Continue reading Some big names setting new highs today: STAR, GG, PIR, EBAY

Some big names setting new highs today: STAR, GG, PIR, EBAY originally appeared on BloggingStocks on Tue, 13 Oct 2009 17:45:00 EST. Please see our terms for use of feeds.

Continue reading Pier 1 Imports announces layoffs and store closings

Pier 1 Imports announces layoffs and store closings originally appeared on BloggingStocks on Thu, 05 Feb 2009 09:03:00 EST. Please see our terms for use of feeds.

Pier 1 slides on downgrade -- more trouble to come? originally appeared on BloggingStocks on Tue, 05 Feb 2008 11:47:00 EST. Please see our terms for use of feeds.

Nine months into his first year as chief executive officer, retailing veteran Alex W. Smith has cut costs and slowed the pace of sales declines at the Fort Worth, Texas, company. Adding impulse items such as Halloween merchandise to storefronts, scrapping television ads in favor of spunky and targeted mailings, and implementing other changes have produced what Mr. Smith has called "seedlings of success." ... Couple those positives with recent insider buying and a coming show-and-tell by management, and some fans see a compelling case for the stock to double or triple within a couple of years.

I'll believe it when I see it. Much though I love Pier 1, the store just isn't as unique as it once was. Big box competitors like Target (NYSE: TGT) are offering very, very similar stuff -- for a lot less money. The Pier 1 brand probably still has some value. But buyout rumors have been circling for years as the stock has declined and so far nothing has come of it. And let's face it: You can only close so many stores, and watch your sales plummet as margins decline for so long before your brand starts to lose some of its equity.

Back in June, I wondered whether some kind of partnership with Wal-Mart (NYSE: WMT) could be beneficial. Wal-Mart needs some way to compete with Target for more upscale buyers, and perhaps a less-expensive line of Pier 1 products could help Pier 1 boost its sales -- the downside of course would be further erosion of the brand's equity, but many big-name brands offer off-priced products through the big boxes.

Can Pier 1 Imports make a comeback? originally appeared on BloggingStocks on Wed, 31 Oct 2007 15:09:00 EST. Please see our terms for use of feeds.

According to The Associated Press, the home decor industry is the "latest casualty of the ongoing housing and mortgage lending bust".

The purchase of new home furnishings is an easy expenditure for consumers to put off -- if people are anxious about their mortgage, or disheartened that their home isn't appreciating in value like it was a few years ago, that old couch starts to look a lot better.

All of this makes Pier 1 Imports (NYSE: PIR) look like a tough bet. The stock rallied last week on an analyst upgrade, but continues to face sales and margin pressures, in part because of lower-price competitors like Wal-Mart (NYSE: WMT). The company is in the midst of an attempted turnaround but the combination of competitive pressures and an industry-wide slowdown that recently claimed Bombay could be too much for the company to handle.

In the most recent quarter, Pier 1 saw its sales decline 7%, and it's going to be hard to turn that around if the industry as a whole continues to sputter.

In June, I suggested that it might be time for Wal-Mart and Pier 1 to team up. if Pier 1 continues to struggle with sales and profitability, and Wal-Mart continues to struggle to reach the more upscale demographic Target (NYSE: TGT) has nailed, it's something that both parties might want to consider.

Housing woes hurt home decor stores; Pier 1 (PIR) and Wal-Mart (WMT) should team up originally appeared on BloggingStocks on Mon, 08 Oct 2007 13:15:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Goldman Sachs upgraded General Motors (NYSE: GM) to Buy from Neutral as they believe the stock will rise on expectations of sizeable concessions from union talks. The broker said this is a "tactical trading call."

• Morgan Joseph upgraded shares of Sirius Satellite Radio (NASDAQ: SIRI) to Buy from Hold citing the OEM ramp & modest consensus estimates.

• American Technology added LSI Corp (NYSE: LSI) to their Focus List as they believe investors are discounting a lot of negative assumptions at the current valuation. They recommend using the recent weakness to aggressively build positions below $9.

