24/7 Wall St. » WAG

April Same-store Sales Headed for a Fall (WAG, KSS, SKS, JCP, TJX, XRT)

Paul Ausick — Mon, 30 Apr 2012 16:32:21 +0000

US retailers will report April same-store sales results this week and the outlook calls for a substantial drop from March’s gain of 3.9% to an April rise of just 1.4%. The data comes from research firm Retail Metrics Inc.

The consensus estimate for a same-store sales gains is down -0.1% from a week ago as a result of lowered forecasts from Walgreen Co. (NYSE: WAG) and Kohl’s Corp. (NYSE: KSS). Other top retailers taking share price hits today include Saks Inc. (NYSE: SKS) down nearly -4%, J.C. Penney Co. Inc. (NYSE: JCP) down about -1%, and The TJX Companies Inc. (NYSE: TJX) down about -1.3%.

Other factors contributing to the lower expectations include the early Easter holiday which pulled sales into March, warm weather in Feburary and March, a late Mother’s day that will push marginal sales into May, and a very high comparison to an 8.7% same-store sales jump in April 2011.

Retail Metrics notes that “the state of the American consumer remains somewhat fragile:”

Unemployment is still entrenched north of 8%, gasoline prices near $4/gallon but looking to have peaked, consumer confidence mixed, … housing and home prices searching for a bottom, growing concerns over a third straight annual economic soft patch, and the weekly initial jobless claims four-week moving average having ticked up again last week.

The research firm also noted that of 19 retailers reporting first quarter results for fiscal quarters ending in March, 16 beat expectations and 15 posted higher year-over-year earnings growth. On the basis of those numbers, Research Metrics now expects first quarter retail earnings to rise 10%, up from an earlier forecast of 8.7%.

Combining the two months of March and April, same-store sales are expected to gain 2.8%, “well below” the average increase for the last 14 months of 4.7% growth. The 2012 growth is also lower than either 2010 (5.2%) or 2011 (4.6%). Some of this year’s drop is attributed to the much higher comparable sales in 2011, as we’ve already noted.

The SPDR S&P Retail ETF (AMEX: XRT) posted a new 52-week high this morning of $63.03 before giving some of the gain back to trade at $62.03 at about 12:30 p.m. The ETF has gained nearly 18% in the past 12 months though it is down slightly for the year-to-date.

Paul Ausick

Filed under: Consumer Goods, Retail Tagged: JCP, KSS, SKS, TJX, WAG, XRT

24/7 Wall St. Closing Bell (MU, ATVI, BAC, SCCO, APOL, GOL, WAG, LEN, CBK, SNX, FDO, MOS, ISTA, OPXT, OCLR, HOGS)

Paul Ausick — Tue, 27 Mar 2012 20:05:41 +0000

Markets opened slightly higher this morning but have been wobbling around the neutral line for the whole day. This morning’s report on the decline of housing prices (our coverage here) and the drop in US consumer confidence has kept buyers in check (our coverage here). There was little other news sufficient to move the markets today. The US dollar index rose today, now up 0.14% at 79.091. Commodities were mixed on the dollar strength, with wheat taking the biggest decline. WTI crude oil closed up 0.3% at $107.33/barrel, and Brent crude trades down -0.34% at $125.22/barrel. Gold settled down less than -0.1% today, at $1,684.90/ounce.

The unofficial closing bells put the DJIA down nearly 44 points to 13,197.96 (-0.33%), the NASDAQ fell more than 2 points (-0.07%) to 3,120.35, and the S&P 500 fell -0.28% or nearly 4 points to 1,412.52.

