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Stock Market & Financial Investment News

News Breaks
July 16, 2014
10:00 EDTESV, WAC, TSM, STWRY, POT, ROST, NSM, NNN, KORS, KPLUF, IMAX, HSY, YHOOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ensco (ESV) downgraded to Neutral from Buy at Guggenheim... Hershey (HSY) downgraded to Neutral from Outperform at Credit Suisse... IMAX (IMAX) downgraded to Neutral from Overweight at Piper Jaffray... K+S (KPLUF) downgraded to Reduce from Neutral at Nomura... Michael Kors (KORS) downgraded to Market Perform from Outperform at William Blair... National Retail Properties (NNN) downgraded to Equal Weight at Morgan Stanley... Nationstar (NSM) downgraded to Underperform from Market Perform at Wells Fargo... Potash (POT) downgraded to Hold from Buy at TD Securities... Ross Stores (ROST) downgraded to Neutral from Buy at Sterne Agee... Software AG (STWRY) downgraded to Hold from Buy at Deutsche Bank... TSMC (TSM) downgraded to Negative from Neutral at Susquehanna... Walter Investment (WAC) downgraded to Underperform from Market Perform at Wells Fargo... Yahoo (YHOO) downgraded to Fair Value from Buy at CRT Capital.
News For ESV;HSY;IMAX;KPLUF;KORS;NNN;NSM;ROST;POT;STWRY;TSM;WAC;YHOO From The Last 14 Days
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July 21, 2014
07:15 EDTYHOOO'Reilly to hold a conference
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July 20, 2014
12:58 EDTTSMTSMC could drop over 10%, Barron's says
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July 18, 2014
16:47 EDTYHOOMarket ends week higher as earnings, M&A offset geopolitical tensions
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13:39 EDTYHOOYahoo News hires Golodryga to head up news and finance properties, Variety says
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11:45 EDTKORSJefferies sees further risk for Michael Kors despite recent decline
Michael Kors' (KORS) margin pressures and slowing same-store sales growth, along with high expectations for the company, are reasons to be cautious on the stock, research firm Jefferies wrote in a note to investors today. The firm cut its price target on the luxury accessories retailer to $80 from $95. WHAT'S NEW: Michael Kors' same-store sales are slowing, while the company's gross margins are coming under pressure due to increased discounts of its products and its roll out of new stores, Jefferies analyst Randal Konik wrote. Additionally, investors' high expectations for the company will make it difficult for the stock to appreciate even if its results beat expectations, the analyst stated. Even with shares pulling back over the past few days, Konik says risk remains skewed to the downside and kept a Hold rating on the stock. Of note, this is the second time in two weeks that Jefferies cut its estimates for the company. WHAT'S NOTABLE: Expressing a very different outlook yesterday on Michael Kors was Credit Suisse analyst Christian Buss. Michael Kors is "one of the least discounted brands available during the seasonal clearance period ahead of early fall shipments" according to Buss, who wrote that he was "compelled" by the recent decline in the stock. The analyst reiterated a $107 price target and Outperform rating on the shares. OTHERS TO WATCH: The company's competitors include Kate Spade (KATE) and Coach (COH). PRICE ACTION: In late morning trading, Michael Kors was nearly flat near $82 per share.
11:34 EDTKORSOptions with increasing implied volatility
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11:25 EDTYHOOOptions with decreasing implied volatility
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08:31 EDTPOTPotash Corp BG Mosaic could become BHP takeover targets, says Bernstein
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07:32 EDTKORSMichael Kors price target lowered to $80 from $95 at Jefferies
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07:20 EDTTSMLG Display added to Asia Focus List, TSMC removed at JPMorgan
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July 17, 2014
14:52 EDTYHOOYahoo Sports, NBC Sports announce expanded fantasy football coverage
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14:30 EDTTSMFujitsu to exit chip making, sell plants to ON Semi, United Micro, Nikkei says
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13:14 EDTKORSMichael Kors rises after analyst sees less discounting than peers
Shares of accessories designer Michael Kors (KORS) are slightly higher in a down market after Credit Suisse said that the company's brands are less likely to be on sale than those of its competitors. WHAT'S NEW: In a note to investors, Credit Suisse analyst Christian Buss wrote that Michael Kors' products are "one of the least discounted brands available during the seasonal clearance period ahead of early fall shipments." At mid-tier department stores, 25% of Michael Kors' products are on sale with an average markdown of 27%, Buss reported. On average, 35% of the products of the company's peers are on sale, at an average discount of 27%, the analyst stated. Additionally, Michael Kors' channel strategy provides it with multiple advantages, including brand integrity and limits on markdowns, Buss believes. Buss wrote that he was "compelled" by the recent drop in the stock, and reiterated a $107 price target and Outperform rating on the shares. WHAT'S NOTABLE: Also upbeat on Michael Kors today was research firm Canaccord. Markdowns of the company's products are not any larger than last year, and concerns about large discounts on its products have created a buying opportunity, the firm contended. Canaccord continues to believe that the accessories maker has strong long-term growth opportunities, and it kept a $123 price target and Buy rating on the shares. PRICE ACTION: In mid-afternoon trading, Michael Kors gained 2% to $83. Two of the company's competitors, Coach (COH) and Kate Spade (KATE), rose fractionally.
11:48 EDTKORSStocks with call strike movement; ADSK KORS
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11:23 EDTKORSOptions with increasing implied volatility
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11:12 EDTYHOOOptions with decreasing implied volatility
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08:42 EDTYHOOCBS, Yahoo among potential CNN buyers if Time Warner divests, WSJ says
If Time Warner (TWX) were to divest CNN, which has been raised as a possiblity given the interest in Time Warner expressed by Fox News owner 21st Century Fox (FOXA), the "long list of potential buyers" would include CBS (CBS), Yahoo (YHOO) and Bloomberg LP, said The Wall Street Journal, citing media analysts and executives. Reference Link
07:57 EDTKORSMichael Kors promo concerns creates buying opportunity, says Canaccord
Canaccord said promotional activity concerns at Michael Kors have created a buying opportunity. The firm said markdowns were no bigger than last year, suggesting a standard seasonal markdown in anticipation of fall deliveries. Canaccord believes long term growth opportunities remain robust at Kors and keeps a Buy rating and $123 price target on the shares.
07:45 EDTKORSMichael Kors discounting well below industry averages, says Credit Suisse
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06:43 EDTTSMTSMC expects to lose out to competitors in 14/16nm segment, DigiTimes says
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