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Stock Market & Financial Investment News

News Breaks
May 21, 2014
11:57 EDTAEO, ANF, URBNAmerican Eagle slides after sales miss, more store closures signaled
Shares of apparel retailer American Eagle Outfitters (AEO) are sliding this morning after the company reported first quarter results that reflected weaker than expected sales and increased markdowns and forecast second quarter earnings per share that fell short of analyst expectations. WHAT'S NEW: American Eagle reported Q1 EPS of 2c and revenue of $646M, which compare to analysts' consensus estimates of 0c and $647.74M, respectively. For the quarter, comparable store sales declined 10%. Interim CEO Jay Schottenstein said results were consistent with the company's expectations, reflecting weak sales and increased markdowns. Schottensetin said the company is committed to improved profitability and is working to strengthen its brands. The company forecast its second quarter to be approximately break-even in terms of profit on a high single digit decline in comparable sales. The consensus forecast of analysts for Q2 prior to the report was for 4c per share in earnings. The company said it has identified an additional 150 stores to close over the next three years in North America, with plans to close around 50 AE and 20 aerie stores in North America beginning this year. American Eagle sees annualized after-tax savings of $10M-$15M related to the closures beginning in 2015. WHAT'S NOTABLE: On its earnings conference call, the company said its search for a permanent CEO is "underway." Executives said the retailer is "committed to finding a strong successor," and will take the necessary time to find the "right person to do so." In the meantime, American Eagle's focus is "unwavering," and the "very strong" team will facilitate the company's recovery plan. PRICE ACTION: Near noon, American Eagle fell 63c, or 5.6%, to $10.70. OTHERS TO WATCH: Shares of American Eagle peer Abercrombie & Fitch (ANF) are down 1.26% to $36.70 while another retailer, Urban Outfitters (URBN), is also down around 1% to $32.63.
News For AEO;ANF;URBN From The Last 14 Days
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August 19, 2014
10:28 EDTAEOHigh option volume stocks
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10:13 EDTURBNOn The Fly: Analyst Upgrade Summary
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08:01 EDTURBNUrban Outfitters shares should be bought on weakness, says Stifel
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07:14 EDTURBNUrban Outfitters Urban brand turnaround on track, says RBC Capital
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05:48 EDTAEOStocks with implied volatility movement; AEO YHOO
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05:24 EDTURBNUrban Outfitters upgraded to Outperform from Neutral at RW Baird
RW Baird upgraded Urban Outfitters to Outperform citing a more favorable risk/reward following the company's Q2 results. Baird highlights merchandise improvements at the namesake brand and momentum at Anthropologie and Free People. The firm raised its price target for shares to $44 from $40.
August 18, 2014
18:21 EDTURBNOn The Fly: After Hours Movers
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17:45 EDTURBNUrban Outfitters has no intentions to close 'college stores'
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16:04 EDTURBNUrban Outfitters reports Q2 SSS flat
Q2 comparable Retail segment net sales, which include comparable direct-to-consumer channel, were flat.
16:03 EDTURBNUrban Outfitters reports Q2 EPS 49c, consensus 49c
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15:26 EDTURBNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Urban Outfitters (URBN), consensus 49c; Fabrinet (FN), consensus 35c.
12:32 EDTURBNUrban Outfitters technical comments ahead of earnings
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11:46 EDTURBNUrban Outfitters consensus estimates to come down, says Maxim
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11:05 EDTURBNOptions with increasing implied volatility
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10:08 EDTURBNUrban Outfitters volatility increases into Q2 and outlook
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06:24 EDTURBNOptions expected to be active
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August 15, 2014
11:20 EDTURBNOptions with increasing implied volatility
Options with increasing implied volatility: CRM URBN TGT
August 14, 2014
14:50 EDTURBNUrban Outfitters volatility flat into Q2 and outlook
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14:10 EDTAEOAmerican Eagle September volatility elevated into Q2 and autumn outlook
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12:46 EDTAEOHayman Capital gives quarterly update on stakes
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