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Stock Market & Financial Investment News

News Breaks
February 3, 2014
13:04 EDTKORSEarnings Preview: Analysts expect Michael Kors to meet or exceed Q3 guidance
Michael Kors (KORS) is scheduled to report third quarter results before the market open on Tuesday, February 4 with a conference call scheduled for 8:00 am ET. Michael Kors Holdings Limited is a global lifestyle brand and global accessories, footwear and apparel company. EXPECTATIONS: Analysts are looking for EPS of 86c on revenue of $859.94M, according to First Call. The consensus range for EPS is 82c-89c on revenue of $842.7M-$885.09M. LAST QUARTER: Michael Kors reported Q2 EPS of 71c against estimates of 68c, on revenue of $740.3M against estimates for $725.9M. Comparable store sales increased 22.9%. The company forecast Q3 EPS 83c-85c on revenue of $845M-$855M, and said this outlook assumes a SSS increase in the 15%-20% range. Michael Kors also forecast FY14 EPS $2.77-$2.81 against estimates of $2.83 on revenue of $2.9B-$3B against estimates of $3.03; the company also sees FY SSS up approximately 20%. STREET RESEARCH: Morgan Stanley expects the company to meet or beat the 86c EPS estimate and for the market to reward 20% global comps. The firm believes Michael Kors will deliver "best in class" holiday sales, and says the brand remains the most searched handbag brand. Buckingham expects Michael Kors' sales and earnings guidance to surpass expectations During the quarter, shares were downgraded to Neutral from Buy at Citigroup and Wedbush said markdowns were higher than expected during the holiday season. Michael Kors was mentioned positively at ITG Research in January. OTHER STOCKS: Michael Kors peer Coach (COH) recently reported weaker than expected Q2 results. PRICE ACTION: Michael Kors shares are up almost 3% over the last three months, despite the stock being down over 3% in today's trading.
News For KORS From The Last 14 Days
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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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November 12, 2014
07:58 EDTKORSFossil price target raised to $150 from $140 at Jefferies
Jefferies raised its price target for Fossil (FOSL) shares to $150 saying the company's renewed agreement with Michael Kors (KORS) removes an overhang on the stock. The firm thinks Fossil's European growth potential associated with the Kors relationship is underappreciated. It reiterates a Buy rating on the stock.
November 11, 2014
16:02 EDTKORSMichael Kors, Fossil renew global licensing agreement
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08:01 EDTKORSMichael Kors promotions picked up in November, says Jefferies
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November 10, 2014
11:35 EDTKORSStocks with call strike movement; WFM KORS
Whole Foods (WFM) February 52.5 call option implied volatility increased 2% to 28, Michael Kors (KORS) May 85 call option implied volatility decreased 2% to 31 according to IVolatility.

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