Piper Jaffray Cuts Price target on Conn's (CONN) to $37 Following 2Q and Announced Portfolio Securitization

Market Wrap: Apple Debuts New iPhones and More; China Eyes Additional Stimulus; Major Logistics M&A Deal Announced

September 9, 2015 5:34 PM EDT

Market wrap for September 9th

End of the Day: S&P 500 down 27.4 to 1,942.04; Dow Jones down 239.1 to 16,253.57; Nasdaq down 55.4 to 4,756.53

Market Brief: U.S. markets rose early Wednesday, but gains were lost as the afternoon progress. Early positivity came from expectations that China would implement a new round of stimulus measures soon. China's Ministry of Finance said it was looking to implement of "more forceful" fiscal policy.

Apple unveiled the next version of its smartphone line with the introduction of the... More

Pre-Open Stock Movers 09/09: (AKBA) (VTAE) (CONN) Higher; (ZQK) (TTPH) (FLXN) Lower (more...)

September 9, 2015 9:30 AM EDT

Quicksilver (NYSE: ZQK) 80% LOWER; Files bankruptcy

Tetraphase Pharma (NASDAQ: TTPH) 79.5% LOWER; announced that the IGNITE2 phase 3 clinical trial of eravacycline administered as an IV to oral transition therapy for the treatment of complicated urinary tract infections (cUTI) did not achieve its primary endpoint of... More

Conn's (CONN) Appoints New CEO, President

September 9, 2015 6:04 AM EDT

Conn's (NASDAQ: CONN) announced that its Board of Directors, implementing a long-planned leadership succession, has appointed Norman Miller to serve as the Companys new Chief Executive Officer and President, effective September 7, 2015. Mr. Miller will also be elected to the Board of Directors.

Mr. Miller brings over 30 years of transformational business leadership experience to Conns, including serving as President of Sears Automotive and as President and Chief Operating Officer of DFC Global Corporation. He also has held progressive management and leadership roles at ARAMARK, Nestle, Kraft and Pepsi. Mr. Miller brings a unique... More

Conn's (CONN) Misses Q2 EPS by 2c; Updates on Strategic Initiatives; Approves $75M Common Stock Buyback

September 9, 2015 6:04 AM EDT

Conn's (NASDAQ: CONN) reported Q2 EPS of $0.45, $0.02 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $396.1 million versus the consensus estimate of $396.38 million.

Same store sales for the quarter increased 6.7%, excluding the impact of the Company's decision to exit video game products, digital cameras, and certain tablets.

Conn's announced that, following a thorough exploration of strategic alternatives to enhance shareholder value, it has completed a strategic repositioning of its business and implemented a long-planned leadership succession.

Strategic Initiatives

In separate press releases issued today, Conns... More

Trading Radar for 9/9: Palo Alto Networks (PANW), Barnes & Noble (BKS), HD Supply (HDS), Krispy Kreme (KKD), Phibro (PAHC) Report

September 8, 2015 2:07 PM EDT

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Economics:
7:00am EDT

MBA Mortgage Index - no Street consensus

Earnings:

Barnes & Noble (NYSE: BKS) - consensus EPS $0.12
Barnes & Noble Education, Inc. (NYSE: BNED) - consensus loss... More