• Bank of America upgraded shares of Chevron Corp (NYSE: CVX) citing valuation and potential volume increases in its deepwater portfolio.

• AG Edwards upgraded National City (NYSE: NCC) to Hold from Sell and Roth upgraded LivePerson to Hold from Sell on valuation...

• UBS upgraded Pier 1 Imports (NYSE: PIR) to Buy from Neutral.

• Bristol-Myers (NYSE: BMY) was upgraded to Outperform from Peer Perform at Bear Stearns.

• Sandler added American Express (NYSE: AXP) to its Focus List. Baird raised Applied Biosystems (NYSE: ABI) to Outperform from Neutral.

Analyst upgrades 6-25-07: BMY, CVX, GM, PIR and SIRI originally appeared on BloggingStocks on Mon, 25 Jun 2007 11:10:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• Robinson Humphries upgraded Cheesecake Factory (NASDAQ: CAKE) to Neutral from Reduce citing limited downside risk.

• Jabil Circuit (NYSE: JBL) was raised to Outperform from Neutral at Credit Suisse and to Outperform from Sector Perform at RBC Capital based on its better-than-expected Q3 report.

• CIBC upgraded MGM Mirage (NYSE: MGM) to Sector Outperform from Sector Perform and gives the odds of a takeout at 50/50 but said business remains healthy and that the value of Las Vegas Strip assets should continue to rise for the next several years. Susquehanna said Kerkorian's decision not to pursue the Bellagio and CityCenter assets is a strong vote of confidence in MGM's management to create shareholder value and upgraded shares to Positive from Neutral.

• Darden Restaurants (NYSE: DRI) was upgraded to Buy from Hold at Matrix based on management's positive steps to improve economic profit by selling off its under-performing units.

• ThinkEquity upgraded Crocs (NASDAQ: CROX) to Buy from Accumulate on expectations that sales will continue to be strong driven by new product introductions, as well as retail doors and square footage growth...

• Goldman upgraded Kraft Foods (NYSE: KFT) to Neutral from Sell.

• Baird upgraded Pentair (NYSE: PNR) to Neutral from Underperform.

• Citigroup upgraded AES Corp (NYSE: AES) to Buy from Hold.

• Credit Suisse upgraded Sohu.com (NASDAQ: SOHU) to Outperform from Neutral.

• Raymond James upgraded Pier 1 Imports (NYSE: PIR) to Outperform from Market Perform.

Analyst upgrades 6-22-07: CAKE, CROX, DRI, KFT and MGM originally appeared on BloggingStocks on Fri, 22 Jun 2007 11:01:00 EST. Please see our terms for use of feeds.

Pier 1's earnings swim with the fishes originally appeared on BloggingStocks on Thu, 21 Jun 2007 14:03:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• First Albany upgraded shares of Joseph A. Bank Clothiers (NASDAQ: JOSB) to Neutral from Sell, following the Q1 upside and indications that Q2 is off to a strong start.

• Kaufman Brothers raised Take-Two Interactive Software (NASDAQ: TTWO) to Hold from Sell with an $18 target following the release of Q2 results, saying they see evidence the company is stabilizing. JP Morgan also upgraded TTWO shares to Overweight from Neutral, as the company considers shares attractive ahead of the Grand Theft Auto IV launch in October.

• Goldman added McDonald's Corp (NYSE: MCD) to their Americas Conviction Buy List citing expectations for upward earnings revisions.

• ThinkEquity upgraded shares of RF Micro Devices (NASDAQ: RFMD) to Buy from Source of Funds based on valuation.

• Goldman Sachs raised Berry Petroleum Co (NYSE: BRY) and Pier 1 Imports, Inc (NYSE: PIR) to Buy from Neutral.

• JDS Uniphase Corp (NASDAQ: JDSU) was raised to Outperform from Market Perform at Bernstein.

• Matrix USA upgraded shares of Tetra Technologies, Inc (NYSE: TTI) to Buy from Hold.

