Macy’s, Health Net, Nordstrom, Lowe’s, Altria Win New Stock Price Highs Today
Macy’s Inc (NYSE:M): Based on strong March results, the company said same-store sales in its combined March-April period, as well as in the first quarter as a whole, are expected to be up by 4.3 percent to 4.5 percent. This compares to previous guidance for combined March-April same store sales to rise by approximately 3 percent to 3.5 percent. The new guidance calculates to an expected same-store sales increase in the range of 1 percent to 1.3 percent in April. Sales in April are planned to be weaker than in March, given the calendar shift in which the pre-Easter period falls into March this year versus April last year, as well as the cosmetics event shift. Moreover, April sales are expected to be disadvantaged by a Mother’s Day that is later in May this year. The shares closed at $40.84, down $0.07 or 0.17% on the day. They have traded in a 52-week range of $22.66 to $41.26.
Health Net Inc. (NYSE:HNT): The California Department of Health Care Services selected Health Net to participate in its proposed dual eligibles demonstration pilot for both Los Angeles County and San Diego County. The state of California is pursuing new approaches to service the dual eligibles population beneficiaries that are eligible for both Medicare and Medicaid. Following a period for stakeholder input, California will submit this proposal to the Centers for Medicare & Medicaid Services for approval. The shares closed at $40.51, up $0.6 or 1.5% on the day. They have traded in a 52-week range of $20.51 to $40.54.
Nordstrom (NYSE:JWN): Nordstrom reports March SSS up 8.6%. The shares closed at $56.17, up $0.62 or 1.12% on the day. They have traded in a 52-week range of $37.28 to $56.50.
Lowe’s Companies (NYSE:LOW): Rona Inc., the Canadian home improvement retailer said it wasn’t for sale following comments by a Lowe’s (NYSE:LOW) executive that Rona is a very interesting company, reports the Globe and Mail. The shares closed at $31.35, up $0.08 or 0.26% on the day. They have traded in a 52-week range of $18.07 to $31.57.
Altria Group (NYSE:MO): The World Trade Organization, or WTO, yesterday demanded that the U.S. government drop or alter its ban on most flavored cigarettes, according to The Hill. Indonesia challenged America’s regulations on flavored cigarettes, claiming that the ban, which excludes menthol cigarettes, discriminates against Indonesian clove cigarettes, the publication said. Yesterday’s decision came from the WTO’s appellate body which reinforced a similar decision reached by the organization last September, but the OBama administration said it would ignore yesterday’s ruling, the publication added. The shares closed at $31.36, up $0.25 or 0.8% on the day. They have traded in a 52-week range of $23.20 to $31.34.
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