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The Bon-Ton Stores May Comparable Store Sales Down 2.3%
Thursday, June 2, 2011 - 7:32am | 43The Bon-Ton Stores, Inc. (NASDAQ: BONT) today announced comparable store sales for the four weeks ended May 28, 2011 decreased 2.3%. Total sales decreased 2.9% to $181.0 million for the four weeks compared with $186.5 million for the prior year period.
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Earnings Preview: Phillips-Van Heusen Revenue Expected to Double
Monday, May 30, 2011 - 8:44am | 418Phillips-Van Heusen (NYSE: PVH) is set to report first-quarter fiscal 2011 results Tuesday, May 31, after the markets close. Analysts are looking for the shirt maker to report that earnings grew 28.4% from a year ago to $1.16 per share. That consensus earnings estimate is unchanged from 30 days ago...
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Merger Arbitrage Mondays – May 30, 2011
Monday, May 30, 2011 - 6:17am | 4823Merger activity decreased last week with three new deals announced and four closing. You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours. Deal Statistics: Total Number of Deals Closed in 2011 78 Total Number of Deals...
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Public Companies Giving Out Cash Like They're Oprah on a Coke Binge
Thursday, May 26, 2011 - 5:25pm | 538For all the talk about the recession, one segment of the economy is booming. The corporate world is flush with cash, and the proof is in the dividend pudding. Take a look at the news wire the last few days. It seems like everybody and their grandmother is handing out new dividends, increasing...
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UPDATE: Google, Citi, MasterCard, First Data and Sprint Team up on Mobile Payment Technology
Thursday, May 26, 2011 - 12:29pm | 880At an event today, Google (NASDAQ: GOOG), Citi (NYSE: C), MasterCard (NYSE: MA), First Data and Sprint (NYSE: S) announced and demonstrated Google Wallet, an app that will make your phone your wallet so you can tap, pay and save money and time while you shop. For businesses, Google Wallet is an...
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Joel Greenblatt: One Bubble After Another
Thursday, May 26, 2011 - 8:40am | 436Joel Greenblatt, of Gotham Asset Management, spoke at the Ira Sohn Conference yesterday, and said that we have been in one continuing bubble since 2000, just different kinds of bubbles. Since 2000, we have experienced the Internet bubble, which led to the NASDAQ crashing some 50%, of which it...
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Citi Reiterates Buy Rating On JC Penney
Wednesday, May 25, 2011 - 8:38am | 128According to Citi, JC Penney (NYSE: JCP) management was upbeat at Citi's conference, citing the fact that all 19 of its growth initiatives exceeded plan in 1Q11. Citi said that JCP will also be increasing its investment in the center core, which has 3x the sales productivity of the overall store...
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Morgan Stanley Reports on Macy's
Wednesday, May 25, 2011 - 8:10am | 166Morgan Stanley commented on Macy's (NYSE: M) in a report released yesterday. In the report, Morgan Stanley was positive in its assessment of the company. Morgan Stanley writes, "While upward EPS revisions have driven share +18% MTD (and we see more positive revisions ahead), we expect multiple...
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Dillard's Announces $250 Million Share Repurchase Program and Raises Cash Dividend 25% to $0.05 per Share
Wednesday, May 25, 2011 - 8:01am | 108Dillard's, Inc. (NYSE: DDS) today announced that the board of directors has approved a share repurchase program authorizing the Company to repurchase up to $250 million of its Class A Common Stock. The new open-ended authorization permits the Company to repurchase its Class A Common Stock in the...
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Morgan Stanley Raises PT On Macy's To $33
Wednesday, May 25, 2011 - 6:38am | 26Morgan Stanley has raised the price target on Macy's (NYSE: M) from $31 to $33 and maintains its Overweight rating.
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Resistance is Former Support Level 05-24-2011
Tuesday, May 24, 2011 - 2:51pm | 931Cusick's Corner Some readers have asked me what sparked my skepticism last week. Answer: Europe -- specifically the PIIGS. While Greece is that ugly sore that just won't go away, the revelations that Italy may be in trouble has rocked the market since Italy has had the best performing market in...
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Sears Holdings Names Sam Solomon as SVP and President of Tool Business
Monday, May 23, 2011 - 9:19am | 103Sears Holdings (NASDAQ: SHLD) announced today that Sam Solomon has joined the company as SVP and President of its Tools business. Mr. Solomon is responsible for developing and driving growth and profit opportunities for one of the company's cornerstone businesses. He was recently CEO and...
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Options Brief: J. C. Penney Company
Friday, May 20, 2011 - 11:15am | 89Shares of J. C. Penney Company (NYSE: JCP) are lower on the session by 4.43%, trading at $36.28. Overall put volume is now running at 2.99x the daily average, with 10% of all puts traded being purchases on the offer. 17,137 contracts have traded on the session so far. J. C. Penney Company, Inc....
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News Summary
Thursday, May 19, 2011 - 10:03am | 269Shares of Sears Holdings Corp (NASDAQ: SHLD) fell about 4.3% after the company swung to a FQ1 loss from a year-ago profit. Sears Holdings posted a 3.6% drop in its domestic same-store sales. The company posted a quarterly loss at $170 million, or $1.58 per share, versus a net income of $16 million...
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Earnings Roundup For May 19
Thursday, May 19, 2011 - 9:28am | 1013Williams-Sonoma Inc (NYSE: WSM) reported a 62% rise in its fiscal first-quarter net income. Williams-Sonoma reported a quarterly profit at $31.6 million, or $0.29 per share, versus $19.5 million, or $0.18 per share, in the year-ago period. Its adjusted earnings came in at $0.30 per share. The...