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Stock Market & Financial Investment News

News Breaks
July 18, 2014
07:32 EDTKORSMichael Kors price target lowered to $80 from $95 at Jefferies
Jefferies lowered its price target for Michael Kors shares to $80 after cutting its estimates for the company for the second time in two weeks. To reflect further concerns on promotions, Jefferies lowered its FY15 estimate to $3.60 from $3.90 and FY16 estimate to $4.00 from $4.60. Even with shares pulling back over the past few days, Jefferies says risk remains skewed to the downside. It keeps a Hold rating on the stock.
News For KORS From The Last 14 Days
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August 4, 2015
06:05 EDTKORSMichael Kors implied volatility of 56 at upper end of index
August 3, 2015
13:20 EDTKORSMichael Kors options active into Q1 and outlook
Michael Kors July 40 and 40.5 calls are active on total call volume of 17K contracts (7K puts) into the expected release of Q1 on August 6. August weekly call option implied volatility is at 114, August is at 66, September is at 49; compared to its 52-week range of 23 to 54. Active options volume suggests traders taking positions for large price movement.
07:53 EDTKORSCanaccord remains cautious on Michael Kors heading into earnings
Canaccord said it remains cautious on Michael Kors heading into the company's earnings report on Thursday. The firm believes the sluggishly negative retail traffic trends from last quarter persisted into Q1, leading to a supply/demand imbalance. Canaccord lowered its estimates and price target to $45 from $48 and maintained its Hold rating on Michael Kors shares.
07:21 EDTKORSCoach downgraded to Neutral from Overweight at JPMorgan
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06:42 EDTKORSMichael Kors inventory building at retailers, says Piper Jaffray
Piper Jaffray analyst Erinn Murphy lowered her estimates for Michael Kors (KORS) after channel checks indicated the company's inventory is building at retailers like Macy's (M) and Dillard's (DDS). Further, sales of watches remain under pressure in the U.S. and are starting to slow in Europe, Murphy tells investors in a research note. She believes Kors's negative comps will continue beyond this year as its fundamentals continue to deteriorate. Murphy cut her price target for shares to $38 from $44 and keeps a Neutral rating on the name. The handbag maker closed Friday down 13c to $41.99.
06:03 EDTKORSMichael Kors implied volatility of 57 at upper end of index
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July 31, 2015
05:47 EDTKORSStocks with implied volatility movement; KORS VALE
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July 30, 2015
10:18 EDTKORSMichael Kors call activity attributed to takeover speculation
Michael Kors July 40 and 40.5 calls are active on total call volume of 2500 contracts (300 puts) amid speculation private equity is interested in the company. July weekly call option implied volatility is at 40, August is at 52, September is at 42; compared to its 52-week range of 23 to 54. Active call volume suggests traders taking positions for large price movement,
10:13 EDTKORSRumor: Michael Kors strength attributed to takeover speculation
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July 29, 2015
10:00 EDTKORSOn The Fly: Analyst Initiation Summary
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09:14 EDTKORSMichael Kors initiated with a Hold at BB&T
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July 28, 2015
10:23 EDTKORSBMO Capital says high-end handbag makers to stay weak
High end handbag makers Coach (COH), Kate Spade (KATE) and Michael Kors (KORS) are continuing to struggle and their share prices are likely to remain weak, research firm BMO Capital wrote in a note to investors today. The firm significantly cut its price targets on all three names. WHAT'S NEW: Consumers are spending less on high-end handbags as they increase the amount they allocate to other areas, including travel, leisure and apparel, BMO Capital analyst John Morris stated. Consequently, the North American handbag market was expanding at a 5% rate at the end of June, down from a high single digit rate earlier this year, according to Morris. Meanwhile, competition within the space is mounting and handbag price wars are continuing, the analyst stated. Although handbag stocks have dropped significantly and their valuations appear attractive, they are "falling knives," the analyst warned. Assessing the status of specific companies, Morris says that Kate Spade has avoided implementing major price cuts on its products, though its comparative sales and "mind share" have suffered as a result of that decision and stores are displaying its products less prominently. Coach's stock suggests that investors expect the company's fundamentals to rebound, but Morris thinks that their optimism may be premature. The pace of the company's improvement "remains challenging," and it is likely to be hurt by a decline of U.S. tourism, he believes. Also likely to be hurt by declines in tourism is Michael Kors, the analyst stated. The prices of Michael Kors' products are being reduced by retailers, its gross margins are sinking and its watch business is weak, Morris warned. He reduced his price target on Kate Spade to $19 from $30, on Coach to $28 from $37 and on Michael Kors to $40 from $51. The analyst kept Market Perform ratings on all three stocks. PRICE ACTION: In early trading, Kate Spade was little changed at $18.75, Coach fell 0.5% to $30.60 and Michael Kors was fractionally higher at $39.17.
09:04 EDTKORSHandbag makers estimates, price targets lowered at BMO Capital
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July 23, 2015
10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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08:48 EDTKORSMichael Kors downgraded to Neutral from Buy at Buckingham
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