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Stock Market & Financial Investment News

News Breaks
June 10, 2014
12:19 EDTCHS, NWY, CBK, ANN Christopher & Banks rallies after better than expected results
Shares of women's retailer Christopher & Banks (CBK) are rising after the company's first quarter quarter results topped analysts' consensus estimates, and it confirmed it was on track to deliver on its three-year growth plan. WHAT'S NEW: This morning, Christopher & Banks reported Q1 earnings per share of 7c and revenue of $103.4M, topping estimates of 2c and $103.23M, respectively. Q1 same store sales fell 0.2%. WHAT'S NOTABLE: The company forecast Q2 SSS up in the low to mid single digit range and approximately 100 to 150 bps of gross margin improvement, as compared to the comparable prior year period, largely driven by improved merchandise margins. LuAnn Via, President and CEO, commented, "Looking ahead, additional opportunities to enhance our merchandise offering, further engage our customer and broaden our reach with our marketing programs are expected to result in continued improvement in store productivity. We also plan to accelerate our MPW strategy and end the year with approximately 190 locations in this format, as these stores continue to deliver strong returns. Overall, we are well-positioned to meet our financial goals for the year, and are on track to deliver on our three-year growth plan.” PRICE ACTION: In early afternoon trading, Christopher & Banks rose 70c, or 10.53%, to $7.35 on nearly three times its average daily trading volume. Including today's advance, the stock is up approximately 4% over the past 12 months. OTHERS TO WATCH: Other women's retailers include Chico's FAS (CHS), which is up almost 9% after announcing it was exploring a sale to private equity firms, Ann Inc (ANN), and New York & Company (NWY).
News For CBK;CHS;ANN;NWY From The Last 14 Days
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March 31, 2015
10:19 EDTANNMorgan Stanley to hold a conference
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10:01 EDTNWYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: EVERTEC (EVTC) initiated with a Buy at Topeka... Express (EXPR) initiated with a Buy at Brean Capital... Flexion (FLXN) initiated with a Buy at MLV & Co.... HomeAway (AWAY) initiated with a Long-Term Buy at Hilliard Lyons... IAC (IACI) initiated with an Outperform at JMP Securities... INC Research (INCR) initiated with an Outperform at Raymond James... L Brands (LB) initiated with a Hold at Brean Capital... Masonite (DOOR) initiated with an Equal Weight at Stephens... MaxPoint Interactive (MXPT) initiated with a Buy at Deutsche Bank... NGL Energy Partners (NGL) initiated with an Equal Weight at Barclays... Neovasc (NVCN) initiated with an Outperform at Northland... New York & Co. (NWY) initiated with a Buy at Brean Capital... Pacific Biosciences (PACB) initiated with an Equal Weight at Stephens... Rice Midstream (RMP) initiated with an Outperform at Wells Fargo... Sensient (SXT) initiated with a Buy at BB&T... Skullcandy (SKUL) initiated with a Buy at Wunderlich... Ultragenyx (RARE) initiated with a Buy at MLV & Co.... Virgin America (VA) initiated with a Hold at Stifel... ZAGG (ZAGG) initiated with a Buy at Wunderlich.
05:43 EDTNWYNew York & Co. initiated with a Buy at Brean Capital
Target $4.
March 27, 2015
05:52 EDTANNAmerican Eagle downgraded to Sell from Neutral at Goldman
Goldman Sachs downgraded American Eagle (AEO) to Sell saying it sees 29% downside risk over the next six months. Goldman believes declining mall traffic and "aggressive competition" from low cost stores puts the retailer in a multi-year period of diminishing productivity, margins, and returns. Its six-month price target for American Eagle is $12. Shares of the retailer closed yesterday up 17c to $16.92. Goldman lists Ann Inc. (ANN), Abercrombie & Fitch (ANF) and American Eagle as its top sell ideas in the Specialty Apparel space. Its lone Buy rated name in the group is Urban Outfitters (URBN).
March 26, 2015
13:24 EDTCHSChico's management to meet with Jefferies
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March 24, 2015
19:40 EDTCBKOn The Fly: After Hours Movers
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16:15 EDTCBKChristopher & Banks reports Q4 EPS 86c, may not compare to consensus (10c)
Q4 EPS included a $41.3M, or $1.10 per diluted share, reversal of the valuation allowance related to deferred income taxes and the impact of the error correction of $2.2M, or 6c per diluted share.
16:07 EDTCBKChristopher & Banks says calculation of deferred rent expense incorrect
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16:06 EDTCBKChristopher & Banks sees FY15 revenue $422M-$432M, consensus $438.56M
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16:04 EDTCBKChristopher & Banks sees Q1 net sales $90M-$94M, consensus $108.18M
Expects Q1 gross margin to decline by 140-160 basis points, with continued improvement in merchandise margins more than offset by deleveraging of occupancy and other cost of goods sold. Inventory for the first quarter is expected to be lower, on average, than last year, but end the quarter approximately 4.0% higher than at the end of last year’s first quarter.
16:03 EDTCBKChristopher & Banks reports Q4 EPS 86c, may not compare to consensus (10c)
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March 19, 2015
18:58 EDTNWYOn The Fly: After Hours Movers
UP AFTER EARNINGS: Mattress Firm (MFRM), up 5.2%... New York & Company (NWY), up 3.1%... Rally Software (RALY), up 1.4%... Nike (NKE), up 4.2%... Youku Tudou (YOKU), up 1%. ALSO HIGHER: Prothena (PRTA), up 39.3% after reporting positive results from Phase 1 study of PRX002... SeaWorld (SEAS), up 1% after naming Joel Manby as president and CEO. DOWN AFTER EARNINGS: AK Steel (AKS), down 9.1%.
16:11 EDTNWYNew York & Co. sees FY15 CapEx $28M-$304M
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16:11 EDTNWYNew York & Co. sees Q1 CapEx $11M-$14M
16:10 EDTNWYNew York & Co. sees Q1 adjusted EPS "approximately breakeven", consensus 2c
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16:09 EDTNWYNew York & Co. reports Q4 adjusted EPS (1c), consensus 0c
Reports Q4 revenue $267.4M, consensus $267.04M. Reports Q4 SSS down 0.9%.
March 17, 2015
08:33 EDTNWYNew York & Co. guidance may miss expectations, says Janney Capital
Janney Capital said it expects New York & Co. to report in-line Q4 results and sees the potential for its guidance to come in below consensus expectations, given the negative impacts of weather and the West Coast port slowdown. The firm maintains its Neutral rating on the stock. New York & Co. is scheduled to report results and hold its earnings call after the market close on March 19.

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