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May 16, 2014
10:29 EDTADSK, FOSL, EBIX, KATEOptions with decreasing implied volatility: ADSK FOSL EBIX KATE EPI
News For ADSK;FOSL;EBIX;KATE From The Last 14 Days
Check below for free stories on ADSK;FOSL;EBIX;KATE the last two weeks.
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September 2, 2014
07:33 EDTEBIXEbix purchases new buildings in India
Ebix announced that it has completed the purchase of two new buildings in Noida, India, in the Export Processing Zone of the Govt. of India. The company paid for the purchase using its own cash reserves in June. The company also announced that it has received a 100 percent tax-exempt status for these new buildings, until 2019, under the Software Export Zone, or SEZ, Act of the Govt. of India, after which the company is entitled to a 50% tax-free status in India until 2024. With this new purchase, the company now has a total of 10 offices in India spread across Noida, Chennai, Coimbatore, Nagpur, Hyderabad and Bangalore. Ebix presently employs in excess of 1,200 employees in India. These buildings will facilitate the Company's near- and long-term growth and acquisition plans and the associated need for offshore development and BPO resources.
August 26, 2014
11:31 EDTFOSLMovado tumbles after second quarter results, outlook miss estimates
Shares of luxury watch maker Movado (MOV) are falling after the company's second quarter results and fiscal 2015 outlook missed analysts' consensus estimates. WHAT'S NEW: This morning, Movado reported Q2 adjusted earnings per share of 44c and revenue of $143.6M, missing analysts' consensus estimates of 54c and $152.99M, respectively. Q2 gross profit was 54% of sales, compared to 54.1% of sales, in the prior year period. Gross margin percentage remained relatively flat as a result of the unfavorable impact of changes in foreign currency exchange rates, offset by the leverage gained on certain fixed costs due to increased sales. WHAT'S NOTABLE: Movado forecast FY15 EPS of $2.44, slightly short of the consensus of $2.46. FY15 revenue was seen at $640M, compared to consensus of $640.17M, while FY15 gross margin is expected to be approximately flat, year over year. Efraim Grinberg, Chairman and CEO, stated , "We anticipate our sales growth to accelerate during the second half of the year, as strong sell-through rates at retail are expected to drive new shipments and replenishment growth and we continue to benefit from the expansion of our Movado and licensed brands around the world. We will also continue to invest in our infrastructure and growth initiatives, including investments in Asia and Latin America. We continue to believe that our strategies have us positioned to achieve our goal of delivering sustainable profitable growth." PRICE ACTION: In late morning trading, Movado fell $3.08, or about 7%, to $40.96 on heavy trading volume. Despite today's pull back, the stock is up almost 8% over the past 12 months. OTHERS TO WATCH: Movado's peer, Fossil Group (FOSL), is up 0.2% on the session.
August 25, 2014
07:32 EDTEBIXEbix intends to repurchase $80M of shares over next 12 months
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August 20, 2014
07:45 EDTEBIXEbix announces new headquarters, building purchase in Johns Creek Park
Ebix announced that it has purchased property in Johns Creek Technology Park which will serve as the company's new headquarters and corporate campus. Ebix purchased 11.6 acres of land and 100,000 sq. ft. of office space for $12.5M. As announced earlier, the company paid for the purchase using its own cash reserves in June. The company hopes to achieve cost and operational efficiencies while moving a few of its 25 offices into this one location while integrating multiple Atlanta offices into this prospective world-class campus. The company intends to do so, while creating a world-class work environment and facility that can serve as a showcase for presenting all its products and services under one roof. Johns Creek Technology Park, located in Fulton Co. and central to the city's business environment, is a master-planned, mixed use 1,900-acre community and home to leading technology-focused businesses and several Fortune 500 companies.
05:58 EDTKATEStocks with implied volatility below IV index mean; KATE VRNG
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August 19, 2014
05:58 EDTKATEStocks with implied volatility below IV index mean; KATE VRNG
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