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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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August 27, 2014
11:32 EDTKORSTiffany shines brighter as results beat expectations, company raises outlook
Shares of luxury retailer Tiffany (TIF) are moving higher after the company reported significantly stronger than expected second quarter results and raised its fiscal year 2015 earnings per share view. WHAT'S NEW: Tiffany's reported Q2 EPS of 96c on revenue of $993M, beating analysts' consensus estimates of 85c and $987.88M, respectively. Worldwide net sales increased 7% in Q2 and comparable store sales increased 3% in Q2 mainly due to growth in the Americas and Asia-Pacific regions. Looking ahead, the retailer increased its FY15 EPS view to $4.20-$4.30 from its previous view of $4.15-$4.25, which is in-line with analysts' $4.29 consensus. Tiffany anticipates worldwide net sales increasing by a high-single digit range and sees worldwide net sales increasing by a high-single-digit percentage for the year. The company also sees FY free cahs flow of at least $400M as well as capital expenditures of $270M. WHAT'S NOTABLE: During its conference call discussing the quarter, Tiffany said that it sees a "healthy" increase in its full-year operating margin. The luxury company noted that it experienced continued softness in its U.S. silver sales during Q2 as well as softness in U.S. entry-level sales under $500. In its Japan division, the retailer foresees returning to single-digit sales growth, but noted that the unit has not experienced that so far in the first few weeks of this month. In Europe, the retailer said it is "still feeling" the effect of economic and currency related obstacles. Tiffany sees opening 10 stores throughout the rest of the year, which is lower than its original plan of opening 13, and plans to close three stores this year compared to its original target of closing four. Tiffany also sees a double-digit percentage marketing spend increase in the second-half of this year. ANALYST REACTION: Sterne Agee analyst Ike Boruchow said that as Tiffany continues to surpass expectations in its earnings reports, fashion jewelry in general is growing again and the company's latest "T" collection should quicken that category further. He feels that regardless of the few headwinds in Japan and Europe, the luxury company is still one of the most stable retail firms. Boruchow believes that the CEO transition from Michael Kowalski to Frederic Cumenal is likely to be a "smooth" one in March. The analyst keeps the stock at a Buy rating with a $100.77 price target. OTHERS TO WATCH: Other high end retailers include Signet Jewelers (SIG), Blue Nile (NILE), Nordstrom (JWN), Michael Kors (KORS), and Coach (COH). PRICE ACTION: During late-morning trading, Tiffany rose $1.32 or 1.31%, to $102.09.
August 20, 2014
05:58 EDTKATEStocks with implied volatility below IV index mean; KATE VRNG
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August 19, 2014
05:58 EDTKATEStocks with implied volatility below IV index mean; KATE VRNG
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August 18, 2014
06:02 EDTKATEStocks with implied volatility below IV index mean; KATE KMP
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