|Bid||16.01 x 3200|
|Ask||16.04 x 3100|
|Day's Range||15.90 - 16.42|
|52 Week Range||15.80 - 39.00|
|Beta (3Y Monthly)||0.52|
|PE Ratio (TTM)||4.86|
|Forward Dividend & Yield||1.51 (9.34%)|
|1y Target Est||N/A|
The stock market fell in volatile fashion amid China trade news and the first inverted yield curve since 2007. Walmart, Cisco, Macy's, GE were big movers.
What shape is the consumer in? Were Macy's Inc (NYSE: M) poor earnings report indicative of the retail environment or should investors look instead at Walmart Inc (NYSE: WMT)? Walmart is a "great barometer" to gauge the state of the consumer, Oppenheimer analyst Brian Nagel said Friday on CNBC's "Squawk Box" segment.
Macy's, Dillard's, and J. C. Penney posted bearish second quarter results that signal the resumption of the group's historic downtrend.
Cincinnati-based department store giant Macy's Inc. is piloting new types of retailing in some of its stores with the aim of drawing in more customers in a challenging retail environment.
J. C. Penney's (JCP) Q2 performance is adversely impacted by weak comps. To improve matters, the company announces partnership with thredUP.
Macy's M share price dropped after the company reported second-quarter results and reduced its outlook for the rest of the year. As we forecast Macy's 2019 free cash flow at more than $1 billion, we think its annual dividend cost of less than $500 million is manageable. Macy's 0.2% growth in comparable sales on an owned basis in the second quarter came in below our forecast of 0.5%.
The inverted yield curve sparks recession worries. Macy's (M) and Walmart (WMT) earnings diverge. A Nvidia (NVDA) earnings preview. And why Hasbro (HAS) is a Zacks Rank 1 (Strong Buy) stock, all on today's episode of Free Lunch here at Zacks...
Macy's reported second-quarter results, which expanded its total core retail operations losses to $70 million for the first half of 2019, Greenberger wrote in a note. During Macy's conference call management detailed new initiatives, including a new ThredUp pilot (fashion resale marketplace) and a subscription service at Bloomingdale's that can eventually be expanded to the core Macy's store.
The magic seems to have abandoned Macy’s, as the stock is down for a second day following the department store’s disappointing second-quarter results, and analysts are skeptical.
Macy's dire earnings report paints a negative picture. But don't confuse Macy's problems with the rest of retail. Some S&P; 500 retailers are growing revenue share.
U.S. stock futures are clawing their way higher after yesterday's beatdown.Source: Shutterstock Ahead of the bell, futures on the Dow Jones Industrial Average are up 0.65%, and S&P 500 futures are higher by 0.66%. Nasdaq-100 futures have added 0.73%.Yesterday's panic in the options pit resulted in eye-popping activity. Put trading rocketed to the moon with 27.6 million contracts traded. Calls were left in the dust but still saw above-average volume at 23 million contracts for the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSimilar action at the CBOE drove the single-session equity put/call volume ratio rose to 0.84 -- its second-highest reading of the year. The 10-day moving average jumped to a new high for 2019 at 0.76.Options traders zeroed in on earnings reports yesterday. Macy's (NYSE:M) plunged on terrible results and Cisco (NASDAQ:CSCO) is aiming for a large down gap after a sad showing of its own. Elsewhere, Bank of America (NYSE:BAC) saw heavy options trading during yesterday's swoon.Let's take a closer look: Macy's (M)Macy's shares plunged 13% yesterday after delivering yet another disappointing earnings report. The dismal data weighed heavily on the entire retail sector driving the S&P Retail ETF (NYSEARCA:XRT) down just under 4% on the session. * 15 Growth Stocks to Buy for the Long Haul For the second quarter, the Cincinnati, Ohio-based department store saw earnings per share down over 50% year-over-year to 28 cents. Revenue came in at $5.55 billion. Both measures missed analyst forecasts, and the ire of disgruntled traders was on full display.M stock is now down 77% from its 2015 peak. Its price trend is bearish with descending moving averages across the board. Any time signs of a bottom emerge, an earnings announcement inevitably arrives to upend everything. Heed the message of the chart and steer clear of bullish plays.On the options trading front, calls outpaced puts on the day. Activity swelled to 830% of the average daily volume, with 190,069 total contracts traded. Calls claimed 57% of the session's sum.Implied volatility remains lofty, despite a small post-earnings volatility crush. At 51% it sits at the 70th percentile of its one-year range. Premiums are pricing in daily moves of 54 cents or 3.2%. Cisco (CSCO)Cisco Systems shares fell 7% after hours following an underwhelming earnings report of its own. Weakness in China was partly to blame for the company's disappointing forward guidance. For its fiscal fourth quarter, the technology giant posted earnings of $3.6 billion, or 83 cents a share, on revenue of $13.43 billion. Both measures topped analyst estimates, but investors found the company's forecasts worrisome.With this morning's drop, CSCO stock will open just under $47, well below its 200-day moving average. The sucker punch is giving back much of this year's gains and places Cisco deep into correction territory. Until the trend turns, rallies are suspect, and sellers hold the upper hand.On the options trading front, traders favored calls ahead of the report. Total activity jumped to 572% of the average daily volume, with 214,998 contracts traded; 73% of the trading came from call options alone.The options board was pricing in a move of $2.76 or 5.5%, so this morning's 7% plunge exceeds expectations and will deliver profits to long volatility strategies like straddles and strangles. Bank of America (BAC)The specter of a recession continues to hamper bank stocks. An inverted yield curve and plunging bond yields create a toxic backdrop for stocks like Bank of America. Its shares fell to a seven-month low amid massive distribution on Wednesday. Its peak-to-trough drawdown is now -15%, and BAC stock is on the verge of breaching a key support zone. * 7 5G Stocks to Buy Now for the Future While the stock is becoming desperately oversold in the short run, future bounces are born to be sold. There's simply too much overhead resistance at this point to comfortably bet on buyers.On the options trading front, calls proved more popular than puts despite the nasty price puke. Total activity popped to 251% of the average daily volume, with 640,676 contracts traded.The increased demand drove implied volatility up to 35%, pushing to the 54th percentile of its one-year range. Premiums now bake in daily moves of 59 cents or 2.2%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks Under $5 to Buy for Fall * 5 Stocks to Avoid Amid the Ongoing Trade War * 7 5G Stocks to Buy Now for the Future The post Thursday's Vital Data: Macy's, Cisco and Bank of America appeared first on InvestorPlace.
The company attributed part of its poor performance to heightened inventory and few tourists spending money at its flagship New York City store, Cramer said. Looking at Macy's performance, one may not be faulted for assuming it's foreshadowing a retail meltdown and an economic slowdown, Cramer said. "Rather than buying clothes directly from Macy's, the consumer waits for them to offload their excess inventory to TJX or Burlington Stores at a huge discount and then picks up the same stuff for a fraction of the price," Cramer said.
Yahoo Finance Editor-at-Large Brian Sozzi joins The Final Round to discuss Walmart, whose better-than-expected second-quarter earnings prompted shares to soar in Thursday's trading session.