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Stock Market & Financial Investment News

News Breaks
January 10, 2014
10:39 EDTTLYS, APP, GPS, AEO, ANFAbercrombie & Fitch rallies after raising full year profit view
Shares of casual apparel retailer Abercrombie & Fitch (ANF) are rallying after the company raised its full year adjusted profit view. WHAT'S NEW: Last night, Abercrombie & Fitch reported its fourth quarter comparable sales for the nine weeks ended January 4, including direct-to-consumer sales, decreased 6%. However, based on higher than expected sales for the fourth quarter-to-date, and ongoing cost reduction efforts, the company raised its full year adjusted earnings per share view to $1.55-$1.65 from its prior guidance of $1.40-$1.50. The consensus forecast of analysts prior to the company update was $1.47. ANALYST REACTION: This morning, analyst commentary was positive on A&F. Research firm Janney Capital upgraded Abercrombie to Buy from Neutral with a price target of $49. Another firm, Wells Fargo, increased its price target on the stock to $37-$39 from $33-$36, but kept a Market Perform rating on the shares. Brean Capital said it remained a buyer of Abercrombie & Fitch’s shares. Brean rates the shares a Buy with a $48 price target. PRICE ACTION: In early trading, Abercrombie & Fitch rose $3.86, or 11.6%, to $37.07 on twice its average daily trading volume. However, over the past twelve months, the shares are down about 24%. OTHERS TO WATCH: Abercrombie’s competitors include American Eagle Outfitters (AEO), American Apparel (APP), and Tilly’s (TLYS). Another Abercrombie competitor, The Gap (GPS), reported last night that its comparable sales in the months of November and December grew 1% and that, given the holiday performance, the company is "comfortable" delivering at the high end of its prior full-year earnings per share guidance range. Gap shares are up 0.8% to $39.75 after its own holiday sales update.
News For ANF;AEO;GPS;APP;TLYS From The Last 14 Days
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July 29, 2015
06:04 EDTAEOAeropostale downgraded to Sell from Neutral at UBS
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July 28, 2015
19:40 EDTANFJudge rules lawsuit against Abercrombie & Fitch as 'class action', BI says
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July 27, 2015
19:31 EDTANFAbercrombie & Fitch to debut 'athleisure' clothing line, Racked says
Abercrombie & Fitch plans to debut a women's "athleisure" or activewear clothing line on July 29, reports Racked, citing company statements. Reference Link
07:22 EDTAPPAmerican Apparel close to bankruptcy, NY Post reports
American Apparel is on the brink of bankruptcy, the New York Post reports. The retailer is currently short on cash reserves and faces a large bond payment in less than three months, all in addition to piling legal bills over the Dov Charney lawsuit over alleged sexual harassment, the report says. Investors are bracing themselves for all-out bankruptcy when the company releases its quarterly earnings, the report adds. Reference Link
July 23, 2015
07:43 EDTAEO, ANFStephens to hold a tour
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July 21, 2015
06:07 EDTGPSONUG: Yahoo hires VP of global network from Symantec
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