Uploaded by FinancialNewsOnline on Nov 30, 2011
This is what's in the news for Wednesday November 30. The Wall Street Journal reports Samsung Electronics won a key victory in its tablet battle with Apple (NASDAQ:AAPL) as a panel of judges lifted a temporary ban on sales of its devices in Australia. The Wall Street Journal also reports Goldman Sachs Group (NYSE:GS) is turning to the less risky and potentially less lucrative business of providing start-up money to hedge-fund managers. The firm raised $600M from clients for a new fund and plans investments in eight to 10 new hedge funds. Reuters reports Europe faces a crucial 10 days to save the euro zone after agreeing to increase the firepower of its bailout fund as it acknowledged it may have to turn to the IMF for more help to avert financial disaster. Finally, Bloomberg reports shares of Home Depot (NYSE:HD) and Lowe’s Cos. (NYSE:LOW) are outperforming other consumer discretionary stocks as the worst of the declines in the housing market may be over.
Uploaded by FinancialNewsOnline on Nov 30, 2011
Jos. A. Bank (NASDAQ:JOSB) reported Q3 earnings before the markets opened today, posting an EPS of $0.54 beating analyst expectations of $0.51 per share. Revenue rose 21% year over year to $209.6 million higher than consensus estimates of $196.03 million.
R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. stated, "We are pleased to report another solid sales and earnings performance for the third quarter of fiscal year 2011 with sales growth of 21.0% and earnings growth of 19.3%. With this quarter's results, we have achieved earnings growth in 40 of the past 41 quarters when compared to the respective prior year periods, including 22 quarters in a row. The fourth quarter, compared to a very strong performance last year, has started out more slowly than we had planned. November comparable store sales declined, while our direct segment sales increased, compared to the same period last year. As a result, we have adjusted our December merchandising and marketing plans for stores. We believe our efforts will be effective and appealing to our customers. Therefore we remain cautiously optimistic for the outcome of this year's fourth quarter."
JOS A Bank Clothiers (NASDAQ:JOSB) has potential upside of 21.2% based on a current price of $51.17 and an average consensus analyst price target of $62.
R. Neal Black, President and CEO of JoS. A. Bank Clothiers, Inc. stated, "We are pleased to report another solid sales and earnings performance for the third quarter of fiscal year 2011 with sales growth of 21.0% and earnings growth of 19.3%. With this quarter's results, we have achieved earnings growth in 40 of the past 41 quarters when compared to the respective prior year periods, including 22 quarters in a row. The fourth quarter, compared to a very strong performance last year, has started out more slowly than we had planned. November comparable store sales declined, while our direct segment sales increased, compared to the same period last year. As a result, we have adjusted our December merchandising and marketing plans for stores. We believe our efforts will be effective and appealing to our customers. Therefore we remain cautiously optimistic for the outcome of this year's fourth quarter."
JOS A Bank Clothiers (NASDAQ:JOSB) has potential upside of 21.2% based on a current price of $51.17 and an average consensus analyst price target of $62.
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Uploaded by FinancialNewsOnline on Nov 30, 2011
Raytheon (NYSE:RTN) announced on Wednesday it got the okay from U.S. Congress and the State Department to upgrade Saudi Arabia's missile defense system.
The upgrade will cost $1.7 billion and consist of ground-system hardware, a full training package, support equipment upgrades, and a capability upgrade to support potential coalition operations.
The Patriot missile system is used to shoot down missiles groom aircraft as well as ballistic missiles.
Raytheon (NYSE:RTN) has potential upside of 14% based on a current price of $43.69 and an average consensus analyst price target of $49.79.
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Berkshire Hathaway to Acquire Omaha World-Herald Company
The upgrade will cost $1.7 billion and consist of ground-system hardware, a full training package, support equipment upgrades, and a capability upgrade to support potential coalition operations.
The Patriot missile system is used to shoot down missiles groom aircraft as well as ballistic missiles.
Raytheon (NYSE:RTN) has potential upside of 14% based on a current price of $43.69 and an average consensus analyst price target of $49.79.
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Berkshire Hathaway to Acquire Omaha World-Herald Company
Uploaded by FinancialNewsOnline on Nov 30, 2011
Berkshire Hathaway (NYSE:BRK.A) announced that it will acquire the Omaha World-Herald Company. The transaction is expected to close in late December, pending approval of the Omaha World-Herald's shareholders, comprised of active employees, retired employees and the Peter Kiewit Foundation and is also subject to customary other closing conditions, including regulatory approvals.
