|March 26, 2014|
|11:46 EDT||GDP, INSM, GES, ECYT, MONT||Options with decreasing implied volatility: ECYT INSM MONT GES GDP|
News For ECYT;INSM;MONT;GES;GDP From The Last 14 Days
|November 30, 2015|
|17:04 EDT||GES||On The Fly: Top stock stories for Monday|
After seeing an early-morning jump, stocks on Wall Street spent Monday's trading session generally lower amid a glut of reports on Black Friday and Cyber Monday sales trends as well as weaker than expected financial data on manufacturing and home sales. ECONOMIC EVENTS: In the U.S., the Chicago purchasing managers' index dropped 7.5 points to 48.7 in November, coming in much worse than the expected 54.0 reading. Pending home sales for October, meanwhile, rose 0.2% from the prior month, lower than the forecasted 1% monthly increase. The Dallas Fed's manufacturing index rose 7.8 points to -4.9 in November, which was better than the anticipated -10.0 reading. The National Retail Federation said that about 151M people say they shopped in-store or on-line over the past four days, compared with 136M who said in a mid-November survey that they planned to shop over the holiday period. Also, as expected, the International Monetary Fund Monday added the Chinese yuan to the the fund's basket of reserve currencies, joining the U.S. dollar, the euro, the Japanese yen and the British pound. COMPANY NEWS: Shares of Amazon (AMZN) spiked momentarily on Monday morning amid media reports that the company was seeing a strong start to the holiday sales season, with ChannelAdvisor reporting same-store sales growth of above 20% for the e-commerce giant over Black Friday and the rest of the long Thanksgiving weekend. By session close, however, the shares gave up their early gains, falling 1.26% to $664.80. Meanwhile, Target (TGT) slipped 1.28% to $72.50 as shoppers visiting the company's website in search of Cyber Monday deals encountered intermittent delays, which the company pinned on record sales volumes. Fellow retailer Wal-Mart (WMT) dipped 1.70% to $58.87, while specialty names Express (EXPR), Urban Outfitters (URBN), and Guess? (GES) fell a respective 5.48%, 5.29%, and 6.68%. MAJOR MOVERS: Among the notable gainers were a number of renewable fuel companies, with Pacific Ethanol (PEIX) and Renewable Energy Group (REGI) advancing a respective 21.12% and 6.50% after the EPA finalized its biofuel targets. Petroleum refiners HollyFrontier (HFC) and Tesoro (TSO) slipped 3.30% and 1.74%, respectively, following the news, while oil majors Exxon Mobil (XOM) and Chevron (CVX) closed the day up a respective 0.69% and 1.24%. Also higher was ITC Holdings (ITC), which jumped $3.11, or 9.21%, to $36.86 following a Bloomberg report that the company is exploring a potential sale. Separately, Microsoft (MSFT) rose 42c, or 0.78%, to $54.35 after research firm Raymond James upgraded the company two notches to Strong Buy from Hold, predicting that the tech giant will become one of the few large scale cloud vendors that can succeed across the industry's various segments. Among the noteworthy losers was Lockheed Martin (LMT), which declined $6.65, or 2.94%, to $219.26 after Barclays downgraded the shares to Underweight from Equal Weight, saying it "doesn't make sense" to expect further outperformance from the defense major. Also lower was Under Armour (UA), which fell $3.43, or 3.82%, to $86.25 after Piper Jaffray analyst Erinn Murphy cut her price target on the stock following visits to malls and retailers Thanksgiving night, reportedly finding evidence of deeper discounts than last year. Additionally, Lululemon (LULU) lost 8.91% to $47.82 after being downgraded to Underperform from Market Perform at FBR Capital after the research firm discovered "significantly higher" clearance levels on company products in-store and online. INDEXES: The Dow fell 78.57, or 0.44%, to 17,719.92, the Nasdaq lost 18.86, or 0.37%, to 5,108.67, and the S&P 500 slipped 9.70, or 0.46%, to 2,080.41.
