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Investors Scratch Heads as Under Armour Falls 8% After Beating Q1 Earnings

Courtesy of Benzinga.

Related UA
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Shares of Under Armour (NYSE: UA) are down a massive 8.5 percent to $49.81 after beating analyst first quarter estimates and raises full year 2014 guidance.

The company reported earnings per share of $0.06 versus analyst estimates of $0.04. Revenue came in at $642 million, beating estimates of $598.77 million. Revenues increased 36 percent year-over-year from $472 in the previous year’s period.

Product revenue breakdown:

  • Apparel — increased 33 percent to $459 million.
  • Footwear — increased 41 percent to $114 million.
  • Accessories — increased 43 percent to $52 million.
  • Direct-to-Consumer — increased 33 percent to.
  • International revenues — increased 79 percent.

Gross margins gained from 45.9 percent to 46.9 percent year-over-year.

Full year 2014 sales guidance was raised from a range between $2.84-$2.87 billion to a range of $2.88-$2.91 billion.

On Benzinga’s #Premarket Prep, Brian Sozzi called the quarter “very, very strong,” and believes the company will continue to win.

Chairman and CEO Kevin Plank commented, “We are off to a great start in 2014 driven by broad-based strength across our Apparel, Footwear, and International growth drivers. Our formula for driving newness and innovation in Apparel continues to resonate with consumers and helped deliver over 30% growth for our largest product category. That same model is contributing to success in Footwear, where we accelerated growth in running and brought award-winning product to the marketplace with the SpeedForm Apollo.

“Finally, we enhanced our ability to reach the global athlete, including the recent expansion of our brand in key Latin American markets, as well as strong gains across Europe and Asia.”

Posted-In: Brian Sozzi Kevin PlankAnalyst Color Earnings News Guidance





Mid-Day Market Update: US Stocks Turn Higher; Apple Shares Jump On Upbeat Results

Courtesy of Benzinga.

Related BZSUM
Mid-Afternoon Market Update: Apple Hangs onto Gains as Fusion-io Drops on Earnings
Mid-Morning Market Update: Markets Drop; GM Earnings Beat Estimates

Midway through trading Thursday, the Dow traded up 0.18 percent to 16,531.00 while the NASDAQ surged 0.76 percent to 4,158.30. The S&P also rose, gaining 0.36 percent to 1,882.17.

Leading and Lagging Sectors
Technology shares gained around 0.83 percent in trading on Thursday. Top gainers in the sector included MicroStrategy (NASDAQ: MSTR), Lam Research (NASDAQ: LRCX), and VASCO Data Security International (NASDAQ: VDSI). In trading on Thursday, telecommunications services shares were relative laggards, down on the day by about 0.11 percent.

Top decliners in the sector included Portugal Telecom SGPS SA (NYSE: PT), off 3 percent, and Kongzhong (NASDAQ: KONG), down 2.7 percent.

Top Headline
General Motors Co (NYSE: GM) reported better-than-expected first-quarter earnings. GM’s quarterly profit slipped to $100 million, or $0.06 per share, versus a year-ago profit of $900 million, or $0.58 per share. Its revenue climbed to $37.4 billion versus $36.9 billion. However, analysts were estimating earnings of $0.03 per share on revenue of $37.44 billion.

Equities Trading UP
Zimmer Holdings (NYSE: ZMH) shares shot up 12.41 percent to $102.80 after the company announced its plans to acquire Biomet in a cash and stock transaction valued at around $13.35 billion.

Shares of Apple (NASDAQ: AAPL) got a boost, shooting up 7.89 percent to $566.15 after the company reported stronger-than-expected fiscal second-quarter results and announced a 7-for-1 stock split. The company also lifted its buyback plan to $90 billion from $60 billion. Apple’s quarterly profit surged to $10.2 billion, or $11.62 per share, versus a year-ago profit of $9.5 billion, or $10.09 per share. Its revenue also climbed to $45.6 billion versus $43.6 billion.

Lam Research (NASDAQ: LRCX)…
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Hershey Melts: Shares Fall On Missed Expectations

Courtesy of Benzinga.

Related HSY
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Earnings Scheduled For April 24, 2014

The Hershey Company (NYSE: HSY) on Thursday announced first quarter results before the market opened.

President and CEO John P. Bilbrey commented, “The profile of Hershey’s results for the first quarter was slightly below our expectations. Given U.S. Brookside distribution gains in the year ago period, the timing of our more meaningful innovation later this year, and softness in Latin America, first quarter organic net sales growth was pressured.

