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Is Market Getting Too P/C? 05-11-2011
Wednesday, May 11, 2011 - 6:55pm | 867Cusick's Corner The market was not able to muster much of a bounce off the lows, all the major indices closed in the red. Short Dollar players got squeezed today and the Euro currency has broken, which only ratcheted up the pressure on the uber hot commodity markets. While this dynamic can change...
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Sector Shift 05-11-2011
Wednesday, May 11, 2011 - 3:15pm | 980Cusick's Corner Today's headlines: Dollar up, China potentially slowing down, Inflation Concern in the UK, and Offensive Sectors getting hit, XLF/XLK/XLE, most notably Energy. While the dollar might be perceived as a catalyst for the pullback, the real drivers are the Inventories number (released...
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Earnings Preview for Nordstrom (JWN, M, KSS)
Wednesday, May 11, 2011 - 2:40pm | 337Nordstrom (NYSE: JWN) is expected to announce its Q1 earnings results on Thursday, May 12, after the markets close. Analysts are expecting earnings per share to reach $0.66, or an increase of 26.9% on $0.52 recorded in Q1 2010. The Street's estimate was increased by $0.02 in the last 30 days....
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News Summary
Wednesday, May 11, 2011 - 9:37am | 342Crude-oil futures fell ahead of US inventories data. Crude for June delivery declined $1.20, or 1.16%, to $102.68 a barrel in electronic trading on Globex. The Energy Information Administration (EIA) is scheduled to report data on petroleum inventories for last week at 10:30 a.m. ET. Analysts were...
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UPDATE: Piper Jaffray Raises PT on J.C. Penney to $35 (JCP)
Wednesday, May 11, 2011 - 9:34am | 133Piper Jaffray is out with its report today on J.C. Penney (NYSE: JCP), raising its PT from $34 to $35. In a note to clients, Piper Jaffray writes, "On Tuesday evening JCP announced it had completed its previously announced $900M share repurchase program which began in March. We are raising our...
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Piper Jaffray Raises PT On J.C. Penney To $35
Wednesday, May 11, 2011 - 9:25am | 28Piper Jaffray has raised the price target on JC Penney Company (NYSE: JCP) from $34 to $35 and maintains its Neutral rating.
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Earnings Preview for Nordstrom (JWN)
Wednesday, May 11, 2011 - 9:00am | 249Nordstrom (NYSE: JWN) is scheduled to report first-quarter 2011 results after the market closes on Thursday, May 12. Analysts expect the specialty retailer to announce that earnings came to $0.66 per share. That is up from the consensus estimate of $0.63 some 60 days ago, as well as up from per-...
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Earnings Roundup For May 11 (M, MT, TM, TEVA, IL, JSAIY, KID, ENB, SYIEY, GIL, AH, HESAY, BAM, KELYA, ITVPY, LABL)
Wednesday, May 11, 2011 - 8:58am | 907Macy's Inc (NYSE: M) reported its Q1 profit at $131 million, or $0.30 per share, from $23 million, or $0.05 per share, in the year-earlier period. The company's sales increased 5.7% to $5.89 billion. Its same-store sales surged 5.4%. However, analysts were expecting earnings of $0.18 per share....
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Earnings Preview for Kohl's (KSS)
Wednesday, May 11, 2011 - 8:54am | 230Kohl's (NYSE: KSS) will be reporting its first-quarter 2011 results tomorrow, May 12, before the opening bell. Analysts are looking for the company to post earnings of $0.72 per share on revenue of $4.2 billion. That is up from $0.64 per share on $4.0 billion in the same period of last year. Note...
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UPDATE: Macy's Reports Better-Than-Expected Q1 Earnings, Issues Upbeat Forecast
Wednesday, May 11, 2011 - 8:41am | 140Macy's Inc (NYSE: M) released its first-quarter results on Wednesday. The company's profit climbed to $131 million, or $0.30 per share, from $23 million, or $0.05 per share, in the year-earlier period. The company's sales increased 5.7% to $5.89 billion. Its same-store sales surged 5.4%. However,...
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Jefferies Reports Khol's FY EPS Unchanged
Wednesday, May 11, 2011 - 8:29am | 89According to Jefferies, Kohl's (NYSE: KSS) FY EPS is unchanged. Jefferies said that it upped its 1Q EPS to get in line with guidance, but left full year alone as we assume for now that some expenses may have shifted forward. “We expect management to guide 2-4% comp store sales gain for Q2 and a...
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Macy's: Firing On All Fronts (M)
Wednesday, May 11, 2011 - 8:13am | 395Macy's, Inc. (NYSE: M) shares are soaring 6% in pre-market trading after the company blew out earnings estimates, and doubled its quarterly dividend, as the company continues to show improvements, and confidence in the American consumer. The company reported first quarter earnings of 30 cents per...
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Macy's Increases Dividend $0.05 to $0.10
Wednesday, May 11, 2011 - 8:01am | 60Macy's (NYSE: M) announced today that its board of directors has doubled the quarterly dividend on Macy's common stock to 10 cents per share. The dividend of 10 cents per share is payable July 1, 2011, to shareholders of record at the close of business on June 15, 2011. The company's previous...
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Following Fast Buyback, Goldman Sachs Estimates On JCP Are Under Review
Wednesday, May 11, 2011 - 7:22am | 144Following J.C. Penney Company's (NYSE: JCP) buyback completion, Goldman Sachs is providing some color on the stock. “Our estimates assumed that the buyback would be completed over the course of 2011, not by the end of Q1,” Goldman Sachs writes. “The company had guided to a $0.01 buyback benefit in...
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US Stock Futures Up As Investors Await Macy's Earnings; Gold, Silver Futures Rise
Wednesday, May 11, 2011 - 6:34am | 476US stock futures are higher this morning. Gold and silver futures continued to recover from the last week's losses. Futures on the Dow Jones Industrial Average gained 32 points to 12,732.00 and futures on the S&P 500 stock index rose 3.30 points to 1,357.10. Nasdaq 100 futures surged 3.50...