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Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

How Macy’s explains itself. How the 10-year note auction went.

Click here for information on RealMoney, where you can see all the blogs, including Doug Kass’–and reader comments–in real time.

  Now You Know the Rest of the Story   Originally published May 11 at 11:03 a.m. EST   Here is a summary of the Macy’s ( M) conference call: Says it expected Q1 to be its weakest quarter of the year due to the initiation of its strategic initiatives Notes the back half of the quarter performed better than the first Says trend improved and expects the ‘trend and improvement’ to continue in Q2 and build in Q3 Cites 4 reasons for the trend improvement: Benefit from the retained sales from closed stores just started to be experienced Rollout of its pilots New marketing strategy Improvement on the digital front Sales continued to grow double digits in the digital channel Saw slowdown in traffic at mall-based stores Notes southwest region based out of LA was strongest and the Northeast region was weakest Weaker biz in the quarter included handbags, fashion jewelry, and watches, housewares and top of table Trends at Bloomingdales were similar Still expects capex of about $900 million for the year Position: None.   Auction Action   Originally published May 10 at 2:29 p.m. EST

After a weak 3-year note auction, the 10-year note auction was worse. The yield of 2.40% was almost 2 bps above the when issued. The bid to cover of 2.33 was below the twelve month average of 2.47 and dealers got stuck with 34% of the auction, above the one year average of 28%. Treasuries immediately sold off in response and now the off the run is yielding 2.41% vs 2.37% earlier today and up 1 bp vs. yesterday’s close. As the 2-year yield is up 1 bp too, the spread between the two is unchanged.

stock exchange hours: Luby's, Inc.(LUB)

Advisors’ Opinion:

  • [By Monica Gerson]

    Luby’s, Inc. (NYSE: LUB) is expected to post earnings for the latest quarter.

    Simulations Plus, Inc. (NASDAQ: SLP) is estimated to post its quarterly earnings at $0.07 per share on revenue of $5.00 million.

stock exchange hours: Jabil Circuit Inc.(JBL)

Advisors’ Opinion:

  • [By Monica Gerson]

    Analysts expect Jabil Circuit, Inc. (NYSE: JBL) to post its quarterly earnings at $0.60 per share on revenue of $4.50 billion. Jabil Circuit shares fell 0.83 percent to close at $21.42 yesterday.

  • [By Peter Graham]

    Mid cap electronic manufacturing services (EMS) stock Jabil Circuit, Inc (NYSE: JBL), whos biggest customer would be Apple Inc (NASDAQ: AAPL), reported preliminary, unaudited financial results fiscal Q3 2017 earnings along with guidance that beat expectations. Net revenue was $4,490 million versus $4,311 million asDiversified Manufacturing revenue increased 14% whileElectronics Manufacturing revenue decreased of 1%. The net loss was $25 million versus net income of $5 million. The CEO commented:

  • [By WWW.THESTREET.COM]

    Shares rose 6.3% after hours to $159.50, and made fresh highs. They’re now up 37% on the year. iPhone/iPad suppliers also got a boost: Cirrus Logic Inc. (CRUS)  rose 4.2% to $65.70, Skyworks Solutions Inc. (SWKS)  rose 3.1% to $107.50, Qorvo Inc.  (QRVO) rose 2.7% to $69.90, Jabil Inc.  (JBL) rose 1.2% to $30.78 and Broadcom Ltd. (AVGO)  rose 2.8% to $255.40.

  • [By Lisa Levin]

    Shares of Jabil Circuit, Inc. (NYSE: JBL) were down 10 percent to $19.86 as the company reported weaker-than-expected results for its fiscal second quarter and lowered its full-year outlook.

  • [By Amber Hestla, Michael J. Carr]

    Another Apple supplier to consider is Jabil Circuit (NYSE: JBL), a company that offers a number of manufacturing services to customers in the technology sector.

stock exchange hours: Monotype Imaging Holdings Inc.(TYPE)

Advisors’ Opinion:

  • [By Lisa Levin]

    Shares of Monotype Imaging Holdings Inc. (NASDAQ: TYPE) were down around 12 percent to $20.90 after the company posted downbeat quarterly earnings.

  • [By Lisa Levin]

    Wednesday afternoon, the non-cyclical consumer goods & services shares surged 0.61 percent. Meanwhile, top gainers in the sector included Monotype Imaging Holdings Inc. (NASDAQ: TYPE), up 9 percent, and Semiconductor Manufacturing Int'l (ADR) (NYSE: SMI), up 6 percent.

stock exchange hours: The Bon-Ton Stores, Inc.(BONT)

Advisors’ Opinion:

  • [By Peter Graham]

    Small cap department store stock The Bon-Ton Stores, Inc (NASDAQ: BONT)reported fiscalQ1 earnings before the market opened this morning with total salesdown 9.3% to $536.1 million and comparable store sales down 8.8%. Theearnings release noted:

  • [By Peter Graham]

    Small cap department store stock The Bon-Ton Stores, Inc (NASDAQ: BONT) reported Q2 2017 earnings before the market opened on Thursday while earnings guidance for the full year fiscal 2017 was reaffirmed. Total sales decreased 7.0% to $504.4 million as comparable store sales decreased 6.1% versus the prior year period. However,double-digit sales growth continued in the omnichannel, which reflects sales via the Company’s website, mobile site, and its Let Us Find It customer service program, as the Company leveraged its West Jefferson facility and store-fulfillment network. The net loss was $33.2 million versus a net loss of $38.7 million.The CEO commented:

  • [By Adam Levine-Weinberg]

    Lastly, there are a few department-store chains that have been struggling mightily. Sears tops the list, of course. Bon-Ton Stores (NASDAQ:BONT) and Neiman Marcus are also in serious trouble. All three chains have too much debt and have been reporting some of the worst sales results in the industry.

