Seeking Alpha
  • Today - Friday, November 28, 2014

  • 3:26 PM
    | 3 Comments
  • 3:01 PM
    • Bloomin' Brands (NASDAQ:BLMN) is selling its interests in upscale Hawaiian fusion restaurant chain Roy's to Sunil Dharod, the owner of 69 Applebee's restaurants. Terms are undisclosed.
    • Bloomin's interests include 20 company-owned restaurants. The company added Roy's to its portfolio in 2000.
    | Comment!
  • 1:29 PM
    • Reuters reports Procter & Gamble (NYSE:PG) is working with Goldman to explore a sale of its Wella hair care unit, and that a deal could fetch ~$7B.
    • P&G, which has already been busy streamlining its consumer product lineup, is said to be "exploring all options for the unit," including the sale of just a portion of it. The company bought Wella for $7B in 2003.
    • PG +1% AH.
    | 3 Comments
  • 12:59 PM
    • Fiat Chrysler Automobiles (NYSE:FCAU) says it has no plans to replace Ferrari CEO Amedeo Felisa.
    • Ferrari is slated to be spun off from Fiat Chrysler and to raise fresh capital through an IPO.
    • The new Ferrari is expected to be active in branching out into luxury goods.
    | Comment!
  • 12:27 PM
    • IBM estimates U.S. Thanksgiving online sales rose 14% Y/Y, aided by a 29.8% increase in sales from department store sites. Mobile respectively accounted for 32.3% and 52.1% of sales and site traffic, up from 25.8% and 42.6% a year ago. Average order value fell by $7 to $125.
    • ChannelAdvisor (ECOM -0.9%) reports its clients' Thanksgiving same-store sales rose 20.1%. Their Amazon (AMZN +1.7%) same-store sales rose 25.9%, but their eBay (EBAY +0.8%) sales fell 3%. Notably, all other marketplaces collectively saw 110% growth - retailers such as Best Buy and Sears have been adding marketplaces to complement their direct sales.
    • For reference, ChannelAdvisor reported 32.4% and 4.4% Amazon and eBay October same-store growth, respectively. eBay has been losing marketplace share to Amazon for some time, and was hit this summer by Google algorithm changes and a security breach.
    • Early reports for Black Friday sales have generally been positive.
    | 8 Comments
  • 12:19 PM
    | 33 Comments
  • 12:07 PM
    • J.C. Penney (JCP +3.7%) says a strong start to the Black Friday shopping weekend leaves it "well-positioned" to compete for the duration of the holiday period.
    • The company struck more sales than a year ago with its 5:00 p.m. opening time on Thanksgiving an obvious significant factor.
    • Hot categories included kitchen electrics, towels, fine jewelry, sleepwear, and Disney toys and apparel (a common theme across retail).
    • Some independent channel checks are less rosy, citing JCP as having only moderate traffic compared to some peers.
    | 3 Comments
  • 12:00 PM
    • Rada Electronics (NASDAQ:RADA): Q3 EPS of -$0.02
    • Revenue of $4.8M (+6.7% Y/Y).
    • Press Release
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  • 11:39 AM
    • Best Buy's (BBY +1.8%) website is back up and running.
    • In a statement to the media, Best Buy said a spike in mobile traffic caused its ill-timed outage earlier today.
    • The company has been touting its price-match guarantee this holiday season which is believed to be creating large interest with shoppers.
    | 1 Comment
  • 11:32 AM
    • Macy's (M +2.5%) CEO Terry Lundgren says an estimated 15K shoppers visited the company's store in Manhattan's Herald Square yesterday.
    • The department store chain opened up stores across the U.S. at 6:00 p.m. on Thanksgiving.
    • The early read on Black Friday traffic from Macy's is that it's seeing a year-over-year increase.
    • Lundgren also said in interviews that handbags and watches have sold well - particularly items made by Michael Kors.
    • Macy's is one of a boatload of retail stocks that have set an all-time high today.
    | Comment!
  • 11:05 AM
    • Automobile stocks are higher as a group after oil prices slide.
    • General Motors (NYSE:GM) is up 2.3% and Toyota is 1.1% higher, while shares of Ford (NYSE:F) are just poking out a modest 0.1% gain.
    • There's some concerns that Ford's big bet on aluminum loses some of its relevance if gas prices shoot lower.
    • Daimler (OTCPK:DDAIF) and BMW (OTCPK:BAMXY) are both beating broad market averages with +1% gains.
    • EV automaker Tesla Motors (NASDAQ:TSLA) is down 2.1% on the day.
    | 44 Comments
  • 10:55 AM
    • The teaser trailer for Star Wars: The Force Awakens is being played at movie theaters across the U.S. this weekend for the first time.
