|Bid||1.0000 x 800|
|Ask||1.0100 x 47300|
|Day's Range||1.0000 - 1.0800|
|52 Week Range||0.9200 - 3.1600|
|Beta (3Y Monthly)||1.97|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 14, 2019 - Aug 19, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.42|
NYU professor Scott Galloway blames Amazon for major retailers' woes.
(Bloomberg) -- Oil tumbled as a report of surging U.S. crude and fuels stockpiles dispelled worries of a supply shortage.
The outlook for department stores grew murkier Tuesday after J.C. Penney, Kohl's and Nordstrom reported fiscal first quarter results that reflected their struggles at the start of the year. Penney, which has been trying to turn around its business for several years after a disastrous reinvention plan, reported a wider than expected loss and sales declines during the quarter. Kohl's sales momentum also stalled and it cut its fiscal 2020 profit outlook .
After all, it was only a year ago that Macy’s Inc. and Kohl’s Corp. investors, in particular, were sending shares higher after upbeat holiday and first-quarter performances offered hope they were finding their footing. For one, fresh worries that tariffs could be coming to clothing and shoes from China are fueling pessimism about the department store segment overall. J.C. PENNEY CO.: With this troubled retailer, the greatest alarms are what we didn’t hear on its earnings call.
Same-store sales, a key gauge of retail success, missed projections at both J.C. Penney and Kohl’s, signaling the chains still have their work cut out for them as shoppers’ preferences evolve. Nordstrom, which has stopped reporting comparable sales, recorded a drop in revenue. Both Nordstrom and Kohl’s slashed their full-year outlooks.
Technology companies helped power stocks broadly higher on Wall Street Tuesday, snapping the market's two-day losing streak. The rally followed the U.S. government's decision to temporarily ease off proposed restrictions on technology sales to Chinese companies. The news gave a boost to technology sector stocks, which took steep losses a day earlier when the Trump administration announced curbs on technology sales, aimed primarily at Chinese telecom gear maker Huawei.
The department store operator's first quarter results and its profit forecast for the year fell short of forecasts. The drug developer is suing the U.S. government over a Medicaid drug rebate decision for its Acthar Gel. Crane Co. is offering to buy the industrial pumps and valves maker for about $895 million in cash.
Shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector. U.S. President Donald Trump added Huawei to a trade blacklist last week, leading several companies to suspend business with the world's largest telecom equipment maker, a move that could weigh on their sales. Chipmakers, many of which sell to Huawei, bore the brunt of Monday's sell-off.
Stocks ended higher Tuesday after the Commerce Department eased restrictions on China's Huawei Technologies. missed Wall Street's first-quarter earnings expectations and slashed its 2020 profit guidance as comparable-store sales at the struggling retailer slumped amid a 'slower' start to the year.
The latest on developments in financial markets (all times local): 4:00 p.m. Stocks are closing higher on Wall Street Tuesday as technology companies lead solid gains across the market. Chipmakers rallied ...
U.S. stocks ended solidly higher Tuesday after equity investors were buoyed by Washington's decision to grant a temporary reprieve on restrictions to China telecom giant Huawei Technologies Co.. The S&P 500 climbed 0.9% to finish near 2,864. The Dow Jones Industrial Average advanced 198 points, or 0.8%, to end around 25,877. The Nasdaq Composite climbed 1.1% to finish around 7,786. Equities rebounded from Monday's selloff in technology and chip-maker stocks after U.S. officials said they would give a 90-day exception to an export blacklist against Huawei, which has been in the cross sights of Washington. However, Huawei founder Ren Zhengfei said his company would outmuscle its rivals in 5G in a few years, and that the company was ready for the export ban. In company news, shares of J.C. Penney Co. Inc. fell 7.4% after the department store chain missed analysts' expectations for first-quarter earnings.
