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Stock Market & Financial Investment News

News Breaks
May 9, 2014
10:50 EDTARO, EXPR, ANF, APP, GPSGap advances after April sales beat expectations
Shares of specialty apparel company The Gap (GPS) are rising after the company’s April same-store sales and its first quarter revenue beat expectations. WHAT'S NEW: Last night, Gap reported first quarter revenue of $3.77B, topping the consensus view of $3.69B. The company’s comparable sales for Q1 decreased 1%. Gap reported April same-store sales increased 9%, with Gap brand comparable sales up 3%; Banana Republic SSS up 7% and Old Navy up 18%. WHAT’S NOTABLE: Gap forecast Q1 earnings per share of 56c-57c, ahead of expectations of 53c. The company expects that for Q1 its gross margins will decline less than the year-over-year decline in Q4. In addition, the company expects Q1 operating expenses to be slightly above last year. PRICE ACTION: In morning trading, Gap is up $1.58, or about 4%, to $40.82 on heavy trading volume. Including today’s advance, the stock has gained about 5% over the past twelve months. OTHERS TO WATCH: Others in the apparel space include Abercrombie & Fitch (ANF), Aeropostable (ARO), American Apparel (APP), and Express (EXPR).
News For GPS;ANF;ARO;APP;EXPR From The Last 14 Days
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May 27, 2015
11:18 EDTANFEarnings Watch: Abercrombie could provide 'depressing' guidance, analyst says
Abercrombie & Fitch (ANF) is scheduled to report first quarter earnings before the market open on Thursday, May 28 with a conference call scheduled for 8:30 am EDT. Abercrombie & Fitch is a retailer of casual apparel for men, women and kids. EXPECTATIONS: Analysts are looking for a loss per share of (34c) on revenue of $730.91M, according to First Call. The consensus range for EPS is (60c)-(12c) on revenue of $685.26M-$788M. LAST QUARTER: Abercrombie & Fitch reported fourth quarter adjusted earnings per share of $1.15 on revenue of $1.12B, against estimates for $1.15 and $1.17B, respectively. Comparable store sales declined 10% during the quarter. Abercrombie & Fitch said that as it gets greater visibility to the timing and impact of its on-going strategic initiatives, it expects to resume providing EPS and SSS guidance guidance. Regarding SSS, the company said it expects the negative impact from reduced logo sales to modestly abate in the first half of the fiscal year and neutralize in the second half of the fiscal year. Abercrombie said the first half of FY15 would be "challenging" and forecast significant headwinds from foreign currency in FY15. NEWS: At the Telsey Advisory Group's Spring Consumer Conference in March, Abercrombie reiterated its forecast for "significant" foreign currency headwinds in 2015. The company said it was "fully aware" of the challenges the company is facing and was on the "right path" to improve profitability. Abercrombie forecast FY15 capital expenditures of approximately $150M and forecast continued pressure from reduced logos and gross margin flat to slightly up. The retailer said it views ongoing expense reduction as a "way of life" going forward. During the quarter, Bloomberg reported that Abercrombie & Fitch will retire its "appearance and sense of style" hiring rule for employees. Abercrombie brand President Christos Angelides and Hollister brand President Fran Horowitz said the changes to the dress code are part of their plan to cater to more shoppers. New York Attorney General Eric Schneiderman sent letters to Abercrombie and other retailers in April over staffing practices and whether the company requires workers to show up or stay home with little notice, according to The Wall Street Journal. STREET RESEARCH: During the quarter, Abercrombie & Fitch was initiated at BB&T with a Hold rating and with an Underperform rating and $17 target at RBC Capital. Wunderlich expects A&F's results will be a "very painful slog" for shareholders, adding that if the company does give guidance, "expect it to be depressing." The firm, which cut its price target for shares to $15 from $17 and reiterated a Sell rating, believes a turnaround is not in sight. PRICE ACTION: Abercrombie & Fitch shares slid 1% to $19.88 in morning trading, putting the stock down about 19.5% over the last three months.
