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Stock Market & Financial Investment News

News Breaks
February 28, 2014
10:32 EDTDECK, SHOO, WWWDeckers Outdoor tumbles after guidance miss
Shares of footwear maker Deckers Outdoor (DECK) are plunging after the company last night reported stronger than expected fourth quarter results, but provided much lower than expected guidance. WHAT'S NEW: Deckers, which makes the popular "UGG" brand of boots, reported Q4 EPS of $4.04, compared with analysts' consensus estimate of $3.80. Decker's revenue also came in above expectations. However, the footwear maker predicted that it would report a Q1 loss of 16c per share, versus the consensus outlook of a 10c per share profit. The company added that its profit would drop in the first half of fiscal 2014, compared with the same period a year earlier. Deckers indicated that the decline would be caused by costs associated with its opening of 28 new stores in the second half of 2013. ANALYST REACTION: Two research firms had very different reactions to Deckers' results. In a note to investors earlier today, Jefferies analyst Randal Konik downgraded the stock to Hold from Buy. Deckers' "overly aggressive" spending plan for 2014, along with its guidance, caused Konik to recant his previous belief that the company's 2014 earnings would beat expectations. Costs associated with the company's new stores, in tandem with other expenses, will prevent the company from increasing its gross margins this year as the analyst had previously anticipated, he wrote. Taking a much more optimistic view was PiperJaffray analyst Erinn Murphy, who urged investors to buy the stock on today's weakness. Deckers' guidance incorporates a large amount of conservatism, wrote the analyst. She expects the company's same-store sales to remain positive, and notes that the company plans to roll out more than 25 new stores this year, while its year-end backlog was up 25% versus he end of 2012. She thinks the company can report stronger than expected results going forward, and keeps a $96 price target and Outperform rating on the shares. PRICE ACTION: In mid-morning trading, Deckers plunged $13.67, or 16.15%, to $71.01. OTHERS TO WATCH: Other makers and retailers of boots and other footwear include Steven Madden (SHOO) and Wolverine World Wide (WWW).
News For DECK;SHOO;WWW From The Last 14 Days
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October 29, 2014
18:04 EDTSHOOSteven Madden initiated with an Equal Weight at Morgan Stanley
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18:02 EDTDECKDeckers Outdoor initiated with an Overweight at Morgan Stanley
10:58 EDTDECKOptions with decreasing implied volatility:
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October 28, 2014
14:39 EDTSHOOSteven Madden management to meet with Sterne Agee
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October 27, 2014
10:43 EDTDECKOptions with decreasing implied volatility
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October 24, 2014
09:11 EDTDECKDeckers Outdoor outlook strong, says Sterne Agee
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09:06 EDTDECKDeckers Outdoor guidance likely conservative, says Janney Capital
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07:25 EDTDECKDeckers Outdoor guidance likely conservative, says Jefferies
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October 23, 2014
16:18 EDTDECKDeckers Outdoor sees Q3 EPS $4.46, consensus $4.75
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16:17 EDTDECKDeckers Outdoor raises FY15 EPS view to $4.71, consensus $4.76
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16:15 EDTDECKDeckers Outdoor reports Q2 EPS $1.17, consensus $1.03
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15:30 EDTDECKNotable companies reporting after market close
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15:13 EDTDECKDeckers Outdoor technical comments ahead of results
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12:56 EDTDECKDeckers Outdoor weekly volatility elevated into Q3 and outlook
Deckers Outdoor October weekly call option implied volatility is at 176, November weekly is at 64, December is at 44, January is at 45; compared to its 26-week average of 39 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today after the market close.
October 22, 2014
06:25 EDTDECKDeckers Outdoor risk/reward favorable into results, says Jefferies
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October 20, 2014
13:14 EDTSHOODSW's FY14 guidance more at risk today, says Sterne Agee
Sterne Agee said DSW's (DSW) FY14 EPS guidance is more at risk today following Steven Madden's (SHOO) guidance cut this morning. The analyst said lower price points and higher shipping costs are reflected in margin guidance but not the need for increased promotional activity.
13:10 EDTSHOOSteve Madden tumbles after providing preliminary Q3 results, FY14 outlook
Shares of shoe and accessory company Steve Madden (SHOO) are tumbling after the company announced preliminary third quarter results that were below analysts' consensus along with a reduction to its fiscal year 2014 outlook. WHAT'S NEW: Steve Madden announced that it is anticipating Q3 earnings per share to be approximately 61c-62c and net sales of $392M, below analysts' consensus estimates of 67c and $415.72M, respectively. The company noted that retail comparable store sales for the quarter are anticipated to be down 7.4%. Steve Madden also reduced its FY14 EPS outlook to $1.81-$1.86 from $2.00-$2.10, well below analysts' $2.02 consensus. The company lowered its net sales projection for the year, and now sees net sales up 1%-2% over fiscal year 2013 versus its previous net sales guidance for up 2%-4% over FY13. The new guidance factors in the recent acquisition of Dolce Vita and current expectations for remainder of the year. On August 14, Steve madden acquired Dolce Vita for $60.3M in cash and previously said the deal would be accretive to earnings in FY14 by 2c-3c and be "modestly accretive" in FY15. WHAT'S NOTABLE: Steve Madden's Chief Executive Officer Edward Rosenfeld said that the company's Q3 earnings were "disappointing" and were the result of weaker than expected retail segment performance. He believes that retail trends in the footwear space will continue to be difficult through the fourth quarter due to a lack of noteworthy fashion trends in the industry. The CEO said that the company's full-year guidance results from this pattern, along with a lowered reorder outlook in its wholesale segment. Rosenfeld is still confident, however, in the company's business model and believes that its acquisitions of Dolce Vita and its Mexican licensee will fuel the business forward over the long term. OTHERS TO WATCH: Competitors of Steve Madden include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Vera Bradley. PRICE ACTION: During afternoon trading, shares of Steve Madden fell $2.62 or 8.2%, to $29.32. Over the last twelve months, the stock has fallen over 15%.
09:22 EDTSHOOOn The Fly: Pre-market Movers
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08:04 EDTSHOOSteven Madden cuts FY14 EPS view to $1.81-$1.86, consensus $2.02
Previous guidance was $2.00-$2.10. Now sees FY14 net sales up 1%-2% over FY13, consensus $1.38B. Previous net sales guidance was up 2%-4% over FY13.
08:02 EDTSHOOSteven Madden sees Q3 EPS approx. 61c-62c, consensus 67c
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