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  1. phil

    Hey Yodi, glad you are on the mend.  So do Germans even care about fuel economy?  I guess the diesels get good MPG but I am surprised electric is so frowned upon – even BMW?  TSLA not doing so hot here either – haven't been able to take back $200. 

    Speaking of autos:

    AutoZone +2.9% after strong quarter

    • AutoZone (NYSE:AZO): FQ2 EPS of $6.51 beats by $0.13.
    • Revenue of $2.14B (+7.5% Y/Y) beats by $20M.
    • Press Release
    • AutoZone (NYSE:AZO) reports domestic same-store sales rose 3.6% in FQ2.
    • The company's gross profit rate increased 10 bps to 52.1% on higher merchandise margins.
    • Operating EBIT +7.1% to $361.269<
    • Operating expenses rate +20 bps to 35.4%.
    • Inventory +11% Y/Y.
    • Domestic store count +171 Y/Y to 5,042.
    • Total store count +387 to 5,458.
    • Previously: AutoZone beats by $0.13, beats on revenue
    • AZO +3.92% premarket

    Chrysler Fiat Automobiles works through snow and inventory in Feb.

    • Chrysler Fiat Automobiles (NYSE:FCAU) unit sales +5.6% to 163,586 units vs. a forecast range of 8% to 8.4%.
    • Car sales rose 2% during the month to 45,851 and truck sales increased 7% to 117,735.
    • Chrysler Fiat Automobiles (NYSE:FCAU) had its strongest February in the U.S. since 2007 despite a harsher period of weather than typical.
    • The automaker also extended its streak of consecutive positive sales growth months to 59.
    • Brand sales growth: Fiat -5% to 3,289; Chrysler +13% to 28,502; Jeep 21% to 55,642; Dodge -15% to 42,115; Ram +12% to 33,991; Alfa Romeo 47 (new).
    • Model sales growth: Jeep Patriot +59% to 10,280; Jeep Wrangler +21% to 12,911; Jeep Cherokee +19% to 14,026; Chrysler 200 +31% to 15,805; Dodge Dart +52% to 7,407; Ram P/U +7% to 31,298; Chrysler Town & Country -4% to 8,341; Fiat 500L +19% to 956; Alfa Romeo 4C (new) 47.
    • The automaker says it ended the month with 85 days supply of inventory vs. 101 days last month.

    Details on Ford's U.S. sales report

    • Ford (NYSE:F) unit sales -1.9% to 180,383 vs. the +5% to +6% expected range from analysts.
    • Passenger car sales fell 8.1% to 56,081 during the month.
    • Utilities sales -2.3% to 54,420.
    • Truck sales +4.0% to 69,882 led by the new aluminum-bodied F-150.
    • Shares of Ford are down 3.8% premarket to $15.95 after the sales report.
    • Ford (F -1.9%) stayed away from blaming the weather for its February sales miss like its peers to focus on the strength it saw for new model introductions (Explorer and Mustang).
    • Sales growth by brand: Ford -1.7% to 174,129; Lincoln -7.5% to 6,164.
    • Sales growth by model: Ford Focus -12.0% to 14,019; Ford Fusion -4.9% to 22,732; Ford C-MAX -25.7% to 1,376; Ford Mustang +31.9% to 8,454; Ford F-Series -1.2% to 55,236; Ford Explorer +31.8% to 17,027; Lincoln Navigator +96% to 862, Lincoln MKC (new) 1,558.
    • Ford says the new F-150  is one of its fastest-turning vehicles on dealer lots with a sell rate 4X the industry full-size pickup average.
    • Previously: Ford -3.8% after Feb. U.S. sales miss

    General Motors February U.S. sales

    • General Motors (NYSE:GM) unit sales +4.2% to 231,378 vs. +5.7 to +5.9% forecast by analysts.
    • Retail sales increased 1% during the month, while commercial and fleet sales rose 12%.
    • GM -0.1% in early trading with the automaker closer to hitting sales estimates than peers.

