On Tuesday, Shares of Target Corp. (NYSE:TGT), gained 0.83% to $72.91.
Target Corporation, stated third quarter 2015 adjusted earnings per share from ongoing operations (Adjusted EPS) of $0.86, up 8.6 percent from $0.79 in 2014. GAAP EPS from ongoing operations was $0.76, contrast with $0.82 in third quarter 2014, reflecting asset-impairment, data breach and restructuring expenses that were excluded from Adjusted EPS. Third Quarter GAAP EPS was $0.87, contrast with $0.55 last year, as this year’s results reflect $0.11 of tax benefits related to investment losses in Canada, contrast with $0.27 of after-tax losses related to Canadian operations in last year’s results.
Fiscal 2015 Earnings Guidance
In fourth quarter 2015, Target anticipates Adjusted EPS of $1.48 to $1.58, contrast with $1.49 in fourth quarter 2014.
The Company now anticipates full-year 2015 Adjusted EPS of $4.65 to $4.75, contrast with prior guidance of $4.60 to $4.75.
Target’s full-year 2015 GAAP EPS will comprise the following items, which are excluded from Adjusted EPS and reflected in our year-to-date GAAP results through the third quarter:
- Restructuring costs of $135 million, or (13) cents per share
- Net pre-tax data breach expenses of $38 million, or (4) cents per share
- Pre-tax asset-impairment expenses of $39 million, or (5) cents per share
- A 1 cent per share benefit from the favorable resolution of various income tax matters
- A 6 cent per share benefit related to suspended Canadian operations
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.
Shares of Southwest Airlines Co. (NYSE:LUV), inclined 0.42% to $45.93, during its last trading session.
Ginger C. Hardage, Southwest Airlines Senior Vice President, Culture & Communications, declared her retirement from the carrier, effective Dec. 31, 2015.
As the senior leader overseeing Culture & Communication at Southwest—the nation’s largest airline in terms of originating domestic passengers boarded—Hardage championed the airline’s communication and outreach evolution, counting Southwest’s Companywide Emergency Response effort, expanding the communication functions to comprise more robust internal communications capabilities and a social business effort, and a focused corporate philanthropy program. For the past seven years, she also led the airline’s Culture Committee, Employee recognition and engagement, and the Companywide celebrations. She was a member of various executive committees and led Southwest’s “Best Place to Work” initiative.
“Ginger has been a joy to work with, and she has made countless contributions to Southwest,” said Gary Kelly, Southwest’s Chairman, President, and CEO. “She has been an invaluable business partner, advisor, and mentor. She brings constant, positive energy and enthusiasm to all those around her, and that is infectious. She has built superb Teams that we are both very proud of, and that I know will continue her special brand of excellence.”
Southwest Airlines Co. operates passenger airlines that provide planned air transportation services in the United States and near-international markets. As of December 31, 2014, it operated 665 Boeing 737 aircraft; and had 12 Boeing 717 aircraft. The company served 93 destinations in 40 states, the District of Columbia, and the Commonwealth of Puerto Rico, in addition to 5 near-international countries, counting Mexico, Jamaica, The Bahamas, Aruba, and the Dominican Republic.
Finally, Two Harbors Investment Corp. (NYSE:TWO), ended its last trade with -0.12% loss, and closed at $8.26.
Two Harbors Investment Corp., declared recently that Lisa A. Pollina has been designated to the company’s Board of Directors. Ms. Pollina has extensive experience in the financial services industry, having most recently served as Vice Chairman for RBC Capital Markets, a division of the Royal Bank of Canada (RY). Before her appointment as Vice Chairman in 2012, she was the senior advisor to the chief executive officer for RBC International, where she also served as senior advisor for the boards of RBC Canadian Trust Company and the RBC Dexia Holding Company. Before joining RBC, Ms. Pollina served as the Global Financial Institutions Executive in the global corporate banking division of Bank of America and was a founding partner of Bordeaux Capital, a planned and financial advisory firm that emerged from Barclays Capital in 2002. Ms. Pollina is a member of the Financial Services Roundtable in Washington D.C. where she is Vice Chair of the Lending and Leasing Policy Committee for the United States. She is also an appointee to the Federal Reserve Bank of the United States’ Working Group on Global Markets. Ms. Pollina has served as a member of the Board of Directors for Ritchie Brothers Auctioneers (RBA) since May 2015. A MBA Graduate of Yale University, Ms. Pollina also taught strategy at Yale and Corporate Finance at the University of Chicago.
“We are happy to welcome Lisa to our Board,” said Brian Taylor, Chairman of the Board of Directors. “Lisa has an extensive and diverse background in the financial services industry, and we believe we will benefit greatly from her expertise as Two Harbors continues to grow.”
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), residential mortgage loans, mortgage servicing rights, commercial real estate debt and related assets, and other financial assets.
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