“Additionally, U.S. retail trends varied and were impacted by lower consumer trips in the instant consumable channels and irregular purchasing patterns within the traditional food and mass channels. However, towards the end of the first quarter, consumer trends began to normalize and, while preliminary, April Nielsen data indicates a good sell through for the Easter season and a sequential improvement in non-seasonal candy.”

Summary of First Quarter Results

  • The company reported first quarter adjusted EPS of $1.15 versus the estimated $1.14. Earnings per share were up six percent from the same quarter last year.
  • Revenue rose 2.4 percent year-over-year to $1.87 billion versus the estimated $1.91 billion.
  • Net sales reached $1,871,813,000 compared with $1,827,426,000 from the first quarter of 2013.
  • Net income was $1.11 per share diluted versus $1.06 per share diluted in 1Q13.
  • U.S. candy, mint and gum (CMG) takeaway for the quarter, excluding the impact of Easter seasonal activity from last year, increased 1.4 percent. Including the Easter activity impact, the U.S. CMG market share fell 0.1 points.
  • Hershey saw an unexpected decline in chocolate market share in the first quarter. The press release reported that this decline was due to the “timing of new product launches and related advertising and consumer marketing.”
  • The company noted that U.S. retail trends and softness in Latin America impacted net sales for the quarter. The press release stated that business in Mexico saw macroeconomic challenges and new tax legislation on certain foods in Brazil was “off due to volume elasticity related to a price increase.”

Company’s Outlook

  • Management sees in-line guidance for FY14. Hershey estimates


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Coffee Won’t Keep Dunkin’ Shareholders Warm: Shares Dip Following Disappointing Results

Courtesy of Benzinga.

Related DNKN
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On Thursday, Dunkin’ Brands Group, Inc. (NASDAQ: DNKN) reported first quarter 2014 results. Chairman and Chief Executive Officer Nigel Travis commented, “We had a difficult first quarter with our comparable store sales growth in the U.S. significantly impacted by severe weather in the regions of the country where most of our Dunkin’ Donuts restaurants are located. However, we remain confident that we will hit our targets for the full year.”

Travis went on to say, “Our franchisees achieved strong restaurant growth in the quarter adding 69 net new Dunkin’ Donuts locations in the U.S. We’re also excited to announce that we expect the first traditional Dunkin’ Donuts restaurant to open in California by the end of 2014, ahead of our original expectations. Additionally, we launched the DD Perks Rewards Program nationally at the end of January, and, more recently, online cake ordering for Baskin-Robbins, both major milestones in using technology to drive sales in our restaurants in the U.S. and eventually globally.” Summary of First Quarter Results

  • Diluted adjusted EPS increased 13.8 percent to $0.33 versus the $0.36 estimate.
  • The company reported U.S. comparable store sales growth of 1.2 percent.
  • Revenue for the quarter increased 6.2 percent.
  • Operating income for the first quarter increased 8.9 percent, or $5.6 million, from the prior year due to increased in royalty income and the sales margin on ice cream products. Adjusted operating income grew 7 percent, or $4.9 million.
  • Net income fell $0.8 million, or 3.5 percent, as a result from a $13.7 million loss on debt extinguishment and refinancing. Adjusted net income increased $4.5 million, or 14.4 percent compared with the first quarter of 2013.
  • Dunkin’ Brands franchisees and licensees opened 96 new restaurants worldwide. The breakdown includes 69 new Dunkin’ Donuts U.S. locations, 52 new Baskin-Robbins International locations, 1 new Baskin-Robbins U.S. location, and 26 net


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Mid-Afternoon Market Update: Apple Hangs onto Gains as Fusion-io Drops on Earnings

Courtesy of Benzinga.

Related BZSUM
Mid-Day Market Update: US Stocks Turn Higher; Apple Shares Jump On Upbeat Results
Mid-Morning Market Update: Markets Drop; GM Earnings Beat Estimates

Toward the end of trading Thursday, the Dow traded up 0.05 percent to 16,510.00 while the NASDAQ surged 0.59 percent to 4,151.30. The S&P also rose, gaining 0.24 percent to 1,879.17.

