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Stock Market & Financial Investment News

News Breaks
February 26, 2014
10:27 EDTARO, APP, GPS, ANF, AEOAbercrombie rises after beating high-end of Q4 earnings expectations
Shares of apparel retailer Abercrombie & Fitch (ANF) are rising after the company reported higher than expected fourth quarter earnings. WHAT'S NEW: The company reported fourth quarter earnings per share excluding items of $1.34 on revenue of $1.3B. Analysts were looking for fourth quarter earnings per share of $1.03 on revenue of $1.36B, according to First Call. The consensus range for earnings per share was 92c-$1.17 on revenue of $1.25B-$1.67B. Abercrombie & Fitch also reported fourth quarter same-store sales were down 8%. WHAT'S NOTABLE: Abercrombie & Fitch announced that its board approved a $150M accelerated share repurchase to be executed during the first quarter of FY14. The company forecast a high-single digit decline in comparable store sales and an approximate 20% increase in comparable direct-to-consumer sales in FY14. The company also said it sees a significant increase in planned marketing spend in FY14 and anticipates opening 16 full-priced international stores throughout the year. OTHERS TO WATCH: Retail rivals to Abercrombie & Fitch include American Eagle Outfitters (AEO), Aeropostale (ARO), American Apparel (APP), and Gap (GPS). PRICE ACTION: During mid-morning trading, shares of Abercrombie & Fitch rose about 8% to $38.84, while Aeropostale was up almost 5%, American Eagle gained 3%, and American Apparel and Gap both advanced about 1%.
News For ANF;AEO;ARO;APP;GPS From The Last 14 Days
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August 12, 2014
17:39 EDTAPPAmerican Apparel reports estimated Q2 EPS (9c), one estimate (6c)
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16:48 EDTAPPAmerican Apparel files to delay 10-Q
As previously disclosed, five of the seven directors of American Apparel resigned on July 9, and four new board members were appointed to fill the vacancies resulting from such resignations on August 2, and one new board member was appointed to fill the remaining vacancy on August 8. The new board needs additional time to review the financials and ask questions of management before the Company is in a position to finalize the financials to the Quarterly Report on Form 10-Q for the quarter ended June 30. In light of the foregoing, the process of completing the financial statements and the related information required to be included in the Quarterly Report could not be completed by the scheduled filing deadline for the Quarterly Report.
12:31 EDTANF, AEO, AROAbercrombie upgraded at Stifel citing better assortment, trimmed costs
Shares of Abercrombie & Fitch (ANF) were upgraded by research firm Stifel this morning, though the retailer's shares are slightly lower in early afternoon trading. WHAT'S NEW: Stifel analyst Richard Jaffe upgraded Abercrombie & Fitch to Buy from Hold, citing the retailer's better merchandise assortment and reshaped cost structure. Jaffe feels that Abercrombie & Fitch had been running with overblown expenses and believes that having a slimmer cost structure will allow the company to influence sales better and boost future EPS. The analyst raised his Q4 EPS estimate to $1.94 from $1.87, his FY14 EPS estimate to $2.50 from $2.43 and his FY15 EPS estimate to $3.40 from $3.14. Over the next year, Jaffe said that he expects A&F shares will be valued for the company's effort to win back customers at its Hollister and Abercrombie stores. Still, he said that Q3 could continue to be a struggle for the retailer due to external obstacles that are still a headwind. The firm maintains a $50 price target on the retailer's shares. WHAT'S NOTABLE: Analysts at Wunderlich also initiated coverage of the stock this morning with a Buy rating and a $48 price target. PRICE ACTION: During early afternoon trading, shares of Abercrombie & Fitch fell 9c, or 0.2%, to $41.47. OTHERS TO WATCH: Rivals to Abercrombie & Fitch include Aeropostale (ARO), Urban Outfitters (URBN), and American Eagle Outfitters (AEO).
11:10 EDTAROHigh option volume stocks
High option volume stocks: ACM KATE ARO TKMR ODP ICPT GPI FENG LINTA NDLS
10:00 EDTARO, ANF, AEOOn The Fly: Analyst Initiation Summary
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10:00 EDTANFOn The Fly: Analyst Upgrade Summary
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09:21 EDTANFOn The Fly: Pre-market Movers
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08:42 EDTAROAeropostale initiated with a Hold at Wunderlich
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08:42 EDTAEOAmerican Eagle initiated with a Hold at Wunderlich
Target $11.
08:42 EDTANFAbercrombie & Fitch initiated with a Buy at Wunderlich
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August 11, 2014
18:07 EDTANFAbercrombie & Fitch upgraded to Buy from Hold at Stifel
Stifel upgraded Abercrombie & Fitch to Buy with a $50 price target citing an improved risk/reward profile given the company's better merchandise assortment and realigned cost structure.
10:19 EDTGPSOn The Fly: Analyst Initiation Summary
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07:07 EDTGPSGap initiated with a Neutral at Credit Suisse
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August 8, 2014
18:07 EDTGPSGap shares poised to rise, Barron's reports
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09:15 EDTGPSOn The Fly: Pre-market Movers
HIGHER: NVIDIA (NVDA), up 4.2%, upgraded at Needham following its better than expected Q2 results... Arista Networks (ANET), up 8%, upgraded at Citigroup following better than expected Q2 results, announcing an expanded strategic relationship with VMware (VMW)... Tekmira Pharmaceuticals (TKMR), up 17.5% after announcing that the FDA verbally confirmed they have modified the full clinical hold placed on its TKM-Ebola treatment to a partial clinical hold... Gap (GPS), up 4.7% after July same-store sales rose 2%, company issues Q2 EPS outlook above the consensus estimate... lululemon (LULU), up 2.4% after founder agrees to sell half his stake to Advent for $845M. UP AFTER EARNINGS: SolarCity (SCTY), up 1%... Assured Guaranty (AGO), up 9%... MercadoLibre (MELI), up 13.6%. LOWER: Zynga (ZNGA), down 6% after lowering fiscal 2014 guidance... McDonald's (MCD), down 0.4% after Chinese supplier issue contributes to July comparable sales drop of 2.5%.
August 7, 2014
16:10 EDTGPSGap pops higher after results, first look
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16:07 EDTGPSGap sees Q2 EPS ex-benefit 68c-69c, consensus 66c
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16:02 EDTGPSGap reports July SSS up 2%
Gap reports comparable sales for July were up 2% versus a 1% increase last year. Comparable sales by global brand for July were as follows: Gap Global negative 2% versus positive 7% last year; Banana Republic Global positive 6% versus negative 1% last year; Old Navy Global positive 3% versus negative 5% last year.
August 6, 2014
11:10 EDTAEOOptions with increasing implied volatility
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11:06 EDTAEOAmerican Eagle volatility increases into Q2 and outlook
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