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Stock Market & Financial Investment News

News Breaks
April 11, 2014
13:36 EDTANF, TLYS, GPS, APP, AEOGap falls after experiencing sharp decline in March SSS
Shares of apparel retailer Gap (GPS) are tumbling after the company reported a sharp decline in its March same-store sales yesterday. WHAT'S NEW: Gap reported that its same-store-sales in March declined 6% versus a 1% decrease last year. Broken down by division, same-store-sales for Gap Global were down 7% versus flat last year, Banana Republic Global declined 4% compared to a 1% gain last year and Old Navy Global fell 7% versus a 2% decline last year. Gap also reaffirmed its FY14 earnings per share view of $2.90-$2.95, which is slightly below analysts' consensus of $2.96. Last month, the retailer said that it expected March to be negatively impacted due to Easter occurring in April this year versus March last year. ANALYST REACTION: Today, Janney Capital downgraded Gap to Neutral from Buy and said the retailer's inventory continues to grow faster than sales and that promotions continue to infer a highly competitive backdrop. The firm lowered its fair value estimate for shares to $41 from $50. Janney Capital analysts Adrienne Tennant and Gabriella Carbone said that they expect the retail environment for Gap to still be challenging in the first half of FY14 and feel that SG&A control, margin-driven incentives, and ongoing buyback activity are imperative to help fuel earnings per share. Based on the weak patterns so far in the first quarter, the analysts said that they are lowering their estimates for the quarter to $2.89 from $2.95, consensus $2.96. They are also lowering their FY15 earnings per share view to $3.18 from $3.30. To reflect the spring break/Easter shift from March into April, the analysts are projecting a 1% decline for April comp. OTHERS TO WATCH: Gap's competitors include American Eagle Outfitters (AEO), American Apparel (APP), Abercrombie & Fitch (ANF) and Tilly’s (TLYS). PRICE ACTION: During afternoon trading, shares of Gap are down 79c, or 2.01%, to $38.50.
News For GPS;AEO;APP;ANF;TLYS From The Last 14 Days
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May 19, 2015
15:29 EDTAEOAmerican Eagle technical comments before earnings
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15:00 EDTAEONotable companies reporting before tomorrow's open
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08:00 EDTAEOAmerican Eagle announces license agreements in South Korea, Singapore, Greece
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May 18, 2015
20:16 EDTANF, AEOUrban Outfitters down over 16% after disappointing Q1 results
Urban Oufitters (URBN) is down sharply after reporting first quarter earnings per share and revenue that missed analyst estimates. WHAT'S NEW: Urban Oufitters reported Q1 EPS of 25c on revenue of $739.01M, below consensus expectations of 30c and $758.25M, respectively. Urban Outfitters also reported Q1 comparable retail segment net sales up 4%, with Q1 retail segment net sales increasing 17% at Free People, 5% at Urban Outfitters, and 1% at the Anthropologie Group. Wholesale segment net sales rose 18%. WHAT'S NOTABLE: On its Q1 earnings conference call, Urban Outfitters announced that Urban Outfitters Group CEO Ted Marlow, who oversaw the direction of the namesake brand, would retire at the end of August. While Urban Outfitters did not provide guidance, Urban Outfitters Anthropologie Group CEO David McCreight commented on the Anthropologie brand, "We're expecting we could see Q2 shaping up like Q1 in terms of low single-digit comps. We could also see being in the low-mid-single digit comps. It's hard to tell at this point." ANALYST REACTION: Two analyst firms lowered their respective price targets on Urban Outfitters following the company's earnings report. Sterne Agee, which rates Urban Outfitters a Neutral, lowered its 12-month price target to $34 from $46, noting the company has had trouble getting both its Urban Outfitters and Anthropologie brands to perform at the same time. Cantor, which maintained its Buy rating, lowered its price target to $53 from $54, saying that Anthropologie sales disappointed, but noting that a "later catalog release appears to us to have pushed some sales at Anthropologie into May." PRICE ACTION: Urban Outfitters fell 16.4% to just over $34 in after-hours trading. PEERS: Other publicly traded companies in the space include Abercrombie & Fitch (ANF), American Eagle (AEO), Five Below (FIVE), Pacific Sunwear (PSUN), and Zumiez (ZUMZ).
