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Stock Market & Financial Investment News

News Breaks
February 1, 2013
12:09 EDTEXPE, FOSLStocks with call strike movement; FOSL EXPE
RT Options Scanner shows Fossil (FOSL) February 120 call option implied volatility decreased 3% to 60, Expedia (EXPE) February 75 call option implied volatility increased 2% to 61 according to iVolatility.
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August 26, 2014
11:31 EDTFOSLMovado tumbles after second quarter results, outlook miss estimates
Shares of luxury watch maker Movado (MOV) are falling after the company's second quarter results and fiscal 2015 outlook missed analysts' consensus estimates. WHAT'S NEW: This morning, Movado reported Q2 adjusted earnings per share of 44c and revenue of $143.6M, missing analysts' consensus estimates of 54c and $152.99M, respectively. Q2 gross profit was 54% of sales, compared to 54.1% of sales, in the prior year period. Gross margin percentage remained relatively flat as a result of the unfavorable impact of changes in foreign currency exchange rates, offset by the leverage gained on certain fixed costs due to increased sales. WHAT'S NOTABLE: Movado forecast FY15 EPS of $2.44, slightly short of the consensus of $2.46. FY15 revenue was seen at $640M, compared to consensus of $640.17M, while FY15 gross margin is expected to be approximately flat, year over year. Efraim Grinberg, Chairman and CEO, stated , "We anticipate our sales growth to accelerate during the second half of the year, as strong sell-through rates at retail are expected to drive new shipments and replenishment growth and we continue to benefit from the expansion of our Movado and licensed brands around the world. We will also continue to invest in our infrastructure and growth initiatives, including investments in Asia and Latin America. We continue to believe that our strategies have us positioned to achieve our goal of delivering sustainable profitable growth." PRICE ACTION: In late morning trading, Movado fell $3.08, or about 7%, to $40.96 on heavy trading volume. Despite today's pull back, the stock is up almost 8% over the past 12 months. OTHERS TO WATCH: Movado's peer, Fossil Group (FOSL), is up 0.2% on the session.
August 25, 2014
08:44 EDTEXPEExpedia Q3 trends encouraging, says FBR Capital
FBR Capital believes that Q3 U.S. trends indicate that Expedia (EXPE) continues to generate healthy growth. The firm thinks that the company's room night growth and domestic ticket volume growth have accelerated slightly from June levels. FBR expects Expedia to benefit from a change in TripAdvisor's (TRIP) meta path. It keeps an Outperform rating on Expedia.
August 22, 2014
08:38 EDTEXPETripAdvisor cut metasearch inventory in half, says FBR Capital
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