There were several analyst upgrades and downgrades today, including Micron Technology Inc. (NASDAQ: MU) started as ‘buy’ at Jefferies; Activision Blizzard Inc. (NASDAQ: ATVI) started as ‘buy’ at Stifel Nicolaus; Bank of America Corp. (NYSE: BAC) cut to ‘neutral’ at Baird; Southern Copper Corp. (NYSE: SCCO) raised to ‘overweight’ at Morgan Stanley; and Apollo Group Inc. (NASDAQ: APOL) cut to ‘neutral’ at Credit Suisse.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Apollo Group Inc. is down -8.6% at $39.48; Gol Linhas Aereas Inteligentes SA (NYSE: GOL) is up 2.7% at $7.32; Walgreen Co. (NYSE: WAG) is up 1.3% at $34.80; and Lennar Corp. (NYSE: LEN) is up 4.7% at $27.65 after posting a new 52-week high earlier today of $28.28 (more coverage here and here). After markets close today Christopher & Banks Corp. (NYSE: CBK) and Synnex Corp. (NYSE: SNX) will report earnings. Before the markets open in the morning, we’ll get earnings from Family Dollar Stores Inc. (NYSE: FDO) and the Mosaic Co. (NYSE: MOS).

Other standouts from today include the following stocks:

ISTA Pharmaceuticals Inc. (NASDAQ: ISTA) is up 7.9% at $9.04. The drug company is being acquired. More coverage here.

Opnext Inc. (NASDAQ: OPXT) is up more than 53% at $1.73. The optical equipment maker is merging with Oclaro Inc. (NASDAQ: OCLR). More coverage here.

Zhongpin Inc. (NASDAQ: HOGS) is up nearly 25% at $11.51. The Chinese food processing company has received a preliminary offer to be taken private. More coverage here.

Stay tuned for Wednesday. St. Louis Fed President James Bullard is giving a speech. We have also noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers’ Association purchase applications
8:30 a.m. – Durable goods orders
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 5-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: APOL, ATVI, BAC, CBK, FDO, GOL, HOGS, ISTA, LEN, MOS, MU, OCLR, OPXT, SCCO, SNX, WAG

24/7 Wall St. Closing Bell (BHI, MU, SWY, TSLA, MTG, CALM, SARA, APOL, GOL, WAG, LEN, VRNM, SLB, AONE, AUDC, ARNA)

Paul Ausick — Mon, 26 Mar 2012 20:06:48 +0000

Markets opened about higher this morning following a flat close in Asia and a bit of enthusiasm in Europe following a manufacturing survey from Germany (our coverage here). Then Fed Chairman Ben Bernanke hinted that more stimulus might be on its way to help boost employment(our coverage here). By the last hour of trading the indexes were at or near their highest level of the day. The US dollar index fell today, now down -0.46% at 78.978. Commodities were generally higher on the dollar weakness, with the notable exception of corn. WTI crude oil closed up 0.2% at $107.03/barrel, and Brent crude trades up 0.44% at $125.68/barrel. Gold settled up 1.6% today, at $1,689.00/ounce.

The unofficial closing bells put the DJIA up more than 161 points to 13,241.93(1.23%), the NASDAQ rose nearly 55 points (1.78%) to 3,122.57, and the S&P 500 rose 1.39% or more than 19 points to 1,416.50.

There were several analyst upgrades and downgrades today, including Baker Hughes Inc. (NYSE: BHI) cut to ‘market perform’ at Wells Fargo; Micron Technology Inc. (NASDAQ: MU) cut to ‘perform’ at Oppenheimer; Safeway Inc. (NYSE: SWY) cut to ‘neutral’ at Credit Suisse; Tesla Motors Inc. (NASDAQ: TSLA) raised to ‘buy’ at Wunderlich; and Magic Investment Corp. (NYSE: MTG) started as ‘market perform’ at Keefe Bruyette Woods.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Cal-Maine Foods Inc. (NASDAQ: CALM) is down -5.7% at $39.58; and Saratoga Resources Inc. (AMEX: SARA) is up 6.9% at $7.43. After markets close today Apollo Group Inc. (NASDAQ: APOL) and Gol Linhas Aereas Inteligentes SA (NYSE: GOL) report earnings. Before the markets open in the morning, we’ll get earnings from Walgreen Co. (NYSE: WAG) and homebuilder Lennar Corp. (NYSE: LEN).

