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Stock Market & Financial Investment News

News Breaks
May 29, 2014
15:25 EDTURBN, ANF, ARO, AEOAbercrombie 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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March 25, 2015
09:25 EDTAEOAmerican Eagle announces license agreements in Chile, Peru
American Eagle Outfitters (AEO) announced plans to further expand its global retail presence with a series of licensed stores throughout Chile and Peru. The company has signed a multi-year license agreement with Eurofashion Limitada, a Chilean company and division of Cencosud (CNCO). The agreement includes American Eagle Outfitters stores, which will offer the American Eagle Outfitters and Aerie assortments. The first stores are expected to open in Chile in 3Q15 and in Peru in early 2016.
March 24, 2015
10:20 EDTANFAbercrombie & Fitch sees ongoing expense reduction as way of life going forward
10:16 EDTANFAbercrombie & Fitch sees 'sigificant' FX headwinds in 2015
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07:27 EDTANFTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
March 17, 2015
07:53 EDTAEOMatson American Eagle Jack Henry named triple play at Oppenheimer
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March 16, 2015
10:14 EDTURBNOptions with decreasing implied volatility
Options with decreasing implied volatility: EXPR ULTA SGMS QIHU BKS PAY URBN AGN AGNC
March 13, 2015
16:24 EDTAROOn The Fly: Closing Wrap
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12:33 EDTAROOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after data showed that U.S. wholesale prices unexpectedly declined in February for a fourth straight month. The Dow has lost more than 200 points, giving back most of what it had gained yesterday. ECONOMIC EVENTS: In the U.S., the producer price index decreased 0.5% in February, versus expectations for a gain of 0.3%. The "core" PPI, which excludes food and fuel, also declined 0.5%. The University of Michigan consumer sentiment index dropped to 91.2 in the preliminary reading for March, which was down from February's 95.4 reading and below the 95.5 consensus forecast. The Baker Hughes U.S. rig count for the week of March 13 is expected at 1:00 pm EDT. Outside the U.S., Russia's central bank cut its key interest rate by one percentage point to 14%. COMPANY NEWS: Herbalife (HLF) shares advanced nearly 13% after The Wall Street Journal reported last night that the FBI and Manhattan's federal attorney's office are investigating whether the stock has been manipulated. In response, Pershing Square Capital's Bill Ackman said his firm is not aware of any statements that it has made that are untrue, nor is it aware of any unlawful conduct on its part or by any consultants that it has hired, in relation to Herbalife, which Ackman reiterated he believes is a pyramid scheme. MAJOR MOVERS: Among the noteworthy advancers was NXP Semiconductors (NXPI), which gained 4% after Needham initiated coverage of with a Strong Buy and $140 price target. Also of note, the U.S. International Trade Commission agreed to investigate certain electronic products with near field communication systems made by Dell that NXP claims infringe its patents. Also higher was El Pollo Loco (LOCO), which rose 12.5% after the restaurant operatorís quarterly results surpassed consensus estimates. Among the noteworthy losers was Whiting Petroleum (WLL), which slid 8.5% following a report from Reuters that said the company may look to sell certain assets, not the whole company as had previously been suggested by media reports. Also lower following its earnings reports was teen apparel retailer Aeropostale (ARO), which fell more than 17%. INDEXES: Near midday, the Dow was down 211.25, or 1.18%, to 17,683.97, the Nasdaq was down 44.12, or 0.9%, to 4,849.17, and the S&P 500 was down 20.01, or 0.97%, to 2,045.94.
10:37 EDTURBNOptions with decreasing implied volatility
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09:25 EDTAROOn The Fly: Pre-market Movers
UP AFTER EARNINGS: FXCM (FXCM), up 15.8%... El Pollo LoCo (LOCO), up 9.9%... Ulta Salon (ULTA), up 7.1%... Hibbett Sports (HIBB), up 5.1%... Ann Inc (ANN), up 5.5%... Spectrum Pharmaceuticals (SPPI), up 2.9%. ALSO HIGHER: Herbalife (HLF), up 5.1% following a Wall Street Journal report that federal prosecutors are investigating potential stock manipulation... Mobileye (MBLY), up 4.7% after being upgraded at Goldman... NXP Semiconductors (NXPI), up 1.7% after being initiated with a Strong Buy at Needham. DOWN AFTER EARNINGS: Aeropostale (ARO), down 13.2%... CTI BioPharma (CTIC), down 7.7%... Civeo (CVEO), down 3.4%. ALSO LOWER: Galena Biopharma (GALE), down 10.4% after announcing public offering of common stock and warrants... Whiting Petroleum (WLL), down 7.6% following a report from Reuters that explains that the company looks to sell certain assets instead of the whole company... Continental Building (CBPX), down 7.5% after 5M share Spot Secondary priced at $19.70.
08:06 EDTAROAeropostale still lacks a path to profitability, says Goldman
Following the Q1 report, Goldman said Aeropostale's fundamentals remain weak and still has no clear path to profitability. The firm said the markdown rate is improving, but is not enough, and negative free cash flow will make renegotiation of its revolver, expiration September 2016, more difficult. Shares are Neutral rated with a $3 price target.
March 12, 2015
19:25 EDTAROOn The Fly: After Hours Movers
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16:11 EDTAROAeropostale down 4.1% after reporting quarterly results
16:10 EDTAROAeropostale plans to open one store, remodel about 13 stores in FY15
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16:09 EDTAROAeropostale sees Q1 EPS (61c)-(53c), may not compare to consensus (36c)
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16:07 EDTAROAeropostale reports Q4 adjusted EPS 1c, consensus (3c)
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15:27 EDTARONotable companies reporting after market close
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10:06 EDTAROHigh option volume stocks
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