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SHLD

Sears

$0.00

(0.00%)

06:13
12/19/18
12/19
06:13
12/19/18
06:13

Sears to take $443M in charges from store closures

In a regulatory filing, Sears said it expects to incur charges of approximately $443 million, including $81 million in markdowns, $9 million in severance costs, $335 million in lease termination costs, $12 million in other charges, and $6 million in depreciation, in the third and fourth fiscal quarters of 2018 as a result of the store closures announced on October 15, 2018. The estimated amount for lease termination costs includes leases that may be rejected pursuant to the company's proceedings under chapter 11 of title 11 of the United States Code and is based on contractual future rent payments and does not include any adjustment to reduce the amount to the expected allowed claims as the damages from the possible rejection of such leases cannot currently be estimated.

SHLD Sears
$0.00

(0.00%)

10/12/18
MSCO
10/12/18
NO CHANGE
Target $1.5
MSCO
Equal Weight
Morgan Stanley sees near-term pressure, long-term gain for Penney if Sears folds
Amid recent headlines regarding Sears (SHLD) adding a restructuring expert and reportedly pursuing a bankruptcy filing, Morgan Stanley analyst Kimberly Greenberger noted that she believes J.C. Penney (JCP) had the highest store overlap with Sears, K-Mart, and Sears Specialty Stores within both a quarter mile and half mile radius. If Sears closes additional stores or engages in liquidation sales, retailers in the close trade areas could experience some short-term pressure, said Greenberger, who added that Sears has already been closing stores for years. In the medium to long-term, she expects J.C. Penney and other retailers in the respective trade areas to potentially benefit from these closures. Greenberger, who views Penney's near-term debt maturities as "manageable," keeps an Equal Weight rating and $1.50 price target on the shares.
10/12/18
MKMP
10/12/18
NO CHANGE
Target $31
MKMP
Neutral
L Brands visibility remains low despite better Sept comps, says MKM Partners
MKM Partners analyst Roxanne Meyer kept her Neutral rating and $31 price target on L Brands (LB), saying that while the company reported better than expected same store sales in September and its Victoria's Secret brand comps turned positive, its visibility remains low. The analyst lists potential catalysts for L Brands being a "strong performance of pajamas in Q4 and the reintroduction of swimwear" at VS, but also points to her "newest concern" being the likelihood of a Sears (SHLD) liquidation, which would then reduce traffic at malls where the company also has retail presence.
10/16/18
LOOP
10/16/18
NO CHANGE
Target $88
LOOP
Buy
Best Buy to be major beneficiary of likely Sears liquidation, says Loop Capital
Loop Capital analyst Anthony Chukumba kept his Buy rating and $88 price target on Best Buy (BBY) after Sears Holdings (SHLD) declared bankruptcy over the weekend, saying it should be a "major beneficiary" from the latter's eventual "likely" liquidation. The analyst estimates the liquidation could add as much as 47c or 8.5% accretion to Best Buy FY19 EPS, with the company picking up a "fair share" on the consumer electronics side of the business as the "last man standing" in terms of dedicated national brick-and-mortar retailers.
10/17/18
FBCO
10/17/18
NO CHANGE
Target $125
FBCO
Outperform
Whirlpool price target lowered to $125 from $175 at Credit Suisse
Credit Suisse analyst Susan Maklari lowered her price target for Whirlpool (WHR) to $125 from $175 to reflect continued pressures from inflation and reduced overhead leverage. While international challenges continue to drag on results, pricing in North America could help provide a necessary offset, she contends. The analyst notes that Sears' (SHLD) Chapter 11 filing should result in few changes in long-term appliance trends, though there could be some near-term choppiness as 142 additional stores are closed and liquidated. Maklari reiterates an Outperform rating on Whirlpool shares.

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3.4 (3.66%)

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$52.06

0.95 (1.86%)

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SoftBank

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IGMS

IGM Biosciences

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-0.125 (-0.71%)

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LMAT

LeMaitre

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-0.03 (-0.10%)

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WE

We Company

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SoftBank

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WE

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SoftBank

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KOD

Kodiak Sciences

$18.24

1.34 (7.93%)

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ADVM

Adverum Biotechnologies

$5.29

0.11 (2.12%)

18:29
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ADVM

Adverum Biotechnologies

$5.29

0.11 (2.12%)

18:23
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COP

ConocoPhillips

$56.41

0.55 (0.98%)

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T

AT&T

$37.58

0.17 (0.45%)

, CMCSA

Comcast

$45.53

1.02 (2.29%)

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T

AT&T

$37.58

0.17 (0.45%)

CMCSA

Comcast

$45.53

1.02 (2.29%)

CMCSK

Comcast

$0.00

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SNE

Sony

$58.16

0.83 (1.45%)

LGF.A

Lionsgate

$9.52

0.22 (2.37%)

LGF.B

Lionsgate

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0.19 (2.16%)

DIS

Disney

$130.08

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VIAB

Viacom

$23.02

0.505 (2.24%)

VIA

Viacom

$25.45

0.65 (2.62%)

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PCG

PG&E

$8.08

0.3 (3.86%)

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TTGT

TechTarget

$22.64

0.14 (0.62%)

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$0.00

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NTAP

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HPE

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HLF

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FORR

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CSCO

Cisco

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CVLT

Commvault

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FB

Facebook

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4.02 (2.23%)

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KBH

KB Home

$33.92

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BX

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$47.10

0.62 (1.33%)

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GOOG

Alphabet

$1,213.86

5.88 (0.49%)

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6.18 (0.51%)

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GOOG

Alphabet

$1,213.86

5.88 (0.49%)

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$1,214.62

6.18 (0.51%)

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SPX

S&P 500

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, SPY

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$296.34

3.1 (1.06%)

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S&P 500

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SPY

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3.1 (1.06%)

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AGN

Allergan

$169.06

1.255 (0.75%)

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LYFT

Lyft

$39.49

1.8 (4.78%)

, UBER

Uber

$30.09

1.19 (4.12%)

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LYFT

Lyft

$39.49

1.8 (4.78%)

UBER

Uber

$30.09

1.19 (4.12%)

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GM

General Motors

$35.57

0.9 (2.60%)

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MRK

Merck

$84.31

0.6 (0.72%)

, JNJ

Johnson & Johnson

$131.35

2.32 (1.80%)

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Congo to start using Johnson & Johnson Ebola vaccine next month, Reuters says »

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MRK

Merck

$84.31

0.6 (0.72%)

JNJ

Johnson & Johnson

$131.35

2.32 (1.80%)

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HMTV

Hemisphere Media

$11.70

0.05 (0.43%)

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PFE

Pfizer

$36.11

0.31 (0.87%)

15:37
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CNCE

Concert Pharmaceuticals

$5.85

(0.00%)

15:29
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INCY

Incyte

$76.14

0.38 (0.50%)

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