Seeking Alpha
  • Today - Thursday, September 18, 2014

  • 5:36 PM
    • Western Union (NYSE:WU) is being investigated by the SEC for possible securities fraud after former employees accused the company of misrepresenting the performance of its digital unit.
    • The probe involves the company's public statements in 2011 and 2012 that it planned to increase revenue at Western Union Digital, including and its mobile money-transfer business, to $500M by 2015.
    • WU says it has appropriate controls and procedures in place regarding its financial reporting.
    | Comment!
  • 4:48 PM
    • Dave Barger, JeBlue's (NASDAQ:JBLU) CEO since 2007, will be stepping down on February 16, 2015. He'll be replaced by president Robin Hayes.
    • Hayes, whose current job puts him in charge of JetBlue's operational and commercial activities, will also be taking Barger's spot on JetBlue's board.
    | 1 Comment
  • 4:41 PM
    • Home Depot (NYSE:HD) discloses that information on 56M payments cards was put at risk from the cyber-attack which occurred earlier this year.
    • The data was comprised through advanced malware which entered the Home Depot system back in April.
    • IT security at Home Depot's U.S. stores has been enhanced in response, says the company.
    • Canadian stores, which use EMV technology (smart cards), will see an even higher level of encryption with a new roll-out.
    | 1 Comment
  • 4:22 PM
    • Clorox (NYSE:CLX) announces that it will split the CEO and chairman role at the company.
    • Don Knauss will stay on as executive chairman, while Benno Dorer will be promoted to CEO.
    • Dorer was the COO at Clorox previously.
    | Comment!
  • 4:20 PM
    • Mecox Lane Limited (NASDAQ:MCOX): Q2 EPS of $0.
    • Revenue of $21.8M (flat Y/Y).
    • Press Release
    | Comment!
  • 4:08 PM
    • GNC Holdings (NYSE:GNC) will consider its options after hearing from P-E firms, according to reports.
    • Vitamin Shoppe (NYSE:VSI) is also on the M&A radar with Reuters reporting a group of shareholders are pushing the company to look to sell itself.
    • One rather natural idea that's been bandied around for a while has been a GNC-VSI combination.
    • GNC +0.4% AH after a late-day spike to push shares up above $41. VSI was also a late bloomer on the day off the buzz.
    | 1 Comment
  • 3:29 PM
    • Toyota (NYSE:TM) will recall 20K late-model vehicles due to a potential issue with fuel leaks.
    • The recall includes models from 2014 and 2015 with the 2GR-FE engine.
    • The vehicles were manufactured at Toyota's U.S. plants.
    | Comment!
  • 3:02 PM
    • American Airlines Group (AAL +1.2%) announces it will sell $500M in senior notes with a maturity date of 2019
    • The company says the funds will be used for general corporate purposes.
    • Moody's is in with a B3 rating on the notes.
    | Comment!
  • 2:04 PM
    • Honda (HMC +1.6%) will price its fuel cell vehicle entry close to the same level as Toyota's (TM +1.7%) FCV, according to Nikkei.
    • The vehicle is expected to list at ¥7M-¥8M ($63.9K-$73.1K).
    • Both automakers are expecting substantial subsidies from the Japanese government to incentive consumers.
  • 1:30 PM
    • Bass Pro Shops hires Moelis to help it explore financing options.
    • Sources say a sale of a minority stake, likely to a P-E firm, would value the retailer in the billions.
    • A capital-heavy Bass Pro could pose a threat to Cabela's (CAB -0.8%) and to a lesser extent Dick's Sporting Goods (DKS) if expansion is part of the plan.
    | Comment!
  • 1:12 PM
    • AMC Entertainment (AMC -0.4%) says it will add $38.8M to its capital expenditures this year in order to energize efforts to modernize its theaters.
    • The exhibitor has seen positive early results from theaters with recliner seats and MacGuffins bars.
    • AMC notes that the increased capex spending won't impact its quarterly dividend.
    | Comment!
