UBS Cuts Price Target on Macy's (M) to $33 Following 1Q Report

Northcoast Research Downgrades Macy's (M) to Neutral

May 12, 2016 8:05 AM EDT

Northcoast Research downgraded Macy's (NYSE: M) from Buy to Neutral.

For an analyst ratings summary and ratings history on Macy's click here. For more ratings news on Macy's click here.

Shares of Macy's closed at $31.38 yesterday.

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Wall Street mixed as Apple tumbles to two-year low

May 12, 2016 7:42 AM EDT

By Noel Randewich

(Reuters) - U.S. stocks ended mixed on Thursday, with gains in telecommunications and consumer staples helping make up for a tumble in Apple to a two-year low.

The S&P 500 and Dow Jones swerved between gains and losses before ending virtually flat. Up 0.90 percent, Microsoft was the largest upward force in the S&P 500.

Apple Inc (NASDAQ: AAPL), a mainstay in many portfolios, was the heaviest drag on the three major indexes, slumping 2.35 percent to $90.34, its lowest since June 2014, as worries festered about... More

Macys (M): Beginning of the End or Beginning of the Recovery?

May 12, 2016 6:39 AM EDT

Cowen analyst, Oliver Chen, thinks this is a setup for a Macy's (NYSE: M) comeback. 1Q comps miss and FY16 guidance cut show M needs to figure out how to drive sustainable store traffic which means becoming a place with a powerful POV that excites a new generation of shoppers. Macys should evaluate installing Gen. Z... More

Apple slide drags on Wall Street; yen weakens

May 11, 2016 8:34 PM EDT

By Lewis Krauskopf

NEW YORK (Reuters) - The yen lost ground against the U.S. dollar on Thursday amid speculation Japan could expand its monetary stimulus soon, while a drop in Apple shares dragged the Nasdaq lower in a volatile trading day.

Oil prices settled higher after a roller-coaster session that saw U.S. crude touch a six-month high. U.S. Treasury prices fell after comments from a Federal Reserve official suggested interest rates could rise faster than some investors expect.

Major U.S. stock indexes closed mixed. The Dow Jones industrial average rose 9.38 points, or... More

Notable 52-Week Highs and Lows 5/11: (FOSL) (ASFI) (ALB) High; (CJES) (PTX) (M) Low

May 11, 2016 3:31 PM EDT

52-Week High:MGT Capital Investments, Inc. (NYSE: MGT) $1.08. MGT Capital Investments surging for a second session on Wednesday after announcing Monday that it entered into a definitive asset purchase agreement to acquire certain technology and assets from D-Vasive Inc., a provider of leading edge anti-spy software. D-Vasive offers a powerful tool for protection from the proliferation of invasive apps by consumer products companies, social networks, financial institutions and others. MGT also announced the proposed appointment of John McAfee as Executive Chairman and... More

Macy's forecast helps trigger sell-off in U.S. retailers

May 11, 2016 2:15 PM EDT

By Caroline Valetkevitch

NEW YORK (Reuters) - Investors heavily discounted U.S. retailers on Wednesday after a series of disappointments in the sector, including a weak forecast from Macy's Inc (NYSE: M).

Macy's stock dropped 15.2 percent to $31.38, the lowest since December 2011, after the company posted a much bigger-than-expected drop in quarterly sales and slashed its full-year forecast.

The stock helped lead a 1.9 percent decline in the S&P 500 retail index .

The selling quickly spread in the sector as the outlook for brick-and-mortar retailers weakened. Shares of Fossil Group (NASDAQ:... More

Stifel Affirms Macy's (M) at 'Hold' Following Q1 Results, Outlook; See Potential for GM Expansion in 2017

May 11, 2016 2:12 PM EDT

Stifel affirms its Hold rating on Macy's (NYSE: M) following Q1 results and trimmed outlook issued Wednesday morning.

Analyst Richard Jaffe commented, While the company continues to tightly manage its costs and gross margin, driving sales remains an ongoing challenge. With weak comps anticipated to continue and limited visibility for... More

Macy's forecast cut adds to apparel gloom; shares dive

May 11, 2016 1:00 PM EDT

By Sruthi Ramakrishnan

(Reuters) - Macy's Inc (NYSE: M) reported a much bigger-than-expected drop in quarterly sales and slashed its full-year forecast, underscoring U.S. department stores' uphill struggle against slumping demand for apparel.

The dismal forecast from the retailer pushed its shares down nearly 14 percent to a more than 4-year low, and also weighed on shares of rivals on Wednesday.