Other standouts from today include the following stocks:

Verenium Corp. (NASDAQ: VRNM) is up nearly 20% at $3.69 after posting a new 52-week high of $4.15 earlier today. The enzyme maker is selling some assets. More coverage here.

Schulumberger Ltd. (NYSE: SLB) is down -1.1% at $72.36. The oil field services giant warned on earnings. More coverage here.

A123 Systems Inc. (NASDAQ: AONE) is down about -13.4% at $1.47 after posting a new 52-week low of $1.45 earlier. The company will recall certain batteries for replacement. More coverage here.

AudioCodes Ltd. (NASDAQ: AUDC) is down -16.2% at $2.95. The network gear maker lowered its outlook. More coverage here.

Arena Pharmaceuticals Inc. (NASDAQ: ARNA) is up more than 24% at $2.99 after posting a new 52-week high of $3.19. The drug-maker has begun the process of getting a new drug to market in Europe. More coverage here.

Stay tuned for Tuesday. Federal Reserve Chairman Ben Bernanke and Boston Fed President Eric Rosengren are giving speeches. We have also noted the following events on the schedule (all times Eastern):

9:00 a.m. – S&P Case-Shiller housing price index
10:00 a.m. – Conference Board consumer confidence index
10:00 a.m. – Richmond Fed manufacturing index
11:30 a.m. – 4-week Treasury bill auction
2:00 p.m. – 2-year note auction

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AONE, APOL, ARNA, AUDC, BHI, CALM, GOL, LEN, MTG, MU, SARA, SLB, SWY, TSLA, VRNM, WAG

Top Earnings Previews for the Week Ahead (APOL, GOL, LEN, PVH, WAG, CMC, FDO, MOS, PAYX, RHT, SN, TEA, BBY, PBY, RIMM)

Administrator — Fri, 23 Mar 2012 15:15:02 +0000

Earnings season is all but over and only the tail end of the quarterly and off-calendar reporting outfits are still reporting earnings. Still, the coming week does have several key earnings reports coming down the pipe.

We are offering previews and adding color if applicable on the following companies: Apollo Group Inc. (NASDAQ: APOL); GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL); Lennar Corporation (NYSE: LEN); PVH Corporation (NYSE: PVH); Walgreen Co. (NYSE: WAG); Commercial Metals Co. (NYSE: CMC); Family Dollar Stores Inc. (NYSE: FDO); The Mosaic Co. (NYSE: MOS); Paychex Inc. (NASDAQ: PAYX); Red Hat Inc. (NYSE: RHT); Sanchez Energy Corporation (NYSE: SN); Teavana Holdings Inc. (NYSE: TEA); Best Buy Co. Inc. (NYSE: BBY); Pep Boys-Manny Moe & Jack (NYSE: PBY); and Research In Motion Ltd. (NASDAQ: RIMM).

Monday , March 26

Apollo Group Inc. (NASDAQ: APOL): Thomson Reuters has estimates of $0.37 EPS and $932.8 million in revenues. Shares of the online university at around $42.50 and the 52-week range is $37.08 to $58.29.

GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL) is expected to report earnings of $0.07 EPS on a translated basis from Brazilian Reals for the Latin American airline outfit. A slowing Brazil story has not helped GOL out and at $7.50 the 52-week trading range is $5.03 to $14.35.

Tuesday, March 27

Lennar Corporation (NYSE: LEN) was soft after weaker than expected new home sales data for February, but the homebuilder is up over 100% from the lows of 2011. At $25.75, the 52-week range is $12.14 to $27.07. Thomson Reuters has estimates of $0.04 EPS and $699.4 million in revenues.

PVH Corporation (NYSE: PVH): Thomson Reuters has estimates of $1.09 EPS and $1.5 billion in revenues. Ay $88.40, shares are very close to the highs with its 52-week range of $51.15 to $90.64.

