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Stock Market & Financial Investment News

News Breaks
July 24, 2014
06:17 EDTKORS, FOSLMichael Kors watch momentum moderating, says Citigroup
Citigroup says its survey indicates Michael Kors (KORS) is seeing moderating momentum in watch sales due to increased competition and stagnant designs. Conversely, Citi's survey indicated Fossil (FOSL) wholesale sales are showing improvement on design and price. The firm reiterates a Buy rating on Fossil and says it remains cautious on Michael Kors with a Neutral rating.
News For KORS;FOSL From The Last 14 Days
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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 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%.
August 24, 2015
09:49 EDTFOSL, KORSFitbit being sold at Macy's seen as near-term catalyst
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August 20, 2015
10:00 EDTFOSLOn The Fly: Analyst Upgrade Summary
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06:55 EDTFOSLFossil upgraded to Sector Weight from Underweight at KeyBanc
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