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TJX Companies Inc.’s stock jumped 3.6% in premarket trade Tuesday, after the apparel and home fashions retailer reported better-than-expected fiscal second-quarter results and lifted its full-year profit outlook. For the quarter ended Aug. 1, earnings rose to $549.3 million, or 80 cents a share, from $517.6 million, or 73 cents a share, in the same period a year ago. That beat the FactSet earnings-per-share consensus of 76 cents. Sales increased to $7.36 billion from $6.92 billion, above the FactSet consensus of $7.26 billion, with same-store sales growth of 6% doubling up expectations of 3% growth. Gross profit margin improved by 0.5 percentage points to 29.1%. TJX raised its full-year EPS outlook to a range of $3.24 to $3.28 from $3.21 to $3.27. “It was great to see that comp sales were entirely driven by customer traffic–our fifth consecutive quarter of sequential traffic improvement–and that we had strong sales across all of our divisions,” said Chief Executive Carol Meyrowitz. The stock has gained 4.4% year to date through Monday, while the S&P 500 has tacked on 2.1%.

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From:: Stock Market News

WASHINGTON (MarketWatch) – Construction on new U.S. homes rose in July at the fastest pace since before the Great Recession, offering further proof that the housing market continues to gain strength. Housing starts edged up 0.2% to an annual rate of 1.21 million last month, the Commerce Department said Tuesday. That’s the highest rate since October 2007, two months before the last recession began. Economists polled by MarketWatch had expected starts to total a seasonally adjusted 1.19 million. Starts for June were also revised up to a 1.20 million pace from 1.17 million. Yet permits for new construction, a sign of future demand, fell 16.3% to an annual rate of 1.12 million. Still, permits are 7.5% higher compared to one year ago. Permits for single-family homes, which account for almost three-quarters of the housing market, slipped 1.9% to an annual rate of 679,000 last month.

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From:: Stock Market News

Comcast’s NBCUniversal has agreed to make a $200 million equity investment in BuzzFeed, the online media company with more than 200 million monthly unique visitors and 1.5 billion monthly video views. The companies plan to collaborate on television content, movies, the Olympics, and joint partnerships with ad agencies and brands. As part of this deal, the two will also explore strategic partnerships across both organizations. Shares of Comcast were inactive in premarket trade. They have risen 6% over the last three months, outperforming the broader S&P 500, down 1.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Wells Fargo analyst Marci Ryvicker downgraded a number of media stocks on Tuesday as part of a re-valuation of the sector following what she said was “one of the worst earnings seasons we have ever had outside of the Great Recession,” as value shifts from content to distribution. Walt Disney Co. , CBS Corp. and 21st Century Fox Inc. were all downgraded to market perform from outperform. The only media company she covers that remains at outperform is Time Warner Inc. . Ryvicker said that actual second-quarter results were not that bad, but one major issue was that “there was no real ‘high-quality’ beat” within the group, as in no higher core cable or broadcast network revenue. She said investors seemed concerned about multiple compression, “as fears about the ‘fraying’ of the television ecosystem are finally coming to fruition.” Ryvicker also downgraded Clear Channel Outdoor Holdings Inc. and Outfront Media Inc. to market perform from outperform, while upgrading Entercom Communications Corp. to outperform from market perform. Among the stock’s seeing premarket activity, Disney’s fell 0.8%. It has tumbled 9.1% so far this month, while the Dow Jones Industrial Average has slipped 0.8%.

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From:: Stock Market News

Dick’s Sporting Goods Inc. said Tuesday it had net income of $90.8 million, or 77 cents a share, in the second quarter to Aug. 1, up from $69.5 million, or 57 cents a share, in the year earlier period. Sales rose 7.9% to $1.8 billion. The FactSet consensus was for EPS of 75 cents and sales of $1.8 billion. Same-store sales rose 1.2%, above the FactSet consensus of 1.1%. “We are seeing the benefits of our key growth pillars, as we continue to open very productive stores while winning online,” Chief Executive Edward Stack said in a statement. The company raised its fiscal 2015 EPS outlook to a range of $3.13 to $3.21, compared with a current FactSet consensus of $3.18. Same-store sales are expected to grow 1% to 3%, after a 2.4% rise in 2014. Shares were not yet active in premarket trade, but are up 2.1% in the year so far, matching the S&P 500’s gain.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Wal-Mart Stores Inc.’s stock dropped 2.6% in premarket trade Tuesday, after the discount retail giant missed fiscal second-quarter profit expectations, and cut its full-year outlook. For the quarter ended July 31, earnings declined to $3.48 billion, or $1.08 a share, from $4.09 billion, or $1.26 a share, in the same period a year ago. That was below the FactSet EPS consensus of $1.12. Revenue rose 0.1% to $120.23 billion, above the FactSet consensus of $119.8 billion, as a sharp increase in membership and other income offset a slight decline in net sales. Same-store sales rose 1.5% at Walmart US stores, above the FactSet consensus of 1% growth. Sam’s Club same-store sales increased 1.3%, beating the FactSet consensus of up 0.8%. The company cut its full-year EPS outlook to a range of $4.40 to $4.70 from $4.70 to $5.05, which includes a fiscal third-quarter outlook of 93 cents to $1.05. The FactSet Q3 EPS consensus is $1.08. “Operating profit will be pressured for the remainder of the year, due to continued investments in store associate wages and additional hours, as well as headwinds from pharmacy reimbursements and ongoing shrink, primarily in Walmart US,” said Chief Financial Officer Charles Holley. The stock has tumbled 16% year to date through Monday, while the Dow Jones Industrial Average has slipped 1.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Coach Inc. stock was upgraded to buy from hold at Jefferies on Tuesday with analysts arguing that the luxury accessories maker’s turnaround is not being fully appreciated by the market. The move is “based on visible green shoots in the business which gives us confidence that transformation initiatives are taking hold & fundamentals are bottoming,” analysts wrote in a note. “Survey results show COH is starting to attract more new customers at a faster rate than any churn to the legacy customer base.” Jefferies is expecting the company’s remodel to help it return to positive growth. North American remodels along are expected to add 20 cents to 50 cents to earnings per share in the next three to five years, they wrote. Shares were not yet active in preamrket trade, but are down 15% in the year so far, while the S&P 500 has gained 2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Spending on political advertising will hit a record $11.4 billion in 2016, according to a forecast released Tuesday by research firm Borrell Associates. That is up 20% from the last presidential election year, 2012. While broadcast television will account for the bulk of political ad spending, Borrell forecasts that spending on digital ads will break the $1 billion level for the first time in 2016. Borrell also estimates the average presidential candidate will have to spend $120 million on advertising.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

How to expand a small 1950s home on the water without sacrificing its charm? Raise the ceilings, add on in back, and create more rooms outdoors …read more

From:: DIY this old house

This Old House plumbing and heating expert Richard Trethewey shows how to install an emergency backup sump pump …read more

From:: DIY this old house