Walgreen Co. (NYSE: WAG) has not been a big performer of late and the $33.50 handle today compares to a 52-week range of $30.34 to $45.34. Thomson Reuters has estimates of $0.77 EPS and $18.56 billion in revenues.

Filed under: 24/7 Wall St. Wire, Calendar, Earnings, Economy, The Week Tagged: APOL, BBY, CMC, FDO, GOL, LEN, MOS, PAYX, PBY, PVH, RHT, RIMM, SN, TEA, WAG

24/7 Wall St. Closing Bell (FSLR, MA, WAG, WEN, SD, DVR, EIX, NKTR, SSW, BID, DRC, JRCC, KR, MSO, ARCT, PEGA, CVO, TUDO, FFN)

Paul Ausick — Thu, 01 Mar 2012 21:08:23 +0000

The three major US equities indexes opened higher this morning after another (small) drop in new unemployment benefits claims and a good, but smaller-than-expected, rise in personal income and spending data (our coverage here). Lower-than-expected ISM manufacturing data was countered by generally good reports from retailers on February same-store sales (our coverage here). By mid-afternoon, the DJIA turned south and has given back more than 50 points though the average still remains in positive territory for the day. Crude oil is up sharply today, with WTI crude closing up 1.7% at $108.84/barrel and Brent crude up more than 4% at $127.70/barrel. Gold settled up 0.6% at $1,722.20/ounce.

The unofficial closing bells put the DJIA up more than 28 points to 12,980.30 (0.22%), the NASDAQ rose more than 22 points (0.74%) to 2,988.97, and the S&P 500 rose 0.62% or more than 8 points to 1,374.09.

There were several analyst upgrades and downgrades today, including First Solar Inc. (NASDAQ: FSLR) maintained ‘buy’ but target price lowered to $50 at Argus (more coverage here); Mastercard Inc. (NYSE: MA) started as ‘neutral’ at UBS; Walgreen Co. (NYSE: WAG) cut to ‘underperform’ at BofA/ML; Wendy’s Co. (NYSE: WEN) cut to ‘neutral’ at Janney; and SandRidge Energy Inc. (NYSE: SD) cut to ‘sell’ at Canaccord Genuity.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Cal Dive International Inc. (NYSE: DVR) is up 8.8% at $3.16; Edison International (NYSE: EIX) is up 1.9% at $42.65 after posting a new 52-week high of $44.40 earlier today; Nektar Therapeutics (NASDAQ: NKTR) is up 2.4% at $7.35; Seaspan Corp. (NYSE: SSW) is up 6.1% at $18.32; Sotheby’s (NYSE: BID) is down -10.2% at $35.32 (more coverage here); Dresser Rand Group Inc. (NYSE: DRC) is down -1.2% at $51.91; James River Coal Co. (NASDAQ: JRCC) is up 10.7% at $6.34; Kroger Co. (NYSE: KR) is up 2.2% at $24.32; and Martha Stewart Living Omnimedia Inc. (NYSE: MSO) is down -3.2% at $4.36.

Other standouts from today include the following stocks:

American Realty Trust Inc. (NASDAQ: ARCT) is up more than 73% at $10.40. The commercial real estate company came public this morning at $6/share, along with a tender auction to purchase up to $220 million worth of shares at a price not higher than $11/share and not less than $10.50/share.

Pegasystems Inc. (NASDAQ: PEGA) is up nearly 34% at $37.50. The business software maker beat earnings estimates last night.

Cenveo Inc. (NYSE: CVO) is up nearly 26% at $4.91. The printing company reported better-than-expected earnings last night, and has kicked off a tender offer to redeem about $460 million in debt.

Tudou Holdings Inc. (NASDAQ: TUDO) is down nearly -17% at $13.30. The Chinese online video company reported better-than-expected revenues last night, but soaring costs led to a net loss.

FriendFinder Networks Inc. (NASDAQ: FFN) is down nearly -14% at $1.76. The adult social networking company’s credit rating was cut this morning by S&P.

