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Stock Market & Financial Investment News

News Breaks
August 4, 2014
12:26 EDTINSM, ESI, TREX, PIKE, KORS, RLGYOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory, as investors looked like they were prepared to take advantage of last week’s sell-off. Unlike in recent weeks, little M&A activity was announced over the weekend and the tensions in Russia and Israel did not make headlines due to escalations. The bulls appeared to be facing little resistance. However, the averages weakened in the early going and drifted throughout the morning. Near noon the Nasdaq had held on to narrow gains, though the S&P and Dow were both close to the flat line. ECONOMIC EVENTS: In the U.S., no major economic data was reported. On the international front, Israel pulled back many of its ground forces from Gaza as it began a seven hour truce. COMPANY NEWS: Shares of Michael Kors (KORS) initially advanced in pre-market trading after the company's first quarter earnings per share and revenue beat expectations and its same-store sales in the three months grew by more than 24%. However, as investors digested the report and listened to the company's associated conference call, during which it issued guidance for its gross margins to decline by 50 basis points during this fiscal year, the stock reversed course. In a note to investors after the company's report, analysts at Sterne Agee says that while Kors' sales growth remains "sound," the firm believes "red flags abound" for the stock, listing high inventories, gross margin pressure and increasing investment spend amid the concerns. Near noon, the luxury handbag makers' shares were down 7%. MAJOR MOVERS: Among the notable gainers was Pike Corporation (PIKE), which surged more than 48% higher after Court Square Capital Partners and the company's chairman and CEO agreed to acquire the company for $12.00 per share in cash. Also higher following their earnings reports were decking materials maker Trex (TREX), which rose 13%, and real estate services provider Realogy (RLGY), which gained 5%. Among the noteworthy losers was ITT Educational (ESI), which plunged 31% after the company disclosed that its sale leaseback agreement with College Portfolio Buyer had been terminated. Also lower was Insmed (INSM), with Piper Jaffray attributing today's 25% pullback in its shares 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: Near midday, the Dow was down 11.27, or 0.07%, to 16,482.10, the Nasdaq was up 12.75, or 0.29%, to 4,365.39, and the S&P 500 was up 1.53, or 0.08%, to 1,926.68.
News For KORS;PIKE;RLGY;ESI;INSM;TREX From The Last 14 Days
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January 30, 2015
08:33 EDTTREXTrex Company management to meet with CL King
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January 29, 2015
11:08 EDTKORSMichael Kors volatility elevated into Q3 and outlook
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January 23, 2015
10:02 EDTKORSOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmSurg (AMSG) upgraded to Overweight from Neutral at Piper Jaffray... Anglo American (AAUKY) upgraded to Neutral from Sell at Goldman... Autobytel (ABTL) upgraded to Buy from Hold at Ascendiant... Charles River Labs (CRL) upgraded to Outperform from Market Perform at William Blair... Chesapeake (CHK) upgraded to Outperform from Neutral at Credit Suisse... CubeSmart (CUBE) upgraded to Buy from Neutral at SunTrust... Cypress Semiconductor (CY) upgraded to Neutral from Underweight at JPMorgan... DreamWorks Animation (DWA) upgraded to Overweight from Neutral at Piper Jaffray... E-Trade (ETFC) upgraded at Credit Suisse... Kate Spade (KATE) upgraded to Buy from Neutral at Mizuho... LinkedIn (LNKD) upgraded to Strong Buy from Market Perform at Raymond James... Matthews (MATW) upgraded to Outperform from Neutral at Macquarie... Meridian Bioscience (VIVO) upgraded to Buy from Hold at Craig-Hallum... Michael Kors (KORS) upgraded to Buy from Neutral at Mizuho... NIC Inc. (EGOV) upgraded to Hold from Sell at Maxim... Natural Grocers (NGVC) upgraded to Overweight from Neutral at Piper Jaffray... Nucor (NUE) upgraded to Buy from Neutral at Goldman... ResMed (RMD) upgraded to Buy from Hold at Needham... Smith & Wesson (SWHC) upgraded to Buy from Neutral at Dougherty... Ternium (TX) upgraded to Neutral from Sell at Goldman... Union Pacific (UNP) upgraded to Buy from Hold at BB&T... ZAGG (ZAGG) upgraded to Buy from Hold at Craig-Hallum... lululemon (LULU) upgraded to Overweight from Neutral at JPMorgan.
