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LVMH to Boost US Exposure, Saks Has Been Earmarked as Most Probable Target
Wednesday, November 17, 2010 - 12:03pm | 49Saks (NYSE: SKS) hearing France luxury giant LVMH in a hurry to boost US exposure ..source says there is speculation that Saks has been earmarked as most probable target. If LVMH makes a move, we may see a bid over $15-per-share
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Deutsche Bank Increases Price Target and EPS on Saks
Wednesday, November 17, 2010 - 10:31am | 125Deutsche Bank has increased its price target and EPS estimate on Saks (NYSE: SKS) following 3Q10 results. In 3Q, SKS's EPS was $0.06, ex-items, which was double the consensus estimate. Q3:10 sales increased 4.3% on a +5.7% comp compared to -10.1% LY. Deutsche Bank writes, "Saks currently trades at...
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Saks Inc. Q3 Above Consensus, Deutsche Bank Reports
Wednesday, November 17, 2010 - 9:39am | 76Saks Inc.'s (NYSE: SKS) Q3 EPS of $0.06, ex-items, was above the $0.03 Consensus and up LY, Deutsche Bank reports. “Strong inventory mgmt, full-priced selling, and less promotional activity helped drive gross margins up +227bp y/y, above our estimate,” Deutsche Bank writes. “SG&A deleveraged as...
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Market Challenging Mid-Term Support 11-16-2010
Tuesday, November 16, 2010 - 7:50pm | 978Cusick's Corner Well, the last time we heard the terms bailout and interest rate hikes, the markets were quite volatile. This recent slide continued after the close and through the night, slicing through critical support with no bid in sight. Some bulls were part of those frustrated “longs” that...
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Nordstrom Down 3.3% Despite Beating Estimates (JWN)
Tuesday, November 16, 2010 - 3:46pm | 151Shares of Nordstrom Inc. (NYSE: JWN) are currently down 3.3% at $40.47 per share during Tuesday afternoon trading. Today's trading range for shares of Nordstrom Inc has been between $39.92 and $41.48 per share. The consensus price target of analysts covering the company's stock is $44.47 per share...
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Afternoon Market Update
Tuesday, November 16, 2010 - 1:02pm | 205Shares of Perfect World (NASDAQ: PWRD) dipped around 15% after the company reported a sharp decline in its Q3 earnings. Analysts at Credit Suisse and Citigroup both downgraded PWRD to “sell” rating. Shares of Saks Inc (NYSE: SKS) lost more than 1% after the company reported its Q3 results. The...
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Saks Up 3.5% On Strong Earnings (SKS)
Tuesday, November 16, 2010 - 10:39am | 106Saks Incorporated (NYSE: SKS) is up more than 3.5% this morning after the luxury retailer reported better than expected earnings this morning. Saks reported earnings of 20 cents per share. Excluding items, it reported 6 cents per share, 3 cents better than Wall Street estimates. Revenues rose to...
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Nordstrom Beats on Solid Comps - Analyst Blog
Tuesday, November 16, 2010 - 10:33am | 532Nordstrom Inc. (JWN) posted earnings growth of 42.6% to reach 53 cents a share in the third quarter of fiscal 2010 from 38 cents earned in the year-ago period. Earnings per share beat the Zacks Consensus Estimate of 51 cents. Quarterly Details Nordstrom's same-store sales and top-line trends...
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Piper Jaffray Reiterates Nordstrom Rating
Tuesday, November 16, 2010 - 9:23am | 97Piper Jaffray is reiterating its Overweight rating on shares of Nordstrom, Inc. (NYSE: JWN) following the company's FQ3 report in which “EPS beat our estimate by two cents on better than expected gross margin.” “Same-store sales growth accelerated from Q2 into Q3 on a two-year basis, and we believe...
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Saks Incorporated Announces Third Quarter EPS of $.20
Tuesday, November 16, 2010 - 9:01am | 41Saks Incorporated (NYSE: SKS) today announced results for the third quarter and nine months ended October 30, 2010. For the third quarter ended October 30, 2010, the Company recorded net income of $36.3 million, or $.20 per diluted share.
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J.P. Morgan Neutral On Nordstrom (JWN)
Tuesday, November 16, 2010 - 8:16am | 128J.P. Morgan Chase & Co. has a Neutral rating and a $40 price target on Nordstrom, Inc. (NYSE: JWN) after the company reported earnings yesterday after the bell. In a note sent to clients, J.P. Morgan writes, "However, reading between the lines, management's outlook for “flattish” comps in 4Q...
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US Stock Futures Signal Lower Start On Wall Street, Economic Data In Focus
Tuesday, November 16, 2010 - 7:38am | 277US stock futures are lower, this morning as investors awaited several economic reports. Futures on the Dow Jones Industrial Average dropped 79 points to 11,094.00, while S&P 500 futures declined 8.00 points to 1,187.80. Nasdaq 100 futures fell 17.75 points to 2,110.25. US stock markets ended...
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Earnings Scheduled For November 16 (SKS, TJX, HD, ANF, WMT, JEC, LZB, BOBE, DKS, GA)
Tuesday, November 16, 2010 - 4:20am | 270Saks Incorporated (NYSE: SKS) is expected to post its earnings at $0.02 per share on revenue of $656 million in the third quarter. TJX (NYSE: TJX) is estimated to post its Q3 EPS at $0.90 on revenue of $5.53 billion. Home Depot (NYSE: HD) is projected to report its Q3 earnings at $0.48 per share on...
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Stocks To Watch For November 16 (WMT, JWN, SKS, URBN, HD)
Tuesday, November 16, 2010 - 4:05am | 212Some of the stocks that may grab the investor focus today are: Wall Street expects Wal-Mart Stores Inc (NYSE: WMT) to report its Q3 EPS at $0.90. WMT shares moved up 0.02% to $53.96 in after-hours trading. Nordstrom Inc (NYSE: JWN) reported about 43% y/y rise in its Q3 net income. The company's...
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Nordstrom Beats Estimates (JWN)
Monday, November 15, 2010 - 5:25pm | 145Nordstrom Inc. (NYSE: JWN) released financial results on Monday after the market closed that just beat Wall Street estimates. Nordstrom Inc announced that its 3rd quarter net earnings climbed 42.6% to $119 million, or 53 cents per share, from $83 million, or 38 cents per share, a year earlier. The...