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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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December 17, 2014
16:23 EDTCOHCoach initiated with a Perform at Oppenheimer
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16:21 EDTKORSMichael Kors initiated with a Perform at Oppenheimer
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December 16, 2014
12:51 EDTCOHCoach initiated with a Market Perform at Cowen
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10:26 EDTKORSMichael Kors management to meet with Jefferies
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10:12 EDTKATEKate Spade initiated with an Outperform at Cowen
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10:11 EDTKORSMichael Kors initiated with a Market Perform at Cowen
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09:59 EDTRLOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
December 15, 2014
16:18 EDTRLRalph Lauren initiated with an Outperform at Cowen
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11:12 EDTKORSMichael Kors management to meet with Jefferies
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December 12, 2014
14:25 EDTCOHCoach moves higher, levels to watch
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05:54 EDTCOHStocks with implied volatility movement; COH CX
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December 11, 2014
14:27 EDTCOHLVMH not likely interested in Coach, says Evercore ISI
Evercore ISI said LVMH (LVMUY) is not likely interested in acquiring Coach (COH). The firm said LVMH has put a lot of marketing and investment behind the Marc Jacobs label and is unlikely to acquire another aspirational brand at this point.
10:33 EDTCOHCoach calls active after website says LVMH showing interest
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10:13 EDTCOHCoach spikes after website says LVMH showing interest
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09:53 EDTCOHLVMH has shown interest in Coach, Prime Retailer reports
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09:49 EDTCOHLVMH has shown interest in Coach, PrimeRetailer says
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December 9, 2014
10:23 EDTKORS, KATE, COHOn The Fly: Analyst Initiation Summary
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07:05 EDTCOHCoach initiated with an Equal Weight at Stephens
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06:53 EDTKATEKate Spade initiated with an Equal Weight at Stephens
Target $33.
06:53 EDTKORSMichael Kors initiated with an Overweight at Stephens
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