>>> Sears Auto Center and Amazon.com expand Tire Purchase and Installation Progr

Sears Auto Center and Amazon.com expand Tire Purchase and Installation Program After teaming up with Amazon.com in May, Sears Auto Center announced today the expansion of its program that provides full-service tire installation and balancing for customers who purchase any brand of tires—including DieHard—on Amazon.com. Initially launched at 47 Sears Auto Centers in eight metropolitan areas, the Ship-to-Store tire solution, which is integrated into the Amazon.com checkout process, is now available nationwide including Alaska and Hawaii.As the first nationwide auto service center to offer Amazon.com customers the Ship-to-Store tire solution, Sears Auto Center also conducts free multi-point Performance Snapshots to ensure 100% customer satisfaction. Amazon.com customers simply select their tires, the Sears Auto location, and their preferred date and time for the tire installation. Sears Auto Center then contacts them to confirm their appointment.
Sears Auto Center is proud to offer this service to customers through a nationwide network of locations conveniently located across the U.S

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance:

  • MITK -11.8% (Mitek Systems CEO Jim DeBello will be transitioning out of his role; co reaffirms full-year guidance), PAHC -8.4%, BBY -3.7%, BJ -2.5%, CTLT -2%

Other news:

  • AKCA -26.5% (Akcea Therapeutics and Ionis receive Complete Response Letter for WAYLIVRA from FDA)
  • IONS -12.5% (Akcea Therapeutics and Ionis receive Complete Response Letter for WAYLIVRA from FDA)
  • WMGI -4.1% (prices offering of 18,248,932 of its ordinary shares at $24.60 per share)
  • EDIT -2.5% (Chief Medical Officer Gerald Cox, M.D., Ph.D. will be stepping down from the Company at the end of the year)

Analyst comments:

  • LASR -5.6% (initiated with a Sell at The Benchmark Company; tgt $17)
  • SBGL -4% (downgraded to Underperform from Neutral at Macquarie)
  • AMSWA -2.9% downgraded to Neutral at B. Riley FBR)
  • CTRL -2.1% (downgraded to In-line at Imperial Capital)
  • HMY -1.7% (downgraded to Underperform from Neutral at Macquarie)
  • AMAT -1.4% (downgraded to Neutral from Buy at BofA/Merrill)
  • LRCX -1.1% (downgraded to Neutral from Buy at BofA/Merrill)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance:

  • HEI +7.7%, BILI +7.5%, TIF +4.4%, BMO +1.3%

M&A news:

  • BRKS +17.7% (Brooks Automation to sell its semiconductor cryogenics business to Atlas Copco for $675 mln in cash)
  • AHL +3.2% (to be acquired by Apollo Global (APO) for $42.75/share in cash, or approximately $2.6 bln)

Other news:

  • AFMD +162.5% (announces collaboration with Genentech to develop novel NK cell engager-based immunotherapeutics for multiple cancer targets; Affimed will receive $96 million upfront and committed funding and is eligible for up to an additional $5.0 billion including milestone payments, and royalties on sales)
  • LSCC +13.1% (appoints Jim Anderson CEO, effective September 4)
  • AMD +3.6% (names Saeid Moshkelani as SVP of Client Compute Group; Darren Grasbya named SVP of global Computing and Graphics sales, replacing Jim Anderson who leaves to pursue other opportunities)
  • ALNY +2.1% (following AKCA / IONS CRL news)
  • ILMN +1.4% (receives approval of MiSeqDx System in China)

Analyst comments:

  • COTY +5.9% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
  • XLNX +3.1% (upgraded to Outperform from Neutral at Robert W. Baird)
  • EL +2.1% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
  • AM +1.6% (upgraded to Buy from Hold at Stifel)
  • RH +1.1% (upgraded to Accumulate from Hold at Gordon Haskett)
  • FMS +0.6% (upgraded to Buy from Hold at HSBC Securities)

