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Stock Market & Financial Investment News

News Breaks
May 29, 2014
15:25 EDTARO, AEO, URBN, ANFAbercrombie rises after sales beat, guidance backed
Shares of casual apparel retailer Abercrombie & Fitch (ANF) are rising after the company reported better than expected first quarter sales and backed its fiscal year profit outlook. WHAT'S NEW: Abercrombie & Fitch reported a Q1 adjusted loss per share of (17c), which was not as steep as the consensus prediction of (19c) per share. The retailer reported Q1 revenue of $822M, which exceeded the $798.2M consensus expectation. Comparable sales by brand, including direct-to-consumer, decreased 1% for Abercrombie & Fitch, decreased 6% for Abercrombie kids, and decreased 7% for Hollister. The company maintained its guidance of FY14 EPS in the range of $2.15-$2.35, which included the effect of its Q1 accelerated share repurchase. The guidance is based on the assumption that full year comparable sales will be down 3% to 4%, the company said. WHAT'S NOTABLE: During the company's Q1 earnings conference call, A&F said that it sees FY gross margin to be down slightly compared to the same period last year. Abercrombie & Fitch expects to open 15 full-price international stores throughout the year and approximately 8-10 international and U.S. outlet stores. The company continues to expect to close approximately 60-70 stores in the U.S. during the year through natural lease expirations. The retailer also noted that a search is underway for Abercrombie and Hollister brand presidents. ANALYST REACTION: Brean Capital analyst Eric Beder wrote in a note to investors that he believes Abercrombie & Fitch's maintained guidance remains conservative and that management made progress on several fronts during the quarter. Abercrombie surpassed "gloomy" Street projections and management has commenced the necessary steps to improve returns and come back to relevance in a "very difficult teen space," Beder wrote. The firm reiterated its Buy rating and $50 price target on the stock. OTHERS TO WATCH: Rivals to Abercrombie & Fitch include Aeropostale (ARO), Urban Outfitters (URBN), and American Eagle Outfitters (AEO). PRICE ACTION: During late afternoon trading, shares of Abercrombie & Fitch rose $2.07 or 5.9%, to $37.19.
News For ANF;AEO;ARO;URBN From The Last 14 Days
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July 2, 2015
08:07 EDTAROAeropostale signs new licensing agreements in India and Indonesia
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June 30, 2015
10:00 EDTANFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Market Perform from Outperform at FBR Capital... Apollo Education (APOL) downgraded on enrollment uncertainty at BofA/Merrill... Flagstar Bancorp (FBC) downgraded to Hold from Buy at Sandler O'Neill... Global Brass and Copper (BRSS) downgraded to Hold from Buy at BB&T... HSBC (HSBC) downgraded to Neutral from Buy at Goldman... Herman Miller (MLHR) downgraded to Neutral at Longbow... NiSource (NI) downgraded on valuation, post spinoff outlook at Argus... Sysco (SYY) downgraded to Hold from Buy at Deutsche Bank... TCF Financial (TCB) downgraded to Hold from Buy at Sandler O'Neill.
07:02 EDTANFAbercrombie & Fitch downgraded to Market Perform from Outperform at FBR Capital
FBR Capital downgraded Abercrombie & Fitch to Market Perform and maintained its $24 price target. The firm said store productivity could be pressured across segments as the brand image turnaround is a ways out and may require a new generation of consumers. FBR said sweeping cultural changes are positive but benefits will take time, there is potential for continued margin pressure from international, and the teen/young adult industry is in a multiyear transition.
June 26, 2015
09:16 EDTAROStephens encouraged by Aeropostale back-to-school show
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June 25, 2015
14:14 EDTANFAbercrombie & Fitch, DoJ settle immigration related employment case
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June 24, 2015
09:11 EDTAEOAmerican Eagle says environment continues to be highly promotional
Says "pleased" with 1H15 results. Says has seen "good" sequential improvement starting from 2H14 through 1Q15 and 2Q15. Says environment continues to be highly promotional, but seeing strength across all categories and regions. Says leveraging mall traffic, says AUR continues to grow, as well as unit volume. Sees room for improved merchandise margins in 2H. Sees continued EPS growth in 2H. Says "very" optimistic going into 2H. Comments made at the Oppenheimer Annual Consumer Conference.