Analyst upgrades 6-12-07: JDSU, MCD, PIR and TTWO originally appeared on BloggingStocks on Tue, 12 Jun 2007 10:52:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• FTN Midwest initiated shares of Ethan Allen Interiors Inc (NYSE: ETH), Pier 1 Imports (NYSE: PIR) and Bed Bath & Beyond Inc (NASDAQ: BBBY) with Neutral ratings and Williams-Sonoma Inc (NYSE: WSM) with a Buy rating.

• BMO Capital started Bronco Drilling Co (NASDAQ: BRNC), Pioneer Drilling Co (AMEX: PDC) and Union Drilling, IncNASDAQ: UDRL) with Outperform ratings.

• CIBC started Chemtura Corp (NYSE: CEM) with a Sector Underperformer rating and $11 target on valuation.

• C.E. Unterberg started Altus Pharmaceuticals Inc (NASDAQ: ALTU) with a Buy rating and $12 target, believing the company's efforts to develop the first juvenile formulation of a pancreatic enzyme will be a key growth driver.

Analyst initiations 4-27-07: BBBY, ETH, PIR and WSM originally appeared on BloggingStocks on Fri, 27 Apr 2007 11:26:00 EST. Please see our terms for use of feeds.

Futures are positive in early morning trade, indicating a similar for stocks.

This morning, investors will be looking mostly at retail sales figures, which is especially important in light of the holiday shopping season, as well as some economic data.

At 8:30 this morning, weekly initial claims is due, but also October personal income and consumer spending, both expected to grow at a similar rate as last month, 0.5% and 0.1% respectively. This report could be interesting especially in light of latest comments that shifted worries somewhat from inflation to growth. Consumer spending and income can give an indication of future growth, while personal consumption expenditures is another measure of inflation. At 10, the Chicago PMI index, an index that gauges factory health in the upper Midwest is due.

According to early reports, Wal-Mart Stores, Inc. (NYSE:WMT), being the largest retailer in the U.S. dampened November sales as it already announced over the weekend that it expects November same store sales have slipped by 0.1%. With Wal-Mart, same-store sales in November probably rose 2.7%, below the 3.7% growth last year. Excluding Wal-Mart same-store sales probably rose 4.8% in November, compared to 3.3% last year.

Reporting sales this morning:

• Costco Wholesale (NASDAQ:COST) November same-store sales were up by 5%, while total sales rose 9% to $4.84 billion. Analysts consensus estimate of November same-store sales was 5.7%.
• Target Corp. (NYSE:TGT) is expected to post 5.7% growth in same-store sales, American Eagle (NASDAQ:AEOS) already reported a 14% same store gain, below the consensus estimate of 14.7%.
• Hot Topic Inc. (NASDAQ:HOTT) shares are up more than 10% in pre-market trading after it reported yesterday a smaller same store sales decline of 4.3% compared with 6.8% that analysts had expected.
• Pier 1 Imports, Inc. (NYSE:PIR) reported a November same store sales drop of 15.3%, a bigger decline than analysts expectation of a 13.6% same-store sales drop.

Meanwhile, in Europe, the European Commission is more optimistic about economic growth of the dozen euro nations and said they will start 2007 stronger than the commission had anticipated a month ago, strengthening the case for higher interest rates.

Before the bell 11-30-06: Retail sales and consumer spending data sending stock futures higher originally appeared on BloggingStocks on Thu, 30 Nov 2006 07:43:00 EST. Please see our terms for use of feeds.

Futures are positive in early morning trade, pointing to a higher start for stock.

Today investors will analyze the data from the retail sector, they will look at some economic indicators for an idea about employment, inflation and productivity. Strong retail sales could help the market rally, as are the falling oil prices of this morning.

This morning, some retailers have already reported same-stores sales and the market is now looking for a 3.4% rise in October for the industry, or a 4.9% increases ex-Wal-Mart Stores, Inc. (NASDAQ:WMT). Wal-Mart said last week it is expecting a 0.5% gain in same-store sales (sales at stores that have been open at least a year). It had just reported as expected.

