Consumer
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News and Views
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Macro/Technicals
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Earnings
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Sector News, M&A, Capital Raises
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Research Away
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Top Events/Earnings Calendar
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Cantor Flows
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News and Views
Equities gave back some of Monday’s gains but it was on light volume, so not much to be made of it. Technical support is 1114 on the SPX Cash, so keep an eye on that level for support or failure. OMX was down big on earnings/guidance and COH was down even after seemingly good numbers. PCLN had blowout numbers and was up 15% after hours.
The focus today will be positioning ahead of tomorrow’s SSS releases and Senate hearing on Education stocks.
PCLN up 15% will be good for OWW and we have been buying both names.
Macro/Technicals
SP Futures: 1116.70; -1.60SPX: 1120.46; -.48
RLX: 405.67; -1.91
RTH: 89.72; -1.25
XLY: 31.62; -1.53
XLP: 27.05; -.88
VIX: 22.63; +2.82
Leaders: HLF, PTRY, ABTL, FBN, NWL, DLIA, WNI
Laggards: OMX, TLB, SKX, BPI, CHS, GPI, COCO, JCG, AEO
Earnings
LL Lumber Liquidators reports Q2 EPS $0.32 vs Reuters $0.33 ($24.59)
Company reports revenues of $168.7M vs Reuters $169.9M.
- Comparable store net sales +5.5%
- Reaffirms full year EPS guidance of $1.13-1.23 vs Reuters $1.21;
- Reaffirms full year revenue guidance of $630-650M vs Reuters $643.1M.
- Guides full year comparable store net sales to increase in the mid-single digits.
HI Hillenbrand reports Q3 EPS $0.45 ex-items vs Reuters $0.41 ($22.13)
Company reports revenues of $205.8M vs Reuters $205.6M. Reaffirms f10 EPS guidance of $1.65-$1.82 ex-items vs Reuters $1.74; reaffirms revenue guidance of $740-$770M vs Reuters $737.7M.
DSW DSW Inc. reports Q2 revenues of $415.1M vs Reuters $415.7M; raises annual EPS guidance ($25.69)
- Q2 same-store sales +12.0%
Guides full year EPS to $1.80-$1.95, above prior $1.65-$1.75 vs Reuters $1.87. DSW now sees comps. for the year increasing +7% to +9% vs. prior guidance for an increase of +6% to +8%.
Sector News, M&A, Capital Raises
LF Barron's Weekday Trader is positive on Leapfrog ($4.92)
Barron's notes that while the stock trades at just $5 a share, some analysts have price targets pegged as high as $8, amid thoughts that production gaffes, bad inventory management and outsized earnings volatility are a thing of the past.
BKS Barnes & Noble to evaluate strategic alternatives to increase shareholder value ($12.84)
Strategic alternatives include a possible sale of the company. Company notes that its Board believes the stock is significantly undervalued. The Special Committee has retained Lazard as its financial advisor.
Research Away
BKS ($12.84) Barnes & Noble upgraded to neutral from sell at Goldman Sachs Target is $15.
CMG ($151.24) Chipotle Mexican Grill initiated buy at Janney Capital Target is $166.
BBBY ($38.33) Bed Bath & Beyond initiated buy at Jefferies Target is $48.
KMX ($21.28) CarMax initiated hold at ThinkEquity
Top Events/Earnings Calendar
Earnings
PRE: HI, HSNI, KCP, LL, RL, RRD
POST: CECO, CCRN, CENT, CSV, CXW, EXLS, GAIA, HVT, MTEX, NDN, PRSC, STAN, TTEC
Cantor Flows
Consumer Staples: DLM, GMCR, K
Consumer Discretionary: BC, CWTR, NEXC, OMX, ZZ
Consumer Services: COCO, RHI,