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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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July 29, 2015
19:32 EDTEXPROn The Fly: After Hours Movers
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18:06 EDTEXPRS&P announces changes to the S&P 600 index
S&P Dow Jones Indices will make the following changes to the S&P SmallCap 600: Inogen (INGN) will replace Micrel (MCRL) in the S&P SmallCap 600 after the close of trading on Monday, August 3. S&P 500 constituent Microchip Technology (MCHP) is acquiring Micrel in a transaction expected to be completed on or about that date pending final approvals. Express (EXPR) will replace Associated Estates Realty (AEC) in the S&P SmallCap 600 after the close of trading on Wednesday, August 5. Brookfield Asset Management (BAM) is acquiring Associated Estates Realty in a transaction expected to be completed on or about that date pending final approvals.
17:24 EDTEXPRExpress to replace Associated Estates in S&P 600 as of 8/5 close
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06:04 EDTAEOAeropostale downgraded to Sell from Neutral at UBS
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July 23, 2015
07:43 EDTAEOStephens to hold a tour
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