• Tue, Jul. 11, 11:20 AM
    • Shares of Whole Foods (NASDAQ:WFM) are showing some vitality off rumors of interest by Costco (COST +1%) in making a bid.
    • The chatter indicates that Costco is prepping for a $15B offer for the grocery store chain.
    • Whote Foods trades at $42.08 vs. the $42.00 deal price from Amazon.
    Tue, Jul. 11, 11:20 AM | 32 Comments
  • Mon, Jul. 10, 8:17 AM
    • BMO Capital downgrades Costco (NASDAQ:COST) on fears that investor fears over Amazon are handcuffing shares. The retailer is now rated at Market Perform after sitting at Outperform previously.
    • Analyst Kelly Bania notes the lackluster response to Costco's share price after an impressive 6% gain in comparable sales during June.
    • COST -0.70% premarket to $153.03. The stock is down 15% since the Amazon-Whole Foods deal was announced.
    Mon, Jul. 10, 8:17 AM | 40 Comments
  • Thu, Jul. 6, 10:44 AM
    • Shares of Costco (NASDAQ:COST) are volatile after the retailer easily topped estimates for June sales. After jumping over 2% to $161.35, shares are now only up 0.56%.
    • BMO Capital Markets (Outperform, $185 PT) analyst Kelly Bania calls out the "particularly impressive" results for Costco considering the ongoing challenging trends experienced across other parts of retail and Amazon fears. RBC Capital (Outperform, $190 PT) thinks investors have a chance to buy Costco at a significant discount to its historic earnings multiple after the Amazon-Whole Foods deal cut into share price. Stifel Nicolaus (Buy, $173 PT) expects another three quarters of at least mid single-digit sales growth. Looking further ahead, Wells Fargo (Market Perform, $170 PT) sees challenges for the industry amid higher operating costs and increased competition. Valuation is a "sticking point" for Wells analyst Zachary Fadem.
    • Sources: Bloomberg and Benzinga. Investors Business Daily
    • Previously: Costco reports strong comp sales (ex-gas and F/X) in June (July 5)
    Thu, Jul. 6, 10:44 AM | 17 Comments
  • Wed, Jul. 5, 11:16 PM
    • Costco's (NASDAQ:COST) net sales grew 7% Y/Y to $12.17B in June.
    • Comp sales +6%. U.S. +6.5%, Canada +3.2%, Other international +6.2%.
    • Excluding the effects of gasoline prices and currency swings, comparable sales increased 6.5%; U.S. +6.3%, Canada +6.8%, Other international +7.1%.
    • Press Release
    Wed, Jul. 5, 11:16 PM | 31 Comments
  • Sat, Jul. 1, 9:56 AM
    • Key events are scheduled for the companies listed below during the holiday-shortened week.
    • Notable earnings reports: PriceSmart (NASDAQ:PSMT) on July 5, Rand Logistics (NASDAQ:RLOG) on July 5, Yum China (NYSE:YUMC) on July 5, Cherokee (NASDAQ:CHKE) on July 6.
    • Expected IPO filings: None.
    • IPO quiet period expirations: Smart Global Holdings (Pending:SGH) on July 3, ShotSpotter (Pending:SSTI) on July 3, Appian Corp (NASDAQ:APPN) on July 4, WideOpenWest (Pending:WOW) on July 4.
    • Secondary offering lockup expirations: Agios Pharmaceuticals (NASDAQ:AGIO) on July 3, RSP Permian (NYSE:RSPP) on July 3, Quotient (NASDAQ:QTNT) on July 5, Synacor (NASDAQ:SYNC) on July 5, Everbridge (NASDAQ:EVBG) on July 5, Catalyst Biosciences (NASDAQ:CBIO) on July 6, Codexis (NASDAQ:CDXS) on July 6, Hyatt Hotels (NYSE:H) on July 7.
    • Notable annual meeting: TICC Capital Group (NASDAQ:TICC) on July 6.
    • Special shareholder meetings: Conyers Park Acquisition (NASDAQ:CPAA) on July 5, Galena Biopharma (NASDAQ:GALE) on July 6, Alere (NYSE:ALR) on July 7.
    • M&A watch: Expected closing for the merger between General Electric (NYSE:GE) and Baker Hughes (NYSE:BHI) on July 3.
