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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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May 20, 2015
08:02 EDTAEOAmerican Eagle sees Q2 EPS 11c-14c, consensus 11c
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08:01 EDTAEOAmerican Eagle reports Q1 EPS 15c, consensus 12c
Reports Q1 revenue $699.5M, consensus $692.32M. Consolidated comparable sales increased 7%, compared to a 10% decrease last year.
May 19, 2015
15:40 EDTAEOAmerican Eagle volatility elevated into Q1 and outlook
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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 EDTAEO, ANFUrban 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
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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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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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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