|Over a week ago|
Largest borrow rate increases among liquid names » 08:4507/2307/23/20
BLDP, ACB, LMND, KIRK, HTZ, AXDX, ET, ZYNE, QTT, WLL
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Ballard Power (BLDP) 15.49% +4.43, Aurora Cannabis (ACB) 23.38% +2.24, Lemonade (LMND) 11.72% +1.95, Kirkland's (KIRK) 26.68% +1.66, Hertz (HTZ) 74.66% +1.04, Accelerate Diagnostics (AXDX) 74.68% +0.57, Energy Transfer (ET) 1.05% +0.40, Zynerba (ZYNE) 19.98% +0.25, Qutoutiao (QTT) 6.56% +0.21, and Whiting Petroleum (WLL) 120.55% +0.19.
Largest borrow rate increases among liquid names » 08:4507/1607/16/20
XSPA, GOGO, KIRK, SPCE, KNDI, BLDP, BFYT, NAT, CCL
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: XpresSpa (XSPA) 39.88% +0.69, Gogo (GOGO) 29.58% +0.40, Kirkland's (KIRK) 23.65% +0.34, Virgin Galactic (SPCE) 11.54% +0.32, Kandi Technologies (KNDI) 24.53% +0.25, Ballard Power (BLDP) 14.29% +0.20, Benefytt Technologies (BFYT) 3.75% +0.20, Chesapeake Energy (CHKAQ) 257.54% +0.19, Nordic American Tankers (NAT) 12.07% +0.13, and Carnival (CCL) 8.58% +0.12.
|Over a month ago|
Fly Intel: After-Hours Movers » 19:0705/1805/18/20
BIDU, ABUS, KIRK, DVAX, DOC, ATCO, SDC, HP, BYND, IQ, TRVG, BLPH, GMDA, RP, GOSS, CLVS, NVAX, CVNA, MRNA, FSLY
Check out this evening's…
Kirkland's provides update on store opening, e-commerce sales » 16:0405/1805/18/20
Kirkland's provided an update on store openings, e-commerce sales and its liquidity in light of most states in the company's store base beginning to lift their stay-at-home orders. Of the company's 405 stores, 301 are now open to customer traffic and another 95 stores offer contactless curbside pickup. The company is unable to predict when all of its stores can reopen to customer traffic, but it will continue to follow the guidance of the CDC, as well as local and state government officials. In the period since the stores closed on March 19, the company's e-commerce demand has increased 96% to $23.7M. As of May 18, 2020, the company had approximately $29M of cash on hand and another $23M available on its revolving credit facility. The company expects to report results for Q1 in early June. The COVID-19 pandemic is complex and evolving rapidly, and the company's plans may change.
|Over a quarter ago|
Kirkland's furloughs full-time store employees and announces other measures » 16:1904/2004/20/20
Kirkland's provided an update on additional measures it is taking in response to the impact from the novel coronavirus. Focused offers and promotions on its ecommerce business through its website. After paying all store team members during the first two weeks of closure, furloughed all part-time store employees and temporarily reduced the pay of full-time managers and key employees. Permanently reduced 33% of distribution center indirect labor and furloughed 30% of direct labor, while further reducing hours to match demand. Permanently reduced headcount at our corporate headquarters by approximately 18%; in addition to the 14% reduction in January and temporarily reduced compensation for the executive team. The Company's Board of Directors elected to forego their cash compensation for the Q1. Cancelled orders and delayed merchandise receipts to manage inventory levels, and extended payment terms with product and non-product vendors to improve working capital. Significantly reduced transportation expenses with limited deliveries to stores and the delay/reduction of inbound freight receipts. Began negotiations with landlords to defer or waive rent while our stores are closed and accelerated ongoing negotiations with landlords on potential closures of unprofitable stores in addition to the 27 permanent store closures completed in the Q1. Significantly reduced the planned 2020 marketing spend to levels consistent with 2019 and reduced all non-operating and non-essential expenses. Further reduced capital expenditures planned for 2020 below the low end of the previously released range of $10M. Pursued all relevant measures under the CARES Act including net operating loss carry back, wage credits and payroll tax deferrals to improve liquidity. As previously disclosed, the Company drew down $40M of its $75M revolving credit facility. As of April 17, the Company had approximately $34M of cash on hand. The Company will provide an update on its liquidity when it reports results for the first quarter of FY20 in early June.
Kirkland's to temporarily close 424 stores due to coronavirus » 17:3303/1903/19/20
Kirkland's announced that in response to the increased impact from the novel coronavirus it is closing its 424 stores across the country at 6 p.m. local time on March 19. The company plans to follow the guidance of the Centers for Disease Control and Prevention, as well as local and state government officials, and will reopen its stores when there are satisfactory assurances to do so. CEO Woodward noted, "As we assess the impact of necessary safety precautions, we are also aggressively managing our costs and infrastructure and supporting the continued growth in our e-commerce sales, which will remain open for home delivery. Separately, at the beginning of this week, we drew down $40 million of our $75 million revolving credit facility, which, when combined with approximately $12 million in cash, provides us approximately $52 million in cash."