    • Monthly sales update: Costco (NASDAQ:COST) on July 5, L Brands (NYSE:LB) on July 6, Buckle (NYSE:BKE) on July 6, Fred's (NASDAQ:FRED) on July 6, Cato (NYSE:CATO) on July 6.
    • FTC watch: Timing agreement expires on Cabela's (NYSE:CAB)-Bass Pro Shops merger.
    • FDA watch: Pfizer (NYSE:PFE) present briefing documents on July 7 ahead of an Oncologic Drugs Advisory Committee meeting on the Mylotarg application.
    • U.S. auto sales reports:: Automakers (GM, F, FCAU, TM, HMC, OTCPK:NSANY, OTCPK:VLKAY, OTC:HYMLF, OTCPK:BMWYY, OTCPK:DDAIF) update on monthly sales on July 3, with a -4% to -1% drop in total industry volume expected. Tesla (NASDAQ:TSLA) is expected to post a Model 3 update on July 2.
    • Barron's mentions: Big returns are seen for Bristol-Myers (NYSE:BMY) and Altaba (NASDAQ:AABA). New competition is expected to pressure Intel (NASDAQ:INTC) and iRobot (NASDAQ:IRBT). A cover piece on Bitcoin (COIN, OTCPK:BTCS, OTCPK:BTSC, OTCPK:GAHC) dives into the basics on the cryptocurrency. Grant's Interest Rate Observer chips in this week with a warning on the impact of organic players on Kraft Heinz (NASDAQ:KHC) and pricing pressure across the food sector from Amazon (NASDAQ:AMZN). Watch for a breakout in gold (GLD, IAU) upwards, advises Barron's.
    • Sources: EDGAR and Bloomberg
    Sat, Jul. 1, 9:56 AM | 77 Comments
  • Mon, Jun. 26, 8:31 AM
    • Raymond James upgrades Costco (NASDAQ:COST) to an Outperform rating on its view that investors have oversold the stock off the Amazon-Whole Foods merger news.
    • The investment firm sets a 12-month price target of $173 on Costco to rep 10% upside potential.
    • Source: Bloomberg
    • Shares of Costco are up 1.00% premarket to $158.70.
    Mon, Jun. 26, 8:31 AM | 20 Comments
  • Fri, Jun. 23, 9:57 AM
    • There's still plenty of talk about a retail giant stepping in to outbid Amazon for Whole Foods Market (NASDAQ:WFM).
    • The latest to enter the fray is Barclays with its suggestion that Wal-Mart (WMT -0.4%) could bid $50 to $70 per share for the premium grocery store chain and still be accretive.
    • Target (NYSE:TGT), Kroger (NYSE:KR) and Costco (NASDAQ:COST) have also been suggested as WFM buyers in a defensive measure to Amazon's grocery threat.
    • Whole Foods trades at $43.42 vs. the $42 Amazon offer. If Barclays and other investment firms are correct, the upside on WFM is significant in comparison to the $42 protection on the downside.
    • Sources: Bloomberg and @NotableCalls
    Fri, Jun. 23, 9:57 AM | 68 Comments
  • Tue, Jun. 20, 8:27 AM
    • Northcoast Research upgrades Costco (NASDAQ:COST) to a Buy rating after watching shares peel back 9% since Amazon nabbed Whole Foods.
    • "Costco's ability to take market share in fresh food categories has shown it to be relatively immune to food deflation over the past several quarters," says analysts Chuck Cerankosky.
    • Northcoast's price target of $190 is 33.3X the firm's 2017 EPS estimate and 29.2X the 2018 EPS estimate. The PT is also above Costco's all-time high of $183.18.
    • COST +0.49% premarket to $165.15.
    Tue, Jun. 20, 8:27 AM | 32 Comments
  • Mon, Jun. 19, 7:32 AM
    • Deutsche Bank lowers Costco (NASDAQ:COST) to a Hold rating after having the retailer set at Buy.
    • The firm calls the Amazon purchase of Whole Foods a "game changer" that threatens the Costco grocery moat and membership renewal levels.
    • The price target on Costco is cut by the DB team to $172 from $187.
    • COST -0.37% premarket to $166.50 after a 7.2% drop on Friday.
