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Stock Market & Financial Investment News

News Breaks
May 29, 2014
15:25 EDTANF, AEO, ARO, URBNAbercrombie 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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September 24, 2014
08:33 EDTURBNUrban Outfitters buy on recent weakness, says Mizuho
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06:40 EDTURBNUrban Outfitters targets doubling revenue by 2020
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September 19, 2014
10:06 EDTURBNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abtech Holdings (ABHD) initiated with a Buy at Chardan... Alibaba (BABA) initiated with a Buy at ... Cherokee (CHKE) initiated with a Buy at Brean Capital... Columbia Property Trust (CXP) initiated with a Sell at Goldman... Emerge Energy (EMES) initiated with a Buy at Goldman... GrubHub (GRUB) initiated with a Buy at BofA/Merrill... Iconix Brand (ICON) initiated with a Hold at Brean Capital... Ideal Power (IPWR) initiated with a Buy at Roth Capital... NorthStar Asset Management (NSAM) initiated with a Hold at MLV & Co.... Restoration Hardware (RH) initiated with a Buy at CRT Capital... Sequential Brands (SQBG) initiated with a Buy at Brean Capital... Sprouts Farmers Markets (SFM) initiated with an Overweight at Barclays... Urban Outfitters (URBN) initiated with a Neutral at Buckingham... Williams-Sonoma (WSM) initiated with a Fair Value at CRT Capital... Xcel Brands (XELB) initiated with a Buy at Brean Capital.
10:06 EDTAEOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Buy from Neutral at Goldman... Concur (CNQR) upgraded to Neutral from Sell at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at Global Hunter... Deutsche Telekom (DTEGY) upgraded to Buy from Neutral at Citigroup... DuPont (DD) upgraded to Buy from Hold at BGC Financial... First Horizon (FHN) upgraded to Outperform from Market Perform at Raymond James... Francesca's (FRAN) upgraded to Buy from Neutral at Buckingham... Guess (GES) upgraded to Neutral from Underperform at Buckingham... National CineMedia (NCMI) upgraded to Outperform from Market Perform at FBR Capital... Patterson-UTI Energy (PTEN) upgraded to Overweight from Equalweight at Capital One... SABMiller (SBMRY) upgraded to Neutral from Reduce at Nomura... Synovus (SNV) upgraded to Strong Buy from Outperform at Raymond James... Texas Capital (TCBI) upgraded to Buy from Hold at Wunderlich... VF Corp. (VFC) upgraded to Buy from Hold at KeyBanc... Zions Bancorp (ZION) upgraded to Strong Buy from Outperform at Raymond James.
07:27 EDTURBNUrban Outfitters initiated with a Neutral at Buckingham
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06:30 EDTAEOAmerican Eagle upgraded to Buy from Neutral at Goldman
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September 18, 2014
10:57 EDTAEO, ANFU.S. ITC to investigate 17 denim jean companies for patent infringement
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