Kirkland's CEO says 'business overall remains on track with our expectations' » 16:0801/1601/16/20
CEO Woodward said,…
CEO Woodward said, "While the environment remains challenging for home decor retailing, our business overall remains on track with our expectations. Seasonal and e-commerce sales are driving a sequential improvement in the comp trend, and we have managed a better transition to January than in recent periods."
Kirkland's COO Michael Cairnes steps down, company plans to close 27 stores » 16:0601/1601/16/20
Kirkland's has mutually parted ways with President and COO Michael Cairnes. CEO Woody Woodward will add the role of President and will oversee operations in addition to his ongoing responsibilities across merchandising and marketing. The company has promoted John Stacy, currently VP of Supply Chain, to Senior VP of Supply Chain, and Jeff Martin, currently VP of Transformation, to Senior VP of Omni-Channel Retail. The company has further reduced expenses at its corporate office and is planning to close 27 stores in early 2020, with the potential for further reductions in the store base later in the year.
S&P Dow Jones Indices rebalances S&P MidCap 400, S&P SmallCap 600 » 17:3809/0609/06/19
SIGI, RGEN, FCFS, SIG, RRC, TUP, MIK, QEP, VAL, MDR, ETSY, PPC, KAR, AM, OC, PEN, HCC, CADE, GCP, CARS, MNK, KIRK, NLS, LKSD, ASNA, SUP, SPN, KOPN
The S&P Dow Jones…
The S&P Dow Jones Indices will make the following index adjustments to the S&P MidCap 400 and S&P SmallCap 600 to ensure each index more appropriately represents its market capitalization range. The changes will be effective prior to the open of trading on Monday, September 23 to coincide with the September rebalance. S&P SmallCap 600 constituents Selective Insurance Group (SIGI), Repligen (RGEN), and FirstCash (FCFS) will move to the S&P MidCap 400. S&P MidCap 400 constituents Signet Jewelers (SIG), Range Resources Corp. (RRC), Tupperware Brands (TUP), The Michaels Companies (MIK), QEP Resources (QEP), Valaris (VAL) and McDermott International (MDR) will move to the S&P SmallCap 600. Etsy (ETSY), Pilgrim's Pride (PPC), KAR Auction Services (KAR), Antero Midstream Corp. (AM), Owens Corning (OC), and Penumbra (PEN) will join the S&P MidCap 400. Warrior Met Coal (HCC), Cadence Bancorporation (CADE) and GCP Applied Technologies (GCP) will join the S&P SmallCap 600. Cars.com (CARS) and Mallinckrodt (MNK) will be removed from the S&P MidCap 400 as they are no longer representative of the mid-cap market space. Kirkland's (KIRK), Nautilus Group (NLS), LSC Communications (LKSD), Ascena Retail Group (ASNA), Superior Industries (SUP), Superior Energy Services (SPN) and Kopin Corp. (KOPN) will be removed from the S&P SmallCap 600 as they are no longer representative of the small-cap market space.
Fly Intel: Pre-market Movers » 09:0409/0509/05/19
WORK, CIEN, PANW, CMCSA, VMW, SIG, KIRK, HOME, MNK, GMS
HIGHER: Comcast (CMCSA),…
HIGHER: Comcast (CMCSA), up 2% after Oppenheimer analyst Timothy Horan upgraded the stock to Outperform from Perform with a $54 price target. The company's fundamentals are "healthy" in the near-term, and 2020 is setting up to be a "strong year," Horan tells investors... VMware (VMW), up 2% after Goldman Sachs analyst Heather Bellini upgraded shares to Neutral from Sell with an unchanged price target of $152. The recent pullback in the share price has reset investor expectations around the company's growth trajectory, Bellini tells investors. UP AFTER EARNINGS: Signet Jewelers (SIG), up 16%... Palo Alto Networks (PANW), up 10%. DOWN AFTER EARNINGS: Ciena (CIEN), down 5%... Kirkland's (KIRK), down 25%... At Home Group (HOME), down 18%... Slack Technologies (WORK), down 13%. ALSO LOWER: Mallinkrodt (MNK), down 49% after Bloomberg reported that the company has hired restructuring advisers to help limit its potential legal liabilities from the opioid epidemic. Reportedly, Mallinckrodt is exploring options that could include a bankruptcy filing if its legal costs become unmanageable... GMS Inc. (GMS), down 5% after its 6.825M share spot secondary priced at $27.20.