Stay tuned for Friday. Chicago Fed president Charles Evans and St. Louis Fed president James Bullard are giving speeches. There are no other events of note scheduled for tomorrow.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ARCT, BID, CVO, DRC, DVR, EIX, FFN, FSLR, JRCC, KR, MA, MSO, NKTR, PEGA, SD, SSW, TUDO, WAG, WEN

Top Analyst Upgrades & Downgrades (ADP, FSLR, FIO, HLF, IACI, MA, PAYX, PRA, SD, TRN, UPL, V, WAG, WEN)

Administrator — Thu, 01 Mar 2012 13:19:49 +0000

These are some of this Thursday’s top analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

Automatic Data Processing, Inc. (NASDAQ: ADP) Started as Buy at UBS.

First Solar Inc. (NASDAQ: FSLR) Maintained Buy but cut target to $50 at Argus.

Fusion-io, Inc. (NYSE: FIO) Started as Outperform with $50 target at Credit Suisse.

Herbalife Ltd. (NYSE: HLF) Reiterated Buy and raised target to $76 at Argus.

InterActiveCorp (NASDAQ: IACI) Raised to Buy at BofA/ML.

MasterCard Inc. (NYSE: MA) Started as Neutral at UBS.

Paychex, Inc. (NASDAQ: PAYX) Started as Buy at UBS.

ProAssurance Corp. (NYSE: PRA) named as Bull of the Day at Zacks.

SandRidge Energy, Inc. (NYSE: SD) Cut to Sell at Canaccord Genuity.

Trinity Industries, Inc. (NYSE: TRN) named as Value stock of the day at Zacks.

Ultra Petroleum Corp. (NYSE: UPL) named as Bear of the Day at Zacks.

Visa Inc. (NYSE: V) Started as Neutral at UBS.

Walgreen Co. (NYSE: WAG) Cut to Underperform at BofA/ML.

Wendy’s Company (NYSE: WEN) Cut to Neutral at Janney.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

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JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: ADP,, FIO, FSLR, HLF, IACI, MA, PAYX, PRA, SD, TRN, UPL, V, WAG, WEN

Twelve Retailers Flunking Customer Service

247wallst — Tue, 21 Feb 2012 11:36:24 +0000

As recently as 2009, Netflix was the most beloved retailer on the Internet. By the end of 2011, following the failed separation of its streaming and DVD by mail service and sharp price increases, the company had the sixth-worst customer satisfaction rating among all e-commerce companies, and one of the worst among all retailers including brick-and-mortar outfits, according to the American Customer Satisfaction Index.

Read The Twelve Retailers Flunking Customer Service

24/7 Wall St. examined ACSI’s annual retail and e-commerce satisfaction report and identified the 12 companies whose customer satisfaction decreased in 2011.

Many of the companies whose customer satisfaction scores dropped the past year have simply cemented their already terrible service reputations.

Walmart, which debuted strong on the Index in 1994, dropped to among the lowest ranked companies by 1996, where it has remained since. Winn-Dixie, a supermarket chain which does business in the southeast, is an example of a company that has never managed to break free of the lowest rungs of customer service. CVS Caremark and Staples, both on this list, have seen occasional improvements in customer service, but are among the worst.

For other companies, however, losing customer satisfaction is in conflict with their reputations. Amazon.com had a 1.1% decrease in its customer service score this past year, even though it still maintained the highest customer satisfaction score among retailers. Charles Schwab’s customer satisfaction also dipped slightly, despite the fact that customers are more satisfied with the company than with any other online brokerage firm.

These are the American retailers with customer satisfaction scores fell in 2011.