Berkshire Hathaway (NYSE:BRK.A) has potential upside of 12.5% based on a current price of $115800 and an average consensus analyst price target of $130250.
Berkshire Hathaway (NYSE:BRK.A) has potential upside of 12.5% based on a current price of $115800 and an average consensus analyst price target of $130250.
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Starwood Hotels Announces Partnership with Jiepang Uploaded by FinancialNewsOnline on Nov 30, 2011
Starwood Hotels & Resorts Worldwide (NYSE:HOT) announced its partnership with Jiepang, one of China's leading location-based social mobile apps, to launch a new digital extension to their Starwood Preferred Guest loyalty program specifically designed for Chinese travelers.
Starwood Hotels & Resorts (NYSE:HOT) has potential upside of 25.9% based on a current price of $47.24 and an average consensus analyst price target of $59.48.
Starwood Hotels & Resorts is currently below its 200-day moving average (MA) of $52.32 and should find support at its 50-day MA of $45.96.
Starwood Hotels & Resorts (NYSE:HOT) has potential upside of 25.9% based on a current price of $47.24 and an average consensus analyst price target of $59.48.
Starwood Hotels & Resorts is currently below its 200-day moving average (MA) of $52.32 and should find support at its 50-day MA of $45.96.
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Kindle Fire Update Autoruns, De-Roots Jailbroken Devices Uploaded by FinancialNewsOnline on Nov 30, 2011
Amazon's (NASDAQ:AMZN) newest software update for its Kindle Fire apparently activates automatically upon detection of a Wi-Fi connection, then de-roots jailbroken devices and removes access to the Android Marketplace for some users, but the changes are reversible, according to Gizmodo.
Amazon.com (NASDAQ:AMZN) has potential upside of 26.8% based on a current price of $189.45 and an average consensus analyst price target of $240.29.
Amazon.com is currently below its 50-day moving average (MA) of $218.42 and below its 200-day MA of $200.24.
Amazon.com (NASDAQ:AMZN) has potential upside of 26.8% based on a current price of $189.45 and an average consensus analyst price target of $240.29.
Amazon.com is currently below its 50-day moving average (MA) of $218.42 and below its 200-day MA of $200.24.
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Microsoft Sells Nearly 1 Million Xbox 360s in Black Friday Week Uploaded by FinancialNewsOnline on Nov 30, 2011
Microsoft (NASDAQ:MSFT) announced that the week including Black Friday set a record for sales of its Xbox, with more than 960,000 consoles sold, as more than 800,000 of the video game systems were sold on Black Friday alone, reported Boy Genius.
Microsoft (NASDAQ:MSFT) has potential upside of 27.9% based on a current price of $25.25 and an average consensus analyst price target of $32.29.
Microsoft is currently below its 50-day moving average (MA) of $26.15 and below its 200-day MA of $25.78.
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The Fresh Market misses by $0.01, Revenues In-Line
Microsoft (NASDAQ:MSFT) has potential upside of 27.9% based on a current price of $25.25 and an average consensus analyst price target of $32.29.
Microsoft is currently below its 50-day moving average (MA) of $26.15 and below its 200-day MA of $25.78.
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The Fresh Market misses by $0.01, Revenues In-Line
Uploaded by FinancialNewsOnline on Nov 30, 2011
The Fresh Market (NYSE:TFM) reported fiscal third quarter earnings of $0.19, a one-cent miss, on revenues of $263.3 million in line with estimates of $265.
Craig Carlock, President and Chief Executive Officer said, "We are excited to report another solid quarter of sales and earnings growth. Our comparable store sales grew 5.5% in the quarter, making it both our best quarter of this fiscal year and our eighth consecutive quarter of comparable store sales growth of 4.0% or greater. We were also able to maintain our operating margin of 5.5% this quarter despite pressure from rising food and commodity costs and despite the additional costs incurred related to being a publicly-traded company."
Craig Carlock, President and Chief Executive Officer said, "We are excited to report another solid quarter of sales and earnings growth. Our comparable store sales grew 5.5% in the quarter, making it both our best quarter of this fiscal year and our eighth consecutive quarter of comparable store sales growth of 4.0% or greater. We were also able to maintain our operating margin of 5.5% this quarter despite pressure from rising food and commodity costs and despite the additional costs incurred related to being a publicly-traded company."
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