10:58 EDTANFAbercrombie & Fitch May weekly volatility elevated into Q1 and outlook
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May 26, 2015
11:37 EDTEXPRExpress lower promotional activity a good sign for earnings, says Piper Jaffray
Piper Jaffray said its checks indicate Express had only five days in Q1 during which the entire store was discounted, which is down significantly from 20 such days in Q1 of last year, which bodes well for its margins and EPS. The firm believe the company has the potential for significant margin expansion in 2015 and over the next few years and reiterates its Overweight rating and $21 price target on the stock ahead of its Q1 report, which is due on Thursday, May 28.
10:13 EDTEXPRHigh option volume stocks
High option volume stocks: GFI EAT DSKY CHTR BID ADTN BLMN EXPR YCS NUVA
07:56 EDTANFWunderlich sees Abercrombie Q1 as 'very painful slog'
Wunderlich expects Abercrombie & Fitch's Q1 results on Thursday to be a "very painful slog" for investors. If management does provide guidance, "expect it to be depressing," Wunderlich tells investors in a research note. The firm believes a turnaround is not in sight and points to mounting currency headwinds and a "weak" teen apparel environment. It lowered its price target for A&F shares to $15 from $17 and reiterates a Sell rating on the name.
May 22, 2015
09:25 EDTAROOn The Fly: Pre-market Movers
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07:44 EDTGPSGap turnaround timing remains uncertain, says UBS
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07:14 EDTGPSCredit Suisse remains cautious on The Gap
Credit Suisse believes The Gap's (GPS) core brand continues to struggle and is losing relevance with consumers. The firm's analyst said Gap brand's value proposition is being eroded by the rise of low-cost "deep value" retailers with efficient supply chains and lower markdown risk. Credit Suisse said Gap's supply chain is reliant on long-lead times and design teams removed from production, which should lead to comp and earnings pressure. Credit Suisse rates The Gap an Underperform with a $34 price target.
May 21, 2015
20:08 EDTGPSAnalysts unimpressed by Gap's Q1 results
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18:49 EDTAROOn The Fly: After Hours Movers
UP AFTER EARNINGS: Hewlett-Packard (HPQ), up 1%. ALSO HIGHER: Autobytel (ABTL), up 14.1% after acquiring Dealix Corporation and Autotegrity from CDK Global (CDK) for $25M and raising fiscal 2015 guidance... StemCells (STEM), up 2.5% after being initiated with a Buy at Cantor... PTC Therapeutics (PTCT), up 2.3% after a Benefit Assessment by Germany's Federal Joint Committee indicated that Translarna provided a benefit for ambulatory patients... CBOE Holdings (CBOE), up 1.6% after raising share repurchase authorization by $100M... Cypress Semiconductor (CY), up 1.2% after being initiated with a Buy at Mizuho. DOWN AFTER EARNINGS: Aeropostale (ARO), down 18.5%... Brocade (BRCD), down 2.1%... Marvell Technology (MRVL), down 2.9% after reporting quarterly results and departure of CFO. ALSO LOWER: Otonomy (OTIC), down 17.7% following report of Phase 2b topline data for OTO-104... Viggle (VGGL), down 18.8% after filing to sell common stock... CEL-SCI (CVM),down 2.7% after announcing a proposed offering of common stock and warrants.
17:05 EDTAROAeropostale down 19% after reporting Q1 earnings, Q2 guidance
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16:03 EDTAROAeropostale sees Q2 EPS (52c)-(60c), consensus (37c)
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16:02 EDTGPSGap backs FY15 EPS $2.75-$2.80, consensus $2.78
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16:02 EDTAROAeropostale reports Q1 adjusted EPS (56c), consensus (55c)
Reports Q1 revenue $318.6M, consensus $325M. Comparable sales, including the e-commerce channel, decreased 11%.
16:01 EDTGPSGap reports Q1 EPS 56c, consensus 56c
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15:01 EDTGPS, ARONotable companies reporting after market close
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May 18, 2015
20:16 EDTANFUrban 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).
May 15, 2015
17:31 EDTAPPAmerican Apparel sues Dov Charney for violations of Standstill Agreement
American Apparel filed suit in the Delaware Court of Chancery against Dov Charney, the former CEO, for violations of his Standstill Agreement with the company.
08:24 EDTEXPRAmerican Eagle, Express should be bought ahead of results, says BMO Capital
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May 14, 2015
10:09 EDTEXPRIncreasing equity options volume on open
Increasing equity options volume on open: ONTY CBRL PBYI GWW AXLL IEV KSS EXPR UEC JACK
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