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April 17, 2014
07:31 EDTM, LULU, VFC, GPSLululemon faces increased competition in yogawear industry, Reuters says
Lululemon now faces an increase in competition from rival yogawear retailers, department stores and hot new brands such as Gap (GPS), Athleta, VF Corp's (VFC) lucy, Macy's (M), and many others who are selling athletic-wear at lower prices and across more locations, reported Reuters. Reference Link
News For LULU;GPS;VFC;M From The Last 14 Days
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November 23, 2015
16:20 EDTLULUOn The Fly: Top stock stories for Monday
The buyers and sellers spent most of the day in a tug-of-war, sending the averages back and forth across the flat line. The market is coming off one of its best weeks of the year and spent the day consolidating its most recent gains. The price of crude acted much like equities, as it too moved back and forth across the flat line and was virtually unchanged in the end. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing PMI for November fell 1.5 points to 52.6, missing expectations for a 54.0 reading. Existing home sales dropped 3.4% to a 5.36M rate in October, lower than the forecast for a 5.4M rate. The Chicago Fed National Activity Index showed a reading of -0.04, versus the expected +0.05 reading. In Europe, Markit's composite services and manufacturing PMI rose to 54.4 in October from a prior reading of 53.9. That reading marks the euro-area's highest level since May 2011. COMPANY NEWS: The well-telegraphed deal to create the world's largest drugmaker was made official this morning, though shares of both of the merging companies sold off as investors continue to fret that the U.S. government may step in to block the transaction, or at least make it less lucrative due to tax code changes. Pfizer (PFE) announced it will combine with Allergan (AGN) in a stock transaction valued at $363.63 per Allergan share on November 20 in a deal with a total enterprise value of approximately $160B. However, Allergan shares declined $10.74, or 3.56%, to $301.70 following the announcement, while Pfizer dipped 86c, or 2.69%, to $31.32... Alcoa (AA) rose 38c, or 4.37%, to $9.07 after activist investor Elliott Management revealed a 6.4% stake, saying it seeks to engage in a "constructive dialogue" regarding the company's recently announced spinoff plans as well as a number of added opportunities it sees to maximize shareholder value... In other activist investor news, Carl Icahn turned up the heat on AIG (AIG) CEO Peter Hancock, saying his talks with Hancock make it "abundantly clear" that he is not willing to take the steps that Icahn has pushed for, including the suggestion that the insurer break up to shrink below the threshold for systemically important financial institutions. Icahn intends to soon commence a consent solicitation, which may include a proposal to add a new director who would agree in advance to succeed Hancock as CEO if asked by the board to do so. MAJOR MOVERS: Among the notable gainers was Tyson Foods (TSN), which rallied $4.44, or 10.17%, to $48.09 after the meat producer reported better than expected quarterly revenue and gave guidance for fiscal 2016. Also higher was lululemon (LULU), which rose another 7% to $52.77, adding to recent gains, as speculation over a possible takeover by a larger rival, such as Under Armour (UA) or Nike (NKE), persists, fueled by continued media mentions. Among the noteworthy losers was GameStop (GME), which fell $1.64, or 4.18%, to $37.62 after reporting weaker than expected Q3 results. Electronic Arts (EA) also slipped 4.75% to $68.98 after GameStop made comments about its "Star Wars Battlefront" game falling short of expectations so far, though several analysts contended the game retailer's comments should be taken with a grain of salt, cautioning that a shift to digital sales may be playing a role in that apparent softness. INDEXES: The Dow fell 31.13, or 0.17%, to 17,792.68, the Nasdaq lost 2.44, or 0.05%, to 5,102.48, and the S&P 500 slipped 2.58, or 0.12%, to 2,086.59.
13:25 EDTLULULululemon adds to gains as takeover speculation persists
Shares of Lululemon Athletica (LULU) rose in afternoon trading as speculation over a possible takeover by a larger rival persists, fueled by continued media mentions. WHAT'S NEW: On Friday, dealReporter credited a Thursday gain for Lululemon to "unsubstantiated rumors" that Under Armour (UA is seeking to make a $62 per share takeover bid for the yoga apparel maker. DealReporter said that Under Armour may not be the best fit to acquire Lululemon based on differences in branding, marketing and culture, but said that Nike (NKE) would be a better fit to take over the apparel company, since it is in the "right position at the right time" to make such a deal work, contacts told The Fly. WHAT'S NOTABLE: Three days after dealReporter commented on the rumors, the New York Post said today that there was "plenty of chatter" that Lulu and Under Armour were in discussions over a possible deal, noting that the latter company has been "actively seeking" growth in the women's sportswear sector. The Post noted that Bloomberg Gadfly suggested that Nike should be spending $7.5B to acquire Lululemon instead of using that money for a $12B buyback. PRICE ACTION: In afternoon trading, Lululemon rallied 5% to $51.76. Over the past five days, Lululemon is up nearly 15%. Reference Link
November 22, 2015
13:42 EDTMMacy's shares look too cheap to ignore, Barron's says
Shares of Macy's look inexpensive, and long-term investors could realize double-digit annual returns as the company "gets back on track" over the next 12-18 months, Barron's contends in a 'Trader Extra' column. Reference Link
November 20, 2015
19:01 EDTMMacy's management to meet with JPMorgan
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13:26 EDTGPSOn The Fly: Top stock stories at midday