    Mon, Jun. 19, 7:32 AM | 44 Comments
  • Fri, Jun. 16, 5:53 PM
    • Target (NYSE:TGT) could be the retailer most impacted by the huge Amazon-for-Whole Foods deal, some analysts argue.
    • The deal is bad news for TGT, according to Gordon Haskett Research Advisors, in light of AMZN's more affluent customer overlap with TGT and TGT’s struggles with its grocery business; the firm says TGT "should use today’s news to substantially accelerate its investments in price/grocery/store experience/e-commerce.”
    • UBS analysts view the deal as negative for TGT, "as it could further complicate efforts to gain traction creating a stronger, better-for-you good offering in its stores," adding that Costco's (NASDAQ:COST) “limited assortment, low cost structure, and deep private label penetration probably means its fortunes will be preserved, at least for the foreseeable future."
    • But today was a TGT buying opportunity for Jenny Van Leeuwen Harrington, portfolio manager at Gilman Hill Asset Management, as the pullback was "wildly overdone given the company’s health and premier position in a segment of the retail market that remains critical to the fabric of America’s shopping needs."
    • Gilman Hill also likes TGT’s free cash flow generation of more than $5/share, which also means the $2.36 dividend has "more than sufficient coverage as we look ahead."
    Fri, Jun. 16, 5:53 PM | 87 Comments
  • Fri, Jun. 16, 10:00 AM
    • Shares of Costco (NASDAQ:COST) are down a whopping 7.46% after Amazon acquires Whole Foods.
    • Though it's unclear yet what direction Amazon will take with the Whole Foods stores it acquired, there's no question that Costco could be in harm's way given the Seattle company's penchant for operating at razor-thin margins.
    • Volume on Costco is already 2X normal activity after less than 30 minutes of trading.
    • Previously: Grocery sector shocker: Amazon buys Whole Foods (June 16)
    • Previously: Amazon acquires Whole Foods Market (June 16)
    • #Amazon-WholeFoods
    Fri, Jun. 16, 10:00 AM | 47 Comments
  • Tue, Jun. 13, 3:21 PM
    • Jet.com plans to phase out selling Kirkland products off its website, according to company reps.
    • The development isn't a shocker considering that Costco (COST +0.5%), which owns the Kirkland Signature brand, is a direct competitor with Jet.com owner Wal-Mart (WMT +0.4%). On that note, the Bentonville retail giant is looking to increase private label sales for its Sam's Club business.
    Tue, Jun. 13, 3:21 PM | 9 Comments
  • Mon, Jun. 5, 3:58 PM
    • J.C. Penney (JCP +0.4%) is among the companies with the most to gain from the decline of Sears (SHLD -6%) since it is in the best position to capture share and sales given similar average household income, among other reasons, Cowen's Oliver Chen says.
    • Also, JCP has been aggressively expanding its home department by adding appliance show rooms and is conducting home service tests - JCP previously noted their best performing stores are ones located in malls shared with Sears - and off-price retailers have significant room for expansion over the medium term with potential growth of 50%-70%, including both existing banners and new banners, Cowen says.
    • The firm also thinks "super value" stocks such as Costco Wholesale (COST +0.6%) and Wal-Mart (WMT +0.8%) may benefit from share gains given existing traffic momentum and attractive low prices and merchandise margin structures.
    Mon, Jun. 5, 3:58 PM | 46 Comments
  • Thu, Jun. 1, 7:10 AM
    • Costco (NASDAQ:COST) reports comparable sales increased 4.1% in May vs. +3.8% consensus estimate.
    • Comparable sales rose 5.2% in the U.S. during the month, while international same-store sales were up 4.9%.
    • Same-store sales were down 2.2% in Canada.
    Thu, Jun. 1, 7:10 AM | 6 Comments
  • Thu, May 25, 4:19 PM
    • Costco Wholesale (NASDAQ:COST): Q3 EPS of $1.40 beats by $0.09.
    • Revenue of $28.86B (+7.8% Y/Y) beats by $320M.
    • Shares +1.85%.
    • Press Release
    Thu, May 25, 4:19 PM | 16 Comments
  • Wed, May 24, 5:35 PM
    Wed, May 24, 5:35 PM | 10 Comments