Already reporting sales data this morning are Costco Wholesale Corp. (NASDAQ:COST) with a 4% rise, Pier 1 Imports, Inc. (NYSE:PIR) with an over 13% decline in sales, and American Eagle Outfitters, Inc. (NASDAQ:AEOS) that reported an 8% jump in same-store sales last night. AEOS also raised third-quarter earnings guidance. The stock might still be under pressure as some were expecting a 10% rise in sales. Walgreen Co. (NYSE:WAG) Oct same-store sales rose 11.4% and J.C. Penney Co.'s (NYSE:JCP) sales rose 8.1%.

This morning, some economic data is also due out. First, weekly jobless claims will be released at 8:30, but investors are waiting the main job report tomorrow. Also at 8:30, third-quarter productivity and unit labor costs will be reported. Unit labor cost could give investors a better idea about inflation, so barring any surprises, this is the number to watch out for. Finally, at 10:00, September factory orders are due. The European Central Bank makes its decision on interest rate today.

Top news stories this morning:

According to the Wall Street Journal, Tribune Co. (NYSE:TRB) said that due to low bids, it is now prepared to sell parts of the business and will consider offers.

Unilever NV/PLC (NYSE:UN, UL) reported a third-quarter profit drop of 48% after one-time gains from asset sales. Sales rose 1.6%. The figures were at the top end of market forecasts. Unilever shares were up over 4% in Europe.

Reporting today:

• Caremark Rx Inc. (CMX) - 63 cents per share for Q3.
• CVS Corp. (CVS) - 32 cents per share for Q3.
• International Paper Co. (IP) - 43 cents per share for Q3.
• Whole Foods Market Inc. (WFMI) - 29 cents per share for Q4.

Other stories:

Electronic Data Systems Corp. (EDS) reported third-quarter after the bell yesterday with profit climbing sharply to 24 cents per share on a 9% increase in revenue of $5.29. However the company said contracts for future work declined. Analysts were expecting 20 cents per share.

Apple Computer, Inc.'s (NASDAQ:AAPL) new iPod Shuffle will arrives in stores this Friday, tomorrow.

Goldman Sachs upgraded Dell, Inc. (NASDAQ:DELL) to neutral from sell.

General Electric Co. (NYSE:GE) has signed a $300 million deal with a Chinese company to make jet engine parts for it.and French engine maker Snecma.

In the auto industry:

• New car registrations in Germany are expected to have risen in October with foreign automakers boosting their share of Europe's biggest car market to 36.1%.
• Advanced Auto Parts Inc. (NYSE:AAP) reported Q3 (ending Oct 7) net income dropped to $58.9 million, or 56 cents a share but it includes 3 cents a share in stock option expense. Revenue rose to $1.1 billion from $1 billion. Analysts expected earnings of 54 cents a share. The company also lowered Q4 guidance.

Following Baidu.com, Inc.'s (NASDAQ:BIDU) earning, yesterday I revisited rumors of Google, Inc. (NASDAQ:GOOG) or Yahoo!, Inc. (NASDAQ:YHOO) buying Baidu.

Google is releasing a new version of its mobile email today.

Hewlett-Packard (NYSE:HPQ) will have a fourth quarter earnings call on Thursday, Nov. 16, 5:30 p.m. ET/2:30 p.m. PT here.

Wendy's (NYSE:WEN) is offering DVD movie kiosks at its restaurants.

In Pharma: Global pharmaceutical sales grew 5% in the 12 months to August in leading markets, the same rate as recorded a month earlier. Pfizer Inc's (NYSE:PFE) Lipitor cholesterol pill remained the top-selling drug with sales of $11.6 billion.

Russian oil output fell again in October partly because the country and Exxon Mobil (NYSE:XOM) holding back the start up of full-scale production due to differences.

XM Satellite Radio (NASDAQ:XMSR) and Cingular Wireless (held by AT&T (NYSE:T)) announced a partnership to stream 25 XM music channels to Cingular handsets.

Before the bell 11-2-06: Retail sales could help stocks originally appeared on BloggingStocks on Thu, 02 Nov 2006 08:28:00 EST. Please see our terms for use of feeds.