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Fly News Breaks for January 6, 2017
M, KSS, JCP
Jan 6, 2017 | 10:25 EDT
Baird analyst Mark Altschwager said the fact that J.C. Penney reported weaker-than-expected November-December comps that declined 0.8% is disappointing, but not a surprise given the misses at Kohl's (KSS) and Macy's (M) that preceded it. Saying that stalled sales momentum in recent months makes him more conservative, Altschwager lowered his price target on Penney shares to $11 from $13, but maintains an Outperform rating on the stock given its "multiple paths" to EBITDA recovery and the fact that the company backed its FY16 EBITDA target of $1B.
News For JCP;KSS;M From the Last 2 Days
KSS
Apr 17, 2024 | 10:16 EDT
Bearish flow noted in Kohl's with 4,607 puts trading, or 3x expected. Most active are 5/31 weekly 21 puts and Apr-24 23 calls, with total volume in those strikes near 4,300 contracts. The Put/Call Ratio is 7.58, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 23rd.