12:01 EDTAEOAmerican Eagle management to meet with Guggenheim
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May 15, 2015
17:31 EDTAPPAmerican Apparel sues Dov Charney for violations of Standstill Agreement
American Apparel filed suit in the Delaware Court of Chancery against Dov Charney, the former CEO, for violations of his Standstill Agreement with the company.
08:24 EDTAEOAmerican Eagle, Express should be bought ahead of results, says BMO Capital
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07:41 EDTAEOAmerican Eagle volatility elevated into Q1 and outlook
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May 13, 2015
10:01 EDTAEOOn The Fly: Analyst Upgrade Summary
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09:27 EDTAPPAmerican Apparel sued by former CEO Charney, alleging defamation
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06:08 EDTAEOAmerican Eagle upgraded to Outperform from Market Perform at Cowen
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May 12, 2015
10:01 EDTGPSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AG Mortgage (MITT) downgraded to Market Perform from Outperform at Keefe Bruyette... Brookfield Renewable (BEP) downgraded to Underperform from Neutral at Credit Suisse... Emera (EMRAF) downgraded to Equal Weight from Overweight at Barclays... Fibria Celulose (FBR) downgraded to Neutral from Buy at Citigroup... First Marblehead (FMD) downgraded to Neutral from Buy at Compass Point... First Security (FSGI) downgraded to Market Perform from Outperform at Raymond James... Gap (GPS) downgraded to Market Perform from Outperform at FBR Capital... Intelsat (I) downgraded to Underweight from Equal Weight at Morgan Stanley... LivePerson (LPSN) downgraded to Neutral from Outperform at Credit Suisse... MercadoLibre (MELI) downgraded on valuation, difficult comps at Stifel... Midway Gold (MDW) downgraded to Underperform from Outperform at RBC Capital... Numerex (NMRX) downgraded to Market Perform from Outperform at Northland... Portland General Electric (POR) downgraded to Neutral from Overweight at JPMorgan... Rackspace (RAX) downgraded to Outperform from Buy at CLSA... Rosetta Resources (ROSE) downgraded to Sector Weight from Overweight at KeyBanc... SouFun (SFUN) downgraded to Hold from Buy at Deutsche Bank... Verizon (VZ) downgraded to Underperform from Neutral at Macquarie.
06:24 EDTGPSGap downgraded to Market Perform from Outperform at FBR Capital
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May 11, 2015
17:55 EDTGPSGap price target lowered to $44 from $47 at Cantor
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17:28 EDTAPPAmerican Apparel announces $10M at-the-market offering
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16:06 EDTGPSGap down 1.2% after reporting April, Q1 same-store sales
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16:05 EDTGPSGap sees Q1 EPS 55c-56c, consensus 55c
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16:04 EDTGPSGap reports Q1 SSS down 4%
Gap reported Q1 net sales decreased 3% to $3.66B, compared with $3.77B for the first quarter last year. The translation of net sales in foreign currencies into U.S. dollars negatively impacted the company’s reported sales for Q1 by about $90M, primarily due to the weakening Japanese yen and Canadian dollar. On a constant currency basis, net sales for the first quarter of fiscal year 2015 decreased 1% compared with last year. Gap Inc.’s comparable sales for Q1 were down 4%, versus negative 1% last year. Comparable sales by global brand for the first quarter were as follows: Gap Global: negative 10%; Banana Republic Global: negative 8%; Old Navy Global: positive 3%.
16:02 EDTGPSGap reports April SSS down 12%
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06:10 EDTAEOStocks with implied volatility above IV index mean; AEO CBI
Stocks with implied volatility above IV index mean; American Eagle (AEO) 42, Chicago Bridge & Iron (CBI) 55 according to iVolatility.
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