HALISTER: Target Boosts Year EPS, 4Q Comps. Views; 3Q Results Top Ests.

Target Boosts Year EPS, 4Q Comps. Views; 3Q Results Top Ests.

(Bloomberg) -- Target sees FY17 adj. EPS $5.10-$5.30, saw $4.80-$5.20 (Aug. 17), est. $4.94.
  • Year forecast boost reflects early debt-retirement losses, “a small benefit” from the resolution of income tax matters
  • TGT up 6% pre-market with 4.4k shares traded
  • Sees 4Q comp. sales down 1% to up 1%, saw down 2% to unchanged
  • Sees 4Q adj. EPS $1.55-$1.75, est. $1.60 (range $1.49-$1.66)
  • 3Q adj. EPS $1.04, saw 75c-95c, est. 83c
  • 3Q gross margin 30.2%, est. 29.5%
  • 3Q sales $16.4b vs est. $16.3b (range $16.1b-$16.5b)
  • 3Q comp. sales -0.2%, saw down 2% to unchanged, est. -1.1% (compiled by Consensus Metrix, avg of 21)
    • Comp. sales growth in Signature Categories outpaced total comps. by more than 3ppts; digital channel sales rose 26%
  • Call 8am (866)271-8911
  • See PREVIEW TARGET 3Q: MKM Sees Another Quarter of Negative Comps
Statement: NSN OGQFY0MEQTXC
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
TGT US (Target Corp)

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UUID: 7947283

HALISTER: Lowe’s Cuts Year Forecasts; 3Q Adj. EPS, Comp Sales Miss

Lowe’s Cuts Year Forecasts; 3Q Adj. EPS, Comp Sales Miss

(Bloomberg) -- Lowe’s sees year EPS $3.52, saw about $4.06 (Aug. 17), est. $4.00.
  • Sees year sales up 9-10%, saw up about 10%; est. up 10% to $64.71b
    • Sees year comps up 3%-4%; saw up 4%
    • Traffic slowed more than anticipated in Aug., Sept. before improving in Oct.: CEO Robert Niblock
    • In process of evaluating “meaningful” incremental opportunities to drive shareholder value
  • Shrs down ~3.8% pre-mkt
  • 3Q adj EPS 88c, est. 96c
  • 3Q net sales $15.7b, est. $15.8b
  • 3Q comp. sales +2.7% vs est. +3.2% (Consensus Metrix avg of 27)
  • NOTE: Nov. 15, Home Depot Raises Yr EPS View, Affirms Rev.; 3Q EPS, Sales Beat
  • Call 9am, webcast
Statement: NSN OGQEK73MSFLS PREVIEW HOME DEPOT, LOWE’S 3Q: Slowing Housing Trends May Weigh
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
LOW US (Lowe's Cos Inc)

People
Robert Niblock (Lowe's Cos Inc)

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UUID: 7947283

HALISTER1: U.K. Sept. 3-Mo. ILO Unemployment Rate Due in 5 Mins; Est. 4.9%

U.K. Sept. 3-Mo. ILO Unemployment Rate Due in 5 Mins; Est. 4.9%

(Bloomberg) -- U.K. September 3-month ILO unemployment rate est. 4.9% vs previous 4.9%.
  • U.K. September average weekly earnings 3-month average y/y est. 2.4% vs previous 2.3%
  • U.K. October jobless claims change est. 2.0k vs previous 0.7k
  • U.K. October claimant count rate est. 2.3% vs previous 2.3%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: Bangladesh Bank to Pursue Forfeiture of $35m More Heist Money

Bangladesh Bank to Pursue Forfeiture of $35m More Heist Money

(Bloomberg) -- Additional money Bangladesh Bank seeks to forfeit consists of $29m that went to a casino and $6m to a junket operator, Ambassador John Gomes says at briefing in Manila.
  • Gomes says he’s confident of help from President Rodrigo Duterte because he’s serious about fight against money laundering, citing Philippine leader’s speech this week
  • 8-member high-level delegation from Bangladesh to meet with Duterte Nov. 28-Dec. 1, including Bangladesh Bank Governor Fazle Kabir, Minister of Law, Justice and Parliamentary Affairs Anisul Huq, Attorney General Mahbubey Alam, Secretary for Bank and Financial Institutions at Ministry of Finance Eunusur Rahman
  • “I don’t think it is not recoverable,” Gomes says; “I’m optimistic that with AMLC’s more active cooperation and talks with DOJ, we should be able to get more money,” he says, referring to Anti-Money Laundering Council
  • $15m returned by junket operator already returned to Bangladesh Bank’s Federal Reserve account in 2 tranches this month
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Fazle Kabir (Bangladesh Bank)

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UUID: 7947283