margins at almost all the first-line retailers.
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Posted on: November 19, 2009 – 12:54 pm in Apparel, Calendar, Editor's Picks, Entertainment, Luxury, Product Review, Retail, , , , , , , , , ,

Macy’s Highlights Value-Performance Conundrum in Dept. Stores (M, JWN, KSS)

Bull and Bear ImageMacy’s Inc. (NYSE: M) is showing just how much of a conundrum there is between today’s retail stock valuations and the reality of what to expect from earnings ahead.  Macy’s had a narrower loss in the last quarter of $35 million, or -$0.08 EPS; but outside of items its earnings were -$0.03 EPS.  Revenues were down over 3% to $5.28 billion. Thomson Reuters had estimates at -$0.07 EPS and $5.25 billion in revenues.    The company did manage solid inventory management controls and its ongoing localized merchandise by region was part of why it raised its sales and earnings guidance for the year.

Still, there are issues between today’s share price versus valuations and where it came up from.  This also highlights issues that lie ahead for Nordstrom Inc. (NYSE: JWN) and Kohl’s Corp. (NYSE: KSS) ahead of their earnings this week.
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Posted on: November 11, 2009 – 10:12 am in Apparel, Earnings, Earnings Warning, Retail, , ,

Top 10 Earnings on Deck This Week (ERTS, ENER, PCLN, SQNM, TYC, AMAT, M, JWN, WMT, DIS)

bull-and-bear-image2Earnings season has wound down now with over 85% of the S&P 500 Index having reported.  Still, there are some key companies posting their quarterly results and some companies were screened out of this list which are still actively traded or widely held stocks.  Electronic Arts Inc. (NASDAQ: ERTS), Energy Conversion Devices, Inc. (NASDAQ: ENER), Priceline.com Inc. (NASDAQ: PCLN) and Sequenom Inc. (NASDAQ: SQNM) are on deck Monday. Also this week are earnings from Tyco International Ltd. (NYSE: TYC), Applied Materials Inc. (NASDAQ: AMAT), Macy’s, Inc. (NYSE: M), are Nordstrom Inc. (NYSE: JWN). Wal-Mart Stores, Inc. (NYSE: WMT) and Walt Disney Co. (NYSE: DIS) are our two DJIA components reporting this week.

We have included Thomson Reuters consensus estimates and included performance and other important color where applicable.  We have shown the share performance since the March 9 close that traders mark as the official end date of the bloody bear market.  One issue to consider is that we used the performance since June 30 to keep consistency for our prior previews even though some of the quarter-ends this coming week are technically August 31.
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Posted on: November 8, 2009 – 10:26 am in Alternative Energy, Calendar, Cult Stock, Earnings, Green Biz, Retail, Semiconductor, Short Interest, , , , , , , , , ,

Media Digest (10/21/2009) Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   China is having trouble managing supply and demand.

Reuters:   Geithner said the core programs of the TARP are ending.

Reuters:   Yahoo! (NASDAQ:YHOO) tripled it profits.

Reuters:   Sun Microsystems (NASDAQ:JAVA) will cut 3,000 jobs due to delays in the Oracle (NASDAQ:ORCL) buyout of the company. Read More »

Posted on: October 21, 2009 – 4:08 am in Press Digest, , , , , , , , , , , , , , , , ,

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, , , , , , , , , , , , , , , , , , , , , , , ,

Hope For Retail: Costco (NASDAQ:COST) Beats The Street

AnnCostco (NASDAQ:COST) announced earnings that beat Wall St. expectations.

Net sales for the fiscal 2009 fourth quarter  ended August 30, 2009 were $21.89 billion, a drop from $22.63 billion in the same period a year ago. Net income for the fourth quarter of fiscal year 2009 was $374 million, or $.85 per share, compared to $398 million, or $.90 per share, in the same quarter last year. Analysts expected EPS of $.77. Read More »

Posted on: October 7, 2009 – 5:55 am in Earnings, Economy, Retail, , ,

Retail Job Picture For Holidays Worsens

AnnThere has been some hope that with a modest recovery from the recession that holiday retail sales would pick up this year. Those hopes appear to be premature. The high levels of unemployment and lack of consumer access to credit may make this Christmas season even worse than last.

