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 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.