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Stock Market & Financial Investment News

News Breaks
March 11, 2014
10:36 EDTAEO, URBN, ANF, ARO, APP, GPSAmerican Eagle, Urban Outfitters fall after earnings reports
Shares of mall-based clothing retailers American Eagle (AEO) and Urban Outfitters (URBN) are sliding after the both companies reported fourth quarter earnings per share that beat analysts' expectations but also sounded cautious notes about the current quarter. WHAT'S NEW: American Eagle reported fourth quarter adjusted earnings per share of 27c which narrowly beat analysts' consensus estimate of 26c. The company's revenue of $1.04B also edged out the consensus estimate of $1.03B, though American Eagle reported fourth quarter same-store-sales fell 7% from last year. The company said it expects its Q1 EPS to breakeven compared to adjusted EPS of 18c last year based on a high single-digit decline in comparable sales and added that "Business conditions remain challenging, with severe winter weather contributing to weak demand." Retail rival Urban Outfitters reported fourth quarter earnings per share of 59c, beating analysts' estimate of 55c, on revenue of $905.9M, which fell below the expectation of $927.86M. The company said comparable retail segment net sales, which include comparable direct-to-consumer channel, increased 1%. Urban Outfitters' CEO said the company will remain "very cautious" about its upcoming first quarter performance due to continued challenges. WHAT'S NOTABLE: During its fourth quarter earnings conference call, American Eagle said business has remained highly competitive and sales trends have been choppy so far this year, though added that it was encouraged by what it saw in the first few weeks of January. The company also noted that its search for a new CEO is under way. OTHERS TO WATCH: Retail rivals to both American Eagle and Urban Outfitters include Abercrombie & Fitch (ANF), Aeropostale (ARO), American Apparel (APP) and Gap (GPS). PRICE ACTION: During morning trading, shares of American Eagle fell 6.2% to $13.33, while Urban Outfitters was down 4.9% to $35.68. Shares of Abercrombie, American Apparel and Gap were all lower as well, though Aeropostale rose over 2% to $7.15 per share.
News For AEO;URBN;ANF;ARO;APP;GPS From The Last 14 Days
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October 24, 2014
06:38 EDTANFAbercrombie & Fitch downgraded to Sell from Neutral at Goldman
Goldman Sachs downgraded Abercrombie & Fitch to Sell saying the company could miss consensus expectations due to weakness in Europe, negative same store sales growth in the U.S. and unfavorable currency movements. Goldman lowered its price target for shares to $27 from $34.
October 23, 2014
10:01 EDTURBNOn The Fly: Analyst Initiation Summary
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07:54 EDTURBNUrban Outfitters initiated with a Hold at BB&T
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October 22, 2014
10:36 EDTGPSGap October calls active amid speculation it is reviewing strategic alternatives
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10:12 EDTGPSRumor: Gap up amid speculation it is reviewing strategic alternatives
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06:45 EDTAPPAmerican Apparel brings back creative director Alonzo, WWD reports
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October 21, 2014
10:00 EDTAEOOn The Fly: Analyst Initiation Summary
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06:06 EDTAEOAmerican Eagle initiated with an Outperform at BlueFin
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October 17, 2014
16:17 EDTURBNOn The Fly: Closing Wrap
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12:52 EDTURBNOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday, as the averages bounce back following steep declines in several recent sessions. Better than expected earnings from General Electric (GE) and Morgan Stanley (MS), a rebound in European stock markets and a stronger than expected reading on U.S. consumer confidence may all be contributing to the brightened mood evidenced by today's trading. ECONOMIC EVENTS: In the U.S., housing starts rebounded 6.3% to a 1.017M pace in September, beating expectations for a monthly increase of 4.6%. Building permits increased 1.5% to a 1.018M rate, which was below the expected 2.3% rise. The first release on the University of Michigan's consumer sentiment index for October came in at 86.4, versus expectations for a decline to 84.0 from the prior 84.6 reading. COMPANY NEWS: General Electric shares rose over 3% after the company reported better than expected third quarter profit and nearly in-line revenues. Morgan Stanley, whose quarterly results also topped Street expectations, advanced 2.5%. MAJOR MOVERS: Among the notable gainers was Westmoreland Coal (WLB), which gained 23% after it stuck a deal to acquire Oxford GP, the general partner of Oxford Resource Partners (OXF), and contribute certain royalty bearing coal reserves to Oxford in return for Oxford common units. Afterward, Brean Capital raised its price target on Westmoreland to $60, noting the announcement represents an entry into the MLP space. Also higher were shares of Textron (TXT), which advanced 11% after the aircraft and defense company reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. Among the noteworthy losers was Urban Outfitters (URBN), which dropped 13% and was downgraded by at least three Street research firms after the owner of Anthropologie and its namesake clothing stores warned that its Q3 earnings may be negatively impacted by continued weakness in its comparable retail sales. Also lower was Myriad Genetics (MYGN), which fell 7% after guiding to lower than expected Q1 adjusted earnings, citing a higher than expected increase in costs to perform its myRisk Hereditary Cancer test following the test's national launch. INDEXES: Near midday, the Dow was up 295.34, or 1.83%, to 16,412.58, the Nasdaq was up 62.43, or 1.48%, to 4,279.82, and the S&P 500 was up 29.48, or 1.58%, to 1,892.24.
11:28 EDTURBNUrban Outfitters downgraded to Neutral from Outperform at Credit Suisse
Note this is the fourth downgrade of the day.
10:43 EDTARO, URBN, AEO, ANFUrban Outfitters slumps after warning on continued retail sales weakness
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10:00 EDTURBNUrban Outfitters plunges after Q3 sales warning
The stock is down over 15% to $29.35, a fresh 52-week low, following a warning on negative sales trends after the bell yesterday. At current price next support is at $27.41. Resistance is at $30.16.
10:00 EDTURBNOn The Fly: Analyst Downgrade Summary
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09:17 EDTURBNOn The Fly: Pre-market Movers
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08:02 EDTURBNUrban Outfitters price target lowered to $41 from $44 at RW Baird
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07:30 EDTURBNUrban Outfitters downgraded to Neutral from Buy at Janney Capital
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06:53 EDTURBNUrban Outfitters downgraded at Morgan Stanley
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06:27 EDTURBNUrban Outfitters downgraded to Equal Weight from Overweight at Morgan Stanley
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05:29 EDTURBNUrban Outfitters downgraded to Neutral from Buy at Goldman
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