On Monday, Shares of Micron Technology, Inc. (NASDAQ:MU), lost -0.62% to $14.44, hitting its lowest level.
Brokerage firm Susquehanna Maintains its rating on Micron Technology (MU). As per the latest information, Susquehanna Lowers the price target to $24.00 per share from a preceding target of $28.00. The shares have been rated Positive. The rating by Susquehanna was issued on Aug 24, 2015.
The company has a market cap of $15,742 million and there are 1,083,436,000 shares in outstanding. The 52-week low of the share price is $14.24. Micron Technology, Inc. has dropped 46.83% during the last 3-month period. Year-to-Date the stock performance stands at -58.5%.
Micron Technology, Inc., together with its auxiliaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems.
Shares of J. C. Penney Company, Inc. (NYSE:JCP), declined -2.10% to $7.91, during its last trading session.
J.C. Penney Company declared financial results for its second quarter ended August 1, 2015. The Company stated net sales of $2.88 billion contrast to $2.80 billion in the second quarter of 2014. Same store sales raised 4.1 % for the period.
For the quarter, Men`s, Home, Sephora and Fine Jewelry were the Company`s top performing merchandise divisions. In particular, Sephora continued its strong performance this quarter with a double digit enhance in comparable store sales. Geographically, all regions practiced sales growth when contrast to the same period last year with the best performance in the western and central regions of the country.
For the second quarter, gross margin improved 100 basis points to 37.0 % of sales, driven by improvements in our clearance and promotional selling margins.
SG&A expenses for the quarter were down $63 million to $901 million or 31.3 % of sales, representing a 310 basis point improvement from last year. These savings were primarily driven by lower store controllable costs, advertising and improved private label credit card revenue.
J.C. Penney Company, Inc., through its partner, J. C. Penney Corporation, Inc., sells merchandise through department stores in the United States. The company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings, in addition to provides various services, counting styling salon, optical, portrait photography, and custom decorating.
Finally, Target Corp. (NYSE:TGT), ended its last trade with -3.98% loss, and closed at $75.28.
Target Corp. stated second quarter 2015 adjusted earnings per share from ongoing operations (Adjusted EPS) of $1.22, up 20.6 percent from $1.01 in 2014. GAAP EPS from ongoing operations were $1.21, contrast with $0.61 in second quarter 2014.
Fiscal 2015 Earnings Guidance
In third quarter 2015, Target anticipates Adjusted EPS of $0.79 to $0.89 contrast with $0.79 in third quarter 2014.
The Company now anticipates full-year 2015 Adjusted EPS of $4.60 to $4.75, contrast with preceding guidance of $4.50 to $4.65.
Segment Results
Second quarter 2015 sales raised 2.8 percent to $17.4 billion from $17.0 billion last year, reflecting a 2.4 percent enhance in comparable sales combined with sales from new stores. Digital channel sales grew 30 percent and contributed 0.6 percentage points to comparable sales growth. Segment earnings before interest expense and income taxes (EBIT) were $1,350 million in second quarter 2015, an enhance of 17.5 percent from $1,149 million in 2014.
Second quarter EBITDA and EBIT margin rates were 10.9 percent and 7.7 percent, respectively, contrast with 9.9 percent and 6.8 percent in 2014. Second quarter gross margin rate was 30.9 percent, contrast with 30.4 percent in 2014, reflecting the benefit of annualizing heightened promotional markdowns in second quarter 2014, and a favorable merchandise mix in second quarter 2015. Second quarter SG&A expense rate was 19.9 percent in 2015, contrast with 20.5 percent in 2014, reflecting ongoing cost savings initiatives and expense timing.
Target Corporation operates as a general merchandise retailer in the United States and Canada. It offers household essentials, counting pharmacy, beauty, personal care, baby care, cleaning, and paper products; music, movies, books, computer software, sporting goods, and toys; electronics, such as video game hardware and software; and apparel for women, men, boys, girls, toddlers, infants, and newborns, in addition to intimate apparel, jewelry, accessories, and shoes.
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