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Stock Market & Financial Investment News

News Breaks
August 22, 2014
12:08 EDTGES, GPS, AEO, BKE, ANFGap 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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August 26, 2015
09:25 EDTANFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), down 15.1%... Express (EXPR), up 9.8%... Frontline (FRO), up 10.4%... Chico's FAS (CHS), up 9.3%. ALSO HIGHER: Oshkosh (OSK), up 11.9% after being awarded a $6.7B contract by the U.S. Army... EMC Corporation (EMC), up 5.8% after Re/code reported that the board is considering a VMware (VMW) downstream merger proposal... Google (GOOG), up 4.6% after being upgraded to Conviction Buy from Neutral at Goldman... Ford (F), up 2.4% after Bloomberg reported that the company is considering returning production of Bronco and Ranger to the U.S. NOTABLE: Cameron International (CAM), up 45.4% after announcing that it will be acquired by Schlumberger (SLB). Schlumberger is down 1.9%. LOWER: WisdomTree (WETF), down 3.6% after being downgraded to Sell from Buy at Citi... Transocean (RIG), down 3.4% after proposing to cancel Q3 and Q4 dividends.
09:11 EDTANFAbercrombie & Fitch says still making adjustments to prices at Abercrombie brand
08:53 EDTANFAbercrombie & Fitch says new CEO to be appointed 'in due time'
Says recognizes company "still has much to achieve." Says "not naive about the challenges that we face." Says has "intense focus" on productivity improvements. Says "on the right track" to restoring business to health. Sees redesigning eight more Hollister stores this year. Says mobile accounts for 50% of online traffic. Says believes logo will no longer be a headwind going forward. Says new CEO will be appointed "in due time." Says board "deeply engaged" in CEO search. Comments made on the Q2 earnings conference call.
08:11 EDTANFAbercrombie & Fitch sees SSS trends improving in 2H, skewed towards Q4
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07:32 EDTANFAbercrombie & Fitch reports Q2 adj. EPS 12c, may not compare to consensus (4c)
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August 25, 2015
15:00 EDTANFNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Chico's (CHS), consensus 22c... Express (EXPR), consensus 16c... Abercrombie & Fitch (ANF), consensus (4c).
14:09 EDTGESGuess volatility elevated into Q2 and outlook
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12:49 EDTANFEarnings Watch: Analysts divided on Abercrombie ahead of Q2 earnings report
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12:39 EDTANFAbercrombie & Fitch technical comments ahead of earnings
The shares are in a downtrend that has persisted since the fall of last year. If the news was a bullish surprise, the first price level of significance would be the channel top at $18.97, which is also the 21-day moving average. Next resistance above the top of the channel would be at $20.31 and then at $21.54. It would take a move above $22 to turn the longer-term trend back toward bullish. If the news continues to be bearish, next support would be at the channel low at the $16.50 area. If price broke the channel low, next support would be at $15.42, the 52-week low. Support below the 52-week low would be at $14.97, which would set a new multi-year low for shares.
08:28 EDTAEOAmerican Eagle upgraded to Outperform on valuation, execution at FBR Capital
As previously reported, FBR Capital upgraded American Eagle to Outperform from Market Perform. The firm upgraded shares based on valuation, consistent execution in a declining backdrop, reduced expectations, and potential 2H upside. The firm is cautious on the environment beyond 2H 2015 but believes strong brand recognition, product execution, right-sized fleet, and international growth position it for upside in a competitive environment.
08:27 EDTAEOAmerican Eagle should be bought at current levels, says Oppenheimer
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06:05 EDTAEOAmerican Eagle upgraded to Outperform from Market Perform at FBR Capital
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August 24, 2015
10:32 EDTANFBattleground: Firms diverge on Abercombie ahead of earnings
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09:45 EDTANFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
07:29 EDTANFAbercrombie & Fitch valuation sets up long-term opportunity, says Susquehanna
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07:15 EDTAEOAmerican Eagle risk/reward remains compelling, says Susquehanna
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06:45 EDTANFAbercrombie & Fitch upgraded to Overweight at Piper Jaffray ahead of earnings
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05:56 EDTANFStocks with implied volatility above IV index mean; ANF WMB
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August 21, 2015
08:06 EDTANFAbercrombie & Fitch August weekly volatility elevated into Q2 and outlook
Abercrombie & Fitch August weekly call option implied volatility is at 108, September is at 70, November is at 52; compared to its 52-week range of 28 to 71, suggesting large near term price movement into the expected release of Q2 results on August 26.
05:49 EDTANFStocks with implied volatility above IV index mean; ANF ATML
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