    GM board battle: Buffett takes aim at Wilson

    • Warren Buffett took aim at activist investor Harry Wilson yesterday, who is pushing for a seat on GM's (NYSE:GM) board with the goal of getting the automaker to return a greater percentage of cash to investors.
    • "I totally disagree with the idea of putting somebody on the board who has an option on some other people's stock which is only good for two years," Buffett told CNBC's "Squawk Box".
    • Buffett also added praise for CEO Mary Barra, saying she was doing a good job leading the automaker.
    • Previously: GM concerned about credit ratings (Feb. 13 2015)
    • Previously: GM +3.6% as Harry Wilson seeks board seat (Feb. 10 2015)

    Hyundai February U.S. sales

    • Hyundai (OTC:HYMLF) unit sales +7.15% to 52,505.
    • The company cites a strong month for the Genesis, Sonata, and Santa Fe models.
    • A full sales tally by model will be released later in the day.

    U.S. Steel, AK Steel cut to Neutral from Buy at Nomura

    • U.S. Steel (NYSE:X) -2% and AK Steel (NYSE:AKS) -3.7% premarket after Nomura downgrades each stock to Neutral from Buy, with respective price targets of $21 (lowered from $37) and $4 (cut from $10).
    • The firm sees two major structural changes underway that should significantly alter the global steel landscape in the coming years: dollar strength and cost curve deflation driven by lower raw material prices and freight rates.
    • Flat-rolled and long product import pressure have been significant headwinds for the industry over the past year, and Nomura expects further dollar appreciation into 2016 will keep import pressure high.

    Chinese New Year no cure for Macau gaming slide

    • The Macau Gaming Inspection and Coordination Bureau reports gaming revenue in the gambling mecca fell off 48.6% Y/Y to 19.54B patacas ($2.44B).
    • The month includes the crucial Chinese New Year holiday.
    • Analysts expected a tail-off of 45% to 55% as the sharp crackdown on VIP junkets continues.
    • YTD Macau gaming revenue -35.1% to 43.29B patacas.
    • Macau-related stocks: MPELMGMWYNNLVSOTCPK:GXYEFOTCPK:SJMHF.

    Dick's Sporting Goods +2.9% as results impress

    • Dick's Sporting Goods (NYSE:DKS) reports comparable-store sales rose 3.4% in Q4.
    • The comp at Dick's-branded stores was up 3.8%, while golf demand continued to decline with Golf Galaxy showing a -7.1% comp.

      • E-commerce penetration +220 bps to 14.4% of total sales.
      • Gross profit rate -67 bps to 30.62%.
      • SG&A expense rate -27 bps to 22.04%.
      • Inventory +12.9% Y/Y.
      • Store count +57 to 697 at the end of the fiscal year, including 9 new specialty stores added during the year.
      • Full-year guidance: Comps are seen rising 1% to 3% in 2015. EPS of $3.10-$3.20 expected vs. $3.20 consensus.
      • DKS +2.85% premarket.

    Best Buy +4.2% on positive comps and special dividend

    • Best Buy (NYSE:BBY): Q4 EPS of $1.48 beats by $0.13.
    • Revenue of $14.21B (+1.3% Y/Y) misses by $140M.
    • Press Release
    • Best Buy (NYSE:BBY) reports revenue in its domestic segment increased 3.2% to $12.697B during Q4.
    • Comps were up over 2% with demand for TVs a positive factor.
    • International segment sales -12.4% to $1.512B.
    • Sales of tablets and revenue from services were lower during the quarter.
    • Domestic online revenue +9.7% to $1.72B – a deceleration from previous quarters.
    • Domestic gross profit rate +120 bps to 21.2%.
    • International gross profit rate flat at 21.7%.
    • Operating income rate +250 bps to 5.7%.
    • Best Buy (NYSE:BBYannounces it will repurchase $1B in stock over the next three years.
    • The company also fires off a special $0.51 per share dividend.
    • BBY +4.22% premarket.

    AmEx downgraded at Macqurie

    • Citing a number of catalysts – the rescheduling of the company investor day, that settling the antitrust lawsuit will be difficult, and the chance of a negative CCAR result – Macquarie downgrades American Express (NYSE:AXP) to Underperform. The price target is cut to $76 from $81.
    • Shares -0.15% premarket

    Amazon to start shipping to Cuba?

    • Less than three months after the U.S. and Cuba agreed to restore diplomatic relations, Amazon (NASDAQ:AMZN) appears to be laying the groundwork to ship to the country.
    • A "ship to Cuba" button was seen on Amazon's website yesterday by Reuters correspondents in Havana.
    • While the option did not work, logistics experts say the appearance of the selection suggested the company was working on it.

    Nasdaq 5000: Bubble or not?

    Company Cash Bathes Stocks as Monthly Buybacks Set Record



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