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Stock Market & Financial Investment News

News Breaks
August 12, 2014
12:31 EDTAEO, ANF, URBN, AROAbercrombie upgraded at Stifel citing better assortment, trimmed costs
Shares of Abercrombie & Fitch (ANF) were upgraded by research firm Stifel this morning, though the retailer's shares are slightly lower in early afternoon trading. WHAT'S NEW: Stifel analyst Richard Jaffe upgraded Abercrombie & Fitch to Buy from Hold, citing the retailer's better merchandise assortment and reshaped cost structure. Jaffe feels that Abercrombie & Fitch had been running with overblown expenses and believes that having a slimmer cost structure will allow the company to influence sales better and boost future EPS. The analyst raised his Q4 EPS estimate to $1.94 from $1.87, his FY14 EPS estimate to $2.50 from $2.43 and his FY15 EPS estimate to $3.40 from $3.14. Over the next year, Jaffe said that he expects A&F shares will be valued for the company's effort to win back customers at its Hollister and Abercrombie stores. Still, he said that Q3 could continue to be a struggle for the retailer due to external obstacles that are still a headwind. The firm maintains a $50 price target on the retailer's shares. WHAT'S NOTABLE: Analysts at Wunderlich also initiated coverage of the stock this morning with a Buy rating and a $48 price target. PRICE ACTION: During early afternoon trading, shares of Abercrombie & Fitch fell 9c, or 0.2%, to $41.47. OTHERS TO WATCH: Rivals to Abercrombie & Fitch include Aeropostale (ARO), Urban Outfitters (URBN), and American Eagle Outfitters (AEO).
News For ANF;ARO;URBN;AEO From The Last 14 Days
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November 10, 2014
07:22 EDTAEOU.S. Retail Softlines sector downgraded to Negative at Barclays
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07:11 EDTAEOOpen Mobile Media to hold a summit
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06:34 EDTANFAbercrombie & Fitch downgraded to Neutral from Buy at Janney Capital
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06:16 EDTAEOAmerican Eagle downgraded to Neutral from Buy at B. Riley
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05:54 EDTAEOStocks with implied volatility movement; WFM AEO
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05:48 EDTAEO, URBN, ANFU.S. Retail Softlines industry cut to Negative at Barclays
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05:40 EDTANFAbercrombie & Fitch downgraded to Perform from Outperform at Oppenheimer
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05:36 EDTAEOAmerican Eagle downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded American Eagle to Equal Weight after reducing its outlook for the retail industry. The firm says its industry data suggests substantial risk to its sales expectations for American Eagle. Barclays lowered its price target for shares to $11 from $15.
November 7, 2014
13:32 EDTANFAbercrombie & Fitch downgraded to Hold from Buy at Stifel
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11:58 EDTANFAbercrombie & Fitch downgraded to Neutral from Buy at Mizuho
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10:09 EDTANFAbercrombie & Fitch downgraded to Hold from Buy at Wunderlich
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10:00 EDTURBNOn The Fly: Analyst Initiation Summary
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09:16 EDTANFOn The Fly: Pre-market Movers
HIGHER: Sears (SHLD), up 22.5% after reporting Q3 same-store sales were flat with prior year, saying company is actively exploring a REIT transaction involving 200-300 owned properties through a rights offering... Gap (GPS), up 2.9% after reporting October same-store sales fell 3%, giving Q3 EPS guidance that beat estimates... Zynga (ZNGA), up 9%, upgraded at Needham following the company's Q3 earnings report... King Digital (KING), up 8.6% after Q3 results top expectations, company announces $150M share repurchase program... ChannelAdvisor (ECOM), up 30% after earnings, guidance, announcing acquisition of U.K. based E-Tale Holdings... Rockwell Medical (RMTI), up 25% after FDA committee recommends Triferic to treat iron loss in certain patients with chronic kidney disease... Repros Therapeutics (RPRX), up 23% following meeting with FDA regarding Androxal NDA filing. LOWER: Salix (SLXP), down 35%, downgraded at Mizuho, Stifel and William Blair after the company reported worse than expected Q3 earnings, gave lower than expected guidance and announced its CFO had resigned... Intercept (ICPT), down 19% after FLINT trial results published... CTI BioPharma (CTIC), down 20% after filing convertible preferred stock offering... Transocean (RIG), down 5% after delaying its Q3 earnings release and conference call, stating the company expects Q3 to include a non-cash charge of $1.97B for impairment of goodwill... General Mills (GIS), down 4% after lowering FY15 outlook. DOWN AFTER EARNINGS: Abercrombie & Fitch (ANF), down 12.6%... Ubiquiti Networks (UBNT), down 17%... Arista Networks (ANET), down 10.5%... First Solar (FSLR), down 6%... Magnum Hunter (MHR), down 2%.
08:11 EDTANFAbercrombie & Fitch drops 14% to $30.50 after Q3 business update
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08:09 EDTANFAbercrombie & Fitch says 'reviewing measures' to improve Q4 results
A&F said, "In the short term, we are reviewing measures to drive improvement in our results in the critical fourth quarter. Longer term, we continue to believe we are taking the right steps strategically to position the company for future improvements in our performance. This includes the completion of our move to a branded structure, strategic investments in Asia and in our Direct to Consumer business, shifting our assortment in line with consumer preferences, re-engaging with our customer through store re-design and marketing initiatives, continuing to close underperforming U.S. stores, and continuing to reduce expenses. We will provide a more extensive update on our quarterly earnings call."
08:09 EDTANFAbercrombie & Fitch sees Q3 EPS 40c-42c, consensus 67c
It said, "Sales during the quarter were below expectations with comparable sales in September and October being significantly weaker than August. Although the international stores segment was the most difficult, the lower sales trend was broadly based. In addition, the Company now expects modest gross margin rate erosion for the quarter compared to last year, given the highly promotional and challenging environment. The effect of lower sales and gross margins will be partially offset by continued significant expense reductions. The Company's results for the quarter were also adversely impacted by the strengthening of the U.S. dollar."
08:08 EDTANFAbercrombie & Fitch says 'clearly disappointed' with Q3 results
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08:07 EDTANFAbercrombie & Fitch reports Q3 sales $911.4M consenus $982.24M
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November 6, 2014
17:14 EDTURBNUrban Outfitters initiated with a Buy at Brean Capital
Target $40.
08:04 EDTANFBofA/Merrill retail analysts hold an analyst/industry conference call
Retail Analysts Hutchinson, Ohmes and Chai hold an October Retail Update Analyst/Industry conference call on November 6 at 1 pm.
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