The difficulties in the retail sector are going to hurt the jobs market, particularly between now and the end of the year. Read More »

Posted on: September 24, 2009 – 5:50 am in Retail, , , , ,

Top Analyst Upgrades (BCSI, CVD, TRAK, DNDN, DISH, GYMB, HPQ, M, BTU, PETM, X)

These are this Tuesday morning’s top pre-market analyst upgrades and positive research calls seen from Wall Street:

Blue Coat Systems (BCSI) started as Buy at BofA/Merrill.
Covance (CVD) upgraded to Buy at Jefferies.
DealerTrack Holdings (TRAK) upgraded to Outperform at Cowen.
Dendreon (DNDN) Started as Outperform at Leerink Swann.
DISH Network (DISH) upgraded to Outperform at Wells Fargo.
Gymboree (GYMB) upgraded to Outperform at FBR Capital.
Hewlett-Packard (HPQ) upgraded to Outperform at Credit Suisse.
Macy’s (M) upgraded to Buy at Citigroup.
Peabody Energy (BTU) upgraded to Buy at Citigroup.
Petsmart (PETM) Started as Overweight at Thomas Weisel.
US Steel (X) upgraded to Neutral at BofA/Merrill.

You can join our open email distribution list which goes out several times per week for top analyst upgrades and downgrades, top day trader alerts, IPO’s, key secondary offerings, guru investor data on Buffett and others, mergers, and more.

JON C. OGG

Posted on: September 22, 2009 – 8:17 am in Analyst Calls, , , , , , , , , , ,

Martha Stewart Lands at Home Depot (MSO, HD, SHLD, M)

Martha Stewart ImageHD LogoMartha Stewart Living Omnimedia Inc. (NYSE: MSO) has a new exclusive product lineup partner. We still want to know where Martha will end up after the K-Mart deal she has with Sears Holdings (NASDAQ: SHLD) expires, although a new partnership unveiled today does not specifically address that question and does not sound  “exclusive” despite the term being used.

The Home Depot Inc. (NYSE: HD) announced an agreement today with Martha Stewart Living Omnimedia to develop an exclusive Martha Stewart Living brand of home improvement products.  It was not noted that this will have any impact on the K-Mart agreement and it still notes that Macy’s Inc. (NYSE: M) is one of the many retailers where Martha Stewart products will be available.
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Posted on: September 14, 2009 – 4:40 pm in Consumer Goods, Entertainment, Housing, Luxury, Product Review, Retail, , , ,

Shorts Flee Tech Stocks (MSFT)(INTC)(ORCL)(CSCO)

bearShort sellers moved out of tech stocks in large volumes at mid-month. Based on short interest figures as of August 14, shares short in Intel (INTC) fell 33% to 88.3 million. The short interest in Microsoft (MSFT) was down 4% to 65.1 million. Shares short in Cisco (CSCO) fell 14% to 44.2 million. Short interest in Oracle (ORCL) dropped 13% to 29.5 million. The short interest in Nvidia (NVDA) dropped 29% to 26.2 million.

Among other widely followed stocks traded on Nasdaq, shares short in Sirius XM (SIRI) fell 11% to 119.6 million. Shares short in Level 3 (LVLT) were down 5% to 93.8 million. The short interest in Starbucks (SBUX) was up 10% to 44.3 million. Read More »

Posted on: August 25, 2009 – 7:00 pm in Short Interest, , , , , , , , , , , , , , , , , ,

24/7 Wall St. TV: A Miserable Period For E-Commerce

24/7 WallSt TVCostco’s (COST) same-store sales fell 7% last month. The firm was lucky. Abercrombie & Fitch’s (ANF) numbers were down 38%. Saks (SKS) plunged by 16.3% and Neiman Marcus fell 27.3%. July was a sign that all but a few retailers particularly Wal-Mart (WMT) are continuing to watch the year slip away from them.

There was a chance, a promise that e-commerce activity would salvage the retail sector. The increase in revenue from online retail websites averaged 20% in 2007. In the first half of last year, the number fell but was still 12%. There was no increase in the fourth quarter of 2008 compared to the same period the year before. The figures from comScore are in for the second quarter of this year, and online retail sales actually dropped 1% to $30.2 billion, which is astonishing given the robustness of the business just a year ago. Read More »

Posted on: August 11, 2009 – 12:02 pm in Internet, Retail, TV, , ,

The E-Commerce Savior Leaves Town

AnnCostco’s (COST) same-store sales fell 7% last month. The firm was lucky. Abercrombie & Fitch’s (ANF) numbers were down 38%. Saks (SKS) plunged by 16.3% and Neiman Marcus fell 27.3%. July was a sign that all but a few retailers particularly Wal-Mart (WMT) are continuing to watch the year slip away from them. Read More »

Posted on: August 11, 2009 – 5:12 am in Internet, Retail, , , ,

Media Digest 8/4/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   A plan for universal healthcare in China could cut the savings rate.