>>> Hain Celestial beats by $0.01, misses on revs; guides FY19 EPS in-line, revs

Hain Celestial beats by $0.01, misses on revs; guides FY19 EPS in-line, revs in-line
--> HAIN flattish pre market
  • Reports Q4 (Jun) earnings of $0.27 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.26; revenues rose 2.8% year/year to $619.6 mln vs the $629.25 mln S&P Capital IQ Consensus.
  • "We continued to execute on our global strategic objectives, with marketing investments in our core brands and incremental savings and productivity through Project Terra, although a number of cost and operational headwinds in the United States impacted our consolidated annual results," said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial. "Our top priorities in fiscal year 2019 are to return our United States business to growth and to generate increased profitability. We remain optimistic that the aggressive strategic changes and investments in our go-to-market strategy will fuel our future results and value for our stockholders."
  • Co issues in-line guidance for FY19, sees EPS of $1.21-1.38, excluding non-recurring items, vs. $1.33 S&P Capital IQ Consensus; sees FY19 revs of $2.5-2.56 bln vs. $2.54 bln S&P Capital IQ Consensus.
    • The Company expects growth in net sales, adjusted EBITDA, and adjusted EPS to be weighted towards the second half of fiscal 2019 as it benefits from the planned Hain Celestial United States strategic brand investments, distribution gains and price optimization efforts. As a result of the continued strategic brand investments and expected near-term cost headwinds, the Company expects first quarter of fiscal 2019 net sales to be flat to slightly down, adjusted EBITDA and adjusted EPS to be down year-over-year on a percentage basis similar to the fourth quarter of fiscal 2018

>>> Best Buy beats by $0.08, beats on revs, Q2 comps +6.2%; guides Q3 EPS below

Best Buy beats by $0.08, beats on revs, Q2 comps +6.2%; guides Q3 EPS below consensus, revs in-line, sees Q3 comps +3.5-4.5%; raises FY19 EPS, rev, and comp guidance (81.66)
  • Reports Q2 (Jul) earnings of $0.91 per share, excluding non-recurring items, $0.08 better than the S&P Capital IQ Consensus of $0.83; revenues rose 4.6% year/year to $9.38 bln vs the $9.25 bln S&P Capital IQ Consensus; Q2 Enterprise comps +6.2%; Q2 Domestic comps +6.0%
  • Co issues guidance for Q3, sees EPS of $0.79-0.84, excluding non-recurring items, vs. $0.92 S&P Capital IQ Consensus; sees Q3 revs of $9.4-9.5 bln vs. $9.48 bln S&P Capital IQ Consensus. Co sees Q3 comps of +3.5-4.5%
  • Co issues raised guidance for FY19, sees EPS of $4.95-5.10 from $4.80-5.00, excluding non-recurring items, vs. $5.02 S&P Capital IQ Consensus; sees FY19 revs of $42.3-42.7 bln from $41-42 bln vs. $42.29 bln S&P Capital IQ Consensus. "For the full year, we now expect FY19 comparable sales growth of 3.5% to 4.5% versus our original guidance of flat to growth of 2.0%...We continue to expect a non-GAAP operating income rate of approximately 4.5% for the full year, which is flat to FY18 on a 52-week basis. As we invest in the implementation of our strategy, the profitability profile of our quarters is not completely linear on a year-over-year basis."

>>> DSW beats by $0.16, beats on revs; raises FY19 guidance

DSW beats by $0.16, beats on revs; raises FY19 guidance (27.34)
  • Reports Q2 (Jul) earnings of $0.63 per share, $0.16 better than the S&P Capital IQ Consensus of $0.47; revenues rose 16.4% year/year to $793.7 mln vs the $689.41 mln S&P Capital IQ Consensus.
    • Comparable sales increased 9.7% for the same 13-week periods ended August 4, 2018 and August 5, 2017. Comparable sales exclude results from its Canada Retail segment.
  • Integration of New Canada Retail Segment -- As part of the two step acquisition, the Company completed the remeasurement of previously held assets, including the equity investment and note receivable from its initial investment in 2014, resulting in a non-cash charge of $34.0 million.
    • As a result of the current enterprise value exceeding the fair value of the acquired net assets, the Company recorded a goodwill impairment of $36.2 million.
    • Upon the completion of its comprehensive review, the Company will focus on its largest retail banners, Shoe Company, Shoe Warehouse and DSW Designer Shoe Warehouse. The Company will exit its full price, mall-based Town Shoes banner, which operates 38 locations, mostly by the end of the fiscal year.
    • The acquisition is expected to generate approximately $215 million in revenues and will be slightly accretive to Adjusted Earnings in 2018.
  • Outlook
    • Co issues guidance for FY19, sees EPS of $1.60-1.75 vs. $1.61 S&P Capital IQ Consensus, compared to its previous range of $1.52-1.67; sees FY19 revs of +6-9% YoY to $2.97-3.05 bln vs. $2.79 bln S&P Capital IQ Consensus. --Revenues from Canadian acquisition ~$215 million
    • Co reaffirmed Comparable sales growth of Low- to mid-single digit range

>>> US Early premarket gappers

Early premarket gappers

Gapping up:

  • AFMD +165.6%, BRKS +17.8%, HEI +8.2%, TIF +7.9%, LSCC +7.3%, BJ +3.2%, TTPH +3.1%, ALNY +2.4%, BMO +1.2%, AMD +1.1%, ICHR +0.6%

