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Stock Market & Financial Investment News

News Breaks
March 14, 2014
10:37 EDTASNA, CACH, ANN, CWTRAnn Inc. advances after results, strategic realignment announcement
Shares of women's specialty retailer Ann Inc. (ANN) are higher this morning after the company reported fourth quarter results that beat expectations and announced a strategic realignment. WHAT'S NEW: Ann Inc. reported Q4 earnings per share of 10c, which topped analysts’ consensus estimate of 7c. The company's revenue came in nearly in-line with the consensus forecast. Ann Taylor brand sales were $246.2M, while Loft brand sales were $377.1M in Q1. Total same store sales for the quarter increased 2.9%, with Ann Taylor brand SSS down 1.1% and LOFT brand SSS up 5.7%. Looking ahead, the retailer forecast first quarter revenue of $600M, SSS approximately flat and gross margin rate performance of 55%. The consensus forecast of analysts for Q1 revenue prior to the report was just over $613M. For fiscal year 2014, the company sees revenue of $2.62B, compared to estimates for $2.64B, and SSS up in the low-single digits. WHAT'S NOTABLE: The retailer announced an organizational strategic realignment in a move to support an integrated stores/ecommerce structure and position the company for accelerated growth and efficiency. As a result of the realignment, the company said it eliminated about 100 positions from its corporate workforce. The company expects to record a pre-tax restructuring charge of approximately $15M in connection with the realignment, most of which will be incurred in Q1. The realignment is expected to result in ongoing annualized pre-tax operating savings of about $25M, and the company sees $15M of this realized in FY14. Chief Executive Officer Kay Krill also announced that Gary Muto was named as president of Ann Inc. Brands. Krill said on the earnings conference call that omnichannel will continue to be a key focus for the company. Krill noted that the company will move forward with plans to enter Mexico with the LOFT brand in the second half of 2014. The executive said that Q1 is "off to a choppy start," adding that "some weeks are good, some weeks are softer." The company will take a "cautious" approach to the quarter given extreme weather conditions, heightened promotional environment and soft traffic. PRICE ACTION: Ann Inc is trading up 4.45%, to $36.43 in mid-morning trading. OTHERS TO WATCH: Shares of Ann Inc. peer Ascena Retail (ASNA) is up about 0.5%, ColdWater Creek (CWTR) is up 2.6% and Cache (CACH) is up fractionally.
News For ANN;ASNA;CWTR;CACH From The Last 14 Days
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May 19, 2015
07:26 EDTASNA, ANNAscena Retail weakness creates buying opportunity, says SunTrust
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07:20 EDTANN, ASNAAscena Retail upgraded to Outperform from Market Perform at FBR Capital
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06:47 EDTANN, ASNAAscena Retail pullback a buying opportunity, says Piper Jaffray
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05:51 EDTANN, ASNAAnn Inc. downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Ann Inc. to Neutral with a $47 price target to reflect the acquisition by Ascena Retail (ASNA).