Leading and Lagging Sectors
Technology shares gained around 0.83 percent in trading on Thursday. Top gainers in the sector included MicroStrategy (NASDAQ: MSTR), Lam Research (NASDAQ: LRCX), and VASCO Data Security International (NASDAQ: VDSI). In trading on Thursday, telecommunications services shares were relative laggards, down on the day by about 0.11 percent.

Top decliners in the sector included Portugal Telecom SGPS SA (NYSE: PT), off 3 percent, and Kongzhong (NASDAQ: KONG), down 2.7 percent.

Top Headline
General Motors Co (NYSE: GM) reported better-than-expected first-quarter earnings. GM’s quarterly profit slipped to $100 million, or $0.06 per share, versus a year-ago profit of $900 million, or $0.58 per share. Its revenue climbed to $37.4 billion versus $36.9 billion. However, analysts were estimating earnings of $0.03 per share on revenue of $37.44 billion.

Equities Trading UP
Zimmer Holdings (NYSE: ZMH) shares shot up 11.67 percent to $102.17 after the company announced its plans to acquire Biomet in a cash and stock transaction valued at around $13.35 billion.

Shares of Apple (NASDAQ: AAPL) got a boost, shooting up 8.38 percent to $568.54 after the company reported stronger-than-expected fiscal second-quarter results and announced a 7-for-1 stock split. The company also lifted its buyback plan to $90 billion from $60 billion. Apple’s quarterly profit surged to $10.2 billion, or $11.62 per share, versus a year-ago profit of $9.5 billion, or $10.09 per share. Its revenue also climbed to $45.6 billion versus $43.6 billion.

DR Horton (NYSE: …
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Great Lakes Dredge & Dock Sells Demolition Business for $5.3M

Courtesy of Benzinga.

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vGreat Lakes Dredge & Dock Corporation (NASDAQ: GLDD), the largest provider of dredging services in the United States and a major provider of environmental and remediation services, today announced that on April 23, 2014, it completed the sale of NASDI, LLC and Yankee Environmental Services, LLC, its two subsidiaries that comprise the historical demolition business, to a privately owned demolition company located in the Midwest for $5.3 million. Great Lakes retains the right to collect all outstanding accounts receivable and work in process at the date of close, as well as any outstanding claims, and retains certain obligations, including obligations related to performance bonds issued for existing projects. The Company also retained a significant remediation project that will be performed by our Terra subsidiary.

Jonathan Berger, Chief Executive Officer stated, “We are pleased to announce the sale of the historical demolition business as we continue to refocus our strategy and expand upon our success in environmental & remediation services that complement our core dredging business. The new ownership structure is a good fit for the historical demolition business and we wish all those related to that business, best wishes on future endeavors.”

Please see the Company’s Form 8-K filed with the Securities and Exchange Commission for more information on amendments to certain Great Lakes financing agreements that were entered into in connection with the sale.

Posted-In: News Asset Sales Press Releases





MGT Capital Provides Update on Patent Infringement Action

Courtesy of Benzinga.

MGT Capital Investments, Inc. (NYSE MKT: MGT) was informed on April 23, 2014 that the United States Court of Appeals for the Federal Circuit ruled on a Petition for Writ of Mandamus, sought by WMS Gaming, Inc., a defendant in one of MGT’s patent infringement lawsuits. Mandamus was granted, thereby vacating the decision of the United States District Court for the Southern District of Mississippi that denied a motion by WMS to transfer the case to the United States District Court for the Northern District of Illinois. As a consequence, this case will be moved to Illinois.

Yesterday’s decision does not impact MGT’s ongoing action in Mississippi against Aruze Gaming, Inc. As previously disclosed, a Markman Hearing (also known as a claims construction hearing) has been scheduled in that case for September 25, 2014 in Jackson, MS. Moreover, yesterday’s decision has no bearing with respect to the merits of the Company’s allegations in any of its patent infringement lawsuits.

Posted-In: News Legal Press Releases





Actavis Announces Celebrex Patent Challenge Settlement

Courtesy of Benzinga.

Actavis plc (NYSE: ACT) today announced that it has entered into an agreement with Pfizer, Inc. to settle all outstanding patent litigation related to Actavis’ generic version of Celebrex® (celecoxib) 50 mg, 100 mg, 200 mg and 400 mg capsules. Celebrex® is indicated for the relief of the signs and symptoms of osteoarthritis, rheumatoid arthritis, and ankylosing spondylitis, and for the management of acute pain in adults.

