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Pre-Market: Target Earnings Beat Despite Data Leak; Wall Street Firms Agree to Stop Analyst Surveys
New York Attorney General Eric Schneiderman brokered a deal to prevent certain investors from getting relevant market-moving information before others.
Vincent Trivett    

Stocks were set to rise on Wednesday following better-than-anticipated quarterly results for Target Corporation (NYSE:TGT). A forthcoming report is likely to show that new-home sales suffered in the harsh winter weather.

Before the opening bell, Dow (INDEXDJX:.DJI) futures were up 0.08% to 16,200. S&P 500 (INDEXSP:.INX) futures gained 0.11% to 1,848.30. Futures on the Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.11% to 3,692.50.

Target reported fourth-quarter profit that topped expectations despite the damaging leak of customer information that shook confidence in the store during the crucial holiday season.

"Results softened meaningfully following our December [2013] announcement of a data breach," said CEO Gregg Steinhafel. "As we plan for the new fiscal year, we will continue to work tirelessly to win back the confidence of our guests."

Earnings per share fell by 46% to $0.81, from $1.47 a year earlier. Revenue fell by 5.3% to $21.5 billion. Still, this beat analysts' estimates of $0.76-per-share earnings. Shares of Target rose 0.9% in pre-market trading.

JC Penney (NYSE:JCP) shares extended yesterday's gains in the pre-market ahead of the retailer's earnings after the bell. Wall Street expects the struggling company to report that its net loss narrowed to $0.82 per share in the fourth quarter from $1.85 in the third quarter, and $1.95 a year earlier. Investors will also pay close attention to the retailer's liquidity and margins. After rising 7.65% on Tuesday, JC Penney shares rose 3.4% in early trading.

After reporting earnings yesterday afternoon, Dreamworks Animation Skg Inc (NASDAQ:DWA) shares plummeted 12.7%. Profit fell to $0.20 per share, missing estimates by $0.12. Revenue dropped 23% year-over-year to $204.3 million as the animated film Turbo failed to excite moviegoers.

Eighteen Wall Street firms including Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM) have agreed to stop allowing their analysts to participate in sentiment surveys that only elite investors have access to. New York Attorney General Eric Schneiderman brokered the deal to prevent certain investors from getting relevant market-moving information before others.

At 10 a.m. today, new-home sales figures for January will hit the wires. Economists expect the annual rate of sales to have fallen to 400,000 from 414,000 in December of last year.

Boston Federal Reserve Chief Eric Rosengren will speak today at noon on the economic outlook. This evening, Cleveland Fed President Sandra Pianalto will speak on the history of the central bank in Ohio.

Twitter: @vincent_trivett
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No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Pre-Market: Target Earnings Beat Despite Data Leak; Wall Street Firms Agree to Stop Analyst Surveys
New York Attorney General Eric Schneiderman brokered a deal to prevent certain investors from getting relevant market-moving information before others.
Vincent Trivett    

Stocks were set to rise on Wednesday following better-than-anticipated quarterly results for Target Corporation (NYSE:TGT). A forthcoming report is likely to show that new-home sales suffered in the harsh winter weather.

Before the opening bell, Dow (INDEXDJX:.DJI) futures were up 0.08% to 16,200. S&P 500 (INDEXSP:.INX) futures gained 0.11% to 1,848.30. Futures on the Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.11% to 3,692.50.

Target reported fourth-quarter profit that topped expectations despite the damaging leak of customer information that shook confidence in the store during the crucial holiday season.

"Results softened meaningfully following our December [2013] announcement of a data breach," said CEO Gregg Steinhafel. "As we plan for the new fiscal year, we will continue to work tirelessly to win back the confidence of our guests."

Earnings per share fell by 46% to $0.81, from $1.47 a year earlier. Revenue fell by 5.3% to $21.5 billion. Still, this beat analysts' estimates of $0.76-per-share earnings. Shares of Target rose 0.9% in pre-market trading.

