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Stock Market & Financial Investment News

News Breaks
May 29, 2014
15:25 EDTAEO, URBN, ANF, AROAbercrombie 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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May 19, 2015
07:42 EDTURBNUrban Outfitters weakness a buying opportunity, says Brean Capital
Brean Capital noted Urban Outfitters missed Q1 estimates but said they would be buyers on weakness as they believe the company is in the early stages of a turnaround. The firm sees considerable margin expansion, increased operating efficiencies, and share repurchases supporting the stock. Brean Capital reiterated its Buy rating and $46 price target on Urban Outfitters shares.
07:23 EDTURBNUrban Outfitters shares should be bought on weakness, says SunTrust
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05:56 EDTURBNUrban Outfitters downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Urban Outfitters to Neutral and lowered its price target for shares to $36 from $50 after the company's Q1 results missed expectations. The firm sees pressure in Q2 and believes the retailer will be a "show me" story in the second half of 2015. Shares of Urban Outfitters were also downgraded this morning at Oppenheimer and Piper Jaffray.
05:53 EDTURBNUrban Outfitters downgraded to Perform from Outperform at Oppenheimer
Oppenheimer downgraded Urban Outfitters to Perform with a $35 price target after the company's Q1 results missed expectations. Opco says retailers typically report multiple quarters of weaker than expected results. Shares of Urban Outfitters were also downgraded this morning at Piper Jaffray.
05:50 EDTURBNUrban Outfitters downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Urban Outfitters to Neutral with a $36 price target citing near-term transition uncertainty after the retailer's Q1 results missed expectations.
May 18, 2015
20:16 EDTANF, URBN, AEOUrban Outfitters down over 16% after disappointing Q1 results
Urban Oufitters (URBN) is down sharply after reporting first quarter earnings per share and revenue that missed analyst estimates. WHAT'S NEW: Urban Oufitters reported Q1 EPS of 25c on revenue of $739.01M, below consensus expectations of 30c and $758.25M, respectively. Urban Outfitters also reported Q1 comparable retail segment net sales up 4%, with Q1 retail segment net sales increasing 17% at Free People, 5% at Urban Outfitters, and 1% at the Anthropologie Group. Wholesale segment net sales rose 18%. WHAT'S NOTABLE: On its Q1 earnings conference call, Urban Outfitters announced that Urban Outfitters Group CEO Ted Marlow, who oversaw the direction of the namesake brand, would retire at the end of August. While Urban Outfitters did not provide guidance, Urban Outfitters Anthropologie Group CEO David McCreight commented on the Anthropologie brand, "We're expecting we could see Q2 shaping up like Q1 in terms of low single-digit comps. We could also see being in the low-mid-single digit comps. It's hard to tell at this point." ANALYST REACTION: Two analyst firms lowered their respective price targets on Urban Outfitters following the company's earnings report. Sterne Agee, which rates Urban Outfitters a Neutral, lowered its 12-month price target to $34 from $46, noting the company has had trouble getting both its Urban Outfitters and Anthropologie brands to perform at the same time. Cantor, which maintained its Buy rating, lowered its price target to $53 from $54, saying that Anthropologie sales disappointed, but noting that a "later catalog release appears to us to have pushed some sales at Anthropologie into May." PRICE ACTION: Urban Outfitters fell 16.4% to just over $34 in after-hours trading. PEERS: Other publicly traded companies in the space include Abercrombie & Fitch (ANF), American Eagle (AEO), Five Below (FIVE), Pacific Sunwear (PSUN), and Zumiez (ZUMZ).
19:12 EDTURBNOn The Fly: After Hours Movers
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16:40 EDTURBNUrban Outfitters down 13% following weaker than expected Q1 results
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16:03 EDTURBNUrban Outfitters reports Q1 comparable retail segment net sales up 4%
Comparable Q1 retail segment net sales increased 17% at Free People, 5% at Urban Outfitters and 1% at the Anthropologie Group. Wholesale segment net sales rose 18%.
16:02 EDTURBNUrban Outfitters reports Q1 EPS 25c, consensus 30c
Reports Q1 revenue $739.01M, consensus $758.25M.
15:29 EDTURBNOptions with increasing volume
Options with increasing volume: ACHN PAGP CBG NI NGLS LEA OKS GTI WETF URBN
15:14 EDTURBNUrban Outfitters technical comments ahead of earnings
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15:00 EDTURBNNotable companies reporting after market close
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12:01 EDTAEOAmerican Eagle management to meet with Guggenheim
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10:10 EDTURBNHigh option volume stocks
High option volume stocks: ASNA LAZ GTI CBRL ANN ISSI ANET HTS URBN LVLT
07:31 EDTURBNUrban Outfitters brands positioned for market share gains, says Brean Capital
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May 15, 2015
08:24 EDTAEOAmerican Eagle, Express should be bought ahead of results, says BMO Capital
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07:41 EDTAEOAmerican Eagle volatility elevated into Q1 and outlook
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May 14, 2015
10:00 EDTURBNOn The Fly: Analyst Upgrade Summary
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06:40 EDTURBNUrban Outfitters upgraded to Outperform from Market Perform at Telsey Advisory
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