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News Breaks
January 22, 2014
10:12 EDTTIF, ZLC, KORS, RL, COHCoach sinks after results miss expectations
Shares of Coach (COH) are dropping significantly after the luxury accessories maker reported weaker than expected second quarter results this morning. WHAT'S NEW: Coach's second quarter revenue and profits both came in below analysts' consensus estimates. The company said that it was disappointed by the performance of its women's handbags and accessories during the quarter, and added that its stores in North America have continued to come under pressure. On a positive note, Coach continues to expect to generate about $700 million of sales in fiscal 2014, up about 20% from last year. Moreover, the company is upbeat about the outlook for its men's business. OTHERS TO WATCH: Other companies that sell high-end retail products include Michael Kors (KORS), Tiffany (TIF), Ralph Lauren (RL), and Zale Corporation (ZLC). PRICE ACTION: In early trading, Coach sank $3.40, or 6.5%, to $49.15.
News For COH;KORS;TIF;RL;ZLC From The Last 14 Days
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November 25, 2015
11:47 EDTRLGuess surges after Q3 profit beats estimates
Shares of Guess (GES), which licenses and distributes apparel and accessories, are advancing after the company's third quarter profit surpassed analysts' consensus estimates. WHAT'S NEW: Last night, Guess reported Q3 earnings per share of 15c, beating estimates of 11c, and revenue of $521M, matching the consensus forecast. In constant currency, total net revenue decreased 3.9%. Q3 retail comparable sales including e-commerce decreased 6% in U.S. dollars and 2% in constant currency. Victor Herrero, Chief Executive Officer, commented, "I am pleased to report that third quarter results were better than our expectations. Our European retail business was especially strong with a double digit comp sales increase for the quarter for the first time in five years." GUIDANCE: Looking ahead to Q4, Guess forecast EPS of 53c-62c, versus consensus of 59c. It sees Q4 net revenues to range between a decline of 1.5% and an increase of 1.5% in constant currency, compared to consensus of $662.8M. Currency headwinds are expected to negatively impact consolidated revenue growth by approximately 5.5%, for a net decline between 7.0% and 4.0%. The estimated impact on earnings per share of the currency headwinds is approximately 18c. For FY16, Guess raised the bottom end of its EPS outlook to 93c-$1.02 from 89c-$1.02, compared to consensus of 96c. FY16 revenue is forecast to decline between 1.5% and 0.5% in constant currency, versus consensus of $2.21B. Currency headwinds are expected to negatively impact consolidated revenue growth by approximately 8.0%, for a net decline between 9.5% and 8.5%. The estimated impact on FY16 earnings per share of the currency headwinds is approximately 40c. PRICE ACTION: In late morning trading, Guess rose $1.60, or about 8.2%, to $21.14 on heavy trading volume. Despite today's advance, the shares have lost approximately 7% over the past 12 months. OTHERS TO WATCH: Other companies that distribute and license apparel and accessories include PVH Corp. (PVH), Ralph Lauren (RL), Perry Ellis (PERY) and VF Corp. (VFC).
10:04 EDTTIFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21Vianet (VNET) downgraded to Neutral from Overweight at JPMorgan... Anglo American (AAUKY) downgraded to Reduce from Hold at HSBC... Boulder Brands (BDBD) downgraded to Market Perform from Outperform at William Blair... Cracker Barrel (CBRL) downgraded to Hold from Buy at Argus... HP Inc. (HPQ) downgraded to Hold from Buy at Needham... PTC Therapeutics (PTCT) downgraded to Underperform from Hold at Jefferies... SunEdison (SUNE) downgraded to Sell from Neutral at UBS... TerraForm Power (TERP) downgraded to Sell from Neutral at UBS... Tiffany (TIF) downgraded to Neutral from Buy at Monness Crespi... Valspar (VAL) downgraded on negative catalysts at RBC Capital... eBay (EBAY) downgraded to Buy from Conviction Buy at Goldman.