U.S. stocks bounced back on Tuesday, with an increasing number of traders talking about choppy market conditions. Without a change in trade-war rhetoric -- either good or bad -- it's hard for the market to gain much momentum in either direction. Let's look at a few top stock trades for Wednesday. Top Stock Trades for Tomorrow 1: TJX Companies Click to EnlargeTJX Companies (NASDAQ:TJX) beat on earnings expectations and raised its outlook. Shares are about flat on the day despite its report, although it's now well off the lows. It doesn't help that the retail sector is mixed following Tuesday's earnings releases.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 5 Data Center REITs to Buy That Deliver Sizable Income For TJX, it's a best-in-breed name that's clinging to its 50-day and 20-day moving average. It's also holding that gap-up level near $52. So long as that remains the case, bulls can stay long TJX.Below and it gets more iffy. If that's the case, see how it handles Tuesday's low and the 200-day moving average. If it fails as support, sub-$50 could be the way. Should TJX can maintain current levels, see if it can rally to resistance near $55 to $56.Momentum and the RSI (blue circles) are starting to move in bulls' favor. Top Stock Trades for Tomorrow 2: Tesla Click to EnlargeWe took a longer-term look at this one last week, but the continued selling pressure in Tesla (NASDAQ:TSLA) is forcing us to take another look. This time, it's after Morgan Stanley analysts give their new opinion on the stock, which includes a "bear case" price target of $10. (Psst…was Apple (NASDAQ:AAPL) thinking about buying Tesla a few years ago? Reportedly, yes!)The stock broke below its downward channel last week, as Tesla dove below $200. However, it's putting together a nice two-day range. I like two-day ranges because it gives both buyers and sellers a level to measure against.Over the two-day high -- currently $207.40 -- and investors can look for TSLA to move higher. Upside targets include the gap fill just over $210, Friday's high at $222.25 and the next gap fill up near $227.50. The middle of those three targets would be a test of prior channel support.Below the two-day low of $195.25 and we can get a break lower if TSLA stock does not reclaim this mark in the session. Top Stock Trades for Tomorrow 3: AutoZone Click to EnlargeAutoZone (NYSE:AZO) beat on earnings and revenue expectations, as shares jumped almost 6% in the session.The $980 level held as support while AZO is now smashing through the 20-day and 50-day moving averages. The RSI and MACD (blue circles) shows there is plenty of room for bulls to run if they can maintain momentum.If AZO can push through $1,040, $1,075 could be the next target. I want to see shares hold $1,000 now. Top Stock Trades for Tomorrow 4: J.C. Penney Click to EnlargeJ.C. Penney (NYSE:JCP) is down about 8% after reporting earnings and flirting with a decline below $1.Shares are also on the cusp of falling below downtrend support. If it does, look for a retest of the December lows. If channel support holds, a rebound up to $1.20 is possible. I am not a big supporter of trading JCP stock, as it's often too volatile and there are almost always better candidates in the market. Top Stock Trades for Tomorrow 5: Nordstrom Click to EnlargeNordstrom (NYSE:JWN) will report earnings on Tuesday after the close, while investors continue to digest retail earnings.$36 has been a decent level of support and JWN has come down big ahead of the print. Its legacy business may struggle, but perhaps Rack can save the overall results. Still, retail isn't getting much love and it's hard to be super bullish into the print. * 7 Stocks to Buy for Over 20% Upside Potential Below $36 could call upon the $32 to $34 range, while a rally could send JWN up to the $40 to $41 level. That's prior channel support and the 20-day moving average. See if this area is reclaimed or if it acts as resistance.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AAPL. Compare Brokers The post 5 Top Stock Trades for Wednesday: JCP, TSLA, TJX appeared first on InvestorPlace.
J.C. Penney (NYSE:JCP) unveiled its latest quarterly earnings results early Tuesday, bringing in a loss that was wider than expected, while its sales also missed the mark, sending JCP stock plummeting.Source: Shutterstock The department store chain -- which is headquartered in Plano, Texas -- said that for its first quarter of its fiscal 2019, it posted a loss of 47 cents per share. This figure was considerably wider than the Wall Street consensus estimate of 38 cents per share.J.C. Penney added that its sales for the period came in at $2.44 billion, which was below the Wall Street guidance of $2.47 billion, according to data from analysts who were surveyed by Bloomberg. Additionally, the company's comparable sales took a hit, sliding 5.5% when compared to its year-ago quarter.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCEO Jill Soltau insisted that the company is in the process of turning things around at the moment. "We have made good progress on each of our immediate action steps highlighted last quarter, including our continued efforts to reduce and enhance our inventory position, which resulted in a 16 % reduction in our inventory and a meaningful improvement in our free cash flow this quarter," she said."As our inventory rationalization effort continues, we are testing a number of strategies around optimal inventory levels and assortment choice counts with a goal of delivering an improved experience for our customers and maximizing our return on investment," Soltau added.JCP stock is down about 8.3% on Tuesday. More From InvestorPlace * 7 Stocks to Buy that Lost 10% Last Week * 7 Stocks to Buy for Over 20% Upside Potential * 7 High-Yield REITs to Buy (Even When the Market Tanks) Compare Brokers The post J.C. Penney Earnings: JCP Stock Sells Off on Disappointing Q1 appeared first on InvestorPlace.
JCPenney Disappoints Again with First-Quarter EarningsSales continued to fall in Q1JCPenney (JCP) delivered yet another quarter of disappointing results when it announced its performance for the first quarter of fiscal 2019 today. The quarter ended
Shares of technology companies helped push Wall Street forward on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector. U.S. President Donald Trump added Huawei to a trade blacklist last week, leading several companies to suspend business with the world's largest telecom equipment maker, a move that could weigh on their sales. Chipmakers, many of which sell to Huawei, bore the brunt of Monday's sell-off.
Nordstrom reports Q1 earnings late Tuesday, after Kohl's reported earnings and guidance well below Wall Street views, while J.C. Penney lost more than expected.
The broader department store industry has been getting hammered over the past 52-weeks, with the industry as a whole being down around 19%. While the department store industry is declining, discount retailers like TJX have been flourishing. With the overall discount industry up 17% and TJX up even more.
Technology stocks fueled a rebound on Wall Street on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies, raising expectations that the two countries would work toward a trade deal. The Philadelphia Semiconductor Index gained 2.09% and was on track to end a three-day slump. Shares of Huawei suppliers such as Intel Corp, Qualcomm Inc, Xilinx Inc and Broadcom Inc rose between 1% and 3.5%.