  • 12:36 PM
    • Kroger (KR -0.1%) is using a store in Ohio to test a new service for customers to pick up orders placed online.
    • The company has leveraged its purchase of Harris Teeter by using some of the technology used by the grocery chain with its online model.
    • Kroger hasn't released details on how a click-and-collect service will be priced, but Harris charges $4.95 per order or $99.95 a year for their service.
    | Comment!
  • 12:20 PM
    • The bull argument of Sears Holdings (SHLD -2.7%) having access to its real estate took a major blow with the $400M loan backed by Eddie Lampert, and secured with 25 locations, says Credit Suisse's Gary Balter, reiterating his Underperform rating and $20 price target.
    • "All of a sudden, as a vendor, one has to ask if cash flow is that tight that ESL needs to lend the money," says Balter. "And why is it taking first dibs on so-called valuable real estate if that was what the vendors had counted on if things further deteriorate?"
    • Balter isn't sure Sears' asset value is greater than the stock price, but he is sure this is not the case if shareholders can't get at those assets. If the assets are worth as much as the bulls say, the best move is to liquidate now as operations are taking more than $10 per share in value away every year.
    • Previously: Sears Holdings lower after Lampert cash infusion
    | Comment!
  • 11:40 AM
    • Hasbro (HAS +0.2%) introduces a 3D printing experience for consumers that will allow the creation of personalized Marvel action figures.
    • The company is introducing the concept on a limited basis at select Wal-Mart and Sam's Club stores.
    • What to watch: 3D printing is a big opportunity for toy companies both on the product and licensing sides. Monetizing demand for personalized toys is viewed as a potential growth channel.
  • 11:28 AM
    • PepsiCo (PEP +0.4%) CEO Indra Nooyi publicly criticizes the NFL for its handling of recent scandals.
    • The company paid a huge sum to displace Coca-Cola as the official soft drink of the league a few years ago and has prominent product placement with Gatorade distributed on sidelines at NFL stadiums.
    • An earlier statement from PepsiCo on the developments didn't lay direct blame on the league.
  • 11:07 AM
    • Credit Suisse advises J.C. Penney (JCP -1.9%) investors to strap themselves in for some rough times.
    • The investment firm can't quite see JCP hitting the EBITDA number needed to justify shares trading at the department store valuation average.
    • Then there's the question of how to keep capex spending low while a store transformation is ongoing.
  • 10:44 AM
    • Uniqlo (OTCPK:FRCOY) aims to have 39 stores up and running in the U.S. by the middle of November as it builds out its fast-fashion brand with consumers.
    • The company has a goal to have 200 stores in the U.S. by 2020.
    • What to watch Though traditional rivals for Uniqlo include Zara (OTCPK:IDEXY), Hennes & Mauritz (OTCPK:HMRZF), and Gap (NYSE:GPS) - an explosive growth run by Uniqlo could threaten clothing chains (AEO, ARO, ANF, PSUN, ZUMZ, EXPR, BKE, URBN, WTSL, JNY, CACH, CATO, BEBE, TLYS) up and down the retail sector over the longer term.
    | Comment!
  • 10:28 AM
    • General Motors (GM +0.8%) recalls close to 3.2K natural-gas powered vans due to an issue which could increase the risk of a fire.
    • The recall action impacts select Chevrolet Express vehicles from 2010 to this year.
  • 10:10 AM
    • Nike (NKE +0.5%) brought Lebron James to its corporate headquarters in Beaverton, Oregon to promote the new Lebron 12 basketball shoe.
    • The shoe debuts on October 11 with a retail price of $200, according to Sole Collector.
    • What to watch: The product has been forecast to be a best-seller for Nike with Lebron James' Q score on the rise since his return to native Ohio.
  • 10:00 AM
    • Shares of Marchex (MCHX -42.3%) are in a freefall after the company lowers its guidance for call-driven revenue.
    • Revised commitments under a different pay model from Allstate contributed to the lowered projection.
    | Comment!
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