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719500.0
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2021-05-14 00:00:00 UTC
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Consumer Sector Update for 05/14/2021: DDS,VVNT,FTCH
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DDS
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https://www.nasdaq.com/articles/consumer-sector-update-for-05-14-2021%3A-ddsvvntftch-2021-05-14
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nan
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nan
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Consumer stocks were broadly higher in Friday trading, with the SPDR Consumer Staples Select Sector ETF climbing 0.7% while the SPDR Consumer Discretionary Select Sector ETF was rising 1.4%.
In company news, Dillard's (DDS) rose over 22% after the retailer reported Q1 net income of $7.25 per share, reversing a $6.94 per share loss during the year-ago quarter, while net sales increased 65.5% year-over-year to $1.36 billion. Analysts, on average, had been expecting a $0.56 per share profit on $1.27 billion in sales.
Vivint Smart Home (VVNT) climbed over 23% after reporting a 13.6% rise in revenue over year-ago levels, climbing to $343.3 million during the three months ended March 31 and topping the Capital IQ consensus expecting $332.8 million in Q1 revenue.
Farfetch (FTCH) was nearly 13% higher after the luxury fashion website said its Q1 revenue grew 46% compared with the same quarter last year to $485 million, beating the $455 million Street view.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In company news, Dillard's (DDS) rose over 22% after the retailer reported Q1 net income of $7.25 per share, reversing a $6.94 per share loss during the year-ago quarter, while net sales increased 65.5% year-over-year to $1.36 billion. Analysts, on average, had been expecting a $0.56 per share profit on $1.27 billion in sales. Vivint Smart Home (VVNT) climbed over 23% after reporting a 13.6% rise in revenue over year-ago levels, climbing to $343.3 million during the three months ended March 31 and topping the Capital IQ consensus expecting $332.8 million in Q1 revenue.
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In company news, Dillard's (DDS) rose over 22% after the retailer reported Q1 net income of $7.25 per share, reversing a $6.94 per share loss during the year-ago quarter, while net sales increased 65.5% year-over-year to $1.36 billion. Consumer stocks were broadly higher in Friday trading, with the SPDR Consumer Staples Select Sector ETF climbing 0.7% while the SPDR Consumer Discretionary Select Sector ETF was rising 1.4%. Vivint Smart Home (VVNT) climbed over 23% after reporting a 13.6% rise in revenue over year-ago levels, climbing to $343.3 million during the three months ended March 31 and topping the Capital IQ consensus expecting $332.8 million in Q1 revenue.
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In company news, Dillard's (DDS) rose over 22% after the retailer reported Q1 net income of $7.25 per share, reversing a $6.94 per share loss during the year-ago quarter, while net sales increased 65.5% year-over-year to $1.36 billion. Consumer stocks were broadly higher in Friday trading, with the SPDR Consumer Staples Select Sector ETF climbing 0.7% while the SPDR Consumer Discretionary Select Sector ETF was rising 1.4%. Vivint Smart Home (VVNT) climbed over 23% after reporting a 13.6% rise in revenue over year-ago levels, climbing to $343.3 million during the three months ended March 31 and topping the Capital IQ consensus expecting $332.8 million in Q1 revenue.
|
In company news, Dillard's (DDS) rose over 22% after the retailer reported Q1 net income of $7.25 per share, reversing a $6.94 per share loss during the year-ago quarter, while net sales increased 65.5% year-over-year to $1.36 billion. Consumer stocks were broadly higher in Friday trading, with the SPDR Consumer Staples Select Sector ETF climbing 0.7% while the SPDR Consumer Discretionary Select Sector ETF was rising 1.4%. Analysts, on average, had been expecting a $0.56 per share profit on $1.27 billion in sales.
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39acfc58-2c48-412a-883b-751e28990707
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719501.0
|
2021-05-13 00:00:00 UTC
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Dillard's Q1 Profit Beats Street View
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DDS
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https://www.nasdaq.com/articles/dillards-q1-profit-beats-street-view-2021-05-13
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nan
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nan
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(RTTNews) - Department store chain Dillard's Inc. (DDS) Thursday reported first-quarter net income of $158.2 million or $7.25 per share, compared to net loss of $162.0 million or $6.94 per share in the same period last year.
The 2021 first quarter included a pre-tax gain of $24.6 million mainly related to the sale of three store properties.
On average, 4 analysts polled by Thomson Reuters expected the company to report earnings of $1.54 per share in the quarter. Analysts' estimates, usually exclude, one-time items.
Quarterly sales rose to $1.33 billion from $786.7 million a year ago, while analysts were looking for revenues of $1.27 billion in the period.
Total retail sales soared 73 percent to $1.29 billion from $751.0 million in the prior-year quarter, helped by juniors' and children's apparel, men's apparel and accessories and ladies' accessories and lingerie.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
(RTTNews) - Department store chain Dillard's Inc. (DDS) Thursday reported first-quarter net income of $158.2 million or $7.25 per share, compared to net loss of $162.0 million or $6.94 per share in the same period last year. The 2021 first quarter included a pre-tax gain of $24.6 million mainly related to the sale of three store properties. On average, 4 analysts polled by Thomson Reuters expected the company to report earnings of $1.54 per share in the quarter.
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(RTTNews) - Department store chain Dillard's Inc. (DDS) Thursday reported first-quarter net income of $158.2 million or $7.25 per share, compared to net loss of $162.0 million or $6.94 per share in the same period last year. Quarterly sales rose to $1.33 billion from $786.7 million a year ago, while analysts were looking for revenues of $1.27 billion in the period. Total retail sales soared 73 percent to $1.29 billion from $751.0 million in the prior-year quarter, helped by juniors' and children's apparel, men's apparel and accessories and ladies' accessories and lingerie.
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(RTTNews) - Department store chain Dillard's Inc. (DDS) Thursday reported first-quarter net income of $158.2 million or $7.25 per share, compared to net loss of $162.0 million or $6.94 per share in the same period last year. Quarterly sales rose to $1.33 billion from $786.7 million a year ago, while analysts were looking for revenues of $1.27 billion in the period. Total retail sales soared 73 percent to $1.29 billion from $751.0 million in the prior-year quarter, helped by juniors' and children's apparel, men's apparel and accessories and ladies' accessories and lingerie.
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(RTTNews) - Department store chain Dillard's Inc. (DDS) Thursday reported first-quarter net income of $158.2 million or $7.25 per share, compared to net loss of $162.0 million or $6.94 per share in the same period last year. The 2021 first quarter included a pre-tax gain of $24.6 million mainly related to the sale of three store properties. On average, 4 analysts polled by Thomson Reuters expected the company to report earnings of $1.54 per share in the quarter.
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0f3985e1-a84b-4d29-a115-1805f840f2c0
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719502.0
|
2021-04-09 00:00:00 UTC
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3 Brands Winning With Teens
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DDS
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https://www.nasdaq.com/articles/3-brands-winning-with-teens-2021-04-09
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nan
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nan
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It's always important for investors to keep an eye on the next generation's tastes and purchasing habits.
After all, as Amazon founder Jeff Bezos has said, brands have to stay young forever, and the youngest generation of consumers often has its finger most closely on the pulse of what's trending. That's why it's a good idea to pay attention to Piper Sandler's semi-annual survey of American teenagers, Taking Stock With Teens.
The just-released spring update of the survey uncovered a number of surprising findings -- female spending in apparel is quickly rebounding, 9% of respondents had traded in cryptocurrency, and 69% of teens plan to take the coronavirus vaccine when it's available to them. The report also sheds light on the brands that are winning with teens, which bodes well for their long-term future. Here are three, in particular, that stood out in the survey.
Image source: Getty Images.
1. Apple
Apple (NASDAQ: AAPL) is the most valuable company in the world largely because of the success of the iPhone, which underpins a base of more than one billion installed devices and a fast-growing services business.
The good news for Apple investors is that the brand may be even stronger with teens than the generations that came before them. Piper Sandler's survey revealed that the iPhone surged to a new record with 88% of teens saying they owned one, up from 85% from a year ago. That's significantly higher than the iPhone's market share in the overall U.S. market at 64%, indicating the brand is entrenched with teens who are likely to maintain their loyalty as they grow older. Similarly, 28% of teens now own an Apple Watch, up from 25% a year ago and three times higher than the the average iPhone owner.
While Apple faces risks, including an increasing regulatory threat and a potential shift in computing platforms to augmented and virtual reality, losing the youngest generation of consumers doesn't appear to be one of them.
2. Beyond Meat
Plant-based meat is one of the newest trends in food, and surging consumer demand fueled triple-digit growth at Beyond Meat (NASDAQ: BYND) until pandemic-related slowdowns in the restaurant industry set in. However, the plant-based meat trend is still strong with Gen Z as the Piper Sandler survey found that 49% of respondents either consume plant-based meat or are open to consuming it, up from 47% in the fall survey. Another 15% of respondents said they do eat it, while 40% who said they hadn't tried it but were interested is significantly higher than 20% of adults who fall into that category.
Beyond Meat tied with Impossible Foods for teens' favorite plant-based meat with 33% listing each one as their top choice. However, 36% of teens who eat plant-based meat said they had no brand preference, showing the market is still in its early stages and evolving, giving the company ample opportunity to gain market share as the market expands.
While Beyond Meat faces near-term challenges around accelerating its growth, teens' favorable perception of the brand and the category is a positive sign for its long-term potential.
3. Nike
Nike (NYSE: NKE) has spent the last four years reorienting its business to make its direct-to-consumer channels its top priority, which include apps like SNKRS, its fitness club, and Nike's own stores. In the process, it has laid off thousands of workers and cut out retailers from mom-and-pop operations to department stores like Dillard's as it scales back its wholesale business. One reason it's doing that is to take more control over its brand and the customer experience, and that appears to be paying off with increased loyalty among its youngest consumers, which are a key demographic for the swoosh.
Nike has been the No. 1 apparel brand in Piper Sandler's survey for 10 years, and the company extended its lead in the latest report. While the stay-at-home effects of the pandemic may have helped push Nike's market share higher, it also widened its gap ahead of rivals like adidas, a sign the company is benefiting from more than just the broad athleisure trend. As a fashion brand, Nike gained two percentage points of share, and as a footwear brand, it improved nine percentage points with 56% listing it as their favorite. VF Corp's Vans came in second place at just 12%.
While Nike's sales growth has slumped during the pandemic, the results from the survey make it clear that its brand is as strong as ever.
10 stocks we like better than Apple
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Apple wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of February 24, 2021
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Jeremy Bowman owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon, Apple, Beyond Meat, Inc., and Nike. The Motley Fool recommends the following options: long January 2022 $1920.0 calls on Amazon, long March 2023 $120.0 calls on Apple, short January 2022 $1940.0 calls on Amazon, and short March 2023 $130.0 calls on Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The just-released spring update of the survey uncovered a number of surprising findings -- female spending in apparel is quickly rebounding, 9% of respondents had traded in cryptocurrency, and 69% of teens plan to take the coronavirus vaccine when it's available to them. While Apple faces risks, including an increasing regulatory threat and a potential shift in computing platforms to augmented and virtual reality, losing the youngest generation of consumers doesn't appear to be one of them. While the stay-at-home effects of the pandemic may have helped push Nike's market share higher, it also widened its gap ahead of rivals like adidas, a sign the company is benefiting from more than just the broad athleisure trend.
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Piper Sandler's survey revealed that the iPhone surged to a new record with 88% of teens saying they owned one, up from 85% from a year ago. The Motley Fool owns shares of and recommends Amazon, Apple, Beyond Meat, Inc., and Nike. The Motley Fool recommends the following options: long January 2022 $1920.0 calls on Amazon, long March 2023 $120.0 calls on Apple, short January 2022 $1940.0 calls on Amazon, and short March 2023 $130.0 calls on Apple.
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However, the plant-based meat trend is still strong with Gen Z as the Piper Sandler survey found that 49% of respondents either consume plant-based meat or are open to consuming it, up from 47% in the fall survey. However, 36% of teens who eat plant-based meat said they had no brand preference, showing the market is still in its early stages and evolving, giving the company ample opportunity to gain market share as the market expands. The Motley Fool recommends the following options: long January 2022 $1920.0 calls on Amazon, long March 2023 $120.0 calls on Apple, short January 2022 $1940.0 calls on Amazon, and short March 2023 $130.0 calls on Apple.
|
Piper Sandler's survey revealed that the iPhone surged to a new record with 88% of teens saying they owned one, up from 85% from a year ago. However, the plant-based meat trend is still strong with Gen Z as the Piper Sandler survey found that 49% of respondents either consume plant-based meat or are open to consuming it, up from 47% in the fall survey. The Motley Fool owns shares of and recommends Amazon, Apple, Beyond Meat, Inc., and Nike.
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9e82e3db-572f-4156-a88f-2ce6a104dc0d
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719503.0
|
2021-04-05 00:00:00 UTC
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Why Dillard's Rose 21.2% in March
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DDS
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https://www.nasdaq.com/articles/why-dillards-rose-21.2-in-march-2021-04-05
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nan
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nan
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What happened
Shares of Dillard's (NYSE: DDS) rose 21.2% in March, according to data provided by S&P Global Market Intelligence.
While the under-the-radar department store might seem like a relic of the past in an environment dominated by e-commerce and big-box retailers, Dillard's has some unique advantages relative to most brick-and-mortar stores. The company's late-February earnings report showed a return to profitability amid improving revenue trends as well.
Image source: Getty Images.
So what
In the fourth quarter, Dillard's had some positive results. Although revenue was still down from the prior-year quarter before the pandemic, declines improved quarter over quarter, with sales down 17% versus down 24% in the third quarter. Impressively, profits actually increased relative to Q4 2019, as Dillard's was able to raise gross margins and cut SG&A expenses.
Dillard's has an enormous advantage relative to many other department stores in that it owns its own construction company and also owns its stores. That saves both on lease payments and on capital expenditures when it builds new stores or improves old ones.
Moreover, although the company lost $72 million for the full year 2020, Dillard's generated positive free cash flow, as it sold off lots of inventory it had heading into the pandemic. Dillard's made more than $190 million in free cash flow last year despite the pandemic, allowing it to pay its 0.65% dividend while also buying back more than $100 million of stock at attractive prices.
Now what
Dillard's and other department stores have rebounded in March, as the vaccine rollout is ahead of schedule and investors have turned to "reopening" value plays. After its recent run, Dillard's trades around 18.2 times its 2019 earnings. That's below the overall market, although many are skeptical that Dillard's can grow given the longer-term headwinds around e-commerce and declining department stores. While Dillard's became very, very cheap during the pandemic, it remains a battleground at these levels after its recent big run.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of February 24, 2021
Billy Duberstein owns shares of Dillard's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
What happened Shares of Dillard's (NYSE: DDS) rose 21.2% in March, according to data provided by S&P Global Market Intelligence. Moreover, although the company lost $72 million for the full year 2020, Dillard's generated positive free cash flow, as it sold off lots of inventory it had heading into the pandemic. Now what Dillard's and other department stores have rebounded in March, as the vaccine rollout is ahead of schedule and investors have turned to "reopening" value plays.
|
What happened Shares of Dillard's (NYSE: DDS) rose 21.2% in March, according to data provided by S&P Global Market Intelligence. Although revenue was still down from the prior-year quarter before the pandemic, declines improved quarter over quarter, with sales down 17% versus down 24% in the third quarter. Dillard's has an enormous advantage relative to many other department stores in that it owns its own construction company and also owns its stores.
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What happened Shares of Dillard's (NYSE: DDS) rose 21.2% in March, according to data provided by S&P Global Market Intelligence. Dillard's has an enormous advantage relative to many other department stores in that it owns its own construction company and also owns its stores. Dillard's made more than $190 million in free cash flow last year despite the pandemic, allowing it to pay its 0.65% dividend while also buying back more than $100 million of stock at attractive prices.
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What happened Shares of Dillard's (NYSE: DDS) rose 21.2% in March, according to data provided by S&P Global Market Intelligence. Dillard's has an enormous advantage relative to many other department stores in that it owns its own construction company and also owns its stores. After its recent run, Dillard's trades around 18.2 times its 2019 earnings.
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562213c2-65d0-48f4-aa4c-9cc7184d777e
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719504.0
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2021-03-29 00:00:00 UTC
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Dillard's, Inc. (DDS) Ex-Dividend Date Scheduled for March 30, 2021
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DDS
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https://www.nasdaq.com/articles/dillards-inc.-dds-ex-dividend-date-scheduled-for-march-30-2021-2021-03-29
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nan
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nan
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Dillard's, Inc. (DDS) will begin trading ex-dividend on March 30, 2021. A cash dividend payment of $0.15 per share is scheduled to be paid on May 03, 2021. Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 7th quarter that DDS has paid the same dividend.
The previous trading day's last sale of DDS was $94.29, representing a -26.34% decrease from the 52 week high of $128 and a 338.54% increase over the 52 week low of $21.50.
DDS is a part of the Consumer Services sector, which includes companies such as Walmart Inc. (WMT) and Costco Wholesale Corporation (COST). DDS's current earnings per share, an indicator of a company's profitability, is -$2.83.
For more information on the declaration, record and payment dates, visit the DDS Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to DDS through an Exchange Traded Fund [ETF]?
The following ETF(s) have DDS as a top-10 holding:
Invesco RAFI Strategic US Small Company ETF (IUSS).
The top-performing ETF of this group is IUSS with an increase of 61.47% over the last 100 days. It also has the highest percent weighting of DDS at 0.38%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. DDS is a part of the Consumer Services sector, which includes companies such as Walmart Inc. (WMT) and Costco Wholesale Corporation (COST). For more information on the declaration, record and payment dates, visit the DDS Dividend History page.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. The following ETF(s) have DDS as a top-10 holding: Invesco RAFI Strategic US Small Company ETF (IUSS). Dillard's, Inc. (DDS) will begin trading ex-dividend on March 30, 2021.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. For more information on the declaration, record and payment dates, visit the DDS Dividend History page. The following ETF(s) have DDS as a top-10 holding: Invesco RAFI Strategic US Small Company ETF (IUSS).
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. The following ETF(s) have DDS as a top-10 holding: Invesco RAFI Strategic US Small Company ETF (IUSS). Dillard's, Inc. (DDS) will begin trading ex-dividend on March 30, 2021.
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8fe01f6f-afc0-4eff-bb18-c2bf5a19eca6
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719505.0
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2021-03-22 00:00:00 UTC
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Should You Buy Tempur Sealy Stock At $39?
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DDS
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https://www.nasdaq.com/articles/should-you-buy-tempur-sealy-stock-at-%2439-2021-03-22
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nan
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nan
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Tempur Sealy International’s stock (NYSE: TPX), a manufacturer, marketer, and distributor of premium mattresses and pillows, saw its revenues grow 18% to a consolidated figure of $3.68 Bil for the last four quarters from the consolidated figure of $3.11 Bil for the four-quarter period before that. To add to this, TPX stock has also increased over 4x – moving from roughly $9 to $39 in the last 12 months. So will TPX stock continue its upward trajectory over the coming weeks and months, or is a correction looking more likely? We believe that the stock still has more room to go. This is taking into account TPX’s leadership position in the mattress industry and a stronger outlook for 2021. The mattress maker has benefited from consecutive strong earnings reports, an improved relationship with Mattress Firm, and the success of its cooling mattress TempurPedic.
TPX stock has largely outperformed the broader markets between FY 2018 and now. The retailer’s stock is around 271% higher than it was at the end of FY 2018, compared to 59% growth in the S&P. Our dashboard, What Factors Drove 4x Growth in Tempur Sealy International Stock Since 2018 End? provides the key numbers behind our thinking, and we explain more below.
Tempur’s stock grew a robust 160% from around $10 at the end of FY 2018 to $27 in FY 2020. The company’s revenues grew 36% from $2.7 billion in 2018 to around $3.7 billion in 2020, driven by investments in innovative products, direct distribution, and broad-based demand across geographies in both wholesale and direct sales channels. In addition, the mattress maker saw its net income margin expand 510 basis points to 9.5% during this period. Finally, the company’s stock largely grew during the 2018-2020 period, due to the market assigning a higher P/E from around 6x in FY 2018 to 16x in FY 2020. While the company’s P/E is up at about 23x now, we expect the company’s multiple to grow modestly on its recent operating performance and strong guidance for 2021.
How Is Coronavirus Impacting TPX’s Stock?
Tempur’s total net sales increased 18% to $3.7 billion in 2020, a record for the company. In addition, earnings also grew 91% to $1.68 per share. The mattress maker benefited from consumers’ increased focus on home-related spending, which accelerated as a result of the pandemic.
Tempur-Sealy expects its products, powerful omnichannel marketing approach, and robust global manufacturing capabilities to help the company perform well in 2021, as well. It guides for a revenue growth of +15% to +20% in fiscal 2021, which works out to a range of $4.23 billion to $4.41 billion, compared to a $3.91 billion consensuses. In addition, the company also expects earnings per share of $2.30 to $2.50 in fiscal 2021, compared to the $1.99 consensus.
While TPX stock looks attractive, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how the stock valuation for Dolby Laboratories vs. Tempur Sealy International shows a disconnect with their relative operational growth. You can find many such discontinuous pairs here.
See all Trefis Price Estimates and Download Trefis Data here
What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The mattress maker benefited from consumers’ increased focus on home-related spending, which accelerated as a result of the pandemic. Tempur-Sealy expects its products, powerful omnichannel marketing approach, and robust global manufacturing capabilities to help the company perform well in 2021, as well. For example, you’ll be surprised how the stock valuation for Dolby Laboratories vs. Tempur Sealy International shows a disconnect with their relative operational growth.
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Tempur Sealy International’s stock (NYSE: TPX), a manufacturer, marketer, and distributor of premium mattresses and pillows, saw its revenues grow 18% to a consolidated figure of $3.68 Bil for the last four quarters from the consolidated figure of $3.11 Bil for the four-quarter period before that. Our dashboard, What Factors Drove 4x Growth in Tempur Sealy International Stock Since 2018 End? In addition, the company also expects earnings per share of $2.30 to $2.50 in fiscal 2021, compared to the $1.99 consensus.
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Tempur Sealy International’s stock (NYSE: TPX), a manufacturer, marketer, and distributor of premium mattresses and pillows, saw its revenues grow 18% to a consolidated figure of $3.68 Bil for the last four quarters from the consolidated figure of $3.11 Bil for the four-quarter period before that. Tempur’s stock grew a robust 160% from around $10 at the end of FY 2018 to $27 in FY 2020. Finally, the company’s stock largely grew during the 2018-2020 period, due to the market assigning a higher P/E from around 6x in FY 2018 to 16x in FY 2020.
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Our dashboard, What Factors Drove 4x Growth in Tempur Sealy International Stock Since 2018 End? Tempur’s stock grew a robust 160% from around $10 at the end of FY 2018 to $27 in FY 2020. Tempur-Sealy expects its products, powerful omnichannel marketing approach, and robust global manufacturing capabilities to help the company perform well in 2021, as well.
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b4b2dbae-4ebf-4bc1-ac70-c5cdbe60ac6c
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719506.0
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2021-03-15 00:00:00 UTC
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Better Buy: Nike vs. GoPro
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DDS
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https://www.nasdaq.com/articles/better-buy%3A-nike-vs.-gopro-2021-03-15
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nan
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nan
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Neither company needs much of an introduction. Nike (NYSE: NKE) is of course one of the most recognizable names in the athletic apparel business, while GoPro (NASDAQ: GPRO) is credited with creating the "action camera" industry. Both are the big powerhouses of their respective markets.
If there's only room for one of these names in your portfolio, it's Nike by a country mile.
Image source: Getty Images.
Why not GoPro?
It's not a call every investor agrees with. Sure, GoPro shares were grossly overvalued when (and shortly after) the company went public in 2014, and the company wildly overestimated the prospective demand for its products. To the extent of being the best-of-breed within your business, though, nobody denies GoPro cameras are tops.
Largely lost in the noise of the accolades, however, is the fact that the world just doesn't need that many action cameras of any quality.
That's not to suggest GoPro's business is doomed. One way or another the brand will live on. Sales are projected to improve by 22% this year -- reversing last year's COVID slump -- en route to 2022's expected 9% top-line growth. Operating earnings should recover accordingly.
Take a look at GoPro's sales and profit history, though. Sales haven't gone anywhere since 2015 and fell sharply last year. Losses have narrowed gradually over time, but the company saw a setback in 2020.
Data source: Thomson Reuters. Chart by author.
The bulk of that tepid performance can't be blamed on the pandemic, and the introduction of new apps and platforms did nothing to ignite growth. To this end, notice that beyond next year's expected single-digit sales growth, the analyst community is modeling a slight sales contraction for 2023, to be matched by a decline in profits.
Why Nike?
This is in stark contrast to Nike's prospective future. Analysts are modeling strong double-digit sales growth through next fiscal year, as the company shrugs off the effect of the coronavirus. And, while that growth pace should slow to single digits past 2022, single-digit growth for a company of Nike's size addressing a saturated athletic apparel market is actually quite impressive.
Data source: Thomson Reuters. Chart by author.
There's little reason to doubt Nike can do as well as expected either, particularly given its plans to evolve beyond the so-called retail apocalypse.
One of these plans is the continued development of its own selling self-sufficiency, online and via its own stores.
The COVID-19 contagion has been tough on most consumer-facing companies, but Nike's been a curious bright spot. Sales for its second fiscal quarter ending in November were up 9% year over year, and up 4% through the first half of the year.
The company's been able to defy the odds by controlling a big piece of its sales venues. Sales it made directly to customers (rather than through retail partners) totaled $4.3 billion last quarter, up 32% year over year, and accounting for nearly 40% of the company's revenue. E-commerce produced the bulk of that growth, up 84% year over year.
Look for more progress on both the direct-to-consumer and digital fronts too. Last month Nike announced it had acquired data integration platform Datalogue, which will help the brand's apps, inventory management systems, and internal data work better with one another.
It's just one of many examples of investments the company has made in its online presence.
Nike knows it can't do everything it wants to do on its own, however, so it's streamlining its retailing partner network for maximum efficiency.
Making good on an initiative announced in 2017, in August of last year the company stopped shipping products to smaller department store chains, including Belk, Dillard's, and Fred Meyer, just to name a few. It's counterintuitive on the surface, but it's brilliant under the hood.
A statement from the brand explained: "As part of our recently announced Consumer Direct Acceleration strategy, we are doubling down on our approach with Nike Digital and our owned stores, as well as a smaller number of strategic partners who share our vision to create a consistent, connected and modern shopping experience." It wasn't a highlighted detail at the time, but by acting as its own retailer Nike also enjoys the wholesale and the retail markup.
An easy answer
Too simple a comparison? Don't fall into that mental trap. Many great long-term stock picks often end up being obvious buys, when looking back in. Ditto for disappointing stocks -- problems clearly plaguing certain companies can often be taken at face value.
In other words, Nike is not only the better buy of these two options, it's the only buy you can feel comfortable owning. Don't overthink it.
10 stocks we like better than GoPro
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*Stock Advisor returns as of February 24, 2021
James Brumley has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nike. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The company's been able to defy the odds by controlling a big piece of its sales venues. Nike (NYSE: NKE) is of course one of the most recognizable names in the athletic apparel business, while GoPro (NASDAQ: GPRO) is credited with creating the "action camera" industry. Making good on an initiative announced in 2017, in August of last year the company stopped shipping products to smaller department store chains, including Belk, Dillard's, and Fred Meyer, just to name a few.
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The company's been able to defy the odds by controlling a big piece of its sales venues. Nike (NYSE: NKE) is of course one of the most recognizable names in the athletic apparel business, while GoPro (NASDAQ: GPRO) is credited with creating the "action camera" industry. Data source: Thomson Reuters.
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The company's been able to defy the odds by controlling a big piece of its sales venues. And, while that growth pace should slow to single digits past 2022, single-digit growth for a company of Nike's size addressing a saturated athletic apparel market is actually quite impressive. Sales for its second fiscal quarter ending in November were up 9% year over year, and up 4% through the first half of the year.
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The company's been able to defy the odds by controlling a big piece of its sales venues. Nike (NYSE: NKE) is of course one of the most recognizable names in the athletic apparel business, while GoPro (NASDAQ: GPRO) is credited with creating the "action camera" industry. Why Nike?
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b15b7f9c-1bae-490a-a4ef-64d3fecca7fc
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719507.0
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2021-02-22 00:00:00 UTC
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Dillard's Q4 Profit Edges Down, But Tops Estimates - Quick Facts
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DDS
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https://www.nasdaq.com/articles/dillards-q4-profit-edges-down-but-tops-estimates-quick-facts-2021-02-22
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS) reported Monday that fourth-quarter net income edged up to $67.0 million or $3.05 per share from $67.7 million or $2.75 per share in the prior-year quarter.
Net sales for the quarter decreased 19% to $1.57 billion from $1.92 billion in the same quarter last year. Sales in comparable stores for the period decreased approximately 17%.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.66 per share on net sales of $1.65 billion for the quarter. Analysts' estimates typically exclude special items.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS) reported Monday that fourth-quarter net income edged up to $67.0 million or $3.05 per share from $67.7 million or $2.75 per share in the prior-year quarter. Sales in comparable stores for the period decreased approximately 17%. On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.66 per share on net sales of $1.65 billion for the quarter.
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS) reported Monday that fourth-quarter net income edged up to $67.0 million or $3.05 per share from $67.7 million or $2.75 per share in the prior-year quarter. Net sales for the quarter decreased 19% to $1.57 billion from $1.92 billion in the same quarter last year. On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.66 per share on net sales of $1.65 billion for the quarter.
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS) reported Monday that fourth-quarter net income edged up to $67.0 million or $3.05 per share from $67.7 million or $2.75 per share in the prior-year quarter. Net sales for the quarter decreased 19% to $1.57 billion from $1.92 billion in the same quarter last year. On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.66 per share on net sales of $1.65 billion for the quarter.
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS) reported Monday that fourth-quarter net income edged up to $67.0 million or $3.05 per share from $67.7 million or $2.75 per share in the prior-year quarter. Net sales for the quarter decreased 19% to $1.57 billion from $1.92 billion in the same quarter last year. On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.66 per share on net sales of $1.65 billion for the quarter.
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7d5630b3-e7f7-4099-889f-ad00ff1b0cce
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719508.0
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2021-02-18 00:00:00 UTC
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7 Stocks Hedge Funds Fear Could Be Next Redditor Short-Squeeze Target
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DDS
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https://www.nasdaq.com/articles/7-stocks-hedge-funds-fear-could-be-next-redditor-short-squeeze-target-2021-02-18
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
If nothing else, the recent short squeeze of GameStop (NYSE:GME) stock put hedge fund managers on the defensive. One hedge fund, Melvin Capital, got crushed in the GameStop short squeeze, losing 53% of its value or about $4.5 billion of its assets. Other hedge funds have responded to the carnage by closing out their short positions on many stocks for fear of getting into a short squeeze themselves.
But the r/WallStreetBets crowd that fueled the GameStop rally on the popular Reddit forum shows no signs of stopping anytime soon. After GameStop, the platform’s mob targeted cannabis stocks, running companies such as Tilray (NASDAQ:TLRY) up 123% in three trading sessions to a peak of $67 a share before it crashed back down to earth and closed the week at $29 per share.
7 Blue-Chip Stocks That Aren’t a Gamble
It has Wall Street asking which stocks will be next? In this article we look at seven stocks that currently have inflated short interest and that hedge funds fear could be the next to get squeezed by retail investors.
Virgin Galactic (NYSE:SPCE)
Dillard’s (NYSE:DDS)
fuboTV (NYSE:FUBO)
Tanger Factory Outlet Centers (NYSE:SKT)
Beyond Meat (NASDAQ:BYND)
Cineplex (TSE:CGX)
Tootsie Roll Industries (NYSE:TR)
Stocks Hedge Funds Fear Could Be Next: Virgin Galactic (SPCE)
SPCE) banner hanging on the New York Stock Exchange building to celebrate its IPO." width="300" height="169">
Source: Christopher Penler / Shutterstock.com
Virgin Galactic has a lot of things that appeal to the crowd on the WallStreetBets Reddit forum. The company is backed by charismatic billionaire named Sir Richard Branson; its focus on space tourism is unproven, risky and has attracted a fair number of skeptics; and, SPCE stock is massively shorted.
Currently, Virgin Galactic is the fourth-most heavily shorted stock on Wall Street, with a 72% short interest. This is exactly the type of stock that the Reddit crowd would love to create “to the moon” memes about.
Virgin Galactic stock has also been extremely volatile since the end of January, bouncing between $45 and $60 a share. The stock has been rising and falling 10% or more in single trading sessions in recent weeks. The share price recently dropped 10% after the company delayed a planned test flight of its SpaceShipTwo vehicle, a key milestone in the company’s plans to begin commercial space flights.
While institutional investors are betting against SPCE stock, it wouldn’t take much for retail investors to execute a short squeeze on this name.
Dillard’s (DDS)
DDS) storefront with trees and shrubs around entrance" width="300" height="169">
Source: APN Photography / Shutterstock.com
After GameStop, the most-shorted stock right now is antiquated department store chain Dillard’s. Founded in 1938, the Little Rock, Arkansas-based company is viewed as a dinosaur in the age of Amazon and online shopping. Plus, the company’s finances are a mess.
In the past year, Dillard’s revenue declined by $1.5 billion or about 25%, while also losing $200 million in net income for a total net loss of $71 million. For these reasons, DDS stock currently has a 95% short interest.
However, despite the seemingly dire situation, DDS stock has been moving higher this year, up 38% since the beginning of January to just under $80 a share. This sharp move higher, which makes no sense given the company’s poor fundamentals, has many people on Wall Street speculating that Dillard’s stock may already be in the grips of a short squeeze.
7 Stocks That Elon Musk Loves — And That You Should Too
Consider that the median price target on the stock is $57 a share, representing a nearly 30% decline from its current level, and it’s easy to see that something unusual is going on. Yet Dillard’s stock could run higher if retail investors squeeze harder.
fuboTV (FUBO)
FUBO) logo on a smart phone against a computer keyboard." width="300" height="169">
Source: Lori Butcher/ShutterStock.com
With its focus on streaming live sports, fuboTV is a curious streaming service. Basically, fuboTV streams the sports people can watch on basic cable, including professional football, baseball, basketball, hockey and American soccer.
This partially accounts why so many professional traders are betting against fuboTV. Plus, FUBO stock has had a massive run up since its initial public offering (IPO) last October, rising 243% to more than $45 a share. The professional hedge fund managers rightly think this stock is due for a pullback.
Currently, FUBO stock has a 72% short interest, making it one of the most heavily shorted stocks. However, FuboTV has, so far, managed to prove the short-sellers wrong – something the WallStreetBets mob loves. The company’s stock recently jumped even higher on news that one analyst had increased his price target on the stock by 25%. The median price target on the stock is $48 a share.
Should the Reddit crowd get their hands on this stock, which is still trading under $50, there’s no telling how high it might go.
Tanger Factory Outlet Centers (SKT)
Source: Ritu Manoj Jethani / Shutterstock.com
Has anyone missed shopping at outlet malls during the pandemic? The so-called “smart money” surely hasn’t given that SKT stock has a 52% short interest. Institutional investors don’t expect people to return to outlet malls anytime soon — not with the convenience of having everything we want and need delivered to our front doors. And that is bad news for Greensboro, North Carolina-based Tanger Factory Outlet Centers that operates 32 outlet center malls in the U.S. and Canada.
7 Blue-Chip Stocks That Aren’t a Gamble
Tanger shares have been struggling over the past year and is currently below its pre-pandemic level at $14.15 a share. SKT stock did get a big and unusual boost at the same time the GameStop short squeeze was taking place. At the end of January, Tanger’s stock suddenly jumped 50% to nearly $18 a share. The sudden move higher was partly attributed to the company reinstating its dividend. But a few days later, the stock price was back down under $13. The volatile move led many on Wall Street add Tanger’s stock to their short-squeeze watch list.
Beyond Meat (BYND)
Source: Shutterstock
Beyond Meat has been a volatile stock since its initial public offering in 2019. BYND stock initially ran up 255% before falling 75% and then rebounding 236%. It’s been a roller coaster. Part of the problem has been the company’s inability to expand its plant-based meat substitute beyond a core customer base of vegetarians and vegans. Several arrangements that Beyond Meat entered into with the likes of McDonald’s (NYSE:MCD) and Taco Bell have not taken off as hoped. The company is now exploring a possible deal with PepsiCo (NASDAQ:PEP) to develop plant-based snacks, but many analysts are skeptical that it will bear much fruit.
These set backs help to explain why there is a 43% short interest on BYND stock. Hedge funds and institutional investors are betting that Beyond Meat will not be able to significantly broaden its appeal. Just the kind of challenge the WallStreetBets crowd loves to accept.
Beyond Meat stock had a nice 43% jump at the end of January, reaching $192 a share. But it has since flat lined at around $175. However, it wouldn’t take much to send this stock back up to its all-time high of $234.90 a share.
Cineplex (CGX.TO)
Source: Shutterstock
AMC Entertainment (NYSE:AMC) isn’t the only game in town when it comes to struggling movie theatre chains. There’s also Canada’s Cineplex, a Toronto-based company that operates approximately 165 movie theatres across that vast, frozen nation. And, just like AMC, Cineplex has been on the ropes ever since the pandemic forced it to almost entirely shutdown operations.
The company reported a loss of $230.4 million in the fourth quarter, or $3.64 per diluted share. That compares to a profit of $3.5 million or 6 cents per diluted share in the fourth quarter of 2019.
The situation has gotten so bad that Cineplex recently sold its Toronto head office for $57 million and the company’s CEO has been promoting the idea of turning the abandoned movie theatres into Covid-19 vaccination sites.
7 Stocks That Elon Musk Loves — And That You Should Too
Truth be told, Cineplex was struggling before Covid-19. That’s why the company agreed to be bought out by Britain’s Cineworld (LON:CINE.L) in late 2019. But Cineworld backed out of that 2.8 billion CAD ($2.2 billion) agreement when the pandemic took hold. While not one of the most shorted stocks in the U.S., the Reddit crowd might still find CGX stock an attractive proposition at 11.80 CAD a share.
Tootsie Roll Industries (TR)
Source: Famartin, CC BY-SA 4.0, via Wikimedia Commons
Believe it or not, there is a confectionery company dedicated to making Tootsie Rolls, those taffy life candies most of us find at the bottom of a bag of Halloween candy. Based in Chicago and in operation since 1896, it’s fair to say that Tootsie Roll’s best days are long behind it now.
The company’s heyday was in the 1930s when it invented the Tootsie Pop sucker that proved to be a big hit during the Depression because of its low price. Today, Tootsie Roll Industries is largely viewed as a relic from another time, which is why TR stock has a 45% short interest.
Tootsie Roll Industries is the type of random, outdated stock that the WallStreetBets crowd seems to enjoy running up to ridiculous prices as hedge fund managers scramble to cover their short positions and media pundits spout terms like “irrational exuberance” and “pump and dump.” Yet given its current short position, it would not be out of the realm of possibility for retail traders to target TR stock for a short squeeze.
Some people think the stock is already being squeezed given its 43% jump at the end of January. Before that, the share price had been stuck right around $30 a share.
On the date of publication, Joel Baglole held a long position in MCD.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
The post 7 Stocks Hedge Funds Fear Could Be Next Redditor Short-Squeeze Target appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Virgin Galactic (NYSE:SPCE) Dillard’s (NYSE:DDS) fuboTV (NYSE:FUBO) Tanger Factory Outlet Centers (NYSE:SKT) Beyond Meat (NASDAQ:BYND) Cineplex (TSE:CGX) Tootsie Roll Industries (NYSE:TR) Stocks Hedge Funds Fear Could Be Next: Virgin Galactic (SPCE) SPCE) banner hanging on the New York Stock Exchange building to celebrate its IPO." Dillard’s (DDS) DDS) storefront with trees and shrubs around entrance" width="300" height="169"> Source: APN Photography / Shutterstock.com After GameStop, the most-shorted stock right now is antiquated department store chain Dillard’s. For these reasons, DDS stock currently has a 95% short interest.
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Virgin Galactic (NYSE:SPCE) Dillard’s (NYSE:DDS) fuboTV (NYSE:FUBO) Tanger Factory Outlet Centers (NYSE:SKT) Beyond Meat (NASDAQ:BYND) Cineplex (TSE:CGX) Tootsie Roll Industries (NYSE:TR) Stocks Hedge Funds Fear Could Be Next: Virgin Galactic (SPCE) SPCE) banner hanging on the New York Stock Exchange building to celebrate its IPO." Dillard’s (DDS) DDS) storefront with trees and shrubs around entrance" width="300" height="169"> Source: APN Photography / Shutterstock.com After GameStop, the most-shorted stock right now is antiquated department store chain Dillard’s. For these reasons, DDS stock currently has a 95% short interest.
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Virgin Galactic (NYSE:SPCE) Dillard’s (NYSE:DDS) fuboTV (NYSE:FUBO) Tanger Factory Outlet Centers (NYSE:SKT) Beyond Meat (NASDAQ:BYND) Cineplex (TSE:CGX) Tootsie Roll Industries (NYSE:TR) Stocks Hedge Funds Fear Could Be Next: Virgin Galactic (SPCE) SPCE) banner hanging on the New York Stock Exchange building to celebrate its IPO." Dillard’s (DDS) DDS) storefront with trees and shrubs around entrance" width="300" height="169"> Source: APN Photography / Shutterstock.com After GameStop, the most-shorted stock right now is antiquated department store chain Dillard’s. For these reasons, DDS stock currently has a 95% short interest.
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Virgin Galactic (NYSE:SPCE) Dillard’s (NYSE:DDS) fuboTV (NYSE:FUBO) Tanger Factory Outlet Centers (NYSE:SKT) Beyond Meat (NASDAQ:BYND) Cineplex (TSE:CGX) Tootsie Roll Industries (NYSE:TR) Stocks Hedge Funds Fear Could Be Next: Virgin Galactic (SPCE) SPCE) banner hanging on the New York Stock Exchange building to celebrate its IPO." Dillard’s (DDS) DDS) storefront with trees and shrubs around entrance" width="300" height="169"> Source: APN Photography / Shutterstock.com After GameStop, the most-shorted stock right now is antiquated department store chain Dillard’s. For these reasons, DDS stock currently has a 95% short interest.
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441e66c1-699e-4d9e-9ae4-d9b52c0a711d
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719509.0
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2021-01-27 00:00:00 UTC
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The big short: GameStop effect puts global bets worth billions at risk
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DDS
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https://www.nasdaq.com/articles/the-big-short%3A-gamestop-effect-puts-global-bets-worth-billions-at-risk-2021-01-27-0
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By Thyagaraju Adinarayan and Saikat Chatterjee
LONDON, Jan 27 (Reuters) - Global bets worth billions of dollars could be at risk as amateur share traders challenge the bearish positions of influential funds, inflating stock valuations and leaving the professionals looking at potentially hefty losses.
Gone are the days when bruised retail investors fled after prominent hedge funds bet against a stock -- the GameStop GME.N effect is rippling across U.S. markets and spreading to Europe.
Shares of the 20 small-cap Russell 2000 index companies .RUT with the biggest bearish bets against them have risen 60% on average so far this year, easily outperforming the rest of the market, a Reuters analysis of Refinitiv data shows.
Similarly, the best performers in Britain this week have been companies such as Pearson PSON.L and Cineworld CINE.L, in which investors also have sizeable short positions.
But share price surges such as the 700% year-to-date jump in U.S. video game retailer GameStop GME.N could potentially wipe out billions of dollars of those short bets.
Bets against GameStop alone amounted to more than $2.2 billion as of Monday, FIS' Analytics data showed, equivalent to more than a fifth of the company's market value.
However, the company's share price has quadrupled since the end of last week and added as much as 86% in early Wednesday trading to $276.
"Most of the short positions are funded on margins. And so when markets run against you, you are stopped out if you are a short seller," said Kaspar Hense, a fund manager at BlueBay Asset Management, which runs $60 billion in assets.
"A short position can exaggerate your losses if you are not actively managing your position."
Several traders have told Reuters that one of the reasons for the jump in the price of some shares is short-sellers buying back into the stock to cover potential losses -- the classic short-squeeze -- drawing in more retail investors hoping to ride the wave.
GROWING SHARE
Retail investors account for an increasingly large share of market trading. Retail broker eToro told Reuters a third of its base joined in 2020 when trading on its platform surged five-fold from 2019 to $1.5 trillion.
Retail investors' participation in U.S. equity order flows increased to nearly 20% in 2020 from 15% in 2019, while orders from long-only funds fell to 6.4% last year from 9.7% in 2019, data from Swiss bank UBS showed.
Short sellers typically borrow stocks to sell with a view to buying them back later when the price falls. The premium they pay to borrow the shares reflects the demand for them.
All the GameStop shares that would be available to borrow are are already out on loan, with traders estimating annual borrowing costs at 25%-50% of the company's share price.
Short-seller Andrew Left, who runs Citron Research and is one of the big names behind the bets against GameStop, shorted the stock when it traded around $40, expecting it to halve in value. He still has a short bet although he has covered the majority of the position at a 100% loss.
Melvin Capital Management also closed out a short position against GameStop at a 100% loss.
GameStop is not the only short bet that has turned sour. BlackBerry BB.TO, Bed Bath & Beyond BBBY.O, AMC AMC.N, Macy's M.N and Cinemark Holdings CNK.N, have all risen anywhere between 100% to 250% so far this year.
In Europe, Evotec EVTG.DE, Nokia NOKIA.HE and Varta VAR1.DE have outperformed the wider market 2021.
Matthew Leibowitz, CEO of digital brokerage Stake said GameStop's performance is indicative of hedge funds being caught on the wrong side of a momentum rally.
While they might have a valid theory in shorting the stock, the retail frenzy whipping it to record highs will hurt them.
"You might have an amazing gun, but its no use if you've run out of bullets."
Refinitiv data on performance of some stocks with high short interest:
Company
RIC
YTD rise
Short interest
GameStop
GME.N
700%
100%
AMC Entertainment
AMC.O
400%
100%
Bed Bath
BBBY.O
110%
62.8%
BlackBerry
BB.TO
250%
35.8%
Dillard's
DDS.O
100%
82%
Discovery
DISCA.O
35%
34%
Smallcap index outperforms S&P 500https://tmsnrt.rs/2YgFrnp
CBOEhttps://tmsnrt.rs/39phW29
(Reporting by Thyagaraju Adinarayan and Saikat Chatterjee; editing by Sujata Rao and Kirsten Donovan)
((thyagaraju.adinarayan@tr.com; +44 20 7542 7015; Reuters Messaging: thyagaraju.adinarayan.thomsonreuters.com@reuters.net; Twitter @thyagu))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Thyagaraju Adinarayan and Saikat Chatterjee LONDON, Jan 27 (Reuters) - Global bets worth billions of dollars could be at risk as amateur share traders challenge the bearish positions of influential funds, inflating stock valuations and leaving the professionals looking at potentially hefty losses. Shares of the 20 small-cap Russell 2000 index companies .RUT with the biggest bearish bets against them have risen 60% on average so far this year, easily outperforming the rest of the market, a Reuters analysis of Refinitiv data shows. Several traders have told Reuters that one of the reasons for the jump in the price of some shares is short-sellers buying back into the stock to cover potential losses -- the classic short-squeeze -- drawing in more retail investors hoping to ride the wave.
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By Thyagaraju Adinarayan and Saikat Chatterjee LONDON, Jan 27 (Reuters) - Global bets worth billions of dollars could be at risk as amateur share traders challenge the bearish positions of influential funds, inflating stock valuations and leaving the professionals looking at potentially hefty losses. Several traders have told Reuters that one of the reasons for the jump in the price of some shares is short-sellers buying back into the stock to cover potential losses -- the classic short-squeeze -- drawing in more retail investors hoping to ride the wave. Refinitiv data on performance of some stocks with high short interest: Company
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By Thyagaraju Adinarayan and Saikat Chatterjee LONDON, Jan 27 (Reuters) - Global bets worth billions of dollars could be at risk as amateur share traders challenge the bearish positions of influential funds, inflating stock valuations and leaving the professionals looking at potentially hefty losses. Shares of the 20 small-cap Russell 2000 index companies .RUT with the biggest bearish bets against them have risen 60% on average so far this year, easily outperforming the rest of the market, a Reuters analysis of Refinitiv data shows. But share price surges such as the 700% year-to-date jump in U.S. video game retailer GameStop GME.N could potentially wipe out billions of dollars of those short bets.
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And so when markets run against you, you are stopped out if you are a short seller," said Kaspar Hense, a fund manager at BlueBay Asset Management, which runs $60 billion in assets. BlackBerry BB.TO, Bed Bath & Beyond BBBY.O, AMC AMC.N, Macy's M.N and Cinemark Holdings CNK.N, have all risen anywhere between 100% to 250% so far this year. Refinitiv data on performance of some stocks with high short interest: Company
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a1c07277-9bf6-4e56-81fc-c8950bc56e91
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719510.0
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2021-01-27 00:00:00 UTC
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The big short: GameStop effect puts global bets worth billions at risk
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DDS
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https://www.nasdaq.com/articles/the-big-short%3A-gamestop-effect-puts-global-bets-worth-billions-at-risk-2021-01-27
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nan
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nan
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By Thyagaraju Adinarayan and Saikat Chatterjee
LONDON, Jan 27 (Reuters) - Global bets worth billions of dollars could be at risk as amateur share traders challenge the bearish positions of influential funds, inflating stock valuations and leaving the professionals looking at potentially hefty losses.
Gone are the days when bruised retail investors fled after prominent hedge funds bet against a stock -- the GameStop GME.N effect is rippling across U.S. markets and spreading to Europe.
Shares of the 20 small-cap Russell 2000 index companies .RUT with the biggest bearish bets against them have risen 60% on average so far this year, easily outperforming the rest of the market, a Reuters analysis of Refinitiv data shows.
Similarly, the best performers in Britain this week have been companies such as Pearson PSON.L and Cineworld CINE.L, in which investors also have sizeable short positions.
But share price surges such as the 700% year-to-date jump in U.S. video game retailer GameStop GME.N could potentially wipe out billions of dollars of those short bets.
Bets against GameStop alone amounted to more than $2.2 billion as of Monday, FIS' Analytics data showed, equivalent to more than a fifth of the company's market value.
However, the company's share price has quadrupled since the end of last week, reaching as much as $340 in U.S. pre-market trading on Wednesday.
"Most of the short positions are funded on margins. And so when markets run against you, you are stopped out if you are a short seller," said Kaspar Hense, a fund manager at BlueBay Asset Management, which runs $60 billion in assets.
"A short position can exaggerate your losses if you are not actively managing your position."
Several traders have told Reuters that one of the reasons for the jump in the price of some shares is short-sellers buying back into the stock to cover potential losses -- the classic short-squeeze -- drawing in more retail investors hoping to ride the wave.
Short sellers typically borrow stocks to sell with a view to buying them back later when the price falls. The premium they pay to borrow the shares reflects the demand for them.
All the GameStop shares that would be available to borrow are are already out on loan, with traders estimating annual borrowing costs at 25%-50% of the company's share price.
Short-seller Andrew Left, who runs Citron Research and is one of the big names behind the bets against GameStop, shorted the stock when it traded around $40, expecting it to halve in value. He still has a short bet although he has covered the majority of the position at a 100% loss.
Melvin Capital Management also closed out a short position against GameStop at a 100% loss.
GameStop is not the only short bet that has turned sour. BlackBerry BB.TO, Bed Bath & Beyond BBBY.O, AMC AMC.N, Macy's M.N and Cinemark Holdings CNK.N, have all risen anywhere between 100% to 250% so far this year.
In Europe, Evotec EVTG.DE, Nokia NOKIA.HE and Varta VAR1.DE have outperformed the wider market 2021.
Refinitiv data on performance of some stocks with high short interest:
Company
RIC
YTD rise
Short interest
GameStop
GME.N
700%
100%
AMC Entertainment
AMC.O
400%
100%
Bed Bath
BBBY.O
110%
62.8%
BlackBerry
BB.TO
250%
35.8%
Dillard's
DDS.O
100%
82%
Discovery
DISCA.O
35%
34%
Smallcap index outperforms S&P 500https://tmsnrt.rs/2YgFrnp
(Reporting by Thyagaraju Adinarayan and Saikat Chatterjee; editing by Sujata Rao and Kirsten Donovan)
((thyagaraju.adinarayan@tr.com; +44 20 7542 7015; Reuters Messaging: thyagaraju.adinarayan.thomsonreuters.com@reuters.net; Twitter @thyagu))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By Thyagaraju Adinarayan and Saikat Chatterjee LONDON, Jan 27 (Reuters) - Global bets worth billions of dollars could be at risk as amateur share traders challenge the bearish positions of influential funds, inflating stock valuations and leaving the professionals looking at potentially hefty losses. Shares of the 20 small-cap Russell 2000 index companies .RUT with the biggest bearish bets against them have risen 60% on average so far this year, easily outperforming the rest of the market, a Reuters analysis of Refinitiv data shows. Several traders have told Reuters that one of the reasons for the jump in the price of some shares is short-sellers buying back into the stock to cover potential losses -- the classic short-squeeze -- drawing in more retail investors hoping to ride the wave.
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By Thyagaraju Adinarayan and Saikat Chatterjee LONDON, Jan 27 (Reuters) - Global bets worth billions of dollars could be at risk as amateur share traders challenge the bearish positions of influential funds, inflating stock valuations and leaving the professionals looking at potentially hefty losses. And so when markets run against you, you are stopped out if you are a short seller," said Kaspar Hense, a fund manager at BlueBay Asset Management, which runs $60 billion in assets. Several traders have told Reuters that one of the reasons for the jump in the price of some shares is short-sellers buying back into the stock to cover potential losses -- the classic short-squeeze -- drawing in more retail investors hoping to ride the wave.
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By Thyagaraju Adinarayan and Saikat Chatterjee LONDON, Jan 27 (Reuters) - Global bets worth billions of dollars could be at risk as amateur share traders challenge the bearish positions of influential funds, inflating stock valuations and leaving the professionals looking at potentially hefty losses. But share price surges such as the 700% year-to-date jump in U.S. video game retailer GameStop GME.N could potentially wipe out billions of dollars of those short bets. BlackBerry BB.TO, Bed Bath & Beyond BBBY.O, AMC AMC.N, Macy's M.N and Cinemark Holdings CNK.N, have all risen anywhere between 100% to 250% so far this year.
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All the GameStop shares that would be available to borrow are are already out on loan, with traders estimating annual borrowing costs at 25%-50% of the company's share price. He still has a short bet although he has covered the majority of the position at a 100% loss. BlackBerry BB.TO, Bed Bath & Beyond BBBY.O, AMC AMC.N, Macy's M.N and Cinemark Holdings CNK.N, have all risen anywhere between 100% to 250% so far this year.
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a709c6a3-848f-4802-b802-77ae8706ea20
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719511.0
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2021-01-26 00:00:00 UTC
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Retail trading frenzy sparks jitters for noted GameStop short-seller
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DDS
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https://www.nasdaq.com/articles/retail-trading-frenzy-sparks-jitters-for-noted-gamestop-short-seller-2021-01-26
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nan
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nan
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By Svea Herbst-Bayliss
BOSTON, Jan 26 (Reuters) - Short-seller Andrew Left does not usually smoke. But on Monday he had a cigarette to calm his nerves as shares of GameStop Corp GME.N, the stock he had shorted, continued to rocket higher.
Left, who has built a reputation by targeting companies he thinks are overvalued, is as convinced as ever that videogame retailer GameStop is a dying business whose stock price will fall sharply someday. He said on Tuesday he is still short the stock, which means he has bet that the price will fall, and more convinced than ever of his position.
"If I had never been involved in GameStop and came to this right now, would I still be short this stock? 100 percent," Left, who runs Citron Research and a hedge fund, told Reuters on Tuesday. "This is an old school, failing mall-based video retailer and investors can't change the perception of that."
GameStop did not immediately respond to a Reuters request for comment.
Shares of GameStop jumped 22% on Tuesday after surging 144% a day earlier, as individual investors again piled into a number of niche stocks, prompting short sellers to scramble to cover losing bets.
Left shorted the company's stock - selling borrowed shares in a bet that the price will fall and that the shares can be bought back at a lower level - when it traded around $40 a share and forecast publicly that it would tumble to $20 a share.
Since Left spoke out publicly about GameStop earlier this month, other investors have turned out en masse to take the other side of short-sellers' bets, forcing the stock up some 308% this year to trade at $112.45, or up 47% on Tuesday.
Along the way, Left said he has been threatened - although he declined to specify how - and asked authorities to investigate.
"Everyone thinks this stock sucks and the only reason people are buying it and own it is that for them it is a game."
He added, "I created this game, based on uncovering the truths ... so I can't get mad at people for taking the other side."
The market fury, however, is something that Left, who has been posting his research for two decades and has taken on prominent hedge fund managers like Bill Ackman at companies like Valeant, has not seen before.
Short selling is something every hedge fund is technically able to do but only a handful of firms - including Citron, Jim Chanos' Kynikos Associates, Carson Block's Muddy Waters Research, and Ben Axler's Spruce Point Capital Management - specialize in.
Many hedge funds acknowledged over the last months that shorting had hurt their performance and Melvin Capital, a $13 billion hedge fund, on Monday received a financial lifeline from hedge funds Citadel and Point72 Asset Management after having been deeply hurt by short bets that went the other way.
The pain continues for short investors as some of the market's most shorted stocks like retailers Bed Bath & Beyond BBBY.O and Dillard's Inc DDS.N have marched higher in the last days.
"I don't smoke but yesterday I was outside smoking a cigarette," Left acknowledged with a laugh, explaining his current stress. Last year his two-year-old fund returned 155%, after gaining 43% in 2019.
This year the Citron fund is off 2.5% since the beginning of January, Left said. "This kind of situation teaches you proper allocation," he said.
(Reporting by Svea Herbst-Bayliss in Boston Editing by Megan Davies and Matthew Lewis)
((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters Messaging: svea.herbst.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The pain continues for short investors as some of the market's most shorted stocks like retailers Bed Bath & Beyond BBBY.O and Dillard's Inc DDS.N have marched higher in the last days. Shares of GameStop jumped 22% on Tuesday after surging 144% a day earlier, as individual investors again piled into a number of niche stocks, prompting short sellers to scramble to cover losing bets. Since Left spoke out publicly about GameStop earlier this month, other investors have turned out en masse to take the other side of short-sellers' bets, forcing the stock up some 308% this year to trade at $112.45, or up 47% on Tuesday.
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The pain continues for short investors as some of the market's most shorted stocks like retailers Bed Bath & Beyond BBBY.O and Dillard's Inc DDS.N have marched higher in the last days. By Svea Herbst-Bayliss BOSTON, Jan 26 (Reuters) - Short-seller Andrew Left does not usually smoke. 100 percent," Left, who runs Citron Research and a hedge fund, told Reuters on Tuesday.
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The pain continues for short investors as some of the market's most shorted stocks like retailers Bed Bath & Beyond BBBY.O and Dillard's Inc DDS.N have marched higher in the last days. Left shorted the company's stock - selling borrowed shares in a bet that the price will fall and that the shares can be bought back at a lower level - when it traded around $40 a share and forecast publicly that it would tumble to $20 a share. Since Left spoke out publicly about GameStop earlier this month, other investors have turned out en masse to take the other side of short-sellers' bets, forcing the stock up some 308% this year to trade at $112.45, or up 47% on Tuesday.
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The pain continues for short investors as some of the market's most shorted stocks like retailers Bed Bath & Beyond BBBY.O and Dillard's Inc DDS.N have marched higher in the last days. By Svea Herbst-Bayliss BOSTON, Jan 26 (Reuters) - Short-seller Andrew Left does not usually smoke. 100 percent," Left, who runs Citron Research and a hedge fund, told Reuters on Tuesday.
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6ed860e5-f3c2-4908-8760-d05b586df6ab
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719512.0
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2021-01-10 00:00:00 UTC
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Macy's Store Closures Could Help This Rival
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DDS
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https://www.nasdaq.com/articles/macys-store-closures-could-help-this-rival-2021-01-10
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nan
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nan
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Last week, Macy's (NYSE: M) announced that it will close about 30 more full-line stores over the next few months. This marks the second major round of closings under a three-year plan to shrink the Macy's full-line store fleet by nearly 25%. The top U.S. department store operator is exiting small and midsize markets and shuttering its lower-productivity stores in big metro areas in favor of a focus on its best-located stores in big markets and its e-commerce business.
But while Macy's has decided it needs to retrench, one of its main rivals has become fairly adept at operating low-volume stores. That could allow Dillard's (NYSE: DDS) to capitalize on its competitor's downsizing.
Facing off with two completely different strategies
At first glance, Macy's and Dillard's seem quite similar. Both companies operate large-format department stores, primarily in regional malls. They are positioned as higher-end brands than the likes of J.C. Penney and Belk, but more affordable than Nordstrom. Indeed, Macy's and Dillard's often compete for the same customers in markets where both chains operate.
Image source: Macy's.
However, the similarities end there. In fiscal 2019, Macy's spent $2.3 billion -- more than 9% of its revenue -- on capital expenditures and advertising. These costs effectively represent investments to entice customers to visit Macy's stores and make purchases through its digital channels. To cover these costs, Macy's needs its stores to ring up high sales volumes and thereby churn out strong profits.
By contrast, Dillard's spent just $143 million on capex and advertising during fiscal 2019: barely more than 2% of sales. The company hasn't invested much in technology, either for its stores or its e-commerce operations. (Dillard's doesn't even have a mobile app.) The regional department store chain doesn't spend much money trying to acquire new customers, either, relying instead on repeat business from loyal customers and walk-by traffic at the malls where its stores are located.
With much lower overhead costs, Dillard's doesn't need the same level of sales productivity or store-level profitability as Macy's to make money. In fact, Dillard's reported retail sales per square foot of just $127 in fiscal 2019. For comparison, the bottom quintile of Macy's stores -- as measured by store-level profitability -- averaged sales per square foot of $128 in fiscal 2019. (The rest of the chain averaged sales per square foot of more than $200.) Macy's classified two-thirds of the stores in that bottom quintile as "neighborhood" locations that are in line to be closed by the end of 2022.
Ready to capture business from Macy's
Dillard's operates at 10 of the malls where Macy's is closing stores in early 2021, excluding Paradise Valley Mall in Phoenix, where both chains are closing their stores ahead of a large-scale redevelopment.
Image source: Author.
Given the similarity in the two chains' merchandise mixes, Dillard's is likely to capture a meaningful slice of the business that formerly went to Macy's in these locations. This is especially true in markets where Macy's is closing its only store, such as Daytona Beach, Florida; Port Charlotte, Florida; Idaho Falls, Idaho; and College Station, Texas.
Macy's bottom-quintile stores generated an average of $14.9 million of sales during fiscal 2019. This suggests that Dillard's could add tens of millions of dollars to its top line by capturing 15% of Macy's pre-pandemic sales from the stores being closed in malls where Dillard's also operates. Moreover, Macy's will still have about 60 neighborhood locations after completing the current round of store closures. As those stores close later this year or in 2022, it will expand Dillard's opportunity for market share gains.
Could Dillard's respond by opening new stores?
The biggest benefit to Dillard's from Macy's downsizing will come from gaining incremental sales in stores that overlap with locations the latter is closing. However, in certain cases, it could also look to open new stores at malls that its chief rival is leaving. For example, Dillard's plans to open a store in late 2021 at University Place in Orem, Utah, taking over an anchor spot that Macy's vacated in 2019. (Dillard's is also opening a new store in Grand Junction, Colorado this year on the site of a former Sears.)
Many mall owners will aim to fill anchor vacancies quickly in the years ahead in order to keep their properties healthy. This could enable Dillard's to open new stores in attractive markets at a very reasonable cost.
Dillard's certainly isn't immune to the pressure facing many retailers, particularly department stores. But with a business model well-suited to small and midsize markets and the ability to profitably operate low-productivity stores, Dillard's could be a near-term winner in the retail sector.
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Adam Levine-Weinberg owns shares of Dillard's, Macy's, and Nordstrom and is short May 2021 $14 calls on Macy's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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That could allow Dillard's (NYSE: DDS) to capitalize on its competitor's downsizing. These costs effectively represent investments to entice customers to visit Macy's stores and make purchases through its digital channels. For example, Dillard's plans to open a store in late 2021 at University Place in Orem, Utah, taking over an anchor spot that Macy's vacated in 2019.
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That could allow Dillard's (NYSE: DDS) to capitalize on its competitor's downsizing. For comparison, the bottom quintile of Macy's stores -- as measured by store-level profitability -- averaged sales per square foot of $128 in fiscal 2019. Ready to capture business from Macy's Dillard's operates at 10 of the malls where Macy's is closing stores in early 2021, excluding Paradise Valley Mall in Phoenix, where both chains are closing their stores ahead of a large-scale redevelopment.
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That could allow Dillard's (NYSE: DDS) to capitalize on its competitor's downsizing. The top U.S. department store operator is exiting small and midsize markets and shuttering its lower-productivity stores in big metro areas in favor of a focus on its best-located stores in big markets and its e-commerce business. Ready to capture business from Macy's Dillard's operates at 10 of the malls where Macy's is closing stores in early 2021, excluding Paradise Valley Mall in Phoenix, where both chains are closing their stores ahead of a large-scale redevelopment.
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That could allow Dillard's (NYSE: DDS) to capitalize on its competitor's downsizing. Indeed, Macy's and Dillard's often compete for the same customers in markets where both chains operate. For comparison, the bottom quintile of Macy's stores -- as measured by store-level profitability -- averaged sales per square foot of $128 in fiscal 2019.
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2736f52e-0a87-4700-bdff-810439abaf79
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719513.0
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2021-01-04 00:00:00 UTC
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Nordstrom Stock Looks Attractive
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DDS
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https://www.nasdaq.com/articles/nordstrom-stock-looks-attractive-2021-01-04
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nan
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nan
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Nordstrom’s stock (NYSE: JWN), the upscale specialty retailer offering apparel, shoes, cosmetics, and accessories for women, men, and children, became vulnerable due to its non-essential product assortment during the pandemic. Consequently, the company’s stock has lost 24% of its value so far this year, and currently stands at around $31. However, we believe it to be a good time to enter this stock as it could see a strong upside once the Covid-19 fear abates. This is taking into account the company’s better-than-expected Q3 performance, Covid vaccine news, growing digital presence, and a $1.5 billion of total available liquidity. Our conclusion is based on our detailed comparison of Nordstrom’s stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.
In Q3, the retailer posted surprise earnings per share of $0.34, down 54% year-over-year, but easily beating analyst expectations of a loss of $0.06 – showing that the company has adapted to difficult conditions during the pandemic. It should also be noted that digital sales were a bright spot in the recent quarter, increasing 37% y-o-y and making up 54% of total sales. Going forward, Nordstrom plans to continue chasing growth in stronger merchandise categories like activewear, beauty, and home. In fact, it can also benefit from a rebound in sales of dressier apparel styles as people return to the office and start going to big social events again post Covid.
2020 Coronavirus Crisis
Timeline of 2020 Crisis So Far:
12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500 drops 34% from the peak level seen on Feb 19, as Covid-19 cases accelerate outside China. Doesn’t help that oil prices crash in mid-March amid a Saudi-led price war
Since 3/24/2020: S&P 500 recovers 63% from the lows seen on Mar 23, as the Fed’s multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
Nordstrom’s Performance During 2020 Coronavirus
JWN stock declined from levels of around $41 in mid-February (the pre-crisis peak) to roughly around $16 as of March 23 (as the markets bottomed out) – implying that the stock lost as much as 62% of its value from its approximate pre-crisis peak. It then rallied to levels of around $31, rising by 99% since March 23. However, it is still down 24% from levels of around $41 seen in early January.
S&P 500 Index Performance During 2020 Coronavirus/Oil Price War Crisis
The S&P 500 index declined from levels of around 3,386 in mid-Feb (pre-crisis peak) to levels of around 2,237 as of Mar 23 (as the markets bottomed out), implying the index lost 34% of its value from its approximate pre-crisis peak. It then rallied to levels of about 3,739 currently, rising by 67% since Mar 23. It is also up 16% from levels of 3,231 seen in early January.
2007-08 Financial Crisis
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index
9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)
3/1/2009: Approximate bottoming out of S&P 500 index
1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008)
Nordstrom’s Stock Performance Over 2007-08 Financial Crisis
JWN stock witnessed something similar during the 2008 downturn. JWN stock declined from levels of around $48 in October 2007 (the pre-crisis peak) to roughly $13 in March 2009 (as the markets bottomed out) – implying that the stock lost as much as 72% of its value from its approximate pre-crisis peak. However, JWN stock recovered post the 2008 crisis, to levels of about $38 in early 2010, rising by 179% between March 2009 and January 2010.
S&P 500 Performance Over The 2007-08 Financial Crisis
S&P 500 Index fell 51% from levels of 1,540 in September 2007 to 757 in March 2009. It then rallied to levels of 1,124 – rising by about 48% between March 2009 and January 2010.
Fundamentals
How Do Nordstrom’s Fundamentals Look In Recent Years?
Nordstrom’s revenues grew 4% from $14.5 Bil in 2016 to $15.1 Bil in 2019. In addition, earnings growth, on a per-share basis, was higher by 57% between 2016 and 2019.
Survival Check
Does Nordstrom’s Have A Sufficient Cash Cushion To Meet Its Obligations Through The Coronavirus Crisis?
Nordstrom’s total debt declined from $2.8 billion in 2016 to $2.7 billion in 2019, while its total cash was around $900 million in 2019. The company also generated close to $1.2 billion in cash from its operations in 2019.
CONCLUSION
Phases of Covid-19 crisis:
Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally
Late-March 2020 onward: Social distancing measures + lockdowns
April 2020: Fed stimulus suppresses near-term survival anxiety
May-June 2020: Recovery of demand, with the gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases
July-November 2020: Weak Q2 and Q3 results, but continued improvement in demand and progress with vaccine development buoy market sentiment
Despite the recent surge in the number of new Covid-19 cases in the U.S., we expect continued improvement in demand to buoy market expectations. As investors focus their attention on expected 2021 results, we believe Nordstrom’s stock has the potential for strong gains once fears surrounding the Covid outbreak are put to rest.
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.
See all Trefis Price Estimates and Download Trefis Data here
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Nordstrom’s stock (NYSE: JWN), the upscale specialty retailer offering apparel, shoes, cosmetics, and accessories for women, men, and children, became vulnerable due to its non-essential product assortment during the pandemic. In Q3, the retailer posted surprise earnings per share of $0.34, down 54% year-over-year, but easily beating analyst expectations of a loss of $0.06 – showing that the company has adapted to difficult conditions during the pandemic. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with the gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases July-November 2020: Weak Q2 and Q3 results, but continued improvement in demand and progress with vaccine development buoy market sentiment Despite the recent surge in the number of new Covid-19 cases in the U.S., we expect continued improvement in demand to buoy market expectations.
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Doesn’t help that oil prices crash in mid-March amid a Saudi-led price war Since 3/24/2020: S&P 500 recovers 63% from the lows seen on Mar 23, as the Fed’s multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system. 2007-08 Financial Crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Nordstrom’s Stock Performance Over 2007-08 Financial Crisis JWN stock witnessed something similar during the 2008 downturn. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with the gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases July-November 2020: Weak Q2 and Q3 results, but continued improvement in demand and progress with vaccine development buoy market sentiment Despite the recent surge in the number of new Covid-19 cases in the U.S., we expect continued improvement in demand to buoy market expectations.
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Nordstrom’s Performance During 2020 Coronavirus JWN stock declined from levels of around $41 in mid-February (the pre-crisis peak) to roughly around $16 as of March 23 (as the markets bottomed out) – implying that the stock lost as much as 62% of its value from its approximate pre-crisis peak. S&P 500 Index Performance During 2020 Coronavirus/Oil Price War Crisis The S&P 500 index declined from levels of around 3,386 in mid-Feb (pre-crisis peak) to levels of around 2,237 as of Mar 23 (as the markets bottomed out), implying the index lost 34% of its value from its approximate pre-crisis peak. 2007-08 Financial Crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Nordstrom’s Stock Performance Over 2007-08 Financial Crisis JWN stock witnessed something similar during the 2008 downturn.
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2020 Coronavirus Crisis Timeline of 2020 Crisis So Far: 12/12/2019: Coronavirus cases first reported in China 1/31/2020: WHO declares a global health emergency. 2007-08 Financial Crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Nordstrom’s Stock Performance Over 2007-08 Financial Crisis JWN stock witnessed something similar during the 2008 downturn. However, JWN stock recovered post the 2008 crisis, to levels of about $38 in early 2010, rising by 179% between March 2009 and January 2010.
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60778d92-f51c-4376-aa3f-5a481ae9b817
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719514.0
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2020-12-29 00:00:00 UTC
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Dillard's, Inc. (DDS) Ex-Dividend Date Scheduled for December 30, 2020
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DDS
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https://www.nasdaq.com/articles/dillards-inc.-dds-ex-dividend-date-scheduled-for-december-30-2020-2020-12-29
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nan
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nan
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Dillard's, Inc. (DDS) will begin trading ex-dividend on December 30, 2020. A cash dividend payment of $0.15 per share is scheduled to be paid on February 01, 2021. Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 6th quarter that DDS has paid the same dividend. At the current stock price of $62.01, the dividend yield is .97%.
The previous trading day's last sale of DDS was $62.01, representing a -16.97% decrease from the 52 week high of $74.68 and a 188.41% increase over the 52 week low of $21.50.
DDS is a part of the Consumer Services sector, which includes companies such as Walmart Inc. (WMT) and Costco Wholesale Corporation (COST). DDS's current earnings per share, an indicator of a company's profitability, is -$3.13.
For more information on the declaration, record and payment dates, visit the DDS Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. DDS is a part of the Consumer Services sector, which includes companies such as Walmart Inc. (WMT) and Costco Wholesale Corporation (COST). For more information on the declaration, record and payment dates, visit the DDS Dividend History page.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. For more information on the declaration, record and payment dates, visit the DDS Dividend History page. Dillard's, Inc. (DDS) will begin trading ex-dividend on December 30, 2020.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 6th quarter that DDS has paid the same dividend. For more information on the declaration, record and payment dates, visit the DDS Dividend History page.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. Dillard's, Inc. (DDS) will begin trading ex-dividend on December 30, 2020. This marks the 6th quarter that DDS has paid the same dividend.
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75c948e3-f37a-416a-a934-b16a8f381e6c
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719515.0
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2020-12-23 00:00:00 UTC
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Dillard's Stock Looks Attractive At $52
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DDS
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https://www.nasdaq.com/articles/dillards-stock-looks-attractive-at-%2452-2020-12-23
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nan
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nan
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Dillard’s stock (NYSE: DDS), the apparel and home furnishings retailer, became vulnerable due to its non-essential product assortment and mall-based locations during the pandemic. Consequently, the company’s stock has lost 29% of its value so far this year, and currently stands at around $52. However, we believe it to be a good time to enter this stock as it could see a strong upside once the Covid-19 fear abates. This is taking into account the company’s better-than-expected Q2 and Q3 performance, Covid vaccine news, the low debt of only $581 million, and massive real estate holdings. Our conclusion is based on our detailed comparison of Dillard’s stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.
Dillard’s profitability jumped from $0.22 per share in Q3 2019 to $1.43 in Q3 2020, despite revenues falling 26% during the same period – due to a gross margin increase of 250 basis points along with expense reductions, thanks to its strong inventory management.
2020 Coronavirus Crisis
Timeline of 2020 Crisis So Far:
12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500 drops 34% from the peak level seen on Feb 19, as Covid-19 cases accelerate outside China. Doesn’t help that oil prices crash in mid-March amid a Saudi-led price war
Since 3/24/2020: S&P 500 recovers 63% from the lows seen on Mar 23, as the Fed’s multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
Dillard’s Performance During 2020 Coronavirus
DDS stock declined from levels of around $64 in mid-February (the pre-crisis peak) to roughly around $36 as of March 23 (as the markets bottomed out) – implying that the stock lost as much as 45% of its value from its approximate pre-crisis peak. It then rallied to levels of over $52, rising by 47% since March 23. However, it is still down 29% from levels of around $73 seen in early January.
S&P 500 Index Performance During 2020 Coronavirus/Oil Price War Crisis
The S&P 500 index declined from levels of around 3,386 in mid-Feb (pre-crisis peak) to levels of around 2,237 as of Mar 23 (as the markets bottomed out), implying the index lost 34% of its value from its approximate pre-crisis peak. It then rallied to levels of about 3,702 currently, rising by 66% since Mar 23. It is also up 15% from levels of 3,231 seen in early January.
2007-08 Financial Crisis
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index
9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)
3/1/2009: Approximate bottoming out of S&P 500 index
1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008)
Dillard’s Stock Performance Over 2007-08 Financial Crisis
DDS stock witnessed something similar during the 2008 downturn. DDS stock declined from levels of around $22 in October 2007 (the pre-crisis peak) to roughly $4 in March 2009 (as the markets bottomed out) – implying that the stock lost as much as 84% of its value from its approximate pre-crisis peak. However, DDS stock recovered post the 2008 crisis, to levels of about $19 in early 2010, rising by 420% between March 2009 and January 2010.
