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Stock Market & Financial Investment News

News Breaks
March 10, 2014
07:43 EDTRL, KATEKate Spade looks to grow to rival Ralph Lauren, NY Post says
Kate Spade (KATE) is looking to quadruple retail sales to $4B by growing itself into a global brand that offers everything from apparel to home goods, akin to Ralph Lauren (RL), reported the New York Post, citing Kate Spade CEO Craig Leavitt. Reference Link
News For KATE;RL From The Last 14 Days
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July 31, 2015
15:11 EDTKATEKate Spade volatility elevated into Q2 and outlook
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14:47 EDTRLRalph Lauren volatility elevated into Q1 and outlook
Ralph Lauren August call option implied volatility is at 34, September is at 29; compared to its 52-week range of 14 to 37, suggesting large near term price movement into the expected release of Q1 results on August 5.
July 28, 2015
10:23 EDTKATEBMO Capital says high-end handbag makers to stay weak
High end handbag makers Coach (COH), Kate Spade (KATE) and Michael Kors (KORS) are continuing to struggle and their share prices are likely to remain weak, research firm BMO Capital wrote in a note to investors today. The firm significantly cut its price targets on all three names. WHAT'S NEW: Consumers are spending less on high-end handbags as they increase the amount they allocate to other areas, including travel, leisure and apparel, BMO Capital analyst John Morris stated. Consequently, the North American handbag market was expanding at a 5% rate at the end of June, down from a high single digit rate earlier this year, according to Morris. Meanwhile, competition within the space is mounting and handbag price wars are continuing, the analyst stated. Although handbag stocks have dropped significantly and their valuations appear attractive, they are "falling knives," the analyst warned. Assessing the status of specific companies, Morris says that Kate Spade has avoided implementing major price cuts on its products, though its comparative sales and "mind share" have suffered as a result of that decision and stores are displaying its products less prominently. Coach's stock suggests that investors expect the company's fundamentals to rebound, but Morris thinks that their optimism may be premature. The pace of the company's improvement "remains challenging," and it is likely to be hurt by a decline of U.S. tourism, he believes. Also likely to be hurt by declines in tourism is Michael Kors, the analyst stated. The prices of Michael Kors' products are being reduced by retailers, its gross margins are sinking and its watch business is weak, Morris warned. He reduced his price target on Kate Spade to $19 from $30, on Coach to $28 from $37 and on Michael Kors to $40 from $51. The analyst kept Market Perform ratings on all three stocks. PRICE ACTION: In early trading, Kate Spade was little changed at $18.75, Coach fell 0.5% to $30.60 and Michael Kors was fractionally higher at $39.17.
09:04 EDTKATEHandbag makers estimates, price targets lowered at BMO Capital
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