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Stock Market & Financial Investment News

News Breaks
March 12, 2014
10:32 EDTAEO, URBN, EXPRExpress tumbles after earnings, guidance disappoint
Shares of apparel and accessory retailer Express (EXPR) are tumbling after the company reported fourth quarter earnings per share that fell below analysts' expectations and also guided below analysts' expectations for the new quarter and fiscal year. WHAT'S NEW: Express reported fourth quarter earnings per share of 57c, which fell slightly below analysts' consensus of 59c. The company's revenue of $715.88M was also lower than the consensus estimate of $721.13M. Express blamed a heavier than planned pace of promotions as a major impact to its top line and margins. Express sees FY14 same-store sales in the negative low single digits to flat. The company also guided first quarter earnings per share of 12c-18c, well below analysts' estimations of 41c, and FY14 earnings per share of $1.03-$1.23, missing the $1.58 consensus. Express said the start of FY14 has been "extremely difficult," citing significantly lower traffic, negative comparable sales and the promotional environment remaining intense. The retailer said it expects the promotional environment will continue and that full-year results will be impacted right from the beginning, but it feels optimistic that earnings per share growth will return in the second half of FY14. OTHERS TO WATCH: Retail rivals to Express include American Eagle (AEO) and Urban Outfitters (URBN), both of whom reported on their own fourth quarters in the last two days. It is notable that both American Eagle and Urban Outfitters were downgraded this morning, with Morgan Stanley downgrading American Eagle to Underweight from Equal Weight and Urban Outfitters being downgraded to Equal Weight from Overweight at Barclays. PRICE ACTION: During morning trading, shares of Express fell 10.3% to $16.36.
News For EXPR;URBN;AEO From The Last 14 Days
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February 27, 2015
10:12 EDTURBN, EXPR, AEOGap rises after Q4 earnings top forecast, capital return plans announced
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February 26, 2015
16:53 EDTURBNUrban Outfitters authorizes repurchase of 20M shares
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February 25, 2015
10:10 EDTURBNBofA/Merrill retail analysts hold an analyst/industry conference call
Head of European General Retail Equity Research Steegers, along with Head of U.S. General Retail Equity Research Hutchinson, discuss the global apparel sector, focusing on international expansion, pricing and sustainability of margins and returns on an Analyst/Industry conference call to be held on February 25 at 10 am.
February 24, 2015
12:22 EDTAEOOn The Fly: Analyst Initiation Summary
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10:00 EDTAEOOn The Fly: Analyst Upgrade Summary
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09:28 EDTAEOAmerican Eagle initiated with a Buy at BB&T
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09:10 EDTAEOAmerican Eagle upgraded to Outperform from Market Perform at Telsey Advisory
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08:19 EDTAEOAmerican Eagle identified as favorite name for Spring at BMO Capital
BMO Capital named American Eagle as its favorite apparel retailer for spring, as the firm expects the company to benefit from the 70s Style fashion trend. .
February 18, 2015
10:05 EDTEXPROn 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.
06:51 EDTEXPRExpress upgraded on lower promotional activity at Piper Jaffray
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05:44 EDTEXPRExpress upgraded to Overweight from Neutral at Piper Jaffray
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