S&P 500 Performance Over The 2007-08 Financial Crisis
S&P 500 Index fell 51% from levels of 1,540 in September 2007 to 757 in March 2009. It then rallied to levels of 1,124 – rising by about 48% between March 2009 and January 2010.
Fundamentals
How Do Dillard’s Fundamentals Look In Recent Years?
Dillard’s revenues declined 2% from $6.4 Bil in 2016 to $6.3 Bil in 2019. In addition, earnings growth, on a per-share basis, was lower by 11% between 2016 and 2019.
Survival Check
Does Dillard’s Have A Sufficient Cash Cushion To Meet Its Obligations Through The Coronavirus Crisis?
Dillard’s total debt declined from $613 million in 2016 to $366 million in 2019, while its total cash was $277 million in 2019. The company also generates close to $365 million in cash from its operations. It appears to be in a good position to weather the crisis.
CONCLUSION
Phases of Covid-19 crisis:
Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally
Late-March 2020 onward: Social distancing measures + lockdowns
April 2020: Fed stimulus suppresses near-term survival anxiety
May-June 2020: Recovery of demand, with the gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases
July-November 2020: Weak Q2 and Q3 results, but continued improvement in demand and progress with vaccine development buoy market sentiment
Despite the recent surge in the number of new Covid-19 cases in the U.S., we expect continued improvement in demand to buoy market expectations. As investors focus their attention on expected 2021 results, we believe Dillard’s stock has the potential for strong gains once fears surrounding the Covid outbreak are put to rest.
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.
See all Trefis Price Estimates and Download Trefis Data here
What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard’s stock (NYSE: DDS), the apparel and home furnishings retailer, became vulnerable due to its non-essential product assortment and mall-based locations during the pandemic. Dillard’s Performance During 2020 Coronavirus DDS stock declined from levels of around $64 in mid-February (the pre-crisis peak) to roughly around $36 as of March 23 (as the markets bottomed out) – implying that the stock lost as much as 45% of its value from its approximate pre-crisis peak. 2007-08 Financial Crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Dillard’s Stock Performance Over 2007-08 Financial Crisis DDS stock witnessed something similar during the 2008 downturn.
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2007-08 Financial Crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Dillard’s Stock Performance Over 2007-08 Financial Crisis DDS stock witnessed something similar during the 2008 downturn. Dillard’s stock (NYSE: DDS), the apparel and home furnishings retailer, became vulnerable due to its non-essential product assortment and mall-based locations during the pandemic. Dillard’s Performance During 2020 Coronavirus DDS stock declined from levels of around $64 in mid-February (the pre-crisis peak) to roughly around $36 as of March 23 (as the markets bottomed out) – implying that the stock lost as much as 45% of its value from its approximate pre-crisis peak.
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Dillard’s Performance During 2020 Coronavirus DDS stock declined from levels of around $64 in mid-February (the pre-crisis peak) to roughly around $36 as of March 23 (as the markets bottomed out) – implying that the stock lost as much as 45% of its value from its approximate pre-crisis peak. 2007-08 Financial Crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Dillard’s Stock Performance Over 2007-08 Financial Crisis DDS stock witnessed something similar during the 2008 downturn. Dillard’s stock (NYSE: DDS), the apparel and home furnishings retailer, became vulnerable due to its non-essential product assortment and mall-based locations during the pandemic.
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However, DDS stock recovered post the 2008 crisis, to levels of about $19 in early 2010, rising by 420% between March 2009 and January 2010. Dillard’s stock (NYSE: DDS), the apparel and home furnishings retailer, became vulnerable due to its non-essential product assortment and mall-based locations during the pandemic. Dillard’s Performance During 2020 Coronavirus DDS stock declined from levels of around $64 in mid-February (the pre-crisis peak) to roughly around $36 as of March 23 (as the markets bottomed out) – implying that the stock lost as much as 45% of its value from its approximate pre-crisis peak.
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f1953568-4f72-4c34-8a12-5e54eb2b1d07
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719516.0
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2020-12-02 00:00:00 UTC
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This Department Store Stock Could Soar in 2021
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DDS
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https://www.nasdaq.com/articles/this-department-store-stock-could-soar-in-2021-2020-12-02
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nan
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nan
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The COVID-19 pandemic has had a devastating impact on many businesses. Department stores have been among the biggest losers due to their focus on selling apparel and continued reliance on in-store sales, often in malls.
One U.S. department store chain has actually improved its earnings year over year for two consecutive quarters, however: Dillard's (NYSE: DDS). Nevertheless, Dillard's stock ended November down 36% year to date. As the retail industry recovers in 2021, this department store stock could surge to a multiyear high.
Dillard's stock performance. Data by YCharts.
Inventory discipline powers better results
The pandemic has forced Dillard's to manage its inventory much more carefully than in years past. The retailer entered fiscal 2020 with inventory down 4% year over year. By the end of the first fiscal quarter in early May, inventory was down 14%. Dillard's exited the second fiscal quarter with inventory down 20%. By the end of Q3, inventory was 22% lower year over year.
This tight inventory management has allowed Dillard's to cut back on clearance discounts despite having unusually low traffic in its stores. In the second quarter, retail gross margin increased by 2.4 percentage points year over year despite a 35% drop in retail sales. Dillard's third-quarter performance was similar: retail sales fell 25%, but retail gross margin improved by 2.1 percentage points year over year.
These gross margin increases -- along with big expense reductions -- enabled Dillard's to improve its profitability significantly on a year-over-year basis in the second quarter. Profit grew again last quarter, although it was roughly flat compared to Q3 2019 on a pre-tax basis. These were impressive results considering the top-line pressure Dillard's has experienced. With equal attention to inventory management, the retailer could potentially surpass its 2019 earnings even if revenue never fully recovers to pre-pandemic levels.
Dillard's is a cash cow -- and spends that cash predictably
Last year, Dillard's reported $114 million of pre-tax income, excluding asset sale gains. This translated to a meager 1.8% pre-tax margin. Net income totaled just $111 million, or $95 million excluding asset sale gains. However, Dillard's free cash flow typically outpaces its net income by a wide margin.
Dillard's net income vs. free cash flow. Data by YCharts.
There's a simple reason for this discrepancy: Dillard's manages capital spending tightly. Noncash depreciation and amortization expense has been running at around $220 million annually recently, but even before the pandemic, Dillard's was spending just $100 million to $150 million a year on capex. This cautious attitude toward capex is wise given that the department store industry is declining. Other department store chains that have invested more aggressively in their businesses have gotten poor returns from those investments. As a result, their shares have underperformed Dillard's stock over the past decade.
In recent years, Dillard's has usually generated about $250 million of free cash flow annually. Its quarterly dividend of $0.15 per share will cost it a mere $14 million this year. That leaves the vast majority of its cash flow available for debt reduction and share buybacks.
Between fiscal 2016 and fiscal 2019, Dillard's paid down $257 million of debt and spent $724 million on buybacks. It has a very clean balance sheet today, having ended Q3 with just $581 million of debt. As a result, investors can expect the company to continue devoting the majority of its free cash flow to buybacks.
Image source: Author.
Dillard's market cap is just over $1 billion. With profitability having equaled or exceeded 2019 levels in each of the last two quarters despite weak sales and vaccines on the way, it's quite possible that free cash flow will rebound to $250 million or more in fiscal 2021. That would enable Dillard's to shrink its share count rapidly, potentially triggering a short squeeze that could send the stock soaring.
A retailer or a real estate company?
Many investors may be skeptical of buying a department store stock, no matter how strong its cash flow. Dillard's business has been in decline for several years. What happens if the pace of decline accelerates? Fortunately, Dillard's offers investors an added margin of safety because of its massive real estate holdings.
As of the end of October, Dillard's liabilities totaled less than $2 billion. Meanwhile, the company had over $1.8 billion of current assets (mostly inventory): enough to settle virtually all of its liabilities. In effect, shareholders own Dillard's real estate virtually free and clear. These real estate holdings total 43.7 million square feet of owned store space (and thousands of acres of associated land), along with 3.9 million square feet of office, distribution, and storage space.
Dillard's store real estate includes quite a few locations in valuable A-grade malls. But even if most of its stores aren't very valuable for retail use, many could be repurposed as last-mile fulfillment centers, medical offices, or numerous other purposes. Others could be torn down and the land sold to multifamily developers. At a very modest average valuation of just $50 per square foot, Dillard's real estate portfolio would be worth nearly $2.4 billion -- more than double the company's current market cap.
No stock is a sure thing. Between Dillard's surprisingly good Q2 and Q3 results, its history of strong cash flow, and its massive real estate holdings, though, the odds are stacked in favor of this department store stock.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of November 20, 2020
Adam Levine-Weinberg owns shares of Dillard's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Between Dillard's surprisingly good Q2 and Q3 results, its history of strong cash flow, and its massive real estate holdings, though, the odds are stacked in favor of this department store stock. One U.S. department store chain has actually improved its earnings year over year for two consecutive quarters, however: Dillard's (NYSE: DDS). With profitability having equaled or exceeded 2019 levels in each of the last two quarters despite weak sales and vaccines on the way, it's quite possible that free cash flow will rebound to $250 million or more in fiscal 2021.
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One U.S. department store chain has actually improved its earnings year over year for two consecutive quarters, however: Dillard's (NYSE: DDS). Between Dillard's surprisingly good Q2 and Q3 results, its history of strong cash flow, and its massive real estate holdings, though, the odds are stacked in favor of this department store stock. Dillard's third-quarter performance was similar: retail sales fell 25%, but retail gross margin improved by 2.1 percentage points year over year.
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Between Dillard's surprisingly good Q2 and Q3 results, its history of strong cash flow, and its massive real estate holdings, though, the odds are stacked in favor of this department store stock. One U.S. department store chain has actually improved its earnings year over year for two consecutive quarters, however: Dillard's (NYSE: DDS). Dillard's third-quarter performance was similar: retail sales fell 25%, but retail gross margin improved by 2.1 percentage points year over year.
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One U.S. department store chain has actually improved its earnings year over year for two consecutive quarters, however: Dillard's (NYSE: DDS). Between Dillard's surprisingly good Q2 and Q3 results, its history of strong cash flow, and its massive real estate holdings, though, the odds are stacked in favor of this department store stock. As a result, their shares have underperformed Dillard's stock over the past decade.
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81fb98ab-1f18-4fc8-b8fe-39d10982a5bb
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719517.0
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2020-11-14 00:00:00 UTC
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This Department Store Chain Is Making Money Despite COVID-19
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DDS
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https://www.nasdaq.com/articles/this-department-store-chain-is-making-money-despite-covid-19-2020-11-14
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nan
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nan
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Three months ago, Dillard's (NYSE: DDS) reported that its profitability improved year over year in its fiscal second quarter, which ended Aug 1. While the regional department store chain still reported a small quarterly loss, this was a surprisingly good result, considering how the COVID-19 pandemic is crushing most department stores' revenue.
Notwithstanding the company's Q2 outperformance, retail analysts still had low expectations for its fiscal third quarter, which ended Oct. 31. On Thursday afternoon, Dillard's proved the doubters wrong again, posting a surprise quarterly profit.
Gross margin drives another earnings surprise
Inventory management was the key to Dillard's big fiscal Q2 earnings beat. The onset of the pandemic caused it to report a massive loss in the first quarter of its fiscal 2020, but aggressive inventory clearance measures did allow the retailer to exit the period with inventory down more than 14% year over year. That contrasted with the frequent inventory gluts that have hurt Dillard's gross margin in recent years.
Dillard's year-over-year inventory growth, data by YCharts.
As a result, while the chain's retail sales plunged 35% year over year in its fiscal Q2, retail gross margin increased to 31.1% from 28.7% in the prior-year period. Combined with sharp cost reductions, this paved the way for a $24 million year-over-year improvement in the company's adjusted pre-tax loss.
Just as importantly, Dillard's continued to clean up its inventory, exiting the period with inventory down 20% year over year. This enabled it to boost its retail gross margin to 36.6% in the fiscal third quarter from 34.5% a year earlier. That increase of 2.1 percentage points was particularly noteworthy because the department store chain faced a tougher year-over-year comparison in its Q3 than in its Q2.
Sales trends remained weak during the chain's third quarter but improved sequentially. Comparable sales fell 24% and total retail sales declined 25%. Once again, Dillard's was able to offset this sales pressure by tightly managing expenses. It reduced total retail expenses 24% year over year, keeping costs roughly flat as a percentage of revenue.
That was just enough to allow Dillard's to post a $2.5 million adjusted pre-tax profit for fiscal Q3, down from $3.2 million a year earlier. Under generally accepted accounting principles (GAAP), net income jumped to $31.9 million ($1.43 per share) from $5.5 million ($0.22 per share) a year earlier, due to tax benefits expected this year. The analysts' consensus had called for a loss of $0.86 per share.
Cash flow improves
In the first half of fiscal 2020, Dillard's burned $333 million of cash. While it's typical for the department store chain to be negative on that metric in the first half of the year, that result was considerably worse than its $57 million of cash burn in the first half of fiscal 2019.
By contrast, Dillard's generated over $200 million of free cash flow last quarter, reducing its year-to-date cash burn to $115 million. This compares to $48 million of cash burn in the first nine months of fiscal 2019. Strong cash flow last quarter helped Dillard's reduce its short-term borrowings dramatically -- both sequentially and on a year-over-year basis -- to just $15 million.
Investors are still underestimating Dillard's
Dillard's stock surged last month following news that Berkshire Hathaway portfolio manager Ted Weschler had purchased a sizable stake in the company with his own money. However, the stock has surrendered some of those gains in recent weeks, perhaps due to investors' growing concerns about the sharply rising numbers of U.S. COVID-19 cases.
Image source: Author.
Yet these concerns seem misguided. Dillard's exited its third quarter with inventory down 22% year over year -- its biggest inventory reduction yet. Even if sales trends slow sequentially in the current quarter (which is far from certain), the chain should be able to hold profitability roughly flat through a combination of gross margin expansion and tight cost management.
Looking ahead, recent news from the pharmaceutical industry suggests that effective COVID-19 vaccines could be broadly available within a year or less. Meanwhile, Dillard's will be facing less competition next year after a slew of store closures by its competitors. This sets the stage for a sales recovery in 2021, particularly in the second half of the year.
Analysts are currently forecasting that the retailer will post a small loss in fiscal 2021. But given that it's already generating earnings in line with (if not better than) its 2019 results, Dillard's could easily surpass its 2019 adjusted earnings per share of $3.56 next year, with further improvement likely in 2022 as sales continue to recover. This looks like a recipe for Dillard's stock to keep rallying.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of October 20, 2020
Adam Levine-Weinberg owns shares of Dillard's. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares) and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short December 2020 $210 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Three months ago, Dillard's (NYSE: DDS) reported that its profitability improved year over year in its fiscal second quarter, which ended Aug 1. Strong cash flow last quarter helped Dillard's reduce its short-term borrowings dramatically -- both sequentially and on a year-over-year basis -- to just $15 million. However, the stock has surrendered some of those gains in recent weeks, perhaps due to investors' growing concerns about the sharply rising numbers of U.S. COVID-19 cases.
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Three months ago, Dillard's (NYSE: DDS) reported that its profitability improved year over year in its fiscal second quarter, which ended Aug 1. As a result, while the chain's retail sales plunged 35% year over year in its fiscal Q2, retail gross margin increased to 31.1% from 28.7% in the prior-year period. It reduced total retail expenses 24% year over year, keeping costs roughly flat as a percentage of revenue.
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Three months ago, Dillard's (NYSE: DDS) reported that its profitability improved year over year in its fiscal second quarter, which ended Aug 1. The onset of the pandemic caused it to report a massive loss in the first quarter of its fiscal 2020, but aggressive inventory clearance measures did allow the retailer to exit the period with inventory down more than 14% year over year. Dillard's exited its third quarter with inventory down 22% year over year -- its biggest inventory reduction yet.
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Three months ago, Dillard's (NYSE: DDS) reported that its profitability improved year over year in its fiscal second quarter, which ended Aug 1. That contrasted with the frequent inventory gluts that have hurt Dillard's gross margin in recent years. As a result, while the chain's retail sales plunged 35% year over year in its fiscal Q2, retail gross margin increased to 31.1% from 28.7% in the prior-year period.
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719518.0
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2020-11-13 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Shift, Nio, InMed, Revlon, Disney, Cisco
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DDS
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-shift-nio-inmed-revlon-disney-cisco-2020-11-13
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
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Wall Street gained on Friday as Disney and Cisco's upbeat results brought the focus back to corporate earnings at the end of a volatile trading week that saw record surges in coronavirus cases and increased hopes of a working vaccine. .N
At 12:50 ET, the Dow Jones Industrial Average .DJI was up 1.05% at 29,386.94. The S&P 500 .SPX was up 0.97% at 3,571.16 and the Nasdaq Composite .IXIC was up 0.71% at 11,792.527. The top three S&P 500 .PG.INX percentage gainers: ** Valero Energy , up 7.7% ** Phillips 66 , up 7.6% ** Cisco Systems , up 7.2% The top three S&P 500 .PL.INX percentage losers: ** Cincinnati Financial Corp , down 5.5% ** Iron Mountain , down 2.7% ** NVIDIA Corp , down 1.9% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 22.8% ** Kensington Capital Acquisition Corp , up 18.9% ** Empire State Realty OP , up 18.6% The top three NYSE .PL.N percentage losers: ** Griffon Corp , down 20.3% ** Revlon Inc , down 14.4% ** American Well , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Urovant Sciences , up 93.4% ** CBAK Energy Technology Inc , up 62% ** Asia Pacific Wire & Cable Corp , up 52% The top three Nasdaq .PL.O percentage losers: ** TOMI Environmental Solutions , down 27.4% ** Shift Technologies , down 26.3% ** Allied Healthcare , down 26%
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BUZZ-Set to open at 2-year high after results beat
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** Dillard's DDS.N: up 4.5%
BUZZ-Up as lower discounting helps retailer post surprise profit
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The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.06%
Consumer Discretionary
.SPLRCD
up 0.95%
Consumer Staples
.SPLRCS
up 0.65%
Energy
.SPNY
up 3.14%
Financial
.SPSY
up 1.19%
Health
.SPXHC
up 1.08%
Industrial
.SPLRCI
up 1.56%
Information Technology
.SPLRCT
up 0.50%
Materials
.SPLRCM
up 1.15%
Real Estate
.SPLRCR
up 1.29%
Utilities
.SPLRCU
up 0.74%
(Compiled by Shreyasee Raj)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Valero Energy , up 7.7% ** Phillips 66 , up 7.6% ** Cisco Systems , up 7.2% The top three S&P 500 .PL.INX percentage losers: ** Cincinnati Financial Corp , down 5.5% ** Iron Mountain , down 2.7% ** NVIDIA Corp , down 1.9% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 22.8% ** Kensington Capital Acquisition Corp , up 18.9% ** Empire State Realty OP , up 18.6% The top three NYSE .PL.N percentage losers: ** Griffon Corp , down 20.3% ** Revlon Inc , down 14.4% ** American Well , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Urovant Sciences , up 93.4% ** CBAK Energy Technology Inc , up 62% ** Asia Pacific Wire & Cable Corp , up 52% The top three Nasdaq .PL.O percentage losers: ** TOMI Environmental Solutions , down 27.4% ** Shift Technologies , down 26.3% ** Allied Healthcare , down 26% ** Shift SFT.O: down 26.3% BUZZ-Hits record low on bigger-than-expected loss, Wedbush downgrade ** Nio Inc NIO.N: down 4.4% BUZZ-Nio stock reverses course to trade lower on Citron's critical report ** InMed Pharmaceuticals INM.O: up 7.4% BUZZ-Jumps on smaller loss ** Revlon REV.N: down 14.4% BUZZ-Revlon: Slumps at end of record week ** 3M Co MMM.N: up 1.3% BUZZ-Up after October sales rise 3% ** Walt Disney Co DIS.N: up 2.1% BUZZ-Magic is returning to the Disney kingdom BUZZ-Rises as return of live sports, parks recovery drive revenue beat ** Palantir PLTR.N: up 6.2% BUZZ-Gains as brokerages raise PTs after strong Q3 results ** Dolby Laboratories DLB.N: up 5.4% BUZZ-Rises as Q3 results, Q1 forecast top estimates ** Cisco CSCO.O: up 7.2% BUZZ-Sees smaller-than-expected fall in Q2 revenue, shares jump BUZZ-Street View: Cisco looks to return to growth as pandemic effects wane ** Urovant UROV.O: up 93.4% BUZZ-Investors cheer Sumitovant buyout deal ** Cassava Sciences SAVA.O: down 25.8% BUZZ-Cassava Sciences drops on deep-discounted $75 mln equity raise ** Pinduoduo PDD.O: up 13.8% BUZZ-Gains as Jefferies raises PT after Q3 results ** Athira Pharma ATHA.O: up 5.7% BUZZ-Athira Pharma may benefit from FDA's supportive stance on Alzheimer's drugs - Jefferies ** Li Auto LI.O: up 5.9% BUZZ-Surges on Q3 revenue beat, strong outlook ** American Well Corp AMWL.N: down 12.3% BUZZ-Drops on bigger-than-expected Q3 loss ** AmerisourceBergen Corp ABC.N: up 2.5% ** Cardinal Health Inc CAH.N: up 1.8% ** McKesson Corp MCK.N: up 2.8% BUZZ-Mizuho raises PTs on drug distributors, sees potential COVID-19 vaccine tailwinds ** Creative Realities CREX.O: down 7.7% BUZZ-Set for over 6-month low on disappointing quarter ** BigCommerce Holdings Inc BIGC.O: down 8.2% BUZZ-BigCommerce drops after pricing stock offering ** Vipshop VIPS.N: up 4.9% BUZZ-Chinese discount retailer Vipshop rises as jump in active users boost Q3 sales ** UTZ Brands UTZ.N: up 2.7% BUZZ-UTZ Brands rises on Truco Enterprises deal, brokerages turn bullish ** Fastly Inc FSLY.N: up 3.2% BUZZ-No TikTok ban in U.S. good news for company - Brokerage ** Applied Materials AMAT.o: up 3.1% BUZZ-Rises on strong first-quarter forecast ** Spectrum Brands SPB.N: up 2.3% BUZZ-Set to open at 2-year high after results beat ** DraftKings DKNG.O: up 5.0% BUZZ-DraftKings raises 2020 forecast as live sports return; shares jump ** Dillard's DDS.N: up 4.5% BUZZ-Up as lower discounting helps retailer post surprise profit ** ThermoGenesis THMO.O: down 8.1% BUZZ-H.C. Wainwright cuts PT on Q3 rev dip; shares fall ** BeyondSpring BYSI.O: up 4.5% BUZZ-BeyondSpring: Rises on drug development pact with Eli Lilly ** Digirad Corp DRAD.O: down 2.2% BUZZ-Drops on surprise loss as COVID-19 weighs on results ** Fang Holdings SFUN.N: down 5.0% BUZZ-Falls on weak Q3 revenue ** Qualigen QLGN.O: down 3.2% BUZZ-Falls after Q2 loss widens The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street gained on Friday as Disney and Cisco's upbeat results brought the focus back to corporate earnings at the end of a volatile trading week that saw record surges in coronavirus cases and increased hopes of a working vaccine. up 0.74% (Compiled by Shreyasee Raj) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Valero Energy , up 7.7% ** Phillips 66 , up 7.6% ** Cisco Systems , up 7.2% The top three S&P 500 .PL.INX percentage losers: ** Cincinnati Financial Corp , down 5.5% ** Iron Mountain , down 2.7% ** NVIDIA Corp , down 1.9% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 22.8% ** Kensington Capital Acquisition Corp , up 18.9% ** Empire State Realty OP , up 18.6% The top three NYSE .PL.N percentage losers: ** Griffon Corp , down 20.3% ** Revlon Inc , down 14.4% ** American Well , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Urovant Sciences , up 93.4% ** CBAK Energy Technology Inc , up 62% ** Asia Pacific Wire & Cable Corp , up 52% The top three Nasdaq .PL.O percentage losers: ** TOMI Environmental Solutions , down 27.4% ** Shift Technologies , down 26.3% ** Allied Healthcare , down 26% ** Shift SFT.O: down 26.3% BUZZ-Hits record low on bigger-than-expected loss, Wedbush downgrade ** Nio Inc NIO.N: down 4.4% BUZZ-Nio stock reverses course to trade lower on Citron's critical report ** InMed Pharmaceuticals INM.O: up 7.4% BUZZ-Jumps on smaller loss ** Revlon REV.N: down 14.4% BUZZ-Revlon: Slumps at end of record week ** 3M Co MMM.N: up 1.3% BUZZ-Up after October sales rise 3% ** Walt Disney Co DIS.N: up 2.1% BUZZ-Magic is returning to the Disney kingdom BUZZ-Rises as return of live sports, parks recovery drive revenue beat ** Palantir PLTR.N: up 6.2% BUZZ-Gains as brokerages raise PTs after strong Q3 results ** Dolby Laboratories DLB.N: up 5.4% BUZZ-Rises as Q3 results, Q1 forecast top estimates ** Cisco CSCO.O: up 7.2% BUZZ-Sees smaller-than-expected fall in Q2 revenue, shares jump BUZZ-Street View: Cisco looks to return to growth as pandemic effects wane ** Urovant UROV.O: up 93.4% BUZZ-Investors cheer Sumitovant buyout deal ** Cassava Sciences SAVA.O: down 25.8% BUZZ-Cassava Sciences drops on deep-discounted $75 mln equity raise ** Pinduoduo PDD.O: up 13.8% BUZZ-Gains as Jefferies raises PT after Q3 results ** Athira Pharma ATHA.O: up 5.7% BUZZ-Athira Pharma may benefit from FDA's supportive stance on Alzheimer's drugs - Jefferies ** Li Auto LI.O: up 5.9% BUZZ-Surges on Q3 revenue beat, strong outlook ** American Well Corp AMWL.N: down 12.3% BUZZ-Drops on bigger-than-expected Q3 loss ** AmerisourceBergen Corp ABC.N: up 2.5% ** Cardinal Health Inc CAH.N: up 1.8% ** McKesson Corp MCK.N: up 2.8% BUZZ-Mizuho raises PTs on drug distributors, sees potential COVID-19 vaccine tailwinds ** Creative Realities CREX.O: down 7.7% BUZZ-Set for over 6-month low on disappointing quarter ** BigCommerce Holdings Inc BIGC.O: down 8.2% BUZZ-BigCommerce drops after pricing stock offering ** Vipshop VIPS.N: up 4.9% BUZZ-Chinese discount retailer Vipshop rises as jump in active users boost Q3 sales ** UTZ Brands UTZ.N: up 2.7% BUZZ-UTZ Brands rises on Truco Enterprises deal, brokerages turn bullish ** Fastly Inc FSLY.N: up 3.2% BUZZ-No TikTok ban in U.S. good news for company - Brokerage ** Applied Materials AMAT.o: up 3.1% BUZZ-Rises on strong first-quarter forecast ** Spectrum Brands SPB.N: up 2.3% BUZZ-Set to open at 2-year high after results beat ** DraftKings DKNG.O: up 5.0% BUZZ-DraftKings raises 2020 forecast as live sports return; shares jump ** Dillard's DDS.N: up 4.5% BUZZ-Up as lower discounting helps retailer post surprise profit ** ThermoGenesis THMO.O: down 8.1% BUZZ-H.C. Wainwright cuts PT on Q3 rev dip; shares fall ** BeyondSpring BYSI.O: up 4.5% BUZZ-BeyondSpring: Rises on drug development pact with Eli Lilly ** Digirad Corp DRAD.O: down 2.2% BUZZ-Drops on surprise loss as COVID-19 weighs on results ** Fang Holdings SFUN.N: down 5.0% BUZZ-Falls on weak Q3 revenue ** Qualigen QLGN.O: down 3.2% BUZZ-Falls after Q2 loss widens The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street gained on Friday as Disney and Cisco's upbeat results brought the focus back to corporate earnings at the end of a volatile trading week that saw record surges in coronavirus cases and increased hopes of a working vaccine. up 0.74% (Compiled by Shreyasee Raj) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Valero Energy , up 7.7% ** Phillips 66 , up 7.6% ** Cisco Systems , up 7.2% The top three S&P 500 .PL.INX percentage losers: ** Cincinnati Financial Corp , down 5.5% ** Iron Mountain , down 2.7% ** NVIDIA Corp , down 1.9% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 22.8% ** Kensington Capital Acquisition Corp , up 18.9% ** Empire State Realty OP , up 18.6% The top three NYSE .PL.N percentage losers: ** Griffon Corp , down 20.3% ** Revlon Inc , down 14.4% ** American Well , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Urovant Sciences , up 93.4% ** CBAK Energy Technology Inc , up 62% ** Asia Pacific Wire & Cable Corp , up 52% The top three Nasdaq .PL.O percentage losers: ** TOMI Environmental Solutions , down 27.4% ** Shift Technologies , down 26.3% ** Allied Healthcare , down 26% ** Shift SFT.O: down 26.3% BUZZ-Hits record low on bigger-than-expected loss, Wedbush downgrade ** Nio Inc NIO.N: down 4.4% BUZZ-Nio stock reverses course to trade lower on Citron's critical report ** InMed Pharmaceuticals INM.O: up 7.4% BUZZ-Jumps on smaller loss ** Revlon REV.N: down 14.4% BUZZ-Revlon: Slumps at end of record week ** 3M Co MMM.N: up 1.3% BUZZ-Up after October sales rise 3% ** Walt Disney Co DIS.N: up 2.1% BUZZ-Magic is returning to the Disney kingdom BUZZ-Rises as return of live sports, parks recovery drive revenue beat ** Palantir PLTR.N: up 6.2% BUZZ-Gains as brokerages raise PTs after strong Q3 results ** Dolby Laboratories DLB.N: up 5.4% BUZZ-Rises as Q3 results, Q1 forecast top estimates ** Cisco CSCO.O: up 7.2% BUZZ-Sees smaller-than-expected fall in Q2 revenue, shares jump BUZZ-Street View: Cisco looks to return to growth as pandemic effects wane ** Urovant UROV.O: up 93.4% BUZZ-Investors cheer Sumitovant buyout deal ** Cassava Sciences SAVA.O: down 25.8% BUZZ-Cassava Sciences drops on deep-discounted $75 mln equity raise ** Pinduoduo PDD.O: up 13.8% BUZZ-Gains as Jefferies raises PT after Q3 results ** Athira Pharma ATHA.O: up 5.7% BUZZ-Athira Pharma may benefit from FDA's supportive stance on Alzheimer's drugs - Jefferies ** Li Auto LI.O: up 5.9% BUZZ-Surges on Q3 revenue beat, strong outlook ** American Well Corp AMWL.N: down 12.3% BUZZ-Drops on bigger-than-expected Q3 loss ** AmerisourceBergen Corp ABC.N: up 2.5% ** Cardinal Health Inc CAH.N: up 1.8% ** McKesson Corp MCK.N: up 2.8% BUZZ-Mizuho raises PTs on drug distributors, sees potential COVID-19 vaccine tailwinds ** Creative Realities CREX.O: down 7.7% BUZZ-Set for over 6-month low on disappointing quarter ** BigCommerce Holdings Inc BIGC.O: down 8.2% BUZZ-BigCommerce drops after pricing stock offering ** Vipshop VIPS.N: up 4.9% BUZZ-Chinese discount retailer Vipshop rises as jump in active users boost Q3 sales ** UTZ Brands UTZ.N: up 2.7% BUZZ-UTZ Brands rises on Truco Enterprises deal, brokerages turn bullish ** Fastly Inc FSLY.N: up 3.2% BUZZ-No TikTok ban in U.S. good news for company - Brokerage ** Applied Materials AMAT.o: up 3.1% BUZZ-Rises on strong first-quarter forecast ** Spectrum Brands SPB.N: up 2.3% BUZZ-Set to open at 2-year high after results beat ** DraftKings DKNG.O: up 5.0% BUZZ-DraftKings raises 2020 forecast as live sports return; shares jump ** Dillard's DDS.N: up 4.5% BUZZ-Up as lower discounting helps retailer post surprise profit ** ThermoGenesis THMO.O: down 8.1% BUZZ-H.C. Wainwright cuts PT on Q3 rev dip; shares fall ** BeyondSpring BYSI.O: up 4.5% BUZZ-BeyondSpring: Rises on drug development pact with Eli Lilly ** Digirad Corp DRAD.O: down 2.2% BUZZ-Drops on surprise loss as COVID-19 weighs on results ** Fang Holdings SFUN.N: down 5.0% BUZZ-Falls on weak Q3 revenue ** Qualigen QLGN.O: down 3.2% BUZZ-Falls after Q2 loss widens The 11 major S&P 500 sectors: Communication Services .N At 12:50 ET, the Dow Jones Industrial Average .DJI was up 1.05% at 29,386.94. up 1.06% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Valero Energy , up 7.7% ** Phillips 66 , up 7.6% ** Cisco Systems , up 7.2% The top three S&P 500 .PL.INX percentage losers: ** Cincinnati Financial Corp , down 5.5% ** Iron Mountain , down 2.7% ** NVIDIA Corp , down 1.9% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd , up 22.8% ** Kensington Capital Acquisition Corp , up 18.9% ** Empire State Realty OP , up 18.6% The top three NYSE .PL.N percentage losers: ** Griffon Corp , down 20.3% ** Revlon Inc , down 14.4% ** American Well , down 12.3% The top three Nasdaq .PG.O percentage gainers: ** Urovant Sciences , up 93.4% ** CBAK Energy Technology Inc , up 62% ** Asia Pacific Wire & Cable Corp , up 52% The top three Nasdaq .PL.O percentage losers: ** TOMI Environmental Solutions , down 27.4% ** Shift Technologies , down 26.3% ** Allied Healthcare , down 26% ** Shift SFT.O: down 26.3% BUZZ-Hits record low on bigger-than-expected loss, Wedbush downgrade ** Nio Inc NIO.N: down 4.4% BUZZ-Nio stock reverses course to trade lower on Citron's critical report ** InMed Pharmaceuticals INM.O: up 7.4% BUZZ-Jumps on smaller loss ** Revlon REV.N: down 14.4% BUZZ-Revlon: Slumps at end of record week ** 3M Co MMM.N: up 1.3% BUZZ-Up after October sales rise 3% ** Walt Disney Co DIS.N: up 2.1% BUZZ-Magic is returning to the Disney kingdom BUZZ-Rises as return of live sports, parks recovery drive revenue beat ** Palantir PLTR.N: up 6.2% BUZZ-Gains as brokerages raise PTs after strong Q3 results ** Dolby Laboratories DLB.N: up 5.4% BUZZ-Rises as Q3 results, Q1 forecast top estimates ** Cisco CSCO.O: up 7.2% BUZZ-Sees smaller-than-expected fall in Q2 revenue, shares jump BUZZ-Street View: Cisco looks to return to growth as pandemic effects wane ** Urovant UROV.O: up 93.4% BUZZ-Investors cheer Sumitovant buyout deal ** Cassava Sciences SAVA.O: down 25.8% BUZZ-Cassava Sciences drops on deep-discounted $75 mln equity raise ** Pinduoduo PDD.O: up 13.8% BUZZ-Gains as Jefferies raises PT after Q3 results ** Athira Pharma ATHA.O: up 5.7% BUZZ-Athira Pharma may benefit from FDA's supportive stance on Alzheimer's drugs - Jefferies ** Li Auto LI.O: up 5.9% BUZZ-Surges on Q3 revenue beat, strong outlook ** American Well Corp AMWL.N: down 12.3% BUZZ-Drops on bigger-than-expected Q3 loss ** AmerisourceBergen Corp ABC.N: up 2.5% ** Cardinal Health Inc CAH.N: up 1.8% ** McKesson Corp MCK.N: up 2.8% BUZZ-Mizuho raises PTs on drug distributors, sees potential COVID-19 vaccine tailwinds ** Creative Realities CREX.O: down 7.7% BUZZ-Set for over 6-month low on disappointing quarter ** BigCommerce Holdings Inc BIGC.O: down 8.2% BUZZ-BigCommerce drops after pricing stock offering ** Vipshop VIPS.N: up 4.9% BUZZ-Chinese discount retailer Vipshop rises as jump in active users boost Q3 sales ** UTZ Brands UTZ.N: up 2.7% BUZZ-UTZ Brands rises on Truco Enterprises deal, brokerages turn bullish ** Fastly Inc FSLY.N: up 3.2% BUZZ-No TikTok ban in U.S. good news for company - Brokerage ** Applied Materials AMAT.o: up 3.1% BUZZ-Rises on strong first-quarter forecast ** Spectrum Brands SPB.N: up 2.3% BUZZ-Set to open at 2-year high after results beat ** DraftKings DKNG.O: up 5.0% BUZZ-DraftKings raises 2020 forecast as live sports return; shares jump ** Dillard's DDS.N: up 4.5% BUZZ-Up as lower discounting helps retailer post surprise profit ** ThermoGenesis THMO.O: down 8.1% BUZZ-H.C. Wainwright cuts PT on Q3 rev dip; shares fall ** BeyondSpring BYSI.O: up 4.5% BUZZ-BeyondSpring: Rises on drug development pact with Eli Lilly ** Digirad Corp DRAD.O: down 2.2% BUZZ-Drops on surprise loss as COVID-19 weighs on results ** Fang Holdings SFUN.N: down 5.0% BUZZ-Falls on weak Q3 revenue ** Qualigen QLGN.O: down 3.2% BUZZ-Falls after Q2 loss widens The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street gained on Friday as Disney and Cisco's upbeat results brought the focus back to corporate earnings at the end of a volatile trading week that saw record surges in coronavirus cases and increased hopes of a working vaccine. .N At 12:50 ET, the Dow Jones Industrial Average .DJI was up 1.05% at 29,386.94.
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1bb05a66-02bf-44a7-8aea-06ea10b58457
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719519.0
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2020-10-26 00:00:00 UTC
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A Berkshire Hathaway Investment Manager Bought Dillard's Stock -- Why?
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DDS
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https://www.nasdaq.com/articles/a-berkshire-hathaway-investment-manager-bought-dillards-stock-why-2020-10-26
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nan
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nan
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We recently learned that Ted Weschler, who is one of Warren Buffett's two stock-picking investment managers at Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), bought a sizable amount of Dillard's (NYSE: DDS) stock. To be clear, this purchase was made with Weschler's personal funds, not Berkshire's, but it still makes one wonder what could this high-profile stock-picker possibly see in this particular department store operator. Here's what two of our industry experts think about it.
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Jason Moser: Let's, before we wrap up here, Matt, one thing I did want to bring up, because this is not really directly related to Berkshire Hathaway, but this was the headline that hit this morning, which I thought was pretty fascinating. Dillard's, the old department store from the mall -- I mean, we talked about the challenges malls are facing. It was very interesting to see this news that Ted Weschler, who is an investment manager for, of course, Berkshire Hathaway, bought a massive stake in Dillard's. And Dillard's stock is up around 40% right now on this news. It's not a Berkshire Hathaway investment, though, from what I can understand, this is a Ted Weschler investment, correct?
Matt Frankel: It is, and that's what makes it all the more surprising. I wouldn't really put it past Buffett to do like a deep value play like this. But Ted Weschler and Todd Combs, they're two investment managers. They're the ones who, you know, buy Amazon and Snowflake and StoneCo and those types of companies recently. You know, they're not buying Coca-Cola and AmEx, like Buffett is. They're buying the tech plays.
So it kind of surprised me. I mean, it's definitely a value play, in my mind. The thing that I'm -- I mean, obviously, no one knows what he's thinking. But one thing that came to my mind is that maybe it's kind of like the Best Buy (NYSE: BBY) effect. When you think of Best Buy 10 years ago, they had Circuit City competing against them. hhgregg, a few other big ones. What happened? The weaker competitors went out of business. And even though Best Buy was competing with Amazon and e-commerce, there was still some need for a physical electronics-store presence, so they picked up all that market share that Circuit City and hhgregg left behind. And now they're that much stronger as a result.
So Dillard's is -- I mean, no department store is terribly strong right now. But I would put Dillard's, I mean, obviously in a category above, like, J.C. Penney, which is already bankrupt. But even above Macy's or some of the other ones, Dillard's seems to be doing better than all of its peers. So I'm thinking maybe they're thinking it might be like a last man standing type of play. I don't know. What are your thoughts on that?
Moser: Just to me, yeah, it's difficult to really fully reconcile. I mean, I always look at something like this and I feel like, you know what, these guys have access to a lot more information and they're certainly very talented, very smart investors. There's clearly something there that we maybe can't see based on information that they have. I don't know that.
It reminds me of the Buffett-Bank of America deal. This is probably something, this is something where they're able to do something through this investment that your typical retail investor probably wouldn't be able to accomplish, and maybe --
Frankel: I wouldn't be surprised if he got a board seat or something like that out of the deal. [laughs]
Moser: Right, exactly. And maybe that is something to come, but you know what, it's easy to look at that big absolute number and think that's, wow, that's a big absolute number. But remember, I mean, they're dealing with big numbers every day. And so for them it's not necessarily this crazy of a -- at least on the outside, it's not necessarily as crazy looking an investment as maybe some might think. It's a really difficult time for those department stores and malls and retailers right now. So maybe this is a "Hey!" trying to buy a good operator in a bad time. And I certainly appreciate that style of investing and that way of thinking, so it'll be really fun to watch that play out and to see how that ends up working. I don't think Dillard's is some kind of a serious story, though. I think there's probably some value there that it could end up helping to bring out a little bit more value.
Frankel: Well, I mean, it's the same reason. That's the same reason I bought Simon Property Group. It's not because I necessarily think that malls are a great business right now, it's that they're the best in breed, and I think that it's going to consolidate around them and they're going to kind of be the wave of the future, when this is all said and done. Not necessarily that I think the mall business is a great one to be in right now, just like the department store business is clearly not a great one to be in right now. But maybe he knows something there, like you said. [laughs]
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Matthew Frankel, CFP owns shares of American Express and Berkshire Hathaway (B shares). The Motley Fool owns shares of and recommends Amazon and Berkshire Hathaway (B shares). The Motley Fool owns shares of Stoneco LTD. The Motley Fool recommends Snowflake Inc and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), short January 2022 $1940 calls on Amazon, long January 2022 $1920 calls on Amazon, and short December 2020 $210 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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We recently learned that Ted Weschler, who is one of Warren Buffett's two stock-picking investment managers at Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), bought a sizable amount of Dillard's (NYSE: DDS) stock. To be clear, this purchase was made with Weschler's personal funds, not Berkshire's, but it still makes one wonder what could this high-profile stock-picker possibly see in this particular department store operator. And even though Best Buy was competing with Amazon and e-commerce, there was still some need for a physical electronics-store presence, so they picked up all that market share that Circuit City and hhgregg left behind.
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We recently learned that Ted Weschler, who is one of Warren Buffett's two stock-picking investment managers at Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), bought a sizable amount of Dillard's (NYSE: DDS) stock. The Motley Fool owns shares of and recommends Amazon and Berkshire Hathaway (B shares). The Motley Fool recommends Snowflake Inc and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), short January 2022 $1940 calls on Amazon, long January 2022 $1920 calls on Amazon, and short December 2020 $210 calls on Berkshire Hathaway (B shares).
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We recently learned that Ted Weschler, who is one of Warren Buffett's two stock-picking investment managers at Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), bought a sizable amount of Dillard's (NYSE: DDS) stock. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Berkshire Hathaway wasn't one of them! The Motley Fool recommends Snowflake Inc and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), short January 2022 $1940 calls on Amazon, long January 2022 $1920 calls on Amazon, and short December 2020 $210 calls on Berkshire Hathaway (B shares).
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We recently learned that Ted Weschler, who is one of Warren Buffett's two stock-picking investment managers at Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), bought a sizable amount of Dillard's (NYSE: DDS) stock. That's right -- they think these 10 stocks are even better buys. This is probably something, this is something where they're able to do something through this investment that your typical retail investor probably wouldn't be able to accomplish, and maybe -- Frankel: I wouldn't be surprised if he got a board seat or something like that out of the deal.
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c52f72c9-866f-4789-96c6-efc088544dc6
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719520.0
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2020-10-15 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Fastly, Anavex, VivoPower, NantKwest
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DDS
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-fastly-anavex-vivopower-nantkwest-2020-10-15
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock index futures dropped on Thursday as an unexpected rise in weekly jobless claims exacerbated fears of a stalling economic recovery a day after Treasury Secretary Steven Mnuchin dashed hopes for more fiscal aid before the election. .N
At 8:43 ET, Dow e-minis 1YMc1 were down 1.16% at 28,085, S&P 500 e-minis ESc1 were down 1.21% at 3,439, and Nasdaq 100 e-minis NQc1 were down 1.60% at 11,783. The top two NYSE percentage gainers premarket .PRPG.NQ: ** Pennsylvania Real Estate Investment Trust , up 29.4% ** Cars.Com Inc , up 17.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Fastly Inc , down 29.2% ** Dillard's Inc , down 13.2% ** Cloudflare Inc , down 9.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Staffing 360 Solutions Inc , up 111.2% ** Spi Energy Co Ltd , up 81.8% ** Hudson Capital Inc , up 34.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 37.4% ** Medalist Diversified Reit Inc , down 22.8% ** Artelo Biosciences Inc , down 20.4% ** Vertex VRTX.O: down 12% premarket BUZZ- Drops on scrapping trial of deficiency disorder treatment ** United Airlines UAL.O: down 1.2% premarket BUZZ- Dips on bigger-than-expected loss, but cash burn slows ** Organogenesis Holdings ORGO.O: up 18.5% premarket BUZZ- Jumps on forecasting Q3 revenue above Wall Street estimates ** NantKwest NK.O: up 6.2% premarket BUZZ- Up as COVID-19 vaccine development partner gets FDA nod for trial ** Fastly FSLY.N: down 29.2% premarket BUZZ-Fastly in slow lane as falling TikTok usage bites ** Walgreens WBA.O: up 1.2% premarket BUZZ- Rises on Q4 profit beat, rosy profit view for 2021 ** VivoPower VVPR.O: down 16.4% premarket BUZZ- Falls on $25 mln stock deal ** Roku Inc ROKU.O: down 3.8% premarket BUZZ- Keybanc raises concerns over international expansion, downgrades to 'sector weight' ** United Airlines UAL.O: down 1.2% premarket ** American Airlines AAL.O: down 1.6% premarket ** Delta Air Lines DAL.N: down 1.6% premarket ** Spirit Airlines SAVE.N: down 0.9% premarket ** Southwest Airlines LUV.N: down 1.1% premarket BUZZ-U.S. airlines fall on United's downbeat Q3, stimulus uncertainty L4N2GE3M5 ** Lemonade Inc LMND.N: down 4.9% premarket BUZZ- Falls as Credit Suisse starts with 'underperform' on valuation ** Bloom Energy BE.N: down 7.5% premarket BUZZ-Bloom Energy drops after Morgan Stanley prices another big block ** Anavex AVXL.O: up 15.4% premarket BUZZ- Surges on positive data from Parkinson's disease dementia drug study ** Appian Corp APPN.O: down 5.7% premarket BUZZ- Berenberg downgrades to 'hold', shares down
(Compiled by Dania Nadeem in Bengaluru)
((Dania.Nadeem@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures dropped on Thursday as an unexpected rise in weekly jobless claims exacerbated fears of a stalling economic recovery a day after Treasury Secretary Steven Mnuchin dashed hopes for more fiscal aid before the election. .N At 8:43 ET, Dow e-minis 1YMc1 were down 1.16% at 28,085, S&P 500 e-minis ESc1 were down 1.21% at 3,439, and Nasdaq 100 e-minis NQc1 were down 1.60% at 11,783. The top two NYSE percentage gainers premarket .PRPG.NQ: ** Pennsylvania Real Estate Investment Trust , up 29.4% ** Cars.Com Inc , up 17.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Fastly Inc , down 29.2% ** Dillard's Inc , down 13.2% ** Cloudflare Inc , down 9.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Staffing 360 Solutions Inc , up 111.2% ** Spi Energy Co Ltd , up 81.8% ** Hudson Capital Inc , up 34.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 37.4% ** Medalist Diversified Reit Inc , down 22.8% ** Artelo Biosciences Inc , down 20.4% ** Vertex VRTX.O: down 12% premarket BUZZ- Drops on scrapping trial of deficiency disorder treatment ** United Airlines UAL.O: down 1.2% premarket BUZZ- Dips on bigger-than-expected loss, but cash burn slows ** Organogenesis Holdings ORGO.O: up 18.5% premarket BUZZ- Jumps on forecasting Q3 revenue above Wall Street estimates ** NantKwest NK.O: up 6.2% premarket BUZZ- Up as COVID-19 vaccine development partner gets FDA nod for trial ** Fastly FSLY.N: down 29.2% premarket BUZZ-Fastly in slow lane as falling TikTok usage bites ** Walgreens WBA.O: up 1.2% premarket BUZZ- Rises on Q4 profit beat, rosy profit view for 2021 ** VivoPower VVPR.O: down 16.4% premarket BUZZ- Falls on $25 mln stock deal ** Roku Inc ROKU.O: down 3.8% premarket BUZZ- Keybanc raises concerns over international expansion, downgrades to 'sector weight' ** United Airlines UAL.O: down 1.2% premarket ** American Airlines AAL.O: down 1.6% premarket ** Delta Air Lines DAL.N: down 1.6% premarket ** Spirit Airlines SAVE.N: down 0.9% premarket ** Southwest Airlines LUV.N: down 1.1% premarket BUZZ-U.S. airlines fall on United's downbeat Q3, stimulus uncertainty L4N2GE3M5 ** Lemonade Inc LMND.N: down 4.9% premarket BUZZ- Falls as Credit Suisse starts with 'underperform' on valuation ** Bloom Energy BE.N: down 7.5% premarket BUZZ-Bloom Energy drops after Morgan Stanley prices another big block ** Anavex AVXL.O: up 15.4% premarket BUZZ- Surges on positive data from Parkinson's disease dementia drug study ** Appian Corp APPN.O: down 5.7% premarket BUZZ- Berenberg downgrades to 'hold', shares down (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures dropped on Thursday as an unexpected rise in weekly jobless claims exacerbated fears of a stalling economic recovery a day after Treasury Secretary Steven Mnuchin dashed hopes for more fiscal aid before the election. .N At 8:43 ET, Dow e-minis 1YMc1 were down 1.16% at 28,085, S&P 500 e-minis ESc1 were down 1.21% at 3,439, and Nasdaq 100 e-minis NQc1 were down 1.60% at 11,783. The top two NYSE percentage gainers premarket .PRPG.NQ: ** Pennsylvania Real Estate Investment Trust , up 29.4% ** Cars.Com Inc , up 17.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Fastly Inc , down 29.2% ** Dillard's Inc , down 13.2% ** Cloudflare Inc , down 9.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Staffing 360 Solutions Inc , up 111.2% ** Spi Energy Co Ltd , up 81.8% ** Hudson Capital Inc , up 34.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 37.4% ** Medalist Diversified Reit Inc , down 22.8% ** Artelo Biosciences Inc , down 20.4% ** Vertex VRTX.O: down 12% premarket BUZZ- Drops on scrapping trial of deficiency disorder treatment ** United Airlines UAL.O: down 1.2% premarket BUZZ- Dips on bigger-than-expected loss, but cash burn slows ** Organogenesis Holdings ORGO.O: up 18.5% premarket BUZZ- Jumps on forecasting Q3 revenue above Wall Street estimates ** NantKwest NK.O: up 6.2% premarket BUZZ- Up as COVID-19 vaccine development partner gets FDA nod for trial ** Fastly FSLY.N: down 29.2% premarket BUZZ-Fastly in slow lane as falling TikTok usage bites ** Walgreens WBA.O: up 1.2% premarket BUZZ- Rises on Q4 profit beat, rosy profit view for 2021 ** VivoPower VVPR.O: down 16.4% premarket BUZZ- Falls on $25 mln stock deal ** Roku Inc ROKU.O: down 3.8% premarket BUZZ- Keybanc raises concerns over international expansion, downgrades to 'sector weight' ** United Airlines UAL.O: down 1.2% premarket ** American Airlines AAL.O: down 1.6% premarket ** Delta Air Lines DAL.N: down 1.6% premarket ** Spirit Airlines SAVE.N: down 0.9% premarket ** Southwest Airlines LUV.N: down 1.1% premarket BUZZ-U.S. airlines fall on United's downbeat Q3, stimulus uncertainty L4N2GE3M5 ** Lemonade Inc LMND.N: down 4.9% premarket BUZZ- Falls as Credit Suisse starts with 'underperform' on valuation ** Bloom Energy BE.N: down 7.5% premarket BUZZ-Bloom Energy drops after Morgan Stanley prices another big block ** Anavex AVXL.O: up 15.4% premarket BUZZ- Surges on positive data from Parkinson's disease dementia drug study ** Appian Corp APPN.O: down 5.7% premarket BUZZ- Berenberg downgrades to 'hold', shares down (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures dropped on Thursday as an unexpected rise in weekly jobless claims exacerbated fears of a stalling economic recovery a day after Treasury Secretary Steven Mnuchin dashed hopes for more fiscal aid before the election. .N At 8:43 ET, Dow e-minis 1YMc1 were down 1.16% at 28,085, S&P 500 e-minis ESc1 were down 1.21% at 3,439, and Nasdaq 100 e-minis NQc1 were down 1.60% at 11,783. The top two NYSE percentage gainers premarket .PRPG.NQ: ** Pennsylvania Real Estate Investment Trust , up 29.4% ** Cars.Com Inc , up 17.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Fastly Inc , down 29.2% ** Dillard's Inc , down 13.2% ** Cloudflare Inc , down 9.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Staffing 360 Solutions Inc , up 111.2% ** Spi Energy Co Ltd , up 81.8% ** Hudson Capital Inc , up 34.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 37.4% ** Medalist Diversified Reit Inc , down 22.8% ** Artelo Biosciences Inc , down 20.4% ** Vertex VRTX.O: down 12% premarket BUZZ- Drops on scrapping trial of deficiency disorder treatment ** United Airlines UAL.O: down 1.2% premarket BUZZ- Dips on bigger-than-expected loss, but cash burn slows ** Organogenesis Holdings ORGO.O: up 18.5% premarket BUZZ- Jumps on forecasting Q3 revenue above Wall Street estimates ** NantKwest NK.O: up 6.2% premarket BUZZ- Up as COVID-19 vaccine development partner gets FDA nod for trial ** Fastly FSLY.N: down 29.2% premarket BUZZ-Fastly in slow lane as falling TikTok usage bites ** Walgreens WBA.O: up 1.2% premarket BUZZ- Rises on Q4 profit beat, rosy profit view for 2021 ** VivoPower VVPR.O: down 16.4% premarket BUZZ- Falls on $25 mln stock deal ** Roku Inc ROKU.O: down 3.8% premarket BUZZ- Keybanc raises concerns over international expansion, downgrades to 'sector weight' ** United Airlines UAL.O: down 1.2% premarket ** American Airlines AAL.O: down 1.6% premarket ** Delta Air Lines DAL.N: down 1.6% premarket ** Spirit Airlines SAVE.N: down 0.9% premarket ** Southwest Airlines LUV.N: down 1.1% premarket BUZZ-U.S. airlines fall on United's downbeat Q3, stimulus uncertainty L4N2GE3M5 ** Lemonade Inc LMND.N: down 4.9% premarket BUZZ- Falls as Credit Suisse starts with 'underperform' on valuation ** Bloom Energy BE.N: down 7.5% premarket BUZZ-Bloom Energy drops after Morgan Stanley prices another big block ** Anavex AVXL.O: up 15.4% premarket BUZZ- Surges on positive data from Parkinson's disease dementia drug study ** Appian Corp APPN.O: down 5.7% premarket BUZZ- Berenberg downgrades to 'hold', shares down (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures dropped on Thursday as an unexpected rise in weekly jobless claims exacerbated fears of a stalling economic recovery a day after Treasury Secretary Steven Mnuchin dashed hopes for more fiscal aid before the election. .N At 8:43 ET, Dow e-minis 1YMc1 were down 1.16% at 28,085, S&P 500 e-minis ESc1 were down 1.21% at 3,439, and Nasdaq 100 e-minis NQc1 were down 1.60% at 11,783. The top two NYSE percentage gainers premarket .PRPG.NQ: ** Pennsylvania Real Estate Investment Trust , up 29.4% ** Cars.Com Inc , up 17.2% The top three NYSE percentage losers premarket .PRPL.NQ: ** Fastly Inc , down 29.2% ** Dillard's Inc , down 13.2% ** Cloudflare Inc , down 9.8% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Staffing 360 Solutions Inc , up 111.2% ** Spi Energy Co Ltd , up 81.8% ** Hudson Capital Inc , up 34.1% The top three Nasdaq percentage losers premarket .PRPL.O: ** Kaixin Auto Holdings , down 37.4% ** Medalist Diversified Reit Inc , down 22.8% ** Artelo Biosciences Inc , down 20.4% ** Vertex VRTX.O: down 12% premarket BUZZ- Drops on scrapping trial of deficiency disorder treatment ** United Airlines UAL.O: down 1.2% premarket BUZZ- Dips on bigger-than-expected loss, but cash burn slows ** Organogenesis Holdings ORGO.O: up 18.5% premarket BUZZ- Jumps on forecasting Q3 revenue above Wall Street estimates ** NantKwest NK.O: up 6.2% premarket BUZZ- Up as COVID-19 vaccine development partner gets FDA nod for trial ** Fastly FSLY.N: down 29.2% premarket BUZZ-Fastly in slow lane as falling TikTok usage bites ** Walgreens WBA.O: up 1.2% premarket BUZZ- Rises on Q4 profit beat, rosy profit view for 2021 ** VivoPower VVPR.O: down 16.4% premarket BUZZ- Falls on $25 mln stock deal ** Roku Inc ROKU.O: down 3.8% premarket BUZZ- Keybanc raises concerns over international expansion, downgrades to 'sector weight' ** United Airlines UAL.O: down 1.2% premarket ** American Airlines AAL.O: down 1.6% premarket ** Delta Air Lines DAL.N: down 1.6% premarket ** Spirit Airlines SAVE.N: down 0.9% premarket ** Southwest Airlines LUV.N: down 1.1% premarket BUZZ-U.S. airlines fall on United's downbeat Q3, stimulus uncertainty L4N2GE3M5 ** Lemonade Inc LMND.N: down 4.9% premarket BUZZ- Falls as Credit Suisse starts with 'underperform' on valuation ** Bloom Energy BE.N: down 7.5% premarket BUZZ-Bloom Energy drops after Morgan Stanley prices another big block ** Anavex AVXL.O: up 15.4% premarket BUZZ- Surges on positive data from Parkinson's disease dementia drug study ** Appian Corp APPN.O: down 5.7% premarket BUZZ- Berenberg downgrades to 'hold', shares down (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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a6c9f17f-b19c-4934-930d-c7d560d0a8bb
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719521.0
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2020-10-13 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Royal Caribbean Cruises, Apple, Moderna, J&J
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DDS
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-royal-caribbean-cruises-apple-moderna-jj-2020-10-13
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
The Dow and the S&P 500 fell on Tuesday after a four-day winning streak as a pause in Johnson & Johnson's COVID-19 trial triggered concerns about the timing of a vaccine, although a rally in technology shares supported the Nasdaq. .N
At 12:43 ET, the Dow Jones Industrial Average .DJI was down 0.46% at 28,705.56, the S&P 500 .SPX was down 0.40% at 3,520.23, while the Nasdaq Composite .IXIC was up 0.18% at 11,897.218. The top three S&P 500 .PG.INX percentage gainers: ** Waters Corp , up 6.4% ** Blackrock Inc , up 4.7% ** Etsy Inc , up 4.4% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd , down 11.5% ** Norwegian Cruise Line Holdings Ltd , down 6.9% ** Carnival Corp , down 6.6% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 15.4% ** Armstrong Flooring Inc , up 14.2% ** Daqo New Energy Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** FTS International Inc , down 13.8% ** Dillard's Inc , down 12.9% ** Royal Caribbean Cruises Ltd , down 11.5% The top three Nasdaq .PG.O percentage gainers: ** Medigus Ltd , up 68.2% ** Larimar Therapeutics Inc , up 23.8% ** BiondVax Pharmaceuticals Ltd , up 18.8% The top three Nasdaq .PL.O percentage losers: ** Gossamer Bio Inc , down 33.2% ** Loop Industries Inc , down 32.3% ** Wah Fu Education Group Limited , down 30% ** Johnson & Johnson JNJ.N: down 2.1% BUZZ- Falls on halting COVID-19 vaccine trials due to unexplained illness ** Tesla TSLA.O: up 0.1% BUZZ-Tesla cuts U.S., Chinese prices of Model S variant; shares up ** Walt Disney DIS.N: up 4.0% BUZZ- Up after reorganization puts streaming back in focus ** BlackRock Inc BLK.N: up 4.7% BUZZ- Rises on strong Q3 profit ** Beyond Meat Inc BYND.O: down 3.9% BUZZ- Falls on report of Bernstein downgrade ** Mesoblast Ltd MESO.O: up 0.7% BUZZ- U.S. shares rise after co enrolls patients for COVID-19 therapy trial ** Royal Caribbean Cruises Ltd RCL.N: down 11.5% BUZZ- Slides on planned $1 bln capital raise ** Gossamer Bio GOSS.O: down 33.2% BUZZ- Slips after drug fails asthma and rhinosinusitis study ** Micron Technology MU.O: up 2.6% BUZZ- Gains as brokerage upgrades to 'buy', raises PT ** Axovant AXGT.O: up 0.1% BUZZ- Rises after FDA grants rare pediatric disease tag to gene therapy ** AMC Entertainment AMC.N: down 9.2% BUZZ- Falls on flagging depleted cash reserves ** Farmmi Inc FAMI.O: up 0.1% BUZZ- Rises on follow-on order for exports to Canada ** Foot Locker FL.N: up 0.8% BUZZ- BofA sees strong holiday season momentum, upgrades ** Vaxart VXRT.O: up 8.3% BUZZ- Rises as co begins human trial of oral COVID-19 vaccine ** Peck Company PECK.O: up 7.5% BUZZ- Surges on $7.6 mln solar project contracts ** Novavax NVAX.O: up 7.9%
BUZZ- Up on forming team to explore combined influenza/COVID-19 vaccine ** Amazon Inc AMZN.O: up 1.0%
BUZZ- Shares rise as 'Prime Day' kicks off ** Loop Industries LOOP.O: down 32.3%
BUZZ- Sinks as Hindenburg Research reveals short position ** Dynavax DVAX.O: up 8.1%
BUZZ- Rises as COVID-19 vaccine using co's booster gets subsidy in Taiwan ** Delta Air DAL.N: down 2.7%
BUZZ- Falls as Q3 revenue slides, co delays target to halt cash burn ** PMV Pharma PMVP.O: up 3.3%
BUZZ- Rises as FDA grants fast track tag to cancer drug ** Enlivex ENLV.O: up 18.4%
BUZZ- Up on Israel govt nod for mid-stage study of potential COVID-19 therapy ** J.Jill JILL.N: up 40.2%
BUZZ- Surges after top shareholder increases stake ** Athira Pharma ATHA.O: up 7.9%
BUZZ- Analysts see potential on Alzheimer's drug candidate, shares rise ** AZZ Inc AZZ.N: down 4.9%
BUZZ- Falls as quarterly sales miss estimates
** Ovintiv Inc OVV.N: up 0.7%
BUZZ- Gains as Pipestone Processing Facility starts ** JPMorgan Chase & Co JPM.N: down 1.4% ** Citigroup C.N: down 4.3% ** Goldman Sachs GS.N: down 1.8% ** Wells Fargo WFC.N: down 2.8% ** Bank of America BAC.N: down 2.3% ** Morgan Stanley MS.N: down 0.9%
BUZZ-U.S. big banks slide with Wall Street on COVID-19 vaccine worries ** RedHill RDHL.O: up 3.4%
BUZZ- Rises on deals to ramp up manufacturing of COVID-19 treatment ** Apple Inc AAPL.O: down 1.1%
BUZZ- Dips ahead of iPhone debut event ** PG&E PCG.N: down 0.5%
BUZZ- Falls as U.S. judge demands explanation on co's role in Zogg Fire ** Moderna Inc MRNA.O: up 3.9%
BUZZ- Jumps as Canada to review its COVID-19 vaccine candidate in real time
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.35%
Consumer Discretionary
.SPLRCD
up 0.37%
Consumer Staples
.SPLRCS
down 0.29%
Energy
.SPNY
down 1.76%
Financial
.SPSY
down 1.54%
Health
.SPXHC
down 0.47%
Industrial
.SPLRCI
down 0.88%
Information Technology
.SPLRCT
down 0.13%
Materials
.SPLRCM
down 0.88%
Real Estate
.SPLRCR
down 1.50%
Utilities
.SPLRCU
down 1.17%
(Compiled by Dania Nadeem in Bengaluru)
((Dania.Nadeem@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The Dow and the S&P 500 fell on Tuesday after a four-day winning streak as a pause in Johnson & Johnson's COVID-19 trial triggered concerns about the timing of a vaccine, although a rally in technology shares supported the Nasdaq. .N At 12:43 ET, the Dow Jones Industrial Average .DJI was down 0.46% at 28,705.56, the S&P 500 .SPX was down 0.40% at 3,520.23, while the Nasdaq Composite .IXIC was up 0.18% at 11,897.218. The top three S&P 500 .PG.INX percentage gainers: ** Waters Corp , up 6.4% ** Blackrock Inc , up 4.7% ** Etsy Inc , up 4.4% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd , down 11.5% ** Norwegian Cruise Line Holdings Ltd , down 6.9% ** Carnival Corp , down 6.6% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 15.4% ** Armstrong Flooring Inc , up 14.2% ** Daqo New Energy Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** FTS International Inc , down 13.8% ** Dillard's Inc , down 12.9% ** Royal Caribbean Cruises Ltd , down 11.5% The top three Nasdaq .PG.O percentage gainers: ** Medigus Ltd , up 68.2% ** Larimar Therapeutics Inc , up 23.8% ** BiondVax Pharmaceuticals Ltd , up 18.8% The top three Nasdaq .PL.O percentage losers: ** Gossamer Bio Inc , down 33.2% ** Loop Industries Inc , down 32.3% ** Wah Fu Education Group Limited , down 30% ** Johnson & Johnson JNJ.N: down 2.1% BUZZ- Falls on halting COVID-19 vaccine trials due to unexplained illness ** Tesla TSLA.O: up 0.1% BUZZ-Tesla cuts U.S., Chinese prices of Model S variant; shares up ** Walt Disney DIS.N: up 4.0% BUZZ- Up after reorganization puts streaming back in focus ** BlackRock Inc BLK.N: up 4.7% BUZZ- Rises on strong Q3 profit ** Beyond Meat Inc BYND.O: down 3.9% BUZZ- Falls on report of Bernstein downgrade ** Mesoblast Ltd MESO.O: up 0.7% BUZZ- U.S. shares rise after co enrolls patients for COVID-19 therapy trial ** Royal Caribbean Cruises Ltd RCL.N: down 11.5% BUZZ- Slides on planned $1 bln capital raise ** Gossamer Bio GOSS.O: down 33.2% BUZZ- Slips after drug fails asthma and rhinosinusitis study ** Micron Technology MU.O: up 2.6% BUZZ- Gains as brokerage upgrades to 'buy', raises PT ** Axovant AXGT.O: up 0.1% BUZZ- Rises after FDA grants rare pediatric disease tag to gene therapy ** AMC Entertainment AMC.N: down 9.2% BUZZ- Falls on flagging depleted cash reserves ** Farmmi Inc FAMI.O: up 0.1% BUZZ- Rises on follow-on order for exports to Canada ** Foot Locker FL.N: up 0.8% BUZZ- BofA sees strong holiday season momentum, upgrades ** Vaxart VXRT.O: up 8.3% BUZZ- Rises as co begins human trial of oral COVID-19 vaccine ** Peck Company PECK.O: up 7.5% BUZZ- Surges on $7.6 mln solar project contracts ** Novavax NVAX.O: up 7.9% BUZZ- Up on forming team to explore combined influenza/COVID-19 vaccine ** Amazon Inc AMZN.O: up 1.0% BUZZ- Shares rise as 'Prime Day' kicks off ** Loop Industries LOOP.O: down 32.3% BUZZ- Sinks as Hindenburg Research reveals short position ** Dynavax DVAX.O: up 8.1% BUZZ- Rises as COVID-19 vaccine using co's booster gets subsidy in Taiwan ** Delta Air DAL.N: down 2.7% BUZZ- Falls as Q3 revenue slides, co delays target to halt cash burn ** PMV Pharma PMVP.O: up 3.3% BUZZ- Rises as FDA grants fast track tag to cancer drug ** Enlivex ENLV.O: up 18.4% BUZZ- Up on Israel govt nod for mid-stage study of potential COVID-19 therapy ** J.Jill JILL.N: up 40.2% BUZZ- Surges after top shareholder increases stake ** Athira Pharma ATHA.O: up 7.9% BUZZ- Analysts see potential on Alzheimer's drug candidate, shares rise ** AZZ Inc AZZ.N: down 4.9% BUZZ- Falls as quarterly sales miss estimates ** Ovintiv Inc OVV.N: up 0.7% BUZZ- Gains as Pipestone Processing Facility starts ** JPMorgan Chase & Co JPM.N: down 1.4% ** Citigroup C.N: down 4.3% ** Goldman Sachs GS.N: down 1.8% ** Wells Fargo WFC.N: down 2.8% ** Bank of America BAC.N: down 2.3% ** Morgan Stanley MS.N: down 0.9% BUZZ-U.S. big banks slide with Wall Street on COVID-19 vaccine worries ** RedHill RDHL.O: up 3.4% BUZZ- Rises on deals to ramp up manufacturing of COVID-19 treatment ** Apple Inc AAPL.O: down 1.1% BUZZ- Dips ahead of iPhone debut event ** PG&E PCG.N: down 0.5% BUZZ- Falls as U.S. judge demands explanation on co's role in Zogg Fire ** Moderna Inc MRNA.O: up 3.9% BUZZ- Jumps as Canada to review its COVID-19 vaccine candidate in real time The 11 major S&P 500 sectors: Communication Services
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The Dow and the S&P 500 fell on Tuesday after a four-day winning streak as a pause in Johnson & Johnson's COVID-19 trial triggered concerns about the timing of a vaccine, although a rally in technology shares supported the Nasdaq. .N At 12:43 ET, the Dow Jones Industrial Average .DJI was down 0.46% at 28,705.56, the S&P 500 .SPX was down 0.40% at 3,520.23, while the Nasdaq Composite .IXIC was up 0.18% at 11,897.218. The top three S&P 500 .PG.INX percentage gainers: ** Waters Corp , up 6.4% ** Blackrock Inc , up 4.7% ** Etsy Inc , up 4.4% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd , down 11.5% ** Norwegian Cruise Line Holdings Ltd , down 6.9% ** Carnival Corp , down 6.6% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 15.4% ** Armstrong Flooring Inc , up 14.2% ** Daqo New Energy Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** FTS International Inc , down 13.8% ** Dillard's Inc , down 12.9% ** Royal Caribbean Cruises Ltd , down 11.5% The top three Nasdaq .PG.O percentage gainers: ** Medigus Ltd , up 68.2% ** Larimar Therapeutics Inc , up 23.8% ** BiondVax Pharmaceuticals Ltd , up 18.8% The top three Nasdaq .PL.O percentage losers: ** Gossamer Bio Inc , down 33.2% ** Loop Industries Inc , down 32.3% ** Wah Fu Education Group Limited , down 30% ** Johnson & Johnson JNJ.N: down 2.1% BUZZ- Falls on halting COVID-19 vaccine trials due to unexplained illness ** Tesla TSLA.O: up 0.1% BUZZ-Tesla cuts U.S., Chinese prices of Model S variant; shares up ** Walt Disney DIS.N: up 4.0% BUZZ- Up after reorganization puts streaming back in focus ** BlackRock Inc BLK.N: up 4.7% BUZZ- Rises on strong Q3 profit ** Beyond Meat Inc BYND.O: down 3.9% BUZZ- Falls on report of Bernstein downgrade ** Mesoblast Ltd MESO.O: up 0.7% BUZZ- U.S. shares rise after co enrolls patients for COVID-19 therapy trial ** Royal Caribbean Cruises Ltd RCL.N: down 11.5% BUZZ- Slides on planned $1 bln capital raise ** Gossamer Bio GOSS.O: down 33.2% BUZZ- Slips after drug fails asthma and rhinosinusitis study ** Micron Technology MU.O: up 2.6% BUZZ- Gains as brokerage upgrades to 'buy', raises PT ** Axovant AXGT.O: up 0.1% BUZZ- Rises after FDA grants rare pediatric disease tag to gene therapy ** AMC Entertainment AMC.N: down 9.2% BUZZ- Falls on flagging depleted cash reserves ** Farmmi Inc FAMI.O: up 0.1% BUZZ- Rises on follow-on order for exports to Canada ** Foot Locker FL.N: up 0.8% BUZZ- BofA sees strong holiday season momentum, upgrades ** Vaxart VXRT.O: up 8.3% BUZZ- Rises as co begins human trial of oral COVID-19 vaccine ** Peck Company PECK.O: up 7.5% BUZZ- Surges on $7.6 mln solar project contracts ** Novavax NVAX.O: up 7.9% BUZZ- Up on forming team to explore combined influenza/COVID-19 vaccine ** Amazon Inc AMZN.O: up 1.0% BUZZ- Shares rise as 'Prime Day' kicks off ** Loop Industries LOOP.O: down 32.3% BUZZ- Sinks as Hindenburg Research reveals short position ** Dynavax DVAX.O: up 8.1% BUZZ- Rises as COVID-19 vaccine using co's booster gets subsidy in Taiwan ** Delta Air DAL.N: down 2.7% BUZZ- Falls as Q3 revenue slides, co delays target to halt cash burn ** PMV Pharma PMVP.O: up 3.3% BUZZ- Rises as FDA grants fast track tag to cancer drug ** Enlivex ENLV.O: up 18.4% BUZZ- Up on Israel govt nod for mid-stage study of potential COVID-19 therapy ** J.Jill JILL.N: up 40.2% BUZZ- Surges after top shareholder increases stake ** Athira Pharma ATHA.O: up 7.9% BUZZ- Analysts see potential on Alzheimer's drug candidate, shares rise ** AZZ Inc AZZ.N: down 4.9% BUZZ- Falls as quarterly sales miss estimates ** Ovintiv Inc OVV.N: up 0.7% BUZZ- Gains as Pipestone Processing Facility starts ** JPMorgan Chase & Co JPM.N: down 1.4% ** Citigroup C.N: down 4.3% ** Goldman Sachs GS.N: down 1.8% ** Wells Fargo WFC.N: down 2.8% ** Bank of America BAC.N: down 2.3% ** Morgan Stanley MS.N: down 0.9% BUZZ-U.S. big banks slide with Wall Street on COVID-19 vaccine worries ** RedHill RDHL.O: up 3.4% BUZZ- Rises on deals to ramp up manufacturing of COVID-19 treatment ** Apple Inc AAPL.O: down 1.1% BUZZ- Dips ahead of iPhone debut event ** PG&E PCG.N: down 0.5% BUZZ- Falls as U.S. judge demands explanation on co's role in Zogg Fire ** Moderna Inc MRNA.O: up 3.9% BUZZ- Jumps as Canada to review its COVID-19 vaccine candidate in real time The 11 major S&P 500 sectors: Communication Services
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The top three S&P 500 .PG.INX percentage gainers: ** Waters Corp , up 6.4% ** Blackrock Inc , up 4.7% ** Etsy Inc , up 4.4% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd , down 11.5% ** Norwegian Cruise Line Holdings Ltd , down 6.9% ** Carnival Corp , down 6.6% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 15.4% ** Armstrong Flooring Inc , up 14.2% ** Daqo New Energy Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** FTS International Inc , down 13.8% ** Dillard's Inc , down 12.9% ** Royal Caribbean Cruises Ltd , down 11.5% The top three Nasdaq .PG.O percentage gainers: ** Medigus Ltd , up 68.2% ** Larimar Therapeutics Inc , up 23.8% ** BiondVax Pharmaceuticals Ltd , up 18.8% The top three Nasdaq .PL.O percentage losers: ** Gossamer Bio Inc , down 33.2% ** Loop Industries Inc , down 32.3% ** Wah Fu Education Group Limited , down 30% ** Johnson & Johnson JNJ.N: down 2.1% BUZZ- Falls on halting COVID-19 vaccine trials due to unexplained illness ** Tesla TSLA.O: up 0.1% BUZZ-Tesla cuts U.S., Chinese prices of Model S variant; shares up ** Walt Disney DIS.N: up 4.0% BUZZ- Up after reorganization puts streaming back in focus ** BlackRock Inc BLK.N: up 4.7% BUZZ- Rises on strong Q3 profit ** Beyond Meat Inc BYND.O: down 3.9% BUZZ- Falls on report of Bernstein downgrade ** Mesoblast Ltd MESO.O: up 0.7% BUZZ- U.S. shares rise after co enrolls patients for COVID-19 therapy trial ** Royal Caribbean Cruises Ltd RCL.N: down 11.5% BUZZ- Slides on planned $1 bln capital raise ** Gossamer Bio GOSS.O: down 33.2% BUZZ- Slips after drug fails asthma and rhinosinusitis study ** Micron Technology MU.O: up 2.6% BUZZ- Gains as brokerage upgrades to 'buy', raises PT ** Axovant AXGT.O: up 0.1% BUZZ- Rises after FDA grants rare pediatric disease tag to gene therapy ** AMC Entertainment AMC.N: down 9.2% BUZZ- Falls on flagging depleted cash reserves ** Farmmi Inc FAMI.O: up 0.1% BUZZ- Rises on follow-on order for exports to Canada ** Foot Locker FL.N: up 0.8% BUZZ- BofA sees strong holiday season momentum, upgrades ** Vaxart VXRT.O: up 8.3% BUZZ- Rises as co begins human trial of oral COVID-19 vaccine ** Peck Company PECK.O: up 7.5% BUZZ- Surges on $7.6 mln solar project contracts ** Novavax NVAX.O: up 7.9% BUZZ- Up on forming team to explore combined influenza/COVID-19 vaccine ** Amazon Inc AMZN.O: up 1.0% BUZZ- Shares rise as 'Prime Day' kicks off ** Loop Industries LOOP.O: down 32.3% BUZZ- Sinks as Hindenburg Research reveals short position ** Dynavax DVAX.O: up 8.1% BUZZ- Rises as COVID-19 vaccine using co's booster gets subsidy in Taiwan ** Delta Air DAL.N: down 2.7% BUZZ- Falls as Q3 revenue slides, co delays target to halt cash burn ** PMV Pharma PMVP.O: up 3.3% BUZZ- Rises as FDA grants fast track tag to cancer drug ** Enlivex ENLV.O: up 18.4% BUZZ- Up on Israel govt nod for mid-stage study of potential COVID-19 therapy ** J.Jill JILL.N: up 40.2% BUZZ- Surges after top shareholder increases stake ** Athira Pharma ATHA.O: up 7.9% BUZZ- Analysts see potential on Alzheimer's drug candidate, shares rise ** AZZ Inc AZZ.N: down 4.9% BUZZ- Falls as quarterly sales miss estimates ** Ovintiv Inc OVV.N: up 0.7% BUZZ- Gains as Pipestone Processing Facility starts ** JPMorgan Chase & Co JPM.N: down 1.4% ** Citigroup C.N: down 4.3% ** Goldman Sachs GS.N: down 1.8% ** Wells Fargo WFC.N: down 2.8% ** Bank of America BAC.N: down 2.3% ** Morgan Stanley MS.N: down 0.9% BUZZ-U.S. big banks slide with Wall Street on COVID-19 vaccine worries ** RedHill RDHL.O: up 3.4% BUZZ- Rises on deals to ramp up manufacturing of COVID-19 treatment ** Apple Inc AAPL.O: down 1.1% BUZZ- Dips ahead of iPhone debut event ** PG&E PCG.N: down 0.5% BUZZ- Falls as U.S. judge demands explanation on co's role in Zogg Fire ** Moderna Inc MRNA.O: up 3.9% BUZZ- Jumps as Canada to review its COVID-19 vaccine candidate in real time The 11 major S&P 500 sectors: Communication Services up 0.35% Consumer Discretionary up 0.37% Consumer Staples
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The Dow and the S&P 500 fell on Tuesday after a four-day winning streak as a pause in Johnson & Johnson's COVID-19 trial triggered concerns about the timing of a vaccine, although a rally in technology shares supported the Nasdaq. .N At 12:43 ET, the Dow Jones Industrial Average .DJI was down 0.46% at 28,705.56, the S&P 500 .SPX was down 0.40% at 3,520.23, while the Nasdaq Composite .IXIC was up 0.18% at 11,897.218. The top three S&P 500 .PG.INX percentage gainers: ** Waters Corp , up 6.4% ** Blackrock Inc , up 4.7% ** Etsy Inc , up 4.4% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd , down 11.5% ** Norwegian Cruise Line Holdings Ltd , down 6.9% ** Carnival Corp , down 6.6% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 15.4% ** Armstrong Flooring Inc , up 14.2% ** Daqo New Energy Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** FTS International Inc , down 13.8% ** Dillard's Inc , down 12.9% ** Royal Caribbean Cruises Ltd , down 11.5% The top three Nasdaq .PG.O percentage gainers: ** Medigus Ltd , up 68.2% ** Larimar Therapeutics Inc , up 23.8% ** BiondVax Pharmaceuticals Ltd , up 18.8% The top three Nasdaq .PL.O percentage losers: ** Gossamer Bio Inc , down 33.2% ** Loop Industries Inc , down 32.3% ** Wah Fu Education Group Limited , down 30% ** Johnson & Johnson JNJ.N: down 2.1% BUZZ- Falls on halting COVID-19 vaccine trials due to unexplained illness ** Tesla TSLA.O: up 0.1% BUZZ-Tesla cuts U.S., Chinese prices of Model S variant; shares up ** Walt Disney DIS.N: up 4.0% BUZZ- Up after reorganization puts streaming back in focus ** BlackRock Inc BLK.N: up 4.7% BUZZ- Rises on strong Q3 profit ** Beyond Meat Inc BYND.O: down 3.9% BUZZ- Falls on report of Bernstein downgrade ** Mesoblast Ltd MESO.O: up 0.7% BUZZ- U.S. shares rise after co enrolls patients for COVID-19 therapy trial ** Royal Caribbean Cruises Ltd RCL.N: down 11.5% BUZZ- Slides on planned $1 bln capital raise ** Gossamer Bio GOSS.O: down 33.2% BUZZ- Slips after drug fails asthma and rhinosinusitis study ** Micron Technology MU.O: up 2.6% BUZZ- Gains as brokerage upgrades to 'buy', raises PT ** Axovant AXGT.O: up 0.1% BUZZ- Rises after FDA grants rare pediatric disease tag to gene therapy ** AMC Entertainment AMC.N: down 9.2% BUZZ- Falls on flagging depleted cash reserves ** Farmmi Inc FAMI.O: up 0.1% BUZZ- Rises on follow-on order for exports to Canada ** Foot Locker FL.N: up 0.8% BUZZ- BofA sees strong holiday season momentum, upgrades ** Vaxart VXRT.O: up 8.3% BUZZ- Rises as co begins human trial of oral COVID-19 vaccine ** Peck Company PECK.O: up 7.5% BUZZ- Surges on $7.6 mln solar project contracts ** Novavax NVAX.O: up 7.9% BUZZ- Up on forming team to explore combined influenza/COVID-19 vaccine ** Amazon Inc AMZN.O: up 1.0% BUZZ- Shares rise as 'Prime Day' kicks off ** Loop Industries LOOP.O: down 32.3% BUZZ- Sinks as Hindenburg Research reveals short position ** Dynavax DVAX.O: up 8.1% BUZZ- Rises as COVID-19 vaccine using co's booster gets subsidy in Taiwan ** Delta Air DAL.N: down 2.7% BUZZ- Falls as Q3 revenue slides, co delays target to halt cash burn ** PMV Pharma PMVP.O: up 3.3% BUZZ- Rises as FDA grants fast track tag to cancer drug ** Enlivex ENLV.O: up 18.4% BUZZ- Up on Israel govt nod for mid-stage study of potential COVID-19 therapy ** J.Jill JILL.N: up 40.2% BUZZ- Surges after top shareholder increases stake ** Athira Pharma ATHA.O: up 7.9% BUZZ- Analysts see potential on Alzheimer's drug candidate, shares rise ** AZZ Inc AZZ.N: down 4.9% BUZZ- Falls as quarterly sales miss estimates ** Ovintiv Inc OVV.N: up 0.7% BUZZ- Gains as Pipestone Processing Facility starts ** JPMorgan Chase & Co JPM.N: down 1.4% ** Citigroup C.N: down 4.3% ** Goldman Sachs GS.N: down 1.8% ** Wells Fargo WFC.N: down 2.8% ** Bank of America BAC.N: down 2.3% ** Morgan Stanley MS.N: down 0.9% BUZZ-U.S. big banks slide with Wall Street on COVID-19 vaccine worries ** RedHill RDHL.O: up 3.4% BUZZ- Rises on deals to ramp up manufacturing of COVID-19 treatment ** Apple Inc AAPL.O: down 1.1% BUZZ- Dips ahead of iPhone debut event ** PG&E PCG.N: down 0.5% BUZZ- Falls as U.S. judge demands explanation on co's role in Zogg Fire ** Moderna Inc MRNA.O: up 3.9% BUZZ- Jumps as Canada to review its COVID-19 vaccine candidate in real time The 11 major S&P 500 sectors: Communication Services
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5f7b53e1-aba5-487e-9a98-e8dfd0e51a22
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719522.0
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2020-10-12 00:00:00 UTC
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Why Dillard's Stock Skyrocketed 46% at the Open Today
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DDS
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https://www.nasdaq.com/articles/why-dillards-stock-skyrocketed-46-at-the-open-today-2020-10-12
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nan
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nan
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What happened
Shares of U.S. retailer Dillard's (NYSE: DDS) rose as much as 46% in early trading on Monday. That massive price increase didn't stick around for long, with the stock up "only" by a third or so at 10:30 a.m. EDT today. Clearly, investor sentiment turned higher here in a big way, a shift that was largely driven by Ted Weschler.
