New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 4, 2014
11:48 EDTRL, FOSL, COH, KORSMichael Kors hits 52-week high after raising 2014 outlook
Shares of handbag and other luxury goods maker Michael Kors (KORS) are soaring after the company's third quarter results surpassed analysts' expectations and it raised its fiscal 2014 guidance. WHAT'S NEW: This morning, Michael Kors reported third quarter earnings per share of $1.11 and revenue of $1.0B, easily surpassing analysts' consensus estimates of 86c and $859.94M, respectively. The company also reported Q3 same store sales increased 27.8%. Michael Kors raised its FY14 EPS view to $3.07-$3.09 from $2.77-$2.81, compared to consensus of $2.83. It also raised its FY14 revenue view to $3.18B-$3.19B from $2.9B-$3.0B, versus consensus of $3.03B. The outlook assumed a SSS increase of approximately 25%, higher than its previous forecast for a 20% gain. ANALYST REACTION: In a note to investors, research firm Jefferies said the holiday quarter results clearly show the brand's dominance, but was likely the peak for the company. Jefferies cautioned investors against assuming the company's market share gains would continue at their current pace, believing that its market cap relative to sales trends was high. Jefferies reiterated its Hold rating on the shares, but did raise its price target to $85 from $80. Jefferies also said it would use today's strong report from Kors as an opportunity to buy Fossil (FOSL), which it noted has exposure to Kors' watch licensing business and which the firm views as having a more reasonable valuation. PRICE ACTION: In late morning trading, Michael Kors soared over 17% to $90.02 on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $93.18 and it's up over 65% in the past twelve months. Shares of Fossil were up more than 5% to $113.79. OTHERS TO WATCH: Michael Kors' competitors include Ralph Lauren (RL), which was up 0.6% to $154.60, and Coach (COH), which fell 1.5% to $45.81 in late morning trading.
News For KORS;FOSL;RL;COH From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 27, 2015
15:18 EDTFOSLMovado spikes after reporting Q2 results, backing FY16 guidance
Movado Group (MOV), which designs, sources, markets and distributes watches, is trading sharply higher after reporting better than expected second quarter earnings and revenue, as well as backing its fiscal 2016 guidance. WHAT'S NEW: Movado reported Q2 earnings per share of 50c against a consensus of 42c, and Q2 revenue of $145.6M against a consensus of $142.25M. The company also backed its FY16 EPS view of $2.00-$2.10 against a consensus of $2.05, and backed its FY16 revenue view of $590M-$600M against a consensus of $593.13M. Movado said it anticipates recording the remainder of the previously announced $3M-$4M pre-tax charge related to operating efficiency initiatives by the end of FY16, which is excluded from its guidance. ANALYST RESEARCH: On August 25, Barrington Research released an earnings preview that advised staying "on the sidelines" with Movado, forecasting the company's EPS at 40c and its revenue at $144.3M. The firm, which had rated Movado at Market Perform, correctly predicted the company would maintain its guidance. PRICE ACTION: In late afternoon trading, Movado is higher by $3.93, or 17.6%, to $26.25. PEERS: Competitor Fossil Group (FOSL) is trading higher by 2.6%.
