Seeking Alpha
  • Today - Tuesday, May 5, 2015

  • 2:56 PM
    | Comment!
  • 2:32 PM
    • Hyundai (OTC:HYMLF) names Hyung Cheong to be its top exec in Europe.
    • Cheong was working on the U.S. side of the business for the South Korean automaker previously.
    • YTD car registrations for Hyundai in Europe are up 9.7%.
    | Comment!
  • 1:23 PM
    • Gap (NYSE:GPS) is set to open its first store in India on May 30.
    • The company aims to open 40 stores in the next five years.
    • Each store will include men's, women's, kids, and babies lines with no separation by concept.
    | Comment!
  • 12:51 PM
    • Chinese heavyweight automakers Dongfeng (OTCPK:DNFGY, OTCPK:DNFGF) and FAW Group are reported to be in talks on a merger.
    • Both companies have fallen under the eyes of the government amid President Xi Jinping's effort to reel in corruption.
    • A combination of the two automakers would create the 6th largest car manufacturer globally.
    | Comment!
  • 12:13 PM
    • Fomento Económico Mexicano (NYSE:FMX) confirms it has asked for government authorization to sell alcoholic beverages in a small retail format in Texas.
    • The company says it will invest $850M to open 900 stores in the state if regulators clear the plan.
    • The development coincides with Wal-Mart also trying to get clearance to sell alcohol in Texas which has restrictive policies for publicly-traded companies in the beverage category.
    • Costco (NASDAQ:COST) is a step ahead by partnering with Texas-owned WB Liquors, but is also pushing the state for reform.
    • Kroger (NYSE:KR) has also reportedly been making noise about selling liquor in its Texas outlets.
    • Previously: Wal-Mart pushes for right to sell alcohol in Lone Star State (Apr. 27 2015)
    | Comment!
  • 11:47 AM
    • Macy's (M -0.9%) plans to open four discount stores around New York City this fall in a test of a new retail concept.
    • The company, which tipped off in the past it would consider launching a discount brand, spent about six months developing Macy's Backstage.
    • The off-price stores will be about 30K square feet in size.
    • A larger roll-out could provide new competition for the T.J. Maxx and Marshalls chains from TJX Companies (TJX -0.4%).
    | Comment!
  • 11:08 AM
    • JetBlue (JBLU -0.5%) has struck a deal with Cuba Travel Services to add a route connecting JFK Airport to Havana.
    • The carrier plans to use the Airbus A320 for the flights.
    • JetBlue already has charter flights into Cuba from Tampa and Fort Lauderdale.
    | Comment!
  • 10:58 AM
    • Mattress Firm (MFRM -2.5%) trades lower after Piper Jaffray downgrades the stock to a Neutral rating after having it slotted previously at Overweight.
    • Piper sets a price target of $62 on MFRM.
    • Yesterday, Mattress Firm disclosed that CEO Stephen Stagner peeled off a minor amount of shares.
    • SEC Form 4
    | Comment!
  • 10:34 AM
    • Nautilus (NLS +20.6%) pops after blasting past estimates with its Q1 report.
    • The company saw a big jump in margins on a favorable shift in product mix.
    • Operating expenses were up 23% to $36.284M to trail the 34% top-line growth.
    • Direct-to-consumer sales of the Bowflex Max Trainer were strong during the quarter.
    • Previously: Nautilus beats by $0.10, beats on revenue (May. 04 2015)
    | Comment!
  • 10:20 AM
    • Adidas (OTCQX:ADDYY, OTCPK:ADDDF) reports sales rose 9% to €4.083B ($4.556B) in Q1 on a currency-neutral basis.
    • Sales in Europe +11% to €1.143B ($1.276B).
    • Sales in North America +7% to €591M ($659.6M).
    • China was a bigger contributor during the quarter with the region seeing sales growth of 21% to €597M ($666.45M).
    • Reebok sale were up 9% as training and studio products showed strong demand.
    • Net profit came in at 221M ($246M) vs. €234M consensus estimate.
    • Adidas earnings press release (.pdf)
    | Comment!
