Seeking Alpha
  • Today - Tuesday, September 23, 2014

  • 7:15 PM
    • The Home Depot (NYSE:HD) data breach has started to trigger fraudulent transactions that are rippling across financial institutions and, in some cases, draining cash from customer bank accounts, WSJ reports.
    • Financial institutions are said to be increasing efforts to block the transactions by rejecting them if they appear unusual; HD has said that 56M cards may have been exposed in a five-month attack on its payment terminals.
    • The amount of fraud and the type of illicit transactions reportedly are not much different from activity that has followed other large attacks, but that could change quickly in the coming weeks.
    | Comment!
  • 6:37 PM
    • Copart (NASDAQ:CPRT): FQ4 EPS of $0.39 misses by $0.02.
    • Revenue of $287.45M (+9.0% Y/Y) misses by $3.67M.
    • Press Release
    | Comment!
  • 5:50 PM
    • Pizza Inn (NASDAQ:PZZI): FQ4 EPS of -$0.03.
    • Revenue of $10.94M (+5.1% Y/Y).
    • Press Release
    | Comment!
  • 5:28 PM
    • Starbucks (NASDAQ:SBUX) is acquiring the 60.5% of Starbucks Coffee Japan (OTC:STBJF) it doesn't own from JV partner Sazaby League in a 2-stage deal valued at ¥99.5B ($913.5M). The JV was formed in 1995, and now runs over 1K stores.
    • Through a tender offer, Starbucks will pay ¥965/share for Sazaby's 39.5% stake. Once the deal has closed, a tender will be launched for the 21% stake held by public shareholders/option holders at a price of ¥1,465/share (a 4.7% premium to Monday's close). The deals are expected to be completed during 1H15.
    • Starbucks expects the purchase to be slightly accretive to FY15 (ends Sep. '15) results on an adjusted basis. The company asserts the deal "positions Starbucks to accelerate growth across multiple channels in Japan, including the potential introduction of new concepts, such as Teavana."
    | 1 Comment
  • 4:26 PM
    • Bed Bath & Beyond BBBY reports comparable-store sales rose 3.4% in FQ2.
    • Operating margin rate -130 bps to 12.5%.
    • SG&A expenses +5.7% to $765K.
    • Inventory +6.4% to $2.76B.
    • Guidance: FQ3 EPS of $1.17-$1.21 vs. $1.19 consensus.
    • BBBY +6.8% AH.
    | 1 Comment
  • 4:17 PM
    • Bed Bath & Beyond (NASDAQ:BBBY): FQ2 EPS of $1.17 beats by $0.03.
    • Revenue of $2.94B (+4.3% Y/Y) beats by $50M.
    • Shares +5.8% AH.
    • Press Release
    | 1 Comment
  • 4:07 PM
    • General Motors (NYSE:GM) hires Jeffrey Massimilla to be the automaker's first top cybersecurity manager.
    • The development follows a push by the NHTSA to see automakers develop and share information about their vehicle data systems.
    • Self-driving cars and Internet-connected vehicle systems have brought the issue of hacking potential into the equation.
    | Comment!
  • 4:02 PM
    • Steelcase (NYSE:SCS): Q2 EPS of $0.27 beats by $0.04.
    • Revenue of $786.6M (+3.8% Y/Y) beats by $2.13M.
    • Press Release
    | Comment!
  • 3:30 PM
    • Shares of Bed Bath & Beyond (BBBY -1.4%) are skittish heading into today's earnings release from the retailer.
    • It's not without good cause after peers The Container Store and Pier 1 Imports both lowered sales projections due to soft demand.
    • What to watch: Channel checks have indicated the company's traffic has been driven by 20%-off deals. Margin rates could be well-off last year's levels.
    | 1 Comment
  • 3:25 PM
    • Tim Horton (THI -0.7%) announces it will hire 5K more employees across Canada.
    • Labor shortages have been an issue in the QSR sector in Canada, prompting the restaurant chain to launch a digital hiring campaign.