So what
Don't feel bad if you don't know the name Ted Weschler off the top of your head. But you are highly likely to know his boss, Warren Buffett, and his employer, Berkshire Hathaway. Weschler is one of Buffett's key lieutenants and handles a portion of Berkshire's investments. When he invests in something, with his own cash, it can have a big impact on the stock. And that's exactly what happened with Dillard's today.
Image source: Getty Images
Weschler disclosed that he had personally acquired 1.081 million shares of Dillard's stock, or just under 6% of the retailer's common shares. The news was also reported by Barron's on Friday after the market closed for the day, boosting Wall Street's awareness of the information. Based on today's gain, it's likely that this investment has already been pretty decent for Weschler. Investors are clearly pilling in behind him hoping that his bet on Dillard's will be fruitful for them, too.
Now what
If you are considering Dillard's stock because of the big gain, step back and take a moment. Nothing has changed at the company other than the fact that a well-heeled investor has bought shares and Wall Street has tagged along behind him. There's likely a lot of positive news priced in here with such a massive increase at this point. Long-term investors should probably examine the fundamentals themselves (very closely) before following along like a lemming.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of September 24, 2020
Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of U.S. retailer Dillard's (NYSE: DDS) rose as much as 46% in early trading on Monday. Clearly, investor sentiment turned higher here in a big way, a shift that was largely driven by Ted Weschler. The news was also reported by Barron's on Friday after the market closed for the day, boosting Wall Street's awareness of the information.
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What happened Shares of U.S. retailer Dillard's (NYSE: DDS) rose as much as 46% in early trading on Monday. That massive price increase didn't stick around for long, with the stock up "only" by a third or so at 10:30 a.m. EDT today. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.
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What happened Shares of U.S. retailer Dillard's (NYSE: DDS) rose as much as 46% in early trading on Monday. Image source: Getty Images Weschler disclosed that he had personally acquired 1.081 million shares of Dillard's stock, or just under 6% of the retailer's common shares. 10 stocks we like better than Dillard's When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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What happened Shares of U.S. retailer Dillard's (NYSE: DDS) rose as much as 46% in early trading on Monday. When he invests in something, with his own cash, it can have a big impact on the stock. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them!
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323d0609-7ec1-4ce7-b3d8-7c22e3cdd1e9
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719523.0
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2020-10-12 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Twitter, Acorn, Dillard's, PG&E
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DDS
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-twitter-acorn-dillards-pge-2020-10-12
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
The tech-heavy Nasdaq led Wall Street's main indexes higher on Monday as optimism about an agreement in Washington over more fiscal support lifted sentiment ahead of the start of quarterly corporate earnings. .N
At 9:53 ET, the Dow Jones Industrial Average .DJI was up 0.45% at 28,714.54. The S&P 500 .SPX was up 0.71% at 3,501.84 and the Nasdaq Composite .IXIC was up 1.13% at 11,710.686. The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 5.2% ** Westrock Company , up 4.7% ** Twitter Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.6% ** Occidental Petroleum Corp , down 3.5% ** Concho Resources Inc , down 3.2% The top three NYSE .PG.N percentage gainers: ** Acorn International Inc , up 34.7% ** Dillard's Inc , up 23.6% ** Ihuman Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Adams Resources & Energy Inc , down 15.6% ** Tufin Software Technologies Ltd , down 14.2% ** Renesola Ltd , down 14% The top three Nasdaq .PG.O percentage gainers: ** Lizhi Inc , up 58.5% ** Apex Global Brands Inc , up 19.6% ** Forum Merger II Corp , up 19.1% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 55.2% ** Zynex Inc , down 27.4% ** Marine Petroleum Trust , down 27.3% ** Alibaba Group Holding Limited BABA.N: up 1.1% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 4.1% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** Draftkings Inc DKNG.O: up 6.0% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.0% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 0.8% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 55.2%
** Fortress Biotech Inc FBIO.O: down 19.0% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 3.0% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** RedBall Acquisition Corp RBAC.N: up 5.7% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 5.2% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 4.6% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 2.2% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 7.2% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 13.2% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 1.2% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 2.6% BUZZ- Rises ahead of special event on Tuesday ** LMP Automotive Holdings LMPX.O: up 4.7% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 3.2%
BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 15.7%
BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 34.7%
BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 1.3%
BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.5%
BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 23.6%
BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.05%
Consumer Discretionary
.SPLRCD
up 1.12%
Consumer Staples
.SPLRCS
up 0.74%
Energy
.SPNY
down 1.06%
Financial
.SPSY
up 0.45%
Health
.SPXHC
up 0.39%
Industrial
.SPLRCI
up 0.43%
Information Technology
.SPLRCT
up 1.03%
Materials
.SPLRCM
up 0.10%
Real Estate
.SPLRCR
down 0.12%
Utilities
.SPLRCU
up 0.29%
(Compiled by Dania Nadeem in Bengaluru)
((Dania.Nadeem@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 5.2% ** Westrock Company , up 4.7% ** Twitter Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.6% ** Occidental Petroleum Corp , down 3.5% ** Concho Resources Inc , down 3.2% The top three NYSE .PG.N percentage gainers: ** Acorn International Inc , up 34.7% ** Dillard's Inc , up 23.6% ** Ihuman Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Adams Resources & Energy Inc , down 15.6% ** Tufin Software Technologies Ltd , down 14.2% ** Renesola Ltd , down 14% The top three Nasdaq .PG.O percentage gainers: ** Lizhi Inc , up 58.5% ** Apex Global Brands Inc , up 19.6% ** Forum Merger II Corp , up 19.1% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 55.2% ** Zynex Inc , down 27.4% ** Marine Petroleum Trust , down 27.3% ** Alibaba Group Holding Limited BABA.N: up 1.1% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 4.1% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** Draftkings Inc DKNG.O: up 6.0% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.0% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 0.8% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 55.2% ** Fortress Biotech Inc FBIO.O: down 19.0% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 3.0% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** RedBall Acquisition Corp RBAC.N: up 5.7% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 5.2% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 4.6% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 2.2% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 7.2% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 13.2% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 1.2% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 2.6% BUZZ- Rises ahead of special event on Tuesday ** LMP Automotive Holdings LMPX.O: up 4.7% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 3.2% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 15.7% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 34.7% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 1.3% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.5% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 23.6% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The tech-heavy Nasdaq led Wall Street's main indexes higher on Monday as optimism about an agreement in Washington over more fiscal support lifted sentiment ahead of the start of quarterly corporate earnings. up 0.29% (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 5.2% ** Westrock Company , up 4.7% ** Twitter Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.6% ** Occidental Petroleum Corp , down 3.5% ** Concho Resources Inc , down 3.2% The top three NYSE .PG.N percentage gainers: ** Acorn International Inc , up 34.7% ** Dillard's Inc , up 23.6% ** Ihuman Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Adams Resources & Energy Inc , down 15.6% ** Tufin Software Technologies Ltd , down 14.2% ** Renesola Ltd , down 14% The top three Nasdaq .PG.O percentage gainers: ** Lizhi Inc , up 58.5% ** Apex Global Brands Inc , up 19.6% ** Forum Merger II Corp , up 19.1% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 55.2% ** Zynex Inc , down 27.4% ** Marine Petroleum Trust , down 27.3% ** Alibaba Group Holding Limited BABA.N: up 1.1% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 4.1% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** Draftkings Inc DKNG.O: up 6.0% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.0% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 0.8% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 55.2% ** Fortress Biotech Inc FBIO.O: down 19.0% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 3.0% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** RedBall Acquisition Corp RBAC.N: up 5.7% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 5.2% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 4.6% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 2.2% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 7.2% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 13.2% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 1.2% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 2.6% BUZZ- Rises ahead of special event on Tuesday ** LMP Automotive Holdings LMPX.O: up 4.7% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 3.2% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 15.7% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 34.7% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 1.3% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.5% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 23.6% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The tech-heavy Nasdaq led Wall Street's main indexes higher on Monday as optimism about an agreement in Washington over more fiscal support lifted sentiment ahead of the start of quarterly corporate earnings. up 0.29% (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 5.2% ** Westrock Company , up 4.7% ** Twitter Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.6% ** Occidental Petroleum Corp , down 3.5% ** Concho Resources Inc , down 3.2% The top three NYSE .PG.N percentage gainers: ** Acorn International Inc , up 34.7% ** Dillard's Inc , up 23.6% ** Ihuman Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Adams Resources & Energy Inc , down 15.6% ** Tufin Software Technologies Ltd , down 14.2% ** Renesola Ltd , down 14% The top three Nasdaq .PG.O percentage gainers: ** Lizhi Inc , up 58.5% ** Apex Global Brands Inc , up 19.6% ** Forum Merger II Corp , up 19.1% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 55.2% ** Zynex Inc , down 27.4% ** Marine Petroleum Trust , down 27.3% ** Alibaba Group Holding Limited BABA.N: up 1.1% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 4.1% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** Draftkings Inc DKNG.O: up 6.0% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.0% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 0.8% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 55.2% ** Fortress Biotech Inc FBIO.O: down 19.0% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 3.0% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** RedBall Acquisition Corp RBAC.N: up 5.7% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 5.2% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 4.6% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 2.2% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 7.2% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 13.2% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 1.2% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 2.6% BUZZ- Rises ahead of special event on Tuesday ** LMP Automotive Holdings LMPX.O: up 4.7% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 3.2% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 15.7% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 34.7% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 1.3% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.5% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 23.6% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake The 11 major S&P 500 sectors: Communication Services .N At 9:53 ET, the Dow Jones Industrial Average .DJI was up 0.45% at 28,714.54. up 1.05% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 5.2% ** Westrock Company , up 4.7% ** Twitter Inc , up 4.6% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.6% ** Occidental Petroleum Corp , down 3.5% ** Concho Resources Inc , down 3.2% The top three NYSE .PG.N percentage gainers: ** Acorn International Inc , up 34.7% ** Dillard's Inc , up 23.6% ** Ihuman Inc , up 11.2% The top three NYSE .PL.N percentage losers: ** Adams Resources & Energy Inc , down 15.6% ** Tufin Software Technologies Ltd , down 14.2% ** Renesola Ltd , down 14% The top three Nasdaq .PG.O percentage gainers: ** Lizhi Inc , up 58.5% ** Apex Global Brands Inc , up 19.6% ** Forum Merger II Corp , up 19.1% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 55.2% ** Zynex Inc , down 27.4% ** Marine Petroleum Trust , down 27.3% ** Alibaba Group Holding Limited BABA.N: up 1.1% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 4.1% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** Draftkings Inc DKNG.O: up 6.0% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.0% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 0.8% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 55.2% ** Fortress Biotech Inc FBIO.O: down 19.0% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 3.0% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** RedBall Acquisition Corp RBAC.N: up 5.7% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 5.2% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 4.6% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 2.2% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 7.2% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 13.2% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 1.2% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 2.6% BUZZ- Rises ahead of special event on Tuesday ** LMP Automotive Holdings LMPX.O: up 4.7% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 3.2% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 15.7% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 34.7% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 1.3% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.5% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 23.6% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The tech-heavy Nasdaq led Wall Street's main indexes higher on Monday as optimism about an agreement in Washington over more fiscal support lifted sentiment ahead of the start of quarterly corporate earnings. .N At 9:53 ET, the Dow Jones Industrial Average .DJI was up 0.45% at 28,714.54.
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10949602-531a-41f4-a54b-34820801e90b
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719524.0
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2020-10-12 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Facebook, Apple, Goldman Sachs, Amazon
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DDS
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-facebook-apple-goldman-sachs-amazon-2020-10-12
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes rose for a fourth straight session on Monday on optimism that a coronavirus relief package would eventually come around, while investors geared up for the third-quarter corporate earnings season. .N
At 12:47 ET, the Dow Jones Industrial Average .DJI was up 1.08% at 28,896.88. The S&P 500 .SPX was up 1.84% at 3,541.19 and the Nasdaq Composite .IXIC was up 2.82% at 11,906.9. The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk
** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1%
** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9%
BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5%
BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3%
BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8%
BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7%
BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5%
BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5%
BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7%
BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8%
BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4%
BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3%
BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6%
BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6%
BUZZ- Jumps on launching cloud-based digital platform
** Lazydays Holdings LAZY.O: up 7.9%
BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2%
BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1%
BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7%
BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2%
BUZZ-Sonoco to divest European unit for $120 mln, shares rise
** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3%
** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8%
BUZZ-FAANG stocks rise on wider market gains
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 2.82%
Consumer Discretionary
.SPLRCD
up 2.53%
Consumer Staples
.SPLRCS
up 1.59%
Energy
.SPNY
down 0.36%
Financial
.SPSY
up 0.73%
Health
.SPXHC
up 0.98%
Industrial
.SPLRCI
up 0.76%
Information Technology
.SPLRCT
up 2.94%
Materials
.SPLRCM
up 0.51%
Real Estate
.SPLRCR
up 0.11%
Utilities
.SPLRCU
up 0.92%
(Compiled by Dania Nadeem in Bengaluru)
((Dania.Nadeem@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
|
The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1% ** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5% BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7% BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8% BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4% BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3% BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6% BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6% BUZZ- Jumps on launching cloud-based digital platform ** Lazydays Holdings LAZY.O: up 7.9% BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2% BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1% BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7% BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2% BUZZ-Sonoco to divest European unit for $120 mln, shares rise ** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3% ** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8% BUZZ-FAANG stocks rise on wider market gains The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose for a fourth straight session on Monday on optimism that a coronavirus relief package would eventually come around, while investors geared up for the third-quarter corporate earnings season. up 0.92% (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1% ** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5% BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7% BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8% BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4% BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3% BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6% BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6% BUZZ- Jumps on launching cloud-based digital platform ** Lazydays Holdings LAZY.O: up 7.9% BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2% BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1% BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7% BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2% BUZZ-Sonoco to divest European unit for $120 mln, shares rise ** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3% ** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8% BUZZ-FAANG stocks rise on wider market gains The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose for a fourth straight session on Monday on optimism that a coronavirus relief package would eventually come around, while investors geared up for the third-quarter corporate earnings season. up 0.92% (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1% ** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5% BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7% BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8% BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4% BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3% BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6% BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6% BUZZ- Jumps on launching cloud-based digital platform ** Lazydays Holdings LAZY.O: up 7.9% BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2% BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1% BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7% BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2% BUZZ-Sonoco to divest European unit for $120 mln, shares rise ** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3% ** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8% BUZZ-FAANG stocks rise on wider market gains The 11 major S&P 500 sectors: Communication Services up 2.82% Consumer Discretionary up 2.53% Consumer Staples
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The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1% ** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5% BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7% BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8% BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4% BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3% BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6% BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6% BUZZ- Jumps on launching cloud-based digital platform ** Lazydays Holdings LAZY.O: up 7.9% BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2% BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1% BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7% BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2% BUZZ-Sonoco to divest European unit for $120 mln, shares rise ** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3% ** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8% BUZZ-FAANG stocks rise on wider market gains The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes rose for a fourth straight session on Monday on optimism that a coronavirus relief package would eventually come around, while investors geared up for the third-quarter corporate earnings season. .N At 12:47 ET, the Dow Jones Industrial Average .DJI was up 1.08% at 28,896.88.
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d66c5659-777c-4f6e-9b4d-2affa3c8988b
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719525.0
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2020-10-11 00:00:00 UTC
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Why Warren Buffett's Protege Just Bought This Dirt-Cheap Brick-and-Mortar Retailer
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DDS
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https://www.nasdaq.com/articles/why-warren-buffetts-protege-just-bought-this-dirt-cheap-brick-and-mortar-retailer-2020-10
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nan
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nan
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Looks as if one of Warren Buffett's two younger lieutenants at Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) just made a la.rge deep-value investment. Ted Wechsler, who joined Berkshire in 2011, recently disclosed that he had personally bought 1.08 million shares of Dillard's (NYSE: DDS), the beleaguered department store, good for 5.89% of its outstanding shares. We don't know exactly when Wechsler had been buying, though we do know that he crossed the 5% mark on Sept 29, necessitating a filing. Of note, Wechsler made this purchase personally, and not as part of Berkshire's equity portfolio.
Dillard's had seen relatively lackluster business even before COVID-19 hit, which caused an even bigger drop in sales. Moreover, the company was removed from the S&P MidCap 400 Index in June, as its market cap plunged below $1 billion after the stock has fallen a whopping 43% this year.
So what has Wechsler believing Dillard's is a real value, and not the next J.C. Penney-type bankruptcy? Here are three reasons to believe in Dillard's as a deep value pick.
Ted Wechsler scooped up shares of department store Dillard's. Image source: Getty Images.
Owning its own real estate
Unlike just about every other major retailer out there, Dillard's has chosen the route of owning its own real estate at most of its locations, rather than leasing. Dillard's has its own in-house general contractor that it pays for construction, which further saves on costs. That strategy is more capital-expensive and may slow down the rollout of new stores, but it also allows a company to save on rent expenses over time. Perhaps most importantly, real estate value tends to appreciate over time, giving the company assets it can sell when times get tough.
That's just what Dillard's is doing. At the end of fiscal 2019, Dillard's owned 244 out of its 285 locations outright, owned the building on leased land at 10 other locations, and partially owned and partially leased six others, leaving just 25 locations where it leases its stores. The company also owns all of its distribution centers as well as its corporate headquarters.
On the company's balance sheet, it counts nearly $1.39 billion in property and equipment, net of depreciation. That property, along with the company's liquid current assets, makes up most of its $1.37 billion in book value, which consists of these liquid assets minus Dillard's current liabilities and very manageable $365.8 million in debt, most of which matures five years or longer from now.
Wechsler might be seeing the company's real estate as hidden value for the stock, which currently has a market cap of only $940 million. And Dillard's has already doubled over its 52-week lows set back in July, when it's possible Wechsler began taking a position.
And the real estate story only gets better
But the real estate story gets even better when one considers the value of Dillard's real estate is recorded at cost on the balance sheet. Even in these tough times for retail real estate, those assets are likely to be much more valuable than the original cost of building those sites, which go back years or decades.
In 2019, Dillard's sold six of its properties for $30.6 million, good for a gain of $20.3 million over cost. Extrapolating that out to Dillard's owned real estate portfolio, its 244 owned locations would be worth $1.25 billion. Of course, that doesn't count the companies' partially owned properties, distribution centers, or headquarters.
Applying the tripling in property value of these sold properties since construction to overall property and equipment, gains on those properties could increase the value of the company's assets by $2.78 billion in a liquidation scenario, and book value would increase by about $2 billion net of tax. That would theoretically bring the company's "real" book value to just over $3 billion.
Thus, Dillard's could actually be selling for as much as 30% of its liquidation value. That's most likely what Wechsler sees as the big margin of safety.
Invested ownership
Of course, even if a company is trading below liquidation value, a company's management can fritter that value away through cash-burning decisions that may attempt to diversify into new businesses or revive hopeless stores. Fortunately, management is pruning underperforming stores and selling off properties in a slow, methodical manner. It has also managed to keep up its free cash flow through expense and inventory control, even as the overall business is showing slight declines.
That could be because the three sons of founder William Dillard -- one of whom is the CEO -- control the company and retain high ownership. The brothers hold a combined 14.9% of "A" shares individually, as well as another 17.2% of the company through "B" shares, which gives them a majority control of Dillard's decision-making.
If that weren't enough, all executive officers and directors own 23.4% of the existing shares, and the company's 401(k) plan for employees, managed through a company called Newport Trust, is a big shareholder as well, actually owning a whopping 37.4% of "A" shares.
A highly invested management and workforce is probably another reason Wechsler has gotten behind Dillard's stock.
Results weren't that bad
Finally, Dillard's performed better than feared even a amid the coronavirus outbreak in the second quarter. Though revenue was down by about a third from the prior year, that was better than expected, coming in a quarter when many of its stores were completely closed for part of the time. In fact, because of impressive cost controls, the company had only an $8.5 million net loss last quarter, which isn't so bad.
The company even continued repurchasing shares during Q2, and Dillard's has continued to pay its $0.15 quarterly dividend, which now yields 1.43%.
The big picture
Considering the real estate portfolio, better-than-feared results, and highly invested management, it's clear that Dillard's should be on the radar for any deep value investor. While the stock is out of favor now, it's no surprise that Warren Buffett's protege is investing in a bargain-basement-priced stock with a large margin of safety to its real estate portfolio, when everyone else is chasing high-flying technology stocks and IPOs.
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Billy Duberstein owns shares of Berkshire Hathaway (B shares). His clients may own shares of the companies mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares) and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short December 2020 $210 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Ted Wechsler, who joined Berkshire in 2011, recently disclosed that he had personally bought 1.08 million shares of Dillard's (NYSE: DDS), the beleaguered department store, good for 5.89% of its outstanding shares. Moreover, the company was removed from the S&P MidCap 400 Index in June, as its market cap plunged below $1 billion after the stock has fallen a whopping 43% this year. Even in these tough times for retail real estate, those assets are likely to be much more valuable than the original cost of building those sites, which go back years or decades.
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Ted Wechsler, who joined Berkshire in 2011, recently disclosed that he had personally bought 1.08 million shares of Dillard's (NYSE: DDS), the beleaguered department store, good for 5.89% of its outstanding shares. At the end of fiscal 2019, Dillard's owned 244 out of its 285 locations outright, owned the building on leased land at 10 other locations, and partially owned and partially leased six others, leaving just 25 locations where it leases its stores. Of course, that doesn't count the companies' partially owned properties, distribution centers, or headquarters.
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Ted Wechsler, who joined Berkshire in 2011, recently disclosed that he had personally bought 1.08 million shares of Dillard's (NYSE: DDS), the beleaguered department store, good for 5.89% of its outstanding shares. And the real estate story only gets better But the real estate story gets even better when one considers the value of Dillard's real estate is recorded at cost on the balance sheet. If that weren't enough, all executive officers and directors own 23.4% of the existing shares, and the company's 401(k) plan for employees, managed through a company called Newport Trust, is a big shareholder as well, actually owning a whopping 37.4% of "A" shares.
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Ted Wechsler, who joined Berkshire in 2011, recently disclosed that he had personally bought 1.08 million shares of Dillard's (NYSE: DDS), the beleaguered department store, good for 5.89% of its outstanding shares. That's just what Dillard's is doing. Wechsler might be seeing the company's real estate as hidden value for the stock, which currently has a market cap of only $940 million.
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acb43b28-8265-4287-b370-1aca9b58746a
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719526.0
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2020-09-30 00:00:00 UTC
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Hibbett Sports Is Crushing It
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DDS
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https://www.nasdaq.com/articles/hibbett-sports-is-crushing-it-2020-09-30
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nan
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nan
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My family portfolio is filled with retailers. We own Carvana (NYSE: CVNA), Farfetch (NYSE: FTCH), Sea Limited (NYSE: SE), and Amazon. Obviously my strong bias is toward internet retailers. In 2020, we're seeing a huge wave of retail businesses trying to shift to the virtual world. This has been happening for decades, but because of the coronavirus pandemic the trend has really accelerated. That's why Shopify is killing it right now. And what about the brick-and-mortar retailing stocks that are making this transition?
Hibbett Sports (NASDAQ: HIBB) is a 75-year-old retailer that sells sports equipment and clothes, mostly Nike's products. Based in the South, the company has over 1,000 stores all across the U.S. Most of the stores are in small towns, in strip malls. The company's market cap is tiny, $620 million. It has slight profit margins and pays no dividend. Why would a high-growth investor bother taking a look at Hibbett Sports?
Image source: Hibbett Sports.
Revenues are spiking dramatically
In the second quarter, Hibbett reported revenue growth of 75% year over year. That number reflects a 60% growth on the brick-and-mortar side, and an outstanding 212% growth in e-commerce. This amazing spike in revenue happened in the middle of a health pandemic and a recession.Â
No doubt you've heard of all the retailers that are suffering right now from the loss of revenues. In my opinion, many of these closed shops won't be coming back. And all that retailing business will shift elsewhere. The survivors, the winners, are going to expand their market share dramatically. If retailing is a disaster zone right now, how exciting is it to find a winning retailer in this environment?
Obviously the shift to e-commerce dramatically helped Hibbett. But even the brick-and-mortar numbers showed outstanding growth. On the conference call, CEO Michael Longo identified the "temporary closures of competitors" as one of the factors in the surge. Yes, that's right, if your competitors are closed for business, of course your numbers are going to spike. Longo said: "Approximately 27% of store traffic and approximately 49% of our online business came from new customers."
Is this just a fluke quarter? Will all those new customers stop going to Hibbett Sports once we get back to normal and our society reopens?
That's highly unrealistic.
In a dog-eat-dog world of retail, Hibbett Sports is a Rottweiler
Many of these stores that are closed for business are not going to reopen. "We're just now beginning to see the benefits of the permanent closure of a number of competitors and similar businesses who also sell apparel and footwear," Longo said on theearnings call "J.C. Penney and Stage Stores have announced the closure of approximately 250 stores within 2 miles of an existing City Gear or Hibbett Sports location."
Nike (NYSE: NKE) is a major supplier to Hibbett Sports. And Nike is ruthlessly eliminating all the retailing losers from its distribution plans. Last month Nike cut ties with Dillard's, Belk, Fred Meyer, Zappos, and five other retailers. In 2017, Nike brand president Trevor Edwards said: "Undifferentiated retail won't survive." Even mighty Amazon is now being excluded from Nike distribution.
For years Nike has made noises about its direct-to-consumer ambitions. Is it possible that one day Nike will cut ties with Hibbett Sports too? That's unlikely. All the retailers who were cut from Nike's distribution were all-purpose retailers. Specialty shops like Hibbett or Foot Locker are perfect Nike distributors. Indeed, cutting out the sports shops might be disastrous for Nike, as it would give advantages to competitors like Adidas.
 At 7%, Nike profit margins are not as high as you might expect. Trying to replicate the 1,000 Hibbett stores, or the 3,000 Foot Locker stores, is probably not in the game plan. Indeed, Nike's revenues lost 1% this quarter year on year. Investors bullish on Nike might want to buy this fast-growing Nike distributor instead.
And the stock is very cheap right now
Hibbett Sports has tripled from the dark days of March. And yet Hibbett is still dirt cheap. Right now the stock is showing up on Joel Greenblatt's Magic Formula screens.
Greenblatt is a value investor who reduces stocks to two criteria: Earnings yield and return on invested capital. Any stock that shows up on his screens is definitely cheap. Most of the stocks are dead cats, value traps, and assorted falling knives. To have a stellar growth company show up on his screen is pretty exciting.Â
Hibbett Sports has a price-to-sales ratio of 0.49, and its forward price-to-earnings is 8.90. The company has almost as much cash ($218 million) as debt ($253 million). And yet another bullish signal (at least to me) is the high short interest. 30% of the stock is sold short. These are people who have borrowed shares of the stock, in order to bet against it. In other words, all the shorts represent future buyers. If Hibbett has more positive earnings surprises, investors might expect the shorts to feel the squeeze.
Right now, Hibbett is seeing fantastic growth, while the stock is showing up on deep value screens. This is a bullish double whammy. My family is buying shares next week.
10 stocks we like better than Hibbett Sports
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Hibbett Sports wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Â
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Foolâs board of directors. Taylor Carmichael owns shares of Amazon, Carvana Co., Farfetch Limited, Sea Limited, and Shopify. The Motley Fool owns shares of and recommends Amazon, Nike, Sea Limited, and Shopify. The Motley Fool recommends Farfetch Limited and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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On the conference call, CEO Michael Longo identified the "temporary closures of competitors" as one of the factors in the surge. "We're just now beginning to see the benefits of the permanent closure of a number of competitors and similar businesses who also sell apparel and footwear," Longo said on theearnings call "J.C. Penney and Stage Stores have announced the closure of approximately 250 stores within 2 miles of an existing City Gear or Hibbett Sports location." To have a stellar growth company show up on his screen is pretty exciting. Hibbett Sports has a price-to-sales ratio of 0.49, and its forward price-to-earnings is 8.90.
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Taylor Carmichael owns shares of Amazon, Carvana Co., Farfetch Limited, Sea Limited, and Shopify. The Motley Fool owns shares of and recommends Amazon, Nike, Sea Limited, and Shopify. The Motley Fool recommends Farfetch Limited and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon.
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Hibbett Sports (NASDAQ: HIBB) is a 75-year-old retailer that sells sports equipment and clothes, mostly Nike's products. "We're just now beginning to see the benefits of the permanent closure of a number of competitors and similar businesses who also sell apparel and footwear," Longo said on theearnings call "J.C. Penney and Stage Stores have announced the closure of approximately 250 stores within 2 miles of an existing City Gear or Hibbett Sports location." 10 stocks we like better than Hibbett Sports When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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And all that retailing business will shift elsewhere. All the retailers who were cut from Nike's distribution were all-purpose retailers. See the 10 stocks
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ec63596c-28b9-49f8-a732-68135e01e9ed
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719527.0
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2020-09-29 00:00:00 UTC
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Why Nike Stock Is Up
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DDS
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https://www.nasdaq.com/articles/why-nike-stock-is-up-2020-09-29
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nan
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nan
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In this episode of MarketFoolery, Chris Hill chats with Motley Fool analyst Emily Flippen about the latest headlines and quarterly reports from Wall Street. They talk about the first-quarter report of Nike (NYSE: NKE). They've got updates from Tesla's Battery Day. They discuss the fourth-quarter results of an online retailer revolutionizing clothing and much more.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
10 stocks we like better than Walmart
When investing geniuses David and Tom Gardner have an investing tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Walmart wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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This video was recorded on September 23, 2020.
Chris Hill: It's Wednesday, September 23rd. Welcome to MarketFoolery. I'm Chris Hill, with me today, the one and only, Emily Flippen. Thanks for being here.
Emily Flippen: Thanks for having me back.
Hill: We're going to get to Battery Day, we're going to start with some earnings, and no better place to start than Nike.
Shares of Nike up 12%, and hitting an all-time high after Nike issued a first quarter report that was highlighted by, what else, amazing digital sales. Although, I should say, their profits did come in much higher than expected too.
Flippen: Yeah, Nike had profits of $0.96/share versus the $0.47 that was expected, so they definitely beat on both the top- and the bottom-lines. And depending on how you read this earnings report, and the story that you're telling, you can paint two very different pictures for Nike here. Skeptics will tell you that their total revenue year-over-year still fell 8% despite the fact that it was up on a quarterly basis. So, this was by no means a blowout quarter in terms of their top line. But if you look at the bigger picture, Nike has been changing their distribution strategy. And so, the fact that sales weren't down more when they cut so many large distribution partners over the past few months is actually pretty astounding.
And what we're seeing the market react to here, in my opinion, is actually the stellar growth of online sales. Online sales grew 82%, more than doubling in certain regions of the world. So, this is really a testament, not only to renewed demand for Nike's products, but it's a good first step in a changing distribution strategy.
Hill: We also saw that show up in their inventory. And the way they're managing their inventory was a little bit of a challenge last quarter, they brought some of that down this quarter. So, nice to see that improvement. It also seems like Nike is optimistic about the holidays; is that fair to say?
Flippen: Definitely fair to say. What's notable about where you saw their sales come in this quarter is that despite the overall contraction compared to the year ago period, sales for footwear, their Footwear division, which is really core Nike, still grew. So, I think they're optimistic about renewed demand, especially heading into the holiday season, but more importantly, especially because they put so much emphasis on their digital sales, which is really going to be what catalyzes people to order. People, [laughs] I think it's a safe assumption, are not going to be traveling as much this holiday season, potentially not going to be giving gifts that they aren't able to order online as much as they were last year. So, the fact that Nike has reinvested so much money into really connecting direct-to-consumers in a manner that establishes more of a relationship between Nike and consumers is potentially going to be good for them in holiday sales.
But what's worth pointing out here is that they did cut a lot of partners. We talked about it previously, but they cut Zappos, they cut Dillard's. So, their foot traffic, the people walking into a store and buying a pair of Nikes, that's probably going to be down for the foreseeable future. They're going to need to prove that they can pull those customers back into their digital sales to make it worth it.
Hill: And this is something they've been investing a lot in over the last few years. So, I mean, this is one of those quarters where you see those investments pay off. But to your point, when you cut off partnerships like that, then you're doing so with the confidence that you're going to be able to make it up on your own.
Flippen: And that wasn't an apolitical decision, in the sense that it seemed like Nike shareholders were split down the middle about whether or not they believed cutting their partners and their distribution wholesalers really was the best move for the company. I tend to be on the side of, I like Nike controlling more of their line, controlling more of their relationship with consumers. I think long-term that can give them some pricing power, but I have no doubt [laughs] in my mind that short-term you're going to see the impact in terms of their topline growth. I think margin profile on the long-term improves as a result. But let's be clear here, cutting out what they deem to be lower-tier wholesalers to focus on specialized partnerships, that was not a move that was universally perceived to be beneficial to the company, it really was a change in strategic direction.
Hill: Shares of Tesla (NASDAQ: TSLA) down 7% this morning in the wake of Battery Day, which also doubled as Tesla's shareholder day. What is your headline? There was a lot of news that came out of what we heard from Tesla and from Elon Musk. I have my observations, but I'm more curious about what your observation was.
Flippen: I think my big headline is probably, "tired." And it encompasses a lot there; and you're kind of laughing, Chris. But I think what we saw this Battery Day was not too dissimilar to what we've seen in previous Battery Days, which is to say, Tesla made a lot of big promises that haven't really been proven out yet. And historically, the investors and the market have like these big ambitions. Tesla is known for going big, right, and they've made a really successful product in a really successful company based on big ambitions.
But the problem with this Battery Day, and the big takeaway I think I have is the fact that the timelines that were given were further off than people may be expected. I think the assumption with a lot of investors is that you take whatever timeline Tesla or Elon Musk give you, and you add a couple of years to it. [laughs] So, the fact that a lot of their big initiatives, I'm thinking in particular about their million-mile battery; although, he didn't use that terminology exactly. Their battery improvements, their cheaper cars, these are all things that they're pushing off until 2022, 2021. And that's further [laughs] than people expected it to be. And then you also take those dates and you add in a level of, OK, well, you really haven't made deadlines in the past, so we're going to add a couple of years to that. Ultimately, it made a lot of really exciting news for Tesla; seems like it's still a few years off at the best.
Hill: Yeah. I mean it seems like [laughs] the sell-off that we're seeing today is some portion of the investing community saying, we don't like the version of Elon Musk that gives what on the service appears to be reasonable timelines. You know, Musk basically saying, yeah, here are the batteries, they are not really going to go into mass production until 2021. The cheaper model of our vehicle, it's going to be a few years before that's widely available. He got a question about their profitability; was just very straightforward saying, yeah, I know our valuation makes it seem like we're printing money, we're not. [laughs] Our profit margin is pretty small. So, I think that's what we're seeing with the sell-off today. Of course, if you step back, this is a stock that is still up north of 350% in 2020.
Flippen: Yeah, whenever we talk about a 7% sell-off in Tesla, it always makes me want to chuckle a little bit, because that's the volatility that you A. get with Tesla, but B. depending on how long you've been a shareholder, you probably didn't even notice the company was down today, because that's how insane of a year that it's been for Tesla.
I think adding on to the level of concern there was, just about the tepidness about Musk and management during this Battery Day, I think there's a strong argument to be made that the company is trying to be more prudent about the goals and the deadlines they send out for investors, especially as their business model proves out. But it was only a couple of years ago, back in 2018, that Elon Musk promised a $25,000 electric vehicle within three years. That wasn't that long ago; clearly that's not happening. So, in my mind it was maybe some tepid guidance that is more realistic than the guidance they've given out previously, or maybe this was [laughs] the aggressive guidance, and maybe we're not looking at a lot of these ambitions until much further in the future.
Hill: Stitch Fix (NASDAQ: SFIX) ended the fiscal year not with a bang, but with a whimper. Stitch Fix's fourth quarter loss was much bigger than expected. Shares are down 16% this morning. I guess, if you're looking for a silver lining, it would be that revenue was up, and that was not the case three months ago.
Flippen: Exactly. So, despite the fact that they lost $0.44/share versus the year ago period, when they gained $0.07/share, so they did switch to a loss there, they still did grow revenue 11%. So, that within itself, hey, you're already [laughs] better than Nike, in the sense that you're growing your topline; not that that's an apples-to-apples comparison. Other good news, active clients grew 9% to 3.5 million, so they're making up some of the clients that they lost over the pandemic period.
I think what the market is reacting to here is not just the swing to a loss, it was expected that they wouldn't make money this quarter, but actually their direct buy. And this is interesting, because Stitch Fix is launching essentially a shopping platform on their box platform, that allows you as a Stitch Fix customer to see curated items and purchase them directly as opposed to getting them in a fix. And that within itself grew 30% after adding in a feature that curated that list closer. On face value, seeing the engagement from customers would seem to be a good thing in Stitch Fix this quarter, but I think in reality, when you compare it to Nike, which grew 82% in their online sales, seeing direct buy only grow 30% when their competitors, their clothing and apparel competitors, seem to be going gangbusters over the past quarter, that's probably where a little bit of the inherent skepticism comes in.
I don't know quite how to feel about this, this quarter. I think ultimately looking forward to Stitch Fix, what they're going to need is to get their costs down before they could figure out how to manage their inventory and manage their business. And I think they're moving in the right direction, as sad as it is to say, they're moving in the right direction of trying to lower their overhead cost of stylists by hiring stylists in lower cost-of-living cities. That, to me, for a company that isn't making money is probably the first step on to figuring out how to right-size this business.
Hill: I think you're absolutely right. And Stitch Fix seems like one of those businesses; they just need to survive, they just need to get through this, because it's easy for me to imagine that -- and it's not just my imagination, it's talking to friends that I have, co-workers, I'm starting to see articles pointing to what I'm about to say which is that people are ready for this pandemic to be over. And when I say, [laughs] they're ready, it's not just we want to get back to some sense of normalcy, it's people are going to be celebrating when this is over. That's going to show up in the form of travel and vacations, we're absolutely going to see it in terms of people treating themselves to, among other things, clothing. So, Stitch Fix seems like a business, to your point, if they right-size the cost, if they can get through the next 12 months --
And by the way, even with the drop today, the stock is still up 35% year-to-date, so this is not a business that I look at as being in tremendous peril. But if they can just put their heads down and get through the next 12 months, and with any luck, 12 months from now we are much closer to normal, I think that sets them up to arguably a more profitable business model.
Flippen: That can be the case. I think where I grow hesitant as an investor is looking at the tens of millions of Americans that are unemployed right now, and Stitch Fix, to the extent that this pandemic continues, and that our economy is impacted, Stitch Fix is a business while only going after about 3.5 million customers right now, it's still a luxury. And it's a business that, when time gets tough and people need to cut corners, Stitch Fix is an easy thing to cut out of your life. So, I think, obviously, for the people that are still paying for the services, hopefully they haven't been impacted by the pandemic as much, but in terms of growing that active customer count, this is a really challenging environment to do it within.
Regardless, I think there's a market for Stitch Fix. The question for me has always just been, how big of a market is that truly? We don't know yet. There is a belief that Stitch Fix will revolutionize clothing, and I'm not sure that's going to be the case. But I also don't think that this is a product that goes away entirely; it has sticky customers, it has customers that make repeat purchases, that engage with their direct buy. So, there are clearly people who love it, there are clearly people who hate it. [laughs] The ideal, kind of, addressable market is somewhere in the middle. The question mark for me as an investor, and if you're an investor in Stitch Fix, where your question mark should probably be is, how big of a market does Stitch Fix truly serve?
Hill: Emily Flippen, always great talking to you, thanks for being here.
Flippen: Thanks for having me.
Hill: As always, people on the program may have interests in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear.
That's going to do it for this edition of MarketFoolery. The show is mixed by Dan Boyd, I'm Chris Hill, thanks for listening, we'll see you tomorrow.
Chris Hill has no position in any of the stocks mentioned. Emily Flippen has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nike, Stitch Fix, and Tesla. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In this episode of MarketFoolery, Chris Hill chats with Motley Fool analyst Emily Flippen about the latest headlines and quarterly reports from Wall Street. Flippen: And that wasn't an apolitical decision, in the sense that it seemed like Nike shareholders were split down the middle about whether or not they believed cutting their partners and their distribution wholesalers really was the best move for the company. But let's be clear here, cutting out what they deem to be lower-tier wholesalers to focus on specialized partnerships, that was not a move that was universally perceived to be beneficial to the company, it really was a change in strategic direction.
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In this episode of MarketFoolery, Chris Hill chats with Motley Fool analyst Emily Flippen about the latest headlines and quarterly reports from Wall Street. On face value, seeing the engagement from customers would seem to be a good thing in Stitch Fix this quarter, but I think in reality, when you compare it to Nike, which grew 82% in their online sales, seeing direct buy only grow 30% when their competitors, their clothing and apparel competitors, seem to be going gangbusters over the past quarter, that's probably where a little bit of the inherent skepticism comes in. The Motley Fool owns shares of and recommends Nike, Stitch Fix, and Tesla.
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Flippen: Yeah, whenever we talk about a 7% sell-off in Tesla, it always makes me want to chuckle a little bit, because that's the volatility that you A. get with Tesla, but B. depending on how long you've been a shareholder, you probably didn't even notice the company was down today, because that's how insane of a year that it's been for Tesla. On face value, seeing the engagement from customers would seem to be a good thing in Stitch Fix this quarter, but I think in reality, when you compare it to Nike, which grew 82% in their online sales, seeing direct buy only grow 30% when their competitors, their clothing and apparel competitors, seem to be going gangbusters over the past quarter, that's probably where a little bit of the inherent skepticism comes in. Hill: As always, people on the program may have interests in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear.
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In this episode of MarketFoolery, Chris Hill chats with Motley Fool analyst Emily Flippen about the latest headlines and quarterly reports from Wall Street. Hill: And this is something they've been investing a lot in over the last few years. And that's further [laughs] than people expected it to be.
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b1dc1f31-ad4a-4142-a5e8-31cecd420b3f
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719528.0
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2020-09-28 00:00:00 UTC
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Dillard's, Inc. (DDS) Ex-Dividend Date Scheduled for September 29, 2020
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DDS
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https://www.nasdaq.com/articles/dillards-inc.-dds-ex-dividend-date-scheduled-for-september-29-2020-2020-09-28
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nan
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nan
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Dillard's, Inc. (DDS) will begin trading ex-dividend on September 29, 2020. A cash dividend payment of $0.15 per share is scheduled to be paid on November 02, 2020. Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 5th quarter that DDS has paid the same dividend. At the current stock price of $30.62, the dividend yield is 1.96%.
The previous trading day's last sale of DDS was $30.62, representing a -63.75% decrease from the 52 week high of $84.47 and a 42.41% increase over the 52 week low of $21.50.
DDS is a part of the Consumer Services sector, which includes companies such as Walmart Inc. (WMT) and Costco Wholesale Corporation (COST). DDS's current earnings per share, an indicator of a company's profitability, is -$4.34. Zacks Investment Research reports DDS's forecasted earnings growth in 2021 as -259.04%, compared to an industry average of -75%.
For more information on the declaration, record and payment dates, visit the DDS Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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DDS is a part of the Consumer Services sector, which includes companies such as Walmart Inc. (WMT) and Costco Wholesale Corporation (COST). Zacks Investment Research reports DDS's forecasted earnings growth in 2021 as -259.04%, compared to an industry average of -75%. For more information on the declaration, record and payment dates, visit the DDS Dividend History page.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. DDS's current earnings per share, an indicator of a company's profitability, is -$4.34. Dillard's, Inc. (DDS) will begin trading ex-dividend on September 29, 2020.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 5th quarter that DDS has paid the same dividend. For more information on the declaration, record and payment dates, visit the DDS Dividend History page.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. Dillard's, Inc. (DDS) will begin trading ex-dividend on September 29, 2020. This marks the 5th quarter that DDS has paid the same dividend.
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0501da34-3b0e-4cee-ab2e-8a725bcc543b
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719529.0
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2020-09-27 00:00:00 UTC
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Dillard's Stock Could Soar on Buybacks and a Short Squeeze
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DDS
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https://www.nasdaq.com/articles/dillards-stock-could-soar-on-buybacks-and-a-short-squeeze-2020-09-27
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nan
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nan
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Shares of Dillard's (NYSE: DDS) plunged earlier this year along with other department store stocks as the COVID-19 pandemic disrupted apparel demand, eviscerated store traffic, and eventually forced most non-essential retailers to close their stores temporarily.
Dillard's first-quarter performance was predictably awful. The company swung to a $162 million loss after posting a $79 million profit a year earlier. However, the department store chain bounced back in a big way last quarter, improving its earnings compared to the second quarter of fiscal 2019. Despite that impressive result, Dillard's stock still sits near the $30 mark: down almost 60% year to date.
Dillard's Stock Performance, data by YCharts.
Investors' skepticism about the company's prospects might set the stage for a future rally, though. The ultra-low share price may enable Dillard's to buy back a lot of stock. That in turn could help trigger a short squeeze, sending Dillard's stock flying higher.
Inventory management gets Dillard's back on track
While Dillard's posted an ugly loss in the first quarter, it managed to reduce its inventory in the back half of the quarter by canceling orders and proactively implementing aggressive markdowns. By the end of the quarter, inventory was 14% lower than it had been a year earlier.
This inventory discipline and a modest return of retail traffic beginning in May enabled Dillard's to expand its retail gross margin by 2.4 percentage points year over year last quarter, even though retail sales plunged by 35%. It also managed to cut its operating expenses by 35%. Dillard's still reported a quarterly net loss of approximately $9 million, but that was considerably better than its $41 million net loss in the prior-year period.
Sales trends should improve somewhat in the second half of fiscal 2020. On average, analysts expect sales to fall 16% this quarter and 10% in Q4. Given that Dillard's exited Q2 with inventory down 20% year over year, the company is well positioned to continue increasing gross margin on a year-over-year basis, supporting its near-term earnings power.
Image source: Author.
Share buybacks continue
For the past 10 years, management has aggressively repurchased Dillard's stock with excess cash. The company's share count has declined by nearly two-thirds during that period.
After buying back 1 million shares for $62 million in the first two months of the first fiscal quarter, Dillard's stopped repurchasing stock for several months. However -- perhaps heartened by improving sales and margin trends -- it snapped up nearly 587,000 shares in July, at an average price of just $24.31. The company continued its buyback activity in August, repurchasing nearly 300,000 shares of Dillard's stock in the first four weeks of the third quarter.
As of late August, Dillard's only had 22.4 million shares outstanding, so the July and August buybacks alone shrank the company's share count by nearly 4%. Moreover, Dillard's ended Q2 with $192.6 million of remaining authorization on its share buyback program and $447 million of borrowing availability on its amended credit facility. Dillard's also tends to generate all of its free cash flow in the second half of the year and could easily achieve $200 million of free cash flow over the next two quarters.
Thus, Dillard's has ample capacity to buy back stock in the months ahead. Management -- which mainly consists of members of the founding Dillard family -- has leaned heavily on buybacks to support the value of Dillard's stock over the years. With the shares trading at a depressed valuation and Dillard's current assets and real estate likely worth significantly more than the company's enterprise value, there's no reason it would stop now.
A short squeeze could be coming
As of Sept. 15, bearish investors had shorted nearly 6.8 million shares of Dillard's stock: about 30% of the company's outstanding shares. However, the other 70% of the shares are held by an employee investment plan and members of the founding family. Thus, there are very few shares in circulation relative to the number sold short, creating ripe conditions for a short squeeze.
Positive news regarding Dillard's performance -- or perhaps progress toward a coronavirus vaccine -- could spark a big rally. Short-sellers trying to close their positions would be forced to bid against one another to buy relatively scarce shares of Dillard's stock. The more shares the company repurchases in the months ahead, the scarcer the stock will be.
Of course, there's no guarantee of a short squeeze. If Dillard's financial results take a turn for the worse in the quarters ahead, short-sellers could profit from a tumbling stock price. Still, between the already-low share price, Dillard's improving profitability, and management's aggressive buyback activity, bears may be walking into a trap by betting against Dillard's stock.
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Adam Levine-Weinberg owns shares of Dillard's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Dillard's (NYSE: DDS) plunged earlier this year along with other department store stocks as the COVID-19 pandemic disrupted apparel demand, eviscerated store traffic, and eventually forced most non-essential retailers to close their stores temporarily. Share buybacks continue For the past 10 years, management has aggressively repurchased Dillard's stock with excess cash. With the shares trading at a depressed valuation and Dillard's current assets and real estate likely worth significantly more than the company's enterprise value, there's no reason it would stop now.
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Shares of Dillard's (NYSE: DDS) plunged earlier this year along with other department store stocks as the COVID-19 pandemic disrupted apparel demand, eviscerated store traffic, and eventually forced most non-essential retailers to close their stores temporarily. This inventory discipline and a modest return of retail traffic beginning in May enabled Dillard's to expand its retail gross margin by 2.4 percentage points year over year last quarter, even though retail sales plunged by 35%. As of late August, Dillard's only had 22.4 million shares outstanding, so the July and August buybacks alone shrank the company's share count by nearly 4%.
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Shares of Dillard's (NYSE: DDS) plunged earlier this year along with other department store stocks as the COVID-19 pandemic disrupted apparel demand, eviscerated store traffic, and eventually forced most non-essential retailers to close their stores temporarily. After buying back 1 million shares for $62 million in the first two months of the first fiscal quarter, Dillard's stopped repurchasing stock for several months. A short squeeze could be coming As of Sept. 15, bearish investors had shorted nearly 6.8 million shares of Dillard's stock: about 30% of the company's outstanding shares.
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Shares of Dillard's (NYSE: DDS) plunged earlier this year along with other department store stocks as the COVID-19 pandemic disrupted apparel demand, eviscerated store traffic, and eventually forced most non-essential retailers to close their stores temporarily. After buying back 1 million shares for $62 million in the first two months of the first fiscal quarter, Dillard's stopped repurchasing stock for several months. A short squeeze could be coming As of Sept. 15, bearish investors had shorted nearly 6.8 million shares of Dillard's stock: about 30% of the company's outstanding shares.
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2020-08-27 00:00:00 UTC
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3 Disappointments in Nordstrom's Q2 Numbers
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https://www.nasdaq.com/articles/3-disappointments-in-nordstroms-q2-numbers-2020-08-27
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Investors knew last quarter would be a tough one for most retailers. It was the first quarter fully affected by coronavirus lockdowns, and even where non-essential shopping is allowed again, consumers aren't exactly mobbing those stores.
Department store chain Nordstrom (NYSE: JWN), however, reported surprisingly disappointing second-quarter results even after factoring in the fallout from the COVID-19 contagion. The three most alarming red flags are the sheer scope of its sales decline, comparatively high spending, and still-high inventory levels. The company explained in its conference call that there was a reason it was holding all that merchandise, but it's a risky bet.
Image source: Getty Images.
1. Compared to peers, sales fell a LOT
For the quarter ending on Aug. 1, Nordstrom's top line tumbled to the tune of 55% year over year. Blame the coronavirus response, of course. The quarterly filing also stated that stores were closed about 50% of that time, and its all-important Anniversary Sale was pushed back from that quarter to the quarter currently underway.
Still, the numbers aren't even close to the sorts of sales drops other department stores suffered during the same quarter. Kohl's (NYSE: KSS) revenue only slipped 23% for the same three-month stretch. Dillard's (NYSE: DDS) top line fell 33%. Nordstrom CEO Erik Nordstrom commented during the Q2 earnings call that the rescheduled sale resulted in only "a timing shift of approximately 10 percentage points." That still leaves several hundred million dollars' worth of revenue deterioration unaccounted for when comparing Nordstrom's numbers to competitors.
2. Expenses remain relatively high
Nordstrom did curb its operating expenses, for the record, but not as much as one might expect. Selling, general, and administrative spending fell 30% from around $1.2 billion to $826 million, falling short of the 55% dip in total revenue.
It's not the end of the world, so to speak. Scaling spending back completely in line with sales could leave the company poorly positioned for a post-coronavirus rebound. But the company's total cost of sales (the cost of merchandise and directly related expenses) only fell about 43% year over year. End result? Gross margins slipped from 35% to 25%. For comparison, Dillard's gross margins last quarter rolled in at 30%, up from the year-earlier comp of 28%. Kohl's gross margins fell from 39% to 33% for the three-month period ending on Aug. 1. It's a not-entirely subtle clue that markdowns and discounting of Nordstrom's inventory are happening in earnest.
On that note...
3. Inventory levels remain high
Despite those markdowns and the impressive way Nordstrom reduced merchandise receipts immediately after the pandemic took hold, inventory levels remain relatively high. It's got $1.46 billion worth of goods for sale right now, down 23% from year-ago levels, but essentially in line with the $1.49 billion worth of inventory on hand as of the beginning of May. Kohl's culled its inventory levels by 26% year over year, but its $2.7 billion worth of merchandise on hand now is also about 24% less than the $3.6 billion in goods it had on hand as of the beginning of May. Dillard's cut its merchandise levels by a little over 18% during the recently ended quarter.
There may be a method to the madness, so to speak. Erik Nordstrom noted during the conference call: "We increased receipts in July as we geared up for our Anniversary Sale that began on August 4." Nordstrom added that sales trends for the event that ends later this month were sequentially improving, as the company expected.
It was still a big risk, though. Between a reaccelerated spread of the coronavirus, economic uncertainty, social unrest, and lots of political tensions, there's plenty of reason for consumers to skip the shopping excursion this time around. If it's the typical summertime and back-to-school mix of merchandise and it doesn't sell now, it's going to be tough to sell -- even with markdowns -- as we move toward fall fashions.
Things to watch
Don't read too much into the message. Nordstrom still does plenty of other things better than most, like creating a true shopping experience and positioning itself as a lifestyle company. As I explained a quarter ago, Nordstrom has an impressive degree of inventory flexibility.
What it may or may not have right now, however, is a willingness to use it. The company's made a huge bet on this month's Anniversary Sale by procuring plenty of merchandise to sell. If there was ever a time to steer clear of big bets, though, this is it. Most retailers remain subject to tricky environmental factors entirely out of their control -- namely, COVID-19. The second quarter's exaggerated sales decline arguably should have prompted the company to tighten the purse strings and play a little more defense.
We'll see if it was the right call three months from now. In the meantime, investors may want to think about why Nordstrom isn't doing what Kohl's and Dillard's are.
10 stocks we like better than Nordstrom
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*Stock Advisor returns as of August 1, 2020
James Brumley has no position in any of the stocks mentioned. The Motley Fool recommends Nordstrom. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's (NYSE: DDS) top line fell 33%. Department store chain Nordstrom (NYSE: JWN), however, reported surprisingly disappointing second-quarter results even after factoring in the fallout from the COVID-19 contagion. The three most alarming red flags are the sheer scope of its sales decline, comparatively high spending, and still-high inventory levels.
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Dillard's (NYSE: DDS) top line fell 33%. The three most alarming red flags are the sheer scope of its sales decline, comparatively high spending, and still-high inventory levels. Compared to peers, sales fell a LOT For the quarter ending on Aug. 1, Nordstrom's top line tumbled to the tune of 55% year over year.
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Dillard's (NYSE: DDS) top line fell 33%. Compared to peers, sales fell a LOT For the quarter ending on Aug. 1, Nordstrom's top line tumbled to the tune of 55% year over year. Nordstrom CEO Erik Nordstrom commented during the Q2 earnings call that the rescheduled sale resulted in only "a timing shift of approximately 10 percentage points."
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Dillard's (NYSE: DDS) top line fell 33%. Inventory levels remain high Despite those markdowns and the impressive way Nordstrom reduced merchandise receipts immediately after the pandemic took hold, inventory levels remain relatively high. The company's made a huge bet on this month's Anniversary Sale by procuring plenty of merchandise to sell.
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2020-08-20 00:00:00 UTC
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How These 3 Stocks Beat Wall Street Expectations
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https://www.nasdaq.com/articles/how-these-3-stocks-beat-wall-street-expectations-2020-08-20
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In this episode of Industry Focus: Consumer Goods, Emily Flippen and The Motley Fool contributor Dan Kline discuss the latest earning reports from some big retailers in the consumer goods space. They talk about how these companies are spending money on mitigating the effects of COVID-19 and improving their customers' omnichannel experience. They also provide a breakdown of retailers' financial and sales numbers and take a look at some new partnerships, subscription services in the space, and much more.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
10 stocks we like better than Walmart
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This video was recorded on Aug. 18, 2020.
Emily Flippen: Welcome to Industry Focus. It's Tuesday, Aug. 18th, and I'm your host Emily Flippen. Today, I am joined by Motley Fool contributor Dan Kline, and we're going to discuss some big consumer goods earnings, that's Walmart (NYSE: WMT), Home Depot (NYSE: HD), and Kohl's (NYSE: KSS). Dan, thanks for joining.
Dan Kline: Thanks for having me, and glad we get to talk about something a little bit happy. How many bankruptcy shows [laughs] have we done? I think I was actually mapping out another bankruptcy show, you know, when we saw, oh, my God! There's earnings this week, and it's companies that are going to do well. I am not so sure in the case of two of these three companies that I knew they would do this well.
Flippen: Yeah, it's rare that we have the opportunity here, for our consumer goods-focused show, to talk about something really positive. So, I'm excited [laughs] that today, we'll at least put a positive spin on the news we have coming out. Although, it's really hard to paint any of this news in a negative light, I think Kohl's probably warrants a discussion, but let's start out with, probably, the one that we knew was going to be great, the most obvious one, and that's Home Depot.
And the reason why I say it's obvious is because, earlier this week, The Wall Street Journal released an article highlighting what a boon the pandemic has been to Home Depot's traffic. They have data from Unacast that suggested traffic to Home Depot stores since April has consistently run at least 35% above last year's. So it's natural to assume that that would lend itself to a pretty strong quarter. Is that we saw, Dan?
Kline: Yeah, there's not a lot of window-shopping during a pandemic. If there's foot traffic, it results in sales. Let me go through some of the numbers. They had sales of $38.1 billion for the second quarter; that is a 23.4% increase, that's astounding. Comp sales in the U.S. were up 25%; that's even better. Net earnings were $4.3 billion, or $4.02 per diluted share; that's up from $3.5 billion, or $3.17 per diluted share.
Why is the increase important? The increase is important because they're spending a ton of money on mitigating COVID-19, on taking care of employees, on extra cleaning. In the quarter, they spent $480 million in additional benefits for associates, including weekly bonuses for hourly associates; that's workers, employees in stores and distribution centers. Year to date the company has spent approximately $1.3 billion on enhanced pay and benefits in response to COVID-19. Emily, this is stunning; like, these are good numbers. They also said that they've paid a record amount of money in their profit-sharing program, and their digital sales increased 100%, and about 60% of those times they offered to pick up the orders in the store.
Emily, are that many people planting gardens and painting walls? Like, these numbers are through-the-roof astounding.
Flippen: Normally, I would say, well, it has to be all the pro sales here, right? But the reality is, and management said this on their call, is that it is truly what they call DIY sales. These are your local person, who to your point, is just fixing a wall, building a garden, doing some home improvement that they've otherwise put off that this pandemic has allowed them to do. So, this is very much organic growth in the sense that this is fueled by your layman visiting Home Depot; again, going back to that foot traffic.
But you mentioned sales in their digital platforms were up 100%. Home Depot has been one of the businesses that has been really resilient against the expansion of online sales, i.e., Amazon hasn't disrupted Home Depot's business. I wonder if Home Depot is just disrupting itself at this point? They're improving -- I steal the term from you, really -- their omnichannel experience here, encouraging people to do things like order online then pick up in stores if they can't get it for delivery. And this is really innovative stuff.
Kline: Yeah. And I'm also going to point out, Emily, that 60% pickup number meant that a lot of people use the convenience of the app as a way to minimize their time in the store; that's very smart during a pandemic, but here's why that's important and theoretically something that builds for Home Depot. Once they have your info, they can market to you, they know, hey, Emily just bought paint for her living room, maybe we should start marketing her appliances because she already painted her living room, maybe she needs exterior paint, whatever it is, they can offer you coupons, they can find ways to bring you into the store. You're in there, hey, we can reach out to you for basically free system.
And you know that you can order on their website. Once you've put your credit card in somewhere, that means you're likely to become a customer there more often. So, that transformation is more important and more sustainable than a bunch of people being stuck at home and saying, now we're going to plant a garden, now we're going to paint the bedroom, because we're not always going to be stuck at home. And at some point, we're going to be done with home improvements. Yeah, I've spent a reasonable amount of money during the pandemic doing home improvements on our vacation place. There was stuff I wanted to get done, it was always occupied, it was difficult to get done. We actually bought most of what we bought from Lowe's, but it is good for these companies. These are going to be really difficult comps next year, but on the profitability side, if they don't have all these added expenses, I'm going to guess they don't hit these numbers next year, but that they're higher than they were a year ago and they're more profitable. So, this is a really good business case for the Home Depot.
And as you mentioned pro sales, construction will come back. And there is a lot of home construction going on right now, some of which would be done by the smaller-time contractors that Home Depot goes after. A lot of it; I'm not sure, like, Pulte Brothers is pulling up to Home Depot and buying stuff, they're probably buying direct from many of their suppliers.
Flippen: Yeah, I'm happy you pointed out the comp sales, because as great as this quarter is, I agree with you that probably this time next year it's going to be really challenging for them to beat the numbers that -- you know, ideally they will be recording their quarter next year to the quarter that exists this year. So, when we talk about comp sales, that's really what it means, with how great this past quarter has been, it will be hard to beat that next year.
But what I think is really interesting is that there's been a lot of news in Home Depot around their performance, but the costs associated with COVID, it has hit their bottom line. And a lot of that has been employee-based compensation, whether that's bonuses, time off, stock compensation. But they have spinout money to really invest into this omnichannel experience. So, part of the things that they did this quarter was actually changing the scale and flexibility of their supply chain network. They changed what was essentially a Market Delivery Center, what they call an MDC, to a Direct Fulfillment Center, a DFC, I suppose. Which really just focused on delivering to their online orders. That's a one-time expense, right? I mean, ultimately, they're just trying to meet the demand that they're seeing online, but if that demand stays, if people who are becoming accustomed for purchasing online do that in the future, then they won't need to reconvert that center, that conversion has already taken place. So, it's entirely possible that a lot of these expenses that we're seeing for COVID are not a new normal expense for Home Depot, but rather a one-time expense to accelerate a transition that is already happening.
Kline: Yeah. And some of these purchases -- so let's say, Emily, you decide you're going to paint your living room over the weekend. Do you really want to drive to Home Depot to pick up paint brushes and paint, or would it be easier to just place that order and have it delivered, or easier to place the order and go pick it up curbside, even if there isn't a pandemic? Because Home Depot is a gigantic store, it's not easy to find things. Having them package your order for you is a benefit. So, will there be some pushback? Yeah, after the pandemic some people that were buying things online, if you're a do-it-yourself person, going to Home Depot for you is like going to a bookstore for me, I understand that you want to browse, you want to get ideas. That part of the business will move back, but this is pulling forward a lot of digital demand. And it forced them to adjust their supply chain on the fly. We saw a lot of big players, including the next company we're going to talk about, Walmart, do that. And it wasn't easy. There were bumps. We saw even Amazon had some supply issues in the early days of this, but once you, sort of, build up that muscle, you have a lot of ability to be flexible, and Home Depot had to do it and they came through it with flying colors.
Flippen: And that's a good place to leave it off, but I'm not going to. [laughs] I'm going to ask you one more question here. Sorry, not to completely hammer this point home, but as we're talking, I'm seeing some comments coming and talking about how Home Depot is, really, an Amazon-proof company. I think I agree with that, but it has me thinking here, would you call Home Depot a recession-proof company too?
I'll tell you what, my first instinct is, of course not. We see people spending money on their homes, discretionary income, all of these things fall when the economy does poorly, when the amount of money people make falls, so does, theoretically, Home Depot sales. But despite unemployment being at all-time highs, Home Depot sales are at all-time highs. It, kind of, doesn't make sense to me.
Kline: I don't know how sustainable it is. And some of it was based on people still getting the enhanced unemployment and basically being stuck at home with nothing to do. And, look, painting your living room costs money, but it's not that expensive and it brings value, it might also bring you joy to be in a nicer painted room. And that's important right now. I do also think some of this is gardening, some of this is people who are worried about the food supply which was early in the pandemic something that got written about, I think, a little bit overplayed. When you go to the grocery store and they only have 60% of the meat choice, but they still have four different types of ground beef, that's not really, you know, like, being out of, like, pork shoulder for a week was not as big a problem.
But that said, some people said, you know what, I'm bored, I'm going to try my hand at gardening, maybe this will give me some hedge against it. And, oh, hey, I like gardening and now I want better supplies, I want more stuff. I think that was a part of this.
There was also a run on appliance sales, if your refrigerator/freezer breaks, you have to get a new one, a pandemic or no pandemic, broke or not broke, you have to find a way to do that. I ordered a new refrigerator/freezer from Lowe's during the pandemic, it still hasn't arrived, so I have no idea if I've purchased one. I've given them the money, but good luck getting through to customer service, as we've talked about on previous episodes.
But that said, there are a lot of parts of this business that are recession-proof. If things are going badly, you may have to sell your home. If you sell your home, you're going to repair minor things, you're going to do paint touch-ups. It's not fully depression-proof, but it definitely has some protection.
Flippen: And we're going to move on here to Walmart, but I like that you highlighted the gardening, because while this is not a company we're going to dive into today, if anyone follows this company, Scotts Miracle-Gro, had a crazy quarter last quarter, declaring a special dividend. All because, while their Hawthorne division did well, it was mostly because people were just gardening more; typically, what is normally a really slow-growing business, grows at the rate of about GDP, which is having a historically [laughs] insane quarter, as people stuck at home decided, hey, maybe I should plant something. So, I'm not surprised to see that showing up here in Home Depot, either.
Kline: People are planning things; people are baking bread. But as we talk about Walmart, you asked, is Home Depot recession-proof? I am going to argue that Walmart is, because you have to eat, you have to wear something. The rules of society [laughs] say, clothes --
Flippen: Well, I agree with the former, the latter is debatable. [laughs]
Kline: OK. The rules here on Motley Fool Live are, you have to wear something. The rules out in public are generally, you have to wear something. Though, I do live in West Palm Beach, Florida, it's not a strict requirement [laughs] if you -- the Starbucks I often sit at will have people on their way to the beach that are not wearing that much, but in general, Walmart is a recession-proof company.
I'm going to go through some of the numbers. Total revenue came in at $137.7 billion, that's up $7.4 billion or 5.6%. Consolidated operating income was $6.1 billion, up 8.5%. Adjusted operating income in constant currency increased 18.6%, led by strength across all operating segments, including significantly lower losses in Walmart U.S. e-commerce. I would not have predicted that they were still losing money in e-commerce, but that is likely supply chain expenses. U.S. comp sales were up 9.3%, led by strength in general, merchandise and food. People were also doing more outside, spending on computers and TVs; that makes sense, we're watching a lot of TV, our kids are stuck on the computers for school, and cooking more at home. Earnings came in at $1.56 per share; that's $0.31 higher than expected.
And, Emily, this one is amazing. U.S. e-commerce sales grew 97%, with strong results across all channels. Wow! Your thoughts?
Flippen: Well, the first thought that comes to mind is Shopify. When I heard about that e-commerce channel, they added Shopify as an e-commerce partner. This is something that Walmart has been investing heavily into. And I'm not surprised to see their quarter be a strong quarter, right, for the general merchandise, for their food; this is expected. And we can honestly have the same conversation we just had about Home Depot about Walmart. Replace a few words and it would be the same story. But what I really want to take away here is, for me at least, Walmart+, and that's not the official name of whatever this ends up being. But essentially, it's the Walmart Amazon Prime, you know, it's a subscription. And they said that they started testing it, in theearnings call at the end of last year. And they really just use it for grocery and consumable delivery. So, really building off of that e-commerce presence.