Under the terms of the agreement, Pfizer will grant Actavis a license to market its generic Celebrex® beginning in December 2014, or earlier under certain circumstances. Other details of the settlement were not disclosed.

Launch of Actavis’ product is contingent upon Actavis receiving final approval from the U.S. Food and Drug Administration (FDA) on its Abbreviated New Drug Application (ANDA) for generic Celebrex®. Based on available information, Actavis believes it may be a “first applicant” to file an ANDA for the generic version of Celebrex® and, should its ANDA be approved, may be entitled to 180 days of generic market exclusivity or shared exclusivity, subject to the FDA’s determination that the product qualifies for an award of exclusivity under the provisions of the Hatch-Waxman Act.

For the 12 months ending December 31, 2013, Celebrex® had total U.S. sales of approximately $2.2 billion, according to IMS Health data.

Posted-In: News Legal Press Releases





Enzo Biochem Announces $5.1M Settlement Agreement with Affymetrix

Courtesy of Benzinga.

Related ENZ
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Enzo Biochem, Inc. (NYSE: ENZ) (the “Company”), along with its subsidiary Enzo Life Sciences, Inc. entered into a Settlement with Affymetrix, Inc. (NASDAQ: AFFX) with respect to actions between the Company and Affymetrix before the U.S. District Court, Southern District of New York, Cases No 03-CV-8907 and 04-CV-1555.

As a result of the Agreement in settlement of the aforementioned cases, Affymetrix will pay $5,100,000. Enzo’s release of Affymetrix, Inc. does not include the litigation currently pending against Affymetrix, Inc. in the District of Delaware and any of the claims there asserted.

Posted-In: News Legal Press Releases





UPDATE: Caterpillar Posts Better-Than-Expected Q1 Results, Lifts FY14 Earnings Outlook

Courtesy of Benzinga.

Related CAT
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Caterpillar (NYSE: CAT) reported better-than-expected first-quarter results and lifted its full-year earnings guidance.

Caterpillar’s quarterly profit surged to $922 million, or $1.44 per share, versus a year-ago profit of $880 million, or $1.34 per share. Its adjusted earnings came in at $1.61 per share.

Its revenue climbed to $13.24 billion versus $13.21 billion. However, analysts were expecting earnings of $1.21 per share on revenue of $13.17 billion.

Caterpillar raised its full-year profit forecast by $0.25 per share to $6.10 per share.

Caterpillar shares gained 3.99% to $107.51 in pre-market trading.

Posted-In: profitEarnings News Guidance





 
 
 

Zero Hedge

Amazon's Q1 Results Explained In Six Simple Charts

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

Moments ago Amazon reported its latest numbers which, as one would expect, emphasize the future and the profit potential one, two or more decades in the future, instead of highlighting the present and certainly the recent past. Because, neither the present nor the recent past are pretty.

In a nutshell: in Q1 Amazon posted a tiny beat on revenues, with Q1 sales printing at $19.7 billion compared to $19.4 billion estimated, however this is as good as it went. The problem as everyone knows for Amazon, are its margins. And in Q1 operating margins tumbled once again, this time to 0.7% (see chart below) which in turn resulted in operating income of only $146 million, well below the $200 million expected. And...



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Phil's Favorites

That Was Quick! How The Fed Ravaged The Main Street Housing Market, Again

That Was Quick! How The Fed Ravaged The Main Street Housing Market, Again

Courtesy of  

Now that the $5k suits are riding out of town on their John Deere lawnmowers, the “flash” boom in housing prices during the past 20 months is showing its true nature. It was the handiwork of the Fed’s free money gift to Wall Street. In less than two years more than 400,000 busted mortgages were scooped up by LBO funds on the theory that single family suburban housing had become a new “asset class”—-and that the “buy-to-rent” investment models put together by spreadsheet jockeys was the next Big Thing.

There was...



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Market Shadows

Releasing CAT

Releasing CAT: Sold Caterpillar on today’s earnings report bounce

By Paul Price of Market Shadows

I am satisfied with the move in Caterpillar because we bought our position during its out-of-favor periods. Here are the dates when we purchased and how much we paid for CAT when it went into our Virtual Value Portfolio .  

   Stock                                                  Ticker              Date             # Shares       Price

...

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Chart School

Real Median Household Income Declines 0.73% in March

Courtesy of Doug Short.