09:04 EDTAEOAmerican Eagle repeats Q2 EPS view 11c-14c, consensus 14c
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June 23, 2015
18:00 EDTAROS&P announces changes to the S&P 400, 500, 600 indices
S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices: Columbia Pipeline Group (CPGX) will replace Allegheny Technologies (ATI) in the S&P 500, Allegheny Technologies will replace Unit Corp. (UNT) in the S&P MidCap 400, and Unit Corp. will replace PetroQuest Energy (PQ) in the S&P SmallCap 600 after the close of trading on Wednesday, July 1. S&P 500 constituent NiSource (NI) is spinning off Columbia Pipeline Group in a transaction expected to be completed on that date. NiSource will remain in the S&P 500 following the distribution. Allegheny Technologies, Unit and PetroQuest are all ranked near or at the bottom of their current indices. S&P SmallCap 600 constituent Casey’s General Stores (CASY) will replace AOL (AOL) in the S&P MidCap 400, and Nektar Therapeutics (NKTR) will replace Casey’s General Stores in the S&P SmallCap 600 after the close of trading on Thursday, June 25. S&P 100 & 500 constituent Verizon (VZ) acquired AOL in a transaction completed today. TopBuild (BLD) will replace Aéropostale (ARO) in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. S&P 500 constituent Masco (MAS) is spinning off TopBuild in a transaction expected to be completed on that date. Masco will remain in the S&P 500 following the distribution. Aéropostale is ranked near the bottom of the S&P SmallCap 600. “New” Gannett Co. (GCI) will replace Quiksilver (ZQK) in the S&P SmallCap 600 after the close of trading on Friday, June 26. S&P 500 constituent Gannett Co. (GCI) is spinning off “new” Gannett Co. in a transaction expected to be completed on that date. Post spin, the parent company will change its name to TEGNA. and trade under the symbol “TGNA”. It will remain in the S&P 500 following the distribution. Quiksilver is ranked near the bottom of the S&P SmallCap 600. Cable ONE Inc. (CABO) will replace Peabody Energy (BTU) in the S&P MidCap 400 after the close of trading on Tuesday, June 30. S&P MidCap 400 constituent Graham Holdings Company (GHC) is spinning off CableOne in a transaction expected to be completed on that date. Graham Holdings will remain in the S&P MidCap 400 following the distribution. Peabody Energy is ranked near the bottom of the S&P MidCap 400. The Chemours Co. (CC) will replace Semtech Corp. (SMTC) in the S&P MidCap 400, and Semtech will replace Paragon Offshore (PGN) in the S&P SmallCap 600 after the close of trading on Tuesday June 30. S&P 100 & 500 constituent E. I. du Pont de Nemours and Co. (DD) is spinning off Chemours in a transaction expected to be completed on that date. Dupont will remain in the S&P 100 & 500 following the distribution. Semtech and Paragon Offshore are ranked near or at the bottom of their current indices. “New “ Energizer Holdings (ENR) will replace Harsco (HSC) in the S&P MidCap 400, and Harsco will replace FXCM (FXCM) in the SmallCap 600 after the close of trading on Tuesday, June 30. S&P MidCap 400 constituent Energizer (ENR) is spinning off “new” Energizer in a transaction expected to be completed on that date. Post spin, the parent company will change its name to Edgewell Personal Care Co. and trade under the symbol “EPC”. It will remain in the S&P MidCap 400 following the distribution. Harsco and FXCM are ranked near or at the bottom of their current indices.
17:22 EDTAROTopBuild to replace Aeropostale in S&P 600 as of 6/30 close
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07:36 EDTANFJMP Securities to hold a conference
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07:15 EDTAEOOppenheimer to hold a conference
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