07:01 EDTKORSMichael Kors to open flagship store in Japan's Ginza
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06:37 EDTKORSMichael Kors upgraded to Buy from Neutral at Mizuho
January 21, 2015
10:01 EDTKORSOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ashford Hospitality (AHT) upgraded to Outperform from Neutral at Credit Suisse... BAE Systems (BAESY) upgraded to Buy from Neutral at Goldman... Bazaarvoice (BV) upgraded to Outperform from Market Perform at Cowen... Becton Dickinson (BDX) upgraded to Outperform at Cowen... CVS Health (CVS) upgraded to Buy from Neutral at Goldman... Camden Property (CPT) upgraded to Outperform from Neutral at Credit Suisse... ConocoPhillips (COP) upgraded to Buy from Neutral at BofA/Merrill... Cornerstone OnDemand (CSOD) upgraded to Buy from Neutral at DA Davidson... Cree (CREE) upgraded to Overweight at Stephens... DDR Corp. (DDR) upgraded to Outperform from Neutral at Credit Suisse... EastGroup Properties (EGP) upgraded to Outperform from Neutral at Credit Suisse... Energy Transfer Partners (ETP) upgraded to Outperform from Neutral at Credit Suisse... Esperion (ESPR) upgraded at BofA/Merrill... Exxon Mobil (XOM) upgraded to Outperform from Market Perform at Wells Fargo... FXCM (FXCM) upgraded to Market Perform from Underperform at Keefe Bruyette... Fair Isaac (FICO) upgraded to Overweight from Equal Weight at Barclays... Golar LNG (GLNG) upgraded to Buy from Hold at Nordea... Gran Tierra (GTE) upgraded to Buy at Canaccord... Host Hotels (HST) upgraded to Outperform from Neutral at Credit Suisse... J.M. Smucker (SJM) upgraded to Overweight from Neutral at JPMorgan... Kilroy Realty (KRC) upgraded to Neutral from Underperform at Credit Suisse... Level 3 (LVLT) upgraded to Outperform from Market Perform at Wells Fargo... Lowe's (LOW) upgraded to Overweight from Equal Weight at Morgan Stanley... Michael Kors (KORS) upgraded to Outperform at Cowen... Netflix (NFLX) upgraded at Nomura... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ruckus Wireless (RKUS) upgraded to Outperform from Market Perform at Northland... Santander Mexico (BSMX) upgraded to Neutral from Underperform at Credit Suisse... Scorpio Tankers (STNG) upgraded to Buy at Canaccord... Sprouts Farmers Markets (SFM) upgraded to Buy from Neutral at BofA/Merrill... Strategic Hotels (BEE) upgraded to Outperform from Neutral at Credit Suisse... The Medicines Co. (MDCO) upgraded to Outperform from Market Perform at Leerink... Whole Foods (WFM) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Neutral from Underperform at Exane BNP Paribas.
09:25 EDTKORSMichael Kors estimates remain ahead of consensus at ITG Research
ITG Research's data indicates Michael Kors year-over-year traffic trends ramped in October and peaked in early December but remains substantially stronger than trends observed coming out of Q2 and the firm's Q3 revenue estimates remains above consensus.
08:00 EDTKORSMichael Kors upgraded to Outperform at Cowen
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06:02 EDTKORSMichael Kors upgraded to Outperform from Market Perform at Cowen
January 20, 2015
06:57 EDTKORSMichael Kors relative valuation looks compelling, says Piper Jaffray
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