|Bid||35.8500 x 1100|
|Ask||35.8800 x 800|
|Day's Range||35.90 - 36.18|
|52 Week Range||17.41 - 41.99|
|PE Ratio (TTM)||6.91|
|Earnings Date||Nov 14, 2018|
|Forward Dividend & Yield||1.51 (3.79%)|
|1y Target Est||36.23|
Gerald Storch, Storch Advisors CEO and former Toys R Us CEO, discusses the transition and rebound in the retail sector as Walmart's quarterly earnings come in strong. CNBC's Courtney Reagan also weighs in.
Mary Epner, Mary Epner Retail Analysis founder and principal, joins the 'Squawk Box' team to discuss the retail industry selloff and what to expect for J.C. Pennney's earnings.
Nordstrom (JWN) brought some relief for department store investors with its strong sales growth numbers after Macy’s (M) and JCPenney (JCP) disappointed investors with lower sales. Nordstrom beat analysts’ revenue and earnings expectations and also raised the guidance for fiscal 2018. Nordstrom stock soared 9.0% in after-hours trading on August 16.
The ratings on six P&I classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. Moody's rating action reflects a base expected loss of 4.5% of the current pooled balance. Moody's base expected loss plus realized losses is now 4.4% of the original pooled balance.
Macy’s reported an earnings beat but says changes to the calendar impacted same-store sales in the second quarter.
Cincinnati-based Macy's Inc. stock got hammered following what by all accounts appeared to be positive news as it reported its second-quarter earnings on Aug. 15. So what was behind the drop?
The iconic department store chain is still floundering. It desperately needs a new CEO who can bring fresh thinking to the business.
Macy’s Inc. ( M) stock has been plunging despite posting second-quarter results that surpassed Wall Street views, but at least one market strategist sees weakness as a buying opportunity. On Wednesday, the stock finished the regular trading session down more than 14% on the back of its quarterly earnings report. While investors are reacting to what CNBC said was disappointment over flat sales and concerns that margins will be pressured by increased spending, Lindsey Bell, an investment strategist at CFRA Research, remains in the bullish camp.
JCPenney (JCP) stock fell more than 19% in pre-market hours on August 16. The stock fell 23.0% as of 10:24 AM EST. The company posted disappointing results for the second fiscal quarter. JCPenney also lowered its outlook for fiscal 2018. JCPenney’s second fiscal quarter revenues (retail net sales and credit income) declined 7.8% to $2.83 billion, which lagged analysts’ estimate of $2.86 billion. The company’s net sales fell 7.5% to $2.76 billion.
WMT easily beat Wall Street analysts’ earnings estimates and reported a 40 percent rise in online sales during the most recent quarter. The huge retailer’s results might be another indication of a healthy U.S. consumer, and shares leaped more than 10 percent before the opening bell. U.S. same-store sales rose 4.5 percent, above forecasts for 2.3 percent.
J.C. Penney (JCP) is down more than 20% on Thursday morning on a big miss and guidance reduction. J.C. Penney missed expectations and lowered guidance. Where we're headed: Get in loser, we're buying Kohl's. Shares of Macy's (M) crumbled on Wednesday after the company reported second-quarter earnings: It was a beat-and-raise quarter, not that you'd know it from looking at the shares' reaction, which had their worst day in more than a year.
Most retailers’ shares were pushed into the red on August 15 despite an upbeat retail sales report from the National Retail Federation.
U.S. stock futures are rebounding this morning on easing global tensions. Stocks are rebounding on the promise of resumed U.S./China trade talks and a $15 billion investment in Turkey by Qatar. Strong quarterly reports from Walmart (NYSE:WMT) and Cisco Systems (NASDAQ:CSCO) are also helping boost sentiment.
Chipotle Mexican Grill (NYSE:CMG) advanced more than 6% following a big upgrade from Morgan Stanley. As Thursday’s action gets going, AT&T (NYSE:T), Hormel Foods (NYSE:HRL) and International Paper (NYSE:IP) are shaping up as the top trading bets.
If you're not buying into today's market weakness, then you're missing a terrific opportunity, Jim Cramer told his Mad Money viewers Wednesday, as he listed the reasons the market was worried and all the reasons why the market was wrong. Cramer said while Turkey continues to make headlines, the fact is that Turkey's problems are man-made and fairly easy to solve. European banks have lent money to Turkey and will be on the hook for loses, he said, but the effect on U.S. banks is almost nil.
Macy’s, the once-doomed department store, posted its third consecutive quarter of same-store sales growth. The numbers couldn’t be rosier, but the stock plunged by 16% Wednesday for its largest percentage decrease since last May, when investors believed department stores were headed toward extinction. Before reporting second-quarter earnings Wednesday morning, Macy’s stock was up 47% so far this year and 84% since the same time last year.
Macy’s Inc. has been investing in stores and upgrading its online operations, but its efforts haven’t been enough to overcome an inconvenient fact: It is still a department store. On Wednesday the company reported second-quarter results that as one analyst said “checked all the boxes,” yet its share price tumbled 16% in response. “I’m not a believer that Macy’s is a long-term winner in retailing,” said Paul Lejuez, a Citi analyst.
You get that event. You get that sell-off, the one that breeds fear And I always say, let it come in, let it come to you. Don't reach. It's coming your way. I know that's not what you want to hear on a big down day.
Jim Cramer said Wednesday's sell-off isn't as "special as it seems" because the root causes like Turkey and Macy's shouldn't be a long-term concern for investors. The relationship between Europe and China means that Europe's sell-off carried over to China because of Turkey, adding to the country's problems related to its slowing economy, the trade conflict and its regulation of Tencent. The Mad Money host also warned investors looking to buy during the sell-off to stick to high-flying stocks like Amazon and Facebook at a discount.
Stocks took a tumble on Wednesday, as investors worried that troubles in China and Turkey could spread to other emerging markets and slow global growth amid ongoing trade tensions. Wells Fargo's Jay Bryson writes that Turkey’s foreign currency-denominated debt has led to selling pressure on other EM assets, and even stronger emerging economies may not be enough to calm investor fears about the fact that these countries' debt has more than doubled since 1997, from $2 trillion to more than $5 trillion today.
By ratcheting up U.S. interest rates, the Federal Reserve has — unintentionally — led investors to pull money out of emerging markets like Turkey, strengthened the dollar's value and made it harder for foreign companies to repay their dollar-denominated debts. ANKARA, Turkey (AP) -- Turkey is increasing tariffs on imports of certain U.S. products, escalating a feud with the United States that has helped trigger a currency crisis. Turkey said it was imposing extra tariffs on imports of products including rice, vehicles, alcohol, coal and cosmetics.
Shares of Macy's (M) fell a significant 16% for the day after reporting its earnings Wednesday before the bell. Here's why investors might be selling the stock despite its earnings beat.
On a losing day for the market, Constellation Brands announced a big investment in marijuana company Canopy Growth, and Macy's fell despite beating expectations.