But the management, you know, they didn't provide a ton of color, did provide a little bit more color, essentially, they said, we've proven this, we think this is going to be successful for us. Our breadth, our availability, our scale makes us, in our eyes, competitive for a premium subscription offering. While we're not quite ready to launch and we'll give more information at launch, we're going to tell you that we are, in fact, moving forward with this. Which backs up a lot of the articles that we saw coming out over the past month or so.
So, building on what was a really strong quarter for Walmart, do you think this is a good use of money, do you think a premium Walmart subscription will succeed?
Kline: So, let me assume that's going to be based around grocery delivery or same-day delivery, in general. And I do think there has been a tidal switch; not that we're going to stop going to grocery stores, because I've enjoyed being able to go pick my own items and get back into a Whole Foods, get back into a Publix, decide what I'm going to make for dinner on a day-by-day basis, not that I do that every day. But that said, I've always been an Instacart customer, and when I'm busy I place an order, or if I'm sitting at home and I don't have time to get lunch, I might place a Whole Foods order, so I could tack on some sushi or whatever it is I want for lunch. They often screw that up and you get not exactly what you want, which can be a problem, but that said, I do think more people have adopted that. And Walmart has the potential to be a player. So, if they're going to charge $49.99, and I get same-day, two-hour grocery delivery service and that's less than half the price of Instacart, there is value there.
Target (NYSE: TGT) also does this as well, and can compete, and they offer it for less money, though, I don't know if there's a Shipt subscription or you always pay per time. But that said, this is a crowded space, I actually think Walmart would be better off staying with the $4.99 per order or $2.99 per order. I'm not against them offering this, I just don't think it's a game changer, I think it's a person who realizes, hey, I order from Walmart twice a week, why don't I just pay for this, because it'll be cheaper. I think that ship has sailed. When they got rid of this, the same offer when they bought Jet.com and said we're going to do two-day shipping for free, as long as you spend $35. That was the move. Going back to some sort of premium service, even if it's, look, we'll deliver you anything in a Walmart same day, I think that's a niche, I think it's a nice little product offering, but it's not a big change, it's not a game changer for me.
Flippen: Maybe I just haven't been around the block long enough, because I really wasn't actively following Walmart when they did make that acquisition, that expensive acquisition, for Jet. So, I'm new, right; I'm coming in with a fresh face, which could really leave me in position to get burned by this statement, but I'm making it anyway. [laughs] I think this succeeds and I'm going to -- I finally found the quote I was looking for earlier, here's a quote from management that they said about this launch during theirearnings calltoday. They said, "we think that it's not just about food and consumables, we think the assortment breadth and our ability to deliver with speed nationally, combined with a few other benefits, (emphasis added) will result in a compelling proposition."
In my mind, I kind of agree with you, if they just end up going with some sort of grocery delivery, what really is the value there? But when I see Walmart investing into healthcare, investing into their e-commerce channel with third parties, I think to myself, maybe there is value that they can provide that Amazon can't, that would make me a paying Amazon Prime subscriber. And I am very frugal, [laughs] I do not spend money easily, right? Maybe there will be something they can provide that will make me want to switch my Amazon Prime membership to Walmart. Now, that's a big statement, I don't know what that looks like yet, but I'm not ready to write it off entirely.
Kline: So, if there's a healthcare component to this, that could be a game changer, I think mostly what they are focusing on is, this won't just be grocery delivery, it will be full-store delivery. And, hey, that's great. If I don't feel well, I have a touch of the flu and I need some tissues, some chicken soup, you know, some NyQuil, whatever it is, and I could put together a little order and it shows up in 90 minutes, that's fabulous. It's also a really small niche, because you know what people like doing, they like going to stores. And there are times, not now, but there are times when it's inconvenient to go to a store and it's great to have a service like this.
Look, I needed some cables earlier today and I just bought them from Amazon because they'll be there tomorrow. Could I have driven over to Best Buy? I could've, but I'm doing a lot of shows today and it's difficult to have the time to do that. And do I want to take my time at night to do something, where if I wait, like, 16 hours, it will be there? So, might I have placed an order from Walmart if they had those items and they would deliver me in two hours? I might have. Amazon will answer, whatever they're doing, and my guess is, they'll take it a step further. Because the one thing you could say with Amazon is your Prime membership gets you hundreds of millions of items delivered on a one- or two-day basis, while for Walmart, it's only a few million items. Now, they increased that to the full depth and breadth of the local store. Good luck with that, because their ability to handle the 2 million or 3 million items and do it efficiently; look, I've detailed by problems with, hey, order this, pick it up in the store, we'll send you an email when it comes in, and it's like six days later and it was supposed to be that day. They have not quite figured this out. I'm very confident in Marc Lore, he was the Jet.com founder, he runs their e-commerce operations. They'll get there, but I think it's going to take a while and I think it's going to give Amazon plenty of time to make sure they adjust their offering along with it.
Flippen: Yeah, that's fair enough. And if history is telling, you don't want to be [laughs] going up against Amazon, right? With the money and the expanse that Amazon has, they are truly a formidable competitor, but we'll see what happens. Not ready to switch my subscription just yet. [laughs]
Kline: Walmart has shown they can compete, and that's really important. You know, you weren't talking about Walmart in grocery six months ago, and now we're talking about how maybe Kroger can't compete with Walmart; that is a systemic game change.
Flippen: That's a very, very good point. We're all not Berkshire Hathaway upping our stake in Kroger right now. [laughs]
So, let's talk about our last real story for this episode, and that's Kohl's earnings. I'm not sure if it's best we saved it for last, because maybe this is a harder story to make positive, but it was nice while it lasted, right? We saw earnings from Kohl's come out today. And I'm not ready to write it off as a [laughs] terrible quarter, but it definitely wasn't Home Depot, and it definitely wasn't Walmart.
Kline: Yeah, I'm going to say this is a decent quarter. So, second-quarter net sales dropped 22.9%, that's not great, but, Emily, heading into this, did you expect it to be any better?
Flippen: My, maybe ignorant, thought process was, well, if lots of people are making orders on Amazon, and Kohl's has this agreement with Amazon to accept returns, in places where they were accepting returns, maybe there is an increase in foot traffic and maybe they wouldn't be as badly hit.
Kline: So, I think there was an increase in foot traffic, though I did not listen to theearnings call so I'm sure they commented on that. But that said, prices at Kohl's right now are fairly depressed. When you go into any clothing store, there are a lot of sales. Their goal is to clean out merchandise for there to be better days. So, there are a lot of bargains to be had. I wear the same black polo shirt every day; and we've had this discussion before. But I usually wore a Kohl's brand or a J.C. Penney brand. And I was able to buy IZOD for the same price I was buying, and it's a much-higher quality, and it is a much-higher price point normally.
So, I think Kohl's, you might find -- and we don't have this number in the earnings report -- that their transaction count was really good, but their overall sales number wasn't great because they are selling a lot of things at a discount. But here's the number that people got excited about, they lost $0.25 per share, that's smaller than the $0.83 a share that Wall Street analysts had anticipated. Revenue was also above estimates. They did not report comp sales due to the rolling nature of store closures and what's open, what's not open. They also made a point of saying that they have strengthened their financial position during the quarter, ending with $2.4 billion in cash. Emily, it's a qualified positive. You know, when something is this disastrous, if they had come out and said, our sales were down 75%, would you have been absolutely stunned? I wouldn't have been.
Flippen: I suppose not. And to your point about management not really making a comment, at least not outside of theirearnings callabout traffic, the very little comment and color they provided to traffic was in the context of their Amazon returns partnership. Essentially what they said is, we moved the Amazon returns option to the back of the store to "allow for greater social distancing," [laughs] which to me said, make sure people walk through the entirety [laughs] of Kohl's before they can make their Amazon return, to please get them to buy at least something. That, to me, is a little bit of a yellow flag. Because what that says to me is management expected there to be more sales as a result of Amazon returns from where they had them placed originally and it just wasn't happening. So they had to move it [laughs] to the back of the store.
Kline: So, let me ask the question, why wasn't it in the back of the store in the first place? The only point of them doing this was to have traffic and expose it to all the things Kohl's sells. And Kohl's sells some bizarre stuff; they are a confusing store. They have that section where they sell, like, coffee makers and appliances, there's a bedding section, there's a little toys section, there is sometimes a home goods section. You want to expose the customer to everything, especially now, because I would say the bread and butter for Kohl's is work clothes. And, Emily, we go to work every day, sort of, but we don't go anywhere. I mean, I go a mile from my house to an empty room with a green screen, and you work in your living room. Are you dressing the same you used to dress, are you putting the effort into this that you would have put in when going into the office on a daily basis?
Flippen: Well, Dan, you did see me yesterday and I may have been wearing the same shirt that I'm wearing right now as we tape this. So, I think it's a fair statement to say, no, [laughs] I am not putting as much effort into my wardrobe as I did previously. Maybe there's an argument to be made that as people do start slowly trickling back into their works over the next few months, once we get a vaccine, whatever it may be, that there will be an increase in purchasing work clothes, if for no other reason than all of our work clothes no longer fit. [laughs] I don't know about anybody else, but maybe we'll need to go out and buy some new pants, buy some new shirts when we're expected to go in-person again. I'm not sure if that's going to be enough to really be a reason to own shares of Kohl's, but maybe that's something that acts as a tailwind to them at some point in the future. Either way, this quarter, it was not as disastrous as it could have been, but things are not looking up right now.
Kline: So, I would not own shares of Kohl's, but if you had to ask me if I would bet on Kohl's surviving, I think it will. I don't think it's out of the question that Amazon and Kohl's partner more heavily as a way to display Amazon owned and operated brands. It is a weakness for Amazon that they own, in theory, a lot of good clothing lines that you can only see on their website, that's something they might solve with technology, they might solve with their own stores, but they could solve really easily with Kohl's, and that would make sense, buy 49% of Kohl's.
That said, I do think we're going to need places to buy clothes. And as chains like Dillard's shrink or go away, chains like JCPenney shrink and maybe go away, many of the mall retailers, specifically ones that cater to women, like Ann Taylor, have struggled and are closing stores, some that tailor to both genders, like Gap, have struggled.
I do think there's going to be a place for Kohl's. I'm a Kohl's shopper. You know, it's reasonably affordable; they have a good selection; it's pretty easy as a place to find, there's a lot of them. So, I'm confident about the brand, I just don't know that it's a great investment.
Flippen: Fair enough. I agree with you about Kohl's, I think it probably survives this, if for no other reason, than that [laughs] Amazon partnership. But they do still have a loyalty program that has something like 30 million members in it. So, there's something to be said for the audience that does frequent Kohl's, it's not JCPenney, at least not yet.
And before we wrap up today's show, I know we wanted to give a little bit of -- I'm not going to officially call it an earnings preview, but we're going to discuss Target. Target is reporting, I believe, in the morning tomorrow, Wednesday, the 19th. So, after we're taping this episode. But we can't talk about Walmart, we can't talk about Home Depot and Kohl's without also mentioning one of the other big retail giants, and that is Target. Do you expect Target to be just as strong as Walmart, or worse, or better even?
Kline: I think it could be better, because I do think Target has some trendier brands, you know, some owned and operated that may be exciting to people a little bit, maybe they sold a little bit more clothing than expected. But it's going to be in the same range. Their first quarter sales were up 11%, triple its expansion rate from the year-ago period. Obviously, they've had some expenses in terms of COVID-19, but they were also well positioned owning Shipt with their ability to do delivery, to do curbside pickup.
I don't think people think Target for groceries as much as they think Walmart. And it depends where you are, if you have a redone Target that has the full, sort of, grocery remake, it absolutely lives up to any other grocery store, if you have an older Target that just, sort of, has the tacked-on groceries. I understand they're in the middle of remodeling a lot of their stores. I've talked about this with you before; the remodeled store near me in Davenport, Florida, is stunning, it is a fun place to go. You know, it has a Disney store that's an experience, it has a liquor store that's an experience, it's well spaced-out and feels really bright and airy. And I think that's going to be a driver for them. So, I expect the numbers to be very good, but this could be one where they come out and report 15% growth, and it wasn't 25% growth, so the market could not like it. I think that's possible.
Flippen: I think that's possible, too. I would also just express some concern about -- we talked about clothing, a fair amount of what attracts people to go to Targets, especially with foot traffic, is their clothing offerings. And if people simply aren't buying as much clothing or aren't, you know, feeling the need to walk around a Target the way they were pre-pandemic, then that could also potentially negatively affect them.
I feel like, in my mind, there's a more compelling reason for me to visit a Walmart during a pandemic than there is a Target, but to your point, Dan, I'm not surrounded by one of those fancy upgraded Targets that maybe compete more on the holistic experience as compared to a Walmart.
Kline: Target has also been one of the few places I've been. Not that I haven't been going out, but I've been doing a lot of grocery order and maybe a once-a-week stop by Whole Foods. I mean, I've been to Disney and casinos, so I can't say I'm not going out.
But Target is kind of entertainment as well. If I'm going to Target, my son wants to come and we'll walk through electronics, we'll walk through the nerf gun section. We're not necessarily making a lot of purchases. I think both of these companies, Walmart and Target, are benefiting from the cancellation of summer camps, they're selling a lot of basketball hoops. I got a hoop for some kids who went to my old summer camp that I, sort of, big brother. And it wasn't easy to find. I think things like televisions, you know, they're at good prices, but they have not been heavily marked down, because we're upgrading our televisions. The Target near me is always sold out of some models of Roku and some devices like that, because people are consuming them on a heavy basis.
I think both of these stores benefit from sales trends, they benefit from the work they already did on supply chain, and they benefit from the fact that some stuff people would usually buy from Amazon -- for the first few months of this, Amazon said, nope, we're going to focus on certain things, we're not going to replenish our weights or our basketball hoops, because we have to get food and toilet paper out to people. By the way, good choice, because food and [laughs] toilet paper are more important than basketball hoops.
But once you shop at Target and join their app and give them your information, we can talk about this over and over, you're a customer, it's easier for them to get to you, it's more likely you're going to go back. So, I'm actually an in-store Target customer, I can't remember -- I ordered taco shells during the pandemic, because I couldn't find them anywhere else, from Target and padded that out with a few other things. But for the most part, I do not use their digital product, but that said, I think they have a really loyal customer base and the numbers are going to be good, Wall Street just may not respond well to those [laughs] numbers being good.
Flippen: Understandable. I love doing this show because it's very rare that we get to say the earnings of Walmart, a Kohl's -- OK, Kohl's is a bad example -- Walmart, Home Depot or Target rivals that of pre-pandemic SaaS companies, right. [laughs] The increases in sales. It's not very often that we get to say these are growth-style companies. And more and more every day these are looking like companies that are truly showing their worth during this pandemic. So, this is a fun episode and I look forward to seeing what Target has to say tomorrow morning.
Kline: And Costco and some of the other big retailers. I think this is going to be a telling quarter about the future of retail.
Flippen: Definitely. Dan, thank you so much for joining.
Kline: Thanks for having me.
Flippen: Listeners, that does it for this episode of Industry Focus. If you have any questions, you can always shoot us an email at IndustryFocus@Fool.com or tweet at us @MFIndustryFocus.
As always, people on the program may own companies discussed on the show, and The Motley Fool may have formal recommendations for or against any stocks mentioned, so don't buy or sell anything based solely on what you hear.
Thanks to Tim Sparks for his work behind the screen today. For Dan Kline, I'm Emily Flippen, thanks for listening and Fool on!
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Daniel B. Kline owns shares of Starbucks and Walt Disney. Emily Flippen owns shares of Home Depot, Scotts Miracle-Gro, and Shopify. The Motley Fool owns shares of and recommends Amazon, Berkshire Hathaway (B shares), Home Depot, Roku, Scotts Miracle-Gro, Shopify, Starbucks, and Walt Disney. The Motley Fool recommends Costco Wholesale and Lowe's and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), long January 2021 $60 calls on Walt Disney, long January 2021 $120 calls on Home Depot, short January 2021 $210 calls on Home Depot, short January 2022 $1940 calls on Amazon, long January 2022 $1920 calls on Amazon, short September 2020 $200 calls on Berkshire Hathaway (B shares), and short October 2020 $125 calls on Walt Disney. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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They're improving -- I steal the term from you, really -- their omnichannel experience here, encouraging people to do things like order online then pick up in stores if they can't get it for delivery. And I'm also going to point out, Emily, that 60% pickup number meant that a lot of people use the convenience of the app as a way to minimize their time in the store; that's very smart during a pandemic, but here's why that's important and theoretically something that builds for Home Depot. As always, people on the program may own companies discussed on the show, and The Motley Fool may have formal recommendations for or against any stocks mentioned, so don't buy or sell anything based solely on what you hear.
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In this episode of Industry Focus: Consumer Goods, Emily Flippen and The Motley Fool contributor Dan Kline discuss the latest earning reports from some big retailers in the consumer goods space. The Motley Fool owns shares of and recommends Amazon, Berkshire Hathaway (B shares), Home Depot, Roku, Scotts Miracle-Gro, Shopify, Starbucks, and Walt Disney. The Motley Fool recommends Costco Wholesale and Lowe's and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), long January 2021 $60 calls on Walt Disney, long January 2021 $120 calls on Home Depot, short January 2021 $210 calls on Home Depot, short January 2022 $1940 calls on Amazon, long January 2022 $1920 calls on Amazon, short September 2020 $200 calls on Berkshire Hathaway (B shares), and short October 2020 $125 calls on Walt Disney.
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Flippen: My, maybe ignorant, thought process was, well, if lots of people are making orders on Amazon, and Kohl's has this agreement with Amazon to accept returns, in places where they were accepting returns, maybe there is an increase in foot traffic and maybe they wouldn't be as badly hit. But we can't talk about Walmart, we can't talk about Home Depot and Kohl's without also mentioning one of the other big retail giants, and that is Target. The Motley Fool recommends Costco Wholesale and Lowe's and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), long January 2021 $60 calls on Walt Disney, long January 2021 $120 calls on Home Depot, short January 2021 $210 calls on Home Depot, short January 2022 $1940 calls on Amazon, long January 2022 $1920 calls on Amazon, short September 2020 $200 calls on Berkshire Hathaway (B shares), and short October 2020 $125 calls on Walt Disney.
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When you go into any clothing store, there are a lot of sales. I don't think people think Target for groceries as much as they think Walmart. Kline: Target has also been one of the few places I've been.
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2020-08-19 00:00:00 UTC
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Kohl's Savvy Inventory Management May Save the Company
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https://www.nasdaq.com/articles/kohls-savvy-inventory-management-may-save-the-company-2020-08-19
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It wasn't "good" by any stretch of the imagination. The coronavirus pandemic has arguably crimped retailers more than any other industry. But, department store chain Kohl's (NYSE: KSS) handily topped its second-quarter estimates, sales, and earnings. It was a much-needed glimmer of hope that the company and a few of its peers may just survive the COVID-19 contagion.
Among most of its rivals, however, Kohl's is doing one thing as well as -- if not better than -- most. It's keeping unneeded inventory out of its stores, where it can be damaged, stolen, and marked down. That in turn keeps the store chain more financially flexible than some of its competition as we move into the final months of 2020.
Image source: Getty Images.
A nimbler response
During Kohl's conference call covering the quarter ending in April, CFO Jill Timm commented, "We immediately pulled back in March and April orders, which allowed us to reduce first-quarter receipts by over 30% and helped us manage inventory down 3% to last year. We expect to further reduce inventory in the second quarter as we lowered our receipts by more than 60%."
The first quarter reduction in inventory seemed incredible, but the second quarter's planned reduction in receipts seemed impossible. Goods are sometimes ordered months in advance, and not all of it is cancellable.
Timm doesn't appear to have been overstating the retailer's flexibility, though. Last quarter's merchandise revenue fell from $4.17 billion a year earlier to $3.21 billion this time around. Inventory levels fell from $3.65 billion to $2.70 billion for the three-month stretch ending on Aug. 1. The top line's tumble of 23% was more than matched by a 26% reduction in inventory.
Data sources: Kohl's and Thomson Reuters Refinitiv. Chart by author.
Not all of its rivals were able to mirror that sweeping scaleback. Dillard's (NYSE: DDS), for instance, reported a 35% decline in sales for the same three-month period, but was only able to lower merchandise-on-hand value by 20%.
Data sources: Dillard's and Thomson Reuters Refinitiv. Chart by author.
J.C. Penney (OTC: JCPN.Q), currently entertaining acquisition offers to take it out of bankruptcy, saw a 55% dip in sales for the quarter ending in early May. Inventory levels were only pared back by a scant 10% for the quarter in question, however, perhaps pointing to difficulty in selling goods that goes beyond the obvious coronavirus headwind.
Data sources: J.C. Penney and Thomson Reuters Refinitiv. Chart by author.
Macy's (NYSE: M) wont reportresults for its quarter until early next month, but its inventory levels barely budged during its first quarter ending in early May. They fell about 10% year over year, versus the retailer's sales plunge of 45%. Those measures don't bode well for the struggling department store chain heading into the recently ended quarter's report.
Data sources: Macy's and Thomson Reuters Refinitiv. Chart by author.
Perhaps more than any other detail though, notice that compared to its rivals, Kohl's has habitually kept inventory levels low relative to its top line. It entered the pandemic with its edge.
Inventory is a liability as much as it is an asset
It matters.
Retailing is generally a low-margin business, meaning retailers must make the most effective use of capital they can. Merchandise that sits unsold on a shelf represents a lost opportunity to carry something that might sell faster. The speed at which merchandise is sold after it's put on a store's shelves or racks can also impact profits -- even low-margin items can be lucrative if those goods are sold more often.
Plus, the right assortment means inventory is sold earlier rather than later, reducing the degree of markdowns that must be taken before merchandise is moved out of the way. Never even mind the fact that the longer an item lingers in a store, the more likely it is to get lost, stolen, or broken.
To the extent it reasonably can (given the backdrop of the coronavirus pandemic), Kohl's is steering clear of those challenges. That's a key part of the reason it ended the quarter with $2.4 billion worth of cash or cash equivalents.
Granted, it had to borrow from a $1.5 billion credit facility in April and suspend the dividend to get to that figure. Of the $1.5 billion borrowed though, $1 billion of it was earmarked for refinancing existing debt obligations. The remaining $500 million helped, but only a little. A year ago, Kohl's was only sitting on $625 million in liquidity. A couple quarters ago, the retailer only held $723 million in cash and cash equivalents.
Savvy inventory management has been instrumental to preserving the department store chain's present liquidity, which gives Kohl's a tremendous level of flexibility to navigate the rest of this year.
Bottom line
Don't jump to an immutable conclusion about Kohl's future. As for most retailers, the months ahead could be tough. We're seeing green shoots of recovered consumerism, but the U.S. economy is hardly at full strength yet.
This is a company, however, that delivered on the promise it made a quarter earlier to reduce second-quarter inventory receipts by 60%. More impressive than the fact that it did is the fact that it could, leaving the store chain without loads of inventory that would be difficult, if not impossible, to sell into this year's holiday season.
This leaves Kohl's with lots of options as to what and when it sources fresh merchandise in the future, which isn't something all of its competitors can say. It may end up being a big difference-maker if things remain rough for the industry.
10 stocks we like better than Kohl's
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Kohl's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of August 1, 2020
James Brumley has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's (NYSE: DDS), for instance, reported a 35% decline in sales for the same three-month period, but was only able to lower merchandise-on-hand value by 20%. But, department store chain Kohl's (NYSE: KSS) handily topped its second-quarter estimates, sales, and earnings. Inventory levels were only pared back by a scant 10% for the quarter in question, however, perhaps pointing to difficulty in selling goods that goes beyond the obvious coronavirus headwind.
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Dillard's (NYSE: DDS), for instance, reported a 35% decline in sales for the same three-month period, but was only able to lower merchandise-on-hand value by 20%. But, department store chain Kohl's (NYSE: KSS) handily topped its second-quarter estimates, sales, and earnings. Inventory levels fell from $3.65 billion to $2.70 billion for the three-month stretch ending on Aug. 1.
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Dillard's (NYSE: DDS), for instance, reported a 35% decline in sales for the same three-month period, but was only able to lower merchandise-on-hand value by 20%. A nimbler response During Kohl's conference call covering the quarter ending in April, CFO Jill Timm commented, "We immediately pulled back in March and April orders, which allowed us to reduce first-quarter receipts by over 30% and helped us manage inventory down 3% to last year. Macy's (NYSE: M) wont reportresults for its quarter until early next month, but its inventory levels barely budged during its first quarter ending in early May.
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Dillard's (NYSE: DDS), for instance, reported a 35% decline in sales for the same three-month period, but was only able to lower merchandise-on-hand value by 20%. Inventory levels fell from $3.65 billion to $2.70 billion for the three-month stretch ending on Aug. 1. Data sources: Kohl's and Thomson Reuters Refinitiv.
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2020-08-14 00:00:00 UTC
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Stock Markets Stay Stuck Despite Retail Recovery Signs
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https://www.nasdaq.com/articles/stock-markets-stay-stuck-despite-retail-recovery-signs-2020-08-14
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Wall Street coasted into the weekend on a quiet note, as both the Nasdaq Composite and the S&P 500 (SNPINDEX: ^GSPC) pulled back slightly from near-record levels. The Dow Jones Industrial Average (DJINDICES: ^DJI) fared the best with a minimal gain, but worries about what the future might bring on the economic and COVID-19 fronts are still weighing on investors' minds.
Today's stock market
INDEX
PERCENTAGE CHANGE
POINT CHANGE
Dow
+0.12%
+34
S&P 500
(0.02%)
(1)
Nasdaq Composite
(0.21%)
(23)
Data source: Yahoo! Finance.
Yet not all of the economic news has been bad. Today, some glimmers of hope on the retail front appeared in the latest economic data, and that helped send shares of some hard-hit retail stocks climbing. The big question, though, is whether consumers can stay strong even in the face of economic strains from the pandemic.
How retail sales fared
Retail sales were up 1.2% in July, according to the latest data from the Census Bureau. Economists were looking for a number closer to 2%. But when you take out volatile areas like auto sales and gasoline, adjusted figures were up 1.5% from June's levels, which were actually above projections from experts. The gains in sales during the month helped lift year-over-year gains to 2.7% for all retail sales and 3.9% for figures excluding autos and gasoline.
The numbers were the first reasonably calm moves in several months. Sales figures plunged in March and April, but sharp rebounds in May and June largely made up for the lost ground. Especially strong during July were sales from electronics and appliance stores, surging nearly 23%. Clothing stores, food services establishments, and miscellaneous store retailers also fared well.
Image source: Getty Images.
Good news for retail stocks
Shares of major department store retailers celebrated the news, even though the retail sales figures for their niche of the market showed only a 0.1% increase in July. Macy's (NYSE: M) led the way higher with a 3% rise, while Nordstrom (NYSE: JWN) and Kohl's (NYSE: KSS) followed with 2% gains.
Also helping the sector out was a better-than-expected quarter from Dillard's (NYSE: DDS), whose shares were up 8%. The news from Dillard's wasn't exactly good, with revenue plummeting 35%. But the retailer's loss was narrower than expected, and smart inventory moves helped clear out less desirable merchandise and produce higher margins.
Nevertheless, it's hard to say major retailers are out of the woods just yet. Smart moves to emphasize e-commerce channels have worked well for some players, but others have struggled to gain traction online. Moreover, moves from Amazon.com (NASDAQ: AMZN) to utilize abandoned mall space as delivery infrastructure could destroy whatever's left of the traditional shopping mall experience.
Will consumers have money?
Even more troubling for retailers is the loss of stimulus money for ordinary Americans. Wrangling between Capitol Hill and the White House continues without results, leaving many Americans with reduced or eliminated unemployment benefits and other sources of income. Retailers need shoppers to have disposable income, and if they don't, the solid retail sales numbers in July could rapidly return to what they looked like during the early days of the pandemic.
10 stocks we like better than Dillard's
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of August 1, 2020
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends Nordstrom and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Also helping the sector out was a better-than-expected quarter from Dillard's (NYSE: DDS), whose shares were up 8%. Wall Street coasted into the weekend on a quiet note, as both the Nasdaq Composite and the S&P 500 (SNPINDEX: ^GSPC) pulled back slightly from near-record levels. The Dow Jones Industrial Average (DJINDICES: ^DJI) fared the best with a minimal gain, but worries about what the future might bring on the economic and COVID-19 fronts are still weighing on investors' minds.
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Also helping the sector out was a better-than-expected quarter from Dillard's (NYSE: DDS), whose shares were up 8%. How retail sales fared Retail sales were up 1.2% in July, according to the latest data from the Census Bureau. The gains in sales during the month helped lift year-over-year gains to 2.7% for all retail sales and 3.9% for figures excluding autos and gasoline.
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Also helping the sector out was a better-than-expected quarter from Dillard's (NYSE: DDS), whose shares were up 8%. Today, some glimmers of hope on the retail front appeared in the latest economic data, and that helped send shares of some hard-hit retail stocks climbing. How retail sales fared Retail sales were up 1.2% in July, according to the latest data from the Census Bureau.
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Also helping the sector out was a better-than-expected quarter from Dillard's (NYSE: DDS), whose shares were up 8%. How retail sales fared Retail sales were up 1.2% in July, according to the latest data from the Census Bureau. The gains in sales during the month helped lift year-over-year gains to 2.7% for all retail sales and 3.9% for figures excluding autos and gasoline.
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c34dc8a8-9bad-4d46-bd8e-e7105aba8a77
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719534.0
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2020-08-14 00:00:00 UTC
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Consumer Sector Update for 08/14/2020: M,DDS,DKNG,IQ
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DDS
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https://www.nasdaq.com/articles/consumer-sector-update-for-08-14-2020%3A-mddsdkngiq-2020-08-14
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nan
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nan
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Consumer stocks were ending moderately lower on Friday, with the SPDR Consumer Staples Select Sector ETF falling 0.2% while the SPDR Consumer Discretionary Select Sector ETF also was off nearly 0.3%.
In company news, Macy's (M) was more than 3% higher following a Crain's Chicago Business report Friday the department-store chain wants to leave or scale back its store in Chicago's upscale Magnificent Mile retail district. The move was reportedly prompted by the retailer's dissatisfaction with police response to recent looting although another source said Macy's has been discussing a possible exit since 2014 due to sliding sales at the Water Tower Place store.
Dillard's (DDS) rose over 8% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ.
Among decliners, DraftKings (DKNG) fell almost 7% after the sports betting company Friday said its net loss widened to $0.55 per share during its Q2 ended June 30 compared with a $0.15 per-share loss during the same quarter last year and also lagging the Capital IQ consensus expecting a $0.17 per share Q2 net loss. The stock also was bruised by reports the IRS thinks fantasy sports companies should pay a federal excise tax on every wager their players make.
iQIYI (IQ) dropped nearly 13% after late Thursday saying it was cooperating with a US Securities and Exchange Commission probe seeking financial and operating records since January 2018 after short-sellers Wolfpack Research in April alleged the Chinese video streaming company had engaged in fraudulent activities prior to its IPO "and has continued to do so ever since." iQIYI shares also were pressured by the company projecting Q3 revenue in a range of RMB6.95 billion to RMB7.4 billion, trailing the RMB7.5 billion analyst mean.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's (DDS) rose over 8% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ. The move was reportedly prompted by the retailer's dissatisfaction with police response to recent looting although another source said Macy's has been discussing a possible exit since 2014 due to sliding sales at the Water Tower Place store. The stock also was bruised by reports the IRS thinks fantasy sports companies should pay a federal excise tax on every wager their players make.
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Dillard's (DDS) rose over 8% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ. Consumer stocks were ending moderately lower on Friday, with the SPDR Consumer Staples Select Sector ETF falling 0.2% while the SPDR Consumer Discretionary Select Sector ETF also was off nearly 0.3%. Among decliners, DraftKings (DKNG) fell almost 7% after the sports betting company Friday said its net loss widened to $0.55 per share during its Q2 ended June 30 compared with a $0.15 per-share loss during the same quarter last year and also lagging the Capital IQ consensus expecting a $0.17 per share Q2 net loss.
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Dillard's (DDS) rose over 8% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ. Among decliners, DraftKings (DKNG) fell almost 7% after the sports betting company Friday said its net loss widened to $0.55 per share during its Q2 ended June 30 compared with a $0.15 per-share loss during the same quarter last year and also lagging the Capital IQ consensus expecting a $0.17 per share Q2 net loss. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's (DDS) rose over 8% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ. Consumer stocks were ending moderately lower on Friday, with the SPDR Consumer Staples Select Sector ETF falling 0.2% while the SPDR Consumer Discretionary Select Sector ETF also was off nearly 0.3%. In company news, Macy's (M) was more than 3% higher following a Crain's Chicago Business report Friday the department-store chain wants to leave or scale back its store in Chicago's upscale Magnificent Mile retail district.
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1b1aa08e-2462-4708-8277-49835e7a0f56
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719535.0
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2020-08-14 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Mesoblast, TFF Pharma, OptiNose
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DDS
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-mesoblast-tff-pharma-optinose-2020-08-14
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
The S&P 500 slipped further away from record levels on Friday as domestic retail sales growth slowed in July, adding to worries about a wobbly post-pandemic economic recovery in the absence of a new U.S. fiscal stimulus bill. .N
At 11:13 ET, the Dow Jones Industrial Average .DJI was down 0.06% at 27,879.77. The S&P 500 .SPX was down 0.05% at 3,371.82 and the Nasdaq Composite .IXIC was down 0.38% at 11,000.565. The top three S&P 500 .PG.INX percentage gainers: ** Kohl's Corporation , up 6.1% ** Applied Materials, Inc , up 4.9% ** ViacomCBS Inc , up 4.5% The top three S&P 500 .PL.INX percentage losers: ** Wynn Resorts, Limited , down 2.3% ** CenterPoint Energy Inc , down 1.9% ** Edison International , down 1.8% The top three NYSE .PG.N percentage gainers: ** Party City Holdco Inc , up 17.7% ** Navidea Biopharmaceuticals Inc , up 16.5% ** Dillard's, Inc. , up 13.8% The top three NYSE .PL.N percentage losers: ** India Globalization Capital, Inc , down 20.3% ** NTN Buzztime Inc , down 19.2% ** GSX Techedu Inc , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Midatech Pharma PLC , up 65.8% ** Mesoblast Ltd , up 45.7% ** Sky Solar Holdings Ltd , up 33.8% The top three Nasdaq .PL.O percentage losers: ** Flux Power Holdings, Inc , down 45.6% ** Paysign Inc , down 26.4% ** Biofrontera AG , down 23.5% ** Rocket Companies Inc RKT.N: up 4.9%
BUZZ-Quicken Loans parent Rocket in flight after Q2 guidance ** Dillard's Inc DDS.N: up 13.7%
BUZZ-Surges on smaller-than-expected quarterly loss ** OptiNose Inc OPTN.O: down 22.5%
BUZZ-Plunges after pricing stock offering ** DraftKings Inc DKNG.O: down 5.2%
BUZZ-Falls after posting wider loss on COVID-19-induced sports freeze ** Adamis Pharmaceuticals Inc ADMP.O: up 4.7%
BUZZ-Rises on positive FDA response to potential COVID-19 drug ** Delek US Holdings Inc DK.N: up 1.4%
BUZZ-Gains on move to simplify MLP structure ** Alphabet Inc GOOGL.O: down 0.4% ** Apple Inc AAPL.O: down 1.6%
BUZZ-Google and Apple face Epic challenge after 'Fortnite' removal ** TFF Pharmaceuticals Inc TFFP.O: up 14.9%
BUZZ-Hits record high after deal for potential COVID-19 drug ** Tesla Inc TSLA.O: up 1.5% BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 9.4% BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 4.9% BUZZ-Gains after impressive current-quarter forecast ** Sundial Growers Inc SNDL.O: down 27.1% BUZZ-Drops on pricing stock offering ** Co-Diagnostics Inc CODX.O: down 22.5% BUZZ-Slides after Q2 sales miss estimates ** Sunnova Energy International Inc NOVA.N: down 11.0% BUZZ-Falls on secondary share offer's discounted pricing ** iQiyi Inc IQ.O: down 14.7% BUZZ-Chinese Netflix iQIYI slumps as co faces SEC probe ** Equillium Inc EQ.O: down 20.0% BUZZ-Slides on deep-discounted equity offering ** Farfetch Ltd FTCH.N: up 12.2% BUZZ-Jumps on Q2 sales beat as people shop online ** Mesoblast Ltd MESO.O: up 45.7% BUZZ-Surges after FDA panel votes for transplant rejection treatment ** Bridgeline Digital Inc BLIN.O: down 20.3% BUZZ-Drops on quarterly loss ** Marathon Patent Group Inc MARA.O: up 3.9% BUZZ-Marathon Patent to buy advanced cryptocurrency mining hardware, shares jump
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.15%
Consumer Discretionary
.SPLRCD
down 0.26%
Consumer Staples
.SPLRCS
up 0.23%
Energy
.SPNY
up 0.06%
Financial
.SPSY
up 0.43%
Health
.SPXHC
up 0.14%
Industrial
.SPLRCI
up 0.50%
Information Technology
.SPLRCT
down 0.46%
Materials
.SPLRCM
up 0.25%
Real Estate
.SPLRCR
up 0.79%
Utilities
.SPLRCU
down 0.55%
(Compiled by Amal S in Bengaluru)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Kohl's Corporation , up 6.1% ** Applied Materials, Inc , up 4.9% ** ViacomCBS Inc , up 4.5% The top three S&P 500 .PL.INX percentage losers: ** Wynn Resorts, Limited , down 2.3% ** CenterPoint Energy Inc , down 1.9% ** Edison International , down 1.8% The top three NYSE .PG.N percentage gainers: ** Party City Holdco Inc , up 17.7% ** Navidea Biopharmaceuticals Inc , up 16.5% ** Dillard's, Inc. , up 13.8% The top three NYSE .PL.N percentage losers: ** India Globalization Capital, Inc , down 20.3% ** NTN Buzztime Inc , down 19.2% ** GSX Techedu Inc , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Midatech Pharma PLC , up 65.8% ** Mesoblast Ltd , up 45.7% ** Sky Solar Holdings Ltd , up 33.8% The top three Nasdaq .PL.O percentage losers: ** Flux Power Holdings, Inc , down 45.6% ** Paysign Inc , down 26.4% ** Biofrontera AG , down 23.5% ** Rocket Companies Inc RKT.N: up 4.9% BUZZ-Quicken Loans parent Rocket in flight after Q2 guidance ** Dillard's Inc DDS.N: up 13.7% BUZZ-Surges on smaller-than-expected quarterly loss ** OptiNose Inc OPTN.O: down 22.5% BUZZ-Plunges after pricing stock offering ** DraftKings Inc DKNG.O: down 5.2% BUZZ-Falls after posting wider loss on COVID-19-induced sports freeze ** Adamis Pharmaceuticals Inc ADMP.O: up 4.7% BUZZ-Rises on positive FDA response to potential COVID-19 drug ** Delek US Holdings Inc DK.N: up 1.4% BUZZ-Gains on move to simplify MLP structure ** Alphabet Inc GOOGL.O: down 0.4% ** Apple Inc AAPL.O: down 1.6% BUZZ-Google and Apple face Epic challenge after 'Fortnite' removal ** TFF Pharmaceuticals Inc TFFP.O: up 14.9% BUZZ-Hits record high after deal for potential COVID-19 drug ** Tesla Inc TSLA.O: up 1.5% BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 9.4% BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 4.9% BUZZ-Gains after impressive current-quarter forecast ** Sundial Growers Inc SNDL.O: down 27.1% BUZZ-Drops on pricing stock offering ** Co-Diagnostics Inc CODX.O: down 22.5% BUZZ-Slides after Q2 sales miss estimates ** Sunnova Energy International Inc NOVA.N: down 11.0% BUZZ-Falls on secondary share offer's discounted pricing ** iQiyi Inc IQ.O: down 14.7% BUZZ-Chinese Netflix iQIYI slumps as co faces SEC probe ** Equillium Inc EQ.O: down 20.0% BUZZ-Slides on deep-discounted equity offering ** Farfetch Ltd FTCH.N: up 12.2% BUZZ-Jumps on Q2 sales beat as people shop online ** Mesoblast Ltd MESO.O: up 45.7% BUZZ-Surges after FDA panel votes for transplant rejection treatment ** Bridgeline Digital Inc BLIN.O: down 20.3% BUZZ-Drops on quarterly loss ** Marathon Patent Group Inc MARA.O: up 3.9% BUZZ-Marathon Patent to buy advanced cryptocurrency mining hardware, shares jump The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 slipped further away from record levels on Friday as domestic retail sales growth slowed in July, adding to worries about a wobbly post-pandemic economic recovery in the absence of a new U.S. fiscal stimulus bill. down 0.55% (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Kohl's Corporation , up 6.1% ** Applied Materials, Inc , up 4.9% ** ViacomCBS Inc , up 4.5% The top three S&P 500 .PL.INX percentage losers: ** Wynn Resorts, Limited , down 2.3% ** CenterPoint Energy Inc , down 1.9% ** Edison International , down 1.8% The top three NYSE .PG.N percentage gainers: ** Party City Holdco Inc , up 17.7% ** Navidea Biopharmaceuticals Inc , up 16.5% ** Dillard's, Inc. , up 13.8% The top three NYSE .PL.N percentage losers: ** India Globalization Capital, Inc , down 20.3% ** NTN Buzztime Inc , down 19.2% ** GSX Techedu Inc , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Midatech Pharma PLC , up 65.8% ** Mesoblast Ltd , up 45.7% ** Sky Solar Holdings Ltd , up 33.8% The top three Nasdaq .PL.O percentage losers: ** Flux Power Holdings, Inc , down 45.6% ** Paysign Inc , down 26.4% ** Biofrontera AG , down 23.5% ** Rocket Companies Inc RKT.N: up 4.9% BUZZ-Quicken Loans parent Rocket in flight after Q2 guidance ** Dillard's Inc DDS.N: up 13.7% BUZZ-Surges on smaller-than-expected quarterly loss ** OptiNose Inc OPTN.O: down 22.5% BUZZ-Plunges after pricing stock offering ** DraftKings Inc DKNG.O: down 5.2% BUZZ-Falls after posting wider loss on COVID-19-induced sports freeze ** Adamis Pharmaceuticals Inc ADMP.O: up 4.7% BUZZ-Rises on positive FDA response to potential COVID-19 drug ** Delek US Holdings Inc DK.N: up 1.4% BUZZ-Gains on move to simplify MLP structure ** Alphabet Inc GOOGL.O: down 0.4% ** Apple Inc AAPL.O: down 1.6% BUZZ-Google and Apple face Epic challenge after 'Fortnite' removal ** TFF Pharmaceuticals Inc TFFP.O: up 14.9% BUZZ-Hits record high after deal for potential COVID-19 drug ** Tesla Inc TSLA.O: up 1.5% BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 9.4% BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 4.9% BUZZ-Gains after impressive current-quarter forecast ** Sundial Growers Inc SNDL.O: down 27.1% BUZZ-Drops on pricing stock offering ** Co-Diagnostics Inc CODX.O: down 22.5% BUZZ-Slides after Q2 sales miss estimates ** Sunnova Energy International Inc NOVA.N: down 11.0% BUZZ-Falls on secondary share offer's discounted pricing ** iQiyi Inc IQ.O: down 14.7% BUZZ-Chinese Netflix iQIYI slumps as co faces SEC probe ** Equillium Inc EQ.O: down 20.0% BUZZ-Slides on deep-discounted equity offering ** Farfetch Ltd FTCH.N: up 12.2% BUZZ-Jumps on Q2 sales beat as people shop online ** Mesoblast Ltd MESO.O: up 45.7% BUZZ-Surges after FDA panel votes for transplant rejection treatment ** Bridgeline Digital Inc BLIN.O: down 20.3% BUZZ-Drops on quarterly loss ** Marathon Patent Group Inc MARA.O: up 3.9% BUZZ-Marathon Patent to buy advanced cryptocurrency mining hardware, shares jump The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 slipped further away from record levels on Friday as domestic retail sales growth slowed in July, adding to worries about a wobbly post-pandemic economic recovery in the absence of a new U.S. fiscal stimulus bill. down 0.55% (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Kohl's Corporation , up 6.1% ** Applied Materials, Inc , up 4.9% ** ViacomCBS Inc , up 4.5% The top three S&P 500 .PL.INX percentage losers: ** Wynn Resorts, Limited , down 2.3% ** CenterPoint Energy Inc , down 1.9% ** Edison International , down 1.8% The top three NYSE .PG.N percentage gainers: ** Party City Holdco Inc , up 17.7% ** Navidea Biopharmaceuticals Inc , up 16.5% ** Dillard's, Inc. , up 13.8% The top three NYSE .PL.N percentage losers: ** India Globalization Capital, Inc , down 20.3% ** NTN Buzztime Inc , down 19.2% ** GSX Techedu Inc , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Midatech Pharma PLC , up 65.8% ** Mesoblast Ltd , up 45.7% ** Sky Solar Holdings Ltd , up 33.8% The top three Nasdaq .PL.O percentage losers: ** Flux Power Holdings, Inc , down 45.6% ** Paysign Inc , down 26.4% ** Biofrontera AG , down 23.5% ** Rocket Companies Inc RKT.N: up 4.9% BUZZ-Quicken Loans parent Rocket in flight after Q2 guidance ** Dillard's Inc DDS.N: up 13.7% BUZZ-Surges on smaller-than-expected quarterly loss ** OptiNose Inc OPTN.O: down 22.5% BUZZ-Plunges after pricing stock offering ** DraftKings Inc DKNG.O: down 5.2% BUZZ-Falls after posting wider loss on COVID-19-induced sports freeze ** Adamis Pharmaceuticals Inc ADMP.O: up 4.7% BUZZ-Rises on positive FDA response to potential COVID-19 drug ** Delek US Holdings Inc DK.N: up 1.4% BUZZ-Gains on move to simplify MLP structure ** Alphabet Inc GOOGL.O: down 0.4% ** Apple Inc AAPL.O: down 1.6% BUZZ-Google and Apple face Epic challenge after 'Fortnite' removal ** TFF Pharmaceuticals Inc TFFP.O: up 14.9% BUZZ-Hits record high after deal for potential COVID-19 drug ** Tesla Inc TSLA.O: up 1.5% BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 9.4% BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 4.9% BUZZ-Gains after impressive current-quarter forecast ** Sundial Growers Inc SNDL.O: down 27.1% BUZZ-Drops on pricing stock offering ** Co-Diagnostics Inc CODX.O: down 22.5% BUZZ-Slides after Q2 sales miss estimates ** Sunnova Energy International Inc NOVA.N: down 11.0% BUZZ-Falls on secondary share offer's discounted pricing ** iQiyi Inc IQ.O: down 14.7% BUZZ-Chinese Netflix iQIYI slumps as co faces SEC probe ** Equillium Inc EQ.O: down 20.0% BUZZ-Slides on deep-discounted equity offering ** Farfetch Ltd FTCH.N: up 12.2% BUZZ-Jumps on Q2 sales beat as people shop online ** Mesoblast Ltd MESO.O: up 45.7% BUZZ-Surges after FDA panel votes for transplant rejection treatment ** Bridgeline Digital Inc BLIN.O: down 20.3% BUZZ-Drops on quarterly loss ** Marathon Patent Group Inc MARA.O: up 3.9% BUZZ-Marathon Patent to buy advanced cryptocurrency mining hardware, shares jump The 11 major S&P 500 sectors: Communication Services .N At 11:13 ET, the Dow Jones Industrial Average .DJI was down 0.06% at 27,879.77. down 0.15% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Kohl's Corporation , up 6.1% ** Applied Materials, Inc , up 4.9% ** ViacomCBS Inc , up 4.5% The top three S&P 500 .PL.INX percentage losers: ** Wynn Resorts, Limited , down 2.3% ** CenterPoint Energy Inc , down 1.9% ** Edison International , down 1.8% The top three NYSE .PG.N percentage gainers: ** Party City Holdco Inc , up 17.7% ** Navidea Biopharmaceuticals Inc , up 16.5% ** Dillard's, Inc. , up 13.8% The top three NYSE .PL.N percentage losers: ** India Globalization Capital, Inc , down 20.3% ** NTN Buzztime Inc , down 19.2% ** GSX Techedu Inc , down 15.1% The top three Nasdaq .PG.O percentage gainers: ** Midatech Pharma PLC , up 65.8% ** Mesoblast Ltd , up 45.7% ** Sky Solar Holdings Ltd , up 33.8% The top three Nasdaq .PL.O percentage losers: ** Flux Power Holdings, Inc , down 45.6% ** Paysign Inc , down 26.4% ** Biofrontera AG , down 23.5% ** Rocket Companies Inc RKT.N: up 4.9% BUZZ-Quicken Loans parent Rocket in flight after Q2 guidance ** Dillard's Inc DDS.N: up 13.7% BUZZ-Surges on smaller-than-expected quarterly loss ** OptiNose Inc OPTN.O: down 22.5% BUZZ-Plunges after pricing stock offering ** DraftKings Inc DKNG.O: down 5.2% BUZZ-Falls after posting wider loss on COVID-19-induced sports freeze ** Adamis Pharmaceuticals Inc ADMP.O: up 4.7% BUZZ-Rises on positive FDA response to potential COVID-19 drug ** Delek US Holdings Inc DK.N: up 1.4% BUZZ-Gains on move to simplify MLP structure ** Alphabet Inc GOOGL.O: down 0.4% ** Apple Inc AAPL.O: down 1.6% BUZZ-Google and Apple face Epic challenge after 'Fortnite' removal ** TFF Pharmaceuticals Inc TFFP.O: up 14.9% BUZZ-Hits record high after deal for potential COVID-19 drug ** Tesla Inc TSLA.O: up 1.5% BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 9.4% BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 4.9% BUZZ-Gains after impressive current-quarter forecast ** Sundial Growers Inc SNDL.O: down 27.1% BUZZ-Drops on pricing stock offering ** Co-Diagnostics Inc CODX.O: down 22.5% BUZZ-Slides after Q2 sales miss estimates ** Sunnova Energy International Inc NOVA.N: down 11.0% BUZZ-Falls on secondary share offer's discounted pricing ** iQiyi Inc IQ.O: down 14.7% BUZZ-Chinese Netflix iQIYI slumps as co faces SEC probe ** Equillium Inc EQ.O: down 20.0% BUZZ-Slides on deep-discounted equity offering ** Farfetch Ltd FTCH.N: up 12.2% BUZZ-Jumps on Q2 sales beat as people shop online ** Mesoblast Ltd MESO.O: up 45.7% BUZZ-Surges after FDA panel votes for transplant rejection treatment ** Bridgeline Digital Inc BLIN.O: down 20.3% BUZZ-Drops on quarterly loss ** Marathon Patent Group Inc MARA.O: up 3.9% BUZZ-Marathon Patent to buy advanced cryptocurrency mining hardware, shares jump The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 slipped further away from record levels on Friday as domestic retail sales growth slowed in July, adding to worries about a wobbly post-pandemic economic recovery in the absence of a new U.S. fiscal stimulus bill. .N At 11:13 ET, the Dow Jones Industrial Average .DJI was down 0.06% at 27,879.77.
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6088bd15-7a04-4632-abea-368744e8398a
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719536.0
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2020-08-14 00:00:00 UTC
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Why Dillard's Stock Popped Today
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DDS
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https://www.nasdaq.com/articles/why-dillards-stock-popped-today-2020-08-14
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nan
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nan
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What happened
Shares of Dillard's (NYSE: DDS) were shooting higher today after the department store chain turned in a second-quarter earnings report that was much better than expectations. The company actually reported a narrower loss than in the quarter a year ago, even with challenges from the COVID-19 pandemic.
As of 11:31 a.m. EDT, the stock was up 11.9%.
Image source: Getty Images.
So what
Revenue at the Southern retailer fell 35.2% to $945.1 million, as a number of its stores were closed at the beginning of the quarter and retail traffic has generally been down because of the pandemic. That total missed revenue estimates of $1.01 billion.
However, investors were happy to overlook that figure as the company controlled its costs; gross margin actually rose 271 basis points due to decreased markdowns from a year ago as retail gross margin improved to 31.1%. Inventory was also down 20%, showing that the company effectively cut back on orders as stores closed in the first quarter. Lower payroll expenses also helped keep overhead costs down, and Dillard's finished the quarter with an operating loss of $33.4 million, an improvement from a $52.2 million loss in the year-ago quarter.
On a per-share basis, the company reported a net loss of $0.37 per share, while analysts had expected a loss of $4.82.
CEO William Dillard II said, "During the quarter, we worked hard to control inventory and expenses. These measures allowed us to improve gross margin and substantially narrow the loss from the prior year second quarter. We will maintain this conservative financial approach as we move forward."
Now what
Dillard's did not offer guidance, but said sales were down 28% from a year ago as of Aug. 1, and that it had reopened all of its stores except one as of June 2, though they are operating at reduced hours.
Management also said the company is well positioned to weather the pandemic as it owns nearly all of its stores, has little debt, and has low rent obligations compared to its peers. Those attributes and its cost discipline should help the company as the uncertainty around the pandemic continues.
10 stocks we like better than Dillard's
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of Dillard's (NYSE: DDS) were shooting higher today after the department store chain turned in a second-quarter earnings report that was much better than expectations. Now what Dillard's did not offer guidance, but said sales were down 28% from a year ago as of Aug. 1, and that it had reopened all of its stores except one as of June 2, though they are operating at reduced hours. Management also said the company is well positioned to weather the pandemic as it owns nearly all of its stores, has little debt, and has low rent obligations compared to its peers.
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What happened Shares of Dillard's (NYSE: DDS) were shooting higher today after the department store chain turned in a second-quarter earnings report that was much better than expectations. However, investors were happy to overlook that figure as the company controlled its costs; gross margin actually rose 271 basis points due to decreased markdowns from a year ago as retail gross margin improved to 31.1%. Lower payroll expenses also helped keep overhead costs down, and Dillard's finished the quarter with an operating loss of $33.4 million, an improvement from a $52.2 million loss in the year-ago quarter.
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What happened Shares of Dillard's (NYSE: DDS) were shooting higher today after the department store chain turned in a second-quarter earnings report that was much better than expectations. However, investors were happy to overlook that figure as the company controlled its costs; gross margin actually rose 271 basis points due to decreased markdowns from a year ago as retail gross margin improved to 31.1%. Lower payroll expenses also helped keep overhead costs down, and Dillard's finished the quarter with an operating loss of $33.4 million, an improvement from a $52.2 million loss in the year-ago quarter.
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What happened Shares of Dillard's (NYSE: DDS) were shooting higher today after the department store chain turned in a second-quarter earnings report that was much better than expectations. The company actually reported a narrower loss than in the quarter a year ago, even with challenges from the COVID-19 pandemic. Lower payroll expenses also helped keep overhead costs down, and Dillard's finished the quarter with an operating loss of $33.4 million, an improvement from a $52.2 million loss in the year-ago quarter.
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6a1c22c6-d71d-4974-8c68-c923f8bd811d
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719537.0
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2020-08-14 00:00:00 UTC
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Consumer Sector Update for 08/14/2020: DDS,DKNG,IQ
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DDS
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https://www.nasdaq.com/articles/consumer-sector-update-for-08-14-2020%3A-ddsdkngiq-2020-08-14
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nan
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nan
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Consumer stocks were narrowly lower in Friday trading, with the SPDR Consumer Staples Select Sector ETF and SPDR Consumer Discretionary Select Sector ETF each down fractionally.
In company news, Dillard's (DDS) rose over 11% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ.
Among decliners, DraftKings (DKNG) fell 6.9% after the sports betting company Friday said its net loss widened to $0.55 per share during the three months ended June 30 compared with its $0.15 per-share loss during the same quarter last year and trailed the Capital IQ consensus expecting a Q2 net loss of $0.17 per share.
iQIYI (IQ) dropped over 15% after late Thursday saying it was cooperating with a US Securities and Exchange Commission probe seeking financial and operating records since January 2018 after short-sellers Wolfpack Research in April alleged the Chinese video streaming company had engaged in fraudulent activities prior to its IPO "and has continued to do so ever since." iQIYI shares also were pressured by the company projecting Q3 revenue in a range of RMB6.95 billion to RMB7.4 billion, trailing the RMB7.5 billion analyst mean.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In company news, Dillard's (DDS) rose over 11% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ. Among decliners, DraftKings (DKNG) fell 6.9% after the sports betting company Friday said its net loss widened to $0.55 per share during the three months ended June 30 compared with its $0.15 per-share loss during the same quarter last year and trailed the Capital IQ consensus expecting a Q2 net loss of $0.17 per share. iQIYI (IQ) dropped over 15% after late Thursday saying it was cooperating with a US Securities and Exchange Commission probe seeking financial and operating records since January 2018 after short-sellers Wolfpack Research in April alleged the Chinese video streaming company had engaged in fraudulent activities prior to its IPO "and has continued to do so ever since."
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In company news, Dillard's (DDS) rose over 11% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ. Consumer stocks were narrowly lower in Friday trading, with the SPDR Consumer Staples Select Sector ETF and SPDR Consumer Discretionary Select Sector ETF each down fractionally. Among decliners, DraftKings (DKNG) fell 6.9% after the sports betting company Friday said its net loss widened to $0.55 per share during the three months ended June 30 compared with its $0.15 per-share loss during the same quarter last year and trailed the Capital IQ consensus expecting a Q2 net loss of $0.17 per share.
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In company news, Dillard's (DDS) rose over 11% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ. Among decliners, DraftKings (DKNG) fell 6.9% after the sports betting company Friday said its net loss widened to $0.55 per share during the three months ended June 30 compared with its $0.15 per-share loss during the same quarter last year and trailed the Capital IQ consensus expecting a Q2 net loss of $0.17 per share. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In company news, Dillard's (DDS) rose over 11% after the retailer reported a Q2 net loss of $0.37 per share, up from a $1.59 per share loss during the year-ago period and beating the three-analyst consensus expecting a GAAP net loss of $4.93 per share and a $4.68 per share adjusted loss for the 13 weeks ended August 1, according to Capital IQ. Consumer stocks were narrowly lower in Friday trading, with the SPDR Consumer Staples Select Sector ETF and SPDR Consumer Discretionary Select Sector ETF each down fractionally. Among decliners, DraftKings (DKNG) fell 6.9% after the sports betting company Friday said its net loss widened to $0.55 per share during the three months ended June 30 compared with its $0.15 per-share loss during the same quarter last year and trailed the Capital IQ consensus expecting a Q2 net loss of $0.17 per share.
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111258ef-0e4b-4785-8cfa-8d1aeacfad6d
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719538.0
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2020-08-14 00:00:00 UTC
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Consumer Sector Update for 08/14/2020: DDS, FTCH, PRPL, XLP, XLY
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DDS
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https://www.nasdaq.com/articles/consumer-sector-update-for-08-14-2020%3A-dds-ftch-prpl-xlp-xly-2020-08-14
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nan
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nan
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Consumer stocks were trading flat-to-higher before markets open on Friday. Shares of staples companies in the S&P 500 (XLP) were unchanged, while the consumer discretionary firms (XLY) inched fractionally higher.
Stocks moving on the news include Dillard's (DDS), which rose more than 17% before markets open. On Thursday, the company narrowed its Q2 net loss to $0.37 per share from $1.59 per share a year earlier.
Farfetch (FTCH) was also up more than 9% after reporting a Q2 adjusted loss of $0.20, wider than a loss of $0.16 in the year-ago period but beating the $0.24 per share loss consensus estimate of analysts polled by Capital IQ.
Meanwhile, Purple Innovation (PRPL) retreated more than 5%. On Thursday, the company narrowed its Q2 net loss to $0.11 per share from $0.16 per share a year earlier but missed analysts' estimates of a net profit of $0.18 per share in a Capital IQ poll.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stocks moving on the news include Dillard's (DDS), which rose more than 17% before markets open. Consumer stocks were trading flat-to-higher before markets open on Friday. Shares of staples companies in the S&P 500 (XLP) were unchanged, while the consumer discretionary firms (XLY) inched fractionally higher.
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Stocks moving on the news include Dillard's (DDS), which rose more than 17% before markets open. On Thursday, the company narrowed its Q2 net loss to $0.37 per share from $1.59 per share a year earlier. Farfetch (FTCH) was also up more than 9% after reporting a Q2 adjusted loss of $0.20, wider than a loss of $0.16 in the year-ago period but beating the $0.24 per share loss consensus estimate of analysts polled by Capital IQ.
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Stocks moving on the news include Dillard's (DDS), which rose more than 17% before markets open. On Thursday, the company narrowed its Q2 net loss to $0.37 per share from $1.59 per share a year earlier. Farfetch (FTCH) was also up more than 9% after reporting a Q2 adjusted loss of $0.20, wider than a loss of $0.16 in the year-ago period but beating the $0.24 per share loss consensus estimate of analysts polled by Capital IQ.
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Stocks moving on the news include Dillard's (DDS), which rose more than 17% before markets open. Consumer stocks were trading flat-to-higher before markets open on Friday. Shares of staples companies in the S&P 500 (XLP) were unchanged, while the consumer discretionary firms (XLY) inched fractionally higher.
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9b1c24e0-6176-4ee1-b462-1f3c4045e923
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719539.0
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2020-08-14 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Farfetch, Mesoblast, iQiyi
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DDS
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-farfetch-mesoblast-iqiyi-2020-08-14
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Futures linked to the S&P 500 and Dow dipped on Friday as data showed domestic retail sales growth slowed more than expected in July, adding to worries about a wobbly post-pandemic economic recovery in the absence of a new U.S. fiscal stimulus bill. .N
At 8:45 ET, Dow e-minis 1YMc1 were down 0.29% at 27,742. S&P 500 e-minis ESc1 were down 0.07% at 3,365.5, while Nasdaq 100 e-minis NQc1 were up 0.27% at 11,205. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fang Holdngs Ltd , up 30.4% ** Dillard's, Inc. , up 17.5% ** Farfetch Ltd , up 10.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Precision Drilling Corporation , down 13% ** Orion Group Holdings Inc , down 12.2% ** Oi Sa Em Recuperacao Judicial , down 10.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Toughbuilt Industries Equity Warrants , up 122.2% ** Taiwan Liposome , up 79.1% ** Mesoblast limited , up 57.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** Hexindai Inc , down 44.4% ** Biofrontera AG , down 29.1% ** Whole Earth Brands Equity Warrants , down 21.5% ** Tesla Inc TSLA.O: up 2.9% premarket BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 8.1% premarket BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 3.9% premarket BUZZ-Gains after impressive current-quarter forecast ** Co-Diagnostics Inc CODX.O: down 15.3% premarket BUZZ-Slides after Q2 sales miss estimates ** Sunnova Energy International Inc NOVA.N: down 9.1% premarket BUZZ-Falls on secondary share offer's discounted pricing ** iQiyi Inc IQ.O: down 11.3% premarket BUZZ-Chinese Netflix iQIYI slumps as co faces SEC probe ** Equillium Inc EQ.O: down 15.0% premarket BUZZ-Slides on deep-discounted equity offering ** Farfetch Ltd FTCH.N: up 10.8% premarket BUZZ-Jumps on Q2 sales beat as people shop online ** Mesoblast Ltd MESO.O: up 57.5% premarket BUZZ-Surges after FDA panel votes for transplant rejection treatment
(Compiled by Amal S in Bengaluru)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures linked to the S&P 500 and Dow dipped on Friday as data showed domestic retail sales growth slowed more than expected in July, adding to worries about a wobbly post-pandemic economic recovery in the absence of a new U.S. fiscal stimulus bill. .N At 8:45 ET, Dow e-minis 1YMc1 were down 0.29% at 27,742. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fang Holdngs Ltd , up 30.4% ** Dillard's, Inc. , up 17.5% ** Farfetch Ltd , up 10.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Precision Drilling Corporation , down 13% ** Orion Group Holdings Inc , down 12.2% ** Oi Sa Em Recuperacao Judicial , down 10.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Toughbuilt Industries Equity Warrants , up 122.2% ** Taiwan Liposome , up 79.1% ** Mesoblast limited , up 57.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** Hexindai Inc , down 44.4% ** Biofrontera AG , down 29.1% ** Whole Earth Brands Equity Warrants , down 21.5% ** Tesla Inc TSLA.O: up 2.9% premarket BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 8.1% premarket BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 3.9% premarket BUZZ-Gains after impressive current-quarter forecast ** Co-Diagnostics Inc CODX.O: down 15.3% premarket BUZZ-Slides after Q2 sales miss estimates ** Sunnova Energy International Inc NOVA.N: down 9.1% premarket BUZZ-Falls on secondary share offer's discounted pricing ** iQiyi Inc IQ.O: down 11.3% premarket BUZZ-Chinese Netflix iQIYI slumps as co faces SEC probe ** Equillium Inc EQ.O: down 15.0% premarket BUZZ-Slides on deep-discounted equity offering ** Farfetch Ltd FTCH.N: up 10.8% premarket BUZZ-Jumps on Q2 sales beat as people shop online ** Mesoblast Ltd MESO.O: up 57.5% premarket BUZZ-Surges after FDA panel votes for transplant rejection treatment (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures linked to the S&P 500 and Dow dipped on Friday as data showed domestic retail sales growth slowed more than expected in July, adding to worries about a wobbly post-pandemic economic recovery in the absence of a new U.S. fiscal stimulus bill. .N At 8:45 ET, Dow e-minis 1YMc1 were down 0.29% at 27,742. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fang Holdngs Ltd , up 30.4% ** Dillard's, Inc. , up 17.5% ** Farfetch Ltd , up 10.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Precision Drilling Corporation , down 13% ** Orion Group Holdings Inc , down 12.2% ** Oi Sa Em Recuperacao Judicial , down 10.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Toughbuilt Industries Equity Warrants , up 122.2% ** Taiwan Liposome , up 79.1% ** Mesoblast limited , up 57.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** Hexindai Inc , down 44.4% ** Biofrontera AG , down 29.1% ** Whole Earth Brands Equity Warrants , down 21.5% ** Tesla Inc TSLA.O: up 2.9% premarket BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 8.1% premarket BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 3.9% premarket BUZZ-Gains after impressive current-quarter forecast ** Co-Diagnostics Inc CODX.O: down 15.3% premarket BUZZ-Slides after Q2 sales miss estimates ** Sunnova Energy International Inc NOVA.N: down 9.1% premarket BUZZ-Falls on secondary share offer's discounted pricing ** iQiyi Inc IQ.O: down 11.3% premarket BUZZ-Chinese Netflix iQIYI slumps as co faces SEC probe ** Equillium Inc EQ.O: down 15.0% premarket BUZZ-Slides on deep-discounted equity offering ** Farfetch Ltd FTCH.N: up 10.8% premarket BUZZ-Jumps on Q2 sales beat as people shop online ** Mesoblast Ltd MESO.O: up 57.5% premarket BUZZ-Surges after FDA panel votes for transplant rejection treatment (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures linked to the S&P 500 and Dow dipped on Friday as data showed domestic retail sales growth slowed more than expected in July, adding to worries about a wobbly post-pandemic economic recovery in the absence of a new U.S. fiscal stimulus bill. S&P 500 e-minis ESc1 were down 0.07% at 3,365.5, while Nasdaq 100 e-minis NQc1 were up 0.27% at 11,205. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Fang Holdngs Ltd , up 30.4% ** Dillard's, Inc. , up 17.5% ** Farfetch Ltd , up 10.8% The top three NYSE percentage losers premarket .PRPL.NQ: ** Precision Drilling Corporation , down 13% ** Orion Group Holdings Inc , down 12.2% ** Oi Sa Em Recuperacao Judicial , down 10.2% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Toughbuilt Industries Equity Warrants , up 122.2% ** Taiwan Liposome , up 79.1% ** Mesoblast limited , up 57.5% The top three Nasdaq percentage losers premarket .PRPL.O: ** Hexindai Inc , down 44.4% ** Biofrontera AG , down 29.1% ** Whole Earth Brands Equity Warrants , down 21.5% ** Tesla Inc TSLA.O: up 2.9% premarket BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 8.1% premarket BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 3.9% premarket BUZZ-Gains after impressive current-quarter forecast ** Co-Diagnostics Inc CODX.O: down 15.3% premarket BUZZ-Slides after Q2 sales miss estimates ** Sunnova Energy International Inc NOVA.N: down 9.1% premarket BUZZ-Falls on secondary share offer's discounted pricing ** iQiyi Inc IQ.O: down 11.3% premarket BUZZ-Chinese Netflix iQIYI slumps as co faces SEC probe ** Equillium Inc EQ.O: down 15.0% premarket BUZZ-Slides on deep-discounted equity offering ** Farfetch Ltd FTCH.N: up 10.8% premarket BUZZ-Jumps on Q2 sales beat as people shop online ** Mesoblast Ltd MESO.O: up 57.5% premarket BUZZ-Surges after FDA panel votes for transplant rejection treatment (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Futures linked to the S&P 500 and Dow dipped on Friday as data showed domestic retail sales growth slowed more than expected in July, adding to worries about a wobbly post-pandemic economic recovery in the absence of a new U.S. fiscal stimulus bill. .N At 8:45 ET, Dow e-minis 1YMc1 were down 0.29% at 27,742. S&P 500 e-minis ESc1 were down 0.07% at 3,365.5, while Nasdaq 100 e-minis NQc1 were up 0.27% at 11,205.
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7d92ce0c-3cd5-4903-8854-47a8f9e8d685
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719540.0
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2020-08-14 00:00:00 UTC
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Friday Sector Leaders: Department Stores, Music & Electronics Stores
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DDS
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https://www.nasdaq.com/articles/friday-sector-leaders%3A-department-stores-music-electronics-stores-2020-08-14
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nan
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nan
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In trading on Friday, department stores shares were relative leaders, up on the day by about 2.3%. Leading the group were shares of Party City (PRTY), up about 16.3% and shares of Dillards (DDS) up about 14.4% on the day.
Also showing relative strength are music & electronics stores shares, up on the day by about 1.7% as a group, led by Gamestop (GME), trading higher by about 3.3% and Best Buy (BBY), trading higher by about 1.3% on Friday.
VIDEO: Friday Sector Leaders: Department Stores, Music & Electronics Stores
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Leading the group were shares of Party City (PRTY), up about 16.3% and shares of Dillards (DDS) up about 14.4% on the day. In trading on Friday, department stores shares were relative leaders, up on the day by about 2.3%. Also showing relative strength are music & electronics stores shares, up on the day by about 1.7% as a group, led by Gamestop (GME), trading higher by about 3.3% and Best Buy (BBY), trading higher by about 1.3% on Friday.
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Leading the group were shares of Party City (PRTY), up about 16.3% and shares of Dillards (DDS) up about 14.4% on the day. In trading on Friday, department stores shares were relative leaders, up on the day by about 2.3%. Also showing relative strength are music & electronics stores shares, up on the day by about 1.7% as a group, led by Gamestop (GME), trading higher by about 3.3% and Best Buy (BBY), trading higher by about 1.3% on Friday.
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Leading the group were shares of Party City (PRTY), up about 16.3% and shares of Dillards (DDS) up about 14.4% on the day. In trading on Friday, department stores shares were relative leaders, up on the day by about 2.3%. Also showing relative strength are music & electronics stores shares, up on the day by about 1.7% as a group, led by Gamestop (GME), trading higher by about 3.3% and Best Buy (BBY), trading higher by about 1.3% on Friday.
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Leading the group were shares of Party City (PRTY), up about 16.3% and shares of Dillards (DDS) up about 14.4% on the day. In trading on Friday, department stores shares were relative leaders, up on the day by about 2.3%. Also showing relative strength are music & electronics stores shares, up on the day by about 1.7% as a group, led by Gamestop (GME), trading higher by about 3.3% and Best Buy (BBY), trading higher by about 1.3% on Friday.
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71083c9b-f295-4a7c-b79d-9ec5a086b8dd
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719541.0
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2020-08-14 00:00:00 UTC
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Dillard's Stock Jumps 20% on Huge Earnings Beat
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DDS
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https://www.nasdaq.com/articles/dillards-stock-jumps-20-on-huge-earnings-beat-2020-08-14
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nan
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The first quarter of fiscal 2020 was predictably awful for Dillard's (NYSE: DDS). The COVID-19 pandemic crushed retail traffic and eventually forced its stores to close temporarily. Most investors didn't expect the Southern department store chain to fare much better in the second quarter, which ended on Aug. 1.
As expected, sales plummeted again last quarter, and Dillard's reported another net loss. However, the company's loss actually narrowed compared to the weak results it reported a year ago. That was good enough news to send Dillard's stock soaring 20% in after-hours trading on Thursday afternoon -- while still leaving the shares more than 50% below their January highs.
Dillard's Stock Year-to-Date Performance. Data by YCharts.
The sales plunge continues
In the first quarter, Dillard's reported a 47% plunge in retail sales. While the retailer was slower than many peers to close stores in response to the pandemic, it suffered from having a weaker e-commerce business than rivals like Macy's. Dillard's e-commerce revenue totaled approximately $652 million last year, according to e-commerceDB, equivalent to just over 10% of total sales. For comparison, e-commerce accounted for about a quarter of Macy's 2019 revenue.
With sales virtually grinding to a halt during March, Dillard's found itself with an inventory glut, which it addressed by implementing steep markdowns. As a result, retail gross margin fell to just 12.8% in Q1, down from 37.8% a year earlier. That led to the company booking a $228 million pre-tax loss and a net loss of $162 million ($6.94 per share) in what is often the most profitable part of the year for Dillard's.
Dillard's second-quarter performance was surprisingly good by comparison. Retail sales did fall 35% to $893 million, and total revenue fell by a similar amount, landing at $945 million. This fell short of the average analyst estimate of $1.01 billion. However, the company's aggressive moves to clear inventory in March and April paid off, as retail gross margin rebounded to 31.1% -- up from 28.7% in the second quarter of fiscal 2019.
Image source: Author.
The retailer was also able to reduce operating expenses by 35% last quarter, which was in line with its sales decline. That enabled Dillard's to limit its Q2 net loss to a modest $8.6 million ($0.37 per share), compared to $40.7 million a year earlier. Considering that the second quarter has been the weakest part of the year for Dillard's recently, this was not a bad result. On average, analysts had expected a massive loss of $4.54 per share.
The value of inventory discipline
Dillard's Q2 results highlight the importance of good inventory management in the retail industry. When retailers -- particularly sellers of fashion goods that go out of season and out of style -- order too much merchandise based on unrealistic sales goals, they are typically forced to take big end-of-season markdowns that hurt gross margin. This has been a recurring problem for Dillard's in recent years, contributing to substantial margin erosion over time.
By contrast, as the pandemic spiraled out of control this spring, Dillard's slashed its merchandise orders. That allowed it to end the first quarter with inventory down 14% year over year (despite a 47% plunge in quarterly sales). Furthermore, Dillard's reduced inventory purchases 62% year over year last quarter, enabling its strong gross margin performance and helping it exit the period with inventory down 20% year over year. Low ending inventory also bodes well for the third quarter.
Is it sustainable?
Dillard's ability to get earnings close to breakeven last quarter -- in the middle of the pandemic and during a seasonally weak period -- suggests that investors may be underestimating the company's recovery chances. Right now, Dillard's stock trades at a substantial discount to its book value of nearly $60.
Long-term revenue growth is unlikely to materialize due to Dillard's aging customer base and a lack of investment in growth initiatives. Yet the company's Q2 results suggest that cost cuts and sharper inventory management could enable significant margin expansion even if sales never fully recover to last year's mark of $6.2 billion.
With sales of $5.5 billion and a 5% pre-tax margin -- better than its recent margin structure, but well below what it achieved five years ago -- Dillard's could generate record earnings per share of about $9 at its current share count. Dillard's stock buybacks could add to the EPS momentum. From this perspective, Dillard's shares appear extremely cheap.
That said, Dillard's is on pace to record a full-year loss for fiscal 2020, despite its better-than-expected Q2 performance. One promising quarter doesn't prove that tight inventory management and cost controls will enable sustainable margin improvement. Until the company returns to profitability on a full-year basis, Dillard's stock will remain a speculative pick suitable only for the most risk-tolerant investors.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
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*Stock Advisor returns as of August 1, 2020
Adam Levine-Weinberg owns shares of Macy's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The first quarter of fiscal 2020 was predictably awful for Dillard's (NYSE: DDS). When retailers -- particularly sellers of fashion goods that go out of season and out of style -- order too much merchandise based on unrealistic sales goals, they are typically forced to take big end-of-season markdowns that hurt gross margin. Dillard's ability to get earnings close to breakeven last quarter -- in the middle of the pandemic and during a seasonally weak period -- suggests that investors may be underestimating the company's recovery chances.
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The first quarter of fiscal 2020 was predictably awful for Dillard's (NYSE: DDS). That led to the company booking a $228 million pre-tax loss and a net loss of $162 million ($6.94 per share) in what is often the most profitable part of the year for Dillard's. Furthermore, Dillard's reduced inventory purchases 62% year over year last quarter, enabling its strong gross margin performance and helping it exit the period with inventory down 20% year over year.
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The first quarter of fiscal 2020 was predictably awful for Dillard's (NYSE: DDS). That allowed it to end the first quarter with inventory down 14% year over year (despite a 47% plunge in quarterly sales). Furthermore, Dillard's reduced inventory purchases 62% year over year last quarter, enabling its strong gross margin performance and helping it exit the period with inventory down 20% year over year.