stock exchange hours: Rubicon Technology, Inc.(RBCN)

Advisors’ Opinion:

  • [By Jim Robertson]

    On Thursday, our Under the Radar Moversnewsletter suggested shorting small cap LED semiconductor stockRubicon Technology (NASDAQ: RBCN):

    Rubicon Technology isn’t going to be a monster-sized winner for us, even if things go perfectly. About the best downside target we could hope for is the $0.60 area, where the stock was launched into an unsustainable uptrend a week ago. But, it’s a high-odds trade we can’t pass up. Yesterday’s doji bar after a big rally was a warning sign that we were transitioning into a net-selling environment. Today’s sharp pullback confirms we’re moving into that bearish mode.

stock exchange hours: American International Group Inc.(AIG)

Advisors’ Opinion:

  • [By Ben Levisohn]

    BMO’s Charles Sebaski explains why he upgraded American International Group (AIG) to Outperform from market Perform:

    Agence France-Presse/Getty Images

    AIG has been trading at discount to its tangible book given its mid-single digit return profile; however, we expect AIGs valuation to keep increasing with its improving return profile. We are now forecasting AIG to generate a 9.9% operating return on tangible common equity (ROtE) in 2018, which would be a 450 bp improvement from 2016. A double-digit return profile warrants the 1x multiple that we are applying to its tangible book value per share. While we expect AIGs return profile to benefit from lower taxes, we also expect the companys life and retirement business to improve from the rising interest rates as those spread businesses are more interest rate sensitive than the P&C business. That said, we expect continued improvement on both the loss and expense sides of the P&C as contributing factors to the ROtE improve.

    BMO also upgraded Arch Capital Group (ACGL), Brown & Brown (BRO), and Travelers (TRV).

    Shares of American International Group have declined 0.4% to $65.60 at 3:36 p.m. today, whileArch Capital Group has gained 2% to $87.90,Brown & Brown has advanced 0.5% to $44.65, andTravelers has risen 1.3% to $120.79.

  • [By Ben Levisohn]

    American International Group (AIG) tumbled to the bottom of the S&P 500 today after its earnings fell well short of the Street consensus.

    Agence France-Presse/Getty Images

    AIG dropped 8.9% to $60.85 today, while the S&P 500 gained 0.5% to 2,349.25.

    Yes, AIG’s earnings were bad. It reported an operating loss of $2.72 a share, missing forecasts for a profit of 42 cents, according to Bloomberg. And it didn’t help that John Paulson’s Paulson & Co. cut its stake in the insurer.

    You’ll notice the forecast is different than what it was in my earlier post on AIG–and an AIG spokesperson even reached out to tell me that the consensus, at least according to FactSet, should had been for a loss of 61 cents a share. Why the confusion? RBC’s Mark Dwelle and Scott Heleniak have your answer:

    In reporting results AIG has recast all of its business segments, transferring various pieces to a Legacy unit, reallocating corporate expenses and net investment income as well as making some changes as to what is included within operating income, the most notable of which is that loss reserve discount effects in U.S. Commercial Insurance (and the Legacy unit) are now excluded from Operating Income. Accordingly, comparisons to prior reported results, and to some extent our 4Q16 estimates, require some reconciliation.

    Macquarie’sAmit Kumar considers the bull and bear cases on AIG:

    On 2/14, after market close, AIG reported a Q4 operating loss of $2.72 per share vs. our estimate of a $0.52 loss and street consensus of a $0.54 loss. Results are not directly comparable to street consensus due to lack of unanimity in terms of reserve adjustment estimates. Results included a higher than estimated $5.6 billion or $3.56/share of adverse development. The company had previously announced the possibility of a material reserve charge in the quarter. The bulls on the stock would note that this quar

  • [By Ben Levisohn]

    Heading into its earnings following the close of trading yesterday, shares of American International Group (AIG) had gained 34% from its low on Jun. 28 to Feb. 14. Then the bottom fell out.

  • [By Dan Caplinger]

    Wednesday was yet another record-setting day for the stock market, as the Dow climbed triple digits and the S&P 500 and Nasdaq Composite followed the venerable average to unprecedented heights. Economic data showing rising inflation made it more likely that the Federal Reserve will look to boost interest rates at its next Federal Open Market Committee meeting next month, and the ripples throughout the bond market sent many investors to consider stocks instead. Yet despite the substantial rally, some stocks missed out on the move higher, and American International Group (NYSE:AIG), Teck Resources (NYSE:TECK), and Movado Group (NYSE:MOV) were among the worst performers on the day. Below, we’ll look more closely at these stocks to tell you why they did so poorly.

  • [By Lisa Levin]

    Some of the stocks that may grab investor focus today are:

    Wall Street expects Dr Pepper Snapple Group Inc. (NYSE: DPS) to report quarterly earnings at $1.06 per share on revenue of $1.57 billion before the opening bell. Dr Pepper Snapple shares fell 0.07 percent to close at $93.49 on Monday.
    Analysts expect American International Group Inc (NYSE: AIG) to post quarterly earnings at $1.01 per share on revenue of $12.87 billion after the closing bell. AIG shares gained 0.38 percent to $66.39 in after-hours trading.
    Flowers Foods, Inc. (NYSE: FLO) reported in-line earnings for its fourth quarter, while sales missed expectations. Flowers Foods shares fell 1.87 percent to $20.45 in the after-hours trading session.
    Before the markets open, Diebold Nixdorf Inc (NYSE: DBD) is projected to report its quarterly earnings at $0.32 per share on revenue of $1.31 billion. Diebold Nixdorf shares slipped 0.73 percent to close at $27.20 on Monday.

    Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

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