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Stock Market & Financial Investment News

News Breaks
August 25, 2014
06:15 EDTANNEngine Capital, Red Alder urge Ann Inc. to explore strategic alternatives
Engine Capital, together with its affiliates, and Red Alder, who collectively own in excess of 1% of the outstanding shares of ANN Inc., announced that they have delivered a letter to the board of ANN. The letter states that the company is deeply undervalued and that opportunities exist to close the significant valuation gap and unlock shareholder value, including the sale of the company. The letter also stated that ANN could be conservatively worth between $50-$55 per share to a third party acquirer in a sale.
News For ANN From The Last 14 Days
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March 4, 2015
12:49 EDTANNAnn Inc. could be valued at $50-$62 at historical takeout multiple, says Mizuho
After Reuters said two private equity firms were competing to buy Ann Inc., Mizuho said historical takeout multiples in softlines could see the company valued at $50-$62 per share. Assuming a discount from historical averages, the stock could still be valued at $38-$44 in a takeout scenario, the firm calculated. Mizuho has a Buy rating and $45 price target on Ann Inc. shares.
10:39 EDTANNAnn Inc. being eyed by multiple private equity suitors, Reuters says
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10:28 EDTANNAnn Inc. jumps 4.6% after Reuters report on interest from multiple PE firms
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10:27 EDTANNBain, Golden Gate, vying to buy Ann Inc., Reuters says
March 3, 2015
10:22 EDTANNGoldman sees weakness ahead for specialty apparel retailers
The stocks of specialty apparel retailers could drop sharply as a result of the cold February weather and bottlenecks at West Coast ports, Goldman Sachs wrote in a note to investors today. WHAT'S NEW: The cold February and port delays will probably cause specialty retailers to report lower than expected profits for the first half of 2015, Goldman analyst Lindsay Drucker Mann forecast. As a result of these factors, the inventories of companies in the sector will probably be backed up all the way to Easter, wrote Mann, adding that foreign exchange fluctuations are also likely to weigh on specialty retailers' profits. The analyst cut her rating on PVH Corp. (PVH) two notches to Neutral from Conviction Buy, predicting that the company's profits would take longer to recover than she previously believed. Among specialty retail stocks, Mann is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN), and Ann Inc. (ANN). She maintained Sell ratings on all three names. The analyst predicted that American Eagle's (AEO) stock could fall further, and maintained a Neutral rating on those shares. WHAT'S NOTABLE: On February 26, Morgan Stanley downgraded Abercrombie & Fitch, citing skepticism about the turnaround prospects of its international business and negative foreign exchange trends. The firm predicted that the company's fiscal 2015 EPS guidance would come in below expectations. However, two firms were recently upbeat on American Eagle, with BMO Capital identifying the company as its favorite name for spring, stating that it expects American Eagle to benefit from the 70s fashion trend. Also, BB&T recently initiated the stock with a Buy rating. PRICE ACTION: In early trading, PVH fell 1.4% to $105.23, Abercrombie & Fitch lost 1.6% to $24, Francesca's declined 2% to $14.62, Ann slid 1.1% to $35.36, and American Eagle lost 1% to $14.80.
05:57 EDTANNPVH Corp. downgraded to Neutral from Conviction Buy at Goldman
Goldman Sachs downgraded PVH Corp. (PVH) to Neutral from Conviction Buy saying a cold February and port-related product delays in March will push out the company's earnings recovery. Goldman cut its price target for the owner of Calvin Klein and Tommy Hilfiger to $109 from $143. The stock closed Monday up 21c to $106.74. Within the Specialty Apparel space, Goldman is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN) and Ann Inc. (ANN), and it sees "fresh downside risk" to American Eagle (AEO). It says the weather and port issues could "throw cold water on the Specialty rally."
February 20, 2015
12:49 EDTANNOn The Fly: Midday Wrap
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10:01 EDTANNOn The Fly: Analyst Downgrade Summary
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08:13 EDTANNAnn Inc. downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Ann Inc to Neutral based on gross margin concerns. The firm sees incremental shipping costs due to the West Coast situation and promotional activity pressuring results. Price target is $37.
06:03 EDTANNAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
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05:54 EDTANNAnn Inc. volatility up into working with JPMorgan on potential sale, report
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February 19, 2015
17:58 EDTANNAnn Inc. working with JPMorgan on potential sale, Bloomberg says

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