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The first quarter of fiscal 2020 was predictably awful for Dillard's (NYSE: DDS). As a result, retail gross margin fell to just 12.8% in Q1, down from 37.8% a year earlier. That led to the company booking a $228 million pre-tax loss and a net loss of $162 million ($6.94 per share) in what is often the most profitable part of the year for Dillard's.
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425e0f7a-76c8-467a-afd0-69484b443c8f
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719542.0
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2020-08-14 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Tesla, Novavax, Applied Materials
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DDS
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-tesla-novavax-applied-materials-2020-08-14
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nan
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nan
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stock index futures retreated on Friday with attention turning to retail sales figures for signs of a domestic rebound after Chinese figures pointed to a wobbly economic recovery from the COVID-19 pandemic. .N
At 6:34 ET, Dow e-minis 1YMc1 were down 0.53% at 27,675. S&P 500 e-minis ESc1 were down 0.37% at 3,355.25, while Nasdaq 100 e-minis NQc1 were down 0.18% at 11,154.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Dillard's, Inc , up 18.3% ** Fang Holdings Ltd , up 15.2% ** Sibanye Stillwater Ltd , up 12.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Intrepid Potash, Inc , down 14.1% ** Sunnova Energy International Inc , down 10.3% ** GSX Techedu Inc , down 7.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Midatech Pharma PLC , up 81.3% ** Verona Pharma , up 34.8% ** Kamada Ltd , up 23.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Hexindai Inc , down 34.7% ** Biofrontera AG , down 25.7% ** Paysign Inc , down 18.1% ** Tesla Inc TSLA.O: up 2.5% premarket BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 5.8% premarket BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 3.1% premarket BUZZ-Gains after impressive current-quarter forecast ** Sundial Growers Inc SNDL.O: up 1.3% premarket BUZZ-Rises on higher Q2 rev, co expands review to include sale
(Compiled by Amal S in Bengaluru)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures retreated on Friday with attention turning to retail sales figures for signs of a domestic rebound after Chinese figures pointed to a wobbly economic recovery from the COVID-19 pandemic. .N At 6:34 ET, Dow e-minis 1YMc1 were down 0.53% at 27,675. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Dillard's, Inc , up 18.3% ** Fang Holdings Ltd , up 15.2% ** Sibanye Stillwater Ltd , up 12.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Intrepid Potash, Inc , down 14.1% ** Sunnova Energy International Inc , down 10.3% ** GSX Techedu Inc , down 7.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Midatech Pharma PLC , up 81.3% ** Verona Pharma , up 34.8% ** Kamada Ltd , up 23.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Hexindai Inc , down 34.7% ** Biofrontera AG , down 25.7% ** Paysign Inc , down 18.1% ** Tesla Inc TSLA.O: up 2.5% premarket BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 5.8% premarket BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 3.1% premarket BUZZ-Gains after impressive current-quarter forecast ** Sundial Growers Inc SNDL.O: up 1.3% premarket BUZZ-Rises on higher Q2 rev, co expands review to include sale (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures retreated on Friday with attention turning to retail sales figures for signs of a domestic rebound after Chinese figures pointed to a wobbly economic recovery from the COVID-19 pandemic. S&P 500 e-minis ESc1 were down 0.37% at 3,355.25, while Nasdaq 100 e-minis NQc1 were down 0.18% at 11,154.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Dillard's, Inc , up 18.3% ** Fang Holdings Ltd , up 15.2% ** Sibanye Stillwater Ltd , up 12.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Intrepid Potash, Inc , down 14.1% ** Sunnova Energy International Inc , down 10.3% ** GSX Techedu Inc , down 7.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Midatech Pharma PLC , up 81.3% ** Verona Pharma , up 34.8% ** Kamada Ltd , up 23.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Hexindai Inc , down 34.7% ** Biofrontera AG , down 25.7% ** Paysign Inc , down 18.1% ** Tesla Inc TSLA.O: up 2.5% premarket BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 5.8% premarket BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 3.1% premarket BUZZ-Gains after impressive current-quarter forecast ** Sundial Growers Inc SNDL.O: up 1.3% premarket BUZZ-Rises on higher Q2 rev, co expands review to include sale (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures retreated on Friday with attention turning to retail sales figures for signs of a domestic rebound after Chinese figures pointed to a wobbly economic recovery from the COVID-19 pandemic. S&P 500 e-minis ESc1 were down 0.37% at 3,355.25, while Nasdaq 100 e-minis NQc1 were down 0.18% at 11,154.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Dillard's, Inc , up 18.3% ** Fang Holdings Ltd , up 15.2% ** Sibanye Stillwater Ltd , up 12.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Intrepid Potash, Inc , down 14.1% ** Sunnova Energy International Inc , down 10.3% ** GSX Techedu Inc , down 7.6% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Midatech Pharma PLC , up 81.3% ** Verona Pharma , up 34.8% ** Kamada Ltd , up 23.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Hexindai Inc , down 34.7% ** Biofrontera AG , down 25.7% ** Paysign Inc , down 18.1% ** Tesla Inc TSLA.O: up 2.5% premarket BUZZ-Morgan Stanley says Tesla's growth may now lie outside automobiles; upgrades ** Novavax Inc NVAX.O: up 5.8% premarket BUZZ-Rises on UK deal for 60 mln COVID-19 vaccine doses ** Applied Materials Inc AMAT.O: up 3.1% premarket BUZZ-Gains after impressive current-quarter forecast ** Sundial Growers Inc SNDL.O: up 1.3% premarket BUZZ-Rises on higher Q2 rev, co expands review to include sale (Compiled by Amal S in Bengaluru) ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stock index futures retreated on Friday with attention turning to retail sales figures for signs of a domestic rebound after Chinese figures pointed to a wobbly economic recovery from the COVID-19 pandemic. .N At 6:34 ET, Dow e-minis 1YMc1 were down 0.53% at 27,675. S&P 500 e-minis ESc1 were down 0.37% at 3,355.25, while Nasdaq 100 e-minis NQc1 were down 0.18% at 11,154.75.
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32413eae-394e-4ab9-ba39-87c3118d53fe
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719543.0
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2020-08-13 00:00:00 UTC
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Dillard's Q2 Loss Narrows
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DDS
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https://www.nasdaq.com/articles/dillards-q2-loss-narrows-2020-08-13
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nan
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nan
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS), Thursday reported second-quarter loss of $8.6 million or $0.37 per share, narrower than last year's loss of $40.7 million or $1.59 per share last year.
Net sales for the quarter dropped to $945.1 million from $1.46 billion last year.
Analysts polled by Thomson Reuters estimated loss of $4.54 per share on revenues of $1.01 billion for the quarter.
Retail gross margin improved 239 basis points of sales to 31.1% compared to 28.7% for the prior year second quarter. All Dillard's store locations were re-opened by June 2, 2020. All stores remain open and operating under reduced hours with the exception of one location, the company said in a statement.
DDS closed Thursday's trading at $27.06, up $0.21 or 0.78%, on the NYSE. The stock further gained $3.86 or 14.25% in the after-hours trade.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS), Thursday reported second-quarter loss of $8.6 million or $0.37 per share, narrower than last year's loss of $40.7 million or $1.59 per share last year. DDS closed Thursday's trading at $27.06, up $0.21 or 0.78%, on the NYSE. Analysts polled by Thomson Reuters estimated loss of $4.54 per share on revenues of $1.01 billion for the quarter.
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS), Thursday reported second-quarter loss of $8.6 million or $0.37 per share, narrower than last year's loss of $40.7 million or $1.59 per share last year. DDS closed Thursday's trading at $27.06, up $0.21 or 0.78%, on the NYSE. Net sales for the quarter dropped to $945.1 million from $1.46 billion last year.
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS), Thursday reported second-quarter loss of $8.6 million or $0.37 per share, narrower than last year's loss of $40.7 million or $1.59 per share last year. DDS closed Thursday's trading at $27.06, up $0.21 or 0.78%, on the NYSE. Net sales for the quarter dropped to $945.1 million from $1.46 billion last year.
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(RTTNews) - Luxury department store chain Dillard's, Inc. (DDS), Thursday reported second-quarter loss of $8.6 million or $0.37 per share, narrower than last year's loss of $40.7 million or $1.59 per share last year. DDS closed Thursday's trading at $27.06, up $0.21 or 0.78%, on the NYSE. Net sales for the quarter dropped to $945.1 million from $1.46 billion last year.
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ce609fd1-962c-424b-8430-ff98d52c7ee5
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719544.0
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2020-06-15 00:00:00 UTC
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Why Dillard's Stock Was Falling Today
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DDS
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https://www.nasdaq.com/articles/why-dillards-stock-was-falling-today-2020-06-15
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nan
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nan
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What happened
Shares of Dillard's (NYSE: DDS) were heading lower today as the department store chain slipped with a broader sell-off in the market on fears of a second wave of coronavirus infections that is hitting Southern states particularly hard. Most of the Arkansas-based department store chain's 285 stores are in the South, meaning it is more exposed to an outbreak the region than its peers.
As of 10:57 a.m. EDT, the stock was down 10.2%.
Image source: Getty Images.
So what
There was no company-specific news out on Dillard's, but more than a third of its stores are located in Florida and Texas, two states that have seen rapid increases in new coronavirus cases in recent days, sparking fears of another round of lockdown measures and that potential shoppers will avoid visiting stores.
New cases in Texas reached 2,569 on June 10 and are regularly topping 2,000 a day, while new daily cases in Florida have also recently surged past 2,000, according to data from Johns Hopkins University. Meanwhile, hospitalizations are at peak levels across a number of Southern states.
After closing all of its stores because of the pandemic, Dillard's began reopening them on May 5, with 45 stores opening back up across several states. Management said at the time that it was "monitoring all markets for easing of government restrictions and will reopen stores as soon as possible." In its first-quarter earnings report on May 14, the company said it would have nearly all of its locations reopened by the third week of May.
Now what
Like its department store peers, Dillard's saw first-quarter results severely impacted by the pandemic, with sales falling 47% and a reported loss of $162 million, compared to net income of $78.6 million in the year-ago quarter.
Management had said as of May 14 that sales at reopened stores, which have reduced hours, were trending at 56% of sales a year ago.
So far, state governments across the South have no plans to delay reopening schedules and Dillard's seems unlikely to close stores again unless it has to, but investors should keep an eye on case numbers in the region, as a second wave could at the very least keep customers away from its stores and weigh on the economic recovery more broadly.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 2, 2020
Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of Dillard's (NYSE: DDS) were heading lower today as the department store chain slipped with a broader sell-off in the market on fears of a second wave of coronavirus infections that is hitting Southern states particularly hard. So what There was no company-specific news out on Dillard's, but more than a third of its stores are located in Florida and Texas, two states that have seen rapid increases in new coronavirus cases in recent days, sparking fears of another round of lockdown measures and that potential shoppers will avoid visiting stores. Management said at the time that it was "monitoring all markets for easing of government restrictions and will reopen stores as soon as possible."
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What happened Shares of Dillard's (NYSE: DDS) were heading lower today as the department store chain slipped with a broader sell-off in the market on fears of a second wave of coronavirus infections that is hitting Southern states particularly hard. Most of the Arkansas-based department store chain's 285 stores are in the South, meaning it is more exposed to an outbreak the region than its peers. So what There was no company-specific news out on Dillard's, but more than a third of its stores are located in Florida and Texas, two states that have seen rapid increases in new coronavirus cases in recent days, sparking fears of another round of lockdown measures and that potential shoppers will avoid visiting stores.
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What happened Shares of Dillard's (NYSE: DDS) were heading lower today as the department store chain slipped with a broader sell-off in the market on fears of a second wave of coronavirus infections that is hitting Southern states particularly hard. So what There was no company-specific news out on Dillard's, but more than a third of its stores are located in Florida and Texas, two states that have seen rapid increases in new coronavirus cases in recent days, sparking fears of another round of lockdown measures and that potential shoppers will avoid visiting stores. So far, state governments across the South have no plans to delay reopening schedules and Dillard's seems unlikely to close stores again unless it has to, but investors should keep an eye on case numbers in the region, as a second wave could at the very least keep customers away from its stores and weigh on the economic recovery more broadly.
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What happened Shares of Dillard's (NYSE: DDS) were heading lower today as the department store chain slipped with a broader sell-off in the market on fears of a second wave of coronavirus infections that is hitting Southern states particularly hard. Now what Like its department store peers, Dillard's saw first-quarter results severely impacted by the pandemic, with sales falling 47% and a reported loss of $162 million, compared to net income of $78.6 million in the year-ago quarter. So far, state governments across the South have no plans to delay reopening schedules and Dillard's seems unlikely to close stores again unless it has to, but investors should keep an eye on case numbers in the region, as a second wave could at the very least keep customers away from its stores and weigh on the economic recovery more broadly.
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a3acce73-ec04-4595-bbfc-3b3a260bdb4e
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719545.0
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2020-06-04 00:00:00 UTC
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Here's How Much Better Nordstrom Managed Its Inventory Last Quarter
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DDS
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https://www.nasdaq.com/articles/heres-how-much-better-nordstrom-managed-its-inventory-last-quarter-2020-06-04
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nan
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nan
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There's no sense in dancing around the issue -- the past several weeks have been miserable for retailers. Coronavirus-related shutdowns have kept consumers out of stores, worsening an already-difficult situation for most of these companies.
Nordstrom (NYSE: JWN) hasn't been immune to the impact. While revenue fell 39% year over year and the department store chain swung to a pre-tax $821 million loss for its quarter ending in early May, that's not out of character compared with its peers in these unprecedented times.
Still, Nordstrom did shine in one very important way that points to an impressive degree of inventory control. It didn't end last quarter with a mountain of merchandise, doing what too many other department store chains weren't able to do.
Image source: Getty Images.
Doing something differently
It's an often-overlooked aspect of retailing. Inventory must be managed properly if a store is to survive. Too much of it, and too much money is tied up in goods that lose value the longer they sit unsold on the sales floor. Too little of it, and shoppers can't find what they want to buy.
Every retailer's past few months have been relatively disastrous, of course, with COVID-19 shutting down shoppers as well as supply chains in March with little to no warning. It can take months to procure, stock, and then sell any particular item in a store. Retailers had only days to respond in March, and it just wasn't enough time to make the ideal inventory adjustments.
Given the circumstances, though, Nordstrom did about as well as anyone had a right to expect. In step with the near-40% plunge in sales, inventory levels fell 26% from $2 billion a year earlier to just under $1.5 billion for the three-month stretch ending on May 2.
Note: All dollar amounts are in millions. Data source: Thomson Reuters/Refinitiv. Chart by author.
For the sake of comparison, Kohl's (NYSE: KSS) matched its 43% decline in sales for the quarter ending on May 2 with a less impressive 3% dip in inventory levels.
Note: All dollar amounts are in millions. Data source: Thomson Reuters/Refinitiv. Chart by author.
Dillard's (NYSE: DDS) first fiscal quarter also ending on May 2 indicated a 46% plunge in merchandise sales, and only a 20% decline in inventory levels.
Note: All dollar amounts are in millions. Data source: Thomson Reuters/Refinitiv. Chart by author.
The $64,000 question: What was Nordstrom able to do last quarter that most other department store chains (so far, anyway) couldn't? CFO Anne Bramman briefly touched on the matter during the Q1 conference call, explaining, "In mid-March, our teams moved quickly to realign inventory, reducing receipts by approximately 80% in April and May." The company also made a point of using stores themselves as fulfillment centers for online orders.
The real takeaway for investors is, however, not what Nordstrom did with its inventory receipts, but what it was even capable of doing. Canceling 80% of receipts planned for delivery in April and May is no small matter. Nordstrom really has control of its merchandise flow, and better still, it knew how and when to flip that switch to the "off" position.
(Re)built to last
One quarter doesn't make a trend. On the other hand, the supply chain that Nordstrom turned almost completely off in April and the fulfillment process that turned stores into warehouses in the midst of nationwide shutdowns weren't developed in just one quarter. The stellar inventory management is the result of work done over the past couple of years now, as the store chain has sought to reinvent itself for relevancy in a web-dominated, instant-gratification-minded world. CEO Erik Nordstrom commented during last quarter's earnings call that the "drastic changes we're seeing with our business through this crisis is really an acceleration of what's been in place before."
The ultimate upside is still the same, though. That is, Nordstrom had inventory flexibility when it needed it the most. This leaves it well-positioned for financial flexibility coming out of the contagion's grips, whenever that might be. While rival stores will be saddled with spring (and some summer) inventory that will require above-average markdowns to sell in late summer into early fall, Nordstrom has already shed much of this inventory and has already collected some revenue for it, even if it took more markdowns than it normally would have.
Perhaps most compelling about the actions taken during the recently completed quarter, though, is that they proved Nordstrom's internal mechanism for in-store fulfillment and the movement of merchandise from full-price to off-price venues works well. No other major department store retailer seems as well-equipped in this regard. The sales/inventory charts above indicate this isn't exactly new.
It's another reason to believe Nordstrom will survive the retail apocalypse that could claim even more stores in the wake of coronavirus shutdowns.
10 stocks we like better than Nordstrom
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Nordstrom wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of April 16, 2020
James Brumley has no position in any of the stocks mentioned. The Motley Fool recommends Nordstrom. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's (NYSE: DDS) first fiscal quarter also ending on May 2 indicated a 46% plunge in merchandise sales, and only a 20% decline in inventory levels. CFO Anne Bramman briefly touched on the matter during the Q1 conference call, explaining, "In mid-March, our teams moved quickly to realign inventory, reducing receipts by approximately 80% in April and May." The stellar inventory management is the result of work done over the past couple of years now, as the store chain has sought to reinvent itself for relevancy in a web-dominated, instant-gratification-minded world.
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Dillard's (NYSE: DDS) first fiscal quarter also ending on May 2 indicated a 46% plunge in merchandise sales, and only a 20% decline in inventory levels. While revenue fell 39% year over year and the department store chain swung to a pre-tax $821 million loss for its quarter ending in early May, that's not out of character compared with its peers in these unprecedented times. In step with the near-40% plunge in sales, inventory levels fell 26% from $2 billion a year earlier to just under $1.5 billion for the three-month stretch ending on May 2.
|
Dillard's (NYSE: DDS) first fiscal quarter also ending on May 2 indicated a 46% plunge in merchandise sales, and only a 20% decline in inventory levels. It didn't end last quarter with a mountain of merchandise, doing what too many other department store chains weren't able to do. The $64,000 question: What was Nordstrom able to do last quarter that most other department store chains (so far, anyway) couldn't?
|
Dillard's (NYSE: DDS) first fiscal quarter also ending on May 2 indicated a 46% plunge in merchandise sales, and only a 20% decline in inventory levels. It didn't end last quarter with a mountain of merchandise, doing what too many other department store chains weren't able to do. Every retailer's past few months have been relatively disastrous, of course, with COVID-19 shutting down shoppers as well as supply chains in March with little to no warning.
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25a62eb7-0a6b-419b-b176-fcf6989ac535
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719546.0
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2020-05-21 00:00:00 UTC
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How Is COVID-19 Impacting Restaurants?
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DDS
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https://www.nasdaq.com/articles/how-is-covid-19-impacting-restaurants-2020-05-21
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nan
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nan
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In this episode of Motley Fool Money, Chris Hill and Motley Fool analysts Jason Moser and Ron Gross bring you the latest headlines from the markets. They go through the April retail sales numbers and the latest earnings reports from retail, restaurants, hospitality, and more. They discuss a merger announcement and some encouraging news on the diagnostic side and much more.
Bill Mann has a conversation with businessman and TV host Marcus Lemonis. And finally, the guys share their stock picks for your watch list.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.
10 stocks we like better than Walmart
When investing geniuses David and Tom Gardner have an investing tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Walmart wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
Stock Advisor returns as of 2/1/20
This video was recorded on May 15, 2020.
Chris Hill: We got the latest headlines from Wall Street. Marcus Lemonis, host of The Profit is our guest. And as always, we've got some stocks on our radar.
We begin, once again, with the big macro. Retail sales in April fell more than 16%; the worst drop on record. Ron, we're going to get to a few of the ripple effects in a minute, but consumer spending typically drives about 70% of America's economy. I don't know how many more months like this we can take.
Ron Gross: Yeah, brutal. But I mean, perhaps not surprising. We're all under stay-at-home orders, or at least we were until recently, 36 million of us filing claims for unemployment. This is got to show up in the numbers. And some of the worst-hit sectors are ones that we probably could have guessed. Clothing down almost 80%. Furniture down 60%. Not a lot of people buying furniture nowadays; although I will admit that I did. So, I helped that number just a little bit. Bars and restaurants, not surprisingly, down 30%.
The one bright spot, and we probably could have guessed this as well, is non-store retailers up about 8% for the period. Obviously, all of us shop online, my family certainly doing their part to help the Amazons and other e-retailers of the world.
But this is a brutal number, that's why so many states are pushing to reopen. I just hope it's not too soon and we fall back, but the economy certainly needs to get kick-started just a bit.
Hill: Yeah, Jason, from time-to-time when we talk about bricks-and-mortar retail, we talk about the different tiers for malls and sort of those tier one malls being a little bit safer and more stable than tier two or tier three. I think everything is up for grabs now.
Jason Moser: Yeah, I think you're right. This environment really isn't discriminating, for the most part; now, there is an exception there. Ron, I thought that was pretty interesting, you guys got some furniture, we got some furniture too. We got a nice lazy -- like a recliner and we got this big ottoman, so. Yeah, I don't know, maybe there's something there. But, yeah, it was a bad month for most, but not quite all. The non-store retailers up 8.4%.
And to that point on furniture. You know, we saw some quarterly reports here with Wayfair (NYSE: W) and Etsy (NASDAQ: ETSY) that were both very encouraging and I think really shine a light on the opportunity that exists with business models like those, where they're just really virtual networks connecting suppliers with buyers.
But Wayfair stated in their call, starting in mid-March they saw a pickup in traffic and conversion with increasingly strong repeat behavior, coupled with an acceleration in new customer orders and that went on into April as well. Etsy noted that April was about so much more than just masks. Interestingly, their platform really has sold a lot of masks during this time, for obvious reasons. But they even broke out non-mask sales on the Etsy core marketplace were up 79% from last year.
So, you're seeing, obviously, a lot of trouble everywhere, but there are pockets of opportunity there. And you see the way that Wayfair and Etsy's stocks have performed this year, it starts to make a little bit more sense when you see how these businesses perform during the month of April and going on into May.
Gross: Yeah. And then you counter that with the traditional retailers, whether they are mall-based stores or department stores that's stand-alone. Dillard's (NYSE: DDS), for example, reported this week. Listen, all 285 stores were closed for part of this period, what are you going to do? That's completely devastating. 90% of employees furloughed, salary reductions for executives.
Now, the investing community is focused on the future, as typical for stocks in the stock market. And Dillard's stock has reacted pretty well, because they reopened 45 stores on May 5th, an additional 80 on May 12th, 116 more will be opened next week. Slowly things are starting to reopen. As I said, I hope it's not too soon. But looking toward the future, they think they're going to start to generate some revenue again. So far about 56% of revenue has been recaptured, and that's even with reduced hours at Dillard's, so.
I mean, we haven't talked about Dillard's on the show for forever. You know, Mac earlier said, I can't even believe that's still a company. But it's an example of a completely meshed brick-and-mortar retailer that has just had a really tough go of it.
Hill: You know, Jason, Ron mentioned bars and restaurants. We got some pretty scary data out of OpenTable this week. And when you think about restaurants, in particular, trying to reopen, they've got to do it at reduced capacity. And long-term, you have to believe a lot of them aren't going to survive.
Moser: Yeah, I think the data that OpenTable released, it was something like, one in four restaurants just won't ever come back. And when you look at that actual industry, I mean, it's +$850 billion in sales annually; that's a big market when it comes to our overall economy here. And the restaurant business is really difficult to begin with. I mean, there is just a high failure rate, because it's very low barriers to entry, very competitive, hard to maintain sustainable success, really.
I think that going forward, it really feels like we are going to see the cost-of-business go up for restaurants on a sustainable basis. I think that for many restaurants that are going to have to figure out a way to incorporate those costs into the operations, whether it's just through hiking prices in food. I wonder if it's not a better idea to just be blatantly obvious about it and on the bill note that you've got PPE costs or cleaning and sanitization costs, because perhaps if customer see those line items broken out, they feel a little bit more confident that the restaurants they're going to are actually looking out for them from that perspective.
But, yeah, I mean, it does go to show really the scale, when it comes to restaurants, is a big advantage. And even that scale doesn't necessarily mean it's going to be easy going. I mean, Starbucks is out there right now negotiating with their landlords to lower rents by up to 40% for a year. And that's Starbucks, one of the most powerful food and beverage operations in the world.
Gross: Yeah, your point, Chris, on mall real estate is well taken. And the closings of these restaurants are going to, obviously, exacerbate that outside of the mall space. So, we're going to have a lot of problems in the real estate market.
I just saw this morning, Manhattan new rentals down 71%. Vacancy rates the highest in 14 years. I'm not sure that abates anytime soon, so it's something to really watch carefully.
Hill: Well, and you have to figure a business as large as Starbucks, probably has some leverage here. Because if you're in the commercial real estate business, guys, whether it's traditional office space or retail and restaurant space, you're looking at a very uncertain future, aren't you?
Moser: I would think so. You know, we saw a little while back with Cheesecake Factory, basically drawing a line and saying, [laughs] "Hey, we're not going to pay rent, because we just can't." I mean, yeah, they probably could have pulled a few levers to make that work, but it is good to note that point that as a tenant, the deck isn't always stacked completely against you, particularly if you've been in a location for a long period of time, if you're seen as kind of an anchor location or one that generates a lot of traffic.
I mean, there's more than one entity in that value chain, right? There are banks that are providing those mortgages and borrowers who are serving as the landlords. This affects everybody to an extent. So, it probably favors most to be open minded, perhaps negotiate some lower rates for a specific amount of time, understanding that this will eventually pass. The real question is, what does that new normal look like?
Because I think that we have to, kind of, come to the realization that we're going to be living in an environment where COVID-19 is just part of our existence, right? I mean, it's not like we're just going to eliminate this thing from existence, but we can't just hunker down and shut everything down for the next year or two years either.
Hill: When it comes to the restaurants, you know, there are a lot of industries where you look at, sort of, the higher-end players, maybe they've got better margins that sort of thing. And in rough times, they're in safer condition. When I think about the restaurants, I actually think it could be the reverse, because a high-end steakhouse, like The Capital Grille, which is part of Darden Restaurants, they may be in more trouble than a burger place like McDonald's, which has built its business in part on delivery, it's not about the in-restaurant experience at McDonald's.
Moser: I totally agree with you. I think that the restaurants that are focused less on the in-facility dining experience, whether that's fast-casual, like, Chipotle or your quick serve like McDonald's. I think those restaurants going forward definitely have a leg up here. Because people, generally speaking, you're not looking for that lovely ambience that you're going to find in a Chipotle or a McDonald's, not to say that eating there is a bad thing, don't get me wrong. [laughs] But you know, I mean there is a difference there.
And so, I do feel like the quick-service restaurants and the fast-casual restaurants are going to come out of this, or they at least have the opportunity to come out of this in a little bit better shape, particularly when you add that delivery dynamic to the model.
Gross: But I do think that restaurants are notoriously known as bad investments, because those mom-and-pop ones, you know, they've got a dream and they open up the local Italian restaurant on the corner or the Greek place or the Mediterranean place, what have you. It's a tough business, competition is unbelievable. And it's those are the guys that are going to go out and not come back versus the bigger guys who can access the public markets to raise capital, float a debt offering, a bond offering to get them through to the next stage. Maybe they'll have to pare down their square footage and their footprint and maybe close some stores, but I think they will survive, because they have access to capital.
Hill: Speaking of delivery, shares of Grubhub (NYSE: GRUB) up more than 15% this week on reports that Uber is making a bid to buy Grubhub. Jason, Uber has Uber Eats, you throw in Grubhub, they've cornered the market. Is this a good move?
Moser: It could be. I mean, when you look at the economics of food delivery, that's a really difficult market, we've seen that just through Grubhub's financials and even Uber's financials as well. It's a market that doesn't reward exclusive relationships. So, it does make sense for Uber to be looking at it this way, it leverages that network that they already have. And we've talked about that a lot about how they're going to leverage that network into additional offerings in order to ultimately build a sustainably profitable model.
I think the bigger question really does come on the regulatory front, because when you think about it, the combined entity here would control well over half the domestic market in delivery. And that could be construed as a long-term negative, but there is still this competition out there. So, who knows? I mean, you could argue that blocking consolidation would actually put smaller competitors out of business, because the economics are so tough anyway. But I mean, we've definitely seen where UberEats has gained a lot of traction here.
In their most recent reported quarter, they generated $4.7 billion in gross bookings; that was up 54% from a year ago. Net revenue accelerated to 124% growth from a year ago. The take rate has gone up to 11.3%. And it is working its way toward contributing more to a profitable model for Uber. I think, really, the bigger question would be on the regulatory front, but I don't think it would be blocked. So, it's a move that certainly makes sense, I think.
Hill: Here's a company we've never discussed before, Quidel (NASDAQ: QDEL). Quidel makes diagnostic healthcare products, and shares were up more than 20% this week after the company got emergency approval from the FDA to distribute a new type of COVID-19 antigen test. The test is designed for rapid detection of the virus. Ron, it seems promising.
Gross: And our own David Gardner, once again looks into the future earlier than others. Recommended this back in March, I believe, and it certainly has panned out well so far. Very encouraging. The difference between this test and others is it actually looks for pieces of the virus itself rather than for antibodies of the virus that allows the tests to be done more quickly in 15 minutes or so with a relatively good accuracy rate of about 85%. And also, the exciting part is that the infrastructure is already in place. It uses these machines called Sofia machines, which are produced by Quidel. And there are already 40,000 of them in doctors' offices around the country. So, this is a very exciting, what I hope will be one of many breakthroughs in testing and diagnostic testing. And then eventually vaccines to get us to the other end of this pandemic.
Hill: Ron, Marriott (NASDAQ: MAR) has a rock-solid brand. How's their balance sheet, because this might take a while?
Gross: [laughs] Their balance sheet is OK, but they were smart, in April, they raised $2.5 billion additional dollars through debt to shore it up, because they already had $12 billion of debt and only $1.8 billion of cash. So, a smart move. You know, what can you say, a brutal time for them. Revenue Per Room, otherwise known as RevPAR, was down 22.5% for the quarter, but that doesn't even tell the whole story because this got really bad in April where that plummeted to being down 90%. 25% of their 7,300, 7,400 hotels are closed. One bright spot is they do see China is recovering occupancy, they hit 25% in April, which sounds horrible but that actually is an uptick and shows, perhaps, some recovery.
You mentioned net income, at least there is net income. They're still positive, not losing money, adjusted EBITDA $442 million, which is still down 46%, but they're not burning through cash in that sense. And as we said earlier, their balance sheet looks OK and they firmed it up through a debt offering. So, obviously, they're halting further share repurchases as all folks are, cancelled dividend, furloughing lots of folks, including two-thirds of their 4,000 corporate workers. We'll see what the next quarter brings.
Hill: Under Armour (NYSE: UA) (NYSE: UAA) first quarter sales fell 23%, and that is about how much the stock fell this week too. Jason, this is why we diversify, right? So, I can look at my portfolio and see that my shares of Under Armour are balanced out by things like Starbucks.
Moser: Hey, listen, I've got a small position in Under Armour too, so it's always nice to be able to look at those winners to offset these losers. Speaking of taking a while, Chris, investors may want to pack a lunch, because I think this one is going to take a while.
You mentioned sales falling 23%, that was 22% excluding currency effects. They attributed 15% of that to COVID-related impacts. A quarter ago they were calling for revenue to fall between 13% and 15%, so it got worse than even they expected. By the end of March, more than 80% of their China locations had opened. At this point, potentially all of them have reopened. Traffic is slow to come back.
You know, they've got a lot going on here. They are restructuring and now they've got to figure out how to restructure and implement a new strategy in the face of a difficult environment for obvious reasons. At least, you know, everybody is kind of going through the same thing right now.
But I will say, I mean, Plank was not on the call, I think that's a positive, it does feel like this business has moved on from him as the CEO. They did name a new Chief Product Officer, Lisa Collier, who has ample experience in the industry as well.
So, there is a strong brand here, I mean, I would make the argument that the brand is probably worth more than the entire market cap of the company today at around $3 billion. But there is no question, they've got a lot of work to do, just added to the degree of difficulty here. So, it's going to take some time.
Hill: DraftKings (NASDAQ: DKNG) first quarter loss was bigger than expected. So, naturally, shares of DraftKings rose 10% on Friday, hitting a new all-time high. Ron, there's no sports, how much better is this stock going to be when we actually have sports to bet on?
Gross: You know, I think investors are focusing on the comment that they do not see a COVID impact on fiscal '21 and beyond. So, again, a short-term impact here. They recently completed a reverse merger, so they're a public company now. They're well-capitalized; $400 million, $500 million of cash on their balance sheet right now. Listen, revenue was actually up 30% for the quarter, but it was tracking at being 60% up before COVID hit. So, clearly, it's still up there.
But without sports, they're creating new offerings, everything from e-NASCAR to pool contests, covering the democratic debates, keeping people engaged, keeping people interested, so once sports do come back, things will get moving. 14 states right now are considering betting legislation, which would certainly help the business.
Hill: So, I could bet on e-NASCAR or I could bet on a political debate?
Gross: [laughs] You could have a pool, a fantasy pool of either one, you take your pick, Chris. [laughs]
Hill: You may know Marcus Lemonis as the host of CNBC's popular primetime show The Profit. He is also the CEO of Camping World (NYSE: CWH), a company that specializes in recreational vehicles. Recently, Motley Fool's Senior Analyst, Bill Mann, caught up with Lemonis. They talked about long-term disruptions, the changing demographics of RV buyers. And Lemonis kicked things off by explaining the business of Camping World.
Marcus Lemonis: So, Camping World is the world's leader in selling, servicing, financing RV's, we also have an aftermarket business called Camping World that is sort of the accessories for inside and outside your RV. And then we have our third leg on the stool, which is called Good Sam, which is our annuity business. We resell insurance, roadside assistance, warranty, credit card, club through the installed base. And so, the best way to think about it, is if you took AutoNation, AutoZone, AAA [The American Automobile Association] and you mushed them all together, for the RV space, that's us.
And we sell about one out of every five RV's in America. And we do that through 168 dealership retail locations across the country, and then, obviously, we do it online and through our call center. And so, it's been a business that I amalgamated starting in 2001, in 2016 we went public with, kind of, an interesting capital structure. So, I own 36 million of the 88 million shares myself, but we also have what's called an Up-C structure, [Umbrella partnership-C corporation] which aggravates people.
And the Up-C structure really gives me the golden share. There's very few companies that have it and I actually have the golden share, which means that if there was ever a necessity for a large vote, the golden share actually creates a scenario where there's just one vote.
And when we went public, it was a very controversial thing that how does somebody that owns you know 40% of the business control 100% of the vote? And the answer is, welcome to 2020 COVID, you're going to be glad that I have it, because in this environment, I know the business better than anybody else.
And I definitely made some business mistakes in the last two years. I tried an acquisition of a bankrupt company, it cost me about $100 million, plus or minus; I don't have the exact number. We had to shed ourselves of that, so that was a mistake that I made.
We've recently, in the last six months, gotten back to just our core business. We did not close any of our locations during this crisis, we were not required to, because homes are an essential business, people need to be able to run their water, run their electric, run their heat, run their air conditioning. So, we were exempted in every single market that we operate.
No. 2, keep in mind you have been locked up in your house for a while and you're not going to go to football games, you're not going to go to concerts, you're not going to go on cruise ships, you're not going to go on airplanes, you're not going to go anywhere where there are people, but you want to actually, now that you know who your family members are, because you've spent a month with them, you're going to want to go out and see this country. And so, if I could pick any business in America to own right now, and I didn't own it, I would own our business because of where I know the consumer is going and where I know they've been for the last 30 days.
Bill Mann: So, you did lead into what I thought would be a very interesting part of our conversation. And one of the things that I think about as an analyst is that certain things, you know, I fully believe in humankind's ability to beat a semi-sentient being, like, we're going to beat the virus, we are going to win, it's a question of long.
Certain things, though, are not going to go back to where they were before. What are some of the things that really impact the Camping World that you think may be a permanent change because of changes of habit?
Lemonis: Well, I haven't found anything, to be totally candid with you, I haven't found anything that I think is going to be a permanent change for the negative. I don't know that I found anything that I think is going to be negative other than we need the credit market. We need the credit market to [...] What happened to us in 2008-2009 wasn't that demand went away, it was that credit went away. And so, our business, boat business, dealership business, hog all those sort of types of businesses.
People think that, oh, it's a discretionary thing, look, you can buy an RV for $100/month, and so I don't want to hear that, oh, people don't have discretionary dollars. People will find $100/month if there's no other activity to do. There's literally not much to do. And the benefit that we have, while, it's terrible because, you know, the schools are closed and people have their kids running around the house, is that Summer is starting months earlier, months earlier than it normally would. And Summer could potentially, in certain markets, last longer than it normally would.
You couple that with the fact that people like the freedom to move around, they want to travel, we've seen more corporations investigate the purchase of RVs as a mode of [...] transportation, a replacement of whatever it may be. I can't think of anything that's going to permanently affect this other than, unfortunately in the short-term, I don't see people going to Disney Worlds, the equivalent of Disney World, not Disney World specific, excuse me. I don't see people going on cruise ships. I don't see people traveling overseas. I don't see people rushing to go visit their mom on a plane, but they may take a road trip, they may take a road trip. And so, I'm encouraged by people's resiliency, but I am concerned about how their behavior is going to change and we think we're positioned pretty well for it.
Mann: Have there been changes over the last few years in terms of the demographics of people who buy campers?
Lemonis: Yeah. So, two primary things, we've seen a massive increase in the diversity of the consumer, it was typically in the history, years and years ago, it was predominantly a more, you know, Anglo-type product. We've seen a massive change in the diversity, which we think is excellent. The second thing is we've seen a big shift in the age buckets. And so, historically, it was like your father's Oldsmobile, it was just an older crowd. And part of that shift was that historically the RV business was driven by motorhomes, years ago, 20, 30 years ago, it's now driven by [...] and as the unit got lighter and smaller, 17-feet with a single axle for $98/month and that you can pull with your Prius. It changed the landscape.
And so, as the unit got lighter and smaller, the age group got lower, much younger, because the portability of the product, the ability to store, the ability to drive, the ability to not have to buy a big truck, it all changed dramatically, it all changed dramatically. So, it has widened the funnel, it has definitely widened the funnel. And we think that that's going to continue to do that.
And millennials, by the way, for some crazy reason, they don't want to work, they don't want to show up on time, they want to get paid a lot of money and they want to be the president, but they also love camping.
Mann: I am on the other side of the whole millennial argument from you. I think that these are the people who are going to save America. [laughs]
Lemonis: They're going to save America, but I'll tell you this, and I'm not that far from it, I'm a young guy. They're going to save America because they're going to bring America to a place where material things matter less, being nice to people matter more, giving to others matter more, and technology matters more. So, those basic tent poles of who they are is fine, but I will tell you, my experience with millennials, and I love razing them about it. They do like to not work, they do like to have that work/life balance that you and I aren't used to, and so I end up having to have conversations with a lot of them, like, OK, I know you want to work 9:00 AM to 3:00 PM, and I know you want a two-hour siesta from 11:00 AM to 1:00 PM to read a book or write a book, but we just can't do our jobs. [...] at 4:00 PM, but not 11:00 AM.
Mann: I want to shift just a little bit and talk about the magnificent show that you've been doing since 2013, The Profit on CNBC. Could you talk a little bit about what isn't necessarily seen on the show, like, tell me a little bit about your process for evaluating the companies that you end up putting money into?
Lemonis: Yeah. So, on an annual basis, I get about 40,000 applications a year; I'm sure this year it'll be 400,000 applications because of the crisis, right? And most people are [...] process, exactly like what you see on TV. So, I choose not to do any due diligence before I get there. I know about the company to a degree, I don't see any financials, I know nothing of their, sort of, inner work other than what industry and who they are, where they are located, etc.
Mann: So, you know what lane you're driving in but that's about it.
Lemonis: Kind of. And when I originally started the show, I did it for a couple of reasons. And so, I look at that part of my personality, I split my very capitalistic personality in the business world and, sort of, my semi-capitalistic, educator personality into The Profit. And that's really how I bifurcate my personality.
And part of the reason that I did the show is to create an educational platform for people to learn how business works, and it really wasn't driven toward people like the folks on this [...] it was driven toward a younger generation who I wanted to make owning a business cool again.
You know, people want to play basketball, they want to be a rock star, they want to be in the NFL. I said, look, the cool factor isn't doing those things, it's being a business owner, and it's helping people in their business, and it's making money and doing good at the same time. And I wanted to build a curriculum that allowed people to understand the different nuances.
And I think the single biggest compliment that I've ever been given in the history of the show was, I was doing a photoshoot one day after season three, I can't remember season two or three, and my phone rang and I answered the phone, and I said, you know, Hey, this is Marcus. And you could actually just google my phone number. Marcus Lemonis -- I don't know how the person got it.
And on the other end of the phone, this person said to me, "Hey, I just wanted to call and tell you that I really, really, really enjoy your show. My family and I watch, I have my staff watch it, we talk about it in our executive meetings." And I said, well, thank you, who is this? You know, yes, Sir, thank you. May I ask who's calling? He said, yeah, this is Jamie. And I said, oh, yes, Sir. I'm sorry I apologize I must have missed your last name? He goes, "Oh, this is Jamie Dimon." And I said, Oh, yeah, no, that's funny. I appreciate it. He said, no, no, this really is Jamie Dimon. Do you want me to tell you your account number at my bank? And I said, no, Sir, seriously.
So, he said to me, the reason I'm calling is that we're going to get heavy into the show, because we believe that as a big bank in order for us to have big clients, they have to start as small clients and they have to have these basic fundamentals about their business. And what you're teaching people, applies to a Fortune 100 company, applies to a very small business on main street. These basic principles about the ethics of business and the requirement to know numbers and the requirement to do good by people, and the requirement to hold people accountable.
You get all these companies, who want to like treat small businesses, they're a charity case and just give them grants and give them money and do this and that, why don't we just treat them the same way the big business, hold them accountable, invest in them, ask for equity, put loan documents in place sophisticated, give them metrics to perform by, hold them accountable for their inventory and their balance sheet and don't ever let them use, I'm small as an excuse.
Hill: Our email address is Radio@Fool.com. Drop us an email, would you? We're lonely.
We got a note from Erin Burton in Denver, Colorado. He writes, "Guys, my girlfriend and I love your show and I have a question. Do you advise placing a cap on the number of companies to own? If so, what is the cap and why? Thanks for the great show and keep up the good work."
Thank you, Erin; thank you for listening. Ron, what do you think, should you cap the number of companies you own?
Gross: I think that's a good question. It depends on how closely you want to follow your companies. If you intend to just check in every now and then and buy a stock and really just hold it without much interference from yourself, you can probably own upwards of 50 companies; I know plenty of folks do.
If you intend to be more hands-on and review these companies quarterly or even annually, that might be a bit much. It's hard to follow, really, more than 20 or maybe 30 stocks. So, it depends on what your level of participation is.
I will add that the more stocks you own, the more you're going to start looking like an index fund and start mimicking the market as a whole, and you can do that much more easily by just buying an index fund. [laughs] So, be careful about not getting too many stocks.
Hill: Although Jason, we talked from time-to-time about the concept of leash, how much leash do you give a certain company. And let's face it, if you're buying some companies, you can essentially ignore them because you know they're going to be fine for decades.
Moser: Yeah, you definitely can. I mean, on the one hand you've got Warren Buffett who says, diversification is protection against ignorance, it makes little sense if you know what you're doing. And that's a little odd coming from someone like Buffett who we really look to for a lot of advice. And I guess in his case, maybe that makes sense. Most people, probably, are better served by diversification.
On the flipside, you look at someone like Shelby Davis, who ended up owning hundreds of positions at the end of his life. And a lot of that, he just kind of bought, just sort of let them run, and it kind of worked out well.
I think Ron's right, you do risk when you start over-diversifying, you risk that Peter Lynch diversification in getting underperformers in there and kind of letting them kind of stay in there. And that drags the portfolio down. So, it is different for everyone. I mean, typically 20 to 30 holdings is probably pretty safe as long as you have an idea of what you're doing. For most people, I do believe that owning an S&P 500 index fund is a must, even if you're going to be investing in individual companies, have some of that money plunked away in just an S&P index fund and let that, kind of, keep on growing so you can insure yourself market-matching.
Hill: Alright. Let's get to the stocks on our radar. Our man, Dan Boyd, is going to hit you with the questions. Ron Gross, you're up first. What are you looking at this week?
Gross: How about Intellia Therapeutics (NASDAQ: NTLA), NTLA. It's part of my eight-company biotech basket. It's one of three gene therapy companies that are focused on the CRISPR Cas9 gene editing technology, along with the other two companies, Editas and CRISPR.
Stock has kind of traded in a range ever since it took a beating back in September of 2018, but this week got a nice 20% bump on some really good news about the development of treatments for two diseases. And that's what I need to dig into a little bit more, because I'm not a scientist, and understanding these things sometimes takes a bit of time.
$250 million cash, so decently capitalized, should get them through at least the end of 2021.
Hill: Dan, question about Intellia Therapeutics?
Dan Boyd: Well, much like Ron, I am also not a scientist and I know nothing about genes, but I do know a thing or two about jeans; and I'm talking about pants. So, Ron, do you have a favorite style of jeans?
Gross: Not the low-waisted kind, having like the kind from, like, the 80s, would suit me fine. A nice pair of Gap jeans, which my wife does not like, but I do. [laughs]
Hill: Jason Moser, what are you looking at?
Moser: Taking a look at Axon Enterprise (NASDAQ: AAXN), ticker AAXN. You probably recognize this company if I told you they make tasers. And those are the conducted energy weapons, they substitute themselves for guns, obviously, with police forces everywhere. And the general idea is they're focused less on killing people, they want to preserve life. And that's why their solutions make more sense. So, they do make the taser, they also make the software and sensors that go with it. They are the market leader not only in the conducted energy weapons, but on-officer body cameras and in-car cameras, as well as their digital evidence platform called Evidence.com.
Something you wouldn't have found in last year's 10-K, but that is in this year's, talk of their suite of augmented reality and virtual reality training services for law enforcement. That piqued my interest, and this is a really neat business with a pretty unique competitive advantage. It's the one I'm digging more into.
Hill: Dan, question about Axon?
Boyd: Jason, are you finding lots of opportunities for self-defense during the global pandemic?
Moser: Well, you know, taser is definitely one of them. And I am researching a couple of other companies that are in that line of work, but I'm not going to spill the beans right now, Dan. That will be revealed at a later time.
Hill: What do you want to add to your watchlist, Dan?
Boyd: I'm thinking Intellia Therapeutics, Chris.
Gross: Woohoo!
Hill: Nice. Alright. Ron Gross, Jason Moser, thanks for being here, guys.
Gross: Thanks, Chris.
Moser: Thank you.
Hill: That's going to do it for this week's show. Our Engineer is Dan Boyd, our Producer is Matt Greer. I'm Chris Hill, thanks for listening, we'll see you next week.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Bill Mann owns shares of Camping World Holdings. Chris Hill owns shares of Amazon, Starbucks, Under Armour (A Shares), Under Armour (C Shares), and Walt Disney. Jason Moser owns shares of Amazon, Chipotle Mexican Grill, Etsy, Starbucks, Under Armour (A Shares), Under Armour (C Shares), and Wayfair. Ron Gross owns shares of Amazon, CRISPR Therapeutics, Editas Medicine, Intellia Therapeutics, Starbucks, and Walt Disney. The Motley Fool owns shares of and recommends Amazon, Axon Enterprise, Chipotle Mexican Grill, CRISPR Therapeutics, Editas Medicine, Etsy, Starbucks, Under Armour (A Shares), Under Armour (C Shares), Walt Disney, and Wayfair. The Motley Fool recommends Camping World Holdings, Marriott International, Quidel, and Uber Technologies and recommends the following options: long January 2021 $60 calls on Walt Disney, short January 2022 $1940 calls on Amazon, long January 2022 $1920 calls on Amazon, and short July 2020 $115 calls on Walt Disney. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's (NYSE: DDS), for example, reported this week. But Wayfair stated in their call, starting in mid-March they saw a pickup in traffic and conversion with increasingly strong repeat behavior, coupled with an acceleration in new customer orders and that went on into April as well. Quidel makes diagnostic healthcare products, and shares were up more than 20% this week after the company got emergency approval from the FDA to distribute a new type of COVID-19 antigen test.
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Dillard's (NYSE: DDS), for example, reported this week. Ron Gross owns shares of Amazon, CRISPR Therapeutics, Editas Medicine, Intellia Therapeutics, Starbucks, and Walt Disney. The Motley Fool owns shares of and recommends Amazon, Axon Enterprise, Chipotle Mexican Grill, CRISPR Therapeutics, Editas Medicine, Etsy, Starbucks, Under Armour (A Shares), Under Armour (C Shares), Walt Disney, and Wayfair.
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Dillard's (NYSE: DDS), for example, reported this week. And part of the reason that I did the show is to create an educational platform for people to learn how business works, and it really wasn't driven toward people like the folks on this [...] it was driven toward a younger generation who I wanted to make owning a business cool again. I said, look, the cool factor isn't doing those things, it's being a business owner, and it's helping people in their business, and it's making money and doing good at the same time.
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Dillard's (NYSE: DDS), for example, reported this week. Yeah, I don't know, maybe there's something there. [laughs] Hill: Jason Moser, what are you looking at?
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d53c479a-e742-4bf2-a691-ac960e55fc5f
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719547.0
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2020-05-15 00:00:00 UTC
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Why Dillard's Stock Was Going Up on Friday
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DDS
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https://www.nasdaq.com/articles/why-dillards-stock-was-going-up-on-friday-2020-05-15
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nan
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nan
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What happened
Shares of department-store chain Dillard's (NYSE: DDS) were climbing higher on Friday, after the company reported earnings for the first quarter of 2020. As 2:40 p.m. EDT, the stock was up 15%.
Don't misunderstand today's stock move; the numbers for Dillard's are quite ugly. Total quarterly retail sales fell a whopping 47% year over year.
About half of Dillard's locations remain closed. Image source: Getty Images.
So what
Dillard's has 285 store locations, and they were all closed by April 9 because of the coronavirus. Because of this, the company discounted merchandise to accelerate e-commerce sales. As a result, inventory is down 14% from last year -- which is good. After all, it only gets harder to move outdated merchandise the longer it sits there. But this inventory reduction came at a cost.
Cost of sales as a percentage of revenue was 88% for the quarter. In other words, for every $100 in merchandise Dillard's sold, it cost them $88 before accounting for other expenses. In the first quarter of 2019, cost of sales was much better, at 63% of revenue.
This disparity reflects the aggressive discounting employed by Dillard's. And it hit profitability hard. The company reported a net loss of $162 million, or $6.94 per share.
Even after today's gain, Dillard's stock still sits sharply down from 52-week highs.
DDS data by YCharts
Now what
There's really nothing in the Q1 report that would explain the rise in Dillard's stock today, other than investors hoping for a turnaround in coming quarters. Since May 5, the company has started reopening. It has reopened 149 locations with limited hours, and plans to reopen 116 additional stores soon.
As far as hoping for a turnaround, Dillard's is in a better position than many retail stock peers. It owns the majority of its real estate, has $70 million in cash on the balance sheet, and doesn't have long-term debt coming due until 2023. From a financial perspective, it's positioned to survive the COVID-19 pandemic shutdown.
That said, shareholders should be anxiously looking forward to a fully reopened Dillard's. It can't continue piling up losses by reducing inventory the way it did in Q1.
10 stocks we like better than Dillard's
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Jon Quast has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of department-store chain Dillard's (NYSE: DDS) were climbing higher on Friday, after the company reported earnings for the first quarter of 2020. DDS data by YCharts Now what There's really nothing in the Q1 report that would explain the rise in Dillard's stock today, other than investors hoping for a turnaround in coming quarters. It owns the majority of its real estate, has $70 million in cash on the balance sheet, and doesn't have long-term debt coming due until 2023.
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DDS data by YCharts Now what There's really nothing in the Q1 report that would explain the rise in Dillard's stock today, other than investors hoping for a turnaround in coming quarters. What happened Shares of department-store chain Dillard's (NYSE: DDS) were climbing higher on Friday, after the company reported earnings for the first quarter of 2020. Don't misunderstand today's stock move; the numbers for Dillard's are quite ugly.
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DDS data by YCharts Now what There's really nothing in the Q1 report that would explain the rise in Dillard's stock today, other than investors hoping for a turnaround in coming quarters. What happened Shares of department-store chain Dillard's (NYSE: DDS) were climbing higher on Friday, after the company reported earnings for the first quarter of 2020. 10 stocks we like better than Dillard's When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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What happened Shares of department-store chain Dillard's (NYSE: DDS) were climbing higher on Friday, after the company reported earnings for the first quarter of 2020. DDS data by YCharts Now what There's really nothing in the Q1 report that would explain the rise in Dillard's stock today, other than investors hoping for a turnaround in coming quarters. Because of this, the company discounted merchandise to accelerate e-commerce sales.
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719548.0
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2020-05-15 00:00:00 UTC
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Stock Alert: Dillard's Jumps 14%
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DDS
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https://www.nasdaq.com/articles/stock-alert%3A-dillards-jumps-14-2020-05-15
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nan
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(RTTNews) - Shares of luxury department store chain Dillard's, Inc. (DDS) are rising more than 14% Friday.
Yesterday, in its first-quarter earnings release, the company said, it has re-opened 149 of its stores including clearance centers, which were closed due to coronavirus pandemic. The company also said it plans to re-open another 116 stores and 5 clearance centers next week. With this, 241 Dillard's stores out of 285 would be open.
Dillard's also said the 45 stores that opened on May 5 have earned sales of approximately 56% of last year's number while operating at reduced hours.
In the first quarter, Dillard's reported a net loss of $162 million, or $6.94 a share, compared with net income of $78.6 million, or $2.99 a share, in the year-ago quarter.
Net sales fell 46% to $786.7 million from $1.46 billion a year ago.
Dillard's stock is currently trading at $26.50. It has traded in the range of $21.50- $86.71 in the last one year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Shares of luxury department store chain Dillard's, Inc. (DDS) are rising more than 14% Friday. Yesterday, in its first-quarter earnings release, the company said, it has re-opened 149 of its stores including clearance centers, which were closed due to coronavirus pandemic. Dillard's also said the 45 stores that opened on May 5 have earned sales of approximately 56% of last year's number while operating at reduced hours.
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(RTTNews) - Shares of luxury department store chain Dillard's, Inc. (DDS) are rising more than 14% Friday. Yesterday, in its first-quarter earnings release, the company said, it has re-opened 149 of its stores including clearance centers, which were closed due to coronavirus pandemic. The company also said it plans to re-open another 116 stores and 5 clearance centers next week.
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(RTTNews) - Shares of luxury department store chain Dillard's, Inc. (DDS) are rising more than 14% Friday. Yesterday, in its first-quarter earnings release, the company said, it has re-opened 149 of its stores including clearance centers, which were closed due to coronavirus pandemic. Dillard's also said the 45 stores that opened on May 5 have earned sales of approximately 56% of last year's number while operating at reduced hours.
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(RTTNews) - Shares of luxury department store chain Dillard's, Inc. (DDS) are rising more than 14% Friday. Dillard's also said the 45 stores that opened on May 5 have earned sales of approximately 56% of last year's number while operating at reduced hours. In the first quarter, Dillard's reported a net loss of $162 million, or $6.94 a share, compared with net income of $78.6 million, or $2.99 a share, in the year-ago quarter.
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c111a9ef-5731-41b7-9384-1097a0ec7555
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719549.0
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2020-05-14 00:00:00 UTC
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Dillard's Posts Q1 Loss, Re-opens 149 Locations; Shares Up 6%
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DDS
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https://www.nasdaq.com/articles/dillards-posts-q1-loss-re-opens-149-locations-shares-up-6-2020-05-14
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nan
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(RTTNews) - Dillard's, Inc. (DDS) Thursday reported first quarter loss of $162.0 million or $6.94 per share, compared to net income of $78.6 million or $2.99 per share last year.
Net sales for the quarter was $786.7 million, down from $1.47 billion last year.
Analysts polled by Thomson Reuters estimated earnings of $0.08 per share and revenues of $1.09 billion.
Dillard's said it has re-opened149 locations to date, including 24 clearance centers. The Company currently plans to re-open 116 Dillard's stores and 5 clearance centers next week.
CEO William Dillard said, "COVID-19 has impacted every aspect of our business. The mall business in general and department stores, specifically, have been particularly hard hit. While our balance sheet was already strong, we took decisive, sometimes difficult, actions to preserve liquidity and ensure our long-term viability. As we re-open stores, we see positive things happening. We believe people are ready to get out and shop. We are hoping this is the start of better times."
DDS closed Thursday's trading at $23.08, down $0.95 or 3.95%, on the NYSE. The stock, however, gained $1.37 or 5.94% in the after-hours trade.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Dillard's, Inc. (DDS) Thursday reported first quarter loss of $162.0 million or $6.94 per share, compared to net income of $78.6 million or $2.99 per share last year. DDS closed Thursday's trading at $23.08, down $0.95 or 3.95%, on the NYSE. Analysts polled by Thomson Reuters estimated earnings of $0.08 per share and revenues of $1.09 billion.
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(RTTNews) - Dillard's, Inc. (DDS) Thursday reported first quarter loss of $162.0 million or $6.94 per share, compared to net income of $78.6 million or $2.99 per share last year. DDS closed Thursday's trading at $23.08, down $0.95 or 3.95%, on the NYSE. The Company currently plans to re-open 116 Dillard's stores and 5 clearance centers next week.
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(RTTNews) - Dillard's, Inc. (DDS) Thursday reported first quarter loss of $162.0 million or $6.94 per share, compared to net income of $78.6 million or $2.99 per share last year. DDS closed Thursday's trading at $23.08, down $0.95 or 3.95%, on the NYSE. The Company currently plans to re-open 116 Dillard's stores and 5 clearance centers next week.
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(RTTNews) - Dillard's, Inc. (DDS) Thursday reported first quarter loss of $162.0 million or $6.94 per share, compared to net income of $78.6 million or $2.99 per share last year. DDS closed Thursday's trading at $23.08, down $0.95 or 3.95%, on the NYSE. The Company currently plans to re-open 116 Dillard's stores and 5 clearance centers next week.
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5701c992-24d2-44b6-97a2-7b251ae3aeac
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719550.0
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2020-05-12 00:00:00 UTC
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Simon Property Group Is Reopening More Malls. The Stock Is Rising.
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DDS
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https://www.nasdaq.com/articles/simon-property-group-is-reopening-more-malls.-the-stock-is-rising.-2020-05-12
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nan
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Simon Property Group saw its stock surge at Tuesday’s open after the biggest U.S. mall owner sent out encouraging messages: It plans to reopen half of its properties within the next week thanks to eased lockdown restrictions in many parts of the country.
During its quarterlyearnings conference callwith analysts on Monday, Simon CEO David Simon said the company is leading the effort for local economies to get back to business. “We want to help these local communities...because frankly they depend on our sales taxes,” he said.
Simon (ticker: SPG), a real estate investment trust, owns roughly 200 malls and outlet centers in the U.S., and it closed all of them temporarily on March 18 amid the Covid-19 lockdowns. As some states started easing those restrictions, the company also began to reopen some of the properties since May 1 in states such as Georgia, Texas, Oklahoma, South Carolina, Tennessee, and Indiana.
As of Monday, the company said it had reopened 77 of its properties in the U.S. as well as a dozen designer and premium outlets. CEO Simon said the company is “encouraged by the consumer response thus far.”
Shares in Simon Property surged over 9% at Tuesday’s open before falling to trade around 4% higher at $57.26. The stock has tumbled more than 60% year to date, while the S&P 500 has declined 9%.
More malls reopening is surely good news for retailers, many of which are struggling with plummeting revenue and eager to get shoppers back to stores. Thousands of stores have been shut down since March—some permanently—and employees have been furloughed. Department store chains Neiman Marcus and J.Crew filed for chapter 11 bankruptcy protection last week. Analysts say more bankruptcies are on the way.
Still, a lot needs to be done before retailers can open their doors again. Safety and health measures need to be put in place, furloughed workers need to be rehired, some merchandise needs to be restocked, and the opening hours and operating capacity of stores might need to be adjusted. Macy’s (M), Gap (GPS), and Nordstrom (JWN) have all laid out their own plans to reopen for business in phases. Most important, whether consumers are ready to pull out their wallets again facing a likely recession—or worse—remains to be seen.
“It’s not just consumers returning, but also tenant operating capacity levels, consumer confidence, and consumption/ spending levels,” wrote BMO Capital Markets analyst Jeremy Metz in a Tuesday note, “Simon may be better positioned than most; however, there will be tenant fallout and rents are ultimately a function of sales, and these are where the real risks lie.” He maintained a Hold rating on the stock with a $65 price target.
During Monday’s earnings report, Simon said its first-quarter net income dropped 20% from the year-period, to $437.6 million, or $1.43 per share. Funds from operations—a key metric to gauge the health of REITs—also fell nearly 9%, to $980.6 million, or $2.78 per share. Both numbers came in lower than analysts consensus, according to FactSet, which were at $1.56 and $2.90 per share, respectively. The mall owner has withdrawn its 2020 financial outlook amid elevated uncertainties.
Simon said some of its key retail tenants were unable to pay their monthly rent amid the lockdown, but didn’t disclose details. In an effort to save costs and stay liquid during the crisis, Simon said it has suspended or eliminated more than $1 billion of capital expenses on new projects, temporarily furloughed workers, and slashed executive pay.
Still, the company said it would commit to a quarterly dividend and fully expects its tenants to honor their lease commitments. The board will declare a second-quarter dividend before the end of June, CEO Simon said, and the dividend will be paid in cash. REITs are required to pay out at least 90% of their taxable income to shareholders.
“As a point of reference, there have been over 175 public companies who have either suspended or reduced their common stock dividend by 50% or more,” he added, “We will not be one of those companies.”
Corrections & Amplifications
Dillard’s did not file for bankruptcy protection last week. An earlier version of this article mistakenly said it did.
Write to Evie Liu at evie.liu@barrons.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Simon (ticker: SPG), a real estate investment trust, owns roughly 200 malls and outlet centers in the U.S., and it closed all of them temporarily on March 18 amid the Covid-19 lockdowns. In an effort to save costs and stay liquid during the crisis, Simon said it has suspended or eliminated more than $1 billion of capital expenses on new projects, temporarily furloughed workers, and slashed executive pay. “As a point of reference, there have been over 175 public companies who have either suspended or reduced their common stock dividend by 50% or more,” he added, “We will not be one of those companies.” Corrections & Amplifications Dillard’s did not file for bankruptcy protection last week.
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Simon Property Group saw its stock surge at Tuesday’s open after the biggest U.S. mall owner sent out encouraging messages: It plans to reopen half of its properties within the next week thanks to eased lockdown restrictions in many parts of the country. During its quarterlyearnings conference callwith analysts on Monday, Simon CEO David Simon said the company is leading the effort for local economies to get back to business. CEO Simon said the company is “encouraged by the consumer response thus far.” Shares in Simon Property surged over 9% at Tuesday’s open before falling to trade around 4% higher at $57.26.
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Simon Property Group saw its stock surge at Tuesday’s open after the biggest U.S. mall owner sent out encouraging messages: It plans to reopen half of its properties within the next week thanks to eased lockdown restrictions in many parts of the country. CEO Simon said the company is “encouraged by the consumer response thus far.” Shares in Simon Property surged over 9% at Tuesday’s open before falling to trade around 4% higher at $57.26. “It’s not just consumers returning, but also tenant operating capacity levels, consumer confidence, and consumption/ spending levels,” wrote BMO Capital Markets analyst Jeremy Metz in a Tuesday note, “Simon may be better positioned than most; however, there will be tenant fallout and rents are ultimately a function of sales, and these are where the real risks lie.” He maintained a Hold rating on the stock with a $65 price target.
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Analysts say more bankruptcies are on the way. During Monday’s earnings report, Simon said its first-quarter net income dropped 20% from the year-period, to $437.6 million, or $1.43 per share. Simon said some of its key retail tenants were unable to pay their monthly rent amid the lockdown, but didn’t disclose details.