Summary: The Sentier Research monthly median household income data series is now available for March. The nominal median household income was up $285 month-over-month and up only $1,494 year-over-year. Adjusted for inflation, it declined 0.73% MoM but is up 1.3% YoY.

The previous monthly gain was the second largest of the 171 data points in this series since the turn of the century. The latest number erased much of that gain. In real dollar terms, the median annual income is 7.5% lower (about $4,309) than its interim high in January 2008.

The traditional source of household income data is the Census Bureau, which publishes annual household income data in mid-September for the previous year.

Sentier Research, an organization that focuses on income and demographics, offers a more...



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Insider Scoop

Investors Scratch Heads as Under Armour Falls 8% After Beating Q1 Earnings

Courtesy of Benzinga.

Related UA Market Wrap For April 16: Markets Hold On To Gains On Positive Yellen Comments And Economic Data Market Wrap For April 15: Who Doesn't Love A Turnaround?

Shares of Under Armour (NYSE: UA) are down a massive 8.5 percent to $49.81 after beating analyst first quarter estimates and raises full year 2014 guidance.

The company reported earnings per share of $0.06 versus analyst estimates of $0.04. Revenue c...



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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Option Review

Casino Stocks LVS, WYNN On The Run Ahead of Earnings

Shares in Las Vegas Sands Corp. (Ticker: LVS) are up sharply today, gaining as much as 5.7% to touch $80.12 and the highest level since April 4th, mirroring gains in shares of resort casino operator Wynn Resorts Ltd. (Ticker: WYNN). The move in Wynn shares appears, at least in part, to follow a big increase in target price from analysts at CLSA who upped their target on the ‘buy’ rated stock to $350 from $250 a share. CLSA also has a ‘buy’ rating on Las Vegas Sands with a $100 price target according to a note from reporter, Janet Freund, on Bloomberg. Both companies are scheduled to report first-quarter earnings after the closing bell on Thursday.

...

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Sabrient

What the Market Wants: Market Poised to Head Higher: 3 Stocks to Consider

Reminder: Sabrient is available to chat with Members, comments are found below each post.

Courtesy of David Brown, Sabrient Systems and Gradient Analytics

Yesterday, the market continued its winning ways for the fifth consecutive day.  The S&P 500 closed within 1% of its all-time high, and the DJI was even closer to its all-time high.  Healthcare, Energy and Technology led the sectors while Financials, Telecom, and Utilities finished slightly in the red.  All three sectors in the red are typically flight-to-safety stocks, so despite lower than average volume, the market appears poised to make new highs.

Mid-cap Growth led the style/caps last week, up 2.87%, and Small-cap Growth trailed, up 2.22%. This week will bring well over 100 S&P 500 stocks reporting their March quarter earn...



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OpTrader

Swing trading portfolio - Week of April 21st, 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here's this week's Stock World Weekly. Click here and sign in with your PSW user name and password, or sign up for a free trial.

...

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Digital Currencies

Facebook Takes Life Seriously and Moves To Create Its Own Virtual Currency, Increases UltraCoin Valuation Significantly

Courtesy of ZeroHedge. View original post here.

Submitted by Reggie Middleton.

The Financial Times reports:

[Facebook] The social network is only weeks away from obtaining regulatory approval in Ireland for a service that would allow its users to store money on Facebook and use it to pay and exchange money with others, according to several people involved in the process. 

The authorisation from Ireland’s central bank to become an “e-money” institution would allow ...



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Promotions

See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.

Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.

Follow this link to register for their training webinar where they’ll demonstrate the tested and proven Algorithm powered by the same technological principles that have made GOOGLE the #1 search engine on the planet!

And get this…had you done nothing b...



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Pharmboy

Here We Go Again - Pharma & Biotechs 2014

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Ladies and Gentlemen, hobos and tramps,
Cross-eyed mosquitoes, and Bow-legged ants,
I come before you, To stand behind you,
To tell you something, I know nothing about.

And so the circus begins in Union Square, San Francisco for this weeks JP Morgan Healthcare Conference.  Will the momentum from 2013, which carried the S&P Spider Biotech ETF to all time highs, carry on in 2014?  The Biotech ETF beat the S&P by better than 3 points.

As I noted in my previous post, Biotechs Galore - IPOs and More, biotechs were rushing to IPOs so that venture capitalists could unwind their holdings (funds are usually 5-7 years), as well as take advantage of the opportune moment...



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FeedTheBull - Top Stock market and Finance Sites



About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>