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Stock Market & Financial Investment News

News Breaks
February 1, 2013
12:04 EDTFSLR, ANFStocks with call strike movement; FSLR ANF
First Solar (FSLR) April 33 call volatility decreased 3% to 54, Abercrombie & Fitch (ANF) March 57 call option implied volatility increased 5% to 53 according to iVolatility.
News For ANF;FSLR From The Last 14 Days
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May 28, 2015
07:37 EDTANFAbercrombie & Fitch sees sequential SSS improvement into Q2, 2H
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07:34 EDTANFAbercrombie & Fitch reports Q1 EPS ex-items (53c), consensus (34c)
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May 27, 2015
16:03 EDTANFOptions Update; May 27, 2015
iPath S&P 500 VIX Short-Term Futures down 82c to 18.56 Option volume leaders: AAPL KORS BRCM MCD FB MNKD AAL YHOO BAC MU ANF S EOX
15:48 EDTANFAbercrombie & Fitch May 19.5 straddle priced for 10% movement into Q1
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15:30 EDTANFNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Toronto-Dominion Bank (TD), consensus $1.11... Signet Jewelers (SIG), consensus $1.63... Flowers Foods (FLO), consensus 30c... Tech Data (TECD), consensus 71c... Sanderson Farms (SAFM), consensus $3.32... Express (EXPR), consensus 14c... Abercrombie & Fitch (ANF), consensus (34c)... Descartes Systems Group (DSGX), consensus 6c... JinkoSolar (JKS), consensus 40c... Fred's (FRED), consensus (1c)... Xcerra (XCRA), consensus 7c... Titan Machinery (TITN), consensus (22c).
12:38 EDTANFOptions with increasing volume
Options with increasing volume: PG CONN NQ S JNPR MNST ANF
11:18 EDTANFEarnings Watch: Abercrombie could provide 'depressing' guidance, analyst says
Abercrombie & Fitch (ANF) is scheduled to report first quarter earnings before the market open on Thursday, May 28 with a conference call scheduled for 8:30 am EDT. Abercrombie & Fitch is a retailer of casual apparel for men, women and kids. EXPECTATIONS: Analysts are looking for a loss per share of (34c) on revenue of $730.91M, according to First Call. The consensus range for EPS is (60c)-(12c) on revenue of $685.26M-$788M. LAST QUARTER: Abercrombie & Fitch reported fourth quarter adjusted earnings per share of $1.15 on revenue of $1.12B, against estimates for $1.15 and $1.17B, respectively. Comparable store sales declined 10% during the quarter. Abercrombie & Fitch said that as it gets greater visibility to the timing and impact of its on-going strategic initiatives, it expects to resume providing EPS and SSS guidance guidance. Regarding SSS, the company said it expects the negative impact from reduced logo sales to modestly abate in the first half of the fiscal year and neutralize in the second half of the fiscal year. Abercrombie said the first half of FY15 would be "challenging" and forecast significant headwinds from foreign currency in FY15. NEWS: At the Telsey Advisory Group's Spring Consumer Conference in March, Abercrombie reiterated its forecast for "significant" foreign currency headwinds in 2015. The company said it was "fully aware" of the challenges the company is facing and was on the "right path" to improve profitability. Abercrombie forecast FY15 capital expenditures of approximately $150M and forecast continued pressure from reduced logos and gross margin flat to slightly up. The retailer said it views ongoing expense reduction as a "way of life" going forward. During the quarter, Bloomberg reported that Abercrombie & Fitch will retire its "appearance and sense of style" hiring rule for employees. Abercrombie brand President Christos Angelides and Hollister brand President Fran Horowitz said the changes to the dress code are part of their plan to cater to more shoppers. New York Attorney General Eric Schneiderman sent letters to Abercrombie and other retailers in April over staffing practices and whether the company requires workers to show up or stay home with little notice, according to The Wall Street Journal. STREET RESEARCH: During the quarter, Abercrombie & Fitch was initiated at BB&T with a Hold rating and with an Underperform rating and $17 target at RBC Capital. Wunderlich expects A&F's results will be a "very painful slog" for shareholders, adding that if the company does give guidance, "expect it to be depressing." The firm, which cut its price target for shares to $15 from $17 and reiterated a Sell rating, believes a turnaround is not in sight. PRICE ACTION: Abercrombie & Fitch shares slid 1% to $19.88 in morning trading, putting the stock down about 19.5% over the last three months.
