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Stock Market & Financial Investment News

News Breaks
February 14, 2013
11:19 EDTKORS, MCO, RVBD, FOSLOptions with deceasing implied volatility: KORS MCO NXY RVBD FOSL
News For KORS;MCO;RVBD;FOSL From The Last 14 Days
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October 22, 2014
13:14 EDTRVBDRiverbed up 3% after dealReporter says contacting buyers next week
Shares of Riverbed moved higher after dealReporter said the company is expected to start a sale process and contact potential buyers next week, according to its sources.
October 20, 2014
13:10 EDTKORSSteve Madden tumbles after providing preliminary Q3 results, FY14 outlook
Shares of shoe and accessory company Steve Madden (SHOO) are tumbling after the company announced preliminary third quarter results that were below analysts' consensus along with a reduction to its fiscal year 2014 outlook. WHAT'S NEW: Steve Madden announced that it is anticipating Q3 earnings per share to be approximately 61c-62c and net sales of $392M, below analysts' consensus estimates of 67c and $415.72M, respectively. The company noted that retail comparable store sales for the quarter are anticipated to be down 7.4%. Steve Madden also reduced its FY14 EPS outlook to $1.81-$1.86 from $2.00-$2.10, well below analysts' $2.02 consensus. The company lowered its net sales projection for the year, and now sees net sales up 1%-2% over fiscal year 2013 versus its previous net sales guidance for up 2%-4% over FY13. The new guidance factors in the recent acquisition of Dolce Vita and current expectations for remainder of the year. On August 14, Steve madden acquired Dolce Vita for $60.3M in cash and previously said the deal would be accretive to earnings in FY14 by 2c-3c and be "modestly accretive" in FY15. WHAT'S NOTABLE: Steve Madden's Chief Executive Officer Edward Rosenfeld said that the company's Q3 earnings were "disappointing" and were the result of weaker than expected retail segment performance. He believes that retail trends in the footwear space will continue to be difficult through the fourth quarter due to a lack of noteworthy fashion trends in the industry. The CEO said that the company's full-year guidance results from this pattern, along with a lowered reorder outlook in its wholesale segment. Rosenfeld is still confident, however, in the company's business model and believes that its acquisitions of Dolce Vita and its Mexican licensee will fuel the business forward over the long term. OTHERS TO WATCH: Competitors of Steve Madden include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Vera Bradley. PRICE ACTION: During afternoon trading, shares of Steve Madden fell $2.62 or 8.2%, to $29.32. Over the last twelve months, the stock has fallen over 15%.
October 15, 2014
07:25 EDTMCOMoody's to hold a conference
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October 14, 2014
11:21 EDTFOSLFossil initiated with a Buy at Standpoint Research
Target $124.
07:23 EDTMCOMoody's to hold a teleconference/webcast
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05:48 EDTKORSMichael Kors initiated with a Hold at Stifel
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October 13, 2014
07:12 EDTRVBDRiverbed news already priced into stock, says JMP Securities
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October 10, 2014
09:06 EDTRVBDF5 Networks checks indicate return to stable growth, says Janney Capital
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October 9, 2014
12:07 EDTRVBDRiverbed downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Riverbed to Neutral citing the Q3 top-line shortfall.
10:44 EDTRVBDRiverbed miss increases likelihood of Elliot deal, says Wells Fargo
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10:19 EDTRVBDFollow-up: Riverbed downgraded at William Blair
As previously reported, William Blair downgraded Riverbed to Market Perform from Outperform. The firm downgraded shares citing disappointing preliminary Q3 results, survey feedback that indicates lack of excitement around Riverbed's non-WAN optimization portfolio of products, and neutral risk/reward.
10:11 EDTRVBDRiverbed downgraded to Market Perform from Outperform at William Blair
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09:43 EDTRVBDElliott 'commends' Riverbed board for initiating strategic review
Elliott Management Corporation commented on Riverbed Technology’s announcement of preliminary earnings and other actions: “We commend the Board for initiating a strategic review and believe that Riverbed is a great company with products customers value,” said Jesse Cohn, portfolio manager at Elliott Management. “We have made a $21 bid for the company, and our team and advisors look forward to completing our confirmatory diligence in an expedited fashion.”
08:32 EDTRVBDRiverbed to undertake comprehensive review of stratetgic, financial alternatives
08:32 EDTRVBDRiverbed initiates restructuring plan to reduce annual costs by $20M-$25M
The company announced that it has initiated a restructuring plan in order to reduce annual costs by $20 million to $25 million and improve annual operating margins by 1% to 2%. The company expects these restructuring efforts to be substantially complete by the end of calendar 2014. “In light of current business conditions, we are taking decisive steps to improve our cost structure in order to drive enhanced operating performance,” said Jerry M. Kennelly, chairman and CEO, Riverbed. “We believe these actions enable us to deliver increased value to our shareholders while continuing to deliver the products and support expected by our customers.” In addition to these restructuring initiatives, Riverbed's Board of Directors has determined to undertake a comprehensive review, with the assistance of its advisors, of strategic and financial alternatives to enhance shareholder value. There is no set timetable for the review process. The company does not intend to disclose or comment on further developments unless and until its Board approves a specific action or it otherwise concludes its review of alternatives.
08:31 EDTRVBDRiverbed narrows Q3 adjusted EPS view to 30c-31c from 30c-32c
Consensus is 31c. Cuts Q3 revenue view to $276M-$277M from $285M-$291M, consensus $286.75M. The revised guidance primarily reflects lower than expected growth in the company’s WAN Optimization and virtual ADC businesses.

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