JC Penney (NYSE:JCP) shares extended yesterday's gains in the pre-market ahead of the retailer's earnings after the bell. Wall Street expects the struggling company to report that its net loss narrowed to $0.82 per share in the fourth quarter from $1.85 in the third quarter, and $1.95 a year earlier. Investors will also pay close attention to the retailer's liquidity and margins. After rising 7.65% on Tuesday, JC Penney shares rose 3.4% in early trading.

After reporting earnings yesterday afternoon, Dreamworks Animation Skg Inc (NASDAQ:DWA) shares plummeted 12.7%. Profit fell to $0.20 per share, missing estimates by $0.12. Revenue dropped 23% year-over-year to $204.3 million as the animated film Turbo failed to excite moviegoers.

Eighteen Wall Street firms including Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM) have agreed to stop allowing their analysts to participate in sentiment surveys that only elite investors have access to. New York Attorney General Eric Schneiderman brokered the deal to prevent certain investors from getting relevant market-moving information before others.

At 10 a.m. today, new-home sales figures for January will hit the wires. Economists expect the annual rate of sales to have fallen to 400,000 from 414,000 in December of last year.

Boston Federal Reserve Chief Eric Rosengren will speak today at noon on the economic outlook. This evening, Cleveland Fed President Sandra Pianalto will speak on the history of the central bank in Ohio.

Twitter: @vincent_trivett
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Pre-Market: Target Earnings Beat Despite Data Leak; Wall Street Firms Agree to Stop Analyst Surveys
New York Attorney General Eric Schneiderman brokered a deal to prevent certain investors from getting relevant market-moving information before others.
Vincent Trivett    

Stocks were set to rise on Wednesday following better-than-anticipated quarterly results for Target Corporation (NYSE:TGT). A forthcoming report is likely to show that new-home sales suffered in the harsh winter weather.

Before the opening bell, Dow (INDEXDJX:.DJI) futures were up 0.08% to 16,200. S&P 500 (INDEXSP:.INX) futures gained 0.11% to 1,848.30. Futures on the Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.11% to 3,692.50.

Target reported fourth-quarter profit that topped expectations despite the damaging leak of customer information that shook confidence in the store during the crucial holiday season.

"Results softened meaningfully following our December [2013] announcement of a data breach," said CEO Gregg Steinhafel. "As we plan for the new fiscal year, we will continue to work tirelessly to win back the confidence of our guests."

Earnings per share fell by 46% to $0.81, from $1.47 a year earlier. Revenue fell by 5.3% to $21.5 billion. Still, this beat analysts' estimates of $0.76-per-share earnings. Shares of Target rose 0.9% in pre-market trading.

JC Penney (NYSE:JCP) shares extended yesterday's gains in the pre-market ahead of the retailer's earnings after the bell. Wall Street expects the struggling company to report that its net loss narrowed to $0.82 per share in the fourth quarter from $1.85 in the third quarter, and $1.95 a year earlier. Investors will also pay close attention to the retailer's liquidity and margins. After rising 7.65% on Tuesday, JC Penney shares rose 3.4% in early trading.

After reporting earnings yesterday afternoon, Dreamworks Animation Skg Inc (NASDAQ:DWA) shares plummeted 12.7%. Profit fell to $0.20 per share, missing estimates by $0.12. Revenue dropped 23% year-over-year to $204.3 million as the animated film Turbo failed to excite moviegoers.

Eighteen Wall Street firms including Goldman Sachs (NYSE:GS) and JPMorgan Chase (NYSE:JPM) have agreed to stop allowing their analysts to participate in sentiment surveys that only elite investors have access to. New York Attorney General Eric Schneiderman brokered the deal to prevent certain investors from getting relevant market-moving information before others.

At 10 a.m. today, new-home sales figures for January will hit the wires. Economists expect the annual rate of sales to have fallen to 400,000 from 414,000 in December of last year.

Boston Federal Reserve Chief Eric Rosengren will speak today at noon on the economic outlook. This evening, Cleveland Fed President Sandra Pianalto will speak on the history of the central bank in Ohio.

Twitter: @vincent_trivett
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
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