Seeking Alpha
  • Monday, September 15, 2014

  • 10:08 PM
    • Sears Holdings (NASDAQ:SHLD) has secured a $400M short-term loan from chairman Eddie Lampert, according to a new SEC filing.
    • The company says it expects to use the funds for general corporate purposes.
    • Sears ended the first half of the year with $829M cash on hand.
    • SEC Form 8-K
  • 7:35 PM
    • Tesla (NASDAQ:TSLA) is initiated at ISI Group with a Buy rating and $320 price target, as the firm believes battery electric vehicles are the way forward, not hydrogen fuel cell electric vehicles.
    • ISI says TSLA is not exposed to global emissions standards, which the firm sees as the single largest threat to automotive returns; while conventional OEMs face headwinds of ~$1,350/unit, TSLA's costs will come down with technology advances and scale, the analysts say.
    • TSLA’s volumes are frequently compared to other electric vehicle sales, but the global market opportunity for TSLA is far greater, ISI says, suggesting 500K units by 2020 is achievable.
    • Of all TSLA milestones so far, few are as important as the company’s progress in China, the firm says, adding "it is difficult to foresee an OEM better placed than Tesla to assist the government in meeting its goals."
  • 6:48 PM
    • Toyota (NYSE:TM) is reconsidering a move to open a new compact car assembly plant in Mexico after company President Akio Toyoda told planners searching for a site to pause and review its rationale, Reuters reports.
    • Momentum is said to have been building for a decision this summer on the expansion, with the aim of starting Corolla production in Mexico in a few years, but Toyoda apparently then asked the team to "re-review" the project by year’s end.
    • TM already has a pickup truck plant in the Mexican state of Baja California, capable of producing 63K Tacoma vehicles a year, but does not have any capacity for passenger cars.
    | Comment!
  • 5:21 PM
    • Student Transportation (NASDAQ:STB): FQ4 EPS of $0.06 misses by $0.01.
    • Revenue of $142.56M (+16.6% Y/Y) beats by $4.93M.
    • Press Release
    | Comment!
  • 4:20 PM
    • Nevada Gold & Casinos (NYSEMKT:UWN): FQ1 EPS of $0.02.
    • Revenue of $15.9M (+1.3% Y/Y).
    • Press Release
    | Comment!
  • 4:04 PM
    • Crystal Rock Holdings (NYSEMKT:CRVP): FQ3 EPS of $0.03.
    • Revenue of $19.2M (+4.3% Y/Y).
    • Press Release
    | Comment!
  • 4:01 PM
    • SunTrust Robinson Humphrey analyst Bob Peck thinks RadioShack (NYSE:RSH) makes for an "interesting opportunity" for Amazon (NASDAQ:AMZN).
    • Though the strategic option has been bandied around for a while, RadioShack's slide toward bankruptcy opens up more possibilities for the Seattle e-commerce giant.
    • A RadioShack reorganization would allow Amazon to cherry-pick which of the 4K stores it would want and give it local distribution access points to help it with same-day delivery initiatives.
  • 3:35 PM
    • Delphi Automotive (DLPH -1.6%) and Harman International Industries could be potential bidders for the electronics unit of Visteon (VC -0.6%), according to Gabelli.
    • The investment firm thinks a sale could fetch $2.6B.
    | Comment!
  • 3:25 PM
    • The highest court in Massachusetts rules that Tesla Motors (TSLA -9%) can sell directly to the public in the state.
    • The Massachusetts Supreme Judicial Court upheld a ruling from a lower court.
    • Shares of Tesla Motors are lower today after Morgan Stanley took a more cautious stance on the EV automaker and with a broader downturn in momentum stocks in play.
  • 2:56 PM
    • Nissan (OTCPK:NSANY) says it might look to buy electric vehicle batteries from LG Chem as part of an initiative to lower battery manufacturing costs.
    • Though CEO Carlos Ghosn backs the plan, other Nissan insiders want to see the Japanese automaker stay more active in battery production.
    • A decision on the company's battery plants in England and Tennessee is expected within a month.
    | Comment!
