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News Breaks
December 12, 2013
11:50 EDTBEBE, EXPR, ZUMZ, LULULululemon approaches 52-week low after guidance trails estimates
Shares of athletic apparel retailer Lululemon (LULU) are falling after the company’s fourth quarter and full year outlook trailed analysts’ consensus estimates. WHAT'S NEW: This morning, Lululemon reported third quarter earnings per share of 45c and revenue of $379.9M, both of which beat analysts’ consensus estimates. However, the company’s fourth quarter and fiscal 2013 outlook trailed analysts’ consensus estimates. Lululemon forecast that its fourth quarter earnings per share would be 78c-80c while its revenue would come in at $535M-$540M, compared to analysts’ consensus estimates of 84c and $571.76M. The company believes that its Q4 same-store sales will be flat on a constant-dollar basis. For FY13, EPS was guided to $1.94-$1.96, versus the consensus estimate of $1.96, while revenue was seen at $1.605B-$1.61B, versus the consensus of $1.64B. The company said that traffic in its stores has slowed due to macro economic issues, tougher quality control, faulty products that the company chose not to release to its stores, and negative PR. As a result of these issues, the company stated that its business in the initial part of Q4 has been "soft." ANALYST REACTION: This morning in a note to investors, research firm Canaccord said that, despite the company’s soft Q4 guidance, the firm continues to believe that Lululemon has a unique brand with strong growth potential both in the U.S. and abroad. The firm maintained a Buy rating on the shares with a $90 price target. According to another firm, SunTrust Robinson Humphrey, Lululemon is faring better in a challenging macro environment than the majority of its peers, as shown by its significantly better than expected third quarter results. It reiterated a Buy rating on the shares with a $78 price target. PRICE ACTION: In late morning trading, Lululemon fell $7.52 or 11% to $60.83 on nearly four times its average daily trading volume. The shares are approaching their 52-week low of $59.60 previously reached in June, and are down approximately 20% since the start of the year. OTHERS TO WATCH: Other apparel retailers include Express (EXPR), Bebe Stores (BEBE), and Zumiez (ZUMZ).
News For LULU;EXPR;BEBE;ZUMZ From The Last 14 Days
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April 22, 2014
10:00 EDTBEBEbebe stores falls 9.8%
bebe stores is down 9.8%, or 63c, to $5.81
09:16 EDTBEBEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 8%... Harley-Davidson (HOG), up 7%... PLX Technology (PLXT), up 8%... Illinois Tool (ITW), up 2.3%... Comcast (CMCSA), up 1%... McDonald's (MCD), up 0.6%. ALSO HIGHER: Allergan (AGN), up 17% after Valeant (VRX) confirms proposal to combine with the company for $48.30 and 0.83 shares of stock. Valeant is up 5% following its confirmation of the news that broke last night... GlaxoSmithKline (GSK), up 4.5% after agreeing to sell oncology products for $14.5B to Novartis (NVS) and buy Novartis' Vaccines business, currently excluding its flu business, for $7.1B plus royalties. Novartis shares trading in New York are also up 1% following the deals... Revance Therapeutics (RVNC), up 20% after announcing positive results from RT002 Phase 1/2 study... Facebook (FB), up 2% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Xerox (XRX), down 4%... Lexmark (LXK), down 4.8%. ALSO LOWER: Allison Transmission (ALSN), down 4% after filing to sell 25M shares for holders... FireEye (FEYE), down 2.9% after filing to sell 13.3M shares of common stock for holders... Bebe stores (BEBE), down 16% after reporting preliminary Q3 losses that were steeper than the consensus estimate.
09:00 EDTBEBEbebe stores falls 16.1%
bebe stores is down 16.1%, or $1.04, to $5.40
07:34 EDTBEBEbebe stores says saw improved performance in all channels during Easter week
CEO Steve Birkhold says "More recently, we have seen continued progress in our sales and margins, with improved performance in all channels during the past Easter week as consumers responded positively to our April product offerings."
07:33 EDTBEBEbebe stores sees Q3 EPS (32c)-(29c), including impairment charges
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07:26 EDTBEBEbebe stores trading halted, pending news
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April 21, 2014
16:40 EDTLULUOn The Fly: Closing Wrap
Stocks on Wall Street were higher for the fifth straight session. Volume remained light on this Monday following Easter, as a number of international markets remained closed. The averages spent time on both sides of the flat-line early in the trading day before settling into a narrow range in positive territory for most of the second half of the session. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index fell to 0.20 in March, matching the consensus forecast. The Conference Board's index of leading indicators rose 0.8% in March, beating the consensus forecast for an increase of 0.7%. COMPANY NEWS: Ford (F) is preparing to announce that its Chief Operating Officer, Mike Fields, will take the CEO role at the company following the retirement of current CEO Alan Mulally later this year, according to a report from Bloomberg. Shares of Ford were little changed for the session following the report, losing 2c, or 0.13%, to close at $15.98... U.S.-listed shares of British pharmaceutical company AstraZeneca (AZN) gained $5.61, or 8.84%, to $69.10 after the U.K.'s Sunday Times said Pfizer (PFE) has takeover interest in the company. Analysts had mixed opinions on the report, with Citigroup saying a bid looks "highly probable," while analysts at Bernstein think such a deal would conflict with Pfizer's strategy of getting smaller. Shares of Pfizer rose 61c, or 2.02%, to $30.86 following the report... MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), up $9.58, or 39.26%, to $33.98 after announcing plans to submit a New Drug Application to the FDA by the end of this year for the approval of eteplirsen for the treatment of Duchenne muscular dystrophy. Also higher was Advanced Micro Devices (AMD), which rose 43c, or 11.65%, to $4.12 after the semiconductor manufacturer reported earnings and revenue that topped expectations after the close on Thursday. Among the noteworthy losers was MoneyGram (MGI), down $2.01, or 13.57%, to $12.80 in its second straight losing session after Wal-Mart (WMT) announced that it was launching its own money transfer service. MoneyGram's slide today comes after the stock dropped by more than 18% on Thursday following Wal-Mart's announcement. Also lower was lululemon (LULU), down $2.64, or 5.11%, to $49.07 after analysts at Sterne Agee said the company's investor day presentation, held on Thursday, did not include a substantive plan to grow same-store sales. INDEXES: The Dow was up 40.71, or 0.25%, to 16,449.25, the Nasdaq was up 26.03, or 0.64%, to 4,121.55, and the S&P 500 was up 7.04, or 0.38%, to 1,871.89.