08:11 EDTTIFTiffany downgraded to Neutral from Buy at Monness Crespi
07:23 EDTTIFTiffany near-term outlook upbeat, says Oppenheimer
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November 24, 2015
10:06 EDTTIFHigh option volume stocks
High option volume stocks: BDBD UNXL NVS SEDG BLOX GPRE SIG BPL TIF DY
09:24 EDTTIFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Baozun (BZUN), up 7.3%... Analog Devices (ADI), up 4.3%. ALSO HIGHER: Boulder Brands (BDBD), up 8.4% after Pinnacle Foods (PF) announced that it will acquire the company for $11.00 per share... Sunedison (SUNE), up 18% after the Economic Times reported that the company plans place 400MW of upcoming solar capacity on sale... Avon Products (AVP), up 7.5% after being upgraded to Buy from Neutral at Citi... Valeant (VRX), up 2.1% after Pershing Square increases stake in the company to 9.9%... Xerox (XRX), up 2.3% after Carl Icahn reported a 7.13% stake in the company. DOWN AFTER EARNINGS: Signet Jewelers (SIG), down 6.2%... Tiffany (TIF), down 2.9%... Brocade Communications (BRCD), down 7.2%. ALSO LOWER: UniPixel (UNXL), down 44.6% after the company prices a common stock and warrant offering... U.S. Steel (X), down 4% after announcing that it will idle its Granite City Works operations.
08:55 EDTTIFTiffany says saw 'substantial' decline in foreign tourist spending in Q3
Says saw "substantial" decline in foreign tourist spending in Q3, with "pronounced weakness" in New York area, as well as other tourist-related markets on the East and West Coasts and Hawaii. Says in the process of some "major" U.S. store renovations. Says on track to increase company operated stores by a net of approximately 12 stores this year. Says longer-term plans for worldwide square footage growth closer to 2% per year. Expects "modest" increase in gross margin for FY. Sees FY effective tax rate similar to last year's 34.4%. Says "well positioned" for holiday season. Says macro environment in near-term remains "uncertain" in Americas, other areas. Comments taken from the Q3 earnings conference call. Tiffany & Co is down 2.71% in pre-market trading.
08:12 EDTTIFTiffany CEO says strong dollar put pressure on Q3 results
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06:43 EDTTIFTiffany sees FY16 EPS to be 5%-10% below FY15 EPS, consensus $4.04
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06:42 EDTTIFTiffany reports Q3 EPS excluding items 76c, consensus 75c
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November 23, 2015
15:28 EDTTIFNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Analog Devices (ADI), consensus 83c... Hormel Foods (HRL), consensus 69c... Dollar Tree (DLTR), consensus 53c... Campbell Soup (CPB), consensus 76c... Signet Jewelers (SIG), consensus 39c... Tiffany (TIF), consensus 75c... Valspar (VAL), consensus $1.31... Patterson Companies (PDCO), consensus 60c... Eaton Vance (EV), consensus 59c...Burlington Stores (BURL), consensus 23c... Cracker Barrel (CBRL), consensus $1.59.
14:50 EDTTIFTiffany technical comments before earnings
Expectations for earnings are relatively low, with price not far from the 52-week low at $73.09. If the news is a bearish disappointment, the current downtrend is likely to continue. A test of the 52-week low in that event would seem highly probable. Next support below would be at $70.77 and then at $65.92. If the news is a bullish surprise, there could be a stronger than normal response given where expectations are set. Next resistance above the current price of $75.90 would be at $80.07. On a breakout above the $80 area, resistance levels to watch as potential upside objectives would be at $81.91 and then at $86.48.
12:40 EDTTIFTiffany volatility elevated into Q3 and outlook
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November 18, 2015
10:02 EDTTIFHigh option volume stocks: CIT TDC MAR JNK EIX TIF NBG DSX FCS ARG
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07:59 EDTTIFTiffany price target lowered to $90 from $97 at Cowen
Cowen lowered its price target on Tiffany to $90 from $97 citing near term caution on global macro conditions. The firm remains positive longer term citing product innovation, geographic expansion of it store base and improving CRM capabilities. Cowen reiterated its Outperform rating on Tiffany shares.
November 17, 2015
10:20 EDTTIFOptions with increasing implied volatility
Options with increasing implied volatility: SGMS HZNP CSC ULTA RH BURL GME AEO BBRY TIF
07:52 EDTKORSMorgan Stanley to hold a conference
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November 16, 2015
16:43 EDTKORSGreenlight Capital added Apple, sold some SunEdison
Greenlight Capital gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: CNX Coal Resources (CNXC), Garmin (GRMN), Terraform Global (GLBL), and Liberty Global (LILA). INCREASED STAKES: Apple (AAPL), Michael Kors (KORS), Dillard's (DDS), UIL Holdings (UIL), and Twenty-First Century Fox (FOXA). DECREASED STAKES: SunEdison (SUNE), Micron (MU), Voya (VOYA), Applied Materials (AMAT), and SunEdison Semiconductor (SEMI). LIQUIDATED STAKES: Citizens Financial (CFG), Lam Research (LRCX), Spirit AeroSystems (SPR), Hertz (HTZ), and Macy's (M).

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