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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
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September 30, 2014
18:21 EDTAPPAmerican Apparel board open to letting ousted CEO Charney stay, Bloomberg says
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September 29, 2014
08:37 EDTAPPAmerican Apparel appoints Scott Brubaker as interim CEO, Hassan Natha as CFO
American Apparel announced the appointment of Scott Brubaker as Interim CEO and Hassan Natha as Executive Vice President and CFO, effective immediately. Brubaker is a Managing Director at Alvarez & Marsal, and replaces John Luttrell as Interim CEO. Natha, who replaces Luttrell as CFO, has more than 20 years of experience in finance with both public and private companies, including service as Chief Financial Officer at Fisher Communications, Inc. and Jones Soda Company. John Luttrell, who had been serving as Interim Chief Executive Officer and Chief Financial Officer, is resigning from the company.
September 19, 2014
10:06 EDTAEOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Buy from Neutral at Goldman... Concur (CNQR) upgraded to Neutral from Sell at Goldman... Continental Resources (CLR) upgraded to Buy from Neutral at Global Hunter... Deutsche Telekom (DTEGY) upgraded to Buy from Neutral at Citigroup... DuPont (DD) upgraded to Buy from Hold at BGC Financial... First Horizon (FHN) upgraded to Outperform from Market Perform at Raymond James... Francesca's (FRAN) upgraded to Buy from Neutral at Buckingham... Guess (GES) upgraded to Neutral from Underperform at Buckingham... National CineMedia (NCMI) upgraded to Outperform from Market Perform at FBR Capital... Patterson-UTI Energy (PTEN) upgraded to Overweight from Equalweight at Capital One... SABMiller (SBMRY) upgraded to Neutral from Reduce at Nomura... Synovus (SNV) upgraded to Strong Buy from Outperform at Raymond James... Texas Capital (TCBI) upgraded to Buy from Hold at Wunderlich... VF Corp. (VFC) upgraded to Buy from Hold at KeyBanc... Zions Bancorp (ZION) upgraded to Strong Buy from Outperform at Raymond James.
06:30 EDTAEOAmerican Eagle upgraded to Buy from Neutral at Goldman
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September 18, 2014
10:57 EDTAEO, ANF, GPSU.S. ITC to investigate 17 denim jean companies for patent infringement
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