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719551.0
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2020-04-06 00:00:00 UTC
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BUZZ-U.S. STOCKS ON THE MOVE-Carnival Corp, Capri Holdings, Kohl's, Immunomedics
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DDS
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https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-carnival-corp-capri-holdings-kohls-immunomedics-2020-04-06
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Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
The S&P 500 was on track to recoup about $1 trillion in market value in a frantic rally on Monday after New York, the biggest U.S. coronavirus hot spot, reported a fall in daily deaths, raising hopes that the pandemic could level-off soon. .N
At 12:33 ET, the Dow Jones Industrial Average .DJI was up 5.53% at 22,216.62. The S&P 500 .SPX was up 5.50% at 2,625.53 and the Nasdaq Composite .IXIC was up 5.42% at 7,772.803. The top three S&P 500 .PG.INX percentage gainers: ** Carnival Corp CCL.N, up 26.3% ** Capri Holdings Ltd CPRI.N, up 24.4% ** Kohl's Corp KSS.N, up 24.1% The top three S&P 500 .PL.INX percentage losers: ** Carrier Global Corp CARR.N, down 6.4% ** Robert half International RHI.N, down 4.1% ** Eog Resources EOG.N, down 2.2% The top three NYSE .PG.N percentage gainers: ** Cherry Hill Mortgage Investment CHMI.N, up 42.2% ** Wayfair Inc W.N, up 40.1% ** Dillard DDS.N, up 37.3% The top three NYSE .PL.N percentage losers: ** Vanguard US Multifactor Fund;ETF VFMF.N, down 31.6% ** Global X Founder-Run Companies ETF BOSS.N, down 26.8% ** Direxion Daily Semiconductor Bear 3XSOXS.N, down 23.2% The top Nasdaq .PG.O percentage gainers: ** Immunomedics IMMU.O, up 91.4% ** Akers Bioscience AKER.O, up 79.9% The top Nasdaq .PL.O percentage losers: ** Unico American UNAM.O, down 21% ** Luckin Coffe Inc LK.O, down 15.9% ** Spotify SPOT.N: down 0.6%
Spotify: Raymond James downgrades on coronavirus risks, shares fall ** Esperion Therapeutics ESPR.O: up 3.9%
Esperion: Up as cholesterol drug gets approval in Europe, co enters license deal ** Axsome Therapeutics AXSM.O: up 2.1%
Axsome Therapeutics: Rises after migraine drug meets main goals in late-stage study ** Netflix NFLX.O: up 2.8%
Netflix: SunTrust Robinson sees 9.5 mln more subscribers in Q1 ** Cisco Systems CSCO.O: up 4.3% ** Dell Technologies Inc DELL.N: up 6.1% ** Pure Storage PSTG.N: up 11.6% ** Hewlett Packard Enterprises HPE.N: up 7.7%
Raymond James cuts PTs of IT service providers ** Myriad Genetics MYGN.O: up 19.2%
Myriad Genetics: Rises after cancer test launch in Japan ** Capri Holdings CPRI.N: up 25.7%
Capri Holdings: Up after co furloughs N.America store staff, cuts salaries ** Akers Biosciences AKER.O: up 90.0%
Akers Biosciences jumps on progress in COVID-19 vaccine development ** HyreCar HYRE.O: up 23.0%
HyreCar surges on strong Q1 revenue forecast ** GW Pharma GWPH.O: up 3.9%
GW Pharma: Rises after seizure drug removed from controlled substance list ** Livent Corp LTHM.N: up 8.4%
Livent Corp jumps on resuming Argentina lithium production ** RH RH.N: up 11.8%
RH: Surges after announcing job cuts, cost savings ** Anworth Mortgage Asset Corp ANH.N: up 22.5%
Anworth Mortgage rallies as REIT reduces MBS borrowings; may delay dividend ** Hewlett Packard HPE.N: up 7.7%
Hewlett Packard withdraws FY20 outlook amid virus outbreak ** Immunomedics IMMU.O: up 92.6%
Immunomedics soars on compelling trial data on breast cancer drug ** Vir Biotech VIR.O: up 16.9%
Vir Biotech surges on GSK's $250 mln investment, deal for potential COVID-19 drug ** Advanced Micro Devices AMD.O: up 8.1% ** Applied Materials AMAT.O: up 9.4% ** Intel Corp INTC.O: up 5.8% ** Qualcomm Inc QCOM.O: up 7.0% ** Xilinx Inc XLNX.O: up 5.2% ** KLA Corp KLAC.O: up 11.6%
Nomura Instinet sees opportunity in semiconductors amid virus outbreak- TheFly.com ** Millendo Therapeutics MLND.O: down 69.5%
Millendo Therapeutics dives on scrapping drug trial for genetic illness ** Inovio Pharmaceuticals INO.O: up 8.9%
Inovio rises on FDA nod for COVID-19 vaccine clinical trial ** CVS Health Corp CVS.N: up 2.0% CVS Health Corp: Rises on launch of two new drive-through COVID-19 testing sites ** Menlo Therapeutics MNLO.O: down 47.1% Menlo: Falls as skin treatment trials fail to meet goals ** RedHill Biopharma RDHL.O: up 25.8% RedHill Biopharma: Rises after dosing first COVID-19 patient with cancer drug ** Gilead Sciences GILD.O: down 2.1% Gilead Sciences: Rises on plan to ramp up production of COVID-19 trial drug ** Textron Inc TXT.N: up 10.0% Textron's business jet deliveries could fall by 25% in 2020 on virus hit - Jefferies ** Zoom Video ZM.O: down 6.4% Zoom Video: Falls on report of school districts banning Zoom, CS downgrade ** Starbucks SBUX.O: up 4.5% Starbucks: Brokerage raises PT, sees possible boost as Chinese rival faces new challenges ** Co-Diagnostics CODX.O: up 30.1% Co-Diagnostics: Jumps after FDA allows emergency use of co's COVID-19 test ** XBiotech Inc XBIT.O: up 5.7% XBiotech: Jumps on collaboration to develop COVID-19 treatment ** Hilton Worldwide Holdings HLT.N: up 13.1% ** Wynn Resorts WYNN.O: up 14.7% ** Royal Caribbean Cruises RCL.N: up 17.8% ** Marriott International Inc MAR.O: up 17.4% ** Carnival Corp CCL.N: up 22.9% ** Norwegian Cruise Line Holdings NCLH.N: up 15.6% ** Booking Holdings BKNG.O: up 9.6% ** Expedia Group Inc EXPE.O: up 8.4% Travel and leisure stocks climb on hopes of virus slowdown ** Goldman Sachs GS.N: up 6.7% ** JPMorgan JPM.N: up 6.3% ** Citigroup Inc C.N: up 8.7% ** Wells Fargo WFC.N: up 8.0% ** Bank of America BAC.N: up 6.1% ** Morgan Stanley MS.N: up 8.1% U.S. big banks rise amid broad market gains, higher yields ** Hess Corp HES.N: up 4.9% Hess: JPM sees strong Q1 but warns of challenges from extended oil weakness ** Tesla Inc TSLA.O: up 6.4% Tesla Inc: Jefferies upgrades to "buy" on robust Q1 deliveries
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 5.04%
Consumer Discretionary
.SPLRCD
up 6.20%
Consumer Staples
.SPLRCS
up 3.00%
Energy
.SPNY
up 3.25%
Financial
.SPSY
up 6.32%
Health
.SPXHC
up 4.10%
Industrial
.SPLRCI
up 6.04%
Information Technology
.SPLRCT
up 6.14%
Materials
.SPLRCM
up 7.46%
Real Estate
.SPLRCR
up 6.84%
Utilities
.SPLRCU
up 8.00%
(Compiled by Sanjana Shivdas in Bengaluru)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Carnival Corp CCL.N, up 26.3% ** Capri Holdings Ltd CPRI.N, up 24.4% ** Kohl's Corp KSS.N, up 24.1% The top three S&P 500 .PL.INX percentage losers: ** Carrier Global Corp CARR.N, down 6.4% ** Robert half International RHI.N, down 4.1% ** Eog Resources EOG.N, down 2.2% The top three NYSE .PG.N percentage gainers: ** Cherry Hill Mortgage Investment CHMI.N, up 42.2% ** Wayfair Inc W.N, up 40.1% ** Dillard DDS.N, up 37.3% The top three NYSE .PL.N percentage losers: ** Vanguard US Multifactor Fund;ETF VFMF.N, down 31.6% ** Global X Founder-Run Companies ETF BOSS.N, down 26.8% ** Direxion Daily Semiconductor Bear 3XSOXS.N, down 23.2% The top Nasdaq .PG.O percentage gainers: ** Immunomedics IMMU.O, up 91.4% ** Akers Bioscience AKER.O, up 79.9% The top Nasdaq .PL.O percentage losers: ** Unico American UNAM.O, down 21% ** Luckin Coffe Inc LK.O, down 15.9% ** Spotify SPOT.N: down 0.6% Spotify: Raymond James downgrades on coronavirus risks, shares fall ** Esperion Therapeutics ESPR.O: up 3.9% Esperion: Up as cholesterol drug gets approval in Europe, co enters license deal ** Axsome Therapeutics AXSM.O: up 2.1% Axsome Therapeutics: Rises after migraine drug meets main goals in late-stage study ** Netflix NFLX.O: up 2.8% Netflix: SunTrust Robinson sees 9.5 mln more subscribers in Q1 ** Cisco Systems CSCO.O: up 4.3% ** Dell Technologies Inc DELL.N: up 6.1% ** Pure Storage PSTG.N: up 11.6% ** Hewlett Packard Enterprises HPE.N: up 7.7% Raymond James cuts PTs of IT service providers ** Myriad Genetics MYGN.O: up 19.2% Myriad Genetics: Rises after cancer test launch in Japan ** Capri Holdings CPRI.N: up 25.7% Capri Holdings: Up after co furloughs N.America store staff, cuts salaries ** Akers Biosciences AKER.O: up 90.0% Akers Biosciences jumps on progress in COVID-19 vaccine development ** HyreCar HYRE.O: up 23.0% HyreCar surges on strong Q1 revenue forecast ** GW Pharma GWPH.O: up 3.9% GW Pharma: Rises after seizure drug removed from controlled substance list ** Livent Corp LTHM.N: up 8.4% Livent Corp jumps on resuming Argentina lithium production ** RH RH.N: up 11.8% RH: Surges after announcing job cuts, cost savings ** Anworth Mortgage Asset Corp ANH.N: up 22.5% Anworth Mortgage rallies as REIT reduces MBS borrowings; may delay dividend ** Hewlett Packard HPE.N: up 7.7% Hewlett Packard withdraws FY20 outlook amid virus outbreak ** Immunomedics IMMU.O: up 92.6% Immunomedics soars on compelling trial data on breast cancer drug ** Vir Biotech VIR.O: up 16.9% Vir Biotech surges on GSK's $250 mln investment, deal for potential COVID-19 drug ** Advanced Micro Devices AMD.O: up 8.1% ** Applied Materials AMAT.O: up 9.4% ** Intel Corp INTC.O: up 5.8% ** Qualcomm Inc QCOM.O: up 7.0% ** Xilinx Inc XLNX.O: up 5.2% ** KLA Corp KLAC.O: up 11.6% Nomura Instinet sees opportunity in semiconductors amid virus outbreak- TheFly.com ** Millendo Therapeutics MLND.O: down 69.5% Millendo Therapeutics dives on scrapping drug trial for genetic illness ** Inovio Pharmaceuticals INO.O: up 8.9% Inovio rises on FDA nod for COVID-19 vaccine clinical trial ** CVS Health Corp CVS.N: up 2.0% CVS Health Corp: Rises on launch of two new drive-through COVID-19 testing sites ** Menlo Therapeutics MNLO.O: down 47.1% Menlo: Falls as skin treatment trials fail to meet goals ** RedHill Biopharma RDHL.O: up 25.8% RedHill Biopharma: Rises after dosing first COVID-19 patient with cancer drug ** Gilead Sciences GILD.O: down 2.1% Gilead Sciences: Rises on plan to ramp up production of COVID-19 trial drug ** Textron Inc TXT.N: up 10.0% Textron's business jet deliveries could fall by 25% in 2020 on virus hit - Jefferies ** Zoom Video ZM.O: down 6.4% Zoom Video: Falls on report of school districts banning Zoom, CS downgrade ** Starbucks SBUX.O: up 4.5% Starbucks: Brokerage raises PT, sees possible boost as Chinese rival faces new challenges ** Co-Diagnostics CODX.O: up 30.1% Co-Diagnostics: Jumps after FDA allows emergency use of co's COVID-19 test ** XBiotech Inc XBIT.O: up 5.7% XBiotech: Jumps on collaboration to develop COVID-19 treatment ** Hilton Worldwide Holdings HLT.N: up 13.1% ** Wynn Resorts WYNN.O: up 14.7% ** Royal Caribbean Cruises RCL.N: up 17.8% ** Marriott International Inc MAR.O: up 17.4% ** Carnival Corp CCL.N: up 22.9% ** Norwegian Cruise Line Holdings NCLH.N: up 15.6% ** Booking Holdings BKNG.O: up 9.6% ** Expedia Group Inc EXPE.O: up 8.4% Travel and leisure stocks climb on hopes of virus slowdown ** Goldman Sachs GS.N: up 6.7% ** JPMorgan JPM.N: up 6.3% ** Citigroup Inc C.N: up 8.7% ** Wells Fargo WFC.N: up 8.0% ** Bank of America BAC.N: up 6.1% ** Morgan Stanley MS.N: up 8.1% U.S. big banks rise amid broad market gains, higher yields ** Hess Corp HES.N: up 4.9% Hess: JPM sees strong Q1 but warns of challenges from extended oil weakness ** Tesla Inc TSLA.O: up 6.4% Tesla Inc: Jefferies upgrades to "buy" on robust Q1 deliveries The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 was on track to recoup about $1 trillion in market value in a frantic rally on Monday after New York, the biggest U.S. coronavirus hot spot, reported a fall in daily deaths, raising hopes that the pandemic could level-off soon. up 8.00% (Compiled by Sanjana Shivdas in Bengaluru) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Carnival Corp CCL.N, up 26.3% ** Capri Holdings Ltd CPRI.N, up 24.4% ** Kohl's Corp KSS.N, up 24.1% The top three S&P 500 .PL.INX percentage losers: ** Carrier Global Corp CARR.N, down 6.4% ** Robert half International RHI.N, down 4.1% ** Eog Resources EOG.N, down 2.2% The top three NYSE .PG.N percentage gainers: ** Cherry Hill Mortgage Investment CHMI.N, up 42.2% ** Wayfair Inc W.N, up 40.1% ** Dillard DDS.N, up 37.3% The top three NYSE .PL.N percentage losers: ** Vanguard US Multifactor Fund;ETF VFMF.N, down 31.6% ** Global X Founder-Run Companies ETF BOSS.N, down 26.8% ** Direxion Daily Semiconductor Bear 3XSOXS.N, down 23.2% The top Nasdaq .PG.O percentage gainers: ** Immunomedics IMMU.O, up 91.4% ** Akers Bioscience AKER.O, up 79.9% The top Nasdaq .PL.O percentage losers: ** Unico American UNAM.O, down 21% ** Luckin Coffe Inc LK.O, down 15.9% ** Spotify SPOT.N: down 0.6% Spotify: Raymond James downgrades on coronavirus risks, shares fall ** Esperion Therapeutics ESPR.O: up 3.9% Esperion: Up as cholesterol drug gets approval in Europe, co enters license deal ** Axsome Therapeutics AXSM.O: up 2.1% Axsome Therapeutics: Rises after migraine drug meets main goals in late-stage study ** Netflix NFLX.O: up 2.8% Netflix: SunTrust Robinson sees 9.5 mln more subscribers in Q1 ** Cisco Systems CSCO.O: up 4.3% ** Dell Technologies Inc DELL.N: up 6.1% ** Pure Storage PSTG.N: up 11.6% ** Hewlett Packard Enterprises HPE.N: up 7.7% Raymond James cuts PTs of IT service providers ** Myriad Genetics MYGN.O: up 19.2% Myriad Genetics: Rises after cancer test launch in Japan ** Capri Holdings CPRI.N: up 25.7% Capri Holdings: Up after co furloughs N.America store staff, cuts salaries ** Akers Biosciences AKER.O: up 90.0% Akers Biosciences jumps on progress in COVID-19 vaccine development ** HyreCar HYRE.O: up 23.0% HyreCar surges on strong Q1 revenue forecast ** GW Pharma GWPH.O: up 3.9% GW Pharma: Rises after seizure drug removed from controlled substance list ** Livent Corp LTHM.N: up 8.4% Livent Corp jumps on resuming Argentina lithium production ** RH RH.N: up 11.8% RH: Surges after announcing job cuts, cost savings ** Anworth Mortgage Asset Corp ANH.N: up 22.5% Anworth Mortgage rallies as REIT reduces MBS borrowings; may delay dividend ** Hewlett Packard HPE.N: up 7.7% Hewlett Packard withdraws FY20 outlook amid virus outbreak ** Immunomedics IMMU.O: up 92.6% Immunomedics soars on compelling trial data on breast cancer drug ** Vir Biotech VIR.O: up 16.9% Vir Biotech surges on GSK's $250 mln investment, deal for potential COVID-19 drug ** Advanced Micro Devices AMD.O: up 8.1% ** Applied Materials AMAT.O: up 9.4% ** Intel Corp INTC.O: up 5.8% ** Qualcomm Inc QCOM.O: up 7.0% ** Xilinx Inc XLNX.O: up 5.2% ** KLA Corp KLAC.O: up 11.6% Nomura Instinet sees opportunity in semiconductors amid virus outbreak- TheFly.com ** Millendo Therapeutics MLND.O: down 69.5% Millendo Therapeutics dives on scrapping drug trial for genetic illness ** Inovio Pharmaceuticals INO.O: up 8.9% Inovio rises on FDA nod for COVID-19 vaccine clinical trial ** CVS Health Corp CVS.N: up 2.0% CVS Health Corp: Rises on launch of two new drive-through COVID-19 testing sites ** Menlo Therapeutics MNLO.O: down 47.1% Menlo: Falls as skin treatment trials fail to meet goals ** RedHill Biopharma RDHL.O: up 25.8% RedHill Biopharma: Rises after dosing first COVID-19 patient with cancer drug ** Gilead Sciences GILD.O: down 2.1% Gilead Sciences: Rises on plan to ramp up production of COVID-19 trial drug ** Textron Inc TXT.N: up 10.0% Textron's business jet deliveries could fall by 25% in 2020 on virus hit - Jefferies ** Zoom Video ZM.O: down 6.4% Zoom Video: Falls on report of school districts banning Zoom, CS downgrade ** Starbucks SBUX.O: up 4.5% Starbucks: Brokerage raises PT, sees possible boost as Chinese rival faces new challenges ** Co-Diagnostics CODX.O: up 30.1% Co-Diagnostics: Jumps after FDA allows emergency use of co's COVID-19 test ** XBiotech Inc XBIT.O: up 5.7% XBiotech: Jumps on collaboration to develop COVID-19 treatment ** Hilton Worldwide Holdings HLT.N: up 13.1% ** Wynn Resorts WYNN.O: up 14.7% ** Royal Caribbean Cruises RCL.N: up 17.8% ** Marriott International Inc MAR.O: up 17.4% ** Carnival Corp CCL.N: up 22.9% ** Norwegian Cruise Line Holdings NCLH.N: up 15.6% ** Booking Holdings BKNG.O: up 9.6% ** Expedia Group Inc EXPE.O: up 8.4% Travel and leisure stocks climb on hopes of virus slowdown ** Goldman Sachs GS.N: up 6.7% ** JPMorgan JPM.N: up 6.3% ** Citigroup Inc C.N: up 8.7% ** Wells Fargo WFC.N: up 8.0% ** Bank of America BAC.N: up 6.1% ** Morgan Stanley MS.N: up 8.1% U.S. big banks rise amid broad market gains, higher yields ** Hess Corp HES.N: up 4.9% Hess: JPM sees strong Q1 but warns of challenges from extended oil weakness ** Tesla Inc TSLA.O: up 6.4% Tesla Inc: Jefferies upgrades to "buy" on robust Q1 deliveries The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 was on track to recoup about $1 trillion in market value in a frantic rally on Monday after New York, the biggest U.S. coronavirus hot spot, reported a fall in daily deaths, raising hopes that the pandemic could level-off soon. up 8.00% (Compiled by Sanjana Shivdas in Bengaluru) ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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The top three S&P 500 .PG.INX percentage gainers: ** Carnival Corp CCL.N, up 26.3% ** Capri Holdings Ltd CPRI.N, up 24.4% ** Kohl's Corp KSS.N, up 24.1% The top three S&P 500 .PL.INX percentage losers: ** Carrier Global Corp CARR.N, down 6.4% ** Robert half International RHI.N, down 4.1% ** Eog Resources EOG.N, down 2.2% The top three NYSE .PG.N percentage gainers: ** Cherry Hill Mortgage Investment CHMI.N, up 42.2% ** Wayfair Inc W.N, up 40.1% ** Dillard DDS.N, up 37.3% The top three NYSE .PL.N percentage losers: ** Vanguard US Multifactor Fund;ETF VFMF.N, down 31.6% ** Global X Founder-Run Companies ETF BOSS.N, down 26.8% ** Direxion Daily Semiconductor Bear 3XSOXS.N, down 23.2% The top Nasdaq .PG.O percentage gainers: ** Immunomedics IMMU.O, up 91.4% ** Akers Bioscience AKER.O, up 79.9% The top Nasdaq .PL.O percentage losers: ** Unico American UNAM.O, down 21% ** Luckin Coffe Inc LK.O, down 15.9% ** Spotify SPOT.N: down 0.6% Spotify: Raymond James downgrades on coronavirus risks, shares fall ** Esperion Therapeutics ESPR.O: up 3.9% Esperion: Up as cholesterol drug gets approval in Europe, co enters license deal ** Axsome Therapeutics AXSM.O: up 2.1% Axsome Therapeutics: Rises after migraine drug meets main goals in late-stage study ** Netflix NFLX.O: up 2.8% Netflix: SunTrust Robinson sees 9.5 mln more subscribers in Q1 ** Cisco Systems CSCO.O: up 4.3% ** Dell Technologies Inc DELL.N: up 6.1% ** Pure Storage PSTG.N: up 11.6% ** Hewlett Packard Enterprises HPE.N: up 7.7% Raymond James cuts PTs of IT service providers ** Myriad Genetics MYGN.O: up 19.2% Myriad Genetics: Rises after cancer test launch in Japan ** Capri Holdings CPRI.N: up 25.7% Capri Holdings: Up after co furloughs N.America store staff, cuts salaries ** Akers Biosciences AKER.O: up 90.0% Akers Biosciences jumps on progress in COVID-19 vaccine development ** HyreCar HYRE.O: up 23.0% HyreCar surges on strong Q1 revenue forecast ** GW Pharma GWPH.O: up 3.9% GW Pharma: Rises after seizure drug removed from controlled substance list ** Livent Corp LTHM.N: up 8.4% Livent Corp jumps on resuming Argentina lithium production ** RH RH.N: up 11.8% RH: Surges after announcing job cuts, cost savings ** Anworth Mortgage Asset Corp ANH.N: up 22.5% Anworth Mortgage rallies as REIT reduces MBS borrowings; may delay dividend ** Hewlett Packard HPE.N: up 7.7% Hewlett Packard withdraws FY20 outlook amid virus outbreak ** Immunomedics IMMU.O: up 92.6% Immunomedics soars on compelling trial data on breast cancer drug ** Vir Biotech VIR.O: up 16.9% Vir Biotech surges on GSK's $250 mln investment, deal for potential COVID-19 drug ** Advanced Micro Devices AMD.O: up 8.1% ** Applied Materials AMAT.O: up 9.4% ** Intel Corp INTC.O: up 5.8% ** Qualcomm Inc QCOM.O: up 7.0% ** Xilinx Inc XLNX.O: up 5.2% ** KLA Corp KLAC.O: up 11.6% Nomura Instinet sees opportunity in semiconductors amid virus outbreak- TheFly.com ** Millendo Therapeutics MLND.O: down 69.5% Millendo Therapeutics dives on scrapping drug trial for genetic illness ** Inovio Pharmaceuticals INO.O: up 8.9% Inovio rises on FDA nod for COVID-19 vaccine clinical trial ** CVS Health Corp CVS.N: up 2.0% CVS Health Corp: Rises on launch of two new drive-through COVID-19 testing sites ** Menlo Therapeutics MNLO.O: down 47.1% Menlo: Falls as skin treatment trials fail to meet goals ** RedHill Biopharma RDHL.O: up 25.8% RedHill Biopharma: Rises after dosing first COVID-19 patient with cancer drug ** Gilead Sciences GILD.O: down 2.1% Gilead Sciences: Rises on plan to ramp up production of COVID-19 trial drug ** Textron Inc TXT.N: up 10.0% Textron's business jet deliveries could fall by 25% in 2020 on virus hit - Jefferies ** Zoom Video ZM.O: down 6.4% Zoom Video: Falls on report of school districts banning Zoom, CS downgrade ** Starbucks SBUX.O: up 4.5% Starbucks: Brokerage raises PT, sees possible boost as Chinese rival faces new challenges ** Co-Diagnostics CODX.O: up 30.1% Co-Diagnostics: Jumps after FDA allows emergency use of co's COVID-19 test ** XBiotech Inc XBIT.O: up 5.7% XBiotech: Jumps on collaboration to develop COVID-19 treatment ** Hilton Worldwide Holdings HLT.N: up 13.1% ** Wynn Resorts WYNN.O: up 14.7% ** Royal Caribbean Cruises RCL.N: up 17.8% ** Marriott International Inc MAR.O: up 17.4% ** Carnival Corp CCL.N: up 22.9% ** Norwegian Cruise Line Holdings NCLH.N: up 15.6% ** Booking Holdings BKNG.O: up 9.6% ** Expedia Group Inc EXPE.O: up 8.4% Travel and leisure stocks climb on hopes of virus slowdown ** Goldman Sachs GS.N: up 6.7% ** JPMorgan JPM.N: up 6.3% ** Citigroup Inc C.N: up 8.7% ** Wells Fargo WFC.N: up 8.0% ** Bank of America BAC.N: up 6.1% ** Morgan Stanley MS.N: up 8.1% U.S. big banks rise amid broad market gains, higher yields ** Hess Corp HES.N: up 4.9% Hess: JPM sees strong Q1 but warns of challenges from extended oil weakness ** Tesla Inc TSLA.O: up 6.4% Tesla Inc: Jefferies upgrades to "buy" on robust Q1 deliveries The 11 major S&P 500 sectors: Communication Services .N At 12:33 ET, the Dow Jones Industrial Average .DJI was up 5.53% at 22,216.62. up 5.04% Consumer Discretionary
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The top three S&P 500 .PG.INX percentage gainers: ** Carnival Corp CCL.N, up 26.3% ** Capri Holdings Ltd CPRI.N, up 24.4% ** Kohl's Corp KSS.N, up 24.1% The top three S&P 500 .PL.INX percentage losers: ** Carrier Global Corp CARR.N, down 6.4% ** Robert half International RHI.N, down 4.1% ** Eog Resources EOG.N, down 2.2% The top three NYSE .PG.N percentage gainers: ** Cherry Hill Mortgage Investment CHMI.N, up 42.2% ** Wayfair Inc W.N, up 40.1% ** Dillard DDS.N, up 37.3% The top three NYSE .PL.N percentage losers: ** Vanguard US Multifactor Fund;ETF VFMF.N, down 31.6% ** Global X Founder-Run Companies ETF BOSS.N, down 26.8% ** Direxion Daily Semiconductor Bear 3XSOXS.N, down 23.2% The top Nasdaq .PG.O percentage gainers: ** Immunomedics IMMU.O, up 91.4% ** Akers Bioscience AKER.O, up 79.9% The top Nasdaq .PL.O percentage losers: ** Unico American UNAM.O, down 21% ** Luckin Coffe Inc LK.O, down 15.9% ** Spotify SPOT.N: down 0.6% Spotify: Raymond James downgrades on coronavirus risks, shares fall ** Esperion Therapeutics ESPR.O: up 3.9% Esperion: Up as cholesterol drug gets approval in Europe, co enters license deal ** Axsome Therapeutics AXSM.O: up 2.1% Axsome Therapeutics: Rises after migraine drug meets main goals in late-stage study ** Netflix NFLX.O: up 2.8% Netflix: SunTrust Robinson sees 9.5 mln more subscribers in Q1 ** Cisco Systems CSCO.O: up 4.3% ** Dell Technologies Inc DELL.N: up 6.1% ** Pure Storage PSTG.N: up 11.6% ** Hewlett Packard Enterprises HPE.N: up 7.7% Raymond James cuts PTs of IT service providers ** Myriad Genetics MYGN.O: up 19.2% Myriad Genetics: Rises after cancer test launch in Japan ** Capri Holdings CPRI.N: up 25.7% Capri Holdings: Up after co furloughs N.America store staff, cuts salaries ** Akers Biosciences AKER.O: up 90.0% Akers Biosciences jumps on progress in COVID-19 vaccine development ** HyreCar HYRE.O: up 23.0% HyreCar surges on strong Q1 revenue forecast ** GW Pharma GWPH.O: up 3.9% GW Pharma: Rises after seizure drug removed from controlled substance list ** Livent Corp LTHM.N: up 8.4% Livent Corp jumps on resuming Argentina lithium production ** RH RH.N: up 11.8% RH: Surges after announcing job cuts, cost savings ** Anworth Mortgage Asset Corp ANH.N: up 22.5% Anworth Mortgage rallies as REIT reduces MBS borrowings; may delay dividend ** Hewlett Packard HPE.N: up 7.7% Hewlett Packard withdraws FY20 outlook amid virus outbreak ** Immunomedics IMMU.O: up 92.6% Immunomedics soars on compelling trial data on breast cancer drug ** Vir Biotech VIR.O: up 16.9% Vir Biotech surges on GSK's $250 mln investment, deal for potential COVID-19 drug ** Advanced Micro Devices AMD.O: up 8.1% ** Applied Materials AMAT.O: up 9.4% ** Intel Corp INTC.O: up 5.8% ** Qualcomm Inc QCOM.O: up 7.0% ** Xilinx Inc XLNX.O: up 5.2% ** KLA Corp KLAC.O: up 11.6% Nomura Instinet sees opportunity in semiconductors amid virus outbreak- TheFly.com ** Millendo Therapeutics MLND.O: down 69.5% Millendo Therapeutics dives on scrapping drug trial for genetic illness ** Inovio Pharmaceuticals INO.O: up 8.9% Inovio rises on FDA nod for COVID-19 vaccine clinical trial ** CVS Health Corp CVS.N: up 2.0% CVS Health Corp: Rises on launch of two new drive-through COVID-19 testing sites ** Menlo Therapeutics MNLO.O: down 47.1% Menlo: Falls as skin treatment trials fail to meet goals ** RedHill Biopharma RDHL.O: up 25.8% RedHill Biopharma: Rises after dosing first COVID-19 patient with cancer drug ** Gilead Sciences GILD.O: down 2.1% Gilead Sciences: Rises on plan to ramp up production of COVID-19 trial drug ** Textron Inc TXT.N: up 10.0% Textron's business jet deliveries could fall by 25% in 2020 on virus hit - Jefferies ** Zoom Video ZM.O: down 6.4% Zoom Video: Falls on report of school districts banning Zoom, CS downgrade ** Starbucks SBUX.O: up 4.5% Starbucks: Brokerage raises PT, sees possible boost as Chinese rival faces new challenges ** Co-Diagnostics CODX.O: up 30.1% Co-Diagnostics: Jumps after FDA allows emergency use of co's COVID-19 test ** XBiotech Inc XBIT.O: up 5.7% XBiotech: Jumps on collaboration to develop COVID-19 treatment ** Hilton Worldwide Holdings HLT.N: up 13.1% ** Wynn Resorts WYNN.O: up 14.7% ** Royal Caribbean Cruises RCL.N: up 17.8% ** Marriott International Inc MAR.O: up 17.4% ** Carnival Corp CCL.N: up 22.9% ** Norwegian Cruise Line Holdings NCLH.N: up 15.6% ** Booking Holdings BKNG.O: up 9.6% ** Expedia Group Inc EXPE.O: up 8.4% Travel and leisure stocks climb on hopes of virus slowdown ** Goldman Sachs GS.N: up 6.7% ** JPMorgan JPM.N: up 6.3% ** Citigroup Inc C.N: up 8.7% ** Wells Fargo WFC.N: up 8.0% ** Bank of America BAC.N: up 6.1% ** Morgan Stanley MS.N: up 8.1% U.S. big banks rise amid broad market gains, higher yields ** Hess Corp HES.N: up 4.9% Hess: JPM sees strong Q1 but warns of challenges from extended oil weakness ** Tesla Inc TSLA.O: up 6.4% Tesla Inc: Jefferies upgrades to "buy" on robust Q1 deliveries The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh The S&P 500 was on track to recoup about $1 trillion in market value in a frantic rally on Monday after New York, the biggest U.S. coronavirus hot spot, reported a fall in daily deaths, raising hopes that the pandemic could level-off soon. .N At 12:33 ET, the Dow Jones Industrial Average .DJI was up 5.53% at 22,216.62.
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59f34db8-cd7a-4e52-8cd2-61601f55c8b4
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719552.0
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2020-04-01 00:00:00 UTC
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Why Investors Are Selling Shares of These Brick-and-Mortar Retailers
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DDS
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https://www.nasdaq.com/articles/why-investors-are-selling-shares-of-these-brick-and-mortar-retailers-2020-04-01
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nan
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nan
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What happened
Shares of brick-and-mortar retail chains were dropping sharply on Wednesday, with many down by double digits, after a series of downgrades following a brutal second half of March. Nearly all department stores in the U.S. and Canada have been closed since mid-March as health authorities work to contain the COVID-19 pandemic.
Here's where things stood for shares of these four companies as of 3:30 p.m. EDT:
Dillard's (NYSE: DDS) was down 24.4%.
Gap (NYSE: GPS) was down 17.6%.
Kohl's (NYSE: KSS) was down 11.9%.
Macy's (NYSE: M) was down 9.3%.
So what
The stories with these four stocks vary, but there's a common theme: All of the companies operate extensive chains of brick-and-mortar retail stores, nearly all of those stores are closed for the foreseeable future, and all of them are now reeling from sudden, steep declines in revenue.
Here are the latest developments on each:
Dillard's credit rating was cut to BB from BBB- by Fitch Ratings on Wednesday morning, with a negative outlook. With stores closed and the economy disrupted, Fitch expects Dillard's revenue in the current fiscal year to be down about 20% from fiscal 2019. Fitch's analysts noted that Dillard's had $227 million in cash as of Feb 1., as well as an additional $779 million available via its existing credit facility, and no major debt payments until early 2023; it should have enough to ride out the pandemic and the recession that's likely to follow.
Gap's shares continued to fall after the company said on Monday that it is furloughing most of its store teams in the U.S. and Canada -- over 80,000 employees in all. While those employees won't be paid until stores reopen, those that had healthcare benefits before stores closed will continue to receive them, Gap said. The company has about $1.7 billion in cash -- likely enough to get through the pandemic and the aftermath.
Kohl's credit rating was also cut by Fitch, to BBB- from BBB, with a negative outlook. Fitch's analysts also expect Kohl's revenue to drop about 20% this year, but note that with $1.7 billion in cash, the company has ample liquidity to ride out the pandemic and its likely economic aftermath.
Macy's credit rating was cut by Fitch as well, to BB+ from BBB-, with a negative outlook. Fitch expects Macy's revenue to decline nearly 25% in 2020, to $19.2 billion. Macy's ended 2019 with $685 million in cash and recently drew down its $1.5 billion line of credit; Fitch's analysts believe that it has sufficient liquidity to get through the downturn.
Image source: Macy's.
Now what
For investors who understand retail, none of this should be surprising, but it is sobering. At this point, all four companies are in survival mode, cutting costs and trying to stretch their cash reserves until they can reopen stores and ramp up sales.
The good news is that all four companies probably have sufficient cash to get through the crisis. The not-as-good news is that they'll have much less cash -- and uncertain prospects -- when we finally enter the post-coronavirus world.
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John Rosevear has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Here's where things stood for shares of these four companies as of 3:30 p.m. EDT: Dillard's (NYSE: DDS) was down 24.4%. What happened Shares of brick-and-mortar retail chains were dropping sharply on Wednesday, with many down by double digits, after a series of downgrades following a brutal second half of March. Fitch's analysts also expect Kohl's revenue to drop about 20% this year, but note that with $1.7 billion in cash, the company has ample liquidity to ride out the pandemic and its likely economic aftermath.
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Here's where things stood for shares of these four companies as of 3:30 p.m. EDT: Dillard's (NYSE: DDS) was down 24.4%. Here are the latest developments on each: Dillard's credit rating was cut to BB from BBB- by Fitch Ratings on Wednesday morning, with a negative outlook. With stores closed and the economy disrupted, Fitch expects Dillard's revenue in the current fiscal year to be down about 20% from fiscal 2019.
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Here's where things stood for shares of these four companies as of 3:30 p.m. EDT: Dillard's (NYSE: DDS) was down 24.4%. So what The stories with these four stocks vary, but there's a common theme: All of the companies operate extensive chains of brick-and-mortar retail stores, nearly all of those stores are closed for the foreseeable future, and all of them are now reeling from sudden, steep declines in revenue. Fitch's analysts also expect Kohl's revenue to drop about 20% this year, but note that with $1.7 billion in cash, the company has ample liquidity to ride out the pandemic and its likely economic aftermath.
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Here's where things stood for shares of these four companies as of 3:30 p.m. EDT: Dillard's (NYSE: DDS) was down 24.4%. While those employees won't be paid until stores reopen, those that had healthcare benefits before stores closed will continue to receive them, Gap said. The company has about $1.7 billion in cash -- likely enough to get through the pandemic and the aftermath.
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7646ab84-1d93-4482-80c3-6fd3fdc53563
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719553.0
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2020-03-24 00:00:00 UTC
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Shrugging Off COVID-19, Some Dillard's Department Stores Remain Open
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DDS
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https://www.nasdaq.com/articles/shrugging-off-covid-19-some-dillards-department-stores-remain-open-2020-03-24
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nan
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nan
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Although nearly all of its rivals, including Macy's (NYSE: M) and Kohl's (NYSE: KSS), have shuttered stores in an effort to contain and avoid the coronavirus outbreak, Dillard's (NYSE: DDS) isn't deterred. In locations where it's still permitted, its department stores remain open for business.
The number of its nearly 300 locales still in operation isn't entirely clear. CNBC cited an email from the company on Tuesday only indicating, "We are open with limited hours where not ordered to close by state or local government mandate." That note went on to assure the public, "We are promptly cooperating with any such actions." Many malls have also outright closed their doors until the pandemic is abated, effectively forcing the closure of even their big anchor stores as a result. Simon Property Group (NYSE: SPG), which operates more than 200 total retail properties, is one of those mall owners that's opted to sidestep the outbreak by temporarily closing its indoor shopping venues.
Image Source: Getty Images.
Even the temporary closure of its host mall hasn't necessarily prevented a Dillard's store from remaining open, however. For instance, Simon-owned Battlefield Mall in Springfield, Missouri, may have been mothballed last week, but because its Dillard's has its own entrances, the store has remained open and accessible.
And yes, employees report there are still customers in stores, shopping, though presumably foot traffic is light.
Still, the department store chain is aware of the potential to be a place where the coronavirus can be passed from one person to another. Dillard's employees at least in its Battlefield Mall store are not required to work if they don't feel comfortable doing so.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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*Stock Advisor returns as of March 18, 2020
James Brumley has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Although nearly all of its rivals, including Macy's (NYSE: M) and Kohl's (NYSE: KSS), have shuttered stores in an effort to contain and avoid the coronavirus outbreak, Dillard's (NYSE: DDS) isn't deterred. CNBC cited an email from the company on Tuesday only indicating, "We are open with limited hours where not ordered to close by state or local government mandate." Many malls have also outright closed their doors until the pandemic is abated, effectively forcing the closure of even their big anchor stores as a result.
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Although nearly all of its rivals, including Macy's (NYSE: M) and Kohl's (NYSE: KSS), have shuttered stores in an effort to contain and avoid the coronavirus outbreak, Dillard's (NYSE: DDS) isn't deterred. In locations where it's still permitted, its department stores remain open for business. Even the temporary closure of its host mall hasn't necessarily prevented a Dillard's store from remaining open, however.
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Although nearly all of its rivals, including Macy's (NYSE: M) and Kohl's (NYSE: KSS), have shuttered stores in an effort to contain and avoid the coronavirus outbreak, Dillard's (NYSE: DDS) isn't deterred. Even the temporary closure of its host mall hasn't necessarily prevented a Dillard's store from remaining open, however. See the 10 stocks *Stock Advisor returns as of March 18, 2020 James Brumley has no position in any of the stocks mentioned.
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Although nearly all of its rivals, including Macy's (NYSE: M) and Kohl's (NYSE: KSS), have shuttered stores in an effort to contain and avoid the coronavirus outbreak, Dillard's (NYSE: DDS) isn't deterred. In locations where it's still permitted, its department stores remain open for business. Even the temporary closure of its host mall hasn't necessarily prevented a Dillard's store from remaining open, however.
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5e85394e-2998-41a4-a32c-5cd1cf3db8ef
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719554.0
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2020-03-03 00:00:00 UTC
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Amid Unexpected Profit, Can JCPenney Avoid Bankruptcy?
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DDS
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https://www.nasdaq.com/articles/amid-unexpected-profit-can-jcpenney-avoid-bankruptcy-2020-03-03
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nan
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nan
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Some investors saw signs of hope for JCPenney (NYSE: JCP) last week after the retailer reported an unexpected profit and positive free cash flow in its fiscal fourth quarter. But the stock still sold off following the news, continuing the slide that began soon after it announced lower comparable-store sales during the holiday shopping season.
Now, with the stock trading under $1 for more than a month, the retailer faces the threat of a delisting from the New York Stock Exchange. Although JCPenney could still forge a path forward, that path looks less likely to include current investors.
JCPenney beat earnings, reported positive cash flow
JCPenney offered better-than-expected news in its fiscal fourth quarter, which ended Feb. 2. Total quarterly revenue fell to $3.493 billion, 7.7% lower than the $3.786 billion for the same quarter the year before. Still, the company turned an unexpected profit as it reported adjusted net income (that is, not using generally accepted accounting principles) of $0.13 per share. This was $0.21 per share ahead of estimates but down from earnings of $0.18 per share in the year-ago quarter.
The unexpected net profit may give bulls some hope, and the company reported $145 million in free cash flow for the full fiscal year. That number would have been positive even without the $26 million generated from the sale of operating assets. In its financial guidance for the new year, the company also forecasts positive free cash flow and an increase of between 5% and 10% in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization).
Image source: Getty Images.
Still, one positive report does not a recovery make. Despite the surprise earnings beat, JCPenney stock sold off in the following trading session, falling to $0.69 per share, a loss of 5%. Some have speculated about whether the retailer can survive the decade. Among its mall-based counterparts, Sears Holdings has already declared bankruptcy. Many have also forecasted similar troubles for consumer discretionary retailers such as Macy's and Dillard's.
JCPenney's stock remains compromised
The stock has little margin for error. It helps that JCPenney unexpectedly turned a profit. Still, it was the quarter of the Christmas shopping season. It was also the only quarter during the fiscal year to see positive earnings. The earnings report offered no help in getting the stock above the critical $1 per share level. As a result, the company may have to institute a reverse split to continue trading on the NYSE -- in other words, it would reduce its share count to increase its share price.
The slide continues as the company announces it will close at least six stores in 2020. Moreover, long-term debt decreased slightly to $3.574 billion. Still, with only $829 million in stockholders' equity and a market cap of just under $221.7 million at the time of this writing, debt remains a serious challenge. JCPenney has hired investment bank Lazard to explore debt management strategies. However, CEO Jill Soltau has denied that its advisors are looking at a bankruptcy filing.
Furthermore, these numbers did not account for any possible impact from coronavirus (COVID-19). Investors should expect a significant effect as coronavirus has caused supply-chain disruptions from China. Also, the virus could slow overall economic activity, something JCPenney can ill afford in its condition.
A turnaround looks less likely to help investors
JCPenney holds $386 million in cash and short-term investments. Nonetheless, with losses for the fiscal year amounting to $257 million, it will have to find a new source of funding in the foreseeable future or look again at its debt.
Bankruptcy might offer the company a second chance. JCPenney still owns 850 stores across the country. Moreover, many credit Soltau with helping to lead a turnaround in her nearly four years as CEO of privately held Jo-Ann. The company also pointed to "progress" in the women's apparel business. While investors may later demand that management offer more specifics, it could lead to a possible avenue for JCPenney to continue to exist in some form. Unfortunately for shareholders, orchestrating such a revival in bankruptcy offers stock investors no benefit.
JCPenney turned an unexpected profit, and apparel sales and positive cash flow gave bulls some sense of optimism. However, with the company set to face more losses, the effects of coronavirus, and the actions necessary to prevent a delisting, the path forward for JCPenney stock appears increasingly bleak. Though the CEO could orchestrate a revival for the company, it looks increasingly unlikely that such a turnaround would benefit current shareholders.
10 stocks we like better than J.C. Penney
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and J.C. Penney wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of December 1, 2019
Will Healy has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Some investors saw signs of hope for JCPenney (NYSE: JCP) last week after the retailer reported an unexpected profit and positive free cash flow in its fiscal fourth quarter. In its financial guidance for the new year, the company also forecasts positive free cash flow and an increase of between 5% and 10% in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization). However, with the company set to face more losses, the effects of coronavirus, and the actions necessary to prevent a delisting, the path forward for JCPenney stock appears increasingly bleak.
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Some investors saw signs of hope for JCPenney (NYSE: JCP) last week after the retailer reported an unexpected profit and positive free cash flow in its fiscal fourth quarter. JCPenney beat earnings, reported positive cash flow JCPenney offered better-than-expected news in its fiscal fourth quarter, which ended Feb. 2. The unexpected net profit may give bulls some hope, and the company reported $145 million in free cash flow for the full fiscal year.
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Some investors saw signs of hope for JCPenney (NYSE: JCP) last week after the retailer reported an unexpected profit and positive free cash flow in its fiscal fourth quarter. JCPenney beat earnings, reported positive cash flow JCPenney offered better-than-expected news in its fiscal fourth quarter, which ended Feb. 2. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Will Healy has no position in any of the stocks mentioned.
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It was also the only quarter during the fiscal year to see positive earnings. A turnaround looks less likely to help investors JCPenney holds $386 million in cash and short-term investments. JCPenney turned an unexpected profit, and apparel sales and positive cash flow gave bulls some sense of optimism.
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f1b3af3a-bcc8-47be-a23f-9f652e3fa848
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719555.0
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2020-02-27 00:00:00 UTC
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Validea Kenneth Fisher Strategy Daily Upgrade Report - 2/27/2020
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DDS
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https://www.nasdaq.com/articles/validea-kenneth-fisher-strategy-daily-upgrade-report-2-27-2020-2020-02-27
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nan
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The following are today's upgrades for Validea's Price/Sales Investor model based on the published strategy of Kenneth Fisher. This value strategy rewards stocks with low P/S ratios, long-term profit growth, strong free cash flow and consistent profit margins.
DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. The rating according to our strategy based on Kenneth Fisher changed from 50% to 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Dillard's, Inc. is a retailer of fashion apparel, cosmetics and home furnishing. As of January 28, 2017, the Company operated 293 Dillard's stores, including 25 clearance centers, and an Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods. The Company's segments include the Retail operations segment and the Construction segment. The Retail operations segment includes the operation of the Company's retail department stores. The Construction segment includes the operations of CDI Contractors, LLC (CDI), a general contracting construction company. CDI's business includes constructing and remodeling stores for the Company. As of January 28, 2017, the Company operated retail department stores in 29 states, primarily in the southwest, southeast and midwest regions of the United States.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
PRICE/SALES RATIO: PASS
TOTAL DEBT/EQUITY RATIO: PASS
PRICE/RESEARCH RATIO: PASS
PRICE/SALES RATIO: PASS
LONG-TERM EPS GROWTH RATE: FAIL
FREE CASH PER SHARE: PASS
THREE YEAR AVERAGE NET PROFIT MARGIN: FAIL
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
ALASKA AIR GROUP, INC. (ALK) is a mid-cap value stock in the Airline industry. The rating according to our strategy based on Kenneth Fisher changed from 50% to 90% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Alaska Air Group, Inc. is the holding company of Alaska Airlines (Alaska), Virgin America Inc., Horizon Air (Horizon) and other business units. The Company operates through three segments: Mainline, Regional and Horizon. Its Mainline segment includes Alaska's and Virgin America's scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba. Its Regional segment includes Horizon's and other third-party carriers' scheduled air transportation for passengers across a shorter distance network within the United States under capacity purchased arrangements (CPAs). Its Horizon segment includes the capacity sold to Alaska under CPA. Alaska and Virgin America operate fleets of narrowbody passenger jets. As of December 31, 2016, it maintained two frequent flyer plans: the Alaska Airlines Mileage Plan and the Virgin America Elevate.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
PRICE/SALES RATIO: PASS
TOTAL DEBT/EQUITY RATIO: PASS
PRICE/RESEARCH RATIO: PASS
PRICE/SALES RATIO: PASS
LONG-TERM EPS GROWTH RATE: FAIL
FREE CASH PER SHARE: PASS
THREE YEAR AVERAGE NET PROFIT MARGIN: PASS
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
L.B. FOSTER CO (FSTR) is a small-cap value stock in the Railroads industry. The rating according to our strategy based on Kenneth Fisher changed from 40% to 70% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: L.B. Foster Company is a manufacturer, fabricator and distributor of products and services for the rail, construction, energy and utility markets. The Company's segments include Rail Products and Services, Construction Products, and Tubular and Energy Services. Its Rail Products segment provides a range of new and used rail, trackwork and accessories to railroads, mines and industry. The Rail segment designs and produces concrete railroad ties, insulated rail joints, power rail, track fasteners, coverboards and special accessories for mass transit and other rail systems. The Construction Products segment sells and rents steel sheet piling, H-bearing pile and other piling products for foundation and earth retention requirements. The Tubular and Energy Services segment supplies pipe coatings for natural gas pipelines and utilities, blending, injection and metering equipment for the oil and gas market, and produces threaded pipe products for industrial water well and irrigation markets.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
PRICE/SALES RATIO: PASS
TOTAL DEBT/EQUITY RATIO: PASS
PRICE/RESEARCH RATIO: PASS
PRICE/SALES RATIO: PASS
LONG-TERM EPS GROWTH RATE: FAIL
FREE CASH PER SHARE: FAIL
THREE YEAR AVERAGE NET PROFIT MARGIN: FAIL
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
GENTHERM INC (THRM) is a small-cap growth stock in the Auto & Truck Parts industry. The rating according to our strategy based on Kenneth Fisher changed from 58% to 70% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Gentherm Incorporated (Gentherm) is a global technology company engaged in the design, development, and manufacturing of thermal management technologies. The Company has two segments: Automotive and Industrial. Its products provide solutions for automotive passenger comfort and convenience, battery thermal management, remote power generation, patient temperature management, environmental product testing and other consumer and industrial temperature control needs. Its automotive products can be found on the vehicles of all major automotive manufacturers operating in North America, Europe and Asia. The Automotive segment comprises the results from its global automotive businesses and individual convenience products. The Industrial segment represents the combined results from its remote power generation systems business, patient temperature management systems business, environmental testing equipment and services business, and advanced research and product development division.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
PRICE/SALES RATIO: PASS
TOTAL DEBT/EQUITY RATIO: PASS
PRICE/RESEARCH RATIO: PASS
PRICE/SALES RATIO: FAIL
LONG-TERM EPS GROWTH RATE: FAIL
FREE CASH PER SHARE: PASS
THREE YEAR AVERAGE NET PROFIT MARGIN: FAIL
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
STRATASYS LTD (SSYS) is a small-cap growth stock in the Computer Peripherals industry. The rating according to our strategy based on Kenneth Fisher changed from 58% to 70% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Stratasys Ltd. is a provider of three dimensional (3D) printing and additive manufacturing (AM) solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. The Company's solutions include products ranging from entry-level desktop 3D printers to systems for rapid prototyping (RP) and production systems for direct digital manufacturing (DDM). As of December 31, 2016, it offered 3D printing consumable materials, consisting of 15 fused deposition modeling (FDM), cartridge-based materials, 26 PolyJet cartridge-based materials, five smooth curvature printing (SCP) inkjet-based materials, 158 non-color digital materials, and over 1,500 color variations, as well as its four SolidScape non-toxic thermoplastic modeling materials. The Company's products and services are used in various industries, including aerospace, automotive, consumer electronics, consumer goods, education, dental, jewelry and others.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
PRICE/SALES RATIO: PASS
TOTAL DEBT/EQUITY RATIO: PASS
PRICE/RESEARCH RATIO: PASS
PRICE/SALES RATIO: FAIL
LONG-TERM EPS GROWTH RATE: FAIL
FREE CASH PER SHARE: PASS
THREE YEAR AVERAGE NET PROFIT MARGIN: FAIL
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
ASPEN AEROGELS INC (ASPN) is a small-cap growth stock in the Containers & Packaging industry. The rating according to our strategy based on Kenneth Fisher changed from 48% to 60% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions. Its product lines include Pyrogel and Cryogel. The Company provides Pyrogel XT/XT-E that reduces the risk of corrosion under insulation in high temperature operating systems; Pyrogel XTF, which provides protection against fire; Cryogel Z, which is designed for sub-ambient and cryogenic applications in the energy infrastructure market, and Spaceloft Subsea, which is used in pipe-in-pipe applications in offshore oil production. It also offers Spaceloft for use in building and construction market, and Cryogel X201, which is used in cold system designs consisting of refrigerated appliances, cold storage equipment and aerospace systems.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
PRICE/SALES RATIO: PASS
TOTAL DEBT/EQUITY RATIO: PASS
PRICE/RESEARCH RATIO: PASS
PRICE/SALES RATIO: FAIL
LONG-TERM EPS GROWTH RATE: FAIL
FREE CASH PER SHARE: FAIL
THREE YEAR AVERAGE NET PROFIT MARGIN: FAIL
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
ADTALEM GLOBAL EDUCATION INC (ATGE) is a small-cap growth stock in the Schools industry. The rating according to our strategy based on Kenneth Fisher changed from 58% to 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Adtalem Global Education Inc., formerly DeVry Education Group Inc. (DeVry Group) is a global provider of educational services. DeVry Group's focuses on empowering its students to achieve their educational and career goals. DeVry Group's institutions offer a range of programs in healthcare, technology, business, accounting, finance and law. The Company operates in three segments: Medical and Healthcare; International and Professional Education, and Business, Technology and Management. Medical and Healthcare includes DeVry Medical International, Chamberlain College of Nursing (Chamberlain) and Carrington College. International and Professional Education consists of DeVry Brasil and Becker Professional Education. Business, Technology and Management consists of DeVry University. As of June 30, 2016, DMI operated three institutions: American University of the Caribbean School of Medicine (AUC), Ross University School of Medicine (RUSM) and Ross University School of Veterinary Medicine.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
PRICE/SALES RATIO: PASS
TOTAL DEBT/EQUITY RATIO: PASS
PRICE/RESEARCH RATIO: PASS
PRICE/SALES RATIO: FAIL
LONG-TERM EPS GROWTH RATE: FAIL
FREE CASH PER SHARE: PASS
THREE YEAR AVERAGE NET PROFIT MARGIN: PASS
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
Since its inception, Validea's strategy based on Kenneth Fisher has returned 340.68% vs. 213.49% for the S&P 500. For more details on this strategy, click here
About Kenneth Fisher: The son of Philip Fisher, who is considered the "Father of Growth Investing", Kenneth Fisher is a money manager, bestselling author, and longtime Forbes columnist. The younger Fisher wowed Wall Street in the mid-1980s when his book Super Stocks first popularized the idea of using the price/sales ratio (PSR) as a means of identifying attractive stocks. According to his alma mater, Humboldt State University, Fisher is also one of the world's foremost experts on 19th century logging. Appropriately, Fisher's firm, Fisher Investments, is located in a lush forest preserve in Woodside, California, where the contrarian-minded Fisher says he and his employees can get away from Wall Street groupthink.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. Its Mainline segment includes Alaska's and Virgin America's scheduled air transportation for passengers and cargo throughout the United States, and in parts of Canada, Mexico, Costa Rica and Cuba. Its Regional segment includes Horizon's and other third-party carriers' scheduled air transportation for passengers across a shorter distance network within the United States under capacity purchased arrangements (CPAs).
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DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. Company Description: Alaska Air Group, Inc. is the holding company of Alaska Airlines (Alaska), Virgin America Inc., Horizon Air (Horizon) and other business units. Its products provide solutions for automotive passenger comfort and convenience, battery thermal management, remote power generation, patient temperature management, environmental product testing and other consumer and industrial temperature control needs.
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DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. The Company's segments include the Retail operations segment and the Construction segment. Company Description: Alaska Air Group, Inc. is the holding company of Alaska Airlines (Alaska), Virgin America Inc., Horizon Air (Horizon) and other business units.
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DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. The Company's segments include the Retail operations segment and the Construction segment. The Company's segments include Rail Products and Services, Construction Products, and Tubular and Energy Services.
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0fcee1da-031c-432d-8d98-22dab9bc6f04
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719556.0
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2020-02-25 00:00:00 UTC
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Dillard's Q4 Profit Misses Estimates - Quick Facts
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DDS
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https://www.nasdaq.com/articles/dillards-q4-profit-misses-estimates-quick-facts-2020-02-25
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nan
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(RTTNews) - Dillard's, Inc. (DDS) reported fourth-quarter earnings per share of $2.75 compared to $3.22, a year ago. The company noted that net income for the 13 weeks ended February 1, 2020 included a pretax gain of $8.3 million ($6.5 million after tax or $0.26 per share) and $2.3 million ($0.09 per share) in tax benefits. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $3.01, for the quarter. Analysts' estimates typically exclude special items.
Fourth-quarter net sales were $1.92 billion compared to $2.01 billion, a year ago. Total merchandise sales decreased 4% for the 13-week period ended February 1, 2020. Sales in comparable stores for the period decreased 3%. Analysts expected revenue of $2.03 billion for the quarter.
Dillard's CEO William Dillard, II, said, "A weak top line weighed heavily on the bottom line in the fourth quarter. However, we achieved a consecutive 4% decline in inventory while maintaining a flat gross margin rate."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Dillard's, Inc. (DDS) reported fourth-quarter earnings per share of $2.75 compared to $3.22, a year ago. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $3.01, for the quarter. However, we achieved a consecutive 4% decline in inventory while maintaining a flat gross margin rate."
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(RTTNews) - Dillard's, Inc. (DDS) reported fourth-quarter earnings per share of $2.75 compared to $3.22, a year ago. The company noted that net income for the 13 weeks ended February 1, 2020 included a pretax gain of $8.3 million ($6.5 million after tax or $0.26 per share) and $2.3 million ($0.09 per share) in tax benefits. Fourth-quarter net sales were $1.92 billion compared to $2.01 billion, a year ago.
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(RTTNews) - Dillard's, Inc. (DDS) reported fourth-quarter earnings per share of $2.75 compared to $3.22, a year ago. The company noted that net income for the 13 weeks ended February 1, 2020 included a pretax gain of $8.3 million ($6.5 million after tax or $0.26 per share) and $2.3 million ($0.09 per share) in tax benefits. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $3.01, for the quarter.
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(RTTNews) - Dillard's, Inc. (DDS) reported fourth-quarter earnings per share of $2.75 compared to $3.22, a year ago. Fourth-quarter net sales were $1.92 billion compared to $2.01 billion, a year ago. Total merchandise sales decreased 4% for the 13-week period ended February 1, 2020.
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a8910f20-34dc-4fae-ac19-8c76c2711167
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719557.0
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2019-12-27 00:00:00 UTC
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Dillard's, Inc. (DDS) Ex-Dividend Date Scheduled for December 30, 2019
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DDS
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https://www.nasdaq.com/articles/dillards-inc.-dds-ex-dividend-date-scheduled-for-december-30-2019-2019-12-27
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nan
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Dillard's, Inc. (DDS) will begin trading ex-dividend on December 30, 2019. A cash dividend payment of $0.15 per share is scheduled to be paid on February 03, 2020. Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. This represents an 50% increase over prior dividend payment. At the current stock price of $72.64, the dividend yield is .83%.
The previous trading day's last sale of DDS was $72.64, representing a -16.23% decrease from the 52 week high of $86.71 and a 51.49% increase over the 52 week low of $47.95.
DDS is a part of the Consumer Services sector, which includes companies such as Walmart Inc. (WMT) and Costco Wholesale Corporation (COST). DDS's current earnings per share, an indicator of a company's profitability, is $4.84. Zacks Investment Research reports DDS's forecasted earnings growth in 2020 as -31.54%, compared to an industry average of -23.4%.
For more information on the declaration, record and payment dates, visit the DDS Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. DDS is a part of the Consumer Services sector, which includes companies such as Walmart Inc. (WMT) and Costco Wholesale Corporation (COST). Zacks Investment Research reports DDS's forecasted earnings growth in 2020 as -31.54%, compared to an industry average of -23.4%.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. DDS's current earnings per share, an indicator of a company's profitability, is $4.84. Dillard's, Inc. (DDS) will begin trading ex-dividend on December 30, 2019.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. The previous trading day's last sale of DDS was $72.64, representing a -16.23% decrease from the 52 week high of $86.71 and a 51.49% increase over the 52 week low of $47.95. For more information on the declaration, record and payment dates, visit the DDS Dividend History page.
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Shareholders who purchased DDS prior to the ex-dividend date are eligible for the cash dividend payment. Dillard's, Inc. (DDS) will begin trading ex-dividend on December 30, 2019. The previous trading day's last sale of DDS was $72.64, representing a -16.23% decrease from the 52 week high of $86.71 and a 51.49% increase over the 52 week low of $47.95.
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2eb00832-2ff4-4278-8159-444d5d8df7ca
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719558.0
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2019-12-04 00:00:00 UTC
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Are These 3 Sell-Rated Stocks Wildly Overvalued?
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DDS
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https://www.nasdaq.com/articles/are-these-3-sell-rated-stocks-wildly-overvalued-2019-12-04
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nan
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nan
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What goes up must come down – it’s true in physics, and it’s also true in the stock markets. We all know that the economy moves in cycles of growth and recession, and that the US is currently in the tenth year of a growth cycle – the longest sustained such cycle since the end of WWII. But there are warnings signs, and some market watchers are growing worried. Bond yields are low, perhaps too low, and the Federal Reserve has started rate cutting again, meaning it will have less room to maneuver in the next downturn. And Federal debt is at extraordinary levels, which some say are simply not sustainable.
So that’s the background. But it doesn’t touch what is possibly the most important point of all: simply put, the US economy and stock markets have grown much faster in recent years, and reached much greater highs, than those in the rest of the world. Standing so much higher than the rest, the US economy is poised to fall much harder when the next recession does come.
Jeffrey Gundlach, CEO of DoubleLine Capital, and an influential investor in the bond markets, has been outspoken recently about his worries for the markets in the near future. “Today, we have the S&P 500 is killing everybody else over the last ten years, almost 100% outperformance versus most other stock markets,” he says, setting the scene, and adds, “When the next recession comes, the United States will get crushed, and it will not make it back to the highs that we've seen, that we're floating around right now, probably for the rest of my career, is what I think is going to happen.”
Gundlach is suggesting that the next recession could last several years or longer. He sees Federal debt as the biggest warning flasher right now, stating that the US government’s deficit problem – its chronic inability to balance tax receipts and expenditures – will push down hard on the dollar.
OK, now that we’ve laid out the bearish case, what do we do with that information? Because using information is what TipRanks is all about. Markets are still growing, but there is a real case to be made that there is underlying fragility. One way to protect your portfolio is to get out of weak stocks. We’ve opened up the TipRanks Stock Screener tool and looked for stocks with a Sell rating and upwards of 15% downside potential. Let’s take a look at three of them, and see why Wall Street’s analysts are so wary.
United Natural Foods (UNFI)
We’ll start in the food service industry. You may think that food – being a commodity necessary for life – would be a solid foundation on which to build a business, but the food industry company’s face numerous headwinds: high overhead, low margins, volatile supply chains, and stiff competition, to name just a few. United Foods, the primary distributor for the upscale grocer Whole Foods Market, occupies an especially competitive niche in the natural and organic food segment.
In the summer of 2018, UNFI compounded the natural headwinds of its business sector by acquiring Minnesota-based grocery wholesaler SuperValu for $1.3 billion. In the process, UNFI also had to pick up SuperValu’s $1.6 billion in debt. While UNFI could afford the purchase – United brings in upwards of $10 billion in annual revenues – it was still a significant hit to the wallet and the corporate debt load.
While UNFI shares declined through most of 2019, the company looked like it was starting to turn around at the beginning of September. The fiscal Q4 report, released October 2, derailed that. Despite a strong year-over-year gain in revenue, from $2.59 billion to $6.41 billion, EPS dropped sharply, coming in at 44 cents. This was 36% below the 69-cent estimate, which itself was well below the year-ago figure of 76 cents. The fall in earnings, after the year-long slide in share value – shares in UNFI are down 11% in 2019 – reflects the impact of the SuperValu acquisition. Share value dropped sharply after the earnings report. It is clear that UNFI is still figuring out how to adjust to the new customer mix and gross margin numbers.
Karen Short, 4-star analyst with Barclays, is skittish on UNFI. She writes, “While the heavy lifting on UNFI’s transformation has been completed, FY20 guidance was below expectations and bridging to guidance remains challenging given the many moving parts. With insufficient clarity on the stability of the core business, we remain [underweight]… the path to stability on the core remains elusive for the foreseeable future so we cannot become more constructive on the name until we have clarity on how the core is performing…” Short puts a $7 price target on UNFI to go along with her Sell rating. This suggests a potential downside of 25% for the stock. (To watch Short’s track record, click here)
From BMO Capital, analyst Kelly Bania also sees UNFI as an underperformer. The analyst wrote, “UNFI reported a challenging F4Q19 which led F19 adjusted EBITDA to come in well below expectations. Guidance for F20 was below expectations and management walked back longer-term targets.” Bania’s $5 price implies a disastrous 46% downside to UNFI, in line with his "sell" rating for the stock. (To watch Bania’s track record, click here)
Overall, UNFI stock hasn’t had a Buy rating in the past three months, and the most recent reviews are evenly split between 2 Sells and 2 Holds, giving UNFI a Moderate Sell consensus view. Shares trade at a low $9.81, but the $7.50 average price target indicates that the stock may have an additional 23.55% to fall. (See UNFI stock analysis on TipRanks)
Dillard’s, Inc. (DDS)
From food wholesalers we move to the clothing industry. Dillard’s is a major department store chain in the US, with over 292 stores. The chain’s largest presence is in Florida and Texas, with 42 and 57 stores respectively, and the other 193 stores are spread across 27 more states, mostly in the South and West. DDS shares have been volatile this year, as the company struggles with declining profit margins and trouble attracting younger customers.
The difficulties saw DDS’s earnings fall by almost half in 1H19. Management put in place improvements in inventory management, boosting the chain’s efficiency and reducing the inventory gain year-over-year. In Q3 2019, DDS clobbered the estimates, bringing in a positive EPS of 22 cents when the analysts had expected a loss of 25 cents. It was a powerful performance, made more impressive when one notes that revenues slipped in the quarter, falling year-over-year from $1.46 billion to $1.39 billion.
Historically, however, DDS has not been able to sustain the kind of performance that boosts the stock. The company has managed to post short-term rallies, but each fizzles out fairly quickly – and the long-term chart trend for DDS is not encouraging. While the stock is up 17% this year – still underperforming the S&P 500, however – it is down 35% over the past five years. Management has shown that it is good at improving inventory efficiencies, but the overall picture is not encouraging.
That the big picture is somewhat grim is underscored by Deutsche Bank’s Paul Trussell. The 4-star analyst, in reviewing the recent quarterly report, wrote, “We commend management on delivering solid improvement from 1H19, especially in light of the highly promotional environment, but maintain our Sell rating as we expect full-year EBIT margin to contract by -124 bps (the company's worst performance since 2016).”
Trussell put a $44 price target on DDS to go along with his Sell rating, suggesting a 38% downside to the stock. (To watch Trussell’s track record, click here)
Dillard’s has a Moderate Sell rating from the analyst consensus, with 1 Hold and 2 Sells given in the past month. It’s important to note here that even the high estimate price target still indicates a downside to this stock – indicating that the analysts here are truly bearish. DDS is trading for $68.90, and the average price target of $49.33 implies that there 28% more room to fall on the downside. (See Dillard’s stock analysis on TipRanks)
National Beverage (FIZZ)
The fifth largest beverage company in the US may not be a household name, but some of its products are. National Beverage is the owner of Faygo and Shasta, popular regional soft drink brands, as well as the Wisconsin-based La Croix brand of carbonated water drinks. The company also owns and distributes several additional lines of soft drinks, energy drinks, and juices.
While FIZZ’s brands are, at least regionally, popular, the company is facing declines on both the top and bottom lines of the earnings statements. For Q3 2019, the company reported EPS of 53 cents. This was 35 cents lower than the year-ago quarter, or a 39% drop. The gross revenue number was also bad, falling 3% from $227.5 million to the current value of $220.8 million.
Commenting on the sharp drops in the quarterly results, CEO Nick Caporella said simply, “We are truly sorry for these results stated above.” He went on to add, “[G]ross margins were impacted by volume declines. Comparisons were further skewed by the adoption of the new tax act in the third quarter of the prior year…”
So, despite annual revenues exceeding $1 billion, FIZZ is in trouble. The company is struggling with low margins combined with difficulties managing and promoting brands. The La Croix brand, in particular, has been the subject of lawsuits alleging that it does not use “all natural” flavoring as advertised.
Branding troubles and competition are on the minds of Wall Street’s analysts when they look at FIZZ. Laurent Grandet, of Guggenheim, writes, “We are revising our expectations for National Beverage ahead of [fiscal] 2Q results expected in early December… we are now incorporating our estimated impact of the upcoming AHA brand launch in March 2020 that we expect will take shelf space and share from LaCroix. We continue to think LaCroix will not stabilize until at least next year...” Grandet reiterates her Sell rating on the stock, and lowers her price target to $31, indicating a downside of 36%. (To watch Grandet’s track record, click here.)
Jefferies analyst Kevin Grundy is even more concise in his hard-edged review of FIZZ. He states simply, “Competition has intensified in the sparkling water space and we still do not foresee a quick, inexpensive, or even certain turnaround for the co.'s LaCroix brand.” Grundy also places a Sell on FIZZ, with a $32 price target that implies a 34% downside risk. (To watch Grundy’s track record, click here.)
All told, FIZZ is rated a Moderate Sell by the analyst consensus. The three most recent ratings on the stock are 2 Sells and 1 Hold, indicating a bearish mood among analysts. The company’s branding and image problems are far from over, and Wall Street sees that continuing to impact sales. Shares are priced at $49.53, and the average price target of $35 suggests a downside of nearly 30%. (See National Beverage's stock analysis on TipRanks)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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“Today, we have the S&P 500 is killing everybody else over the last ten years, almost 100% outperformance versus most other stock markets,” he says, setting the scene, and adds, “When the next recession comes, the United States will get crushed, and it will not make it back to the highs that we've seen, that we're floating around right now, probably for the rest of my career, is what I think is going to happen.” Gundlach is suggesting that the next recession could last several years or longer. (See UNFI stock analysis on TipRanks) Dillard’s, Inc. (DDS) From food wholesalers we move to the clothing industry. DDS shares have been volatile this year, as the company struggles with declining profit margins and trouble attracting younger customers.
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“Today, we have the S&P 500 is killing everybody else over the last ten years, almost 100% outperformance versus most other stock markets,” he says, setting the scene, and adds, “When the next recession comes, the United States will get crushed, and it will not make it back to the highs that we've seen, that we're floating around right now, probably for the rest of my career, is what I think is going to happen.” Gundlach is suggesting that the next recession could last several years or longer. (See UNFI stock analysis on TipRanks) Dillard’s, Inc. (DDS) From food wholesalers we move to the clothing industry. DDS shares have been volatile this year, as the company struggles with declining profit margins and trouble attracting younger customers.
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The 4-star analyst, in reviewing the recent quarterly report, wrote, “We commend management on delivering solid improvement from 1H19, especially in light of the highly promotional environment, but maintain our Sell rating as we expect full-year EBIT margin to contract by -124 bps (the company's worst performance since 2016).” Trussell put a $44 price target on DDS to go along with his Sell rating, suggesting a 38% downside to the stock. “Today, we have the S&P 500 is killing everybody else over the last ten years, almost 100% outperformance versus most other stock markets,” he says, setting the scene, and adds, “When the next recession comes, the United States will get crushed, and it will not make it back to the highs that we've seen, that we're floating around right now, probably for the rest of my career, is what I think is going to happen.” Gundlach is suggesting that the next recession could last several years or longer. (See UNFI stock analysis on TipRanks) Dillard’s, Inc. (DDS) From food wholesalers we move to the clothing industry.
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The 4-star analyst, in reviewing the recent quarterly report, wrote, “We commend management on delivering solid improvement from 1H19, especially in light of the highly promotional environment, but maintain our Sell rating as we expect full-year EBIT margin to contract by -124 bps (the company's worst performance since 2016).” Trussell put a $44 price target on DDS to go along with his Sell rating, suggesting a 38% downside to the stock. “Today, we have the S&P 500 is killing everybody else over the last ten years, almost 100% outperformance versus most other stock markets,” he says, setting the scene, and adds, “When the next recession comes, the United States will get crushed, and it will not make it back to the highs that we've seen, that we're floating around right now, probably for the rest of my career, is what I think is going to happen.” Gundlach is suggesting that the next recession could last several years or longer. (See UNFI stock analysis on TipRanks) Dillard’s, Inc. (DDS) From food wholesalers we move to the clothing industry.
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d60847ff-9e8f-4c9b-a564-6c37e88d293f
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719559.0
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2019-12-03 00:00:00 UTC
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Validea Benjamin Graham Strategy Daily Upgrade Report - 12/3/2019
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DDS
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https://www.nasdaq.com/articles/validea-benjamin-graham-strategy-daily-upgrade-report-12-3-2019-2019-12-03
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nan
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nan
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The following are today's upgrades for Validea's Value Investor model based on the published strategy of Benjamin Graham. This deep value methodology screens for stocks that have low P/B and P/E ratios, along with low debt and solid long-term earnings growth.
DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. The rating according to our strategy based on Benjamin Graham changed from 71% to 86% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Dillard's, Inc. is a retailer of fashion apparel, cosmetics and home furnishing. As of January 28, 2017, the Company operated 293 Dillard's stores, including 25 clearance centers, and an Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods. The Company's segments include the Retail operations segment and the Construction segment. The Retail operations segment includes the operation of the Company's retail department stores. The Construction segment includes the operations of CDI Contractors, LLC (CDI), a general contracting construction company. CDI's business includes constructing and remodeling stores for the Company. As of January 28, 2017, the Company operated retail department stores in 29 states, primarily in the southwest, southeast and midwest regions of the United States.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
AMC NETWORKS INC (AMCX) is a mid-cap value stock in the Motion Pictures industry. The rating according to our strategy based on Benjamin Graham changed from 71% to 86% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: AMC Networks Inc. is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada. The International and Other segment includes AMC Networks International (AMCNI), the Company's international programming businesses consisting of a portfolio of channels in Europe, Latin America, the Middle East and parts of Asia and Africa; IFC Films, the Company's independent film distribution business; AMCNI- DMC, the broadcast solutions unit of certain networks of AMCNI and third-party networks, and various developing online content distribution initiatives. National Networks' programming networks include AMC, WE tv, BBC AMERICA and SundanceTV.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
RAYONIER ADVANCED MATERIALS INC (RYAM) is a small-cap value stock in the Chemical Manufacturing industry. The rating according to our strategy based on Benjamin Graham changed from 71% to 86% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Rayonier Advanced Materials Inc. is engaged in the production of cellulose specialties. The Company's product lines include cellulose specialties and commodity products. Its products are used in manufacturing processes. The Company's products are sold throughout the world to companies for use in various industrial applications, and to produce a range of products, including cigarette filters, foods, pharmaceuticals, textiles and electronics. The Company focuses on producing various forms of cellulose specialties products, such as cellulose acetate and cellulose ethers. The Company's production facilities are located in Jesup, Georgia and Fernandina Beach, Florida. The Jesup plant can produce cellulose specialties or commodity products using both hardwood and softwood in a pre-hydrolyzed kraft or high potential of hydrogen (pH) cooking process. The Fernandina Beach plant can produce cellulose specialties or commodity products using softwood in a sulfite or low pH cooking process.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
Since its inception, Validea's strategy based on Benjamin Graham has returned 449.22% vs. 213.24% for the S&P 500. For more details on this strategy, click here
About Benjamin Graham: The late Benjamin Graham may be the oldest of the gurus we follow, but his impact on the investing world has lasted for decades after his death in 1976. Known as both the "Father of Value Investing" and the founder of the entire field of security analysis, Graham mentored several of history's greatest investors -- including Warren Buffett -- and inspired a slew of others, including John Templeton, Mario Gabelli, and another of Validea's gurus, John Neff. Graham built his fortune and reputation after living through some extremely difficult times, including both the Great Depression and his own family's financial woes following his father's death when Benjamin was a young man. His investment firm posted per annum returns of about 20 percent from 1936 to 1956, far outpacing the 12.2 percent average return for the market during that time.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. The Jesup plant can produce cellulose specialties or commodity products using both hardwood and softwood in a pre-hydrolyzed kraft or high potential of hydrogen (pH) cooking process. Graham built his fortune and reputation after living through some extremely difficult times, including both the Great Depression and his own family's financial woes following his father's death when Benjamin was a young man.
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DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. For a full detailed analysis using NASDAQ's Guru Analysis tool, click here AMC NETWORKS INC (AMCX) is a mid-cap value stock in the Motion Pictures industry. The International and Other segment includes AMC Networks International (AMCNI), the Company's international programming businesses consisting of a portfolio of channels in Europe, Latin America, the Middle East and parts of Asia and Africa; IFC Films, the Company's independent film distribution business; AMCNI- DMC, the broadcast solutions unit of certain networks of AMCNI and third-party networks, and various developing online content distribution initiatives.
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DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. The Retail operations segment includes the operation of the Company's retail department stores. The International and Other segment includes AMC Networks International (AMCNI), the Company's international programming businesses consisting of a portfolio of channels in Europe, Latin America, the Middle East and parts of Asia and Africa; IFC Films, the Company's independent film distribution business; AMCNI- DMC, the broadcast solutions unit of certain networks of AMCNI and third-party networks, and various developing online content distribution initiatives.
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DILLARD'S, INC. (DDS) is a small-cap value stock in the Retail (Department & Discount) industry. The Retail operations segment includes the operation of the Company's retail department stores. The Fernandina Beach plant can produce cellulose specialties or commodity products using softwood in a sulfite or low pH cooking process.
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80824ed5-3c30-4183-8d69-f9d9b9b9ef86
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719560.0
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2019-11-27 00:00:00 UTC
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From J.C. Penney to Nordstrom, Department Stores Are Still in Trouble
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DDS
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https://www.nasdaq.com/articles/from-j.c.-penney-to-nordstrom-department-stores-are-still-in-trouble-2019-11-27
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nan
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nan
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It's not entirely accurate to say the retail apocalypse remains in full swing. Though plenty of stores are still closing, a handful of chains are expanding again. Total consumption, as measured in dollars, is actually on the rise.
One segment of retail remains under siege, though: the department store. Interestingly, the format's troubles span the full income/lifestyle spectrum. Department stores ranging from value-oriented J.C. Penney (NYSE: JCP) to middle-ground names like Macy's (NYSE: M) or Dillard's (NYSE: DDS) to the more affluent-minded Nordstrom (NYSE: JWN) all continue to struggle.
Investors who follow (or own) any of those names might initially disagree, noting that several of those retailers beat expectations last quarter. Just take a closer look at the numbers. The bars were set low...again.
4 beats, but not one actual improvement
They're all categorized as department stores, but Penney's isn't exactly comparable to Macy's, nor is Macy's quite the same thing as Nordstrom. There's sure to be some overlap among their shoppers, but the numbers speak for themselves.
Those numbers? The typical JCPenney customer earns less than $63,000 per year, according to 2016 data from Kantar Retail, and is 51 years old. In the same study, Kantar found that the average Macy's customer made more than $75,000 per year and was 49 years old. Meanwhile, Viant data collected that same year showed that more than 40% of Nordstrom's shoppers had six-figure incomes -- versus 35% for Macy's -- yet they are only 43 years old on average. In that same vein, the importance of value-adding coupons to JCPenney shoppers can't be overlooked. Sales imploded when then-CEO Ron Johnson all but discontinued them in 2013.
Image Source: Getty Images.
There remains one common thread among all four department store chains despite their distinctly different target consumers. That is, they're all still fighting a losing battle.
Yes, J.C. Penney shares gained more than 6% the day after reporting a Q3 loss of $0.29 per share. Analysts were modeling a loss of $0.48 per share. Dillard's soared 14% on Nov. 14 in response to its quarterly earnings per share of $0.22, versus the $0.29 loss analysts had been modeling.
Take a closer look at the results, though. They may have been better than expected, but J.C. Penney's same-store sales -- a key metric for tracking demand -- fell 6.6% on an adjusted basis.
Data Source: Thomson Reuters. Image by author.
Dillard's fared measurably better using the same yardstick, reporting flat year over year sales for stores open at least a year. Yet it, too, has experienced deceleration in store-level revenue growth. In the third quarter of fiscal 2018, Dillard's mustered a 3% increase in same-store sales.
Total revenue fell for both J.C. Penney and Dillard's, and for the latter, net income shrunk by nearly $2 million.
Data Source: Thomson Reuters. Image by author.
Nordstrom and Macy's didn't exactly offer fresh inspiration last week, either. Nordstrom may have grown adjusted EPS 21% year over year, with its per-share profit of $0.81 handily topping expectations of $0.63, but total revenue fell a little more than 2%. (The company no longer reports same-store metrics.) Macy's still does report same-store sales, which fell 3.5% in the third quarter. To the company's credit, adjusted EPS of $0.07 beat the analyst consensus of breakeven. Net sales fell short of estimates, though, falling 4.4% year over year.
In all four cases, last quarter's struggle extended a well-established trend.
There's a reason nothing is working for any of them
Had just one or even two of the four aforementioned names come up short on the sales front, it would be easy to call it a company-specific problem. Not all socioeconomic classes rise and fall to the same degree, and sometimes, a retailer just plain screws things up. It would also be easy to write off the poor results had last quarter's weakness been a one-off.
Neither is the case in this instance, though. Different demographics and income levels didn't matter. Different traffic-driving approaches didn't make a difference. Different kinds of in-store experience haven't mattered, either. Most department stores continue to fight a losing battle, even if they beat last quarter's top and/or bottom line estimates.
It's not exactly an earth-shattering suggestion, but perhaps it needs to be explicitly voiced -- it's not consumers, or the economy, or even retailing that is in trouble. Perhaps the department store concept is the problem. As Cowen's senior retail analyst Oliver Chen put it last week, "We're in a new Instagrammable nation with Gen Zs and the transformation of the way people shop and you really need a special product. In addition, you need a really special store experience and the mall has been a horribly tough place with negative mall traffic."
The numbers certainly lead investors to that conclusion.
10 stocks we like better than Macy's
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James Brumley has no position in any of the stocks mentioned. The Motley Fool recommends Nordstrom. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Department stores ranging from value-oriented J.C. Penney (NYSE: JCP) to middle-ground names like Macy's (NYSE: M) or Dillard's (NYSE: DDS) to the more affluent-minded Nordstrom (NYSE: JWN) all continue to struggle. They may have been better than expected, but J.C. Penney's same-store sales -- a key metric for tracking demand -- fell 6.6% on an adjusted basis. Most department stores continue to fight a losing battle, even if they beat last quarter's top and/or bottom line estimates.
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Department stores ranging from value-oriented J.C. Penney (NYSE: JCP) to middle-ground names like Macy's (NYSE: M) or Dillard's (NYSE: DDS) to the more affluent-minded Nordstrom (NYSE: JWN) all continue to struggle. Net sales fell short of estimates, though, falling 4.4% year over year. Most department stores continue to fight a losing battle, even if they beat last quarter's top and/or bottom line estimates.
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Department stores ranging from value-oriented J.C. Penney (NYSE: JCP) to middle-ground names like Macy's (NYSE: M) or Dillard's (NYSE: DDS) to the more affluent-minded Nordstrom (NYSE: JWN) all continue to struggle. 4 beats, but not one actual improvement They're all categorized as department stores, but Penney's isn't exactly comparable to Macy's, nor is Macy's quite the same thing as Nordstrom. Dillard's fared measurably better using the same yardstick, reporting flat year over year sales for stores open at least a year.
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Department stores ranging from value-oriented J.C. Penney (NYSE: JCP) to middle-ground names like Macy's (NYSE: M) or Dillard's (NYSE: DDS) to the more affluent-minded Nordstrom (NYSE: JWN) all continue to struggle. 4 beats, but not one actual improvement They're all categorized as department stores, but Penney's isn't exactly comparable to Macy's, nor is Macy's quite the same thing as Nordstrom. Meanwhile, Viant data collected that same year showed that more than 40% of Nordstrom's shoppers had six-figure incomes -- versus 35% for Macy's -- yet they are only 43 years old on average.
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e856d557-9a0c-4070-97c5-da95990d8aed
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719561.0
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2019-11-18 00:00:00 UTC
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Notable Monday Option Activity: SQ, DDS, ICHR
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DDS
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https://www.nasdaq.com/articles/notable-monday-option-activity%3A-sq-dds-ichr-2019-11-18
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Square Inc (Symbol: SQ), where a total of 54,768 contracts have traded so far, representing approximately 5.5 million underlying shares. That amounts to about 64.5% of SQ's average daily trading volume over the past month of 8.5 million shares. Particularly high volume was seen for the $65 strike call option expiring November 22, 2019, with 3,665 contracts trading so far today, representing approximately 366,500 underlying shares of SQ. Below is a chart showing SQ's trailing twelve month trading history, with the $65 strike highlighted in orange:
Dillard's Inc. (Symbol: DDS) saw options trading volume of 1,971 contracts, representing approximately 197,100 underlying shares or approximately 62.9% of DDS's average daily trading volume over the past month, of 313,505 shares. Especially high volume was seen for the $77.50 strike put option expiring November 22, 2019, with 171 contracts trading so far today, representing approximately 17,100 underlying shares of DDS. Below is a chart showing DDS's trailing twelve month trading history, with the $77.50 strike highlighted in orange:
And Ichor Holdings Ltd (Symbol: ICHR) options are showing a volume of 2,835 contracts thus far today. That number of contracts represents approximately 283,500 underlying shares, working out to a sizeable 62.2% of ICHR's average daily trading volume over the past month, of 455,615 shares. Especially high volume was seen for the $30 strike put option expiring January 17, 2020, with 1,015 contracts trading so far today, representing approximately 101,500 underlying shares of ICHR. Below is a chart showing ICHR's trailing twelve month trading history, with the $30 strike highlighted in orange:
For the various different available expirations for SQ options, DDS options, or ICHR options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Especially high volume was seen for the $77.50 strike put option expiring November 22, 2019, with 171 contracts trading so far today, representing approximately 17,100 underlying shares of DDS. Below is a chart showing SQ's trailing twelve month trading history, with the $65 strike highlighted in orange: Dillard's Inc. (Symbol: DDS) saw options trading volume of 1,971 contracts, representing approximately 197,100 underlying shares or approximately 62.9% of DDS's average daily trading volume over the past month, of 313,505 shares. Below is a chart showing DDS's trailing twelve month trading history, with the $77.50 strike highlighted in orange: And Ichor Holdings Ltd (Symbol: ICHR) options are showing a volume of 2,835 contracts thus far today.
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Below is a chart showing SQ's trailing twelve month trading history, with the $65 strike highlighted in orange: Dillard's Inc. (Symbol: DDS) saw options trading volume of 1,971 contracts, representing approximately 197,100 underlying shares or approximately 62.9% of DDS's average daily trading volume over the past month, of 313,505 shares. Especially high volume was seen for the $77.50 strike put option expiring November 22, 2019, with 171 contracts trading so far today, representing approximately 17,100 underlying shares of DDS. Below is a chart showing DDS's trailing twelve month trading history, with the $77.50 strike highlighted in orange: And Ichor Holdings Ltd (Symbol: ICHR) options are showing a volume of 2,835 contracts thus far today.
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Below is a chart showing SQ's trailing twelve month trading history, with the $65 strike highlighted in orange: Dillard's Inc. (Symbol: DDS) saw options trading volume of 1,971 contracts, representing approximately 197,100 underlying shares or approximately 62.9% of DDS's average daily trading volume over the past month, of 313,505 shares. Especially high volume was seen for the $77.50 strike put option expiring November 22, 2019, with 171 contracts trading so far today, representing approximately 17,100 underlying shares of DDS. Below is a chart showing DDS's trailing twelve month trading history, with the $77.50 strike highlighted in orange: And Ichor Holdings Ltd (Symbol: ICHR) options are showing a volume of 2,835 contracts thus far today.
