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August 11, 2014
20:25 EDTAER, AER, LOJN, LOJN, RCPT, RCPT, TOUR, TOUR, OCIP, OCIP, CST, CST, FLO, FLO, KATE, KATE, VAL, VAL, TW, TW, CVG, CVGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include AerCap Holdings (AER), consensus 77c; Towers Watson (TW), consensus $1.25; Valspar (VAL), consensus $1.13; Kate Spade (KATE), consensus 0c; Flowers Foods (FLO), consensus 24c; CST Brands (CST), consensus 49c; OCI Partners (OCIP), consensus 64c; Tuniu (TOUR), consensus (21c); Receptos (RCPT), consensus (85c); LoJack (LOJN), one estimate 4c; Convergys (CVG), consensus 32c.
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August 3, 2015
14:36 EDTAEREarnings Watch: AIG to report after bailout ruling removes overhang
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09:08 EDTKATEKate Spade could see relief rally on in-line results, says Stephens
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July 31, 2015
15:11 EDTKATEKate Spade volatility elevated into Q2 and outlook
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July 28, 2015
14:21 EDTVALMasco spikes higher after quarterly results and analyst upgrade
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10:23 EDTKATEBMO Capital says high-end handbag makers to stay weak
High end handbag makers Coach (COH), Kate Spade (KATE) and Michael Kors (KORS) are continuing to struggle and their share prices are likely to remain weak, research firm BMO Capital wrote in a note to investors today. The firm significantly cut its price targets on all three names. WHAT'S NEW: Consumers are spending less on high-end handbags as they increase the amount they allocate to other areas, including travel, leisure and apparel, BMO Capital analyst John Morris stated. Consequently, the North American handbag market was expanding at a 5% rate at the end of June, down from a high single digit rate earlier this year, according to Morris. Meanwhile, competition within the space is mounting and handbag price wars are continuing, the analyst stated. Although handbag stocks have dropped significantly and their valuations appear attractive, they are "falling knives," the analyst warned. Assessing the status of specific companies, Morris says that Kate Spade has avoided implementing major price cuts on its products, though its comparative sales and "mind share" have suffered as a result of that decision and stores are displaying its products less prominently. Coach's stock suggests that investors expect the company's fundamentals to rebound, but Morris thinks that their optimism may be premature. The pace of the company's improvement "remains challenging," and it is likely to be hurt by a decline of U.S. tourism, he believes. Also likely to be hurt by declines in tourism is Michael Kors, the analyst stated. The prices of Michael Kors' products are being reduced by retailers, its gross margins are sinking and its watch business is weak, Morris warned. He reduced his price target on Kate Spade to $19 from $30, on Coach to $28 from $37 and on Michael Kors to $40 from $51. The analyst kept Market Perform ratings on all three stocks. PRICE ACTION: In early trading, Kate Spade was little changed at $18.75, Coach fell 0.5% to $30.60 and Michael Kors was fractionally higher at $39.17.
09:04 EDTKATEHandbag makers estimates, price targets lowered at BMO Capital
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07:31 EDTRCPTCelgene commences tender offer for Receptos
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July 27, 2015
10:40 EDTRCPTIsis 'most obvious' Biogen takeover target, TheStreet's Feuerstein says
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July 22, 2015
14:37 EDTVALHome improvement stocks rally after Owens Corning results, home sales data
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July 21, 2015
10:24 EDTRCPTOptions with decreasing implied volatility
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06:29 EDTRCPTCelgene price target raised to $160 from $147 at Piper Jaffray
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06:24 EDTRCPTPiper expects 'stronger, bolder' move from Biogen
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