Stocks began the session sharply higher and have remained there since the open. The move higher has come despite a barren economic calendar and amid headlines coming out of Mali regarding a new terrorist event that took place there. The equity market is working on its fourth higher close in the past five sessions, while oil prices continue struggling to stay above $40 per barrel. ECONOMIC EVENTS: In the U.S., no major economic data was released. COMPANY NEWS: Shares of Nike (NKE) advanced nearly 5% after the Dow member announced a two-for-one stock split, a $12B stock repurchase program and plans to boost its dividend... BioMarin (BMRN) shares were down 4% near noon, but that was well off their worst levels of the day, after the FDA posted briefing materials ahead of next weeks advisory committee meeting to review the New Drug Application for Kyndrisa for the potential treatment of Duchenne muscular dystrophy amendable to exon 51 skipping. Sarepta (SRPT), which is at work on a competing drug, eteplirsen, that has its own committee review scheduled for January, rose 31% and another player in the DMD space, PTC Therapeutics (PTCT), fell 7.5%. MAJOR MOVERS: Among the notable gainers was Abercrombie & Fitch (ANF), which rallied 21% after the company reported better than expected quarterly earnings. Also higher was Cabela's (CAB), which gained 10% after Bloomberg reported that the company was receiving takeover interest. In addition, Foot Locker (FL) was up 5% after reporting Q3 earnings and guiding for Q4. Among the noteworthy losers was Nimble Storage (NMBL), which fell 50% after its stock was downgraded by no fewer than 11 analysts following its quarterly report. Also lower was Mentor Graphics (MENT), which lost 32% after its shares were downgraded by no fewer than five analysts. INDEXES: In early afternoon trading, the Dow was up 101.65, or 0.57%, to 17,834.40, the Nasdaq was up 32.02, or 0.63%, to 5,105.66, and the S&P 500 was up 10.09, or 0.48%, to 2,091.33.
09:36 EDTLULUNike, not Under Armour, should buy lululemon, dealReporter says
Lululemon (LULU) gained 3.6% yesterday, which dealReporter credits to "unsubstantiated rumors" that Under Armour (UA) was planning to make a $62 per share takeover bid. Given the differences in their branding, marketing, and culture, dealReporter said it is not sure such a deal would be a good fit, but added that it believes Nike (NKE) is in the "right position at the right time" to make such an acquisition of lululemon work, contacts tell The Fly.
November 19, 2015
19:19 EDTGPSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Intuit (INTU), up 8.1%... Ross Stores (ROST), up 8.2%. ALSO HIGHER: Cabela's (CAB), up 7.5% after Bloomberg reported that the company is receiving takeover interest... Nike (NKE), up 3.4% after announcing a $12B repurchase program, a two-for-one stock split, and that it will raise its dividend... Centene (CNC), up 2.4% after reiterating its fiscal 2015 earnings per share guidance... Universal Insurance (UVE), up 2.7% after announcing a new $10M share repurchase program. DOWN AFTER EARNINGS: Nimble Storage (NMBL), down 36.9%... Mentor Graphics (MENT), down 26.2%... Workday (WDAY), down 5.5%... Wesco Aircraft (WAIR), down 1.4%... Williams-Sonoma (WSM), down 3.7%... Zoe's Kitchen (ZOES), down 3.6%... Momo (MOMO), down 3.3%... Autodesk (ADSK), down 1%... Gap (GPS), down marginally.
16:27 EDTGPSGap lowers FY15 adjusted EPS view to $2.38-$2.42 from $2.75-$2.80
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16:24 EDTGPSGap continues to see FY15 CapEx approximately $800M
16:23 EDTGPSGap reports Q3 SSS down 2%
Gap's comparable sales for the third quarter were down 2% versus a 2% decrease last year. Comparable sales by global brand for the third quarter were as follows: Gap Global: negative 4% versus negative 5% last year; Banana Republic Global: negative 12% versus flat last year; Old Navy Global: positive 4% versus positive 1% last year.
16:21 EDTGPSGap reports Q3 adjusted EPS 63c, consensus 63c
Reports Q3 revenue $3.86B, consensus $3.9B. Gap Inc.'s comparable sales for the third quarter of fiscal year 2015 were down 2% versus a 2% decrease last year.
15:21 EDTGPSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Intuit (INTU), consensus (4c)... Ross Stores (ROST), consensus (50c)... Workday (WDAY), consensus (4c)... Autodesk (ADSK), consensus 8c... Gap (GPS), consensus 63c... Splunk (SPLK), consensus 1c... Williams-Sonoma (WSM), consensus 72c... Mentor Graphics (MENT), consensus 29c.
14:08 EDTGPSGap technical comments ahead of earnings
The shares are trading near multi-year lows ahead of earnings, with a strong downtrend bias. If the news continues to be bearish, the downtrend is likely to extend. Support levels to watch as potential downside objectives would be at $24.41, $22.58, and $21.17. If the news is instead a bullish surprise, the first significant resistance level would be at the 30-day moving average which was last at $26.86. A move above the 30-day would break the current downtrend leg. Next resistance levels would be at $28.37 and then at $29.15.
11:00 EDTLULUlululemon November calls active on renewed takeover speculation
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10:55 EDTLULURumor: lululemon strength attributed to renewed takeover speculation
The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved.
November 18, 2015
09:08 EDTMTJX benefitting from off-price retail market growth, WSJ says
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05:41 EDTGPSGap implied volatility of 43 at upper end of index mean range
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November 17, 2015
10:42 EDTGPSGap volatility elevated into Q3 and outlook
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10:11 EDTMOptions with decreasing implied volatility
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05:36 EDTGPSGap implied volatility of 42 at upper end of index mean range
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