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Stock Market & Financial Investment News

News Breaks
February 28, 2014
10:32 EDTDECK, WWW, SHOODeckers 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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February 25, 2015
07:25 EDTWWWJPMorgan to hold a conference
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February 24, 2015
07:04 EDTSHOOSteven Madden sees FY15 EPS $1.85-$1.95, consensus $1.95
Sees FY15 net sales up 7%-9% over FY14.
07:03 EDTSHOOSteven Madden reports Q4 EPS 34c, consensus 35c
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February 18, 2015
10:05 EDTWWWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Agnico Eagle (AEM) upgraded to Overweight from Neutral at JPMorgan... Amarin (AMRN) upgraded to Buy from Neutral at SunTrust... Capital Product (CPLP) upgraded to Accumulate from Neutral at Global Hunter... Carlyle Group (CG) upgraded to Buy from Neutral at Citigroup... Danone (DANOY) upgraded to Neutral from Underperform at Exane BNP Paribas... Express (EXPR) upgraded on lower promotional activity at Piper Jaffray... Kforce (KFRC) upgraded to Outperform from Market Perform at Avondale... Legg Mason (LM) upgraded to Buy from Hold at Jefferies... Rackspace (RAX) upgraded following Q4 results at Pacific Crest... Rosetta Resources (ROSE) upgraded to Buy from Neutral at Global Hunter... SeaChange (SEAC) upgraded to Buy from Hold at Noble Financial... Valero (VLO) upgraded to Outperform from Neutral at Credit Suisse... Veeco (VECO) upgraded to Buy from Hold at Noble Financial... Wolverine World Wide (WWW) upgraded to Neutral from Underperform at Sterne Agee.
05:40 EDTWWWWolverine World Wide upgraded to Neutral from Underperform at Sterne Agee
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February 17, 2015
06:36 EDTWWWWolverine World Wide to invest $30M in brand building during FY15
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06:33 EDTWWWWolverine World Wide sees FY15 adjusted EPS $1.53-$1.60, consensus $1.65
Sees FY15 revenue $2.82B-$2.87B, consensus $2.88B.
06:32 EDTWWWWolverine World Wide reports Q4 adjusted EPS 30c, consensus 30c
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