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Stock Market & Financial Investment News

News Breaks
July 30, 2014
10:30 EDTKATE, COH, KORSMichael 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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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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December 15, 2014
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 EDTCOH, KORS, KATEOn 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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