11:42 EDTRLPVH Corp. rises after Q2 results top estimates, FY15 outlook raised
Subscribe for More Information
August 24, 2015
09:49 EDTKORS, FOSLFitbit being sold at Macy's seen as near-term catalyst
Subscribe for More Information
August 20, 2015
10:00 EDTFOSLOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
06:55 EDTFOSLFossil upgraded to Sector Weight from Underweight at KeyBanc
Subscribe for More Information
06:20 EDTRLRalph Lauren confirms launch of PoloTech smartshirt
Subscribe for More Information
06:04 EDTRLRalph Lauren plans launch of wearable-tech shirt for men, WSJ reports
Subscribe for More Information
August 18, 2015
10:13 EDTFOSLOptions with decreasing implied volatility
Subscribe for More Information
10:00 EDTKORSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abercrombie & Fitch (ANF) initiated with an Underperform at Wolfe Research... Abiomed (ABMD) initiated with a Buy at CRT Capital... Aeropostale (ARO) initiated with a Peer Perform at Wolfe Research... American Eagle (AEO) initiated with an Outperform, Top Pick at Wolfe Research... American Electric (AEP) initiated with a Buy at Mizuho... Benefitfocus (BNFT) initiated with an Overweight at First Analysis... Blue Buffalo Pet Products (BUFF) initiated with an Equal Weight at Morgan Stanley... Capitala Finance (CPTA) initiated with an Equal Weight at Stephens... Chico's (CHS) initiated with a Peer Perform at Wolfe Research... Children's Place (PLCE) initiated with an Outperform at Wolfe Research... Chimerix (CMRX) initiated with an Outperform at FBR Capital... Ciena (CIEN) initiated with a Market Perform at Northland... Crane (CR) initiated with an Outperform at William Blair... Entergy (ETR) initiated with a Neutral at Mizuho... Express (EXPR) initiated with an Outperform, Top Pick at Wolfe Research... Finisar (FNSR) initiated with a Market Perform at Northland... Francesca's (FRAN) initiated with a Peer Perform at Wolfe Research... Gap (GPS) initiated with an Underperform at Wolfe Research... Infinera (INFN) initiated with an Outperform at Northland... International Game (IGT) initiated with a Buy at Union Gaming... Juno Therapeutics (JUNO) initiated with an Outperform at FBR Capital... L Brands (LB) initiated with a Peer Perform at Wolfe Research... Luca Technologies (LUCA) initiated with an Outperform at Northland... Lumentum (LITE) initiated with an Outperform at Northland... M/A-COM (MTSI) reinstated with a Buy at Jefferies... MRV Communications (MRVC) initiated with an Outperform at Northland... Michael Kors (KORS) initiated with a Peer Perform at Wolfe Research... NN, Inc. (NNBR) initiated with a Buy at Stifel... NeoPhotonics (NPTN) initiated with an Outperform at Northland... Oclaro (OCLR) initiated with an Outperform at Northland... Scientific Games (SGMS) initiated with a Buy at Sterne Agee CRT... SolarCity (SCTY) initiated with a Neutral at UBS... Summit Materials (SUM) initiated with a Neutral at Citi... Tech Data (TECD) initiated with an Underperform at BofA/Merrill... Urban Outfitters (URBN) initiated with a Peer Perform at Wolfe Research... Zumiez (ZUMZ) initiated with an Underperform at Wolfe Research... lululemon (LULU) initiated with a Peer Perform at Wolfe Research.
10:00 EDTCOHOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:45 EDTCOHCoach trades higher, levels to watch
Subscribe for More Information
07:46 EDTKORS, COHJefferies sees longer turnaround for Vera Bradley, cuts to Hold
Subscribe for More Information
07:40 EDTCOHJefferies says Coach turnaround not being appreciated, ups to Buy
Jefferies analyst Randal Konik upgraded Coach (COH) to Buy from Neutral and raised his price target for shares to $50 from $35. The stock closed yesterday up 8c to $32.02. Survey results show the handbag maker is starting to attract new customers at a faster rate while its remodel initiative should help drive a return to positive comps, Konik tells investors in a research note. He believes the company's turnaround is not being fully appreciated by the market. The analyst also added Coach to the Jefferies Franchise Picks List. He coupled the upgrade with a downgrade Vera Bradley (VRA) to Hold.
06:42 EDTCOHCoach upgraded to Buy from Hold at Jefferies
Subscribe for More Information
August 17, 2015
17:08 EDTKORSMichael Kors initiated with a Peer Perform at Wolfe Research
Target $46.
10:21 EDTFOSLOptions with decreasing implied volatility
Subscribe for More Information
August 14, 2015
17:29 EDTKORSGreenlight Capital gives quarterly update on stakes
Subscribe for More Information
17:17 EDTCOHPoint72 gives quarterly update on stakes
Subscribe for More Information
10:24 EDTFOSLOptions with decreasing implied volatility
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use