Macy's forecast cut reflects increased pessimism on the consumer's willingness to shop for apparel and accessories over the balance of the year, Deutsche Bank analyst Paul Trussell wrote in a note.

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Cowen Expects Amazon (AMZN) to Overtake Macy's (M) as #1 U.S. Apparel Retailer by 2017

May 11, 2016 1:00 PM EDT

Cowen and Company affirms Amazon.com (Nasdaq: AMZN) at Outperform with a price atrget of $830 and becomes more bullish on the company today following Macy's (NYSE: M)... More

Pre-Open Stock Movers 05/11: (SQBG) (CSIQ) (EA) Higher; (ODP) (FOSL) (CJES) (SPLS) (DIS) Lower (more...)

May 11, 2016 9:28 AM EDT

Today's Pre-Open Stock Movers:

Office Depot, Inc. (NASDAQ: ODP) 35% LOWER; merger with Stales (NASDAQ: SPLS) terminated after negative court ruling.

Fossil Group (NASDAQ: FOSL) 32.9% LOWER; reported Q1 EPS of $0.12, $0.03 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $659.8 million versus the consensus estimate of $666.6 million. GUIDANCE: Fossil Group sees FY2016 EPS of $1.80-$2.80, versus the consensus of... More

Macy's (M) Raises Quarterly Dividend 4.9% to $0.3775; 4.1% Yield

May 11, 2016 8:09 AM EDT

Macy's (NYSE: M) declared a quarterly dividend of $0.3775 per share, or $1.51 annualized. This is a 4.9% increase from the prior dividend of $0.36.

The dividend will be payable on July 1, 2016, to stockholders of record on June 15, 2016, with an ex-dividend date of June 13,... More

UPDATE: Macy's (M) Tops Q1 EPS by 3c; Cuts FY16 EPS Outlook

May 11, 2016 8:02 AM EDT

(Updated - May 11, 2016 8:04 AM EDT)

Macy's (NYSE: M) reported Q1 EPS of $0.40, $0.03 better than the analyst estimate of $0.37. Revenue was $5.77 billion, versus the consensus at $5.93 billion.

Comparable sales on an owned plus licensed basis were down by 5.6 percent in the first quarter. On an owned basis, first quarter comparable sales declined by 6.1 percent.

Plan for Near-Term Improvement

The company outlined three areas of action... More

Wall Street slumps as Disney and Macy's slam consumer shares

May 11, 2016 7:38 AM EDT

By Noel Randewich

(Reuters) - U.S. stocks dropped on Wednesday and the Dow Jones industrial average suffered its worst day since February as feeble quarterly reports from Walt Disney, Macy's and Fossil undermined confidence across the consumer sector.

The consumer discretionary index fell 1.98 percent, notching its worst day in three months, with all but three of its 88 components losing ground.

The biggest drag on the Dow, Disney (NYSE: DIS) dropped 4.04 percent after it posted a rare earnings miss.

Department store Macy's (NYSE:... More

Early pre-open market-options summary

May 11, 2016 7:01 AM EDT

Globex S&P futures are recently down 4.50 from previous days SPX cash close as the dollar pulls back from a two-week high. Nikkei 225 up 0.08%, Hang Seng down 0.89%, DAX down 0.62%. WTI Crude oil is recently at $44.31, natural gas up 0.09%, gold at $1274 an ounce, copper up 1.58%.

Stocks and options... More

Corporate results weigh on shares; oil rallies

May 10, 2016 8:53 PM EDT

By Lewis Krauskopf

NEW YORK (Reuters) - U.S. and European stocks retreated on Wednesday amid disappointing corporate earnings, while oil prices surged for a second day as data showed U.S. crude inventories fell unexpectedly last week.

The U.S. dollar fell 0.5 percent against a basket of currencies after rallying for six consecutive days, as investors looked to book profits. The yen rebounded 0.7 percent against the dollar , halting declines against the greenback as Japan has threatened to intervene on its currency.

U.S. Treasuries extended their price gains after a strong government auction of $23 billion... More

Trading Radar for 5/11: Macy's (M), Sina (SINA), CA Tech (CA), Canadian Solar (CSIQ), Weibo (WB) Report

May 10, 2016 2:12 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:

Abraxas Petroleum (Nasdaq: AXAS) - consensus loss $0.02
Baldwin Technology Co. Inc. (NYSE: BLD) - consensus EPS $0.16
Bovie Medical (NYSE: BVX) - consensus loss... More