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Below is a chart showing SQ's trailing twelve month trading history, with the $65 strike highlighted in orange: Dillard's Inc. (Symbol: DDS) saw options trading volume of 1,971 contracts, representing approximately 197,100 underlying shares or approximately 62.9% of DDS's average daily trading volume over the past month, of 313,505 shares. Below is a chart showing ICHR's trailing twelve month trading history, with the $30 strike highlighted in orange: For the various different available expirations for SQ options, DDS options, or ICHR options, visit StockOptionsChannel.com. Especially high volume was seen for the $77.50 strike put option expiring November 22, 2019, with 171 contracts trading so far today, representing approximately 17,100 underlying shares of DDS.
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0080244f-c669-406b-b787-a29b601ecefa
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719562.0
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2019-11-14 00:00:00 UTC
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Consumer Sector Update for 11/14/2019: DDS, NBEV, WMT, MCD, DIS, CVS, KO
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DDS
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https://www.nasdaq.com/articles/consumer-sector-update-for-11-14-2019%3A-dds-nbev-wmt-mcd-dis-cvs-ko-2019-11-14
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nan
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nan
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Top Consumer Stocks:
WMT: +1.87%
MCD: +0.25%
DIS: -0.75%
CVS: +0.11%
KO: +0.27%
Most consumer giants were rallying pre-bell Thursday.
Stocks moving on news include:
(+) Dillard's (DDS), which was gaining more than 8% after it booked a Q3 net income of $0.22 per share, which compares with $0.27 per share in the 2018 quarter and the consensus estimate for a loss of $0.40 per share from analysts polled by Capital IQ.
(+) Walmart (WMT) was up more than 1% after the retail giant booked fiscal Q3 adjusted EPS of $1.16 that increased from $1.08 a year ago and topped the $1.09 average estimate from analysts polled by Capital IQ.
(-) New Age Beverages (NBEV) was declining more than 11% as it posted a Q3 net loss of $0.14 per share, wider than its loss of $0.08 per share in the year-ago period. Analysts polled by Capital IQ had called for a loss of $0.05 per share.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Stocks moving on news include: (+) Dillard's (DDS), which was gaining more than 8% after it booked a Q3 net income of $0.22 per share, which compares with $0.27 per share in the 2018 quarter and the consensus estimate for a loss of $0.40 per share from analysts polled by Capital IQ. (+) Walmart (WMT) was up more than 1% after the retail giant booked fiscal Q3 adjusted EPS of $1.16 that increased from $1.08 a year ago and topped the $1.09 average estimate from analysts polled by Capital IQ. (-) New Age Beverages (NBEV) was declining more than 11% as it posted a Q3 net loss of $0.14 per share, wider than its loss of $0.08 per share in the year-ago period.
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Stocks moving on news include: (+) Dillard's (DDS), which was gaining more than 8% after it booked a Q3 net income of $0.22 per share, which compares with $0.27 per share in the 2018 quarter and the consensus estimate for a loss of $0.40 per share from analysts polled by Capital IQ. (+) Walmart (WMT) was up more than 1% after the retail giant booked fiscal Q3 adjusted EPS of $1.16 that increased from $1.08 a year ago and topped the $1.09 average estimate from analysts polled by Capital IQ. Analysts polled by Capital IQ had called for a loss of $0.05 per share.
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Stocks moving on news include: (+) Dillard's (DDS), which was gaining more than 8% after it booked a Q3 net income of $0.22 per share, which compares with $0.27 per share in the 2018 quarter and the consensus estimate for a loss of $0.40 per share from analysts polled by Capital IQ. (+) Walmart (WMT) was up more than 1% after the retail giant booked fiscal Q3 adjusted EPS of $1.16 that increased from $1.08 a year ago and topped the $1.09 average estimate from analysts polled by Capital IQ. (-) New Age Beverages (NBEV) was declining more than 11% as it posted a Q3 net loss of $0.14 per share, wider than its loss of $0.08 per share in the year-ago period.
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Stocks moving on news include: (+) Dillard's (DDS), which was gaining more than 8% after it booked a Q3 net income of $0.22 per share, which compares with $0.27 per share in the 2018 quarter and the consensus estimate for a loss of $0.40 per share from analysts polled by Capital IQ. Top Consumer Stocks: Analysts polled by Capital IQ had called for a loss of $0.05 per share.
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19fe6e5e-0fdc-4531-858f-8b8d683bb1be
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719563.0
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2019-11-14 00:00:00 UTC
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Why American Outdoor Brands, International Game Technology, and Dillard's Jumped Today
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DDS
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https://www.nasdaq.com/articles/why-american-outdoor-brands-international-game-technology-and-dillards-jumped-today-2019
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nan
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nan
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The stock market came under modest pressure on Thursday, although pullbacks were still relatively small and major benchmarks stayed close to their historic highs. Bad news on the earnings front from a major tech company weighed on investor sentiment, and some worried rising unemployment claims were a potential harbinger of economic weakness. Yet even with a slightly downbeat mood on Wall Street, some stocks managed to post strong gains. American Outdoor Brands (NASDAQ: AOBC), International Game Technology (NYSE: IGT), and Dillard's (NYSE: DDS) were among the top performers. Here's why they did so well.
A Smith & Wesson spinoff is coming
Shares of American Outdoor Brands gained 6% after it announced that it would break itself up into two companies. American Outdoor said it would spin off its firearm business into a company to be known as Smith & Wesson Brands, with the remaining corporate entity keeping its original name and containing the outdoor products and accessories business. Board chair Barry Monheit said he expects the breakup to let each company "better align its strategic objectives with its capital allocation priorities." Given the challenges related to the gun business overall, it'll be interesting to see which stock performs better once the deal closes in the second half of 2020.
Image source: American Outdoor Brands.
IGT plays to win
International Game Technology saw its stock climb more than 23% after reporting its third-quarter financial results. Revenue for the slot machine and lottery specialist was essentially flat from year-earlier levels, and adjusted earnings per share plunged 32% year over year. Yet investors seemed pleased with the numbers, in part because of how the company fought against higher taxes in the Italian market and particularly strong performance in the year-ago quarter. Moreover, IGT's outlook was reasonably solid, and those following the stock are excited about the innovative CrystalBetting terminal and how it could be an even bigger draw both for players and for the company.
Dillard's makes some money
Finally, shares of Dillard's rose 14%. The department store retailer surprised investors by making a modest profit in the third quarter of 2019, and even though both revenue and net income were down year over year, Dillard's managed to post flat comparable sales. That was an improvement from the previous quarter. CEO William Dillard said that "we were not satisfied with the third quarter," but shareholders seemed happy about the progress that Dillard's has made in fighting back against an extremely difficult environment for department-store retailers.
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*Stock Advisor returns as of June 1, 2019.
Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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American Outdoor Brands (NASDAQ: AOBC), International Game Technology (NYSE: IGT), and Dillard's (NYSE: DDS) were among the top performers. The stock market came under modest pressure on Thursday, although pullbacks were still relatively small and major benchmarks stayed close to their historic highs. Bad news on the earnings front from a major tech company weighed on investor sentiment, and some worried rising unemployment claims were a potential harbinger of economic weakness.
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American Outdoor Brands (NASDAQ: AOBC), International Game Technology (NYSE: IGT), and Dillard's (NYSE: DDS) were among the top performers. The department store retailer surprised investors by making a modest profit in the third quarter of 2019, and even though both revenue and net income were down year over year, Dillard's managed to post flat comparable sales. Offer from The Motley Fool: The 10 best stocks to buy now Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market.
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American Outdoor Brands (NASDAQ: AOBC), International Game Technology (NYSE: IGT), and Dillard's (NYSE: DDS) were among the top performers. The department store retailer surprised investors by making a modest profit in the third quarter of 2019, and even though both revenue and net income were down year over year, Dillard's managed to post flat comparable sales. Offer from The Motley Fool: The 10 best stocks to buy now Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market.
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American Outdoor Brands (NASDAQ: AOBC), International Game Technology (NYSE: IGT), and Dillard's (NYSE: DDS) were among the top performers. American Outdoor said it would spin off its firearm business into a company to be known as Smith & Wesson Brands, with the remaining corporate entity keeping its original name and containing the outdoor products and accessories business. The department store retailer surprised investors by making a modest profit in the third quarter of 2019, and even though both revenue and net income were down year over year, Dillard's managed to post flat comparable sales.
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b79067aa-0348-461f-baf2-d1473dfb4701
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719564.0
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2019-11-14 00:00:00 UTC
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A Surprise Profit Powers Dillard's Stock 24% Higher Thursday Morning
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DDS
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https://www.nasdaq.com/articles/a-surprise-profit-powers-dillards-stock-24-higher-thursday-morning-2019-11-14
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nan
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nan
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What happened
Shares of Dillard's (NYSE: DDS), one of the nation's largest department store retailers, soared over 24% Thursday morning after delivering a surprise third-quarter profit.
So what
Third-quarter revenue checked in at $1.42 billion, down from the prior year's $1.46 billion, but ahead of analysts' estimates that called for $1.41 billion. Net income checked in at $5.5 million, or $0.22 per share, which was again below the prior year's $7.4 million, or $0.27 per share, but ahead of analysts who called for a $0.29 loss per share.
There were a couple of other noteworthy third-quarter figures. Dillard's posted a 13-basis-point increase in retail gross margins, which was a drastic turnaround from the second-quarter decline of 319 basis points. Comparable-store sales were flat, which was another sequential improvement from the 2% second-quarter decline. CEO William T. Dillard II said in a press release, "While we were not satisfied with the third quarter, it was a substantial improvement over the second quarter."
Image source: Getty Images.
Now what
DDS data by YCharts.
As you can see in the graphic above, compared with other department store retailers, Dillard's stock has performed better in the face of industry headwinds. Today's pop in stock price was a nice change of pace for investors, but the results are far from spectacular, even if better than expected. Time will tell if the retailer can continue to outperform its competitors, but investors would be wise to expect tariff uncertainty, slow foot traffic, e-commerce challenges, and perhaps increased discounting to continue affecting the industry.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 1, 2019
Daniel Miller has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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What happened Shares of Dillard's (NYSE: DDS), one of the nation's largest department store retailers, soared over 24% Thursday morning after delivering a surprise third-quarter profit. Now what DDS data by YCharts. Dillard's posted a 13-basis-point increase in retail gross margins, which was a drastic turnaround from the second-quarter decline of 319 basis points.
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What happened Shares of Dillard's (NYSE: DDS), one of the nation's largest department store retailers, soared over 24% Thursday morning after delivering a surprise third-quarter profit. Now what DDS data by YCharts. So what Third-quarter revenue checked in at $1.42 billion, down from the prior year's $1.46 billion, but ahead of analysts' estimates that called for $1.41 billion.
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What happened Shares of Dillard's (NYSE: DDS), one of the nation's largest department store retailers, soared over 24% Thursday morning after delivering a surprise third-quarter profit. Now what DDS data by YCharts. 10 stocks we like better than Dillard's When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
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What happened Shares of Dillard's (NYSE: DDS), one of the nation's largest department store retailers, soared over 24% Thursday morning after delivering a surprise third-quarter profit. Now what DDS data by YCharts. Net income checked in at $5.5 million, or $0.22 per share, which was again below the prior year's $7.4 million, or $0.27 per share, but ahead of analysts who called for a $0.29 loss per share.
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b50b037c-7222-4f38-aad6-099d13bcf8e7
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719565.0
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2019-11-12 00:00:00 UTC
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Mall Traffic Is Rising, but Department Stores May Still Be Doomed
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DDS
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https://www.nasdaq.com/articles/mall-traffic-is-rising-but-department-stores-may-still-be-doomed-2019-11-12
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nan
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nan
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The symbiotic relationship between department stores and the malls they anchor isn't exactly a secret. Mall managers rely on major chains to drive foot traffic, and department stores count on mall operators to keep smaller tenants in place to meet the specialized needs larger players can't. Indeed, the massive growth of iconic outfits like Macy's (NYSE: M), J.C. Penney (NYSE: JCP), and Dillard's (NYSE: DDS) between the 1970s and 1990s went hand in hand with the establishment of shopping malls, which at that point were becoming fixtures of America's cultural identity.
Shopping has evolved, of course. The advent of e-commerce options has made it easier to avoid the time-consuming hassle of the mall, cutting department store revenue nearly in half since 2000. Smart department stores have adapted by turning some of their spaces into entertainment and even dining venues. It's working, too. But fresh data suggests these innovations are not yet common enough or effective enough to alter the department store industry's deteriorating trajectory.
Fun, food, and frills
The new Nordstrom (NYSE: JWN) store in New York City offers the apparel selection one would normally expect to see in a department store, but that's hardly where customers' options end. The recently opened locale boasts four different restaurants, two bars, and will even bring food to you while you're shopping. At the same time, the JCPenney store at North East Mall in Hurst, Texas, has been reconfigured with spacious lounging areas, a fitness studio, a cafe, a barbershop, and more. CEO Jill Soltau says the new shtick is "the fullest articulation of our brand strategy and we're going to use [it] as a lab."
Image Source: Getty Images.
It's not just department store chains embracing the concept, though. Malls are getting in on the act too. The American Dream Mall at the Meadowlands in New Jersey recently unveiled its indoor theme park -- complete with roller coasters, an indoor ski slope, and an ice skating rink.
They're all microcosms of the new normal in the department store business, reflective of entertainment- and amenity-hungry consumers. But they may still not be enough to draw shoppers into stores and induce actual purchases.
Survey: Department store foot traffic is declining
That's the concern raised by a recent UBS survey of 2,500 consumers, anyway. The organization found that the percentage of respondents who go to a mall specifically to shop at a department store fell from 25% a year ago to only 20% now.
Where are they going? "Shoppers say they increasingly go to the mall to eat at the food court or just hang out instead of visiting a big box store," explained UBS analyst Jay Sole. He goes on to say, "Since the mall is no longer the place consumers discover fashion, it makes sense the reasons they visit the mall are changing." The number of consumers who specifically go to the mall to eat is still only a modest 7%, though that's up from 4% at this time last year.
The internet isn't helping, obviously, as more consumers learn how to buy clothes online, and that shift is only going to become tougher for brick-and-mortar chains. Roughly one-fourth of apparel shopping is now done online. By 2023, that figure is expected to be closer to one-third.
UBS says all the underlying trends work against all department stores, though it specifically named middle-class/middle-income venues Macy's and J.C. Penney as being particularly vulnerable.
More sales-driving innovation is needed
To its credit, the department store industry is on the right track. Adding restaurants to the mix is a bold step to be sure, as is introducing services like haircuts and styling help. But as HeadCount Corp. CEO Mark Ryski commented in retail industry trade publication RetailWire, "Traffic for the sake of traffic does retailers no good." His prescription for players like Macy's, Penney's and Nordstrom? "Food courts, waterparks and skating rinks are all well and good, but retailers need to provide shoppers with reasons to visit their stores, and not just rely on mall walkers to stumble upon their stores."
What that specifically looks like is still mostly unknown. Consumers just seem to be saying, with dollars, that they've not seen it yet.
10 stocks we like better than J.C. Penney
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and J.C. Penney wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 1, 2019
James Brumley has no position in any of the stocks mentioned. The Motley Fool recommends Nordstrom. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Indeed, the massive growth of iconic outfits like Macy's (NYSE: M), J.C. Penney (NYSE: JCP), and Dillard's (NYSE: DDS) between the 1970s and 1990s went hand in hand with the establishment of shopping malls, which at that point were becoming fixtures of America's cultural identity. The advent of e-commerce options has made it easier to avoid the time-consuming hassle of the mall, cutting department store revenue nearly in half since 2000. At the same time, the JCPenney store at North East Mall in Hurst, Texas, has been reconfigured with spacious lounging areas, a fitness studio, a cafe, a barbershop, and more.
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Indeed, the massive growth of iconic outfits like Macy's (NYSE: M), J.C. Penney (NYSE: JCP), and Dillard's (NYSE: DDS) between the 1970s and 1990s went hand in hand with the establishment of shopping malls, which at that point were becoming fixtures of America's cultural identity. Mall managers rely on major chains to drive foot traffic, and department stores count on mall operators to keep smaller tenants in place to meet the specialized needs larger players can't. Survey: Department store foot traffic is declining That's the concern raised by a recent UBS survey of 2,500 consumers, anyway.
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Indeed, the massive growth of iconic outfits like Macy's (NYSE: M), J.C. Penney (NYSE: JCP), and Dillard's (NYSE: DDS) between the 1970s and 1990s went hand in hand with the establishment of shopping malls, which at that point were becoming fixtures of America's cultural identity. Mall managers rely on major chains to drive foot traffic, and department stores count on mall operators to keep smaller tenants in place to meet the specialized needs larger players can't. Fun, food, and frills The new Nordstrom (NYSE: JWN) store in New York City offers the apparel selection one would normally expect to see in a department store, but that's hardly where customers' options end.
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Indeed, the massive growth of iconic outfits like Macy's (NYSE: M), J.C. Penney (NYSE: JCP), and Dillard's (NYSE: DDS) between the 1970s and 1990s went hand in hand with the establishment of shopping malls, which at that point were becoming fixtures of America's cultural identity. Mall managers rely on major chains to drive foot traffic, and department stores count on mall operators to keep smaller tenants in place to meet the specialized needs larger players can't. The number of consumers who specifically go to the mall to eat is still only a modest 7%, though that's up from 4% at this time last year.
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88daab17-fed3-4db2-8160-f817ca25c262
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719566.0
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2019-11-08 00:00:00 UTC
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Dillard's Is Struggling -- So Why Does It Keep Opening New Stores?
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DDS
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https://www.nasdaq.com/articles/dillards-is-struggling-so-why-does-it-keep-opening-new-stores-2019-11-08
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nan
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nan
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It's no secret that department stores have been struggling to adapt to falling mall traffic and growing competition from off-price and pure e-commerce competitors. Two major department store operators filed for bankruptcy last year: Bon-Ton and Sears Holdings. Several others have closed lots of stores over the past few years.
Dillard's (NYSE: DDS) certainly hasn't been immune to the recent pressure on the department store sector. Nevertheless, the regional chain has continued to open new stores at a slow but steady pace. Perhaps executives see opportunities in markets that rivals have exited -- but this could also be an example of empire-building by management at the expense of third-party shareholders.
Dillard's has suffered massive margin erosion
As I noted earlier this year, Dillard's adjusted pre-tax profit margin surpassed 7% in fiscal 2013 and fiscal 2014 but crashed to just 3.2% last year.
The company's margin woes have continued in fiscal 2019. In the first half of the year, comp sales declined 1% year over year. To make matters worse, Dillard's entered the period with too much inventory, so gross margin plummeted by more than 2 percentage points. As a result, Dillard's adjusted pre-tax margin fell to a razor-thin 1.2%, versus 3.3% in the first half of fiscal 2018.
On the bright side, it exited the second quarter with inventory flat on a year-over-year basis. That could lead to a little less margin pressure -- although Dillard's is probably still carrying too much inventory. In any case, it doesn't appear to have a viable plan to reverse the recent trend of margin erosion. Its long-term revenue outlook is also poor. Unlike rivals such as Kohl's and Macy's, the company hasn't invested much in technology and doesn't have a clear omnichannel strategy.
Profitability has plunged over the past few years at Dillard's. Image source: author.
Yet Dillard's keeps growing
Given that Dillard's existing business is barely profitable -- and consumer spending is steadily shifting toward e-commerce -- opening more stores wouldn't seem like a wise investment. But that's exactly what Dillard's has been doing.
In June, it opened a second store at the Southgate Mall in Missoula, Montana. It will do the same at the Columbia Mall in Columbia, Missouri, next year. Meanwhile, Dillard's has agreed to enter the Grand Junction, Colorado, market for the first time, opening a store at the Mesa Mall in 2020. It was also supposed to open a store at the Empire Mall in Sioux Falls, South Dakota, this fall, although that project appears to have been delayed (or possibly canceled). Finally, around the time of Bon-Ton's bankruptcy last year, Dillard's considered opening several stores in Wisconsin. It has put that on the back burner, though.
In addition to opening these new stores, Dillard's is also spending a tidy sum to relocate stores at several malls in Texas into larger spaces formerly occupied by Sears. The first of those relocated stores opened earlier this year, with the others slated to open in 2020 and beyond.
What is management thinking?
Most of Dillard's new and expanded stores are in markets the department store chain already serves. So management ought to have pretty good data about demand there, reducing the risk of those projects. Opening stores in new markets seems like a more dubious proposition, but perhaps the company's market research showed a clear opportunity in those cities.
Shareholders can take comfort in the fact that most of Dillard's top executives are members of the founding Dillard family. They all own substantial stakes in the company and thus have a financial incentive to make sound decisions that will boost shareholder value. It's also true that while Dillard's is still opening stores in some markets, it has also closed a handful of underperforming locations in recent years.
On the other hand, high insider stock ownership is not a guarantee of good decision making. For example, Dillard's lack of investment in e-commerce -- the chain doesn't even have a mobile app -- seems incredibly shortsighted. Additionally, members of the Dillard family may have a bias toward expansion because of the prestige they get from having their name on a major department store chain.
It's certainly possible that this ongoing expansion will pay off. Still, expanding stores and adding new ones in an environment where margins are plunging and there's a meaningful risk of a recession in the next year or two doesn't seem like a prudent strategy.
10 stocks we like better than Dillard's
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*Stock Advisor returns as of June 1, 2019
Adam Levine-Weinberg owns shares of Kohl's and Macy's and is long January 2021 $13 calls on Macy's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's (NYSE: DDS) certainly hasn't been immune to the recent pressure on the department store sector. It's no secret that department stores have been struggling to adapt to falling mall traffic and growing competition from off-price and pure e-commerce competitors. Meanwhile, Dillard's has agreed to enter the Grand Junction, Colorado, market for the first time, opening a store at the Mesa Mall in 2020.
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Dillard's (NYSE: DDS) certainly hasn't been immune to the recent pressure on the department store sector. Dillard's has suffered massive margin erosion As I noted earlier this year, Dillard's adjusted pre-tax profit margin surpassed 7% in fiscal 2013 and fiscal 2014 but crashed to just 3.2% last year. Finally, around the time of Bon-Ton's bankruptcy last year, Dillard's considered opening several stores in Wisconsin.
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Dillard's (NYSE: DDS) certainly hasn't been immune to the recent pressure on the department store sector. Dillard's has suffered massive margin erosion As I noted earlier this year, Dillard's adjusted pre-tax profit margin surpassed 7% in fiscal 2013 and fiscal 2014 but crashed to just 3.2% last year. Yet Dillard's keeps growing Given that Dillard's existing business is barely profitable -- and consumer spending is steadily shifting toward e-commerce -- opening more stores wouldn't seem like a wise investment.
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Dillard's (NYSE: DDS) certainly hasn't been immune to the recent pressure on the department store sector. In the first half of the year, comp sales declined 1% year over year. But that's exactly what Dillard's has been doing.
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e8489758-ac24-4cce-a811-cc9f7f8471d2
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719567.0
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2019-10-09 00:00:00 UTC
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Noteworthy Wednesday Option Activity: HAIN, DDS, HES
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DDS
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https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-hain-dds-hes-2019-10-09
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Hain Celestial Group Inc (Symbol: HAIN), where a total of 4,591 contracts have traded so far, representing approximately 459,100 underlying shares. That amounts to about 45.3% of HAIN's average daily trading volume over the past month of 1.0 million shares. Particularly high volume was seen for the $20 strike put option expiring February 21, 2020, with 2,248 contracts trading so far today, representing approximately 224,800 underlying shares of HAIN. Below is a chart showing HAIN's trailing twelve month trading history, with the $20 strike highlighted in orange:
Dillard's Inc. (Symbol: DDS) saw options trading volume of 2,501 contracts, representing approximately 250,100 underlying shares or approximately 43.8% of DDS's average daily trading volume over the past month, of 570,640 shares. Particularly high volume was seen for the $47.50 strike put option expiring November 15, 2019, with 1,127 contracts trading so far today, representing approximately 112,700 underlying shares of DDS. Below is a chart showing DDS's trailing twelve month trading history, with the $47.50 strike highlighted in orange:
And Hess Corp (Symbol: HES) saw options trading volume of 14,151 contracts, representing approximately 1.4 million underlying shares or approximately 43.7% of HES's average daily trading volume over the past month, of 3.2 million shares. Particularly high volume was seen for the $60 strike put option expiring October 18, 2019, with 6,509 contracts trading so far today, representing approximately 650,900 underlying shares of HES. Below is a chart showing HES's trailing twelve month trading history, with the $60 strike highlighted in orange:
For the various different available expirations for HAIN options, DDS options, or HES options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $47.50 strike put option expiring November 15, 2019, with 1,127 contracts trading so far today, representing approximately 112,700 underlying shares of DDS. Below is a chart showing HAIN's trailing twelve month trading history, with the $20 strike highlighted in orange: Dillard's Inc. (Symbol: DDS) saw options trading volume of 2,501 contracts, representing approximately 250,100 underlying shares or approximately 43.8% of DDS's average daily trading volume over the past month, of 570,640 shares. Below is a chart showing DDS's trailing twelve month trading history, with the $47.50 strike highlighted in orange: And Hess Corp (Symbol: HES) saw options trading volume of 14,151 contracts, representing approximately 1.4 million underlying shares or approximately 43.7% of HES's average daily trading volume over the past month, of 3.2 million shares.
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Below is a chart showing HAIN's trailing twelve month trading history, with the $20 strike highlighted in orange: Dillard's Inc. (Symbol: DDS) saw options trading volume of 2,501 contracts, representing approximately 250,100 underlying shares or approximately 43.8% of DDS's average daily trading volume over the past month, of 570,640 shares. Below is a chart showing DDS's trailing twelve month trading history, with the $47.50 strike highlighted in orange: And Hess Corp (Symbol: HES) saw options trading volume of 14,151 contracts, representing approximately 1.4 million underlying shares or approximately 43.7% of HES's average daily trading volume over the past month, of 3.2 million shares. Below is a chart showing HES's trailing twelve month trading history, with the $60 strike highlighted in orange: For the various different available expirations for HAIN options, DDS options, or HES options, visit StockOptionsChannel.com.
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Below is a chart showing HAIN's trailing twelve month trading history, with the $20 strike highlighted in orange: Dillard's Inc. (Symbol: DDS) saw options trading volume of 2,501 contracts, representing approximately 250,100 underlying shares or approximately 43.8% of DDS's average daily trading volume over the past month, of 570,640 shares. Below is a chart showing DDS's trailing twelve month trading history, with the $47.50 strike highlighted in orange: And Hess Corp (Symbol: HES) saw options trading volume of 14,151 contracts, representing approximately 1.4 million underlying shares or approximately 43.7% of HES's average daily trading volume over the past month, of 3.2 million shares. Particularly high volume was seen for the $47.50 strike put option expiring November 15, 2019, with 1,127 contracts trading so far today, representing approximately 112,700 underlying shares of DDS.
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Below is a chart showing HAIN's trailing twelve month trading history, with the $20 strike highlighted in orange: Dillard's Inc. (Symbol: DDS) saw options trading volume of 2,501 contracts, representing approximately 250,100 underlying shares or approximately 43.8% of DDS's average daily trading volume over the past month, of 570,640 shares. Particularly high volume was seen for the $47.50 strike put option expiring November 15, 2019, with 1,127 contracts trading so far today, representing approximately 112,700 underlying shares of DDS. Below is a chart showing DDS's trailing twelve month trading history, with the $47.50 strike highlighted in orange: And Hess Corp (Symbol: HES) saw options trading volume of 14,151 contracts, representing approximately 1.4 million underlying shares or approximately 43.7% of HES's average daily trading volume over the past month, of 3.2 million shares.
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982e6858-3492-4289-a524-3785b31d7c3d
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719568.0
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2019-09-30 00:00:00 UTC
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Notable Monday Option Activity: DDS, GRUB, MDB
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DDS
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https://www.nasdaq.com/articles/notable-monday-option-activity%3A-dds-grub-mdb-2019-09-30
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nan
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nan
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Dillard's Inc. (Symbol: DDS), where a total of 2,886 contracts have traded so far, representing approximately 288,600 underlying shares. That amounts to about 44.9% of DDS's average daily trading volume over the past month of 642,640 shares. Particularly high volume was seen for the $60 strike put option expiring November 15, 2019, with 1,047 contracts trading so far today, representing approximately 104,700 underlying shares of DDS. Below is a chart showing DDS's trailing twelve month trading history, with the $60 strike highlighted in orange:
GrubHub Inc (Symbol: GRUB) saw options trading volume of 8,058 contracts, representing approximately 805,800 underlying shares or approximately 44.2% of GRUB's average daily trading volume over the past month, of 1.8 million shares. Especially high volume was seen for the $50 strike put option expiring November 15, 2019, with 2,118 contracts trading so far today, representing approximately 211,800 underlying shares of GRUB. Below is a chart showing GRUB's trailing twelve month trading history, with the $50 strike highlighted in orange:
And MongoDB Inc (Symbol: MDB) saw options trading volume of 9,109 contracts, representing approximately 910,900 underlying shares or approximately 42.6% of MDB's average daily trading volume over the past month, of 2.1 million shares. Especially high volume was seen for the $110 strike put option expiring October 04, 2019, with 676 contracts trading so far today, representing approximately 67,600 underlying shares of MDB. Below is a chart showing MDB's trailing twelve month trading history, with the $110 strike highlighted in orange:
For the various different available expirations for DDS options, GRUB options, or MDB options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Particularly high volume was seen for the $60 strike put option expiring November 15, 2019, with 1,047 contracts trading so far today, representing approximately 104,700 underlying shares of DDS. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Dillard's Inc. (Symbol: DDS), where a total of 2,886 contracts have traded so far, representing approximately 288,600 underlying shares. That amounts to about 44.9% of DDS's average daily trading volume over the past month of 642,640 shares.
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Particularly high volume was seen for the $60 strike put option expiring November 15, 2019, with 1,047 contracts trading so far today, representing approximately 104,700 underlying shares of DDS. Below is a chart showing DDS's trailing twelve month trading history, with the $60 strike highlighted in orange: GrubHub Inc (Symbol: GRUB) saw options trading volume of 8,058 contracts, representing approximately 805,800 underlying shares or approximately 44.2% of GRUB's average daily trading volume over the past month, of 1.8 million shares. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Dillard's Inc. (Symbol: DDS), where a total of 2,886 contracts have traded so far, representing approximately 288,600 underlying shares.
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Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Dillard's Inc. (Symbol: DDS), where a total of 2,886 contracts have traded so far, representing approximately 288,600 underlying shares. Below is a chart showing DDS's trailing twelve month trading history, with the $60 strike highlighted in orange: GrubHub Inc (Symbol: GRUB) saw options trading volume of 8,058 contracts, representing approximately 805,800 underlying shares or approximately 44.2% of GRUB's average daily trading volume over the past month, of 1.8 million shares. That amounts to about 44.9% of DDS's average daily trading volume over the past month of 642,640 shares.
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Below is a chart showing DDS's trailing twelve month trading history, with the $60 strike highlighted in orange: GrubHub Inc (Symbol: GRUB) saw options trading volume of 8,058 contracts, representing approximately 805,800 underlying shares or approximately 44.2% of GRUB's average daily trading volume over the past month, of 1.8 million shares. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Dillard's Inc. (Symbol: DDS), where a total of 2,886 contracts have traded so far, representing approximately 288,600 underlying shares. That amounts to about 44.9% of DDS's average daily trading volume over the past month of 642,640 shares.
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b3d78805-a1ee-456f-8d0e-b18c98fceb80
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719569.0
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2019-08-23 00:00:00 UTC
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Daily Dividend Report: MO, DDS, HD, MDT, NOC
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DDS
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https://www.nasdaq.com/articles/daily-dividend-report%3A-mo-dds-hd-mdt-noc-2019-08-23
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nan
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nan
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Altria Group (MO) approved a dividend increase to $0.84 per common share versus the previous rate of $0.80 per common share. The quarterly dividend is payable on October 10, 2019, to shareholders of record as of September 16, 2019. The ex-dividend date is September 13, 2019.
Dillard's (DDS) declared a cash dividend of $0.15 per share, a 50% increase over the most recent $0.10 dividend. The dividend is payable on the Company's Class A and Class B Common Stock on November 4, 2019 to shareholders of record as of September 30, 2019.
The Home Depot declared a second quarter cash dividend of $1.36 per share. The dividend is payable on September 19, 2019, to shareholders of record on the close of business on September 5, 2019.
Medtronic (MDT) approved the fiscal year 2020 second quarter cash dividend of $0.54 per ordinary share, representing an 8 percent increase over the prior year. The dividend is payable on October 18, 2019, to shareholders of record at the close of business on September 27, 2019.
Northrop Grumman Corporation (NOC) declared a quarterly dividend of $1.32 per share on Northrop Grumman common stock, payable Sept. 25, 2019, to shareholders of record as of the close of business Sept. 9, 2019.
VIDEO: Daily Dividend Report: MO, DDS, HD, MDT, NOC
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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VIDEO: Daily Dividend Report: MO, DDS, HD, MDT, NOC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Dillard's (DDS) declared a cash dividend of $0.15 per share, a 50% increase over the most recent $0.10 dividend. The dividend is payable on October 18, 2019, to shareholders of record at the close of business on September 27, 2019.
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VIDEO: Daily Dividend Report: MO, DDS, HD, MDT, NOC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Dillard's (DDS) declared a cash dividend of $0.15 per share, a 50% increase over the most recent $0.10 dividend. Altria Group (MO) approved a dividend increase to $0.84 per common share versus the previous rate of $0.80 per common share.
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Dillard's (DDS) declared a cash dividend of $0.15 per share, a 50% increase over the most recent $0.10 dividend. VIDEO: Daily Dividend Report: MO, DDS, HD, MDT, NOC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The dividend is payable on the Company's Class A and Class B Common Stock on November 4, 2019 to shareholders of record as of September 30, 2019.
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Dillard's (DDS) declared a cash dividend of $0.15 per share, a 50% increase over the most recent $0.10 dividend. VIDEO: Daily Dividend Report: MO, DDS, HD, MDT, NOC The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The quarterly dividend is payable on October 10, 2019, to shareholders of record as of September 16, 2019.
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c29c6b31-26e6-4b80-ab76-6e79c9600d6e
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719570.0
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2019-08-19 00:00:00 UTC
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Dillard's Stock Shakes Off a Dreadful Earnings Report
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DDS
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https://www.nasdaq.com/articles/dillards-stock-shakes-off-a-dreadful-earnings-report-2019-08-20
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nan
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Shares of Macy's (NYSE: M) plunged 18% last week, with most of the damage coming after the company reported a sharp drop in profit for the second quarter of fiscal 2019. While comparable-store sales inched up 0.3%, a 60% decline in earnings per share (excluding special items) caused many investors to worry that Macy's ambitious turnaround plan has failed.
By contrast, shares of regional department store chain Dillard's (NYSE: DDS) fell by only 10% last week. What's more, Dillard's stock fell just slightly on Friday, even though the company reported truly awful results for the second quarter after the market closed on Thursday.
Dillard's vs. Macy's stock performance. Data by YCharts.
It's not clear why Dillard's stock fared so much better than Macy's shares last week. Perhaps it was because Dillard's earnings release garnered very little media attention compared to that of its larger rival. Regardless, the weak earnings report makes it clear that investors should steer clear of Dillard's.
Profitability has been sliding for years
In fiscal 2013 and fiscal 2014, Dillard's adjusted pre-tax margin (excluding asset impairment charges and real estate gains) exceeded 7%. However, in the following years, profitability moved steadily lower. By fiscal 2017, the company's pre-tax margin stood at just 3.3%.
Like Macy's and many other department store chains, Dillard's posted better results in fiscal 2018. Comp sales rose 2% last year, and Dillard's pre-tax margin stayed roughly steady at 3.2%. Adjusted EPS jumped to $6.12 from about $4.80 a year earlier, driven primarily by the reduction of the federal corporate tax rate and share buybacks.
However, Dillard's growth ground to a halt again in the first quarter of fiscal 2019. The company's flat comp sales performance lagged Macy's 0.7% increase for the same quarter. Furthermore, its retail gross margin fell by 1.4 percentage points, nearly twice as much as what Macy's experienced.
Dillard's has suffered severe margin compression in recent years. Image source: Dillard's.
The earnings trajectory takes a turn for the worse
Dillard's entered 2019 with too much inventory, and weak sales during Q1 meant that it exited the quarter with an equally problematic inventory glut. This set the stage for Dillard's dreadful financial performance last quarter.
Sales trends slowed further, with comp sales down 2% year over year (compared to a 0.3% increase at Macy's). Moreover, while investors were spooked by Macy's 1.6 percentage point gross margin decline last quarter, Dillard's retail gross margin plummeted by twice that amount.
As a result, Dillard's adjusted pre-tax margin fell to negative 3.9% last quarter, compared to negative 0.3% in the prior-year period. The department store operator's adjusted loss per share widened to $1.74 from $0.10 a year earlier. Analysts had been expecting a much smaller loss of about $0.70 per share.
On a year-to-date basis, adjusted EPS has plunged 61% to $1.09 at Dillard's. That was far worse than Macy's 40% adjusted EPS decline over the same period. The only decent news in Dillard's recent earnings report was that inventory was flat year over year by the end of the quarter. Even that is less impressive than it sounds, as Dillard's had far too much inventory at this time last year, leading to big markdowns and gross margin erosion in the third quarter of 2018.
Investors should avoid this dying department store chain
It's possible that Dillard's performance will bounce back sometime in the next few quarters. But investors shouldn't count on it. Dillard's has typically limited capex to less than $150 million annually in recent years, about 2% of revenue. By contrast, Macy's has been spending about $1 billion a year, or roughly 4% of its annual revenue. In other words, while Macy's has been investing heavily in its stores and e-commerce business to drive better results, Dillard's has cut capex to the bone, preferring to put its cash toward share buybacks.
Capital expenditures for Dillard's and Macy's. Data by YCharts.
In the short run, these share buybacks -- along with high insider ownership and the company's substantial pool of real estate assets -- could keep Dillard's stock afloat. However, most of Dillard's real estate isn't worth very much. Moreover, the Dillard family's large stake in the retailer means that other shareholders have very little say in the company's decisions.
With the collapse in Dillard's profitability showing no signs of abating, investors should avoid Dillard's stock. Macy's has a much better chance of turning itself around, due to its greater scale, better real estate, and the growth investments that management has made over the past few years.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 1, 2019
Adam Levine-Weinberg owns shares of Macy's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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By contrast, shares of regional department store chain Dillard's (NYSE: DDS) fell by only 10% last week. While comparable-store sales inched up 0.3%, a 60% decline in earnings per share (excluding special items) caused many investors to worry that Macy's ambitious turnaround plan has failed. In other words, while Macy's has been investing heavily in its stores and e-commerce business to drive better results, Dillard's has cut capex to the bone, preferring to put its cash toward share buybacks.
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By contrast, shares of regional department store chain Dillard's (NYSE: DDS) fell by only 10% last week. Profitability has been sliding for years In fiscal 2013 and fiscal 2014, Dillard's adjusted pre-tax margin (excluding asset impairment charges and real estate gains) exceeded 7%. Moreover, while investors were spooked by Macy's 1.6 percentage point gross margin decline last quarter, Dillard's retail gross margin plummeted by twice that amount.
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By contrast, shares of regional department store chain Dillard's (NYSE: DDS) fell by only 10% last week. It's not clear why Dillard's stock fared so much better than Macy's shares last week. Moreover, while investors were spooked by Macy's 1.6 percentage point gross margin decline last quarter, Dillard's retail gross margin plummeted by twice that amount.
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By contrast, shares of regional department store chain Dillard's (NYSE: DDS) fell by only 10% last week. Dillard's vs. Macy's stock performance. Profitability has been sliding for years In fiscal 2013 and fiscal 2014, Dillard's adjusted pre-tax margin (excluding asset impairment charges and real estate gains) exceeded 7%.
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ab7ad10a-a3a8-43eb-9942-8919251c4b51
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719571.0
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2019-08-16 00:00:00 UTC
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Consumer Sector Update for 08/16/2019: JD,WMT,CPRI,CRMT,DDS
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DDS
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https://www.nasdaq.com/articles/consumer-sector-update-for-08-16-2019%3A-jdwmtcpricrmtdds-2019-08-16
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nan
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Top Consumer Stocks
WMT +0.13%
MCD -0.08%
DIS +1.06%
CVS +2.07%
KO +0.65%
Consumer stocks firmed this afternoon, with shares of consumer staples companies in the S&P 500 climbing more than 0.9% this afternoon while shares of consumer discretionary firms in the S&P 500 gained more than 1.1%.
Among consumer stocks moving on news:
(+) JD.com (JD) was nearly 4% higher in late trade following reports its Dada-JD Daojia joint venture with Walmart (WMT) is looking to raise around $500 million in an US IPO next May, two sources familiar with the matter told The Information. JD.com owns 90% of the online supermarket and the sources said its talks with investment bankers were still in the early stages, adding the amount the company expects to raise and the timing of the IPO may change.
In other sector news:
(+) Capri Holdings (CPRI) rose almost 5% after a new regulatory filing showed board chairman and CEO John Idol converted 50,178 restricted stock units at $28.29 apiece into common stock and exercised employee stock options to buy another 312,822 shares at $27.35 each. Overall, Idol spent $9.98 million to increase his direct stake in the apparel company to almost 1.41 million shares.
(-) America's Car-Mart (CRMT) rose nearly 1% on Friday after the US vehicle retailer late Thursday reported fiscal Q1 net income exceeding Wall Street expectations. The company earned $2.21 per share during the three months ended July 31 compared with a $1.51 per share profit during the same quarter last year, topping the Capital IQ consensus expecting $1.73 per share.
(-) Dillard's (DDS) declined 3.7% after the department-store retailer after hours Thursday missed analyst estimates with its Q2 financial result, posting a $1.59 per share net loss during the 13 weeks ended Aug. 3 on $1.46 billion in sales, lagging the Capital IQ consensus expecting a $0.71 per share net loss on $1.48 billion in sales.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(-) Dillard's (DDS) declined 3.7% after the department-store retailer after hours Thursday missed analyst estimates with its Q2 financial result, posting a $1.59 per share net loss during the 13 weeks ended Aug. 3 on $1.46 billion in sales, lagging the Capital IQ consensus expecting a $0.71 per share net loss on $1.48 billion in sales. Among consumer stocks moving on news: (+) JD.com (JD) was nearly 4% higher in late trade following reports its Dada-JD Daojia joint venture with Walmart (WMT) is looking to raise around $500 million in an US IPO next May, two sources familiar with the matter told The Information. JD.com owns 90% of the online supermarket and the sources said its talks with investment bankers were still in the early stages, adding the amount the company expects to raise and the timing of the IPO may change.
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(-) Dillard's (DDS) declined 3.7% after the department-store retailer after hours Thursday missed analyst estimates with its Q2 financial result, posting a $1.59 per share net loss during the 13 weeks ended Aug. 3 on $1.46 billion in sales, lagging the Capital IQ consensus expecting a $0.71 per share net loss on $1.48 billion in sales. Consumer stocks firmed this afternoon, with shares of consumer staples companies in the S&P 500 climbing more than 0.9% this afternoon while shares of consumer discretionary firms in the S&P 500 gained more than 1.1%. The company earned $2.21 per share during the three months ended July 31 compared with a $1.51 per share profit during the same quarter last year, topping the Capital IQ consensus expecting $1.73 per share.
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(-) Dillard's (DDS) declined 3.7% after the department-store retailer after hours Thursday missed analyst estimates with its Q2 financial result, posting a $1.59 per share net loss during the 13 weeks ended Aug. 3 on $1.46 billion in sales, lagging the Capital IQ consensus expecting a $0.71 per share net loss on $1.48 billion in sales. Consumer stocks firmed this afternoon, with shares of consumer staples companies in the S&P 500 climbing more than 0.9% this afternoon while shares of consumer discretionary firms in the S&P 500 gained more than 1.1%. The company earned $2.21 per share during the three months ended July 31 compared with a $1.51 per share profit during the same quarter last year, topping the Capital IQ consensus expecting $1.73 per share.
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(-) Dillard's (DDS) declined 3.7% after the department-store retailer after hours Thursday missed analyst estimates with its Q2 financial result, posting a $1.59 per share net loss during the 13 weeks ended Aug. 3 on $1.46 billion in sales, lagging the Capital IQ consensus expecting a $0.71 per share net loss on $1.48 billion in sales. Top Consumer Stocks Among consumer stocks moving on news: (+) JD.com (JD) was nearly 4% higher in late trade following reports its Dada-JD Daojia joint venture with Walmart (WMT) is looking to raise around $500 million in an US IPO next May, two sources familiar with the matter told The Information.
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faf9731e-82c2-4dfa-a6c2-2a93bf9e8014
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719572.0
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2019-08-16 00:00:00 UTC
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Consumer Sector Update for 08/16/2019: DDS, ZTO, WMT, MCD, DIS, CVS, KO
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DDS
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https://www.nasdaq.com/articles/consumer-sector-update-for-08-16-2019%3A-dds-zto-wmt-mcd-dis-cvs-ko-2019-08-16
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nan
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nan
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Top Consumer Stocks:
WMT: +0.28%
MCD: +0.54%
DIS: +0.85%
CVS: +0.61%
KO: +0.24%
Consumer heavyweights were climbing in Friday's pre-bell trading.
Stocks moving on news include:
(+) ZTO Express (ZTO), which was rising nearly 2% after reporting late Thursday Q2 adjusted profit of RMB1.74 ($0.25) per American depositary share, up from RMB1.52 per ADS in the prior-year period and higher than the RMB1.61 per ADS estimate provided by Capital IQ.
(-) Dillard's (DDS) was down 14% in pre-bell trade Thursday after the operator of retail department stores reported fiscal Q2 results that missed Wall Street expectations.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(-) Dillard's (DDS) was down 14% in pre-bell trade Thursday after the operator of retail department stores reported fiscal Q2 results that missed Wall Street expectations. Consumer heavyweights were climbing in Friday's pre-bell trading. Stocks moving on news include: (+) ZTO Express (ZTO), which was rising nearly 2% after reporting late Thursday Q2 adjusted profit of RMB1.74 ($0.25) per American depositary share, up from RMB1.52 per ADS in the prior-year period and higher than the RMB1.61 per ADS estimate provided by Capital IQ.
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(-) Dillard's (DDS) was down 14% in pre-bell trade Thursday after the operator of retail department stores reported fiscal Q2 results that missed Wall Street expectations. Stocks moving on news include: (+) ZTO Express (ZTO), which was rising nearly 2% after reporting late Thursday Q2 adjusted profit of RMB1.74 ($0.25) per American depositary share, up from RMB1.52 per ADS in the prior-year period and higher than the RMB1.61 per ADS estimate provided by Capital IQ. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(-) Dillard's (DDS) was down 14% in pre-bell trade Thursday after the operator of retail department stores reported fiscal Q2 results that missed Wall Street expectations. Stocks moving on news include: (+) ZTO Express (ZTO), which was rising nearly 2% after reporting late Thursday Q2 adjusted profit of RMB1.74 ($0.25) per American depositary share, up from RMB1.52 per ADS in the prior-year period and higher than the RMB1.61 per ADS estimate provided by Capital IQ. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(-) Dillard's (DDS) was down 14% in pre-bell trade Thursday after the operator of retail department stores reported fiscal Q2 results that missed Wall Street expectations. Top Consumer Stocks: Consumer heavyweights were climbing in Friday's pre-bell trading.
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53920289-50a6-4222-ba12-ae06a470cdf7
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719573.0
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2019-08-15 00:00:00 UTC
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Dillard's Q2 Results Miss Street, Shares Sink 14%
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DDS
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https://www.nasdaq.com/articles/dillards-q2-results-miss-street-shares-sink-14-2019-08-15
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nan
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nan
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(RTTNews) - Shares of Dillard's Inc. (DDS) plunged about 14% in the extended session Thursday after the company's second-quarter results missed Wall Street analysts' estimates.
Little Rock, Arkansas-based Dillard's second-quarter loss widened to $40.7 million or $1.59 a share from last year's loss of $2.9 million, or $0.10 a share.
Revenues for the quarter fell to $1.46 billion from $1.50 billion in the year-ago period.
Analysts polled by Thomson Reuters had estimated loss of $0.70 per share and revenues of $1.49 billion.
Comparable store sales decreased 2% against a 1% increase a year ago, while retail gross margin declined 319 basis points of sales.
DDS closed Thursday's trading at $56.59, down $2.17 or 3.69%, on the Nasdaq. The stock further dropped $8.07 or 14.26% on the NYSE.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Shares of Dillard's Inc. (DDS) plunged about 14% in the extended session Thursday after the company's second-quarter results missed Wall Street analysts' estimates. DDS closed Thursday's trading at $56.59, down $2.17 or 3.69%, on the Nasdaq. Analysts polled by Thomson Reuters had estimated loss of $0.70 per share and revenues of $1.49 billion.
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(RTTNews) - Shares of Dillard's Inc. (DDS) plunged about 14% in the extended session Thursday after the company's second-quarter results missed Wall Street analysts' estimates. DDS closed Thursday's trading at $56.59, down $2.17 or 3.69%, on the Nasdaq. Little Rock, Arkansas-based Dillard's second-quarter loss widened to $40.7 million or $1.59 a share from last year's loss of $2.9 million, or $0.10 a share.
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(RTTNews) - Shares of Dillard's Inc. (DDS) plunged about 14% in the extended session Thursday after the company's second-quarter results missed Wall Street analysts' estimates. DDS closed Thursday's trading at $56.59, down $2.17 or 3.69%, on the Nasdaq. Little Rock, Arkansas-based Dillard's second-quarter loss widened to $40.7 million or $1.59 a share from last year's loss of $2.9 million, or $0.10 a share.
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(RTTNews) - Shares of Dillard's Inc. (DDS) plunged about 14% in the extended session Thursday after the company's second-quarter results missed Wall Street analysts' estimates. DDS closed Thursday's trading at $56.59, down $2.17 or 3.69%, on the Nasdaq. Analysts polled by Thomson Reuters had estimated loss of $0.70 per share and revenues of $1.49 billion.
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e59f03cd-50c4-4729-9e52-595021c65da1
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719574.0
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2019-08-12 00:00:00 UTC
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Don't Buy Dillard's Stock Just for the Real Estate
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DDS
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https://www.nasdaq.com/articles/dont-buy-dillards-stock-just-for-the-real-estate-2019-08-12
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nan
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nan
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Shares of Dillard's (NYSE: DDS) skyrocketed 24% in a single day last month due to an apparent short squeeze. Reports that prominent hedge fund manager David Einhorn had invested in the company might have helped power this huge gain. In Greenlight Capital's second-quarter investor letter, Einhorn justified the purchase by noting that Dillard's has a strong balance sheet, is solidly profitable, buys back lots of stock, and -- most importantly -- owns a huge trove of real estate.
Over the past several weeks, Dillard's stock has surrendered all of the gains from that wild day of trading last month. That has created an opportunity to invest in Dillard's at a price similar to what Einhorn paid. However, buying Dillard's stock primarily because of its supposed real estate value doesn't seem like a smart move.
Dillard's Stock Year-to-Date Performance data by YCharts.
Dillard's does own a lot of real estate, but it may not be worth very much
Dillard's operates nearly 300 stores across the U.S., mainly in Sun Belt states. Only 26 of those stores are leased. Instead, the company owns the vast majority of its stores, with ground leases and part-owned buildings accounting for the remaining locations.
As of early February, Dillard's owned 44.3 million square feet of store real estate, as well as office, distribution, and storage space totaling nearly 4 million square feet. Einhorn claims that buying the stock around current levels is equivalent to buying the real estate for just $27 per square foot: a massive discount to the valuations applied to other department store chains like Macy's (NYSE: M) -- let alone mall giant Simon Property Group. (My own calculations put the effective price a little higher, at $35 to $40 per square foot.)
Einhorn isn't the first investor to buy Dillard's stock based on its real estate potential. Snow Park Capital Partners acquired a 2% stake in the company two years ago, based on the thesis that Dillard's real estate could be worth more than $200 per share. (Dillard's stock has gone nowhere since then.)
However, while Dillard's has a handful of stores in top-tier malls, most of its real estate isn't very desirable. For example, the company recently closed a store in Ohio and sold it for just under $9 million, or about $50 per square foot. Dillard's doesn't operate in markets like Boston, New York, Washington, D.C., Chicago, Los Angeles, San Francisco, or Seattle, where real estate is scarce and very expensive. By contrast, Macy's owns lots of real estate in all of those metro areas, including big downtown flagship stores in several of them.
Most Dillard's stores are located in markets in which real estate values are fairly modest. Image source: Author.
The general quality (or lack thereof) of Dillard's real estate can be seen from the low productivity of its stores. Sales per square foot came in at about $130 last year, compared to nearly $200 for Macy's. These figures do not adjust for e-commerce sales. Since some sales are made online, the actual productivity of the stores themselves is lower.
Profitability has been declining rapidly
While bulls appear to have an inflated view of Dillard's real estate value, investors like Einhorn are probably right that the real estate is worth more than Dillard's current enterprise value. If that were the end of the story, it might make sense to buy Dillard's stock. However, shareholders also own a retail company -- one that isn't doing very well.
Dillard's adjusted pre-tax margin has plunged from a recent peak of 7.6% in fiscal 2014 to 3.3% last year. So far, the company has shown no sign of margin stabilization. Its adjusted pre-tax margin fell by 0.7 percentage points in the first quarter of fiscal 2019.
Overall retail sales trends are likely to worsen over the next few years after being quite strong for the past couple of years. Moreover, given that Dillard's has been very stingy about investing in its business, there's no reason to expect a big turnaround sometime in the future. Investors have to weigh the risk that the business will eventually become unprofitable against the value of its real estate. A retail downturn could also make Dillard's mall-based real estate less valuable.
Insider ownership may not be a good thing
Bulls may be pinning their hopes on the idea that if Dillard's retail business takes a turn for the worse, the company can always pivot to monetizing its real estate instead. But just because Dillard's could follow that path doesn't mean that it actually would do so.
A solid majority of Dillard's stock is owned by members of the founding family (who are also active in the company's management) and the company's employees. That's much different than the situation at Macy's, which also has undervalued real estate but is mainly owned by profit-seeking institutional investors.
The family members and employees are unlikely to favor radically shrinking the Dillard's store base to cash in on its real estate value until they have no choice. The family gains prestige from having its name on a big retail chain, while employees will naturally want to protect their jobs.
If Dillard's retail operations unexpectedly return to sustainable profit growth, its stock is likely to soar. However, if the retail business continues to get worse, investors shouldn't expect the company's real estate value to buoy the stock.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 1, 2019
Adam Levine-Weinberg owns shares of Macy's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Shares of Dillard's (NYSE: DDS) skyrocketed 24% in a single day last month due to an apparent short squeeze. In Greenlight Capital's second-quarter investor letter, Einhorn justified the purchase by noting that Dillard's has a strong balance sheet, is solidly profitable, buys back lots of stock, and -- most importantly -- owns a huge trove of real estate. Dillard's doesn't operate in markets like Boston, New York, Washington, D.C., Chicago, Los Angeles, San Francisco, or Seattle, where real estate is scarce and very expensive.
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Shares of Dillard's (NYSE: DDS) skyrocketed 24% in a single day last month due to an apparent short squeeze. As of early February, Dillard's owned 44.3 million square feet of store real estate, as well as office, distribution, and storage space totaling nearly 4 million square feet. Einhorn isn't the first investor to buy Dillard's stock based on its real estate potential.
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Shares of Dillard's (NYSE: DDS) skyrocketed 24% in a single day last month due to an apparent short squeeze. Dillard's does own a lot of real estate, but it may not be worth very much Dillard's operates nearly 300 stores across the U.S., mainly in Sun Belt states. Einhorn isn't the first investor to buy Dillard's stock based on its real estate potential.
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Shares of Dillard's (NYSE: DDS) skyrocketed 24% in a single day last month due to an apparent short squeeze. Einhorn isn't the first investor to buy Dillard's stock based on its real estate potential. (Dillard's stock has gone nowhere since then.)
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191fd65c-f01e-46a9-ad85-5b1289a7631a
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719575.0
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2019-08-09 00:00:00 UTC
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DDS Makes Notable Cross Below Critical Moving Average
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DDS
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https://www.nasdaq.com/articles/dds-makes-notable-cross-below-critical-moving-average-2019-08-09
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nan
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nan
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In trading on Friday, shares of Dillard's Inc. (Symbol: DDS) crossed below their 200 day moving average of $67.07, changing hands as low as $63.35 per share. Dillard's Inc. shares are currently trading down about 6.3% on the day. The chart below shows the one year performance of DDS shares, versus its 200 day moving average:
Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $63.16.
Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of Dillard's Inc. (Symbol: DDS) crossed below their 200 day moving average of $67.07, changing hands as low as $63.35 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $63.16. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of Dillard's Inc. (Symbol: DDS) crossed below their 200 day moving average of $67.07, changing hands as low as $63.35 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $63.16. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of Dillard's Inc. (Symbol: DDS) crossed below their 200 day moving average of $67.07, changing hands as low as $63.35 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $63.16. Click here to find out which 9 other dividend stocks recently crossed below their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Friday, shares of Dillard's Inc. (Symbol: DDS) crossed below their 200 day moving average of $67.07, changing hands as low as $63.35 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $63.16. Dillard's Inc. shares are currently trading down about 6.3% on the day.
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af7241a8-0d0d-4d51-bf19-b2db29c98ef0
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719576.0
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2019-07-23 00:00:00 UTC
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Dillard's Stock Surged 24% on Friday: Investors Should Stay Away
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DDS
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https://www.nasdaq.com/articles/dillards-stock-surged-24-on-friday%3A-investors-should-stay-away-2019-07-23
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nan
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nan
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Shares of several department store operators, including Macy's (NYSE: M), rose last Friday, bouncing back from steep losses year to date. However, Dillard's (NYSE: DDS) shares took off over the course of the trading day, thanks to an apparent short squeeze.
Indeed, by the time the market closed on Friday afternoon, Dillard's stock had rocketed 24% higher, after rising as much as 26.5%. Shares of the regional department store chain retreated a bit on Monday but still sit closer to their 52-week high than to their 52-week low. However, investors shouldn't let themselves be sucked in by this sudden surge in Dillard's stock price. The company's fundamentals and long-term competitive positioning remain quite poor.
Dillard's Year-to-Date Stock Performance, data by YCharts.
Another short squeeze?
The Dillard family owns a substantial stake in their namesake company, limiting the "float" of shares available for everyday trading. Furthermore, lots of investors have bet against Dillard's in recent years, reflecting the struggles of the department store sector more broadly. As a result, a huge proportion of the float has been sold short by bearish investors.
This has made Dillard's stock vulnerable to short squeezes. Relatively modest levels of buying activity -- whether driven by positive news or something else -- can spark a chain reaction of sorts. A rising stock price can lead some of the "shorts" to buy the stock to cover their positions. That pushes the stock even higher, forcing even more shorts to buy the stock. This has happened periodically to Dillard's stock in recent years.
That said, even after the latest short squeeze, Dillard's shares have lost a third of their value over the past five years, compared to a gain of more than 50% for the broader market. Indeed, short squeezes can't make up for Dillard's poor long-term trajectory.
Dillard's doesn't have much of a strategy
Profitability has been eroding steadily at Dillard's in recent years. The company's adjusted pre-tax margin came in at just 3.3% last year, down from 7.6% in fiscal 2014. Its adjusted pre-tax margin fell by another 0.7 percentage points in the first quarter of fiscal 2019, as an inventory glut weighed on gross margin.
Dillard's pre-tax margin has been falling steadily in recent years. Image source: Author.
The real problem is that Dillard's isn't doing much to improve its position. The company has been closing a few underperforming locations, but that will have only a small impact on its profitability in the long run. And while Dillard's is known for having fairly attentive customer service and carries a better merchandise assortment than Macy's in many locations, management has been stingy about making investments that could boost growth.
Indeed, Dillard's has recently been spending about $140 million annually on capital expenditures, compared to Macy's nearly $1 billion. To be fair, Macy's is a larger company, but it is spending far more than Dillard's on a per-store basis, as well.
Macy's high capex budget is allowing it to pursue growth in multiple ways. It is remodeling its best stores, rolling out off-price sections in many locations, adding more technology to its stores to enhance the customer experience, and bolstering its e-commerce capabilities. Dillard's is practically standing still in comparison. For example, whereas Macy's has a highly rated mobile app that surpassed $1 billion in annual sales last year, Dillard's doesn't even have a mobile app.
In the short run, sales trends have been relatively comparable at Macy's and Dillard's. But in the long run, it seems quite likely that Dillard's reluctance to make bold investments in the business will catch up with the company.
The Dillard's stock surge won't last
Based on its Monday closing price of $77.93, Dillard's stock trades for 15 times the average analyst earnings estimate for fiscal 2019. That's a surprisingly high valuation for a company that has experienced steady earnings erosion in recent years. Analysts expect earnings per share to fall another 8% in fiscal 2020.
For comparison, Macy's stock trades for just seven times earnings. It, too, has experienced fairly steady margin erosion in recent years, but at least its aggressive growth investments offer some hope of a turnaround in the near future. Macy's also owns lots of valuable real estate that it is monetizing at a gradual pace, which provides some protection for investors.
There's no good reason for Dillard's stock to be trading at such a massive premium to Macy's stock. As a result, the stock's recent spike is likely to reverse before too long.
10 stocks we like better than Dillard's
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Dillard's wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 1, 2019
Adam Levine-Weinberg owns shares of Macy's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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However, Dillard's (NYSE: DDS) shares took off over the course of the trading day, thanks to an apparent short squeeze. Shares of several department store operators, including Macy's (NYSE: M), rose last Friday, bouncing back from steep losses year to date. And while Dillard's is known for having fairly attentive customer service and carries a better merchandise assortment than Macy's in many locations, management has been stingy about making investments that could boost growth.
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However, Dillard's (NYSE: DDS) shares took off over the course of the trading day, thanks to an apparent short squeeze. For example, whereas Macy's has a highly rated mobile app that surpassed $1 billion in annual sales last year, Dillard's doesn't even have a mobile app. The Dillard's stock surge won't last Based on its Monday closing price of $77.93, Dillard's stock trades for 15 times the average analyst earnings estimate for fiscal 2019.
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However, Dillard's (NYSE: DDS) shares took off over the course of the trading day, thanks to an apparent short squeeze. Dillard's doesn't have much of a strategy Profitability has been eroding steadily at Dillard's in recent years. The Dillard's stock surge won't last Based on its Monday closing price of $77.93, Dillard's stock trades for 15 times the average analyst earnings estimate for fiscal 2019.
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However, Dillard's (NYSE: DDS) shares took off over the course of the trading day, thanks to an apparent short squeeze. A rising stock price can lead some of the "shorts" to buy the stock to cover their positions. Dillard's pre-tax margin has been falling steadily in recent years.
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1f634ec1-6c12-47f0-a0ea-8d2716a51c0c
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719577.0
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2019-07-18 00:00:00 UTC
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Options Trader Bets Big On a Deeper Dillard's Stock Drop
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DDS
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https://www.nasdaq.com/articles/options-trader-bets-big-on-a-deeper-dillards-stock-drop-2019-07-18
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nan
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nan
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Department store operator Dillard's, Inc. (NYSE:DDS) has bounced back from its May-June lows around $56 per share, but the stock is now facing heavy resistance at the 200-day trendline. The moving average has capped multiple breakout attempts over the past year for the retailer, and now has the stock pulling back from the $68 mark -- home to its January highs.
Dillard's stock is modestly higher today, up 0.5% to trade at $64.66 after suffering a 4.4% drop on Wednesday. However, it looks like one options trader is betting on more short-term downside to come for the retail stock in the weeks ahead.
In the options pits, traders have been busy today. Currently, more than 2,300 calls and 1,700 puts have changed hands -- about three times the expected intraday volume. There's notable activity at the August 75 strike, where it appears that one bearish trader wrote calls to partially fund the cost of a new high-delta put position.
The trader looks to have bought to open 1,000 75-strike puts for $12.56 each, and simultaneously sold to open an equal amount of 75-strike calls for $0.86 each. This spread was established for a net debit of $11.70 per pair of options ($12.56 - $0.86), or $1.17 million total (net debit x 100 shares per contract x 1,000 spreads).
Digging deeper, the trader will turn a profit if DDS is trading below $63.30 (bought put strike minus net debit) when the options expire on Friday, August 16. Because that 75-strike put is so deep in the money, it has a relatively high delta of negative 83% -- meaning it gains $0.83 in value for every 1 point the stock loses -- even a month out from expiration.
While options that behave this much like the underlying stock are expensive to buy due to their high proportion of intrinsic value, the trader in this scenario has trimmed the cost of entry somewhat by pairing the long put options with short call options. That said, writing the calls at the 75 strike also creates theoretically unlimited risk on an upside move, unless the options contracts are hedged by an appropriate number of DDS shares.
Dillard's is tentatively expected to report second-quarter earnings the week of August options expiration, which may have inspired this back-month trade. The stock has declined in the post-earnings session in each of the past five quarters, according to Trade-Alert, with the average one-day sell-off amounting to a steep 9.5%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Department store operator Dillard's, Inc. (NYSE:DDS) has bounced back from its May-June lows around $56 per share, but the stock is now facing heavy resistance at the 200-day trendline. Digging deeper, the trader will turn a profit if DDS is trading below $63.30 (bought put strike minus net debit) when the options expire on Friday, August 16. That said, writing the calls at the 75 strike also creates theoretically unlimited risk on an upside move, unless the options contracts are hedged by an appropriate number of DDS shares.
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Digging deeper, the trader will turn a profit if DDS is trading below $63.30 (bought put strike minus net debit) when the options expire on Friday, August 16. Department store operator Dillard's, Inc. (NYSE:DDS) has bounced back from its May-June lows around $56 per share, but the stock is now facing heavy resistance at the 200-day trendline. That said, writing the calls at the 75 strike also creates theoretically unlimited risk on an upside move, unless the options contracts are hedged by an appropriate number of DDS shares.
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Digging deeper, the trader will turn a profit if DDS is trading below $63.30 (bought put strike minus net debit) when the options expire on Friday, August 16. Department store operator Dillard's, Inc. (NYSE:DDS) has bounced back from its May-June lows around $56 per share, but the stock is now facing heavy resistance at the 200-day trendline. That said, writing the calls at the 75 strike also creates theoretically unlimited risk on an upside move, unless the options contracts are hedged by an appropriate number of DDS shares.
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Digging deeper, the trader will turn a profit if DDS is trading below $63.30 (bought put strike minus net debit) when the options expire on Friday, August 16. Department store operator Dillard's, Inc. (NYSE:DDS) has bounced back from its May-June lows around $56 per share, but the stock is now facing heavy resistance at the 200-day trendline. That said, writing the calls at the 75 strike also creates theoretically unlimited risk on an upside move, unless the options contracts are hedged by an appropriate number of DDS shares.
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bd1ce8ad-1d20-4380-b080-2c903fc01204
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719578.0
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2019-07-16 00:00:00 UTC
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DDS Makes Bullish Cross Above Critical Moving Average
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DDS
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https://www.nasdaq.com/articles/dds-makes-bullish-cross-above-critical-moving-average-2019-07-16
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nan
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nan
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $67.18, changing hands as high as $68.00 per share. Dillard's Inc. shares are currently trading up about 2.9% on the day. The chart below shows the one year performance of DDS shares, versus its 200 day moving average:
Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $67.42.
Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $67.18, changing hands as high as $68.00 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $67.42. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $67.18, changing hands as high as $68.00 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $67.42. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $67.18, changing hands as high as $68.00 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $67.42. Click here to find out which 9 other dividend stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $67.18, changing hands as high as $68.00 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $53.96 per share, with $94.03 as the 52 week high point — that compares with a last trade of $67.42. Dillard's Inc. shares are currently trading up about 2.9% on the day.
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1940806f-37c2-4538-833c-9287610d4832
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719579.0
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2019-06-27 00:00:00 UTC
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DDS August 9th Options Begin Trading
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DDS
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https://www.nasdaq.com/articles/dds-august-9th-options-begin-trading-2019-06-27
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nan
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nan
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Investors in Dillard's Inc. (Symbol: DDS) saw new options become available today, for the August 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the DDS options chain for the new August 9th contracts and identified one put and one call contract of particular interest.
The put contract at the $57.00 strike price has a current bid of 75 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $57.00, but will also collect the premium, putting the cost basis of the shares at $56.25 (before broker commissions). To an investor already interested in purchasing shares of DDS, that could represent an attractive alternative to paying $61.45/share today.
Because the $57.00 strike represents an approximate 7% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 71%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 1.32% return on the cash commitment, or 11.17% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Dillard's Inc., and highlighting in green where the $57.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $63.00 strike price has a current bid of $1.75. If an investor was to purchase shares of DDS stock at the current price level of $61.45/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $63.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 5.37% if the stock gets called away at the August 9th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if DDS shares really soar, which is why looking at the trailing twelve month trading history for Dillard's Inc., as well as studying the business fundamentals becomes important. Below is a chart showing DDS's trailing twelve month trading history, with the $63.00 strike highlighted in red:
Considering the fact that the $63.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 53%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 2.85% boost of extra return to the investor, or 24.17% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 85%, while the implied volatility in the call contract example is 69%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $61.45) to be 46%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Of course, a lot of upside could potentially be left on the table if DDS shares really soar, which is why looking at the trailing twelve month trading history for Dillard's Inc., as well as studying the business fundamentals becomes important. Below is a chart showing DDS's trailing twelve month trading history, with the $63.00 strike highlighted in red: Considering the fact that the $63.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Dillard's Inc. (Symbol: DDS) saw new options become available today, for the August 9th expiration.
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The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 71%. Below is a chart showing DDS's trailing twelve month trading history, with the $63.00 strike highlighted in red: Considering the fact that the $63.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 53%.
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Below is a chart showing DDS's trailing twelve month trading history, with the $63.00 strike highlighted in red: Considering the fact that the $63.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Investors in Dillard's Inc. (Symbol: DDS) saw new options become available today, for the August 9th expiration.
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At Stock Options Channel, our YieldBoost formula has looked up and down the DDS options chain for the new August 9th contracts and identified one put and one call contract of particular interest. Below is a chart showing DDS's trailing twelve month trading history, with the $63.00 strike highlighted in red: Considering the fact that the $63.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Dillard's Inc. (Symbol: DDS) saw new options become available today, for the August 9th expiration.
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bd0e4a8f-395b-497b-a96b-1dce762323ea
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719580.0
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2019-05-17 00:00:00 UTC
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That's Odd: Bearish DDS Analysts See 10.33% Upside
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DDS
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https://www.nasdaq.com/articles/thats-odd%3A-bearish-dds-analysts-see-10.33-upside-2019-05-17
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nan
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nan
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Analyst ratings can sometimes be complicated, and we here at ETF Channel have noticed a bit of a paradox with Dillard's Inc. (Symbol: DDS). The average 12-month price target for DDS — averaging the work of 5 analysts — reveals an average price target of $62.60/share. That's a whopping 10.33% above where DDS has been trading recently at $56.74/share. With this kind of capital gain potential (should DDS reach that price target), one might expect to see a high concentration of "buy" or even "strong buy" ratings on the stock. Yet, take a look at the bearishness:
The average rating presented in the last row of the table above is from 1 to 5, where 1 would be a consensus Strong Buy and 5 would be a consensus Strong Sell. In the middle, 3 would be a Hold. So anything above 3 leans toward Sell as the average analyst sentiment. The average rating of 4.4 for DDS leans towards Sell, yet the DDS price target paints a different picture. Clearly, there is something more to the story here that is worth investigating for investors looking at Dillard's Inc. Of course, the average price target is just that — a mathematical average, and is only one metric. There are analysts with lower targets than the average, including one looking for a price of $57.00. And then on the other side of the spectrum one analyst has a target as high as $65.00. The standard deviation is $3.361.
But the whole reason to look at the average in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes — much like with guessing the number of jelly beans in a jar, where the average guess tends to be very close. And so with DDS trading so far below that average target price of $62.60/share, the 10.33% upside to that average target does seem to be a paradox against the bearish analyst ratings. Might analysts be behind the curve with their targets and downward adjustments are forthcoming? Or, is it time for some of these analysts to turn bullish and upgrade? One thing is for sure: this apparent paradox makes for a good "signal" to investors in DDS to spend fresh time assessing the company and deciding whether analysts have it right with their sentiment, or have it right with their price target for Dillard's Inc. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on DDS — FREE.
The Top 25 Broker Analyst Picks of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Analyst ratings can sometimes be complicated, and we here at ETF Channel have noticed a bit of a paradox with Dillard's Inc. (Symbol: DDS). One thing is for sure: this apparent paradox makes for a good "signal" to investors in DDS to spend fresh time assessing the company and deciding whether analysts have it right with their sentiment, or have it right with their price target for Dillard's Inc. The average 12-month price target for DDS — averaging the work of 5 analysts — reveals an average price target of $62.60/share.
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The average 12-month price target for DDS — averaging the work of 5 analysts — reveals an average price target of $62.60/share. The average rating of 4.4 for DDS leans towards Sell, yet the DDS price target paints a different picture. Analyst ratings can sometimes be complicated, and we here at ETF Channel have noticed a bit of a paradox with Dillard's Inc. (Symbol: DDS).
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The average 12-month price target for DDS — averaging the work of 5 analysts — reveals an average price target of $62.60/share. The average rating of 4.4 for DDS leans towards Sell, yet the DDS price target paints a different picture. And so with DDS trading so far below that average target price of $62.60/share, the 10.33% upside to that average target does seem to be a paradox against the bearish analyst ratings.
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The average rating of 4.4 for DDS leans towards Sell, yet the DDS price target paints a different picture. And so with DDS trading so far below that average target price of $62.60/share, the 10.33% upside to that average target does seem to be a paradox against the bearish analyst ratings. One thing is for sure: this apparent paradox makes for a good "signal" to investors in DDS to spend fresh time assessing the company and deciding whether analysts have it right with their sentiment, or have it right with their price target for Dillard's Inc.
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c944f9ac-c657-4d53-bb86-ee5ccacc56bd
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719581.0
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2019-05-16 00:00:00 UTC
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Why Embraer, Dillard's, and Farfetch Slumped Today
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DDS
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https://www.nasdaq.com/articles/why-embraer-dillards-and-farfetch-slumped-today-2019-05-16
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nan
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nan
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Wall Street was in a good mood on Thursday, as major indexes generally finished up as much as 1%. After more than a week of anxiety, investors appear to be coming to grips with the new state of affairs on the trade front between the U.S. and China, and the market seems to be giving the Trump administration more latitude to take aggressive action in efforts to negotiate favorable deals. Yet not all stocks moved higher; some companies had to deal with challenges that sent their share prices lower. Embraer (NYSE: ERJ), Dillard's (NYSE: DDS), and Farfetch (NYSE: FTCH) were among the worst performers. Here's why they did so poorly.
Embraer loses altitude
Shares of Embraer fell 5%, adding to losses on Wednesday as investors continued to digest the aircraft manufacturer's latest quarterly report. On the day of the release, Embraer stock lost between 5% and 6%, thanks to results that included weak deliveries of just 11 commercial jets and 11 executive aircraft. The plane maker also lost money again, and despite a backlog of about $16 billion, shareholders seem worried about its future prospects. Embraer expects to move forward with its partnership with Boeing and affirmed its prior full-year projections, but investors are nervous about the uncertain environment in aerospace given Boeing's woes elsewhere.
Image source: Getty Images.
Dillard's deals with dying malls
Dillard's saw its stock drop 10.5% after the department store retailer reported its first-quarter financial results. Total revenue was higher by 1% on flat comparable-store sales, and although net income eased lower, a decline in shares outstanding helped boost earnings on a per-share basis by between 3% and 4% compared to year-ago levels. Yet gross margin fell well over a full percentage point, as weakness in shoes and cosmetics was only partially offset by strength in juniors' and children's apparel, as well as the home and furniture category and the men's apparel and accessories groups. Between high levels of inventory and costs of competing against e-commerce competition, Dillard's faces a tough situation and will have to work hard to move beyond it.
Farfetch can't grow fast enough
Finally, shares of Farfetch plunged almost 11%. The online luxury fashion platform reported first-quarter results for 2019 that included a 39% jump in overall sales on 44% gains in gross merchandise value sold over the platform. Yet after-tax losses more than doubled from year-ago levels, and even on an adjusted basis, Farfetch posted more red ink than it did in the first quarter of 2018. Founder and CEO Jose Neves believes that the company is in good position "to continue capturing share of the significant opportunity in the online personal luxury goods market," but shareholders seem to want even faster growth and more progress toward breaking even before they'll be completely confident in Farfetch's prospects.
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Dan Caplinger owns shares of BA. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Embraer (NYSE: ERJ), Dillard's (NYSE: DDS), and Farfetch (NYSE: FTCH) were among the worst performers. After more than a week of anxiety, investors appear to be coming to grips with the new state of affairs on the trade front between the U.S. and China, and the market seems to be giving the Trump administration more latitude to take aggressive action in efforts to negotiate favorable deals. Total revenue was higher by 1% on flat comparable-store sales, and although net income eased lower, a decline in shares outstanding helped boost earnings on a per-share basis by between 3% and 4% compared to year-ago levels.
