Seeking Alpha
  • Friday, August 22, 2014

  • 5:59 PM
    • In addition to hiking its dividend, Towers Watson (NYSE:TW) has launched a $300M buyback, good for repurchasing nearly 4% of shares at current levels.
    • TW had $850M in cash to finance buybacks with at the end of June.
    • Shares +1% AH.
    | Comment!
  • 5:16 PM
    • John Thaler's JAT Capital has raised its stake in Madison Square Garden (NASDAQ:MSG) to 4.28M shares (6.7%). In its 13D, JAT says it "may seek to engage" MSG's board to "provide recommendations on ways to achieve long-term value."
    • MSG +1.9% AH to a new 52-week high. Shares have been buoyed by Steve Ballmer's $2B purchase of the Clippers, and its potential implications for the value of the Knicks.
    | Comment!
  • 3:14 PM
    • The FCC has asked Comcast (CMCSA -0.3%) for a variety of information in relation to the company's proposed takeover of Time Warner Cable (TWC -0.2%), including some that delve into the company's Internet and content delivery policies.
    • One key question posed to Comcast by the agency is whether or not it slows down the delivery of programming from rivals.
    | 1 Comment
  • 2:40 PM
    • Wolfe Research has an interesting observation on American Airlines Group (AAL +1.1%) that could give investors a reason to buy the stock.
    • Analysts with the boutique investment note that the 2015 consensus EPS estimates on American, which feel "light" to them for starters, have risen faster this year than the carrier's stock price, 63% vs. 56%.
    • The differential is the biggest that Wolfe found in the sector.
  • 2:21 PM
    • A database failure has impacted all 8.2K Walgreen (WAG) pharmacy locations.
    • About half of the company's stores can't fill prescriptions, according to a spokesperson.
    • A fix to the system is expected sometime this afternoon. Updated 4:41 p.m.: The company reportedly restored systems at all locations by 2 p.m. EDT.
    • Walgreen fills prescriptions at a rate of over 2.1M a day.
  • 1:41 PM
    • Nordstrom (JWN +0.6%) announces it completed the acquisition of Trunk Club.
    • The new property gives Nordstrom an entry into the men's personalized clothing service business - a sub-sector that some retail watchers have warned is getting too crowded.
    | Comment!
  • 1:36 PM
    • CBS Outdoor (CBSO -1.5%) slips lower after Barrington downgrades the company to Market Perform from Outperform on a valuation call.
    • Shares of CBSO are up 14.4% since spinnning off from CBS in an IPO in March.
    | Comment!
  • 1:06 PM
    • Shares of Coffee Holdings (JVA +7.5%) are getting a jolt off the news that Keurig will distribute Kraft coffee brands for its brewing machines.
    • Coffee Holdings sells both private-label and branded coffee which compete with Kraft's products.
    | 1 Comment
  • 12:51 PM
    • Toyota (TM -1.4%) announces it will spend $100M to boost capacity at a plant in Indiana.
    • The investment will help the facility roll out an extra 30K Highlander crossover vehicles a year.
    • Sales of the model are up 18% YTD.
    | Comment!
  • 11:42 AM
    • Family Dollar (FDO +0.4%) is open to taking Dollar General's (DG +0.5%) $9B offer for the company if it agrees to divest enough stores in the combination to appease regulators, sources tell Bloomberg.
    • The company doesn't think Dollar General's current proposal to shed 700 stores goes far enough.
    • Shares of Dollar Tree (DLTR +0.1%) are on watch as the drama unfolds.
    | 1 Comment
  • 11:12 AM
    • Deswell Industries (NASDAQ:DSWL): Q1 EPS of $0 vs. -$0.11 in Q113.
    • Revenue of $8.9M (-19.8% Y/Y).
    • Press Release
    | Comment!
  • 10:31 AM
    • Hibbett Sports (HIBB) saw a higher level of expenses cut into profits during Q2.
    • Comparable-store sale rose 0.1% during the period.
    • Gross profit rate -110 bps to 33.2%.
    • SG&A expense ratio +60 bps to 24.0%.
    • Guidance: FY15 EPS of $2.63-$2.73 expected vs. $2.68 consensus.
    | Comment!
  • 10:17 AM
    • Under Armour (UA +0.4%) has offered Oklahoma City All-Star Kevin Durant a 10-year basketball shoe contract worth between $265M and $285M, according to an EPSN report from earlier this week.
    • Though Nike (NKE +0.4%) has had Durant under contract since 2007, the company is expected to let Durant go with Under Armour seen as paying a hefty premium just to gain some instant basketball shoe credibility.
    • The Oregon sports juggernaut has another pretty solid reason to pass on matching Under Armour's offer with its Air Jordan brand still remarkably strong at 30.
  • 10:03 AM
    • McDonald's (MCD +0.3%) names Mike Andres as its new top executive in the U.S. to replace Jeff Stratton who will resign in October.
    • Andres worked his way up at the Golden Arches after starting as a store manager.
    • McDonald's has lost market share in the U.S. this year with fast-food peers putting up stronger comps.
  • 9:58 AM
    • Shares of Inter Parfums (IPAR +3.4%) are on the move after Citi upgrades the stock to a Buy rating from Neutral and sets a $33 price target.
    • The investment firm likes valuation at current levels.
    | Comment!
  • 9:41 AM
    • Keurig Green Mountain (GMCR +8.5%) and Kraft Foods Group (KRFT +0.3%) sign a new licensing deal which will see Kraft-branded packs sold for Keurig commercial and consumer coffee brewing systems in the U.S.
    • Distribution will begin this fall.
    • Financial terms of the arrangement weren't disclosed.
    • What to watch: The deal is a bit of a coup for Keurig with Kraft selling unlicensed K-cup packets previously.
  • 9:24 AM
    • Investment firms weigh in on Gap (NYSE:GPS) following the retailer's Q2 report.
    • Sterne Agee liked what it saw, reiterating its Buy rating and taking its price target to $50,
    • Canaccord Genuity highlighted the potential for Gap to see long-term margin gains.
    • Janney Capital upgrades the retailer to Buy from Neutral on the promise that omni-channel will drive sales growth.
    • GPS +2.8% premarket
    | Comment!
  • 9:05 AM
    • The Fresh Market (NASDAQ:TFM) trades higher after recording a slim earnings beat with its FQ2 report.
    • Though higher costs dragged down the company's profit compared to a year ago, its plan to open more stores in the Southeast and reaffirmed guidance is helping to boost sentiment.
    • TFM +6.7% premarket
    | Comment!
  • 8:46 AM
    • Kraft Foods Group (NASDAQ:KRFT) continues to try to revive its Jell-O brand as sales growth remains subdued.
    • After trying to market a healthier sugar-free Jello-O variety, Kraft is back to highlighting the traditional family angle.
    • Sales of Jell-O in the U.S. are down 19.2% since 2009.
    • Inside the lunchbox: Analysts think the growth of yogurt and protein bars has crowded out Jell-O.
    | 1 Comment
  • 8:38 AM
    • Wynn Macau (NASDAQ:WYNN) doubles its estimate for design work for the renovation of the Wynn Macau and construction of the Wynn Palace.
    • The company now sees spending 156M HKD ($20.1M).
    • Though the amount isn't a back-breaking tally for Wynn Macau, analysts have been keeping a closer eye on capex spending at the casino operator.
    | Comment!
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