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Stock Market & Financial Investment News

News Breaks
April 11, 2014
13:36 EDTANF, TLYS, GPS, AEO, APPGap 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
Check below for free stories on GPS;AEO;APP;ANF;TLYS the last two weeks.
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July 23, 2014
18:05 EDTAPPAmerican Apparel names four new board members, including one woman
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13:13 EDTAPPAmerican Apparel hopes to resolve Dov Charney situation by August, Reuters says
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July 22, 2014
09:32 EDTANFAbercrombie & Fitch Q2 revenues tracking below consensus, says ITG Research
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July 21, 2014
14:02 EDTGPSGap expands brand to Slovenia and Austria
Gap announced that it will introduce the Gap brand to Slovenia and Austria through agreements with new and existing franchise partners. Magistrat International has been selected for the launch of Slovenia and Gottex, which currently manages the Gap franchise business in Israel and Hungary, will launch Austria. Gap has signed a new agreement with Magistrat International to open three stores for the first time later this year in the capital city of Ljubljana. City Park. All locations are scheduled to open by September this year. Gap will also open its first store in Vienna, Austria this October through an existing relationship with Gottex Brands, which is a part of the Trimera Group.
11:04 EDTANFOptions with increasing implied volatility:
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July 18, 2014
17:25 EDTAPPStandard General working with American Apparel to restructure loan
On July 16, Lion/Hollywood assigned its rights and obligations as a lender under the credit agreement dated as of May 22, 2013 by and among the company, the facility guarantors party thereto, Lion/Hollywood as the initial lender and the other lenders party thereto to Standard General. Standard General purchased the loan in order to resolve any disputes over any alleged events of default under the credit agreement and does not believe that there has been an event of default under the credit agreement. Standard General is working with American Apparel to restructure the loan. As previously discussed on July 11, Standard General is prepared to lend its credibility and capital resources to assist American Apparel in accordance with the support agreement described therein.
July 17, 2014
18:43 EDTAPPAmerican Apparel investor close to buying Lion's $10M loan, Bloomberg says
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09:47 EDTAPPAmerican Apparel shareholders says firm endured 'serious damage' to reputation
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06:47 EDTAPPStandard General plans American Apparel future without ex-CEO, Reuters says
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July 11, 2014
09:09 EDTGPSOn The Fly: Pre-market Movers
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July 10, 2014
18:35 EDTGPSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Joe's Jeans (JOEZ), up 15.5% after reporting second quarter results above analyst estimates... Barracuda Networks (CUDA), up 2.2% after reporting quarterly results and guidance... DOWN AFTER EARNINGS: PriceSmart (PSMT), down 3.7% after reporting third quarter revenue below analyst estimates... Rent-A-Center (RCII), down 11% after reporting disappointing preliminary second quarter results. ALSO LOWER: Gap (GPS), down 2% after reporting June Same Store Sales down 2%... Arotech (ARTX), down 5.6% after filing an automatic common stock shelf... NOTABLE: MGIC Investment (MTG), down 4.8% and Radian Group (RDN), down 3.8% following the FHFA proposal to tighten capital rules for mortgage insurers.
16:03 EDTGPSGap reports June net sales up 1%, SSS down 2%
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11:18 EDTAEOZumiez rallies after raising second quarter outlook
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