14:44 EDTLULULululemon shares weak after 'uneventful' analyst day
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08:46 EDTLULUlululemon Analyst Day uneventful, says Sterne Agee
Following lululemon's Analyst Day, Sterne Agee says that the company did not present a significantly substantive plan to increase its same-store sales. The firm thinks the company's product looks good, but that its women's product is too focused on its loyal customers. Sterne Agee keeps an Underperform rating on the stock.
07:34 EDTLULULululemmon granted dismissal of U.S. yoga pant lawsuits, Reuters says
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April 17, 2014
07:31 EDTLULULululemon faces increased competition in yogawear industry, Reuters says
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April 15, 2014
09:39 EDTLULUlululemon to host analyst day
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07:01 EDTLULUlululemon can ease competition concerns at analyst day, says Canaccord
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April 14, 2014
10:02 EDTBEBEOn The Fly: Analyst Upgrade Summary
Acorda Therapeutics (ACOR) upgraded to Outperform from Market Perform at FBR Capital... Allegheny Technologies (ATI) upgraded to Neutral from Underperform at Sterne Agee... BP (BP) upgraded to Buy from Hold at Canaccord... Bloomin' Brands (BLMN) upgraded to Buy from Hold at Deutsche Bank... Boardwalk Pipeline (BWP) upgraded to Neutral from Underperform at BofA/Merrill... Boston Scientific (BSX) upgraded at BofA/Merrill... Charles Schwab (SCHW) upgraded to Buy from Neutral at UBS... Citigroup (C) upgraded to Hold from Sell at Rafferty Capital... Community Health (CYH) upgraded to Outperform from Perform at Oppenheimer... Eaton Vance (EV) upgraded to Neutral from Sell at Citigroup... Eli Lilly (LLY) upgraded to Hold from Underperform at Jefferies... F5 Networks (FFIV) upgraded to Buy from Hold at Stifel... HeartWare (HTWR) upgraded to Buy from Neutral at BTIG... Heartland Payment (HPY) upgraded to Hold from Sell at Stifel... Hyatt Hotels (H) upgraded to Outperform from Market Perform at FBR Capital... MasterCard (MA) upgraded to Outperform from Neutral at RW Baird... McDermott (MDR) upgraded to Neutral from Underweight at HSBC... Palo Alto (PANW) upgraded to Overweight at Stephens... PetroChina (PTR) upgraded to Neutral from Underperform at Credit Suisse... Seagate (STX) upgraded to Buy from Hold at Argus... Sensata (ST) upgraded to Buy from Neutral at Citigroup... Stryker (SYK) upgraded to Neutral from Reduce at SunTrust... TD Ameritrade (AMTD) upgraded to Buy from Neutral at UBS... TTM Technologies (TTMI) upgraded to Buy from Hold at Stifel... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... VMware (VMW) upgraded to Outperform from Underperform at CLSA... Visa (V) upgraded to Outperform from Neutral at RW Baird... Yahoo (YHOO) upgraded to Buy from Neutral at SunTrust... Zimmer (ZMH) upgraded to Neutral from Reduce at SunTrust... bebe stores (BEBE) upgraded to Buy from Neutral at Janney Capital.
07:48 EDTBEBEbebe stores upgraded to Buy from Neutral at Janney Capital
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06:04 EDTBEBEbebe stores upgraded to Buy from Neutral at Janney Capital
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April 10, 2014
11:31 EDTEXPROptions with increasing implied volatility: EXPR NEE
10:42 EDTZUMZZumiez pops after same store sales, upgrade
The stock is up over 5% at time of writing to $26.29 following same store sales reported after the close yesterday and an upgrade to Buy at DA Davidson. The current price action, a gap up in price this morning and a "line" across the chart today in a narrow range suggests a short-squeeze may be in progress. Over 8.5% of the float was short as of the last available report. Resistance is at $27.29. Support is at $25.64.
10:00 EDTZUMZOn The Fly: Analyst Upgrade Summary
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07:47 EDTZUMZZumiez upgraded to Buy from Neutral at DA Davidson
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