For Immediate Release
Chicago, IL—November 18, 2016—Zacks.com looks back on the hottest stories of the week featured in the Stocks in the News blog, where analysts and writers discuss the latest news and events impacting stocks, the financial markets, and the greater investing world.
Here are highlights from this week’s Stocks in the News blog:
Here’s Why Bank Stocks (JPM, BAC, PNC, GS) are Still Gaining Today
On Monday, shares of many major bank and financial stocks were gaining, still on the rise almost a week after Donald Trump was elected the 45th president of the United States. The banking industry stands to be a winner under a Trump administration, as regulation rollbacks for Wall Street and overall uncertainty surrounding his presidency stand to boost big banks and other financial companies.
Here's Why Shipping Stocks are Today’s Biggest Movers (DRYS, GSL, DCIX)
A quick glance at Thursday’s biggest gainers and losers reveals that the shipping industry is a complete mess right now. Several notable stocks in this sector, including DryShips (DRYS), Global Ship Lease (GSL), and Diana Containerships (DCIX) are either soaring or plummeting, as many investors feel a recently-formed bubble is bursting.
So what the heck is going on with shipping companies this week? A recent note from Wells Fargo analyst Michael Webber suggests that this industry is being affected by a bubble created by algorithm-based trading.
Target Soars 8% on Strong Q3 Earnings, E-Commerce Growth
On Wednesday, shares of everyone’s favorite store, Target Corp. (TGT), soared up around 8% in morning trading after the company posted impressive third quarter financial results. Adjusted earnings per share came in $1.04, surpassing the Zacks Consensus Estimate of 83 cents per share and increasing 22.1% year-over-year. Target reported revenues of $16.441 billion, beating our consensus estimate of $16.3 billion but declining 6.7% year-over-year.
For the holiday quarter, Target projects both GAAP and adjusted EPS to be in the range of $1.55-$1.75 per share, while comparable sales should fall in the range of down 1% to up 1%, up from previous guidance of negative 2% to flat.
Gap (GPS) Meets Q3 Earnings, Comparable Sales Decline 3%
Gap Inc. (GPS) released its third quarter fiscal 2016 financial results after the bell on Thursday, posting adjusted diluted earnings of 60 cents per share and revenues of $3.8 billion. Gap’s total comparable sales fell 3% in the quarter. For Gap Global, comps were down 8%. For Banana Republic Global, comps were also down 8%. For Old Navy, comps increased by 3%.
Looking ahead to full year 2016, Gap expects its diluted EPS to be in the range of $1.41 to $1.50. The company reaffirmed its adjusted diluted earnings per share to be in the range of $1.87 to $1.92, excluding the negative impact of restructuring costs.
USGS Just Discovered the Biggest Shale Oil Field in America
On Tuesday, the U.S. Geological Survey (USGS) announced that it has discovered the biggest deposit of untapped oil in the United States, located in the Wolfcamp shale formation in the Midland Basin portion of Texas’ Permian Basin. Wolfcamp has an estimated average of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids there for the taking.
Learn More About Zacks’ Investment Ideas
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus, you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>
Interested in personal finance? Zacks’ “Money Sense” e-mail newsletter is designed to bring you strategies and valuable information that can help you take control of your personal finances, as well as how to get the most out of your money. It covers a range of topics, from retirement planning to money management solutions. Subscribe to the free newsletter today.
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Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
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Media Contact
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support@zacks.com
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Stocks in the News Blog Highlights: Banks, Shipping Stocks, Target, Gap, Wolfcamp Oil
For Immediate Release
Chicago, IL—November 18, 2016—Zacks.com looks back on the hottest stories of the week featured in the Stocks in the News blog, where analysts and writers discuss the latest news and events impacting stocks, the financial markets, and the greater investing world.
Here are highlights from this week’s Stocks in the News blog:
Here’s Why Bank Stocks (JPM, BAC, PNC, GS) are Still Gaining Today
On Monday, shares of many major bank and financial stocks were gaining, still on the rise almost a week after Donald Trump was elected the 45th president of the United States. The banking industry stands to be a winner under a Trump administration, as regulation rollbacks for Wall Street and overall uncertainty surrounding his presidency stand to boost big banks and other financial companies.
Here's Why Shipping Stocks are Today’s Biggest Movers (DRYS, GSL, DCIX)
A quick glance at Thursday’s biggest gainers and losers reveals that the shipping industry is a complete mess right now. Several notable stocks in this sector, including DryShips (DRYS), Global Ship Lease (GSL), and Diana Containerships (DCIX) are either soaring or plummeting, as many investors feel a recently-formed bubble is bursting.
So what the heck is going on with shipping companies this week? A recent note from Wells Fargo analyst Michael Webber suggests that this industry is being affected by a bubble created by algorithm-based trading.
Target Soars 8% on Strong Q3 Earnings, E-Commerce Growth
On Wednesday, shares of everyone’s favorite store, Target Corp. (TGT), soared up around 8% in morning trading after the company posted impressive third quarter financial results. Adjusted earnings per share came in $1.04, surpassing the Zacks Consensus Estimate of 83 cents per share and increasing 22.1% year-over-year. Target reported revenues of $16.441 billion, beating our consensus estimate of $16.3 billion but declining 6.7% year-over-year.
For the holiday quarter, Target projects both GAAP and adjusted EPS to be in the range of $1.55-$1.75 per share, while comparable sales should fall in the range of down 1% to up 1%, up from previous guidance of negative 2% to flat.
Gap (GPS) Meets Q3 Earnings, Comparable Sales Decline 3%
Gap Inc. (GPS) released its third quarter fiscal 2016 financial results after the bell on Thursday, posting adjusted diluted earnings of 60 cents per share and revenues of $3.8 billion. Gap’s total comparable sales fell 3% in the quarter. For Gap Global, comps were down 8%. For Banana Republic Global, comps were also down 8%. For Old Navy, comps increased by 3%.
Looking ahead to full year 2016, Gap expects its diluted EPS to be in the range of $1.41 to $1.50. The company reaffirmed its adjusted diluted earnings per share to be in the range of $1.87 to $1.92, excluding the negative impact of restructuring costs.
USGS Just Discovered the Biggest Shale Oil Field in America
On Tuesday, the U.S. Geological Survey (USGS) announced that it has discovered the biggest deposit of untapped oil in the United States, located in the Wolfcamp shale formation in the Midland Basin portion of Texas’ Permian Basin. Wolfcamp has an estimated average of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids there for the taking.
Learn More About Zacks’ Investment Ideas
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus, you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>
Interested in personal finance? Zacks’ “Money Sense” e-mail newsletter is designed to bring you strategies and valuable information that can help you take control of your personal finances, as well as how to get the most out of your money. It covers a range of topics, from retirement planning to money management solutions. Subscribe to the free newsletter today.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Follow us on Twitter: https://twitter.com/zacksresearch
Join us on Facebook: https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.