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Stock Market & Financial Investment News

News Breaks
July 30, 2014
10:30 EDTKORS, KATE, COHMichael Kors risks seen increasing, shares downgraded
Shares of accessories designer Michael Kors (KORS) are falling after research firm Robert W. Baird downgraded the stock in a note to investors earlier today. WHAT'S NEW: There is increased risk to Michael Kors' revenue and profit margins in North America, Baird analyst Mark Altschwager wrote. The firm's survey on handbags suggests that many fewer consumers are looking to buy handbags this quarter than in the prior quarter, the analyst stated. Additionally, the survey suggests that fewer women plan to buy a Michael Kors handbag in Q3 than in Q2, Baird stated. Meanwhile, Internet search trend data indicates that Michael Kors' trends in the U.S. decelerated in July, Altschwager stated. On a positive note, Michael Kors can still meet its guidance for a high teen percentage increase in Q1 comparative sales and the company's European business appears to be strong, the analyst stated. Moreover, the accessories maker's Q1 results and its guidance are likely to be in-line with expectations, Altschwager believes. However, he "sees less room" for the company's Q1 results to beat expectations. The analyst lowered his price target on the shares to $98 from $114 and cut his rating to Neutral from Outperform. WHAT'S NOTABLE: In recent days Topeka, Morgan Stanley, and Piper Jaffray recommended buying Michael Kors' stock following its weakness. However, BMO Capital called the stock overvalued and Citigroup wrote that its own survey showed that Michael Kors' watch sales were moderating. PRICE ACTION: In early trading, Michael Kors fell 1% to $82.91. Other companies in the space were mixed, as Coach (COH) gained 1.4% to $34.83 and Kate Spade (KATE) lost 0.6% to $38.45.
News For KORS;COH;KATE From The Last 14 Days
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April 24, 2015
07:49 EDTCOHCoach May weekly volatility elevated into Q3 and outlook
Coach May weekly call option implied volatility is at 68, May is at 40, June is at 30, August is at 29; compared to its 26-week average of 30 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on April 28.
April 23, 2015
10:06 EDTKATEKate Spade May call activity attributed to takeover chatter
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06:03 EDTKORSMichael Kors implied volatility of 24 at lower end of index mean range
April 22, 2015
06:00 EDTKORSMichael Kors implied volatility of 25 at lower end of index mean range
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April 21, 2015
10:01 EDTCOHOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Agios Pharmaceuticals (AGIO) initiated with a Perform at Oppenheimer... Bed Bath & Beyond (BBBY) initiated with a Buy at Cantor... BioCryst (BCRX) initiated with an Outperform at FBR... Bovie Medical (BVX) initiated with an Outperform at JMP Securities... Calavo Growers (CVGW) initiated with a Buy at Janney Capital... Clorox (CLX) initiated with a Sector Weight at KeyBanc... Coach (COH) initiated with a Sell, $32 target at Cantor... Compugen (CGEN) initiated with an Outperform at Oppenheimer... Corcept Therapeutics (CORT) initiated with an Outperform at FBR Capital... Criteo (CRTO) initiated with an Outperform at Raymond James... CytRx (CYTR) initiated with an Outperform at FBR Capital... Dollar Tree (DLTR) initiated with a Buy at Cantor... Facebook (FB) initiated with a Buy at Cleveland Research... Gap (GPS) initiated with a Hold at Cantor... Genocea (GNCA) initiated with an Outperform at FBR Capital... Geron (GERN) initiated with an Outperform at Oppenheimer... Home Depot (HD) initiated with a Hold at Cantor... HubSpot (HUBS) initiated with a Buy at Needham... Jernigan Capital (JCAP) initiated with a Buy at Wunderlich... La Jolla (LJPC) initiated with an Outperform, $43 target at Oppenheimer... Lowe's (LOW) initiated with a Hold at Cantor... Lumber Liquidators (LL) initiated with a Buy, $45 target at Cantor... New Residential (NRZ) reinstated with an Outperform at Credit Suisse... Rent-A-Center (RCII) initiated with a Buy at Cantor... Ross Stores (ROST) initiated with a Hold at Cantor... Rubicon Project (RUBI) initiated with an Outperform at Raymond James... SolarCity (SCTY) initiated with an Outperform at Northland... SolarEdge (SEDG) initiated with a Buy at Canaccord... Spectrum Brands (SPB) initiated with an Overweight at KeyBanc... Summit Materials (SUM) initiated with a Buy at BB&T... Synergy Resources (SYRG) initiated with a Buy at KLR Group... Synta Pharmaceuticals (SNTA) initiated with an Outperform at FBR Capital... TJX (TJX) initiated with a Hold at Cantor... Tiffany (TIF) initiated with a Hold at Cantor... TubeMogul (TUBE) initiated with a Market Perform at Raymond James... Urban Outfitters (URBN) initiated with a Buy at Cantor... WhiteWave Foods (WWAV) initiated with a Neutral at Janney Capital... Williams-Sonoma (WSM) initiated with a Hold at Cantor... Zafgen (ZFGN) initiated with an Outperform at FBR Capital.
08:51 EDTCOHCoach Q3 North American estimates remain above consensus at ITG Research
ITG Research's analysis indicates Coach's Q3 North American sales are $530M, above consensus of $512M.
08:49 EDTCOHCoach North American sales remain ahead of consensus, says ITG Research
08:40 EDTCOHCoach competition could impact a margin recovery, says Goldman
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April 20, 2015
16:26 EDTCOHCoach initiated with a Sell, $32 target at Cantor
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10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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08:18 EDTKATE, KORSMichael Kors downgraded to Neutral with $70 target at Mizuho
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06:11 EDTKORSMichael Kors downgraded to Neutral from Buy at Mizuho
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06:10 EDTKORSMichael Kors implied volatility of 24 at lower end of index mean range
April 16, 2015
10:15 EDTCOHCoach May volatility elevated into Q3 and outlook
Coach May weekly call option implied volatility is at 44, May is at 33, August is at 28, November is at 26; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q3 results.
10:06 EDTCOHCoach trades higher, levels to watch
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10:00 EDTCOHOn The Fly: Analyst Upgrade Summary
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09:55 EDTKORSMichael Kors view changed to Mixed from Positive at OTR Global (pre-open)
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05:55 EDTKORS, COHCoach upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Joan Payson upgraded Coach to Overweight citing greater confidence in the designer's ability to grow domestic store comps with its turnaround "well underway." She expects Coach's competitive pressures to ease and raised her price target for shares to $50 from $38. The maker of handbags closed yesterday down 28c to $41.76. Payson also lowered her price target for shares of Michael Kors (KORS) to $60 from $70 and keeps an Equal Weight rating on the name. She believes Kors may soon be in need of transformation. The analyst keeps an Equal Weight rating on Tiffany (TIF), calling the company a "work in progress."
April 14, 2015
17:02 EDTCOHCrocs appoints Coach International Group president Ian Bickley to board
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09:20 EDTKATEKate Spade's department store sales strong during Q1, says OTR Global
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