    • The Lucasfilm movie is slated to premiere on December 18, 2015 with a return of original stars Harrison Ford, Carrie Fisher, and Mark Hamill.
    • Most analysts expect Disney (NYSE:DIS) to generate close to $1.2B-$1.3B in global box office receipts and +$700M in profit. The tally moves higher if consumer products, video games, and streaming rights are all fully factored in.
    • There's a vibrant debate on SA between Disney investors on how much of the Star Wars payoff is already baked into Disney trading at +$90 per share.
    • Star Wars YouTube channel
    | 8 Comments
  • 10:34 AM
    • Shares of Wal-Mart (NYSE:WMT) cleared $88 for the first time before easing back a bit.
    • Earlier today, the retailer gushed about the awesomeness of its level of Thanksgiving Day sales, although some channel checks by analysts indicate store traffic was light compared to a year ago.
    • Online sales appear to be where Wal-Mart is shining.
    • The Bentonville giant may be out-performing other retail chains on the day with its far-flung network of stores making the drop in oil prices a bit more significant.
    • Previously: Online sales sizzle for Wal-Mart on Thanksgiving
    | 2 Comments
  • 10:26 AM
    • There's a positive vibe across retail as early reports from major chains indicate strong e-commerce sales and an easing off of the promotional fervor that has wrecked profit margins in the sector.
    • Though there's some vibrant debate on the degree of impact of lower oil prices on consumer spending, nearly all retail analysts see some trickle-down benefit for Q4.
    • The catch-all S&P Retail ETF (NYSEARCA:XRT) is up 1.7% on the day.
    • Retail ETFs: XLP, XLY, VDC, XRT, VCR, RTH, FXG, RETL, PBJ, IYK, PEJ, FXD, IYC, FDIS, RHS, SCC, FSTA, UCC, PMR, PSL, UGE, RCD, PEZ, PSCC, PSCD, SZK.
    | Comment!
  • 10:16 AM
    • Best Buy's (BBY +1.8%) website is down at the moment.
    • A message on the retailer's home page to Black Friday consumers: "Check back soon."
    • Shares of BBY have trimmed off some of their early gains, but could feel a sharper sting if the outage minutes stretch into hours.
    | 1 Comment
  • 10:11 AM
    • UPS (UPS +3.3%) and FedEx (FDX +2.5%) post strong gains on the developments from the oil sector.
    • The shipping companies may also be seeing a lift from the strong reads from Target and Wal-Mart on e-commerce sales.
    | Comment!
  • 10:05 AM
    • Global airline carriers rip gains after OPEC decides to hold production levels steady to spark another drop in crude oil prices.
    • As a group, airliners are poised to have their biggest up day of the year.
    • Gainers: China Eastern Airlines (CEA +5.8%), Delta Air Lines (DAL +5.3%), China Southern Airlines (ZNH +5.5%), Air China (OTCPK:AIRYY +6%), Cathay Pacific (OTCPK:CPCAY+6.7%, Air-France KLM (OTCQX:AFLYY+8.5%, Deutsche Lufthansa (OTCQX:DLAKY+5.9%, Singapore Airlines (OTCPK:SINGY+4.8%, Gol Linhas (GOL +5.9%), Copa Holdings (CPA +3.2%), LATAM Airlines Group (LFL +3.2%), Air Canada (OTC:AIDFF+8.9%
    | 9 Comments
  • 9:53 AM
    • Lower oil prices are helping to boost cruise line stocks.
    • Gainers: Royal Caribbean (NYSE:RCL+6.2%, Carnival (NYSE:CCL+5.1%, Norwegian Cruise Line Holdings (NASDAQ:NCLH+6.7%, Carnival ADRs (NYSE:CUK+4.9%.
    | Comment!
  • 9:49 AM
    • The hacking incident at Sony Pictures (NYSE:SNE) appears to be serious with computer servers still offline and concerns growing that key corporate information was part of the breach.
    • The company has been quiet about the nature of the hack and over the growing speculation that private information on movie stars is in the hands of the hackers.
    • Workers at Sony Pictures have reported that pen and paper are being used at offices instead of computers.
    | Comment!
  • 9:23 AM
    • Target (NYSE:TGT) reports online sales increased 40% on Thanksgiving from a year ago, led by strong growth in the mobile category.
    • Yesterday's tally marked the company's biggest online sales day ever.
    • The retailer's free shipping offer for items ordered off its website is a significant difference for consumers from last year.
    • Target stores opened at 6:00 p.m. last night and drew lines in the thousands at some locations due in part to a $575K Christmas cracker giftcard promotion.
    | 1 Comment
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