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Stock Market & Financial Investment News

News Breaks
May 21, 2014
11:57 EDTANF, AEO, 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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December 16, 2014
08:48 EDTANFAbercrombie & Fitch signs license agreement with Inter Parfums
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December 12, 2014
09:57 EDTANFAbercrombie & Fitch calls active on renewed takeover chatter
Abercrombie & Fitch December 27 and 28 calls are active on total call volume of 3,300 contracts (250 puts) on renewed takeover chatter. December call option implied volatility is at 47, January is at 44, February is at 45; compared to its 26-week average of 44 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
09:50 EDTANFRumor: Abercrombie & Fitch moves up on renewed takeover chatter
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06:12 EDTAEOStocks with implied volatility below IV index mean; AEO CBST
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December 11, 2014
10:24 EDTAEOOptions with decreasing implied volatility
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08:48 EDTANFAbercrombie an 'extremely attractive' takeover candidate, says FBR Capital
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08:11 EDTURBNUrban Outfitters risk/reward attractive for patient investors, says RW Baird
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07:33 EDTURBNUrban Outfitters Q4 comp trend encouraging, says Oppenheimer
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05:31 EDTURBNUrban Outfitters says Q4 SSS up low single-digit thus far in Q4
Urban Outfitters disclosed last night that thus far during Q4, its comparable Retail segment net sales are low single-digit positive.
December 10, 2014
10:20 EDTAEOOptions with decreasing implied volatility
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10:00 EDTAEOOn The Fly: Analyst Upgrade Summary
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08:47 EDTAEOAmerican Eagle upgraded at BMO Capital
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08:36 EDTURBNUrban QTD comps may rise as much as low-single digits, says Janney Capital
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06:11 EDTAEOAmerican Eagle upgraded to Outperform from Market Perform at BMO Capital
December 9, 2014
17:49 EDTANFAbercrombie & Fitch still not a 'buy', Barron's says
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10:23 EDTAEOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Outperform from Perform at Oppenheimer... Concho Resources (CXO) upgraded to Outperform from Neutral at Macquarie... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at FBR Capital... LHC Group (LHCG) upgraded to Outperform from Underperform at Credit Suisse... Lincoln Electric (LECO) upgraded to Buy from Neutral at Longbow... Northeast Utilities (NU) upgraded to Outperform from Neutral at Macquarie... SM Energy (SM) upgraded to Outperform from Neutral at Macquarie... Volcano (VOLC) upgraded at Needham... Wells Fargo sees fewer distractions for lululemon (LULU), upgrades shares... Xcel Energy (XEL) upgraded to Outperform from Neutral at Macquarie... lululemon (LULU) upgraded to Outperform from Market Perform at Wells Fargo.
08:50 EDTANFAbercrombie & Fitch CEO Michael Jeffries to retire
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08:48 EDTANFAbercrombie & Fitch CEO to retire
05:56 EDTAEOAmerican Eagle upgraded to Outperform from Perform at Oppenheimer
Oppenheimer upgraded American Eagle to Outperform with a $14 price target.
December 8, 2014
10:20 EDTANF, AEOOptions with decreasing implied volatility
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