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Stock Market & Financial Investment News

News Breaks
August 4, 2014
16:42 EDTESI, TREX, PDCE, INSM, KORSOn The Fly: Closing Wrap
Stocks on Wall Street remained near the flat line until about 1 pm ET and then they began to drift higher. The buyers emerged during the afternoon and pushed the averages up ahead of the next round of corporate earnings reports due out after the close. ECONOMIC EVENTS: In the U.S., no major economic data was reported. On the international front, Portugal's central bank announced a bailout of the nation's largest listed lender, Banco Espirito Santo. COMPANY NEWS: Shares of luxury accessories maker Michael Kors (KORS) fell $4.82, or 5.89%, to $77.01 after the company reported stronger than expected results for the first quarter of its fiscal 2015, but said that its gross margins had dropped during the quarter compared to the same period of last year. The company also estimated that its gross margin would drop in fiscal 2015. Analysts were divided on the company's outlook following the results, with Sterne Agee contending that "red flags abound" for the company while Bank of America Merrill Lynch saying that the "impressive momentum" of Michael Kors should continue and that today's pullback in the stock has created a buying opportunity. MAJOR MOVERS: Among the notable gainers was decking product maker Trex (TREX), which advanced $4.33, or 15.1%, to $33.00 after its better than expected earnings. Also higher was PDC Energy (PDCE), which rose $6.63, or 12.34%, to $60.34 after Colorado governor John Hickenlooper struck a deal that will eliminate all ballot initiatives, proposed for November, that had sought to restrict hydraulic fracturing, or "fracking," in the state. Among the noteworthy losers was ITT Educational (ESI), which plunged $6.59, or 46.05%, to $7.72 after the company disclosed that its sale leaseback agreement with College Portfolio Buyer had been terminated. Also lower were shares of Insmed (INSM), with Piper Jaffray attributing today's $4.59, or 26.61%, pullback in its shares to $12.66 to the company not immediately filing for U.S. approval of Arikayce in cystic fibrosis and nontuberculous mycobacteria in concert with its European filing for the drug. INDEXES: The Dow rose 75.91, or 0.46%, to 16,569.28, the Nasdaq advanced 31.25, or 0.72%, to 4,383.89, and the S&P 500 gained 13.84, or 0.72%, to 1,938.99.
News For KORS;PDCE;ESI;INSM;TREX From The Last 14 Days
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April 30, 2015
13:11 EDTKORSMichael Kors June volatility increases into Q4 and outlook
Michael Kors May call option implied volatility is at 27, June is at 32, August is at 30, November is at 29; compared to its 26-week average of 28 according to Track Data, suggesting large May price movement into the expected release of Q4 results in late May.
11:06 EDTKORSOptions with increasing implied volatility
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April 29, 2015
19:09 EDTESIOn The Fly: After Hours Movers
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17:03 EDTESIITT Educational announces CFO Daniel Fitzpatrick to retire
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10:53 EDTKORSOptions with increasing implied volatility
Options with increasing implied volatility: THRX ALTR ARIA DECK ANF KORS CVC CCE
April 28, 2015
11:04 EDTKORSOptions with increasing implied volatility
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April 27, 2015
08:21 EDTKORSBofA/Merrill retail/consumer analysts hold analyst/industry conference call
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April 23, 2015
06:03 EDTKORSMichael Kors implied volatility of 24 at lower end of index mean range
April 22, 2015
06:00 EDTKORSMichael Kors implied volatility of 25 at lower end of index mean range
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April 20, 2015
14:51 EDTPDCEPDC Energy management to meet with SunTrust
Group dinner to be held in New York on April 22 hosted by SunTrust.
10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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08:18 EDTKORSMichael Kors downgraded to Neutral with $70 target at Mizuho
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06:11 EDTKORSMichael Kors downgraded to Neutral from Buy at Mizuho
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06:10 EDTKORSMichael Kors implied volatility of 24 at lower end of index mean range

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