    • The latest word from the company on its merger with Burger King Worldwide (BKW -2.5%) is that potential rule changes in the U.S. to limit tax-reducing HQ relocations will have no impact on the deal.
    | 1 Comment
  • 2:57 PM
    • Soda sellers Coca-Cola (KO -0.6%), Dr. Pepper Snapple (DPS -2.1%), and PepsiCo (PEP -0.7%) sign a pact to work toward a goal of reducing calorie intake in the U.S.
    • The voluntary agreement will see the companies market zero-calorie and low-calorie drinks and provide more calorie counts on products.
    • The terms of the deal were negotiated by the American Beverage Association and the Alliance for a Healthier Generation.
    | Comment!
  • 2:50 PM
    • TRW Automotive (TRW -0.2%) announces that it signed a 7-year agreement with Daimler Trucks North America to supply the firm with steering systems.
    • The company says its plants in the U.S. and Mexico will deliver the products to DTNA plants in North America.
    | Comment!
  • 1:52 PM
    • Jakks Pacific (JAKK -0.3%) could rake in $125M this year from sales of Disney princess dolls based on the movie Frozen, according to Ascendiant Capital Markets.
    • The company has added five factories in China to its production assets in order to make sure demand is met.
    • Frozen dolls from Jakks are included on lists for the top holiday toys from both Toys R Us and Wal-Mart.
    • Disney (DIS -0.8%) gets a cut of the doll action through its consumer products segment.
  • 1:41 PM
    • Traffic to quick-service restaurants was flat for the year ending on June 30, according to data compiled by the NPD Group.
    • Establishments with an average check price of $10-$20 saw more traffic growth than sub-$10 outlets.
    • Fine dining restaurants saw a 3% increase in visits over the period.
    • The research firm says "cultural and economic phenomenon" have created a shift in consumer dining habits that may be permanent.
    | 1 Comment
  • 1:33 PM
    • Fox (NASDAQ:FOXA) is reportedly close to pulling the affiliation in Seattle with KCPQ-TV in a bid to gain more revenue from Seattle Seahawks football games.
    • Coverage of the Seahawks generates huge ratings in the Pacific Northwest.
    • KCPQ is owned by Tribune Media (OTCPK:TRBAA).
    | Comment!
  • 1:24 PM
    • Walgreens (WAG +1.4%) will report fiscal Q4 earnings on Tuesday, September 30 at 7:30 am ET followed by a conference call with management.
    • Consensus views for fiscal Q4 and fiscal 2014 are EPS of $0.74 on revenues of $19B and EPS of $3.29 on revenues of $76.3B, respectively.
    | Comment!
  • 11:53 AM
    • Johnson Controls (JCI -0.7%) says Bruce McDonald will become the company's new vice chairman with a broad set of operational and financial duties.
    • Insider Brian Stief will take over as the new CFO.
    | 1 Comment
  • 11:42 AM
    • A judge in California rules that Sirius XM Radio (SIRI +1.6%) violated state copyright laws and may have to pay members of the Turtles royalties for the use of the rock group's hit songs.
    • The case has been closely watched by the music industry with efforts underway to way create an "Oldies Law" for recordings which predate a 1972 federal law.
  • 11:11 AM
    • A new mini-bundle from AT&T (T -0.5%) aimed at cord-cutters and cord-nevers will include broadband services, select basic cable channels, HBO, and Amazon Prime.
    • The service will be priced at an introductory rate of $40 per month for a year after which a strong upsell effort from the company would be expected.
    • A slimmed-down package from Dish Networks is expected to debut before the end of the year.
    • What to watch: Pay-TV industry executives have expressed confidence that the cheaper packages will attract new customers - instead of cannibalizing their base subscribers from the +$100/month level. It's a view not shared by some media analysts who warn of a new era of deal-hopping between pay-TV and broadband providers.
    • Related pay-TV stocks: DISH, DTV, CHTR, CVC, CMCSA, TWC.
  • 10:55 AM
    • Discovery Communications (DISCA -1.5%) and Liberty Global (LBTYA -0.5%) announce that they have finalized a deal to acquire All3Media after clearing regulatory hurdles.
    • The film and TV producer will be held through a joint venture between the two companies.
    | Comment!
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