|November 25, 2015|
|12:14 EDT||GES||On The Fly: Top stock stories at midday|
Stocks began the session in positive territory and have remained there throughout the morning, moving in a narrow range on fairly light volume as expected on a get-away day for many investors ahead of Thanksgiving. The tepid trading comes amid a packed economic calendar, with a number of reports that are usually scheduled for release on other days of the week being accelerated due to the holiday. ECONOMIC EVENTS: In the U.S., there was a very busy slate of economic data as several days of reports were crammed into a single morning. Jobless claims fell to 260,000 in the week ended November 21, versus expectations for 270,000 first-time claims. Personal income rose 0.4% in October, matching expectations, while spending rose 0.1%, versus expectations for spending to rise 0.3%. Durable goods orders were up 3.0% last month, versus expectations of up 1.7%. When transportation items are removed, the core reading was up 0.5%, versus expectations for it to be up 0.3%. The FHFA home price index rose 0.8% in September to a reading of 226.5. Markit's services index improved to 56.5 in the flash reading for November, topping the 55.1 forecast. New home sales rose 10.7% to a 495,000 rate in October. Consumer sentiment rose to 91.3 in the final November print of the University of Michigan survey, up from October's 90.0 reading but down from the preliminary 93.1 November reading. COMPANY NEWS: Shares of HP Inc. (HPQ) and HP Enterprise (HPE) moved in opposite directions following their last combined earnings report. HP Inc., which was downgraded by Needham analyst David Rold to Hold following last night report, fell 13% near midday. Meanwhile, HP Enterprise, which announced an Azure cloud partnership with Microsoft (MSFT) in addition to its results, gained about 3%... Deere (DE), which reported better than expected earnings and issued a 2016 sales outlook that met expectations, gained nearly 4% following its quarterly report. MAJOR MOVERS: Among the notable gainers was Pandora (P), which rallied almost 5% after it said that the Register of Copyrights ruled that it couldn't offer an opinion to counter the current "non-differentiated rate structure of licensors." Also higher was Guess (GES), which gained 8% after it reported quarterly earnings and provided guidance. Among the noteworthy losers were SunEdison (SUNE) and TerraForm Power (TERP), which fell 14% and 15%, respectively, after an analyst from UBS downgraded both companies' stocks, saying they are facing considerable risk after personnel changes at TerraForm. Also lower was PTC Therapeutics (PTCT), which lost 5% after Jefferies analyst Gena Wang downgraded its shares to Underperform, saying yesterday's FDA panel for BioMarin's (BMRN) competing muscular dystrophy drug is a negative for PTC. Following yesterday's FDA meeting, BioMarin slipped fractionally and Sarepta (SRPT), which is also competing in the same therapeutic area, was flat. INDEXES: Near midday, the Dow was up 23.48, or 0.13%, to 17,835.67, the Nasdaq was up 19.14, or 0.38%, to 5,121.94, and the S&P 500 was up 2.27, or 0.11%, to 2,091.41.
|11:47 EDT||GES||Guess 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).
|09:24 EDT||GES||On The Fly: Pre-market Movers |
UP AFTER EARNINGS: Deere (DE), up 4.7%... TiVo (TIVO), up 4.6%... HP Enterprise (HPE), up 2.9%... Qunar (QUNR), up 2.7%... Guess (GES), up 7%. ALSO HIGHER: Aduro BioTech (ADRO), up 6.1% after confirming that all clinical trials are continuing unaltered as planned... American Capital (ACAS), up 6.9% after announcing strategic review of alternatives and expanding its share buyback program to $1B... Pandora (P), up 5.3% after reporting the opinion of the Register of Copyrights. DOWN AFTER EARNINGS: 21Vianet (VNET), down 2.3%... HP Inc. (HPQ), down 9.1%. ALSO LOWER: TerraForm Power (TERP), down 6.1% after being downgraded to Sell from Neutral at UBS... Sunedison (SUNE), down 6.6% after being downgraded to Sell from Neutral at UBS... BioMarin (BMRN), down 2.9% after FDA panel meeting about its New Drug Application for Kyndrisa.
|November 24, 2015|
|19:26 EDT||GES||On The Fly: After Hours Movers |
UP AFTER EARNINGS: Veeva Systems (VEEV), up 7.1%... Guess (GES), up 4.7%... HP Enterprise (HPE), up 2%. ALSO HIGHER: Aduro BioTech (ADRO), up 2.8% after confirming that all clinical trials are continuing unaltered as planned... Prima BioMed (PBMD), up 1.6% after filing its investor update ahead of its General Meeting. DOWN AFTER EARNINGS: HP Inc. (HPQ), down 7.4% after reporting quarterly results.
|16:19 EDT||GES||Guess now sees FY16 EPS 93c-$1.02, consensus 96c|
Sees FY16 revenue to decline between 1.5% and 0.5% in constant currency. 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.
|16:18 EDT||GES||Guess sees Q4 EPS 53c-62c, consensus 59c|
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|16:17 EDT||GES||Guess reports Q3 EPS 15c, consensus 11c|
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|15:23 EDT||GES||Notable companies reporting after market close |
Notable companies reporting after the market close, with earnings consensus, include HP Enterprise (HPE), consensus 52c... Hewlett-Packard (HPQ), consensus 45c... Veeva (VEEV), consensus 11c... Guess (GES), consensus 11c... Caleres (CAL), consensus 78c... TiVo (TIVO), consensus 8c.
|14:17 EDT||GES||Guess technical notes ahead of earnings|
The stock has been basing, with a bullish bias, since hitting fresh 52-week lows in March of this year. There is also a very large percentage of the float short at over 27%. If the news is more bullish than traders appear to be positioned for, there could be a much stronger than typical move to the upside. Resistance levels to watch from the current price of $19.82 are at $21.12, $22.39, and $23.45 which is the 52-week high. If the news is bearish, the current recovery could be disrupted. Support levels to watch as potential downside objectives would be at $18.67, $17.83, and $17.29. The 52-week low is at $16.61.