May 18, 2015
16:21 EDTASNA, ANNOn The Fly: Top stock stories for Monday
Stocks on Wall Street advanced in Monday trading, sending the Dow Jones Industrial Average and the S&P 500 to new all-time closing highs. The early part of the day saw the market move in a narrow range, but by early afternoon the market punched through its upper range and moved to session highs. The market drifted throughout the afternoon as the news flow was quiet and the trading volume remained light. ECONOMIC EVENTS: In the U.S., the National Association of Home Builders’ confidence index fell 2 points to a reading of 54 in May, missing expectations for a 1 point increase to a reading of 57. COMPANY NEWS: Shares of Apple (AAPL) advanced $1.47, or 1.14%, to $130.24 after noted investor Carl Icahn stated in an open letter to the company's CEO that he thinks other investors, analysts and the news media continue to misunderstand Apple and that its stock is "worth $240 today." Icahn urged Apple CEO Tim Cook to take advantage by launching a "much larger buyback" of the iPhone maker's shares. Separately, FBR Capital analysts Daniel Ives and James Moore wrote this morning in a note to investors that the Street is still underestimating Apple's growth outlook in China. The analysts believe that Apple's China revenue will exceed its revenue from the Americas in fiscal 2017... Endo International (ENDP) slid $4.53, or 5.31%, to $80.82 after the company agreed to pay $8B for privately held Par Pharmaceutical, which will roughly double Endo’s generics revenue and place its generics business among the top five as measured by U.S. sales. MAJOR MOVERS: Among the notable gainers was Ann Inc. (ANN), which surged $7.69, or 19.87%, to $46.40 after agreeing to be acquired by Ascena Retail Group (ASNA) for about $2.15B in cash and stock. Ascena, which agreed to pay $37.34 in cash and 0.68 of a share of its own common stock in exchange for each share of the parent of the Ann Taylor brand, slipped 14c, or 0.99%, to $14.07 after announcing the deal. Also higher was Achillion (ACHN), which rose $1.41, or 14.79%, to $10.98 after the company cancelled its presentation at the UBS Global Healthcare Conference. Conference cancellations often generate speculation as to whether a company is engaged in merger or acquisition talks. Among the noteworthy losers was Eleven Biotherapeutics (EBIO), which dropped $8.29, or 69.26%, to $3.68 after announcing the company’s Phase 3 study of its lead drug candidate, EBI-005, in moderate to severe dry eye disease did not meet either of its two co-primary endpoints. Also lower were shares of Weibo (WB), which fell 87c, or 5.24%, to $15.73 after the shares were downgraded to Hold from Buy at Summit Research. INDEXES: The Dow rose 26.32, or 0.14%, to 18,298.88, the Nasdaq gained 30.15, or 0.6%, to 5,078.44, and the S&P 500 added 6.47, or 0.3%, to 2,129.20.
13:55 EDTANN, ASNAAnn Inc. downgraded to Neutral from Buy at Janney Capital
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12:51 EDTANN, ASNAOn The Fly: Top stock stories at midday
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10:10 EDTANN, ASNAHigh option volume stocks
High option volume stocks: ASNA LAZ GTI CBRL ANN ISSI ANET HTS URBN LVLT
09:49 EDTANNEquity options with increasing volume
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09:33 EDTANN, ASNAAscena Retail acquisition of Ann Inc. a positive, says CL King
09:25 EDTASNA, ANNOn The Fly: Pre-market Movers
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08:50 EDTASNA, ANNAscena CEO says views Ann Taylor, Loft as two distinct brands
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08:39 EDTANN, ASNAAnn Inc. CEO says Ascena deal the 'right outcome for stockholders'
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08:01 EDTANN, ASNAANN volatility elevated into Ascena Retail acquiring for $47
ANN (ANN) June call option implied volatility is at 42, September is at 31; compared to its 90-day average of 34; suggesting large near term price movement into a ascena retail (ASNA) paying ANN stockholders $37.34 in cash and 0.68 of a share of ascena common stock.
07:50 EDTANN, ASNAAscena Retail volatility elevated into acquiring Ann Inc.
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07:48 EDTANN, ASNAAscena Retail and Ann Inc. to host conference call
Conference call to discuss merger agreement under which ascena will acquire ANN INC will be held on May 18 at 8:30 am. Webcast Link
07:40 EDTANN, ASNAAscena Retail expects Ann. Inc acquisition to be significantly accretive to EPS
Excluding transaction and integration expenses, the acquisition is expected to be significantly accretive to EPS in the first year post closing, accelerating to greater than 20% accretion to EPS thereafter. Additionally, ascena expects the combination to generate significant cash flow while both maintaining appropriate levels of capital expenditures and enabling rapid deleveraging.
07:40 EDTASNA, ANNAnn Inc. rises 19% to $46 after agreeing to be acquired by Ascena Retail
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07:35 EDTANN, ASNAAscena Retail to acquire Ann Inc. for $47 per share
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07:35 EDTASNA, ANNAscena Retail to acquire Ann Inc. for $47 per share
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