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Stock Market & Financial Investment News

News Breaks
August 22, 2014
12:08 EDTBKE, ANF, GES, GPS, AEOGap hits 52-week high following beat and raise quarter
Shares of specialty apparel retailer The Gap (GPS) are advancing after the company posted better than expected second quarter results, and raised its fiscal 2014 profit outlook. WHAT'S NEW: Last night, Gap reported Q2 earnings per share of 75c and revenue of $3.98B, topping analysts’ consensus estimates of 69c and $3.96B, respectively. Q2 same store sales were flat versus the prior year period. WHAT’S NOTABLE: For FY14, Gap raised its EPS view to $2.95-$3.00 from $2.90-$2.95, versus consensus of $2.95. The company updated its guidance for FY14 diluted EPS to reflect the 5c related to the gain on asset sale. For FY14, the company continues to expect capital spending to be approximately $750M in support of its outlined strategies. Gap also announced it will enter India through franchise-operated Gap brand stores in 2015. Gap is partnering with Arvind Lifestyle Brand Limited, a subsidiary of Arvind Limited, which is one of India’s largest textile companies. The first stores are expected to open in India’s two largest cities – Mumbai and Delhi – starting with Gap’s Summer 2015 collection for adults, kids and babies. The brand plans to open about 40 franchise-operated Gap stores in India. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Research firm Janney Capital upgraded Gap to Buy from Neutral. The firm upgraded shares based on the overall improving Softlines sector due to an inventory correction, Old Navy strength, global opportunities, potential improved gross margin returns on inventory investment, and best-in-class management. Their price target on the shares is $51. Another firm, UBS, said Gap is well positioned for second half upside citing its Omni-channel advantage, shift to higher margin businesses, increased square footage, and modestly positive comps driven by ecommerce. UBS has a Buy rating and a $50 price target on the stock. Sterne Agee says Gap’s valuation is very attractive. The firm believes that Gap's fundamentals are improving, while the setup for the stock over the next 12-18 months is favorable. It adds that the company's gross margins should be boosted by several factors going forward, and it kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Gap rose $2.04, or 4.7%, to $45.22 on heavy trading volume. Earlier in the session, it reached a new 52-week high of $45.47. Including today’s advance, the stock has gained over 7.5% over the past twelve months. OTHERS TO WATCH: Other specialty apparel companies include Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Guess (GES), and The Buckle (BKE).
News For GPS;ANF;AEO;GES;BKE From The Last 14 Days
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March 19, 2015
13:00 EDTGESOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
10:42 EDTGESOptions with decreasing implied volatility
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10:23 EDTGESHigh option volume stocks
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10:02 EDTGESGuess extends its post-earnings rally, levels to watch
The shares were strong performers in the after hours session yesterday following stronger than expected earnings. That rally is extending today with the shares up over 14% yto $19.11. At that price, next resistance is at $19.79. Support is at the 50-day moving average at $18.74. The 50-day has been a proxy for a hand-drawn downtrend resistance line since early 2014. A continued rise above it would turn the longer-term trend bullish.
09:20 EDTGESOn The Fly: Pre-market Movers
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07:15 EDTGESGuess should be sold on post-earnings rally, says Piper Jaffray
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06:00 EDTGESGuess implied volatility of 55 at upper end of index
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March 18, 2015
18:32 EDTGESOn The Fly: After Hours Movers
UP AFTER EARNINGS: Guess (GES), up 12.4% after reporting fourth quarter results and guidance... Shoe Carnival (SCVL), up 10%... NQ Mobile (NQ), up 9.1%... Tilly's (TLYS), up 1.3%... Cintas (CTAS), up 1.3% after reporting quarterly results and raising fiscal 2015 guidance. DOWN AFTER EARNINGS: Williams-Sonoma (WSM), down 4.1%... Jabil Circuit (JBL), down 1.8%... Juno Therapeutics (JUNO), down 3.3%. ALSO LOWER: Concert Pharmaceuticals (CNCE), down 4.4% after filing to sell common stock... Tekmira Pharmaceuticals (TKMR), down 3.7% after filing to sell 6M shares of common stock.
16:53 EDTGESGuess sees currency headwind in 2016
Paul Marciano, CEO, commented, "Turning to the outlook for fiscal year 2016, currencies will definitely be a headwind if they stay at current levels. But, as always, we will remain focused on what we can control, like our North America real estate realignment, providing a unique customer experience within our stores, and tightly managing our costs and inventory levels. We will continue investing in our omni-channel strategy globally and expect it to be a growth vehicle for fiscal 2016. We will also continue to leverage the Marciano brand in our North America Guess stores, and I am very confident in our upcoming product lines for fiscal 2016. Of course, all of these efforts are done with two key priorities in mind: improve the profitability of the Company while at the same time protecting our key asset, the Guess Brand."
16:51 EDTGESGuess says Q4 U.S retail SSS decreased 5%
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16:20 EDTGESGuess sees FY16 revenue growth negative 1% to an increase of 1%
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16:19 EDTGESGuess spikes higher after stronger earnings, first look
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16:18 EDTGESGuess sees Q1 revenue growth of 1%-2%, consensus $491.23M
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16:17 EDTGESGuess sees FY16 EPS 75c-90c, consensus $1.04
16:15 EDTGESGuess sees Q1 EPS (3c)-(6c), consensus (3c)
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16:14 EDTGESGuess reports Q4 EPS 63c, consensus 57c
Reports Q4 revenue $696.7M, consensus $704.59M.
15:20 EDTGESNotable companies reporting after market close
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14:34 EDTGESGuess March volatility elevated into Q4 and outlook
Guess March call option implied volatility is at 167, April is at 55, June is at 43, September is at 38; compared to its 26-week average of 36 according to Track Data, suggesting large near term price movement into the expected release of Q4 results today after the market close.
March 17, 2015
14:42 EDTGESGuess March volatility elevated into Q4 and outlook
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07:53 EDTAEOMatson American Eagle Jack Henry named triple play at Oppenheimer
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