Filed under: 24/7 Wall St. Wire, General, Special Report Tagged: AMZN, BKS, CVS, DG, ESRX, ETFC, EXPE, NFLX, ODP, OMX, OWW, PCLN, RAD, SCHW, SPLS, WAG, WINN, WMT

Retail Sales Roundup (COST, TGT, JCP, KSS, DDS, JWN, SKS, SSI, M, GPS, TJX, LTD, ROST, SMRT, WTSLA, BKE, ZUMZ, WAG)

Paul Ausick — Thu, 05 Jan 2012 17:24:53 +0000

US retailers are reporting December same-store sales today, and here’s a wrap-up of the results as of about 10 a.m. this morning. Reports were in from Costco Wholesale Corp. (NASDAQ: COST), Target Corp. (NYSE: TGT), J.C. Penney Co. Inc. (NYSE: JCP), Kohl’s Corp. (NYSE: KSS), Dillard’s Inc. (NYSE: DDS), Nordstrom Inc. (NYSE: JWN), Saks Inc. (NYSE: SKS), Stage Stores Inc. (NYSE: SSI), Macy’s Inc. (NYSE: M), Gap Inc. (NYSE: GPS), The TJX Cos. Inc. (NYSE: TJX), Limited Brands Inc. (NYSE: LTD), Ross Stores Inc. (NASDAQ: ROST), Stein Mart Inc. (NASDAQ: SMRT), Wet Seal Inc. (NASDAQ: WTSLA), Buckle Inc. (NYSE: BKE), Zumiez Inc. (NASDAQ: ZUMZ), and Walgreen Co. (NYSE: WAG).

Teen stores Buckle and Zumiez battered expectations, while Gap and Wet Seal both missed expectations badly.

Data from CNBC.

Store

Consensus Est.

Actual

Costco 7.6% 7.0%

Target 3.1% 1.6%

J.C. Penney -0.1% 0.3%

Kohl’s 2.2% -0.1%

Dillard’s 3.0% 4.0%

Nordstrom 5.1% 8.7%

Saks 5.8% 5.8%

Stage Stores 1.0% 1.2%

Macy’s 5.0% 6.2%

Gap -1.3% -4%

TJX 2.6% 8%

Limited 5.7% 7%

Ross 4.2% 9%

Stein Mart -1% Flat

Wet Seal -1% -3.7%

Buckle 5.0% 8.9%

Zumiez 5.1% 10%

Walgreen -0.1% 0.4%

Buckle shares are up more than 2% at $41.33 in a 52-week range of $33.97-$47.97. Zumiez shares are up more than 14% at $30.13 in a 52-week range of $15.85-$30.90. Gap shares are down nearly -4% at $18.18 in a 52-week range of $15.08-$23.73. Wet Seal shares are down more than -2.5% at $3.21 in a 52-week range of $3.03-$5.23.

Paul Ausick

Filed under: Apparel, Consumer Goods, General, Retail Tagged: BKE, COST, DDS, GPS, JCP, JWN, KSS, LTD, M, ROST, SKS, SMRT, SSI, TGT, TJX, WAG, WTSLA, ZUMZ

24/7 Wall St. Closing Bell (AEO, RAM, TSRX, WAG, SCG, BASI, CAMP, RAM, NOA, FAC, PHH, MJN, SFLY)

Paul Ausick — Fri, 23 Dec 2011 21:04:41 +0000

Today’s opening on equity markets lifted stocks slightly on mixed economic news. New home and durable goods sales rose more than expected, but personal income and spending didn’t meet expectations, with income growth at just 0.1% in November compared growth of 0.4% in October. The Santa Claus rally continued all day on very light volume. WTI crude oil is up about 0.3% at $99.83/barrel and Brent crude is up just 0.06% at $107.96. Gold continues to fall, down to $1,607.10, a drop of -0.22%.

The unofficial closing bells put the DJIA up about 125 points to 12,294.68 (1.03%), the NASDAQ rose more than 19 points (0.74%) to 2,618.64, and the S&P 500 rose 0.9% or more than 11 points to 1,265.31.

