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Stock Market & Financial Investment News

News Breaks
August 4, 2014
13:25 EDTRL, KATE, COH, KORSMichael Kors retreats after reporting margin decline
Shares of luxury accessories maker Michael Kors (KORS) are falling after the company reported stronger than expected results for the first quarter of its fiscal 2015, but said that its gross margins had dropped during the quarter. The company also estimated that its gross margin would drop in fiscal 2015. Analysts were divided on the company's outlook following the results. WHAT'S NEW: Michael Kors reported first quarter earnings per share of 91c, compared with analysts' consensus estimate of 81c. The company's revenue came in nearly $70M above expectations at $919.2M. However, Michael Kors' retail operating margin fell to 29.7% last quarter from 31.7% during the same period a year earlier, partially due to increased discounts. The company warned that its retail gross margin would likely decline about half a percentage point this year. On a positive note, the accessories designer provided fiscal 2015 EPS guidance of $4.00-$4.05, versus analysts' consensus estimate of $3.96. ANALYST REACTION: In a note to investors earlier today, Sterne Agee analyst Ike Boruchow wrote that "red flags abound" for the company. Specifically, Michael Kors' gross margins look poised to come under pressure as its spending is accelerating, the analyst warned. Meanwhile, the company's inventories were "heavy," and its first Fall products were not well-received by customers, the analyst stated. Although it remains to be seen if the red flags will become a "tipping point" for Michael Kors' profitability, investors should stay on the sidelines on the name until the outcome becomes more certain, advised Boruchow, who lowered his price target on the shares to $85 from $92 and kept a Neutral rating on the stock. Conversely, Bank of America Merrill Lynch analyst Robert Ohmes wrote that the "impressive momentum" of Michael Kors should continue, partly due to its expected launch of new products for men this fall, its "impressive" growth in Europe, its launch of 100 new footwear shops, and strong licensing revenue. He expects the company's results to continue beating expectations and said that today's pullback in the stock has created a buying opportunity. OTHERS TO WATCH: Michael Kors' competitors include Coach (COH), Kate Spade (KATE) and Ralph Lauren (RL). PRICE ACTION: In mid-afternoon trading, Michael Kors slumped 6.6% to $76.42.
News For KORS;COH;KATE;RL From The Last 14 Days
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February 2, 2016
09:46 EDTKORSMichael Kors downgraded to Hold from Buy at Standpoint Research
09:28 EDTKORSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Michael Kors (KORS), up 17.3%... Mattel (MAT), up 6.9%... Mallinckrodt (MNK), up 4.3%... Alphabet (GOOGL), up 5%... Dow Chemical (DOW), up 3%... UPS (UPS), up 2.3%. ALSO HIGHER: Netflix (NFLX), up 1.1% after being upgraded to Overweight from Neutral at Piper Jaffray... Hansen Medical (HNSN), up 18.8% after announcing FDA clearance of Magellan Robotic Catheter eKit. DOWN AFTER EARNINGS: Integrated Device (IDTI), down 20%... BP (BP), down 8.5%... Royal Caribbean (RCL), down 7%... Waddell & Reed (WDR), down 5.5%... Archer Daniels Midland (ADM), down 5.5%. ALSO LOWER: Twitter (TWTR), down after being downgraded to Sell from Hold at Stifel... American Campus (ACC), down 1.1% after 15.6M share Spot Secondary priced at $41.25... Horsehead (ZINC), down 47.6% after filing for Chapter 11 protection in Delaware.
09:22 EDTKORSMichael Kors gaps sharply higher
The stock was last at $47.17 in the pre-market, up over 16.4%. At that price next resistance is at $47.92. Support is at $44.91.
08:47 EDTKORSMichael Kors says footwear seeing 'huge lift' in e-commerce performance
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08:32 EDTKORSMichael Kors says mobile traffic to site 'keeps accelerating every single month'
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08:29 EDTKORSMichael Kors sees foreign currency impacting Q4 EPS by approx. 2c per share
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06:59 EDTKORSMichael Kors sees FY16 EPS $4.38-$4.42, consensus $4.33
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06:57 EDTKORSMichael Kors sees Q4 EPS 93c-97c, consensus $1.00
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06:56 EDTKORSMichael Kors reports Q3 EPS $1.59, consensus $1.46
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February 1, 2016
14:32 EDTKORSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Exxon Mobil (XOM), consensus 64c... Pfizer (PFE), consensus 52c... United Parcel Service (UPS), consensus $1.42... Dow Chemical (DOW), consensus 70c... Emerson Electric (EMR), consensus 51c... Archer-Daniels-Midland (ADM), consensus 66c... Baxter (BAX), consensus 32c... Sirius XM (SIRI), consensus 3c... Royal Caribbean Cruises (RCL), consensus 92c... Ally Financial (ALLY), consensus 51c... Michael Kors (KORS), consensus $1.46... ADT Corp. (ADT), consensus 46c.
13:41 EDTKORSMichael Kors February weekly 40.5 straddle priced for 9.3% movement into Q3
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12:41 EDTKORSEarnings Watch: Analyst urges 'another look' at Michael Kors ahead of Q3 report
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11:42 EDTKORSStocks with call strike movement; YHOO KORS
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10:15 EDTCOHOptions with decreasing implied volatility
Options with decreasing implied volatility: INVN SWFT SNDK AMZN NOW COH VMW CTXS STX
08:09 EDTKORSOptions expected to be active
Options expected to be active: GOOGL GOOG YHOO UPS KORS UPS BAX RCL CCL PFE AET D STR DWA CMG ABT SYK.
07:35 EDTRLRalph Lauren may be next big turnaround in softlines, says UBS
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07:28 EDTKORSJefferies tells investors to take another look at Michael Kors
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January 29, 2016
10:10 EDTCOHOptions with decreasing implied volatility
Options with decreasing implied volatility: ETE INVN FTNT VMW CTXS NOW COH AMZN NWL NYRT
09:03 EDTKORSMichael Kors volatility elevated into Q3 and outlook
Michael Kors February weekly call option implied volatility is at 83, February is at 55, March is at 45; compared to its 52-week range of 23 to 58, suggesting large near term price movement into the expected release of Q3 results on February 2.
08:17 EDTCOHCoach price target raised to $42 from $38 at Cowen
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