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On Deck Wednesday

Target, Deere and Limited Brands are set to release earnings. Plus consumer price data and the latest FOMC minutes.


The Fly On The Wall What's In The News: April 22, 2010

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Reply Reply to All Forward Move Delete Close Fw: The 7:00 AM Market Snapshot for 04/22 Christie Duffy Sent: Thursday, April 22, 2010 7:25 AM To: Timothy Tracy; Mathieu Lloyd; Rory Dubbs Good Morning. It's Thursday, April 22, 2010. At this hour, US equity futures are trading lower. Overseas, the Asian markets were mixed, while the European markets were down. Today's UPGRADES include: Chipotle Mexican Grill (CMG) upgraded to Buy from Hold at Jefferies... Online Resources (ORCC) upgraded to Buy from Neutral at Janney Montgomery..

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RINO International - Highest Short Interest in the Street

Remember the Copenhagen climate conference last December? China has committed to the "binding goal", written into China's social and economic development plans, to lower its carbon dioxide emissions per unit of GDP by 40 to 45% by 2020 compared to the 2005 level.

Target Drives Consumer Discretionaries Ahead of Market

Target shares are getting a lift after the company reported solid same-store-sales for March and the fact that it raised its earnings per share guidance for the quarter ending in April. Target now puts first-quarter EPS roughly 10 cents above the Street’s current estimate of 74 cents a share. Target shares are up 7.3% since the end of February, versus 2.5% for arch rival Wal-Mart.

Retailers Better Than Expected

Despite severe weather across much of the country in February, shoppers still made it to the malls as nearly three out of every four retailers have reported better-than-expected same-store sales.

Earnings Roundup: Target, Macy’s, Home Depot and More

Yes, we continue to be pounded by the unrelenting waves of earnings reports. And while most notables have already reported, Tuesday is still a pretty lively day for retail results. Here’s some quick hits and links to the full wires stories.

Goldman Downgrades Target to Neutral, Citing Wal-Mart Worries

Target’s tepid fourth-quarter outlook and its unfortunate proximity to Wal-Mart in the U.S. retail scene prompted Goldman Sachs retail analysts to downgrade the stock from “conviction buy” to neutral today. Goldman’s Adrianne Shapira writes:

While recovering discretionary sales remain in place (despite a soft start to November), gross margin upside could be tempered, given a more aggressive Wal-Mart, expenses are coming in above our prior expectations, and credit delinquencies are likely to tick higher, given current delinquency trends.

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