-Michigan consumer sentiment 73.6 vs. 72 est., 72.3 prior
-Fed looks at Univ. Michigan inflation outlook. Decent uptick month/month. 5 year outlook 3% vs. 2.7%. 1 year outlook 3.6% vs. 3%
-SHLD Fairholme investment thesis Link
SHLD Kmart comp weakest since Q3-2008 at -4.7% vs. -0.5% GS est., Sears domestic -2.9% vs. -1% est.
-Philadelphia Fed –7.1 vs. –5 est., –12.9 prior
-Jobless claims 366K vs. 365K est. Prior revised to 364K vs. 361K
-Merkel backs Draghi plan Link
-Petition for SRPT drug approval Link
-Nvidia GTX 660 review $299 card Link
WMT call: deflation in electronics, grocery inflation moderated slightly from Q1, categories with higher inflation customers trade-down. entertainment negative low-single digit comp. Media/gaming weak, tablets strong. market share gains in grocery, health & wellness. stationery, crafts, sporting good, auto, and hardware "performed well".
-U.S. Empire Manufacturing August -5.85 vs. 7 est., prior 7.39
-CPI ex food energy 0.1% vs. 0.2% est. +2.2% y/y vs. +2.2 prior
-Facebook testing more ads on the news feeds Link
-AT&T in talks to give up on CDN business and resell AKAM Link
-2 Vermont brothers battle deadly disorder. 1 in SRPT drug trial Link
CSCO call: Q4 product orders +2% y/y. Americas +4% y/y. Europe -6% y/y. Asia +12% y/y. Q1 guidance ex-acquisition sales +2-4% y/y vs. +3.6% est. EPS 45-47c vs. 46c est. Basically in-line
AMAT Q4 guidance 1.57B sales vs. 1.94B est.
CSCO CEO on CNBC: feel good about about Asia, not as concerned as other companies about Asia. Europe will get little tougher before it gets better
TGT call: August tracking to the 3% comp guidance for quarter, same as Q2 comp "electronics soft this quarter"
DE call: industry outlook for China has softened as government subsidies have been delayed
SPLS call: financial market vertical weakest. White collar head-count reductions (job cuts) hurting them. online competitors price gap has narrowed. July sales were worse than June and May. double digit growth in mobile phones.. Google Nexus tablet "very strong". computer trends likely to remain weak till Windows 8 launch in late October. computers and software down double-digits "steep decline in computer sales" and soft Europe main drivers of quarter’s weakness
SPLS PR: "more than offset by weakness in computers and core office supplies during the second quarter" "Q2 results fell short of.. expectations due to softer than expected sales trends in North America..weakness in Europe..Australia"
KORS call: have not seen any change in traffic in full price and outlet channel (ouch Coach). No change in tourist traffic across the globe. stores that are 4 years old actually comped higher than some of new stores. under-developed significantly in fragrances "potential very large upside for us". "not seen impact to our operations" Europe macro conditions "believe we are taking market-share" retail comparable store sales 37.3% vs. 35% est. Upside in quarter mainly wholesale business and new stores.
KORS 34c v 20c est. Sales 414.9 v 367.9 est. Guides 34c vs 28c est. Sales 490-500 v 422.2 est. Full FY 1.33 v 1.12 Sales 1.8-1.9B
DKS 65c vs. 64c EPS est. Sales 1.44B vs. 1.44B est. Comp 3.8% vs 3.66%. Guides next qter 36c vs. 36c. Pretty in-linish overall
DKS call: back-to-school business have been really quite good" "nice lift in fire-arm sales" "we’ve taken up our guidance" "for us that’s kind of bullish" testing high-end technical running stores 4000 square feet
GRPN call: 2 main drivers of quarter 1) softness in Europe 2) growth of Groupon Goods $19m to $65m q/q. 1/3 of North America transactions done on mobile devices.
