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Stock Market & Financial Investment News

News Breaks
March 12, 2014
10:32 EDTEXPR, AEO, URBNExpress 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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November 18, 2014
05:48 EDTURBNUrban Outfitters downgraded to Market Perform from Outperform at William Blair
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November 17, 2014
18:32 EDTURBNOn The Fly: After Hours Movers
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18:02 EDTURBNUrban Outfitters says expects to open 35-40 stores in FY15
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16:16 EDTURBNUrban Outfitters CEO says disappointed by results at Urban Outfitters brand
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16:09 EDTURBNUrban Outfitters down 3% following Q3 results
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16:02 EDTURBNUrban Outfitters total inventories increased by $60M as of October 31
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16:01 EDTURBNUrban Outfitters reports Q3 SSS down 1%
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16:01 EDTURBNUrban Outfitters reports Q3 EPS 35c, consensus 41c
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15:16 EDTURBNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Agilent Technologies (A), consensus 89c; Jacobs Engineering (JEC), consensus 86c; Urban Outfitters (URBN), consensus 41c; Omega Protein (OME), consensus 30c.
12:38 EDTURBNUrban Outfitters technical comments ahead of earnings
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11:11 EDTURBNHigh option volume stocks:
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07:46 EDTURBNUrban Outfitters risk/reward remains attractive, says Brean Capital
Brean Capital said the risk/reward for Urban Outfitters remains attractive ahead of its Q3 results, with the firm citing the company's strong balance sheet, solid customer engagement, and potential for top and bottom line expansion. Brean Capital reiterated its Buy rating and $40 price target on Urban Outfitters shares.
07:05 EDTURBNUrban Outfitters volatility elevated into Q3 and outlook
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November 14, 2014
10:00 EDTURBNOn The Fly: Analyst Downgrade Summary
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06:23 EDTAEOAmerican Eagle implied volatility of 59 at upper end of index mean range
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05:45 EDTURBNUrban Outfitters downgraded to Neutral from Buy at Mizuho
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November 13, 2014
10:19 EDTURBNUrban Outfitters volatility up into Q3 and holiday sales outlook
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November 12, 2014
10:00 EDTAEOAmerican Eagle rises on raised Q3 guidance, levels to watch
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08:03 EDTAEOAmerican Eagle raises Q3 adjusted EPS view to 22c from 17c-19c
Consensus is 18c. Including restructuring and asset impairment charges of (17c), GAAP earnings are estimated to be 5c per share. Last year, the company earned adjusted EPS of 19c in the third quarter, which excluded asset impairment charges of (6c). The earnings improvement over last year was primarily due to an improvement in markdowns and lower expenses. Third quarter net revenues declined slightly on a comparable sales decline of 5%. The EPS guidance excludes charges of approximately (17c) primarily due to store impairments and corporate overhead reductions related to the company’s profit improvement initiatives. These actions are expected to enable the company to fund key initiatives and generate savings to strengthen future earnings. “Third quarter earnings exceeded our expectations and margins were ahead of last year. We are encouraged by our ability to reduce promotional activity, particularly given the challenging and highly promotional retail climate,” said Jay Schottenstein, Interim CEO. “The team is making steady progress on merchandise improvements. Yet as we approach the holidays, we remain cautious given the ongoing weakness in mall traffic. The restructuring activities reflect our resolve to strengthen our business to deliver higher profitability and returns to shareholders.” Third quarter ending inventories are expected to be down, consistent with prior guidance.
06:00 EDTAEOAmerican Eagle implied volatility of 60 at upper end of index mean range
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