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November 28, 2012
18:10 EDTHERO, ARO, SMTC, LZB, DIS, BLOX, TIVO, GESOn The Fly: After Hours Movers
UP AFTER EARNINGS: Infoblox (BLOX), up 17%... Semtech (SMTC), up 8%... Guess? (GES), up 5%... ALSO HIGHER: Disney (DIS), up 1% after raising its annual dividend 25%... DOWN AFTER EARNINGS: Aeropostale (ARO), down 7%... TiVo (TIVO), down 4%... La-Z-Boy (LZB), down 13%... ALSO LOWER: Hercules Offshore (HERO), down 2% after disclosing it is owed $44M on a customer contract.
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October 9, 2015
11:32 EDTGESGap sinks to 52-week low after September SSS fall 1%
Shares of casual apparel retailer GAP (GPS) are sinking after the company's September same-store sales fell 1%. WHAT'S NEW: After the close on Thursday, Gap reported that net sales for the five-week period ended October 3 decreased 1% to $1.46B, compared with net sales of $1.48B for the five-week period ended October 4, 2014. On a constant currency basis, September net sales increased 2% compared with last year. Gap's comparable sales for September were down 1% versus flat last year. The company's comparable sales by global brand for September were as follows: Gap Global were flat versus (3%) last year; Banana Republic Global were (10%) versus 2% last year; Old Navy Global were 4% versus 1% last year. CFO Sabrina Simmons noted, "While September proved challenging, our leadership teams remain focused on taking the necessary steps to improve performance." WHAT'S NOTABLE: Gap now expects its gross margin rate for the third quarter to be similar to the second quarter. ANALYST REACTION: Friday morning, research firm MKM Partners downgraded Gap to Neutral from Buy and lowered its price target to $29 from $40. Analyst Roxanne Meyer said the Q3 shortfall was likely across all brands and significantly cut sales and margin estimates. Meyer said the Old Navy September comp miss is likely more than weather and the drag from Banana Republic. PRICE ACTION: In late morning trading, Gap fell $1.75, or just over 6%, to $27.20 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week low of $26.50. Including the pull back, the shares have lost approximately 26% over the past year. OTHERS TO WATCH: Other apparel retailers include Urban Outfitters (URBN), down 1.3%, American Eagle Outfitters (AEO), down fractionally, Abercrombie & Fitch (ANF) down 2.4%, Buckle (BKE) down 1.3%, and Guess? (GES), down 1%.
08:20 EDTDISTop quality video content to outperform, says Pacific Crest
Pacific Crest predicts that companies with top quality video content will outperform, taking share from those with mid-range content. It identifies this trend as positive for Netflix, AMC Networks (AMCX), Time Warner (TWX), Disney (DIS), CBS (CBS), and 21st Century Fox (FOXA). According to the firm, this trend is negative for Viacom (VIAB), Scripps Networks (SNI), Discovery (DISCA), and Comcast (CMCSA)
October 8, 2015
13:36 EDTAROAeropostale signs license agreement with Himatsingka America
Aeropostale announced a domestic licensing agreement for home textiles with Himatsingka America. Under the licensing agreement, Himatsingka will design, manufacture and distribute home textiles such as bedding and bath linens using the Aeropostale label for department stores, big box retailers and wholesale channels across North America. Under this agreement, Aeropostale's expanded home collection is expected to be available during the Back to School 2016 season.
08:04 EDTDISDisney shares a 'great' investment at current levels, says JPMorgan
JPMorgan analyst Alexia Quadrani says Disney remains her top pick in Media heading into the earnings reporting season. The owner of ABC and ESPN is seeing continued strength across all segments and is positioned for "strong" results, Quadrani tells investors in a research note. She continues to view the stock as a "great investment" at current levels. The analyst reiterates an Overweight rating on Disney with a $130 price target. The stock closed yesterday down 40c to $103.37.
05:50 EDTDISMulti Screen Media, ESPN announce agreement to create digital platform in India
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October 7, 2015
17:09 EDTDISVice in talks to buy cable network, Bloomberg says
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08:06 EDTSMTCSemtech's LoRa selected by Orange
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05:58 EDTDISHulu renews, expands programming deal with Viacom, Deadline Hollywood says
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October 5, 2015
15:38 EDTTIVOTiVo volatility low as shares near three-year low
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October 4, 2015
18:42 EDTDISDisney considering demand-based pricing for theme parks, WSJ says
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October 1, 2015
14:53 EDTTIVOTiVo management to meet with Stephens
Meeting to be held in San Francisco on October 5 hosted by Stephens.
10:37 EDTDISBofA/Merrill's Top 10 US Ideas for Q4 2015
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05:58 EDTTIVOTiVo management to meet with Stephens
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September 30, 2015
06:40 EDTTIVOTiVo introduces BOLT hardware
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September 29, 2015
19:24 EDTAROAeropostale says considering reverse stock split to meet listing requirement
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16:09 EDTAROAeropostale receives NYSE listing notice
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15:19 EDTDISDiscovery drops as investor day fails to dispell cord-cutting fears
Shares of Discovery Communications (DISCA) have dropped today as the company held its first-ever investor day amid ongoing concerns about the potential decline of pay TV. NEW GUIDANCE: Discovery Chief Financial Officer Andrew Warren updated the company's full year 2015 outlook, saying he expects constant currency adjusted earnings per share to grow in the low double digits. The company expects revenue for the year to grow 9%-10%, with free cash flow up in low single digits. Meanwhile, year over year currency headwinds were seen deducting $460M from revenue and 24c-29c from adjusted EPS. Discovery also established long-term guidance, saying it sees its adjusted EPS compound annual growth rate up in low double digits from 2015 to 2018, on a constant currency basis. "Third quarter results are on track, highlighted by strong U.S. advertising growth," Warren added. THREE BILLION SUBSCRIBERS: CEO David Zaslav commented during the investor day that the company is "confident in the long-term outlook for our business," adding that Discovery expects to reach 3B cumulative worldwide subscribers by year's end. The Chief Executive highlighted what he called five differentiators for Discovery's growth potential, including its ownership of a growing and diverse portfolio of content and IP "that uniquely positions Discovery for the changing media landscape." CORD CUTTING: Multiple Discovery executives showcased the company's European products, including Eurosport and the Eurosport Player OTT service, as well as the company's apparent first-mover advantage in Latin America. The seemingly increased attention on foreign initiatives comes as U.S. cord-cutting trends continue generating headlines, with Citi analyst Jason Bazinet arguing as recently as September 18 that Disney (DIS) would be the only cable network to make more money in a bundle-free world. According to media reports of today's Discovery event, Chief Executive Zaslav said "it's not rational" that media companies are selling so much of their content to streaming services like Netflix (NFLX) that threaten the appeal of cable bundles. The CEO added that Discovery has assumed a 1%-2% decline in pay TV over "the next couple of years," though he reassured investor day attendees that the company's adjusted operating income should be roughly flat even in a worst-case scenario. PRICE ACTION: Shares of Discovery crashed as much as 7% in early morning trading before seeing hesitant moves higher. The stock is down just under 4% to roughly $26.70 heading towards session close.
September 28, 2015
09:36 EDTDIS Active equity options trading on open
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