TJX call: guides August comp +5-6% y/y, September +1-3%, October +1-3% (down from 7% in Q2)
-Barnes and Noble cut Nook pricing Link
-iMore says Apple iPhone 5 to be released in U.S. on September 21http://bit.ly/PjNFQk
Source: July Channel Advisor Link
-ATVI Battle.Net gets hacked Link
-Interview with Jack Schwager Hedge-fund market wizards Link
-RIMM draws interest from IBM for its Enterprise Services unit Link
-July y/y billed business slower than Q2 for American Express Link
-Macy’s considering same-day delivery for online orders Link
-July 2012 NPD video-game sales –23% y/y Link
-Samsung smartphone and tablet sales by model Link
-Latest USDA corn crop report Link
NVDA consumer products business segment (includes Tegra, not PC graphics) was up 35.5% q/q.
JCP PR: "Company no longer anticipates achieving the previously issued non-GAAP earnings guidance for fiscal 2012"
NVDA EPS 27c vs. 14c estimate. 1.04B vs 1.01B sales. Key is big guidance raise for next qter to 1.2B (avg) vs. 1.09B estimate. “Tegra has achieved record sales as tablets come into their own. Our GPU business made strong gains in a weak market, boosted by our breakthrough Kepler architecture”
-Jobless claims 361K vs. 367K est., prior 365K revised to 367K
-ECB Noyer: “Our operations will be of sufficient size to have a strong impact on the markets. We should be ready to intervene very soon, prioritizing short-term debt markets” Link
-MNST probed by a state attorney general from 10Q Link
-Taiwan notebook ODMs see weak demand in August as Windows 8 sentiment turns negative: http://bit.ly/ONvLoy
-Source says Spain won’t seek new bailout if new conditions are required Link
-Square partnership with Starbucks Link
-Matina Stevis: EU Official tells us that the troika will present the Greek program review to the eurogroup on October 8 in Luxembourg.
-Elliot Management investor letter summary Link
MNST call: Nielsen data 13 weeks July 21 y/y – energy drinks +16.5%, Monster +24.9%, RedBull +19.3%, Rockstar +7.2%, 5hr +4.2%, NOS +13.8%
RL call: going to be cautious about Europe whole-sale sell-in, deteriorating credit metrics. southern Europe weak, Italy Greece Spain. northern Europe performed better. Middle east/Russia strong. Seeing "skittishness" by wholesale partners on future orders. chose not to ship orders into Europe due to questions about sell-through and credit
SODA call: Germany and Israel posted double-digit growth this quarter. looking to expand in India. Brazil launched 2 months ago "doing VERY WELL". success with Kraft deal, they are in discussions with other tier 1 brands in beverage. Expect more announcements in the future. Italy not a material market for them. "strong sell-through in Walmart"
SODA 52c vs. 46c est. Revenue $103M vs. $90.6M est. Raises 2012 sales guidance AGAIN +33% y/y to +40% y/y, net income +50% y/y to +55% y/y
-Samsung and Hynix join Toshiba (cut production by 30%) in cutting down flash memory production by 10% Link
-Fed’s Rosengren wants open-ended MBS QE Link
PCLN call: "guarded on near-term outlook" "sov debt concerns" "softer demand in southern Europe.. spread to UK" Q3 guidance assumes (Europe) macro conditions to deteriorate further during the quarter
FOSL call: overall macro environment hasn’t improved. "still rather difficult" "being cautious on the back half of the year". gross margin go down 30-40bps rest of year vs. last year (inventory liquidations hurting margins). revising their guidance slightly down for rest of the year due to U.S. dollar and weaker macro. plan on doing controlled sales in their stores twice a year (they didn’t do this before this quarter). solid growth in Northern Europe, off-set by challenging conditions Italy and Spain. "gross margin and sales leverage surpassed their expectations".
SRPT call: "received a number of inquiries from potential partners" that weren’t interested before the last data set release. call tone is very bullish. More data to come in October. If data is good, they will push for accelerated FDA approval
-ATVI offers free 7 day and Level 80 character for ex-WOW subs Link
-Facebook lockup schedule Link
CTSH call: "I would not expect material upside" to guidance. Don’t have expectations of "meaningful overperformance" [telling the analysts]. coming back in banking, I would wait a quarter or two. "feel little better" vs. b4. "growth remained weak in Europe" "pricing stable" "banking has begun a modest rebound" "cost optimism is primary focus" "significant restructuring activity"