Big Lots PLAGUED by Weak Outlook and 4 Hot Stocks Attracting Attention

Autodesk, Inc. (NASDAQ:ADSK) has been downgraded by Canaccord Genuity to “hold” from “buy,” after the software maker lowered its current-quarter sales outlook due to weak demand, and a minimum of two other brokerages reduced their price targets on the stock. Shares of the company were prepared to open 22 percent lower on Friday. The stock closed at $35.71 on the Nasdaq on Thursday. Shares of Autodesk, Inc. are trading 15.78% lower today.

Aruba Networks, Inc. (NASDAQ:ARUN), a maker of components for mobile devices, rose the most in a year following reports of its fiscal Q4 sales and profit which surpassed the company’s forecast and analysts’ estimates. The shares saw an 18 percent increase to $19.92 at 10:26 a.m. in New York, and earlier, reached $20.20 for the biggest increase since Aug. 26, 2011. Through yesterday, the stock had dropped 8.6 percent for the year. Shares of Aruba Networks, Inc. are trading 16.49% higher today.

General Growth Properties Inc (NYSE:GGP): Brookfield Asset Management (NYSE:BAM) has mentioned a Schedule 13D filing with the SEC that was made by Pershing Square referencing a letter sent by it to the Board of Directors of General Growth Properties, or GGP. Brookfield states: “Brookfield is not taking any steps to acquire GGP nor is it having any discussions with third parties in that regard. Brookfield has no interest in selling its stake in GGP. We are 100% supportive of the current management team of GGP and believe that GGP’s business plan has and will continue to create significant long term value for all stakeholders. When Brookfield was chosen as an investor in GGP, it was explicitly on the basis that we were a long term investor. We have invested considerable capital, time and attention to support management and the Board as they enhance the value of GGP for all concerned.” The results to date are a testimony to their success. Through the past 12 months, at the request of Pershing Square, Brookfield has both considered and discussed several possible transactions which would facilitate Pershing Square’s wish to maximize the value of and create liquidity for its interest in GGP. These discussions have ceased. Brookfield owns nearly 40 percent of GGP with a value of more than $8 billion. Shares of General Growth Properties Inc are trading 4.18% lower today.

Big Lots, Inc. (NYSE:BIG) reported disappointing earnings yesterday for its Q2 and a weak outlook for the year, which causes shares to fall nearly 21 percent. Additionally, the Columbus-based closeout retailer announced an executive shake-up, which is to include the return of its former merchandising executive to his old post and the acceptance of the resignation of its executive vice president of merchandising. Shares of Big Lots, Inc. are trading 2.60% lower today.

Alliance Data Systems Corporation (NYSE:ADS) stated that delinquencies and charge-offs dropped in July from the previous year for the private-label cards it oversees. The company operates loyalty-program and private-label credit cards, which oversee accounts for retailers including Victoria’s Secret, Ann Taylor and Pottery Barn. Charge-offs dropped to 4.7 percent, from 6.2 percent the previous year but were flat from June. The percentage of accounts more than 30 days delinquent was down at 4 percent versus 4.7 percent the previous year and in June. Shares of Alliance Data Systems Corporation are trading 0.77% higher today.

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