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Stock Market & Financial Investment News

News Breaks
May 2, 2014
10:57 EDTKORS, KATENomura upbeat on Michael Kors, Kate Spade
Accessory designers Michael Kors (KORS) and Kate Spade (KATE) were both initiated with Buy ratings in notes to investors earlier today by Japanese bank Nomura. WHAT'S NEW: Michael Kors should continue to gain market share, with comparable sale gains in double digit percentage levels, Nomura analyst Simeon Siegel wrote in his initiation note. The company should also be boosted by the continuing expansion of its licensing business, and it is poised to continue to generate best in class revenue growth, added Siegel. The analyst set a $116 price target on the stock. Similarly, Siegel expects Kate Spade to generate share gains and double digit comparative sale growth. Also likely to boost the company are increased global luxury spending, international expansion, and further e-commerce traction, contended the analyst ,who set a $41 price target on the shares. WHAT'S NOTABLE: Yesterday research firm Piper Jaffray wrote that Michael Kors appears to be gaining market share in the North American handbag market. On April 23, Citigroup stated that Kate Spade's stock can advance more than that of Michael Kors in 2014. PRICE ACTION: In mid-morning trading, Michael Kors gained 1.3% to $93.61, while Kate Spade's stock was little changed near $35 per share.
News For KORS;KATE From The Last 14 Days
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November 25, 2014
10:10 EDTKORSJanney to hold a field trip
Janney Montgomery Holiday Mall Tour is being held at Tysons Corner, Virginia on November 25.
November 24, 2014
10:37 EDTKORS, KATEKate Spade rises after handbag survey prompts Bank of America upgrade
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10:00 EDTKATEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aruba Networks (ARUN) upgraded to Outperform from Market Perform at Raymond James... Banco Bilbao (BBVA) upgraded to Neutral from Underperform at BofA/Merrill... Berry Plastics (BERY) upgraded to Outperform from Market Perform at BMO Capital... Denny's (DENN) upgraded to Buy from Neutral at Janney Capital... Hess Corp. (HES) upgraded to Outperform from Market Perform at Raymond James... Huaneng Power (HNP) upgraded to Buy from Neutral at BofA/Merrill... Infoblox (BLOX) upgraded to Buy from Hold at Needham... Kate Spade (KATE) upgraded at BofA/Merrill... Lumber Liquidators (LL) upgraded to Overweight from Equal Weight at Morgan Stanley... Occidental Petroleum (OXY) upgraded to Strong Buy from Outperform at Raymond James... PT Indosat (IIT) upgraded to Buy from Neutral at Nomura... Silvercorp Metals (SVM) upgraded to Outperform from Market Perform at Raymond James... Toro Company (TTC) upgraded to Buy from Neutral at Longbow... United Microelectronics (UMC) upgraded to Market Perform from Underperform at Bernstein.
09:23 EDTKATEOn The Fly: Pre-market Movers
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07:48 EDTKATEKate Spade upgraded at BofA/Merrill
As previously reported, BofA/Merill upgraded Kate Spade to Buy from Neutral. The analyst has increased confidence in sustainable comp growth following a recent handbag survey and said the current share price does not reflect growth prospects. Price target is $34.
07:30 EDTKATESterne Agee to hold a conference
4th Annual Philadelphia SMID Cap Conference is being held in Philadelphia on November 24.
06:54 EDTKATEKate Spade upgraded to Buy from Neutral at BofA/Merrill
November 21, 2014
14:33 EDTKORSMichael Kors volatility at low end of historic range
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November 20, 2014
07:19 EDTKORSMichael Kors holiday catalog pricing up 11%, says Piper Jaffray
Piper Jaffray says its analysis shows the weighted average pricing for the Michael Kors Holiday catalog was $242, up 11% from last year. The firm adds the catalog contains new handbag silhouettes introductions including Dillon & Sutton. Piper continues to view Michael Kors as its top Holiday pick and keeps an Overweight rating on the name with a $98 price target.
November 18, 2014
07:30 EDTKORSMorgan Stanley to hold a conference
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