Gapping down:

  • AKCA -24.5%, IONS -12.4%, MITK -10.6%, WMGI -4.7%, PAHC -3.4%, EDIT -2.5%

>>> TIF - Reports Q2 $1.17 v $1.00e, Rev $1.08B v $1.04Be - Guides Q3 Net earnin

Reports Q2 $1.17 v $1.00e, Rev $1.08B v $1.04Be
- Guides Q3 Net earnings and EPS to be lower y/y
- Raises FY18 adj EPS (ex charges) $4.65-4.80 v $4.69e ; Rev "" %., SSS mid to high single digits (prior FY18 adj EPS (ex charges) $4.50-4.70; Rev high-single-digit %)
- Affirms FY18 Capex $280M; Cuts FCF 'at least' $300M; Net cash $600M (prior FY18 Capex $280M; FCF $400M; Net cash $700M)
- Affirms FY18 worldwide gross retail square footage +2%, 8 store openings,2# closings and 15 relocations (prior FY18 worldwide gross retail square footage +2%, 8 store openings, 2 closings and 15 relocations)
- operating margin below the prior year as a result of significant SG&A expense growth

- Gross margin 64.0% v 62.5% y/y
- July Net inventories +8% y/y

Constant-Exchange rate SSS
- Worldwide SSS +8%
- Americas SSS +8%
- Japan SSS +9%
- Asia-Pacific SSS +12%
- Europe SSS -1%

Exec: While in the early stages of addressing our six key strategic priorities, we are pleased with initial customer reactions to our new communication, product and in-store initiatives. The launch of PAPER FLOWERS, a floral collection in platinum and diamonds, is moving toward full global distribution and we believe our evolved brand message is gaining momentum. Our activities in these areas will further accelerate in the remainder of the year with special focus on product personalization, high jewelry, a whimsical holiday campaign and the unveiling in North America of TIFFANY TRUE, an innovative diamond ring concept.”

WSJ : Nasdaq Hits New Record as It Passes 8000 Mark

Nasdaq Hits New Record as It Passes 8000 Mark
The surge underscores how tech shares like Netflix and Amazon have powered the U.S. stock market this year

The Nasdaq Composite index vaulted above 8000 for the first time Monday, underscoring the dominant role megacap technology shares have played in propelling the U.S. stock market past its global peers this year.
It took the index just short of eight months to climb a thousand points after crossing 7000 in January—a pace unmatched since around the height of the dot-com era, when the Nasdaq jumped from 4000 to 5000 in just 49 trading days.
Before Monday, the last time the Nasdaq had crossed two thousand-point milestones in a single year was 1999, when a fervor for tech stocks sent a score of dot-com ventures surging higher before a precipitous crash.
Nearly two decades later, technology stocks are surging again, with online-streaming giantNetflix Inc. NFLX 1.61% soaring 90% this year, Amazon.com Inc. AMZN 1.17% climbing 65%,Microsoft Corp. MSFT 1.11% advancing 28% and Google parent Alphabet Inc. GOOGL 1.58%rising 19%.
Yet while investors have drawn plenty of parallels between the tech rally of the ’90s and now, many are reluctant to call it quits on the technology sector.
Corporate earnings are growing at the fastest pace in years. Many of the technology titans, including Amazon.com and Microsoft, have upended investors’ expectations this year and continued to post soaring profits.

More broadly, the U.S. economy looks strong, a factor that has propelled not just the tech-heavy Nasdaq but the S&P 500, the Russell 2000 index of small-capitalization companies and the Dow Jones Transportation Average to new records this month.
The broad gains, as well as a more upbeat economic outlook, are helping investors justify the tech sector’s rich valuations for now—even as some have grown increasingly nervous that the group could be overdue for a pullback. Monday’s news that the U.S. and Mexico had reached a trade agreement after months of protracted negotiation also helped send stocks broadly higher.
The Nasdaq rose 72 points, or 0.9%, to 8017.90 Monday, notching its 27th record close of the year.
With its 16% gain in 2018, the Nasdaq has nearly doubled the S&P 500’s advance. If it holds its lead through the end of the year, it will have outperformed the broad index for the eighth year in 10, a reflection of investors’ growing appetite for tech stocks throughout the latest leg of the bull market.
Yet the Nasdaq’s milestone is far from its biggest, mathematically speaking. The index had to climb 100% to get from 1000 to 2000 in 1998, 50% to get to 3000 in 1999 and 33% to hit 4000 the same year. Its latest thousand-point advance required a relatively diminutive 14% gain.