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Today - Thursday, February 23, 2012
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8:07 AM Citigroup (C) plans to raise up to $2.1B by selling its entire stake in India's Housing Development Finance Corp tomorrow, sources say. Citigroup holds 145M shares, or around a 9.9% stake, and is apparently selling the stake to bolster its capital in light of new banking rules. [Financials] Comment!
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8:05 AM Investor sentiment is little changed from last week, according to the AAII survey, with about 2% getting off the neutral fence - half going to the bulls and half to the bears. Bullish sentiment is at 43.7% against the long-term average of 39%. Bearish, 27.5% against the long-term average of 30%. Comment!
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8:03 AM More on Kohl's (KSS) Q4: Comparable store sales -2.1% Y/Y. E-commerce business crossed $1B mark for full year. Sees EPS of $4.75 in FY12, based on a total sales increase of 4.5% and a comparable store sales increase of 2%. Shares -2.4% premarket. (PR) [Earnings, On the Move] Comment!
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8:01 AM NII Holding(NIHD): Q4 EPS of -$0.05 may not be comparable to consensus of $0.26. Revenue of $1.6B (+4.9% Y/Y) misses by $80M. Shares -1.7% premarket. (PR) [Earnings, On the Move] Comment!
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7:56 AM The average 30-year fixed mortgage rate climbed 6 basis points to a one-month high of 4.16% last week, according to Bankrate. Other benchmarks rose as well, the 15-year up 3 bps to 3.38% and the 5/1 up 9 bps to 3.12%. [U.S. Economy] Comment!
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7:56 AM Target's (TGT) big bet on Canada gets its first test with a temporary store in Toronto that opens today. The company is hoping to hit a sweet spot in Canada's retailing landscape between Harry Rosen and Holt Renfrew on the high end and Zellers and Wal-Mart on the low end. Target's full launch of 135 stores is planned for 2013. [Global & FX, Consumer] Comment!
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7:55 AM Sears Holdings (SHLD): Q4 EPS of $0.54 misses by $0.24. Revenue of $12.48B (-4% Y/Y) in-line with consensus. Will separate its Hometown and Outlets Businesses and certain hardware stores, which will raise $400M-500M. Completing real estate transaction for 11 stores for $270M. (PR) [Consumer, Breaking News, Earnings] 1 Comment
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7:46 AM More on Target (TGT): The company sees 2012 EPS of $4.55-4.75 against consensus $4.28. Q4 comparable-store sales +2.2% Y/Y. Q4 profit margin of 7.8%, down from 7.9% a year ago. Company repurchased $1.9B in shares in 2011, 5.3% of the float. Shares +0.4% premarket. [Earnings, Consumer, On the Move] Comment!
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7:45 AM AerCap Holdings (AER) CEO Aengus Kelly says a "vast" amount of overordering could leave Boeing (BA) and Airbus (EADSY.PK) with too many planes built as buyers decide to pare back. The aircraft-leasing exec questions whether smaller carriers such as Lion Air and Norwegian Air Shuttle bit off more than they can chew with their recent mega-sized orders. [Global & FX] Comment!
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7:37 AM "We have to be realistic. It's not yet in the bank," says a senior IMF official warning of "huge implementation risks" for the Greek bailout. Translation: It's easier to cut a check allowing Greece to pay its creditors (while taking on new ones) than it is for extra-national officials sitting in a room to remake an entire country. [Global & FX] Comment!
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7:37 AM Target (TGT): Q4 EPS of $1.45 beats by $0.05. Revenue of $20.9B (+3.3% Y/Y) misses by $300M. Shares +2.9% premarket. (PR) [Earnings, On the Move] Comment!
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7:34 AM JPMorgan lines up a $45 price target on Vivus (VVUS) in the wake of the company's FDA approval for its weight-loss drug. Analysts with the firm keep an Overweight rating in place, saying "we would still be buyers here given the magnitude of the vote." Shares +115.7% premarket to $22.75. [Healthcare, On the Move, Quick Ideas] Comment!
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7:30 AM Teleflex (TFX): Q4 EPS of $1.07 may not be comparable to consensus of $1.04. Revenue of $411.7M (+6.6% Y/Y) beats by $7M. (PR) [Earnings, Healthcare] Comment!
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7:27 AM Darden Restaurants (DRI) sees FQ3 (ending Feb. 26) EPS of $1.23-1.25, ahead of Street consensus of $1.19. The company notes a benefit from the shift in the Lenten season - which started during FQ3 this year - as well as less severe winter weather. Shares +0.8% premarket. (PR) [Consumer, Breaking News] Comment!
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