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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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September 2, 2015
11:07 EDTCOH, KORSVera Bradley surges on better-than-expected Q2 earnings, upbeat FY16 view
Shares of Vera Bradley (VRA) surged in morning trading after the company reported better-than-expected second quarter results and raised its outlook for fiscal year 2016. Vera Bradley is a designer of women's handbags, accessories, luggage and travel items and eyewear. WHAT'S NEW: Vera Bradley reported Q2 earnings per share from continuing operations of 15c on revenue of $120.7M, beating analysts' expectations of 11c and $114.99M, respectively. Same-store sales decreased 15% for the quarter, though Robert Wallstrom, the company's chief executive officer, said that the company's comparable sales trend began to improve toward the end of the quarter due to new product offerings, improved in-store execution and initial marketing efforts. Looking ahead, Vera Bradley forecast third quarter EPS from continuing operations of 19c-21c on revenue of $120M-$123M, against analysts' consensus estimates of 15c and $117.2M, respectively. Wallstrom said that the company's turnaround will take time, but noted "meaningful progress" being made, and that Vera Bradley is "confident" in its long-term strategic plan. WHAT'S NOTABLE: Vera Bradley raised its FY16 continuing operations EPS view to 72c-82c from 64c-74c, higher than analysts' expectations of 66c. Additionally, the company's FY16 revenue view was narrowed to $487M-$495M from $480M-$495M, still ahead of analysts' consensus estimates of $481.57M. On its Q2 earnings conference call, Vera Bradley forecast sees Q3 and FY16 same-store sales down in the low double-digit percentage range. The company added that it eliminated hyperpromotions and pared back promotional days in Q2 and noted that it is seeing "green shoots" from its turnaround efforts. Vera Bradley said it sees a decline in hyperpromotional activity in FY16. PRICE ACTION: Vera Bradley shares are up 23.49% to $12.88 in morning trading. OTHERS TO WATCH: Vera Bradley peers include Coach (COH), down 0.54%, Michael Kors (KORS), up 1.92%, and Fossil Group (FOSL), up 0.64%.
09:36 EDTCOHCoach management to meet with Oppenheimer
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September 1, 2015
17:02 EDTKORSMichael Kors reappoints Cathy Robinson as COO
Cathy Marie Robinson withdrew her resignation as an executive officer of Michael Kors Holdings, which was previously disclosed in the Company's Current Report on Form 8-K filed with the SEC on August 11. Effective August 27 Robinson was re-appointed as an executive officer of the Company with the new title of "Senior Vice President of Corporate Strategy and COO". In connection with her promotion, Robinson will receive a grant of restricted share units valued at approximately $1,500,000 under the Michael Kors Holdings Limited Amended and Restated Omnibus Incentive Plan.
August 30, 2015
12:42 EDTCOHAmerican Airlines, others look like underappreciated bargains, Barron's says
Shares of American Airlines (AAL), Coach (COH), PACCAR (PCAR), and CA Technologies (CA) not only look cheap but pay dividends, thereby rewarding patient investors willing to wait for rebounds, Barron's contends in a feature article. All four firms are generating "healthy" return on capital, suggesting operations are stronger than traders believe, Barron's argues. Reference Link
August 24, 2015
09:49 EDTKORSFitbit being sold at Macy's seen as near-term catalyst
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