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Embraer (NYSE: ERJ), Dillard's (NYSE: DDS), and Farfetch (NYSE: FTCH) were among the worst performers. Embraer loses altitude Shares of Embraer fell 5%, adding to losses on Wednesday as investors continued to digest the aircraft manufacturer's latest quarterly report. The online luxury fashion platform reported first-quarter results for 2019 that included a 39% jump in overall sales on 44% gains in gross merchandise value sold over the platform.
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Embraer (NYSE: ERJ), Dillard's (NYSE: DDS), and Farfetch (NYSE: FTCH) were among the worst performers. Embraer loses altitude Shares of Embraer fell 5%, adding to losses on Wednesday as investors continued to digest the aircraft manufacturer's latest quarterly report. Founder and CEO Jose Neves believes that the company is in good position "to continue capturing share of the significant opportunity in the online personal luxury goods market," but shareholders seem to want even faster growth and more progress toward breaking even before they'll be completely confident in Farfetch's prospects.
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Embraer (NYSE: ERJ), Dillard's (NYSE: DDS), and Farfetch (NYSE: FTCH) were among the worst performers. Total revenue was higher by 1% on flat comparable-store sales, and although net income eased lower, a decline in shares outstanding helped boost earnings on a per-share basis by between 3% and 4% compared to year-ago levels. Offer from The Motley Fool: The 10 best stocks to buy now Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market.
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02059f7c-7ce1-4620-b80f-38fa8f73e990
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719582.0
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2019-05-16 00:00:00 UTC
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Margin Pressure Continues at Dillard's
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DDS
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https://www.nasdaq.com/articles/margin-pressure-continues-dillards-2019-05-16
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nan
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nan
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Dillard's (NYSE: DDS) has taken shareholders on a roller-coaster ride in recent years, with huge volatility around its quarterly earnings reports. The regional department store chain doesn't hold quarterly earnings calls, present at industry conferences, or provide sales and earnings guidance, so investors never quite know what to expect.
That said, margin compression has been a fairly consistent theme at Dillard's since 2015. In a worrisome sign for investors, that trend continued last quarter and shows no sign of abating.
Profitability has been shrinking
Weak mall traffic and the rise of e-commerce and off-price competition have hurt Dillard's and rivals such as Macy's (NYSE: M) over the past few years. It has become harder than ever to generate sales growth. Meanwhile, price transparency and the cost of shipping e-commerce orders have weighed on gross margin.
Indeed, Dillard's adjusted pre-tax margin hit a recent peak of 7.6% in fiscal 2014 but has been falling ever since. By fiscal 2018, its pre-tax margin had sunk to just 3.3%.
The company has offset some of the pressure from its margin declines through an aggressive share buyback program. Tax reform also provided an earnings boost last year. Nevertheless, adjusted earnings per share plunged from $7.70 in fiscal 2014 to $6.12 in fiscal 2018.
Dillard's pre-tax margin has fallen by more than half since fiscal 2014. Image source: Author.
Dillard's misses the mark in Q1
Like Macy's, Dillard's returned to positive comps in late 2017 and posted a 2% comp sales gain last year. That included a 2% comp in the fourth quarter.
However, Dillard's sales momentum slowed last quarter. On Wednesday afternoon, the company reported flat comp sales for the first quarter of fiscal 2019. That was worse than the 0.7% increase that Macy's posted earlier in the day. Total sales increased slightly to $1.47 billion but missed the analyst consensus of $1.49 billion.
This sales slowdown was particularly unfortunate because Dillard's entered the quarter with elevated inventory levels. As a result, retail gross margin fell by about 1.4 percentage points year over year, which was nearly double the gross margin decline at Macy's.
Dillard's did manage to reduce its operating expenses slightly on a year-over-year basis. Interest expense also fell, as the company repaid $162 million of debt last year. Even so, Dillard's adjusted pre-tax profit (excluding asset sale gains) fell to $93 million from $103 million in the prior-year period. Adjusted EPS declined 4% year over year to $2.77, falling a little short of the average analyst estimate of $2.80.
Conditions won't get any easier
At first glance, it may appear that Dillard's recent margin pressure is no big deal. After all, its adjusted EPS barely fell last quarter, compared to a double-digit decline at Macy's (also excluding asset sale gains).
However, the first quarter is typically one of the strongest parts of the year for Dillard's, due to the retailer's geographic concentration in Sun Belt states where the spring begins early. Dillard's actually lost money in the second quarter in each of the past two years and was barely profitable in the third quarter last year. By contrast, Macy's -- which has a big presence in the Northeast and Midwest -- tends to be more profitable in the second quarter than in the first quarter.
Dillard's exited Q1 with inventory up 3% year over year, well ahead of its sales growth pace. That's very dangerous entering a seasonally weaker part of the year, as it could exacerbate the department store chain's gross margin declines. Rising tariffs are yet another threat to Dillard's gross margin.
Additionally, Dillard's interest savings will fade after the company laps its debt repayment from last summer. Depreciation and amortization expense will increase modestly over the course of 2019 as well, adding further margin pressure. As a result, gross margin declines would have a much bigger impact on EPS during the rest of the year than they did in Q1.
Given these headwinds, it's hard to justify the company's stock's recent valuation of about 12 times forward earnings -- a huge premium to Macy's shares. Thus, it was no surprise that Dillard's stock cratered during after-hours trading following the subpar earnings report.
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Adam Levine-Weinberg owns shares of Macy's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's (NYSE: DDS) has taken shareholders on a roller-coaster ride in recent years, with huge volatility around its quarterly earnings reports. Profitability has been shrinking Weak mall traffic and the rise of e-commerce and off-price competition have hurt Dillard's and rivals such as Macy's (NYSE: M) over the past few years. However, the first quarter is typically one of the strongest parts of the year for Dillard's, due to the retailer's geographic concentration in Sun Belt states where the spring begins early.
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Dillard's (NYSE: DDS) has taken shareholders on a roller-coaster ride in recent years, with huge volatility around its quarterly earnings reports. Dillard's misses the mark in Q1 Like Macy's, Dillard's returned to positive comps in late 2017 and posted a 2% comp sales gain last year. Even so, Dillard's adjusted pre-tax profit (excluding asset sale gains) fell to $93 million from $103 million in the prior-year period.
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Dillard's (NYSE: DDS) has taken shareholders on a roller-coaster ride in recent years, with huge volatility around its quarterly earnings reports. Dillard's misses the mark in Q1 Like Macy's, Dillard's returned to positive comps in late 2017 and posted a 2% comp sales gain last year. As a result, retail gross margin fell by about 1.4 percentage points year over year, which was nearly double the gross margin decline at Macy's.
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Dillard's (NYSE: DDS) has taken shareholders on a roller-coaster ride in recent years, with huge volatility around its quarterly earnings reports. Dillard's misses the mark in Q1 Like Macy's, Dillard's returned to positive comps in late 2017 and posted a 2% comp sales gain last year. On Wednesday afternoon, the company reported flat comp sales for the first quarter of fiscal 2019.
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4e739c78-077f-472b-b21d-2fa790f7d695
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719583.0
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2019-05-15 00:00:00 UTC
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EARNINGS SUMMARY: Details of Dillard Inc. Q1 Earnings Report
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DDS
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https://www.nasdaq.com/articles/earnings-summary%3A-details-dillard-inc.-q1-earnings-report-2019-05-15
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nan
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nan
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(RTTNews) - Below are the earnings highlights for Dillard Inc. (DDS):
-Earnings: $78.6 million in Q1 vs. $80.5 million in the same period last year. -EPS: $2.99 in Q1 vs. $2.89 in the same period last year. -Analysts projected $2.80 per share -Revenue: $1.50 billion in Q1 vs. $1.49 billion in the same period last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Below are the earnings highlights for Dillard Inc. (DDS): -Earnings: $78.6 million in Q1 vs. $80.5 million in the same period last year. -Analysts projected $2.80 per share -Revenue: $1.50 billion in Q1 vs. $1.49 billion in the same period last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Below are the earnings highlights for Dillard Inc. (DDS): -Earnings: $78.6 million in Q1 vs. $80.5 million in the same period last year. -EPS: $2.99 in Q1 vs. $2.89 in the same period last year. -Analysts projected $2.80 per share -Revenue: $1.50 billion in Q1 vs. $1.49 billion in the same period last year.
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(RTTNews) - Below are the earnings highlights for Dillard Inc. (DDS): -Earnings: $78.6 million in Q1 vs. $80.5 million in the same period last year. -Analysts projected $2.80 per share -Revenue: $1.50 billion in Q1 vs. $1.49 billion in the same period last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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(RTTNews) - Below are the earnings highlights for Dillard Inc. (DDS): -Earnings: $78.6 million in Q1 vs. $80.5 million in the same period last year. -Analysts projected $2.80 per share -Revenue: $1.50 billion in Q1 vs. $1.49 billion in the same period last year. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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1ef08450-980e-4302-8435-5d33babcad65
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719584.0
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2019-05-13 00:00:00 UTC
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Oversold Conditions For Dillard's (DDS)
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DDS
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https://www.nasdaq.com/articles/oversold-conditions-dillards-dds-2019-05-13
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nan
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nan
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Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Monday, shares of Dillard's Inc. (Symbol: DDS) entered into oversold territory, hitting an RSI reading of 29.7, after changing hands as low as $62.77 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 35.5. A bullish investor could look at DDS's 29.7 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDS shares:
Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point — that compares with a last trade of $63.17.
Find out what 9 other oversold stocks you need to know about »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Monday, shares of Dillard's Inc. (Symbol: DDS) entered into oversold territory, hitting an RSI reading of 29.7, after changing hands as low as $62.77 per share. A bullish investor could look at DDS's 29.7 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDS shares: Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point — that compares with a last trade of $63.17.
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In trading on Monday, shares of Dillard's Inc. (Symbol: DDS) entered into oversold territory, hitting an RSI reading of 29.7, after changing hands as low as $62.77 per share. A bullish investor could look at DDS's 29.7 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDS shares: Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point — that compares with a last trade of $63.17.
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In trading on Monday, shares of Dillard's Inc. (Symbol: DDS) entered into oversold territory, hitting an RSI reading of 29.7, after changing hands as low as $62.77 per share. A bullish investor could look at DDS's 29.7 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDS shares: Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point — that compares with a last trade of $63.17.
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In trading on Monday, shares of Dillard's Inc. (Symbol: DDS) entered into oversold territory, hitting an RSI reading of 29.7, after changing hands as low as $62.77 per share. A bullish investor could look at DDS's 29.7 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of DDS shares: Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point — that compares with a last trade of $63.17.
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51178c52-b6c5-4361-9a4f-072e6955bccf
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719585.0
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2019-04-24 00:00:00 UTC
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Commit To Buy Dillard's At $47.50, Earn 9.5% Using Options
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DDS
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https://www.nasdaq.com/articles/commit-buy-dillards-4750-earn-95-using-options-2019-04-24
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nan
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nan
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Investors eyeing a purchase of Dillard's Inc. (Symbol: DDS) shares, but tentative about paying the going market price of $70.81/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the January 2021 put at the $47.50 strike, which has a bid at the time of this writing of $4.50. Collecting that bid as the premium represents a 9.5% return against the $47.50 commitment, or a 5.5% annualized rate of return (at Stock Options Channel we call this the YieldBoost).
Selling a put does not give an investor access to DDS's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. And the person on the other side of the contract would only benefit from exercising at the $47.50 strike if doing so produced a better outcome than selling at the going market price. (Do options carry counterparty risk? This and six other common options myths debunked). So unless Dillard's Inc. sees its shares fall 32.6% and the contract is exercised (resulting in a cost basis of $43.00 per share before broker commissions, subtracting the $4.50 from $47.50), the only upside to the put seller is from collecting that premium for the 5.5% annualized rate of return.
Interestingly, that annualized 5.5% figure actually exceeds the 0.6% annualized dividend paid by Dillard's Inc. by 4.9%, based on the current share price of $70.81. And yet, if an investor was to buy the stock at the going market price in order to collect the dividend, there is greater downside because the stock would have to fall 32.61% to reach the $47.50 strike price.
Always important when discussing dividends is the fact that, in general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of Dillard's Inc., looking at the dividend history chart for DDS below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 0.6% annualized dividend yield.
Below is a chart showing the trailing twelve month trading history for Dillard's Inc., and highlighting in green where the $47.50 strike is located relative to that history:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the January 2021 put at the $47.50 strike for the 5.5% annualized rate of return represents good reward for the risks. We calculate the trailing twelve month volatility for Dillard's Inc. (considering the last 251 trading day closing values as well as today's price of $70.81) to be 47%. For other put options contract ideas at the various different available expirations, visit the DDS Stock Options page of StockOptionsChannel.com.
Top YieldBoost Puts of the S&P 500 »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors eyeing a purchase of Dillard's Inc. (Symbol: DDS) shares, but tentative about paying the going market price of $70.81/share, might benefit from considering selling puts among the alternative strategies at their disposal. Selling a put does not give an investor access to DDS's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. In the case of Dillard's Inc., looking at the dividend history chart for DDS below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 0.6% annualized dividend yield.
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Selling a put does not give an investor access to DDS's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. Investors eyeing a purchase of Dillard's Inc. (Symbol: DDS) shares, but tentative about paying the going market price of $70.81/share, might benefit from considering selling puts among the alternative strategies at their disposal. In the case of Dillard's Inc., looking at the dividend history chart for DDS below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 0.6% annualized dividend yield.
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Selling a put does not give an investor access to DDS's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. Investors eyeing a purchase of Dillard's Inc. (Symbol: DDS) shares, but tentative about paying the going market price of $70.81/share, might benefit from considering selling puts among the alternative strategies at their disposal. In the case of Dillard's Inc., looking at the dividend history chart for DDS below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 0.6% annualized dividend yield.
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In the case of Dillard's Inc., looking at the dividend history chart for DDS below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 0.6% annualized dividend yield. For other put options contract ideas at the various different available expirations, visit the DDS Stock Options page of StockOptionsChannel.com. Investors eyeing a purchase of Dillard's Inc. (Symbol: DDS) shares, but tentative about paying the going market price of $70.81/share, might benefit from considering selling puts among the alternative strategies at their disposal.
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9c530ef2-d21d-46b8-9738-a353b88dfa80
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719586.0
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2019-03-27 00:00:00 UTC
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Dillard's (DDS) Down 7.9% Since Last Earnings Report: Can It Rebound?
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DDS
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https://www.nasdaq.com/articles/dillards-dds-down-7.9-since-last-earnings-report%3A-can-it-rebound-2019-03-27
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A month has gone by since the las t earnings report for Dillard's (DDS). Shares have lost about 7.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Dillard's due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recen t earnings report in order to get a better handle on the important catalysts.
Dillard's Q4 Earnings & Sales Beat Estimates
Dillard's reported earnings per share of $3.22 for fourth-quarter fiscal 2018, down 42% from adjusted earnings of $5.55 in the prior-year quarter. However, the figure exceeded the Zacks Consensus Estimate of $2.77. Earnings were impacted by higher markdowns, which significantly impacted margins.
Net sales were $2,056.3 million, which declined 2.5% from the year-ago quarter but surpassed the Zacks Consensus Estimate of $2,023 million. Excluding services and other income, sales dipped 2.4% to $2,010.6 million. Merchandise sales decreased 3.2% to $1,959 million. Sales in comparable stores for the 13-week period (ended Feb 2, 2019) increased 2% from the year-ago period.
During the fiscal fourth quarter, the company witnessed robust performance in home and furniture categories along with momentum in cosmetics, and men's clothing and accessories. Notably, the eastern region performed exceedingly well, followed by the western and central regions.
Consolidated gross margin decreased 90 basis points (bps) to 29.6%, which marked a greater decline compared with retail operations. Gross margin from retail operations contracted 69 bps, mainly due to higher markdowns.
Dillard's SG&A expenses (as a percentage of sales) were down 40 bps from prior-year quarter to 22.8%. In dollar terms, the SG&A expenses decreased 4.4% to $458 million.
Financial Details
Dillard's ended fiscal 2018 with cash and cash equivalents of $123.5 million, long-term debt and capital leases of $367.2 million, and total shareholders' equity of $1,678.4 million. As of Feb 2, 2019, merchandise inventories improved 4.4% year over year to $1,528.4 million.
In fiscal 2018, the company generated operating cash flow of $367.2 million. Further, it remained committed to rewarding shareholders with dividends and buybacks. The company paid $139 million to shareholders in fiscal 2018, including cash dividends of $11.1 million and $127.9 million for share repurchases.
During the fiscal fourth quarter, the company bought back roughly 0.6 million shares for $36 million under its $500-million repurchase program announced in March 2018. As of Feb 2, 2019, the company had share buyback authorization worth $406.9 million remaining under its program.
Store Update
As of Feb 2, 2019, Dillard's had about 265 namesake outlets and 26 clearance centers, operating in 29 states alongside an online store at www.dillards.com. The company's total square footage as of Feb 2 was 49 million.
The company closed its 115,000 square feet clearance store at West Town Center in Cincinnati, OH, during the fiscal fourth quarter. Further, the company plans to close its store in Southern Park Mall in Boardman, OH, in the first quarter of fiscal 2019. The store encloses an area of 186,000 square feet.
Fiscal 2019 View
Dillard's provided its guidance for fiscal 2019. The company expects rentals of approximately $28 million compared with $29 million in fiscal 2018. Net interest and debt expenses are anticipated to be $46 million, down from $53 million in fiscal 2018. Furthermore, the company projects capital expenditure of about $140 million for fiscal 2018 compared with $137 million spent last year.
For fiscal 2019, depreciation and amortization expenses are projected to be $225 million compared with $224 million in fiscal 2018.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in fresh estimates. The consensus estimate has shifted -5.29% due to these changes.
VGM Scores
Currently, Dillard's has a great Growth Score of A, a grade with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision indicates a downward shift. Notably, Dillard's has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Dillard's, Inc. (DDS): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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A month has gone by since the las t earnings report for Dillard's (DDS). Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recen t earnings report in order to get a better handle on the important catalysts.
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A month has gone by since the las t earnings report for Dillard's (DDS). Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Dillard's Q4 Earnings & Sales Beat Estimates Dillard's reported earnings per share of $3.22 for fourth-quarter fiscal 2018, down 42% from adjusted earnings of $5.55 in the prior-year quarter.
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A month has gone by since the las t earnings report for Dillard's (DDS). Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Dillard's Q4 Earnings & Sales Beat Estimates Dillard's reported earnings per share of $3.22 for fourth-quarter fiscal 2018, down 42% from adjusted earnings of $5.55 in the prior-year quarter.
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A month has gone by since the las t earnings report for Dillard's (DDS). Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Dillard's Q4 Earnings & Sales Beat Estimates Dillard's reported earnings per share of $3.22 for fourth-quarter fiscal 2018, down 42% from adjusted earnings of $5.55 in the prior-year quarter.
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81ae8122-39ad-4b19-b4b5-b6f2547bb53f
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719587.0
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2019-03-14 00:00:00 UTC
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Dillard's (DDS) Q4 Earnings and Revenues Surpass Estimates
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DDS
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https://www.nasdaq.com/articles/dillards-dds-q4-earnings-and-revenues-surpass-estimates-2019-03-14
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Dillard's (DDS) came out with quarterly earnings of $3.22 per share, beating the Zacks Consensus Estimate of $2.80 per share. This compares to earnings of $2.82 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 15%. A quarter ago, it was expected that this department store operator would pos t earnings of $0.56 per share when it actually produced earnings of $0.27, delivering a surprise of -51.79%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Dillard's, which belongs to the Zacks Retail - Regional Department Stores industry, posted revenues of $2.01 billion for the quarter ended April 2019, surpassing the Zacks Consensus Estimate by 0.36%. This compares to year-ago revenues of $2.11 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call .
Dillard's shares have added about 20% since the beginning of the year versus the S&P 500's gain of 12.1%.
What's Next for Dillard's?
While Dillard's has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power o f earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Dillard's was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.27 on $1.51 billion in revenues for the coming quarter and $5.53 on $6.49 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Regional Department Stores is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dillard's, Inc. (DDS): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's (DDS) came out with quarterly earnings of $3.22 per share, beating the Zacks Consensus Estimate of $2.80 per share. Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook.
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Dillard's (DDS) came out with quarterly earnings of $3.22 per share, beating the Zacks Consensus Estimate of $2.80 per share. Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Dillard's, which belongs to the Zacks Retail - Regional Department Stores industry, posted revenues of $2.01 billion for the quarter ended April 2019, surpassing the Zacks Consensus Estimate by 0.36%.
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Dillard's (DDS) came out with quarterly earnings of $3.22 per share, beating the Zacks Consensus Estimate of $2.80 per share. Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Dillard's, which belongs to the Zacks Retail - Regional Department Stores industry, posted revenues of $2.01 billion for the quarter ended April 2019, surpassing the Zacks Consensus Estimate by 0.36%.
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Dillard's (DDS) came out with quarterly earnings of $3.22 per share, beating the Zacks Consensus Estimate of $2.80 per share. Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.
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05d8ac37-f836-4a39-b24a-2ed63ba03ce8
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719588.0
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2019-03-11 00:00:00 UTC
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4 Reasons to Hold on to Dillard's (DDS) Stock at the Moment
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DDS
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https://www.nasdaq.com/articles/4-reasons-to-hold-on-to-dillards-dds-stock-at-the-moment-2019-03-11
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Dillard's Inc.DDS is favored due to its solid surprise trend and robust long-term strategies. The company's prospects remain solid, backed by inventory management initiatives, trendy product offerings and shareholder-friendly moves. Its efforts to capitalize on growth opportunities in physical stores and e-commerce also bode well.
These positives have aided the stock to surge 9% in the past three months against the industry 's decline of 8.9%. Further, this Zacks Rank #3 (Hold) stock gained momentum as its top and bottom lines beat estimates in the fourth quarter of fiscal 2018. Consequently, the stock has risen 3.4% in the past month against the industry's decline of 0.4%.
Additionally, the company has a VGM Score of A. Our research shows that stocks with a VGM Score of A or B combined with a Zacks Rank #1 (Strong Buy) or 2 (Buy) offer the best investment opportunities.
Let's get a detailed view of factors aiding Dillard's performance.
Growth Initiatives Look Promising
Dillard's remains well poised to benefit from growth opportunities in its brick-and-mortar stores and e-commerce business, which are likely to help retain existing customers and attract new ones. On the store front, the company will gain by enhancing brand relations, focusing on in-trend categories, store remodels and rewarding store personnel. Then again, some of the strategies to boost growth across its e-commerce business include enhancing merchandise assortments and effective inventory management.
As of Feb 2, 2019, merchandise inventories improved 4.4% year over year to $1,528.4 million. We expect the company to gain from its focus on increasing productivity at existing stores, developing a leading omni-channel platform and enhancing its domestic operations in the years ahead.
Robust Surprise Trend
Dillard's delivered seventh straight sales beat in fourth-quarter fiscal 2018 while its earnings surpassed estimates in five of the last six quarters. Revenues benefited from comparable store sales (comps) growth of 2% and strong performance across most categories. Notably, the company witnessed robust performance in home and furniture categories along with momentum in cosmetics, and men's clothing and accessories. Moreover, the eastern region performed exceedingly well, followed by western and central regions.
Estimate Trend Up
Backed by the robust results, the company's earnings estimates for fiscal 2019 and 2020 have moved up in the past month. The Zacks Consensus Estimate for fiscal 2019 increased 0.6% to $5.53 while it moved up 6.2% to $4.94 for fiscal 2020.
Dillard's, Inc. Price, Consensus and EPS Surprise
Dillard's, Inc. Price, Consensus and EPS Surprise | Dillard's, Inc. Quote
Shareholder Rewards
Dillard's continues to generate strong free cash flows and focuses on returning value to shareholders. In fiscal 2018, the company generated operating cash flow of $367.2 million. As part of its commitment to reward shareholders, the company paid $139 million to shareholders in fiscal 2018 through cash dividends of $11.1 million and share repurchases worth $127.9 million.
During the fiscal fourth quarter, the company bought back roughly 0.6 million shares for $36 million under its $500-million repurchase program announced in March 2018. As of Feb 2, 2019, it had share buyback authorization worth $406.9 million remaining under its program. The company has also declared a cash dividend of 10 cents per share, which is payable on May 6.
What Holds Us Back?
Despite strong top and bottom-line trends, the company's earnings and sales dipped year over year in the fiscal fourth quarter mainly due to the impact of higher markdowns on earnings and margins. Consolidated gross margin declined more than gross margin for retail operations, which was affected by increased markdowns. Due to the likelihood that markdowns will continue to be high, we remain on the sidelines.
3 More Retail Stocks Worth a Look
Abercrombie & Fitch, Co. ANF has long-term earnings per share growth rate of 15.3% and a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here .
Foot Locker, Inc. FL has long-term earnings per share growth rate of 9.2% and a Zacks Rank #1.
Zumiez Inc. ZUMZ has long-term earnings per share growth rate of 12.5% and a Zacks Rank #1.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
See Latest Stocks Today >>
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Foot Locker, Inc. (FL): Free Stock Analysis Report
Abercrombie & Fitch Company (ANF): Free Stock Analysis Report
Zumiez Inc. (ZUMZ): Free Stock Analysis Report
Dillard's, Inc. (DDS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's Inc.DDS is favored due to its solid surprise trend and robust long-term strategies. Click to get this free report Foot Locker, Inc. (FL): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report Zumiez Inc. (ZUMZ): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Further, this Zacks Rank #3 (Hold) stock gained momentum as its top and bottom lines beat estimates in the fourth quarter of fiscal 2018.
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Click to get this free report Foot Locker, Inc. (FL): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report Zumiez Inc. (ZUMZ): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Dillard's Inc.DDS is favored due to its solid surprise trend and robust long-term strategies. Dillard's, Inc. Price, Consensus and EPS Surprise Dillard's, Inc. Price, Consensus and EPS Surprise | Dillard's, Inc. Quote Shareholder Rewards Dillard's continues to generate strong free cash flows and focuses on returning value to shareholders.
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Click to get this free report Foot Locker, Inc. (FL): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report Zumiez Inc. (ZUMZ): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Dillard's Inc.DDS is favored due to its solid surprise trend and robust long-term strategies. Dillard's, Inc. Price, Consensus and EPS Surprise Dillard's, Inc. Price, Consensus and EPS Surprise | Dillard's, Inc. Quote Shareholder Rewards Dillard's continues to generate strong free cash flows and focuses on returning value to shareholders.
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Dillard's Inc.DDS is favored due to its solid surprise trend and robust long-term strategies. Click to get this free report Foot Locker, Inc. (FL): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report Zumiez Inc. (ZUMZ): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Estimate Trend Up Backed by the robust results, the company's earnings estimates for fiscal 2019 and 2020 have moved up in the past month.
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4d6e50f6-5966-4ca3-ab58-054e961ee32d
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719589.0
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2019-02-27 00:00:00 UTC
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Company News For Feb 27, 2019
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DDS
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https://www.nasdaq.com/articles/company-news-for-feb-27-2019-2019-02-27
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nan
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Dillard's, Inc. DDS shares jumped 19.8% after the company reported fourth quarter 2018 adjusted earnings per share of $3.22, surpassing the Zacks Consensus Estimate of $2.77
Shares of AutoZone Inc. AZO soared 5.1% after the company posted second quarter fiscal 2019 adjusted earnings per share of $11.49, beating the Zacks Consensus Estimate of $9.97
The J. M. Smucker Co. SJM shares climbed 5% after reporting third quarter fiscal 2019 adjusted earnings per share of $2.26, ahead of the Zacks Consensus Estimate of $2.03
Shares of Westinghouse Air Brake Technologies Corp. WAB plunged 5.3% after posting fourth quarter 2018 adjusted earnings per share of $0.97, missing the Zacks Consensus Estimate of $1.02
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Westinghouse Air Brake Technologies Corporation (WAB): Free Stock Analysis Report
AutoZone, Inc. (AZO): Free Stock Analysis Report
The J. M. Smucker Company (SJM): Free Stock Analysis Report
Dillard's, Inc. (DDS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's, Inc. DDS shares jumped 19.8% after the company reported fourth quarter 2018 adjusted earnings per share of $3.22, surpassing the Zacks Consensus Estimate of $2.77 Shares of AutoZone Inc. AZO soared 5.1% after the company posted second quarter fiscal 2019 adjusted earnings per share of $11.49, beating the Zacks Consensus Estimate of $9.97 The J. M. Smucker Co. SJM shares climbed 5% after reporting third quarter fiscal 2019 adjusted earnings per share of $2.26, ahead of the Zacks Consensus Estimate of $2.03 Shares of Westinghouse Air Brake Technologies Corp. WAB plunged 5.3% after posting fourth quarter 2018 adjusted earnings per share of $0.97, missing the Zacks Consensus Estimate of $1.02 Want the latest recommendations from Zacks Investment Research? Click to get this free report Westinghouse Air Brake Technologies Corporation (WAB): Free Stock Analysis Report AutoZone, Inc. (AZO): Free Stock Analysis Report The J. M. Smucker Company (SJM): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's, Inc. DDS shares jumped 19.8% after the company reported fourth quarter 2018 adjusted earnings per share of $3.22, surpassing the Zacks Consensus Estimate of $2.77 Shares of AutoZone Inc. AZO soared 5.1% after the company posted second quarter fiscal 2019 adjusted earnings per share of $11.49, beating the Zacks Consensus Estimate of $9.97 The J. M. Smucker Co. SJM shares climbed 5% after reporting third quarter fiscal 2019 adjusted earnings per share of $2.26, ahead of the Zacks Consensus Estimate of $2.03 Shares of Westinghouse Air Brake Technologies Corp. WAB plunged 5.3% after posting fourth quarter 2018 adjusted earnings per share of $0.97, missing the Zacks Consensus Estimate of $1.02 Want the latest recommendations from Zacks Investment Research? Click to get this free report Westinghouse Air Brake Technologies Corporation (WAB): Free Stock Analysis Report AutoZone, Inc. (AZO): Free Stock Analysis Report The J. M. Smucker Company (SJM): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's, Inc. DDS shares jumped 19.8% after the company reported fourth quarter 2018 adjusted earnings per share of $3.22, surpassing the Zacks Consensus Estimate of $2.77 Shares of AutoZone Inc. AZO soared 5.1% after the company posted second quarter fiscal 2019 adjusted earnings per share of $11.49, beating the Zacks Consensus Estimate of $9.97 The J. M. Smucker Co. SJM shares climbed 5% after reporting third quarter fiscal 2019 adjusted earnings per share of $2.26, ahead of the Zacks Consensus Estimate of $2.03 Shares of Westinghouse Air Brake Technologies Corp. WAB plunged 5.3% after posting fourth quarter 2018 adjusted earnings per share of $0.97, missing the Zacks Consensus Estimate of $1.02 Want the latest recommendations from Zacks Investment Research? Click to get this free report Westinghouse Air Brake Technologies Corporation (WAB): Free Stock Analysis Report AutoZone, Inc. (AZO): Free Stock Analysis Report The J. M. Smucker Company (SJM): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's, Inc. DDS shares jumped 19.8% after the company reported fourth quarter 2018 adjusted earnings per share of $3.22, surpassing the Zacks Consensus Estimate of $2.77 Shares of AutoZone Inc. AZO soared 5.1% after the company posted second quarter fiscal 2019 adjusted earnings per share of $11.49, beating the Zacks Consensus Estimate of $9.97 The J. M. Smucker Co. SJM shares climbed 5% after reporting third quarter fiscal 2019 adjusted earnings per share of $2.26, ahead of the Zacks Consensus Estimate of $2.03 Shares of Westinghouse Air Brake Technologies Corp. WAB plunged 5.3% after posting fourth quarter 2018 adjusted earnings per share of $0.97, missing the Zacks Consensus Estimate of $1.02 Want the latest recommendations from Zacks Investment Research? Click to get this free report Westinghouse Air Brake Technologies Corporation (WAB): Free Stock Analysis Report AutoZone, Inc. (AZO): Free Stock Analysis Report The J. M. Smucker Company (SJM): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Today, you can download 7 Best Stocks for the Next 30 Days.
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4bb96e4c-ab50-47c4-8413-a54e3b247e21
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719590.0
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2019-02-27 00:00:00 UTC
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Validea Kenneth Fisher Strategy Daily Upgrade Report - 2/27/2019
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DDS
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https://www.nasdaq.com/articles/validea-kenneth-fisher-strategy-daily-upgrade-report-2272019-2019-02-27
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nan
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nan
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The following are today's upgrades for Validea's Price/Sales Investor model based on the published strategy of Kenneth Fisher . This value strategy rewards stocks with low P/S ratios, long-term profit growth, strong free cash flow and consistent profit margins.
DILLARD'S, INC. ( DDS ) is a mid-cap value stock in the Retail (Department & Discount) industry. The rating according to our strategy based on Kenneth Fisher changed from 50% to 80% based on the firm's underlying fundamentals and the stock's valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Dillard's, Inc. is a retailer of fashion apparel, cosmetics and home furnishing. As of January 28, 2017, the Company operated 293 Dillard's stores, including 25 clearance centers, and an Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods. The Company's segments include the Retail operations segment and the Construction segment. The Retail operations segment includes the operation of the Company's retail department stores. The Construction segment includes the operations of CDI Contractors, LLC (CDI), a general contracting construction company. CDI's business includes constructing and remodeling stores for the Company. As of January 28, 2017, the Company operated retail department stores in 29 states, primarily in the southwest, southeast and midwest regions of the United States.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
For a full detailed analysis using NASDAQ's Guru Analysis tool, click here
Since its inception, Validea's strategy based on Kenneth Fisher has returned 359.75% vs. 181.05% for the S&P 500. For more details on this strategy, click here
About Kenneth Fisher : The son of Philip Fisher, who is considered the "Father of Growth Investing", Kenneth Fisher is a money manager, bestselling author, and longtime Forbes columnist. The younger Fisher wowed Wall Street in the mid-1980s when his book Super Stocks first popularized the idea of using the price/sales ratio ( PSR ) as a means of identifying attractive stocks. According to his alma mater, Humboldt State University, Fisher is also one of the world's foremost experts on 19th century logging. Appropriately, Fisher's firm, Fisher Investments, is located in a lush forest preserve in Woodside, California, where the contrarian-minded Fisher says he and his employees can get away from Wall Street groupthink.
About Validea : Validea is an investment research service that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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DILLARD'S, INC. ( DDS ) is a mid-cap value stock in the Retail (Department & Discount) industry. As of January 28, 2017, the Company operated 293 Dillard's stores, including 25 clearance centers, and an Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods. According to his alma mater, Humboldt State University, Fisher is also one of the world's foremost experts on 19th century logging.
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DILLARD'S, INC. ( DDS ) is a mid-cap value stock in the Retail (Department & Discount) industry. The Company's segments include the Retail operations segment and the Construction segment. The Retail operations segment includes the operation of the Company's retail department stores.
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DILLARD'S, INC. ( DDS ) is a mid-cap value stock in the Retail (Department & Discount) industry. As of January 28, 2017, the Company operated 293 Dillard's stores, including 25 clearance centers, and an Internet store offering a selection of merchandise, including fashion apparel for women, men and children, accessories, cosmetics, home furnishings and other consumer goods. The Retail operations segment includes the operation of the Company's retail department stores.
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DILLARD'S, INC. ( DDS ) is a mid-cap value stock in the Retail (Department & Discount) industry. The Retail operations segment includes the operation of the Company's retail department stores. For a full detailed analysis using NASDAQ's Guru Analysis tool, click here Since its inception, Validea's strategy based on Kenneth Fisher has returned 359.75% vs. 181.05% for the S&P 500.
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eebc9502-4457-4beb-b8e8-20524f037bbc
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719591.0
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2019-02-26 00:00:00 UTC
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DDS Makes Bullish Cross Above Critical Moving Average
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DDS
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https://www.nasdaq.com/articles/dds-makes-bullish-cross-above-critical-moving-average-2019-02-26
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nan
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nan
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $75.22, changing hands as high as $81.76 per share. Dillard's Inc. shares are currently trading up about 19.9% on the day. The chart below shows the one year performance of DDS shares, versus its 200 day moving average:
Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point - that compares with a last trade of $78.89.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $75.22, changing hands as high as $81.76 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point - that compares with a last trade of $78.89. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $75.22, changing hands as high as $81.76 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point - that compares with a last trade of $78.89. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $75.22, changing hands as high as $81.76 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point - that compares with a last trade of $78.89. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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In trading on Tuesday, shares of Dillard's Inc. (Symbol: DDS) crossed above their 200 day moving average of $75.22, changing hands as high as $81.76 per share. The chart below shows the one year performance of DDS shares, versus its 200 day moving average: Looking at the chart above, DDS's low point in its 52 week range is $55.73 per share, with $98.75 as the 52 week high point - that compares with a last trade of $78.89. Click here to find out which 9 other stocks recently crossed above their 200 day moving average » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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312f836d-9229-4dc0-840b-3c07de0d3e24
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719592.0
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2019-02-26 00:00:00 UTC
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Dillard's (DDS) Q4 Earnings & Sales Beat Estimates, Stock Up
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DDS
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https://www.nasdaq.com/articles/dillards-dds-q4-earnings-sales-beat-estimates-stock-up-2019-02-26
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nan
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Shares of Dillard's Inc . DDS rose 1.4% yesterday, after reporting better-than-expected earnings and sales in fourth-quarter fiscal 2018. However, the top and bottom lines declined year over year. Earnings were impacted by higher markdowns, which significantly impacted margins.
Q4 Numbers
Dillard's reported earnings per share of $3.22, down 42% from adjusted earnings of $5.55 in the prior-year quarter. However, the figure exceeded the Zacks Consensus Estimate of $2.77.
Net sales were $2,056.3 million, which declined 2.5% from the year-ago quarter but surpassed the Zacks Consensus Estimate of $2,023 million. Excluding services and other income, sales dipped 2.4% to $2,010.6 million. Merchandise sales decreased 3.2% to $1,959 million. Sales in comparable stores for the 13-week period (ended Feb 2, 2019) increased 2% from the year-ago period.
During the fiscal fourth quarter, this Zacks Rank #3 (Hold) company witnessed robust performance in home and furniture categories along with momentum in cosmetics, and men's clothing and accessories. Notably, the eastern region performed exceedingly well, followed by the western and central regions.
Consolidated gross margin decreased 90 basis points (bps) to 29.6%, which marked a greater decline compared with retail operations. Gross margin from retail operations contracted 69 bps, mainly due to higher markdowns.
Dillard's SG&A expenses (as a percentage of sales) were down 40 bps from prior-year quarter to 22.8%. In dollar terms, the SG&A expenses decreased 4.4% to $458 million.
Financial Details
Dillard's ended fiscal 2018 with cash and cash equivalents of $123.5 million, long-term debt and capital leases of $367.2 million, and total shareholders' equity of $1,678.4 million. As of Feb 2, 2019, merchandise inventories improved 4.4% year over year to $1,528.4 million.
In fiscal 2018, the company generated operating cash flow of $367.2 million. Further, it remained committed to rewarding shareholders with dividends and buybacks. The company paid $139 million to shareholders in fiscal 2018, including cash dividends of $11.1 million and $127.9 million for share repurchases.
During the fiscal fourth quarter, the company bought back roughly 0.6 million shares for $36 million under its $500-million repurchase program announced in March 2018. As of Feb 2, 2019, the company had share buyback authorization worth $406.9 million remaining under its program.
Store Update
As of Feb 2, 2019, Dillard's had about 265 namesake outlets and 26 clearance centers, operating in 29 states alongside an online store at www.dillards.com. The company's total square footage as of Feb 2 was 49 million.
The company closed its 115,000 square feet clearance store at West Town Center in Cincinnati, OH, during the fiscal fourth quarter. Further, the company plans to close its store in Southern Park Mall in Boardman, OH, in the first quarter of fiscal 2019. The store encloses an area of 186,000 square feet.
Dillard's, Inc. Price, Consensus and EPS Surprise
Dillard's, Inc. Price, Consensus and EPS Surprise | Dillard's, Inc. Quote
Fiscal 2019 View
Dillard's provided its guidance for fiscal 2019. The company expects rentals of approximately $28 million compared with $29 million in fiscal 2018. Net interest and debt expenses are anticipated to be $46 million, down from $53 million in fiscal 2018. Furthermore, the company projects capital expenditure of about $140 million for fiscal 2018 compared with $137 million spent last year.
For fiscal 2019, depreciation and amortization expenses are projected to be $225 million compared with $224 million in fiscal 2018.
Looking for Top-Ranked Retail Stocks? Check These
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Crocs CROX has long-term earnings growth rate of 15% and a Zacks Rank #1.
Under Armour UAA has long-term earnings growth rate of 22.7% and a Zacks Rank #2 (Buy).
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Dillard's, Inc. (DDS): Free Stock Analysis Report
Under Armour, Inc. (UAA): Free Stock Analysis Report
Columbia Sportswear Company (COLM): Free Stock Analysis Report
Crocs, Inc. (CROX): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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DDS rose 1.4% yesterday, after reporting better-than-expected earnings and sales in fourth-quarter fiscal 2018. Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report Under Armour, Inc. (UAA): Free Stock Analysis Report Columbia Sportswear Company (COLM): Free Stock Analysis Report Crocs, Inc. (CROX): Free Stock Analysis Report To read this article on Zacks.com click here. During the fiscal fourth quarter, this Zacks Rank #3 (Hold) company witnessed robust performance in home and furniture categories along with momentum in cosmetics, and men's clothing and accessories.
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Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report Under Armour, Inc. (UAA): Free Stock Analysis Report Columbia Sportswear Company (COLM): Free Stock Analysis Report Crocs, Inc. (CROX): Free Stock Analysis Report To read this article on Zacks.com click here. DDS rose 1.4% yesterday, after reporting better-than-expected earnings and sales in fourth-quarter fiscal 2018. Dillard's, Inc. Price, Consensus and EPS Surprise Dillard's, Inc. Price, Consensus and EPS Surprise | Dillard's, Inc. Quote Fiscal 2019 View Dillard's provided its guidance for fiscal 2019.
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Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report Under Armour, Inc. (UAA): Free Stock Analysis Report Columbia Sportswear Company (COLM): Free Stock Analysis Report Crocs, Inc. (CROX): Free Stock Analysis Report To read this article on Zacks.com click here. DDS rose 1.4% yesterday, after reporting better-than-expected earnings and sales in fourth-quarter fiscal 2018. Financial Details Dillard's ended fiscal 2018 with cash and cash equivalents of $123.5 million, long-term debt and capital leases of $367.2 million, and total shareholders' equity of $1,678.4 million.
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DDS rose 1.4% yesterday, after reporting better-than-expected earnings and sales in fourth-quarter fiscal 2018. Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report Under Armour, Inc. (UAA): Free Stock Analysis Report Columbia Sportswear Company (COLM): Free Stock Analysis Report Crocs, Inc. (CROX): Free Stock Analysis Report To read this article on Zacks.com click here. Q4 Numbers Dillard's reported earnings per share of $3.22, down 42% from adjusted earnings of $5.55 in the prior-year quarter.
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d4e7a2ce-28ad-47da-b7d0-f052f561fdf1
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719593.0
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2019-02-26 00:00:00 UTC
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Dillard's Stock Soars 23% on Solid Earnings
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DDS
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https://www.nasdaq.com/articles/dillards-stock-soars-23-solid-earnings-2019-02-26
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nan
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nan
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Investors have struggled to get a handle on what to expect from regional department store chain Dillard's (NYSE: DDS) in recent years. The family-managed business is infamously secretive: It doesn't hold earnings call s, and it doesn't provide guidance for sales and earnings.
Meanwhile, the disruption sweeping across the U.S. retail industry has led to volatile earnings results. As a result, the stock has swung between huge gains and huge losses. For example, Dillard's stock plunged after the company's earnings reports for the second and third quarters of fiscal 2018 due to reporting a loss and missing analysts' earnings estimates by more than 50%, respectively.
This week, Dillard's stock is on the rise again. In fact, shares jumped as much as 23% in morning trading on Tuesday after the company reported better-than-expected fourth-quarter results.
Dillard's stock performance. Data by YCharts .
A solid end to the year
Dillard's stock plunged to a 52-week low during the December 2018 market sell-off after the company reported disappointing third-quarter results a month earlier. Subpar holiday sales updates at Macy's (NYSE: M) and other department stores limited the stock's January rebound. (Of course, Dillard's didn't provide a sales update, so investors just assumed that it faced trends similar to those affecting Macy's and other peers.)
However, on Monday afternoon, Dillard's revealed that it outperformed its rivals during the final quarter of fiscal 2018. Comparable-store sales rose about 2%, outpacing the analyst consensus of 0.5% growth. That also exceeded Macy's 0.7% comp sales gain by a wide margin. Dillard's noted that the home and furniture categories had the strongest sales trends, with cosmetics and men's clothing and accessories also outperforming the company average.
There were still some flaws in Dillard's performance. Retail gross margin slipped to 30.3% last quarter from 31% a year earlier. This was partially offset by good expense control. Retail operating expenses improved to 23.2% of sales in Q4 from 23.6% of sales in the prior-year period.
The net result was that Dillard's pre-tax income declined a little more than 10% to $103.8 million last quarter. However, adjusted net income grew 6% to $85.1 million, thanks to the impact of federal tax reform. Adjusted earnings per share rose 14% to $3.22, buoyed by share repurchases. Analysts had expected adjusted EPS of just $2.76.
A short squeeze drives Dillard's stock higher
While Dillard's fourth-quarter earnings results came in ahead of expectations, its pre-tax income still declined on a year-over-year basis, both for the fourth quarter and for the full year. Thus, the earnings report hardly proved that Dillard's is completely healthy.
Nevertheless, Dillard's stock skyrocketed more than 20% on Tuesday. This points to a short squeeze . Members of the founding family hold a significant proportion of the company's shares, and of the remaining shares -- the "float" in investor parlance -- nearly 60% had been borrowed and sold by short-sellers as of the end of January. With the stock price flying higher, many of these short-sellers are now racing to buy Dillard's stock so they can cover their short positions and cut their losses.
As of 2 p.m. EST on Tuesday, about 2.5 million shares of Dillard's stock had changed hands. For comparison, the average full-day trading volume over the past three months has been around 400,000 shares. There were nearly 7 million shares sold short as of the end of January, so the ongoing short squeeze could continue for the rest of this week.
Two concerns for investors
Dillard's stock now trades for about 13 times trailing earnings, a substantial premium to Macy's shares. That can be explained partly by the company's superior balance sheet. Still, investors appear to be counting on EPS growth from Dillard's going forward.
However, Dillard's ended fiscal 2018 with inventory up 4% year over year. That could lead to even greater gross margin pressure in the first half of fiscal 2019, as the company will need to clear out this inventory to make room for fresh merchandise.
Additionally, while operating cash flow improved to $367 million in fiscal 2018 from $274 million a year earlier, it remains far below the highs reached a few years ago. (Annual operating cash flow averaged $526 million between fiscal 2014 and fiscal 2016.) The decline in cash flow has forced Dillard's to cut back on share repurchases, which have been a key EPS growth driver for the company over the past decade.
Since Dillard's doesn't provide sales and earnings forecasts, investors can only guess at how these factors may impact the company's results in 2019. Given this uncertainty, investors should probably stay on the sidelines unless the stock falls back to a cheaper valuation.
10 stocks we like better than Dillard's
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*Stock Advisor returns as of February 1, 2019
Adam Levine-Weinberg owns shares of Macy's. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Investors have struggled to get a handle on what to expect from regional department store chain Dillard's (NYSE: DDS) in recent years. A solid end to the year Dillard's stock plunged to a 52-week low during the December 2018 market sell-off after the company reported disappointing third-quarter results a month earlier. Dillard's noted that the home and furniture categories had the strongest sales trends, with cosmetics and men's clothing and accessories also outperforming the company average.
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Investors have struggled to get a handle on what to expect from regional department store chain Dillard's (NYSE: DDS) in recent years. A short squeeze drives Dillard's stock higher While Dillard's fourth-quarter earnings results came in ahead of expectations, its pre-tax income still declined on a year-over-year basis, both for the fourth quarter and for the full year. Additionally, while operating cash flow improved to $367 million in fiscal 2018 from $274 million a year earlier, it remains far below the highs reached a few years ago.
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Investors have struggled to get a handle on what to expect from regional department store chain Dillard's (NYSE: DDS) in recent years. For example, Dillard's stock plunged after the company's earnings reports for the second and third quarters of fiscal 2018 due to reporting a loss and missing analysts' earnings estimates by more than 50%, respectively. A short squeeze drives Dillard's stock higher While Dillard's fourth-quarter earnings results came in ahead of expectations, its pre-tax income still declined on a year-over-year basis, both for the fourth quarter and for the full year.
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Investors have struggled to get a handle on what to expect from regional department store chain Dillard's (NYSE: DDS) in recent years. For example, Dillard's stock plunged after the company's earnings reports for the second and third quarters of fiscal 2018 due to reporting a loss and missing analysts' earnings estimates by more than 50%, respectively. (Of course, Dillard's didn't provide a sales update, so investors just assumed that it faced trends similar to those affecting Macy's and other peers.)
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aefd7902-fdf6-41e1-bd4e-73597f43ced1
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719594.0
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2019-02-26 00:00:00 UTC
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Why NIO, Dillard's, and ServiceMaster Global Holdings Jumped Today
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DDS
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https://www.nasdaq.com/articles/why-nio-dillards-and-servicemaster-global-holdings-jumped-today-2019-02-26
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nan
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nan
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The stock market didn't do much on Tuesday, as investors seemed content to listen to generally positive comments by Fed Chair Jay Powell to lawmakers on Capitol Hill. With earnings season having largely drawn to a close, most market participants are watching the overall economy for hints on its future direction, and a solid reading on consumer confidence was a net positive. Major indexes were mostly lower, but some companies got good news that sent their shares higher. NIO (NYSE: NIO) , Dillard's (NYSE: DDS) , and ServiceMaster Global Holdings (NYSE: SERV) were among the top performers. Here's why they did so well.
NIO charges up
Shares of NIO climbed nearly 9%, adding to gains on Monday following favorable news coverage on the company over the weekend. NIO was spotlighted on the program 60 Minutes , with CEO William Li getting a chance to tout the company's electric vehicles as not only luxury cars but "tickets to a new lifestyle." The news report looked at the social networking impact of NIO in China, which includes clubhouses for owners that open doors to opportunities unrelated to the vehicles. With advantages in its home market over foreign competition, NIO has a lot of potential upside , and investors are taking notice.
Dillard's rings up big gains
Dillard's saw its stock soar 20% after the retailer issued its fourth-quarter financial report. The department store specialist said that revenue rose 1% after adjusting for calendar differences, with a 2% rise in comparable-store sales in the quarter compared to the year-earlier period. Dillard's highlighted its consistent revenue generation throughout 2018, which included four quarters of positive sales gains, extensive cost controls, and return of capital through dividends and stock buybacks. The results were especially welcome in light of poor performance in recent quarters , but Dillard's still has work to do to convince naysayers that it's back on track to beat tough industry conditions and succeed.
ServiceMaster cleans up
Finally, shares of ServiceMaster Global Holdings finished higher by 16.5% . The company said that revenue climbed 12% during the fourth quarter of 2018, including a 12% rise in sales in its Terminix pest control unit. That was especially noteworthy for the company, because as CEO Nik Varty noted, "[O]ur primary goal in 2018 was to transform our Terminix business and unlock the potential to drive sustainable revenue growth." Investors also seemed pleased with projections for 6% to 8% top-line growth in 2019, and even though organic growth rates at Terminix are expected to slow, ServiceMaster's work to transform itself appears to be bearing fruit.
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* Stock Advisor returns as of Jan. 31, 2019.
Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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NIO (NYSE: NIO) , Dillard's (NYSE: DDS) , and ServiceMaster Global Holdings (NYSE: SERV) were among the top performers. With earnings season having largely drawn to a close, most market participants are watching the overall economy for hints on its future direction, and a solid reading on consumer confidence was a net positive. Dillard's highlighted its consistent revenue generation throughout 2018, which included four quarters of positive sales gains, extensive cost controls, and return of capital through dividends and stock buybacks.
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NIO (NYSE: NIO) , Dillard's (NYSE: DDS) , and ServiceMaster Global Holdings (NYSE: SERV) were among the top performers. Dillard's highlighted its consistent revenue generation throughout 2018, which included four quarters of positive sales gains, extensive cost controls, and return of capital through dividends and stock buybacks. Offer from The Motley Fool: The 10 best stocks to buy now Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market.
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NIO (NYSE: NIO) , Dillard's (NYSE: DDS) , and ServiceMaster Global Holdings (NYSE: SERV) were among the top performers. Dillard's highlighted its consistent revenue generation throughout 2018, which included four quarters of positive sales gains, extensive cost controls, and return of capital through dividends and stock buybacks. Offer from The Motley Fool: The 10 best stocks to buy now Motley Fool co-founders Tom and David Gardner have spent more than a decade beating the market.
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NIO (NYSE: NIO) , Dillard's (NYSE: DDS) , and ServiceMaster Global Holdings (NYSE: SERV) were among the top performers. NIO charges up Shares of NIO climbed nearly 9%, adding to gains on Monday following favorable news coverage on the company over the weekend. Dillard's highlighted its consistent revenue generation throughout 2018, which included four quarters of positive sales gains, extensive cost controls, and return of capital through dividends and stock buybacks.
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e42ec1c3-b97b-42ff-8dd0-71268c8027ac
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719595.0
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2019-02-26 00:00:00 UTC
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Consumer Sector Update for 02/26/2019: DDS,RCKY,ETSY,HD
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https://www.nasdaq.com/articles/consumer-sector-update-02262019-ddsrckyetsyhd-2019-02-26
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Top Consumer Stocks
WMT -0.45%
MCD +0.46%
DIS +0.22%
CVS -0.69%
KO -0.15%
Consumer stocks were slightly higher in late Tuesday trading, with shares of consumer staples companies in the S&P 500 climbing more than 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 also were rising over 0.2%.
Among consumer stocks moving on news:
(+) Dillard's ( DDS ) still was nearly 20% higher in late Tuesday trading after the department store retailer earned $3.22 per share during the 13 weeks ended Feb. 2 compared with a $5.55 per share profit during the same period last year but still exceeding the Capital IQ consensus by $0.57 per share.
In other sector news:
(+) Etsy ( ETSY ) roared as much as 17% higher to an all-time high of $68.91 on Tuesday after the ecommerce platform reported Q4 net income of $0.32 per share and a 46.8% increase in revenue over year-ago levels to $200.03 million. Analysts, on average, had been looking for Etsy to earn $0.28 per share on $194.77 million in revenue.
(+) Rocky Brands ( RCKY ) climbed 3% after late Monday reporting adjusted Q4 net income of $0.48 per share, improving on an adjusted $0.37 per share profit during the year-ago period and beating analyst estimates by $0.04 per share. Net sales for the footwear company edged 0.3% higher year-over-year to $67.2 million, also topping the $66 million consensus call.
(-) Home Depot ( HD ) slid 1% after the home improvement retailer reported a GAAP Q4 profit of $2.09 per share during the three months ended Feb. 3, up from $1.52 per share during the same quarter last year but still trailing the Capital IQ consensus expecting $2.16 per share. Net sales rose 10.9% to $26.49 billion, also lagging the $26.58 billion analyst mean.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Among consumer stocks moving on news: (+) Dillard's ( DDS ) still was nearly 20% higher in late Tuesday trading after the department store retailer earned $3.22 per share during the 13 weeks ended Feb. 2 compared with a $5.55 per share profit during the same period last year but still exceeding the Capital IQ consensus by $0.57 per share. In other sector news: (+) Etsy ( ETSY ) roared as much as 17% higher to an all-time high of $68.91 on Tuesday after the ecommerce platform reported Q4 net income of $0.32 per share and a 46.8% increase in revenue over year-ago levels to $200.03 million. Analysts, on average, had been looking for Etsy to earn $0.28 per share on $194.77 million in revenue.
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Among consumer stocks moving on news: (+) Dillard's ( DDS ) still was nearly 20% higher in late Tuesday trading after the department store retailer earned $3.22 per share during the 13 weeks ended Feb. 2 compared with a $5.55 per share profit during the same period last year but still exceeding the Capital IQ consensus by $0.57 per share. Consumer stocks were slightly higher in late Tuesday trading, with shares of consumer staples companies in the S&P 500 climbing more than 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 also were rising over 0.2%. (+) Rocky Brands ( RCKY ) climbed 3% after late Monday reporting adjusted Q4 net income of $0.48 per share, improving on an adjusted $0.37 per share profit during the year-ago period and beating analyst estimates by $0.04 per share.
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Among consumer stocks moving on news: (+) Dillard's ( DDS ) still was nearly 20% higher in late Tuesday trading after the department store retailer earned $3.22 per share during the 13 weeks ended Feb. 2 compared with a $5.55 per share profit during the same period last year but still exceeding the Capital IQ consensus by $0.57 per share. Consumer stocks were slightly higher in late Tuesday trading, with shares of consumer staples companies in the S&P 500 climbing more than 0.2% this afternoon while shares of consumer discretionary firms in the S&P 500 also were rising over 0.2%. (+) Rocky Brands ( RCKY ) climbed 3% after late Monday reporting adjusted Q4 net income of $0.48 per share, improving on an adjusted $0.37 per share profit during the year-ago period and beating analyst estimates by $0.04 per share.
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Among consumer stocks moving on news: (+) Dillard's ( DDS ) still was nearly 20% higher in late Tuesday trading after the department store retailer earned $3.22 per share during the 13 weeks ended Feb. 2 compared with a $5.55 per share profit during the same period last year but still exceeding the Capital IQ consensus by $0.57 per share. (+) Rocky Brands ( RCKY ) climbed 3% after late Monday reporting adjusted Q4 net income of $0.48 per share, improving on an adjusted $0.37 per share profit during the year-ago period and beating analyst estimates by $0.04 per share. Net sales for the footwear company edged 0.3% higher year-over-year to $67.2 million, also topping the $66 million consensus call.
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719596.0
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2019-02-26 00:00:00 UTC
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Dillard’s Earnings: DDS Stock Soars on an Impressive Q4
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https://www.nasdaq.com/articles/dillards-earnings-dds-stock-soars-impressive-q4-2019-02-26
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Dillard's earnings report for the fourth quarter of 2018 has DDS stock flying high on Tuesday.
Source: Shutterstock
The good news for Dillard's (NYSE: DDS ) starts with earnings per share of $3.22 for the fourth quarter of 2018. This is up from the company's earnings per share of $2.82 reported in the fourth quarter of 2017. It was also a boon to DDS stock by blowing past Wall Street's earnings per share estimate of $2.76 for the period.
Dillard's earnings report for the fourth quarter of the year also includes net income of $85.10 million. This is down from the company's net income of $157.60 million reported in the same period of the year prior. However, it is worth noting that net income from the fourth quarter of 2017 includes a benefit of $77.4 million from the Tax Cuts and Jobs Act of 2017.
The Dillard's earnings report for the fourth quarter of 2018 also has revenue coming in at $2.06 billion . This is a drop from the company's revenue of $2.11 billion reported in the fourth quarter of the previous year. This has the company missing Wall Street's revenue estimate of $2.08 billion for the quarter, but that wasn't enough to keep DDS stock down today.
10 Blue-Chip Stocks to Lead the Market
Dillard's notes that its sales for the fourth quarter of the year were strongest in its home and furniture category. The next strongest category for the retail company's sales during the quarter was cosmetics.
DDS stock was up 21% as of Tuesday afternoon and is up 5% since the start of the year.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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The post Dillard's Earnings: DDS Stock Soars on an Impressive Q4 appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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This has the company missing Wall Street's revenue estimate of $2.08 billion for the quarter, but that wasn't enough to keep DDS stock down today. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Dillard's earnings report for the fourth quarter of 2018 has DDS stock flying high on Tuesday. Source: Shutterstock The good news for Dillard's (NYSE: DDS ) starts with earnings per share of $3.22 for the fourth quarter of 2018.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Dillard's earnings report for the fourth quarter of 2018 has DDS stock flying high on Tuesday. This has the company missing Wall Street's revenue estimate of $2.08 billion for the quarter, but that wasn't enough to keep DDS stock down today. Source: Shutterstock The good news for Dillard's (NYSE: DDS ) starts with earnings per share of $3.22 for the fourth quarter of 2018.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Dillard's earnings report for the fourth quarter of 2018 has DDS stock flying high on Tuesday. Source: Shutterstock The good news for Dillard's (NYSE: DDS ) starts with earnings per share of $3.22 for the fourth quarter of 2018. It was also a boon to DDS stock by blowing past Wall Street's earnings per share estimate of $2.76 for the period.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Dillard's earnings report for the fourth quarter of 2018 has DDS stock flying high on Tuesday. Source: Shutterstock The good news for Dillard's (NYSE: DDS ) starts with earnings per share of $3.22 for the fourth quarter of 2018. It was also a boon to DDS stock by blowing past Wall Street's earnings per share estimate of $2.76 for the period.
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2019-02-19 00:00:00 UTC
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Factors Likely to Influence Dillard's (DDS) Earnings in Q4
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DDS
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https://www.nasdaq.com/articles/factors-likely-to-influence-dillards-dds-earnings-in-q4-2019-02-19
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Dillard's, Inc.DDS is likely to witness a marginal decline in the bottom line when this departmental store chain reports fourth-quarter fiscal 2018 numbers. In the preceding quarter, this Arkansas-based company had posted dismal earnings, which also fell short of the Zacks Consensus Estimate. However, the company delivered average four-quarter positive earnings surprise of 21.2%.
Coming back to the quarter under review, we note that the Zacks Consensus Estimate for earnings is pegged at $2.80, reflecting a dip of 0.7% from $2.82 earned in the year-ago period. Notably, estimates moved north over the past seven days. For revenues, the consensus mark stands at $2,003 million, reflecting nearly 5% decline from the year-ago quarter number.
Dillard's, Inc. Price, Consensus and EPS Surprise
Dillard's, Inc. Price, Consensus and EPS Surprise | Dillard's, Inc. Quote
Factors That Hold the Key to Dillard's Performance
In the retail apparel space, Dillard's remains prone to the challenging trends due to changing customer preferences. In the las t report ed quarter, increased markdowns significantly dented margins and weighed on the company's bottom-line performance. Consolidated gross margin reflected greater decline than gross margin for retail operations as volume for the lower-margin CDI business improved. Stiff competition in the industry remains an added concern. These headwinds are likely to persist in the to-be-reported quarter.
For fiscal 2018, the company had earlier projected rentals of approximately $29 million. While net interest and debt expenses are anticipated to be $54 million, depreciation and amortization expenses are projected to be $225 million. Further, it expects capital expenditures of about $140 million for the fiscal year.
Nevertheless, Dillard's is expected to benefit from growth opportunities in both its brick-and-mortar stores and e-commerce business. On the store front, the company will gain by enhancing brand relations, focusing on in-trend categories and store remodels, and rewarding store personnel. Meanwhile, some of the strategies to boost its e-commerce business include enhancement of merchandise assortments and effective inventory management.
Further, the company has been witnessing higher comparable store sales backed by exclusive merchandise offerings and robust store-growth efforts. Solid performance across most of its product categories also drives optimism.
What Does the Zacks Model Unveil?
Our proven model does not conclusively show that Dillard's is likely to beat estimates in fourth-quarter fiscal 2018. This is because a stock needs to have both - a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a positive Earnings ESP - for this to happen. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter .
Although Dillard's has a Zacks Rank #3 that increases the predictive power o f earnings beat, an Earnings ESP of -2.68% makes surprise prediction difficult.
3 Stocks With Favorable Combination
Here are three companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
Abercrombie & Fitch ANF has an Earnings ESP of +0.94% and a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here .
American Eagle Outfitters, Inc. AEO has an Earnings ESP of +0.60% and a Zacks Rank #2.
The Home Depot, Inc. HD has an Earnings ESP of +1.22% and a Zacks Rank #3.
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The Home Depot, Inc. (HD): Free Stock Analysis Report
Abercrombie & Fitch Company (ANF): Free Stock Analysis Report
American Eagle Outfitters, Inc. (AEO): Free Stock Analysis Report
Dillard's, Inc. (DDS): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's, Inc.DDS is likely to witness a marginal decline in the bottom line when this departmental store chain reports fourth-quarter fiscal 2018 numbers. Click to get this free report The Home Depot, Inc. (HD): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report American Eagle Outfitters, Inc. (AEO): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. In the las t report ed quarter, increased markdowns significantly dented margins and weighed on the company's bottom-line performance.
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Click to get this free report The Home Depot, Inc. (HD): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report American Eagle Outfitters, Inc. (AEO): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Dillard's, Inc.DDS is likely to witness a marginal decline in the bottom line when this departmental store chain reports fourth-quarter fiscal 2018 numbers. Dillard's, Inc. Price, Consensus and EPS Surprise Dillard's, Inc. Price, Consensus and EPS Surprise | Dillard's, Inc. Quote Factors That Hold the Key to Dillard's Performance In the retail apparel space, Dillard's remains prone to the challenging trends due to changing customer preferences.
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Click to get this free report The Home Depot, Inc. (HD): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report American Eagle Outfitters, Inc. (AEO): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Dillard's, Inc.DDS is likely to witness a marginal decline in the bottom line when this departmental store chain reports fourth-quarter fiscal 2018 numbers. Dillard's, Inc. Price, Consensus and EPS Surprise Dillard's, Inc. Price, Consensus and EPS Surprise | Dillard's, Inc. Quote Factors That Hold the Key to Dillard's Performance In the retail apparel space, Dillard's remains prone to the challenging trends due to changing customer preferences.
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Dillard's, Inc.DDS is likely to witness a marginal decline in the bottom line when this departmental store chain reports fourth-quarter fiscal 2018 numbers. Click to get this free report The Home Depot, Inc. (HD): Free Stock Analysis Report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report American Eagle Outfitters, Inc. (AEO): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report To read this article on Zacks.com click here. Nevertheless, Dillard's is expected to benefit from growth opportunities in both its brick-and-mortar stores and e-commerce business.
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2019-02-19 00:00:00 UTC
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Stocks Cruise to an 8th Straight Week of Gains
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https://www.nasdaq.com/articles/stocks-cruise-8th-straight-week-gains-2019-02-19
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Stocks easily achieved their 8th straight week in the green on Friday, as the market continues to move higher on good vibes for trade negotiations with China.
Each of the major indices already had 1% gains heading into today's session… and two of them managed to add another 1%, and then some, by the closing bell.
The Dow soared 1.74% (or nearly 444 points) on Friday to 25,883.25, while the S&P increased 1.09% to 2775.60. The NASDAQ lagged its counterparts as the FAANGs didn't participate in the rally, but the index still advanced 0.61% to 7472.41.
Unlike the last couple of days, stocks moved even higher in the final hour of trading.
The Dow and the NASDAQ now have 8-week winning streaks after gains of more than 3% and 2.4%, respectively, over the last 5 days. In other words, they haven't had a losing week so far in 2019 after hitting bottom on Christmas Eve.
The S&P jumped 2.5%, marking its third straight week in the green and its 7th in the past 8.
On the trade front, we already knew that Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer were negotiating in China this week and that President Trump is willing to extend the early March deadline that would bring higher tariffs.
While there are still no breakthroughs, the market liked hearing that trade talks would resume next week in Washington. There's not going to be a deal unless the two sides continue communicating, so our positive sentiment remains intact for now in hopes that an agreement can be made sooner rather than later… perhaps even before the March deadline.
In other deal news, we won't have a sequel to the longest government shutdown in history, as President Trump signed the spending agreement worked out in Congress. He also declared a national emergency to get the funds for a border wall. This will set off a lot of legal drama in Washington, but the market is just thrilled that the government's doors will remain open.
Today's Portfolio Highlights:
Stocks Under $10: The market continues to rise and this portfolio is almost completely in the green, so Brian Bolan is feeling a bit riskier than normal. On Friday, he picked up Blink Charging (BLNK), a small owner, operator and provider of EV charging stations and services. The stock has been "off to the races" since bottoming out under $2 a few weeks ago, and the editor believes it could be on the verge of a breakout if the hot money returns. Read the full write-up for more on this new pick. The addition of BLNK brings the service up to 13 names, which means there's still two spots open to get to the ideal complement of 15 positions. Be ready for at least one more next week.
Home Run Investor: In another "risk on" move, Brian Bolan picked up Materialise (MTLS) on Friday. The Zacks Rank #2 (Buy) makes software for the 3D printing space and other engineering software for the biomedical sector. Software is pretty hot right now, but this name is on the smaller side and doesn't have the market's attention at the moment. However, the editor thinks there's a good chance that the hot money players will eventually get around to MTLS… and then the stock will be all set to round the bases. Read the full write-up for more.
TAZR Trader: In the wake of yesterday's surprisingly weak retail sales data, Kevin thought it was a good time to short a retailer that has a "setup for disappointment". Dillards (DDS) reports on February 26, and it has a negative Earnings ESP of 2.7% to go along with an earnings growth forecast for a 6% decline. With the stock hanging around $70, the editor shorted it with a 5% allocation. He also added to the Direxion Daily Small Cap Bear 3X Shares (TZA) position. Get specifics on these moves in the full write-up.
Counterstrike:"A plethora of positive headlines came from China as the trade talks have accelerated and will continue in Washington DC next week. According to both sides, China and the US are to issue a memorandum of understanding by the end of the day after this week talks.
"This mean we have a deal in the works, with the details to be ironed out. This is exactly what the market wanted to hear and the bulls were buying all day.
"You would think a bigger day might come, but we have to understand that a lot of this deal has been priced in over the last couple week. If we get an official deal, I would expect another round of buying." -- Jeremy Mullin.
Have a Great Three-Day Weekend!
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Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillards (DDS) reports on February 26, and it has a negative Earnings ESP of 2.7% to go along with an earnings growth forecast for a 6% decline. Stocks easily achieved their 8th straight week in the green on Friday, as the market continues to move higher on good vibes for trade negotiations with China. There's not going to be a deal unless the two sides continue communicating, so our positive sentiment remains intact for now in hopes that an agreement can be made sooner rather than later… perhaps even before the March deadline.
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Dillards (DDS) reports on February 26, and it has a negative Earnings ESP of 2.7% to go along with an earnings growth forecast for a 6% decline. Stocks easily achieved their 8th straight week in the green on Friday, as the market continues to move higher on good vibes for trade negotiations with China. Home Run Investor: In another "risk on" move, Brian Bolan picked up Materialise (MTLS) on Friday.
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Dillards (DDS) reports on February 26, and it has a negative Earnings ESP of 2.7% to go along with an earnings growth forecast for a 6% decline. Stocks easily achieved their 8th straight week in the green on Friday, as the market continues to move higher on good vibes for trade negotiations with China. On the trade front, we already knew that Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer were negotiating in China this week and that President Trump is willing to extend the early March deadline that would bring higher tariffs.
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Dillards (DDS) reports on February 26, and it has a negative Earnings ESP of 2.7% to go along with an earnings growth forecast for a 6% decline. Stocks easily achieved their 8th straight week in the green on Friday, as the market continues to move higher on good vibes for trade negotiations with China. The Dow and the NASDAQ now have 8-week winning streaks after gains of more than 3% and 2.4%, respectively, over the last 5 days.
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2019-02-04 00:00:00 UTC
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Check Out Tapestry's (TPR) Probability to Beat in Q2 Earnings
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https://www.nasdaq.com/articles/check-out-tapestrys-tpr-probability-to-beat-in-q2-earnings-2019-02-04
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Tapestry, Inc.TPR is slated to release second-quarter fiscal 2019 results on Feb 7. In the trailing four quarters, this house of lifestyle brands as well as designer and marketer of fine accessories and gifts has outperformed the Zacks Consensus Estimate, recording average positive earnings surprise of 11.7%. In the las t report ed quarter, the company delivered a positive earnings surprise of 9.1%.
After registering bottom-line increase of 14% in the first quarter of fiscal 2019, Tapestry is likely to deliver year-over-year growth of about 3.7% in the second quarter of fiscal 2019. The Zacks Consensus Estimate for the quarter under review is pegged at $1.11 compared with $1.07 reported in the year-ago quarter. We note that the Zacks Consensus Estimate has remained stable in the last 30 days.
The Zacks Consensus Estimate for revenues stands at $1,860 million, up from $1,785 million in the year-ago quarter. If all goes well, this will be the fifth straight quarter of top-line beat.
Factors Likely to Influence Tapestry's Performance
Multi-Brand Strategy Likely to Lift Top Line
Tapestry looks quite disciplined in its approach to adapt to the changing retail landscape. Management has undertaken transformation initiatives revolving around product, stores and marketing, which are likely to have a favorable impact on second-quarter results. The company is undergoing a brand transformation and introducing modern luxury concept stores in key markets. Acquisitions of Stuart Weitzman and Kate Spade are a significant step toward becoming a multi-brand company.
The Zacks Consensus Estimate of sales for Coach, Kate Spade and Stuart Weitzman brands reflects likely growth of 1.6%, 12.3% and 1.9% to $1,249 million, $488 million and $123 million, respectively.
Direct Control Over International Distribution to Play Crucial Role
Management has undertaken initiatives to have direct control over international distribution. The company concluded the buybacks of the Kate Spade operations in Singapore, Malaysia and Australia. It also completed the buyback of the Stuart Weitzman business in Southern China. The company had earlier hinted that it has entered into a deal to acquire the Stuart Weitzman business in Australia from its distribution partner. Such moves aid the company to directly operate these businesses, look for growth opportunities in international markets and enhance brand development.
Tapestry, Inc. Price, Consensus and EPS Surprise
Tapestry, Inc. Price, Consensus and EPS Surprise | Tapestry, Inc. Quote
Other Factors Likely to Impact Results
The company is aggressively expanding its e-commerce platform. Tapestry also plans to undertake strategic measures involving the upgrade of core technology platforms and enhancement of international supply chain. However, sluggish mall traffic, increased online competition and aggressive pricing strategy are affecting the industry, and the company is not fully immune to it. Moreover, the trade war between the United States and China poses a threat. Tapestry continues to focus on Asian markets, primarily China for long-term growth. Nonetheless, the company informed that its production of handbags and other leather goods remain less than 5% in China.
What the Zacks Model Unveils?
Our proven model does not conclusively show that Tapestry is likely to beat estimates this quarter. A stock needs to have both - a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a positive Earnings ESP - for this to happen. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter .
Tapestry has a Zacks Rank #3 but an Earnings ESP of -0.07%, which makes surprise prediction difficult. You can see the complete list of today's Zacks #1 Rank stocks here .
3 Stocks With Favorable Combination
Here are three companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:
Foot Locker FL has an Earnings ESP of +2.90% and a Zacks Rank #2.
Five Below FIVE has an Earnings ESP of +0.45% and a Zacks Rank #2.
Dillard's, Inc. DDS has an Earnings ESP of +14.44% and a Zacks Rank #3.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 - 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
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Foot Locker, Inc. (FL): Get Free Report
Five Below, Inc. (FIVE): Free Stock Analysis Report
Dillard's, Inc. (DDS): Free Stock Analysis Report
Tapestry, Inc. (TPR): Get Free Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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Dillard's, Inc. DDS has an Earnings ESP of +14.44% and a Zacks Rank #3. Click to get this free report Foot Locker, Inc. (FL): Get Free Report Five Below, Inc. (FIVE): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report Tapestry, Inc. (TPR): Get Free Report To read this article on Zacks.com click here. In the trailing four quarters, this house of lifestyle brands as well as designer and marketer of fine accessories and gifts has outperformed the Zacks Consensus Estimate, recording average positive earnings surprise of 11.7%.
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Click to get this free report Foot Locker, Inc. (FL): Get Free Report Five Below, Inc. (FIVE): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report Tapestry, Inc. (TPR): Get Free Report To read this article on Zacks.com click here. Dillard's, Inc. DDS has an Earnings ESP of +14.44% and a Zacks Rank #3. In the trailing four quarters, this house of lifestyle brands as well as designer and marketer of fine accessories and gifts has outperformed the Zacks Consensus Estimate, recording average positive earnings surprise of 11.7%.
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Click to get this free report Foot Locker, Inc. (FL): Get Free Report Five Below, Inc. (FIVE): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report Tapestry, Inc. (TPR): Get Free Report To read this article on Zacks.com click here. Dillard's, Inc. DDS has an Earnings ESP of +14.44% and a Zacks Rank #3. Tapestry, Inc. Price, Consensus and EPS Surprise Tapestry, Inc. Price, Consensus and EPS Surprise | Tapestry, Inc. Quote Other Factors Likely to Impact Results The company is aggressively expanding its e-commerce platform.
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Dillard's, Inc. DDS has an Earnings ESP of +14.44% and a Zacks Rank #3. Click to get this free report Foot Locker, Inc. (FL): Get Free Report Five Below, Inc. (FIVE): Free Stock Analysis Report Dillard's, Inc. (DDS): Free Stock Analysis Report Tapestry, Inc. (TPR): Get Free Report To read this article on Zacks.com click here. In the trailing four quarters, this house of lifestyle brands as well as designer and marketer of fine accessories and gifts has outperformed the Zacks Consensus Estimate, recording average positive earnings surprise of 11.7%.
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