10:58 EDTANFAbercrombie & Fitch May weekly volatility elevated into Q1 and outlook
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May 26, 2015
16:20 EDTFSLROn The Fly: Top stock stories for Tuesday
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15:23 EDTFSLRRBC says sell First Solar as earnings power overestimated
RBC Capital cut its rating on solar energy company First Solar (FSLR) to Underperform, its equivalent of a "sell" rating, in a note to investors earlier today. WHAT'S NEW: First Solar's earnings power is significantly below analysts' consensus estimate and the company's guidance, RBC Capital analyst Mahesh Sanganeria wrote. The company's profits will be limited due to the lower selling prices of its modules and its declining gross margin, the analyst stated. Moreover, even if demand for modules is very strong, First Solar's sales will be limited by its capacity, Sanganeria contended. Furthermore, First Solar's cost advantage over competing modules has eroded and may disappear completely, partly due to significant declines in polysilicon prices and manufacturing efficiency improvements, the analyst stated. Sanganeria downgraded the shares to Underperform from Sector Perform and lowered the price target on the stock to $34 from $54. WHAT'S NOTABLE: In contrast, UBS was upbeat on the outlook for another name in the solar sector, SunEdison (SUNE), in its own note to investors today. SunEdison is may begin paying a dividend and could expand into Canadian renewable projects, UBS analyst Julien Dumoulin-Smith wrote. The company may acquire Canadian assets for relatively cheap prices, said Dumoulin-Smith, who kept a $32 price target and Buy rating on SunEdison. PRICE ACTION: In afternoon trading, First Solar dropped 6.7% to $51.41 and SunEdison slipped 1.7% to $30.14. CORRECTION: This story corrects an earlier one to clarify that 8point3 Energy Partners is a growth-oriented limited partnership formed by First Solar and SunPower (SPWR) to own, operate and acquire solar energy generation projects. TerraForm Global is the diversified, dividend growth-oriented company formed to acquire clean energy generation assets from SunEdison.
13:22 EDTFSLRFirst Solar May weekly volatility low on pullback
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12:35 EDTFSLROn The Fly: Top stock stories at midday
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11:58 EDTFSLRFirst Solar trades near session lows, levels to watch
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09:58 EDTFSLROn The Fly: Analyst Downgrade Summary
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09:23 EDTFSLROn The Fly: Pre-market Movers
UP AFTER EARNINGS: AutoZone (AZO), up marginally after reporting third quarter results. ALSO HIGHER: Geeknet (GKNT), up 119.7% after being acquired by Hot Topic for $17.50 per share... IntelliPharmaCeutics (IPCI), up 16.8% after being granted fast track designation for Rexista Oxycodone by FDA... McDermott (MDR), up 9.2% after favorable mention in Barron's and after being awarded a project for 12 jackets offshore Saudi Arabia... Time Warner Cable (TWC), up 5.2% following announcement of merger with Charter (CHTR)... Charter is up fractionally. DOWN AFTER EARNINGS: Sky-mobi (MOBI), down 7.9%. ALSO LOWER: Etsy (ETSY), down 5.7% following a Wall Street Journal report that Amazon.com (AMZN) is targeting Etsy with an artisan goods marketplace... First Solar (FSLR), down 4.1% after being downgraded to Underperform from Sector Perform at RBC Capital... AstraZeneca (AZN), down 1.9% after Amgen (AMGN) ends participation in co-development and commercialization of brodalumab... Amgen is down 1.5%.
