American Eagle says search for new CEO "under way" Says acting CEO says recently added to holdings. Says global expansion "exciting opportunity." Says stabilizing North America business is "job number one." Sees FY14 CapEx $230M. Says new distribution center is scheduled to open this summer. Expects Q1 ending inventory to decrease in the mid-single digits. Says FY13, FY14 "catch-up years." Says FY14 new store openings will be driven by international and factory stores including U.K. launch. Says business has remained highly competitive and sales trends have been choppy so far this year. Says was encouraged by what it saw in the first few weeks of January, sales deteriorated and negative trends continued into Q1. Comments made during the company's Q4 earnings conference call.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Buy from Neutral at Goldman... Concur (CNQR) upgraded to Neutral from Sell at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at Global Hunter... Deutsche Telekom (DTEGY) upgraded to Buy from Neutral at Citigroup... DuPont (DD) upgraded to Buy from Hold at BGC Financial... First Horizon (FHN) upgraded to Outperform from Market Perform at Raymond James... Francesca's (FRAN) upgraded to Buy from Neutral at Buckingham... Guess (GES) upgraded to Neutral from Underperform at Buckingham... National CineMedia (NCMI) upgraded to Outperform from Market Perform at FBR Capital... Patterson-UTI Energy (PTEN) upgraded to Overweight from Equalweight at Capital One... SABMiller (SBMRY) upgraded to Neutral from Reduce at Nomura... Synovus (SNV) upgraded to Strong Buy from Outperform at Raymond James... Texas Capital (TCBI) upgraded to Buy from Hold at Wunderlich... VF Corp. (VFC) upgraded to Buy from Hold at KeyBanc... Zions Bancorp (ZION) upgraded to Strong Buy from Outperform at Raymond James.