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Stock Market & Financial Investment News

News Breaks
January 10, 2014
10:39 EDTTLYS, APP, AEO, ANF, GPSAbercrombie & 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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December 16, 2014
18:19 EDTAPPOn The Fly: After Hours Movers
UP AFTER EARNINGS: Dave & Buster's (PLAY), up 7.3%... Darden Restaurants (DRI), up 1.6%. ALSO HIGHER: Auspex Pharmaceuticals (ASPX), up 66.5% after Phase 3 trial of SD-809 met primary efficacy endpoint... Cerus (CERS), up 26.6% after FDA approves Intercept Blood System... American Apparel (APP), up 8.6% after terminating Dov Charney for cause. DOWN AFTER EARNINGS: Heico (HEI), down 1%. ALSO LOWER: Cliffs Natural (CLF), down 10% after price target cut to $1 from $10 at Credit Suisse... Linn Energy (LINE), down 3% after being downgraded to Neutral from Outperform at RW Baird.
16:13 EDTAPPAmerican Apparel terminates Charney for cause, names Schneider as CEO
The board of directors of American Apparel announced that it has appointed Paula Schneider as CEO, effective January 5. This appointment follows the termination of Dov Charney, former President and CEO, for cause in accordance with the terms of his employment agreement. Scott Brubaker, who has been serving as Interim CEO, will continue in the post until Schneider joins the company, after which he will remain as a consultant to ensure an orderly transition. Charney was suspended as president and CEO by the Board on June 18 for alleged misconduct and violations of company policy. Under terms of an agreement signed by Charney on July 9, a special committee of the board oversaw an internal investigation conducted by FTI Consulting into the allegations against Charney. Based on this investigation, the special committee determined that it would not be appropriate for Charney to be reinstated as CEO or an officer or employee of the company. While under suspension as CEO, Charney had been serving as a consultant to the Company. This relationship has now been terminated.
16:12 EDTAPPAmerican Apparel terminates Dov Charney for cause
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10:38 EDTGPSGap coverage transferred with a Market Perform at Cowen
Target $46.
08:48 EDTANFAbercrombie & Fitch signs license agreement with Inter Parfums
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December 12, 2014
09:57 EDTANFAbercrombie & Fitch calls active on renewed takeover chatter
Abercrombie & Fitch December 27 and 28 calls are active on total call volume of 3,300 contracts (250 puts) on renewed takeover chatter. December call option implied volatility is at 47, January is at 44, February is at 45; compared to its 26-week average of 44 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
09:50 EDTANFRumor: Abercrombie & Fitch moves up on renewed takeover chatter
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06:12 EDTAEOStocks with implied volatility below IV index mean; AEO CBST
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December 11, 2014
10:24 EDTAEOOptions with decreasing implied volatility
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08:48 EDTANFAbercrombie an 'extremely attractive' takeover candidate, says FBR Capital
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December 10, 2014
10:20 EDTAEOOptions with decreasing implied volatility
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10:00 EDTAEOOn The Fly: Analyst Upgrade Summary
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08:47 EDTAEOAmerican Eagle upgraded at BMO Capital
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06:11 EDTAEOAmerican Eagle upgraded to Outperform from Market Perform at BMO Capital
December 9, 2014
17:49 EDTANFAbercrombie & Fitch still not a 'buy', Barron's says
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10:23 EDTAEOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Outperform from Perform at Oppenheimer... Concho Resources (CXO) upgraded to Outperform from Neutral at Macquarie... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at FBR Capital... LHC Group (LHCG) upgraded to Outperform from Underperform at Credit Suisse... Lincoln Electric (LECO) upgraded to Buy from Neutral at Longbow... Northeast Utilities (NU) upgraded to Outperform from Neutral at Macquarie... SM Energy (SM) upgraded to Outperform from Neutral at Macquarie... Volcano (VOLC) upgraded at Needham... Wells Fargo sees fewer distractions for lululemon (LULU), upgrades shares... Xcel Energy (XEL) upgraded to Outperform from Neutral at Macquarie... lululemon (LULU) upgraded to Outperform from Market Perform at Wells Fargo.
08:50 EDTANFAbercrombie & Fitch CEO Michael Jeffries to retire
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08:48 EDTANFAbercrombie & Fitch CEO to retire
05:56 EDTAEOAmerican Eagle upgraded to Outperform from Perform at Oppenheimer
Oppenheimer upgraded American Eagle to Outperform with a $14 price target.
December 8, 2014
10:20 EDTANF, AEOOptions with decreasing implied volatility
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