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Stock Market & Financial Investment News

News Breaks
July 17, 2014
13:14 EDTKORS, KATE, COHMichael Kors rises after analyst sees less discounting than peers
Shares of accessories designer Michael Kors (KORS) are slightly higher in a down market after Credit Suisse said that the company's brands are less likely to be on sale than those of its competitors. WHAT'S NEW: In a note to investors, Credit Suisse analyst Christian Buss wrote that Michael Kors' products are "one of the least discounted brands available during the seasonal clearance period ahead of early fall shipments." At mid-tier department stores, 25% of Michael Kors' products are on sale with an average markdown of 27%, Buss reported. On average, 35% of the products of the company's peers are on sale, at an average discount of 27%, the analyst stated. Additionally, Michael Kors' channel strategy provides it with multiple advantages, including brand integrity and limits on markdowns, Buss believes. Buss wrote that he was "compelled" by the recent drop in the stock, and reiterated a $107 price target and Outperform rating on the shares. WHAT'S NOTABLE: Also upbeat on Michael Kors today was research firm Canaccord. Markdowns of the company's products are not any larger than last year, and concerns about large discounts on its products have created a buying opportunity, the firm contended. Canaccord continues to believe that the accessories maker has strong long-term growth opportunities, and it kept a $123 price target and Buy rating on the shares. PRICE ACTION: In mid-afternoon trading, Michael Kors gained 2% to $83. Two of the company's competitors, Coach (COH) and Kate Spade (KATE), rose fractionally.
News For KORS;KATE;COH From The Last 14 Days
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October 1, 2014
08:31 EDTKORSMichael Kors fundamentals intact, says Morgan Stanley
Morgan Stanley said Michael Kors concerns of increased inventory and promotions impacting gross margins is overdone. The firm believes incremental promotions reflect some normalization and not brand decay and eComm checks suggest inventory is under control. Morgan Stanley views Kors' fundamentals as intact and valuation as compelling. Shares are Overweight rated.
06:14 EDTKORSMichael Kors implied volatility of 28 at lower end of index mean range
September 30, 2014
06:07 EDTKORSMichael Kors implied volatility of 27 at lower end of index mean range
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September 25, 2014
17:42 EDTCOHCoach executive chairman Lew Frankfort to retire
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September 23, 2014
08:40 EDTKORSMichael Kors attractive vs. peers, says BofA/Merrill
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September 17, 2014
10:00 EDTKATEOn The Fly: Analyst Initiation Summary
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07:17 EDTKATEKate Spade initiated with a Buy at Wunderlich
Target $36.

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