07:56 EDTANFWunderlich sees Abercrombie Q1 as 'very painful slog'
Wunderlich expects Abercrombie & Fitch's Q1 results on Thursday to be a "very painful slog" for investors. If management does provide guidance, "expect it to be depressing," Wunderlich tells investors in a research note. The firm believes a turnaround is not in sight and points to mounting currency headwinds and a "weak" teen apparel environment. It lowered its price target for A&F shares to $15 from $17 and reiterates a Sell rating on the name.
06:46 EDTFSLRFirst Solar downgraded to Underperform from Sector Perform at RBC Capital
RBC Capital downgraded First Solar to Underperform and lowered its price target on the stock to $34 from $54. The firm believes First Solar's cost advantage over C-Si module producers is diminishing and that its earnings power is significantly below previous guidance and consensus. RBC Capital rolled out 2016 estimates of $1.37/$3.4B, versus consensus of $3.48/$4.1B and guidance of $3.50-$5.00/$3.8B-$4.5B. The firm sees limited upside to its estimates given First Solar's high exposure to utility scale projects and long-lead time and development cycles, combined with lower ASPs and gross margins to third-party module estimates.
May 22, 2015
08:56 EDTFSLRJefferies to hold a field trip
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May 21, 2015
12:01 EDTFSLRSouthern Company subsidiary acquires 103-MW Georgia solar project
Southern Company (SO) subsidiary Southern Power acquired the 103-megawatt Butler solar facility from Community Energy in Georgia. The project, which was initially developed by Community Energy was selected by Southern Company subsidiary Georgia Power in a competitive process through the nationally recognized Georgia Power Advanced Solar Initiative. The facility, which will be located on approximately 1,070 acres in Taylor County, Georgia, is expected to enter commercial operation in the fourth quarter of 2016. Construction is slated to begin in September 2015, with First Solar (FSLR) managing the building, operations and maintenance of the facility. The Butler solar facility is expected to consist of more than 1 million of First Solar's thin-film photovoltaic solar modules mounted on single-axis tracking tables. The electricity and associated renewable energy credits generated by the facility will be sold under a 30-year power purchase agreement with Georgia Power, which will have the option to keep or sell the RECs, for the benefit of its customers or renewable energy programs.
May 18, 2015
20:16 EDTANFUrban Outfitters down over 16% after disappointing Q1 results
Urban Oufitters (URBN) is down sharply after reporting first quarter earnings per share and revenue that missed analyst estimates. WHAT'S NEW: Urban Oufitters reported Q1 EPS of 25c on revenue of $739.01M, below consensus expectations of 30c and $758.25M, respectively. Urban Outfitters also reported Q1 comparable retail segment net sales up 4%, with Q1 retail segment net sales increasing 17% at Free People, 5% at Urban Outfitters, and 1% at the Anthropologie Group. Wholesale segment net sales rose 18%. WHAT'S NOTABLE: On its Q1 earnings conference call, Urban Outfitters announced that Urban Outfitters Group CEO Ted Marlow, who oversaw the direction of the namesake brand, would retire at the end of August. While Urban Outfitters did not provide guidance, Urban Outfitters Anthropologie Group CEO David McCreight commented on the Anthropologie brand, "We're expecting we could see Q2 shaping up like Q1 in terms of low single-digit comps. We could also see being in the low-mid-single digit comps. It's hard to tell at this point." ANALYST REACTION: Two analyst firms lowered their respective price targets on Urban Outfitters following the company's earnings report. Sterne Agee, which rates Urban Outfitters a Neutral, lowered its 12-month price target to $34 from $46, noting the company has had trouble getting both its Urban Outfitters and Anthropologie brands to perform at the same time. Cantor, which maintained its Buy rating, lowered its price target to $53 from $54, saying that Anthropologie sales disappointed, but noting that a "later catalog release appears to us to have pushed some sales at Anthropologie into May." PRICE ACTION: Urban Outfitters fell 16.4% to just over $34 in after-hours trading. PEERS: Other publicly traded companies in the space include Abercrombie & Fitch (ANF), American Eagle (AEO), Five Below (FIVE), Pacific Sunwear (PSUN), and Zumiez (ZUMZ).
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