Reuters:   Bank regulators are opposing the Obama shake-up of the system.

Reuters:   Bank of America (BAC) settled SEC charges over Merrill bonuses.

Reuters:   July retail sales lacked a back-to-school jump. Read More »

Posted on: August 4, 2009 – 3:54 am in Press Digest, , , , , , , , , , , , ,

Macy’s (M) sales seen improving–The 24/7 Wall St./The Channel Checkers Survey

Ann

Over the past week, the 24/7 Wall St./The Channel Checkers poll surveyed various Macy (M) stores to track sales and business levels in July.  We asked the following questions:

1. How is business this year?
2. Do you have any excess inventory?
3. Do you think the economy is affecting business?
4. What is the most popular clothing brand? Read More »

Posted on: July 27, 2009 – 3:49 am in Research, Retail,

Media Digest 6/17/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters: The US faces a long period of economic stagnation.

Reuters:   Obama will release plans for a financial market overhaul.

Reuters:   The White House will not help California fix its deficit.

Reuters:   Large US company bankruptcies are accelerating.

Retuers:   News Corp’s (NWS) MySpace fired 30% of its staff. Read More »

Posted on: June 17, 2009 – 3:08 am in Press Digest, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Media Digest 5/14/2009 Reuters, WSJ, NYT, FT, Bloomberg

newspaperReuters   Obama hopes to have healthcare bill by July

Reuters   Documents on Paulson’s meetings with banks forcing them to take TARP have been released

Reuters   Banks sued MBIA (MBI) over its $5 billion restructuring.

Reuters   Lehman may spin off its remaining assets.

Reuters   Ford (F) is walking a tight rope during the industry downturn.

Reuters   The SEC is proposing action against former Countrywide CEO Mozilo. Read More »

Posted on: May 14, 2009 – 2:58 am in Autos, Banking, Consumer Electronics, Earnings, Pharmaceuticals, Press Digest, Regulation, Semiconductor, , , , , , , , , , , , , ,

Media Digest 5/13/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters : Intel (INTC) said its results are running better than expected.

Reuters :  The government is looking at a pay overhaul in the financial sector.

Reuters: Economic woes are hurting the Medicare and Social Security trust funds.

Reuters: The Chrysler bankruptcy may take two years. Read More »

Posted on: May 13, 2009 – 3:07 am in Autos, Banking, Commodities, Conglomerates, Earnings, Housing, Management Change, Oil & Gas, Press Digest, Regulation, Retail, , , , , , , , , , , , ,

Top Analyst Downgrades (ARB, DB, ETFC, FPL, HXL, M, SFD, UA, ZUMZ)

These are most of the top early bird pre-market downgrades and negative research calls we have seen from Wall Street analysts this Wednesday morning:

Arbitron (ARB) Cut to Neutral at JPMorgan.
Deutsche Bank (DB) Cut to Underperform at Credit Suisse.
E*TRADE (ETFC) Cut to Underperform at FBR.
FPL Group (FPL) Cut to Hold at KeyBanc.
Hexcel (HXL) Cut to Hold at Deutsche Bank.
Macy’s (M) Cut to Neutral at JPMorgan.
Smithfield Foods (SFD) Cut to Underweight at Barclays.
Under Armour (UA) Cut to Sell at Wedbush Morgan.
Zumiez (ZUMZ) Cut to Sell at UBS.

JON C. OGG

Posted on: April 29, 2009 – 6:55 am in Analyst Calls, , , , , , , , ,

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, , , ,

Ten Stocks That Should Double (GE)(GCI)(AAPL)(YHOO)(MSFT)(COP)(XOM)(CVX)(BP)(TSCM)(CBS)(SONC)(M)(C)

bank19Now that final numbers from 2008 have been filed for most large US companies, 24/7 Wall St. is picking several stocks that are likely to double off of their lows, almost all of which were set over the last two weeks.  The time frame for these price increases is between now and the end of 2010, when many experts expect the economy to recover.  A number of the credit and financial issues facing the markets will remain for the near-term.   It may be well beyond the end of next year before the economy returns to the kind of GDP growth it had in 2006.  The other assumption used for picking these companies is a market bottom of 600 on the S&P 500.  If the index goes well below that, it is anyone’s guess how soon stocks will recover to the levels where they trade today. Read More »

Posted on: March 17, 2009 – 4:00 am in Banking, Conglomerates, Entertainment, Hardware, Internet, Media, Oil & Gas, PC Companies, Software, Telecom, , , , , , , , , , , , , ,