  • 10:07 AM
    • Texas Roadhouse (TXRH +4.9%) trades higher after a narrow EPS beat with its Q1 report.
    • The company delivered an 8.9% increase in comparable-store sales at company restaurants and an 8.0% gain at franchised outlets.
    • Sales volume helped reduce the impact of commodity inflation, although the restaurant margin rate was still down 20 bps Y/Y to 19.0%.
    • Texas Roadhouse expects to open 25 to 30 restaurants this year.
    | 1 Comment
  • 9:58 AM
    • RevPAR increased 3.8% at Hyatt's (H -1.3%) company-owned and leased hotels in Q1.
    • Systemwide RevPAR was up 4.6% (7.4% ex-currency), led by a strong 8.4% rise for U.S. full service hotels.
    • The lift in sales helped the company boost margin rates in the quarter.
    • Property count +12 Q/Q to 599.
    • The company's net income dropped year-over-year due in part to reduced gains from real estate sales.
    • Previously: Hyatt Hotels misses by $0.08, beats on revenue
    | Comment!
  • 9:52 AM
    • Energizer (ENR +2.2%) organic sales rose 0.3% Y/Y in FQ2.
    • Segment revenue: Personal Care -5.5% to $651.1M; Household Products -4.4% to $356.9M.
    • Gross margin rate: +200 bps to 49.8%.
    • SG&A rate +340 bps to 22.2%.
    | Comment!
  • 9:45 AM
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  • 9:40 AM
    • Jefferies jumps into the coverage universe on Tesla Motors (TSLA +2.6%) with a Buy rating and $350 price target.
    • The investment firm is taking a long view on the company's potential in China, despite a stuttering start in the region by Tesla.
    • A consumer survey leaned on by Jefferies indicates that it's "feasible" for Tesla to sell 500K cars a year by 2020 and dismisses the impact of a possible entry by Google or Apple into the EV segment.
    • The 500K cars a year by 2020 forecast was also pushed out by Panasonic CEO Joe Taylor at CES this year and has been alluded to by Tesla CEO Elon Musk.
    • Jefferies talks batteries: "The company's relentless drive to improve battery energy storage capacity (car range is 3x the typical BEV), longevity, power delivery and performance while lowering cost per kilowatt-hour (the Gigafactory should reduce battery pack cost/kWh by ~30%) results in a key competitive advantage that helps TSLA."
  • 9:34 AM
    • Balchem (NASDAQ:BCPC): Q1 EPS of $0.62 beats by $0.03.
    • Revenue of $144.9M (+68.5% Y/Y) misses by $3M.
    • Shares +5.5%.
    • Press Release
    | Comment!
  • 9:20 AM
    • KapStone Paper and Packaging (NYSE:KS) reports volume fell 1.8% to 661K tons of paper sold.
    • The average selling price during the quarter was down $2 to $683 per ton.
    • Adjusted EBITDA margin -160 bps to 15.8%.
    • Guidance: "I expect to see our operations perform better in the second quarter," stated CEO Roger Stone.
    • Previously: KapStone misses by $0.11, misses on revenue
    • KS -0.1% premarket.
    | Comment!
  • 9:13 AM
    • UFP Technologies (NASDAQ:UFPT): Q1 EPS of $0.23 misses by $0.03.
    • Revenue of $33.98M (-1.8% Y/Y) misses by $0.62M.
    • Press Release
    | Comment!
  • 9:11 AM
    • Avon Products (NYSE:AVP) is having a hard time landing bids for its North American business or the company itself, reports New York Post.
    • Sources tip logical suitor Coty (NYSE:COTY) is more interested in buying the CoverGirl and Max Factor brands from Procter & Gamble (NYSE:PG).
    • Procter & Gamble is in the middle of a broad brand-shedding program.
    • Shares of Coty are up 19.8% YTD compared to the 13% drop in Avon.
    | 1 Comment
  • 9:07 AM
    • Reading International (NASDAQ:RDI): Q1 EPS of $0.13
    • Revenue of $60.56M (+4.3% Y/Y)
    • Press Release
    | Comment!
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