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Stock Market & Financial Investment News

News Breaks
June 16, 2014
07:44 EDTANN, TJX, GES, AEO, ROST, ANF, TIF, CHSA&F, Chico's, Guess most attractive LBO candidates, says Jefferies
Jefferies says its analysis shows that Abercrombie & Fitch (ANF), Guess (GES) and Chico's FAS (CHS) are the most attractive leveraged buyout candidates in the Specialty Retailing space. The companies that looked the least attractive were Ross Stores (ROST), TJX (TJX) and Tiffany (TIF). Jefferies believes American Eagle (AEO), Abercrombie & Fitch, Ann Inc (ANN), Chico's and Guess are most likely candidates to be taken private. The firm expects Retailing stocks to perform better in the second half of 2014 and says A&F remains its top pick in the space.
News For ANF;GES;CHS;ROST;TJX;TIF;AEO;ANN From The Last 14 Days
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November 14, 2014
06:23 EDTAEOAmerican Eagle implied volatility of 59 at upper end of index mean range
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05:35 EDTANFAbercrombie & Fitch downgraded to Neutral from Outperform at Credit Suisse
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November 13, 2014
13:22 EDTANNAnn Taylor November volatility elevated into Q3 and holiday sales outlook
Ann Taylor November call option implied volatility is at 55, December is at 37, January and March is at 34; compared to its 26-week average of 33 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 21.
11:49 EDTTJXTJX November volatility increases into Q3 and outlook
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November 12, 2014
10:00 EDTAEOAmerican Eagle rises on raised Q3 guidance, levels to watch
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08:03 EDTAEOAmerican Eagle raises Q3 adjusted EPS view to 22c from 17c-19c
Consensus is 18c. Including restructuring and asset impairment charges of (17c), GAAP earnings are estimated to be 5c per share. Last year, the company earned adjusted EPS of 19c in the third quarter, which excluded asset impairment charges of (6c). The earnings improvement over last year was primarily due to an improvement in markdowns and lower expenses. Third quarter net revenues declined slightly on a comparable sales decline of 5%. The EPS guidance excludes charges of approximately (17c) primarily due to store impairments and corporate overhead reductions related to the company’s profit improvement initiatives. These actions are expected to enable the company to fund key initiatives and generate savings to strengthen future earnings. “Third quarter earnings exceeded our expectations and margins were ahead of last year. We are encouraged by our ability to reduce promotional activity, particularly given the challenging and highly promotional retail climate,” said Jay Schottenstein, Interim CEO. “The team is making steady progress on merchandise improvements. Yet as we approach the holidays, we remain cautious given the ongoing weakness in mall traffic. The restructuring activities reflect our resolve to strengthen our business to deliver higher profitability and returns to shareholders.” Third quarter ending inventories are expected to be down, consistent with prior guidance.
06:00 EDTAEOAmerican Eagle implied volatility of 60 at upper end of index mean range
November 11, 2014
07:49 EDTAEO, CHS, ANF, ANNBofA/Merrill retail and consumer analysts hold analyst/industry conference call
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05:59 EDTAEOAmerican Eagle implied volatility of 60 at upper end of index mean range
November 10, 2014
12:36 EDTANN, ANFAbercrombie, American Eagle sink after analyst downgrades
Shares of specialty teen apparel retailers Abercrombie & Fitch (ANF) and American Eagle Outfitters (AEO) are falling after a number of analysts issued negative notes on the companies. WHAT'S NEW: Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Perform from Outperform. The company's earnings outlook has become less clear as its U.S. brand has not yet become popular, and retail brand turnarounds usually take awhile, Oppenheimer analyst Anna Andreeva wrote in a note to investors. Additionally, Abercrombie's international business, which has deteriorated further this year, faces "mounting uncertainty,” the analyst stated. The analyst slashed her price target on the name to $30 from $50. Meanwhile, Barclays analyst Matthew McClintock downgraded American Eagle Outfitters to Equal Weight from Overweight. McClintock has become more pessimistic about the outlook for American Eagle's comparative store sales in the second half of 2014, given recent data points from a number of retailers, including Abercrombie & Fitch, Kohl's (KSS), Wal-Mart (WMT), J.C. Penney (JCP), and Ann Inc. (ANN). The analyst said he saw no reason why American Eagle should significantly outperform the overall apparel sector. McClintock cut his price target on the name to $11 from $15. Meanwhile, the analyst lowered his rating on the Softline Retail sector to Negative from Positive, as he believes that the sector, which includes companies that sell products like apparel, towels, and jewelry - is facing structural difficulties that are likely to persist for the next several years. Separately, research firm Janney Capital downgraded Abercrombie to Neutral from Buy in a note to investors today. PRICE ACTION: In early afternoon trading, Abercrombie & Fitch sank 3.5% to $28.50 and American Eagle dropped 4% to $12.40.
10:04 EDTAEO, ANFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
07:50 EDTANFAbercrombie & Fitch downgraded at Oppenheimer
As noted earlier, Oppenheimer downgraded to Abercrombie & Fitch Perform from Outperform. The firm downgraded the stock, citing lack of visibility, following the company's negative preannouncement. Target to $30 from $50.
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 EDTANN, ANF, AEOU.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.
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