  • 2:36 PM
    • Stifel Nicolaus sees upside for Delta Air Lines (DAL -0.8%) based on "big picture" themes.
    • Though concerns over international capacity have lingered, the investment firm points to strong pricing fundamentals in the domestic market and the ongoing benefits of industry consolidation in backing Delta.
    | Comment!
  • 1:59 PM
    • Electronic cigarettes companies have their eyes on Hollywood with product placement spots in movies seen as a way to boost recognition for e-cig brands.
    • Traditional tobacco sellers have been shut out by regulators from paid placement ads for over 20 years.
    • Vapor Corp. (VPCO -7.2%) might be a step ahead of its peers. The firm has Relativity Media CEO Ryan Kavanaugh on its board and already pays for a "viral" campaign with Relativity.
    | 1 Comment
  • 1:49 PM
    • The Jimmy John's sandwich chain is exploring selling off a large stake, reports the Chicago Tribune.
    • A sale is expected to value the sub shop at a few billions dollars.
    • Founder Jimmy John Liautaud and P-E firm Weston Presidio hold the biggest blocks of shares.
    • There is some scuttlebutt that an IPO for JJs could be the long-range plan.
    | Comment!
  • 1:26 PM
    • Disney Infinity (NYSE:DIS) hired four unknown video game enthusiasts to design intricate levels for the Toy Box gaming mode of the new version of Disney Infinity.
    • The new staffers were identified through open design competitions.
    • What to watch: After Disney Infinity 1.0 raked in over $500M in retail sales, the company is looking for an bigger haul from Infinity 2.0 which features Marvel superhero characters. Stepping up to more intriguing levels (think Minecraft) is part of the plan to get more buzz for the gaming system.
    | Comment!
  • 1:07 PM
    • Darden Restaurants (DRI +3.5%) releases its response to Starboard Value's treatise on how to fix Olive Garden.
    • The gist of the presentation is that current Darden initiatives already address many of the Starboard proposals.
    • Darden says new pilot remodels of Olive Garden have led to a 10% boost in traffic and a higher percentage of alcoholic beverage sales.
    • SEC Schedule 14A
    | Comment!
  • 12:32 PM
    • General Motors (GM +1.5%) says it will make compensation payments for 19 deaths linked to the large ignition switch recall.
    • The mark is higher than the 13 deaths the automaker previously admitted were caused by the faulty part.
    • 106 death claims are still being considered by independent investigator Ken Feinberg's office.
    | 1 Comment
  • 12:20 PM
    • Mall retailer stocks start off the week in sluggish fashion, trailing broad market averages.
    • Channel checks on back-to-school traffic at malls have come in below expectations, although some analysts think e-commerce gains will offset.
    • Sales for retail clothing stores rose 0.3% M/M and 3.2% Y/Y in August.
    • Decliners: Lululemon (NASDAQ:LULU) -3.1%, Express (NYSE:EXPR) -2.2%, Pacific Sunwear (NASDAQ:PSUN) -2.2%, American Eagle Outfitters (NYSE:AEO) -1.6%, Wet Seal (NASDAQ:WTSL) -2.1%, Buckle (NYSE:BKE) -1.0%, Urban Outfitters (NASDAQ:URBN) -1.1%, Zumiez (NASDAQ:ZUMZ) -1.9%.
  • 11:32 AM
    • Stoneridge (SRI +1.3%) enters into a new $300M revolving credit facility.
    • The company plans to use the new facility to retire higher-rate debt to help improve its cash flow.
    | Comment!
  • 11:29 AM
    • Chuy's Holdings (CHUY +6.9%) trades higher after KeyBanc Capital Markets upgrades the stock to a Buy rating.
    • The investment firm thinks menu price increases by the chain give investors clearer visibility on earnings growth.
    | Comment!
  • 11:24 AM
    • Coca-Cola (KO) brings back its Surge brand today with a full social media blitz.
    • The soft drink was pulled from the company's product list about 12 years ago after failing to knock down Mountain Dew.
    • Coca-Cola is selling Surge exclusively through Amazon to mark the first time it has limited distribution to the e-commerce channel.
    | Comment!
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