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News Breaks
June 26, 2014
06:09 EDTELEstee Lauder downgraded to Neutral from Buy at B. Riley
Price target is $81.
News For EL From The Last 14 Days
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August 21, 2015
09:26 EDTELEstee Lauder should be bought on weakness, says RBC Capital
RBC Capital believes that Estee Lauder's multi-year growth story is intact. The firm says that in the last five times that the stock has fallen 5%, it has subsequently rebounded strongly. RBC cut tis price target on the name to $105 from $110 but keeps an Outperform rating.
August 18, 2015
10:00 EDTELOn The Fly: Analyst Upgrade Summary
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09:06 EDTELEstee Lauder upgraded to Outperform following selloff at Telsey Advisory
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07:43 EDTELEstee Lauder long-term outlook still favorable, says Stifel
After Estee Lauder reported higher than expected Q4 earnings but in-line sales and provided lower than expected EPS guidance, Stifel says that the guidance miss was due to investments that the company plans to make to drive its sales. The firm thinks that sales growth is the company's most important metric, and calls the company's Q4 results "solid." It thinks the company remains well-positioned to gain share, and it keeps a Buy rating on the stock.
07:06 EDTELEstee Lauder weakness creates buying opportunity, says Bernstein
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06:38 EDTELEstee Lauder upgraded to Outperform from Market Perform at Telsey Advisory
August 17, 2015
16:53 EDTELOn The Fly: Top stock stories for Monday
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13:30 EDTELOn The Fly: Top stock stories at midday
Stocks began the session deep in negative territory after a disappointing Empire Manufacturing report. The data got the market off to a weak start as optimism over last week's finish began to fade. The averages continued to drift in a narrow range for the opening hour before reversing and capturing the opening losses. Each of the major equity indices is now back in positive territory sporting slight gains across the board. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index plunged to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009. The employment component slid to 1.82, while new orders crashed to -15.70. Meanwhile, the U.S. NAHB homebuilder sentiment index rose to 61 in August from 60 in June and and is the highest since November 2005. The single family sales index edged up to 66 versus a revised 65 last month, while the index of prospective buyer traffic improved to 45 versus 43 previously. In Europe, various Eurozone parliaments prepare to vote on Greece's new EUR86B bailout plan this week. COMPANY NEWS: Liberty Interactive (QVCA) announced this morning an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B, driving zulily shares up more than 47% in intraday trading. The acquisition will be attributed to Liberty's QVC Group tracking stock, though QVC and zulily will be operated as separate consumer facing brands. On a conference call discussing the acquisition, Liberty Interactive executives noted that the "highly efficient" deal will allow Liberty to reach a younger base. MAJOR MOVERS: Among the notable gainers AVEO Oncology (AVEO), which rose roughly 50% after announcing a license agreement with Novartis (NVS) for the development and commercialization of AVEO's AV-380 drug and related antibodies. Also higher was Kite Pharma (KITE), which advanced roughly 5.4% after clarifying that an earlier patient death in its Phase 1/2 KTE-C19 trial for non-Hodgkin's lymphoma was unrelated to Kite's therapy. Additionally, shares of Target (TGT) have gained roughly 10c despite lingering in negative territory early Monday after the company promoted CFO John Mulligan to the newly created role of EVP and COO and appointed Cathy Smith as EVP and CFO. Prior to joining Target, Smith served as EVP and CFO at St. Louis-based Express Scripts (ESRX). Among the noteworthy losers was KKR (KKR), which lost roughly 2.4% after Samson Resources announced a restructuring agreement late Friday, adding that it expects to file for bankruptcy within 30 days. Also lower was Estee Lauder (EL), which declined nearly 6.5% after its quarterly guidance missed analysts' estimates. INDEXES: Near midday, The Dow was up 65.11, or 0.37%, to 17,542.51, the Nasdaq gained 34.73, or 0.69%, to 5,082.96, and the S&P 500 advanced 8.80, or 0.42%, to 2,101.03.
10:25 EDTELEstee Lauder says impact of TV ads 'moderating,' impact of digital 'growing'
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10:14 EDTELEstee Lauder says 'open' to further acquisition opportunities
Says emerging markets remain major growth engines. Says global prestige beauty "dynamic." Says accelerating expansion in key countries like Turkey, China. Expects U.K. business to remain robust. Says strategic view of opportunities "unchanged." Sees topline growth of 6%-8% annually in constant currency, double digit EPS growth. Sees rapid expansion in emerging markets, will selectively increase penetration in developed markets. Says "open" to further acquisition opportunities. Expects the four acquisitions made in FY15 to be slightly dilutive for next few years. Sees improved performance across all working capital drivers. Sees FY16 tax rate 29%-30%, CapEx at approx. 5% of sales. Says reviews capital structure annually with board, doesn't see any major changes this year. Says has room to grow dividend. Comments made on the Q4 earnings conference call. Estee Lauder is down 2.8% to $86.33 in morning trading.
10:10 EDTELHigh option volume stocks
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09:26 EDTELOn The Fly: Pre-market Movers
HIGHER: AVEO (AVEO), up 119.7% after announcing licensing agreement with Novartis (NVS)... OHR Pharmaceutical (OHRP), up 24.9% after Soros reports new stake in company in 13F filing... Kite Pharma (KITE), up 4.6% after saying patient death unrelated to KTE-C19... Tesla (TSLA), up 5.5% after price target raised to $465 from $280 at Morgan Stanley... Mobileye (MBLY), up 2.7% after price target raised to $80 from $71 at Morgan Stanley... J.C. Penney (JCP), up 1.5% after being initiated with a Buy at B. Riley and Piper Jaffray raised its price target to $17 from $15. DOWN AFTER EARNINGS: Estee Lauder (EL), down 2.1% after reporting quarterly results and giving guidance for first quarter and fiscal 2016. ALSO LOWER: KKR (KKR), down 3.3% after Samson enters restructuring deal and expects to file for bankruptcy within 30 days... Aquinox (AQXP), down 4.7% after Lloyd Mackenzie, vice president - Technical Operations and Planning, disclosed late Friday the sale of 35,887 shares worth over $670,000 in a sale related to the exercise of options.
07:34 EDTELEstee Lauder sees FY16 EPS $3.10-$3.17, consensus $3.28
Net sales are forecasted to grow between 8% and 10% in constant currency. Reflecting the strength of the U.S. dollar, foreign currency translation is expected to negatively impact sales by approximately 3% to 4% versus the prior-year period. The accelerated retailer orders will affect the comparison between the fiscal 2016 and fiscal 2015 full year sales by approximately 2%. Net sales adjusting for the effect of the accelerated retailer orders are forecasted to grow between 6% and 8% in constant currency. The Company's recent acquisitions are forecast to contribute approximately 50 basis points to the Company's overall sales growth. Acquisitions are estimated to dilute earnings per share by approximately 5c. The approximate 3% to 4% negative currency impact on the sales growth equates to about 18c of earnings per share. On a constant currency basis and adjusting for the effect of the accelerated retailer orders, diluted earnings per share are expected to grow between 8% to 10%.
07:33 EDTELEstee Lauder sees Q1 EPS 66c-69c, consensus 81c
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07:31 EDTELEstee Lauder reports Q4 EPS 40c, consensus 34c
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