There were several analyst upgrades and downgrades today, including American Eagle Outfitters Inc. (NYSE: AEO) cut from ‘buy’ to ‘hold’ at Standpoint Research; RAM Energy Resources Inc. (NYSE: RAM) raised from ‘market perform’ to ‘outperform’ at Rodman; Trius Therapeutics Inc. (NASDAQ: TSRX) started as ‘outperform’ at Robert W. Baird; Walgreen Co. (NYSE: WAG) maintained as ‘hold’ with a lowered price target of $36 at Jefferies; and Scana Corp. (NYSE: SCG) maintained as ‘buy’ with raised price target of $43 at Wunderlich.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Bioanalytical Systems Inc. (NASDAQ: BASI) is up more than 15% at $1.60 and CalAmp Corp. (NASDAQ: CAMP) is down more than -19% at $4.13. All told a light day for earnings reports.

Other standouts from today include the following stocks:

RAM Energy Resources Inc. (NASDAQ: RAM) is up nearly 21% at $2.43. The independent oil & gas company continues its run from yesterday, when if finished up more than 70% on news of re-listing on Nasdaq and a $550 million private equity investment.

North American Energy Partners Inc. (NYSE: NOA) is up more than 33% at $6.98. The oil field services company will resume its contract with Canadian Natural Resources Ltd. (NYSE: CNQ) pending a final contract signing.

First Acceptance Corp. (NYSE: FAC) is up nearly 33% at $1.36. A director of the insurance company bought 200,000 shares on Wednesday.

PHH Corp. (NYSE: PHH) is down more than -5% at $10.53. The mortgage servicer’s credit ratings were cut yesterday at S&P and the fallout continues.

Mead Johnson Nutrition Co. (NYSE: MJN) is down about -5.5% at $64.97. The food processing company had its Enfamil infant formula recalled at Wal-Mart Stores Inc. (NYSE: WMT) yesterday, and Walgreen’s, Safeway, Kroger, and Supervalu stores followed today.

Shutterfly Inc. (NASDAQ: SFLY) is down nearly -5% at $23.89. The Internet photo site cut its fourth-quarter guidance this morning.

Markets are closed Monday, December 26. Stay tuned for Tuesday. Here are the noteworthy events on the schedule (all times Eastern):

9:00 a.m. – S&P Case-Shiller housing price index

10:00 a.m. – Conference Board consumer sentiment index

10:00 a.m. – State Street investor confidence index

Have a Merry Christmas Day and great weekend.

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Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AEO, BASI, CAMP, FAC, MJN, NOA, PHH, RAM, SCG, SFLY, TSRX, WAG

24/7 Wall St. Closing Bell (F, GS, RIMM, HON, ORCL, NKE, ATU, KMX, KBH, SHAW, WAG, DFG, CMFB, WWAY, AMPE, VMW, CVLT)

Paul Ausick — Wed, 21 Dec 2011 21:11:35 +0000

Markets opened lower this morning on mixed reaction to the $641 billion borrowing spree from the European Central Bank. Technology stocks were weighed down by poor earnings report and uninspired guidance from one of the industry’s biggest players. The DJIA and the S&P 500 finally reached positive territory about half an hour before closing, but the Nasdaq never touched the line. A very large drawdown on US crude oil inventories helped energy stocks post some gains. One hour before trading closes for the day only a half billion shares have traded hands on the NYSE today. The US dollar is slightly stronger against the euro and the Japanese yen, but down slightly against the British pound. WTI crude oil is up more than 1.5% at $98.79/barrel, and Brent crude is up about 1% at $107.78. Gold was down -0.25% at $1,613.50.

The unofficial closing bells put the DJIA up about 4 points to 12,107.74 (0.03%), the NASDAQ fell nearly 26 points (-0.99%) to 2,577.97, and the S&P 500 rose 0.19% or more than 2 points to 1,243.72.

There were several analyst upgrades and downgrades today, including Ford Motor Co. (NYSE: F) started as ‘buy’ at Sterne Agee. Other ratings actions today include Goldman Sachs Group Inc. (NYSE: GS) started as ‘market perform’ at Wells Fargo; Research in Motion Ltd. (NASDAQ: RIMM) raised from ‘hold’ to ‘buy’ with a $16 target price at ThinkEquity; Honeywell International Inc. (NYSE: HON) reiterated as ‘buy’ with a $70 target price at Argus; and Oracle Corp. (NASDAQ: ORCL) cut from ‘buy’ to ‘hold’ at Canaccord Genuity and maintained as ‘buy’ with a lowered target price of $40 at Credit Suisse.

Here are today’s post-earnings news reactions with prices during the last half-hour of trading: Oracle Corp. is down nearly -11% at $25.98; Nike Inc. (NYSE: NKE) is up nearly 3% at $96.40; Actuant Corp. (NYSE: ATU) is up nearly 9% at $22.61; CarMax Inc. (NYSE: KMX) is down nearly -6% at $29.22; KB Home (NYSE: KBH) is down more than -5% at $7.33; Shaw Group Inc. (NYSE: SHAW) is up nearly 17% at $26.45; and Walgreen Co. (NYSE: WAG) is down about -0.5% at $33.34. For more on the ripple effects of Oracle’s weak earnings, see our coverage here.

Other standouts from today include the following stocks:

Delphi Financial Group Inc. (NYSE: DFG) is up almost 73% at $43.99 after posting a new 52-week high of $44.00. The insurance and financial services company has agreed to be acquired by Japan’s Tokio Marine for $2.66 billion.

Commercefirst Bancorp Inc. (NASDAQ: CMFB) is up nearly 71% at $13.25 after posting a new 52-week high of $13.99 earlier today. The Maryland bank holding company is being acquired by Sandy Spring Bancorp Inc. (NASDAQ: SASR) for $24.5 million in stock and cash, or about $13.50/share.

Westway Group Inc. (NASDAQ: WWAY) is up nearly 23% at $5.50 after posting a new 52-week high of $6.60 earlier today. The bulk liquid storage provider has rejected a $6/share unsolicited takeover offer from an unidentified infrastructure investment fund.

Ampio Pharmaceuticals Inc. (NASDAQ: AMPE) is down more than -17% at $4.38. The drug company announced the sale of 2.2 million shares in private sale to investors at $4.25/share.

VMWare Inc. (NYSE: VMW) is down more than -10% at $76.65. The virtual software company is suffering from Oracle’s weak earnings and guidance.

CommVault Systems Inc. (NASDAQ: CVLT) is down more than -15% at $39.22. The software company is another of Oracle’s victims.

Stay tuned for Thursday. Here are other noteworthy events on the schedule (all times Eastern):

8:30 a.m. – US Commerce Department GDP report

8:30 a.m. – Initial unemployment benefits claims report

8:30 a.m. – Chicago Federal Reserve national activity index

8:30 a.m. – Bureaus of Economic Analysis corporate profits report

9:55 a.m. – Reuters/University of Michigan consumer sentiment index

10:00 a.m. – Federal Housing Finance Agency house price index

10:00 a.m. – Conference Board leading economic indicators

10:30 a.m. – EIA weekly natural gas inventory report

4:30 p.m. – Federal Reserve balance sheet and money supply reports

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Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AMPE, ATU, CMFB, CVLT, DFG, F, GS, HON, KBH, KMX, NKE, ORCL, RIMM, SHAW, VMW, WAG, WWAY

Store	Consensus Est.	Actual
Costco	7.6%	7.0%
Target	3.1%	1.6%
J.C. Penney	-0.1%	0.3%
Kohl’s	2.2%	-0.1%
Dillard’s	3.0%	4.0%
Nordstrom	5.1%	8.7%
Saks	5.8%	5.8%
Stage Stores	1.0%	1.2%
Macy’s	5.0%	6.2%
Gap	-1.3%	-4%
TJX	2.6%	8%
Limited	5.7%	7%
Ross	4.2%	9%
Stein Mart	-1%	Flat
Wet Seal	-1%	-3.7%
Buckle	5.0%	8.9%
Zumiez	5.1%	10%
Walgreen	-0.1%	0.4%