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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:50 EDTM, LULU, VFC, GPSlululemon plummets to 52-week low after outlook cut, CFO retires
Shares of athletic apparel retailer lululemon (LULU) are sinking after the company's second quarter view missed analysts' consensus estimates and it lowered its fiscal 2014 outlook. The company's CFO, John Currie, also announced his retirement. WHAT'S NEW: This morning, lululemon reported Q1 adjusted earnings per share of 34c and revenue of $384.6M, topping estimates of 32c and $381.24M, respectively. Q1 SSS on a combined basis increased 1% on a constant dollar basis. Comparable corporate-store sales for Q1 decreased by 4% on a constant dollar basis and direct to consumer revenue increased 25% on a constant dollar basis. For Q2, the company forecast EPS of 28c-30c and revenue of $375M-$380M, falling short of consensus of 36c and $387.19M, respectively. The company lowered its FY14 normalized EPS view to $1.71-$1.76 from $1.80-$1.90, compared to consensus of $1.89. It also narrowed its FY14 revenue guidance to $1.77B-$1.8B from $1.77B-$1.82B, versus consensus of $1.8B. The company's CFO, John Currie, also announced his intention to retire by the end of the fiscal year. WHAT'S NOTABLE: On its earnings conference call, the company said Q2 sales have started off behind plan and that comps have been "more impacted than originally anticipated." ANALYST REACTION: Following the company's quarterly report, the stock was downgraded to Market Perform from Outperform at William Blair and was downgraded to Hold from Buy at Stifel. OTHERS TO WATCH: lululemon has been facing increased competition from rival yoga-wear retailers and department stores such as Gap's (GPS) Athleta brand, VF Corp's (VFC) lucy, Macy's (M), and others who are selling athletic-wear at lower prices and across more locations, according to a Reuters report. PRICE ACTION: In late morning trading, lululemon fell about 15% to $37.87 on nearly six times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $37.00. Including today's pull back, the stock is down approximately 41% over the past 12 months.
News For LULU;GPS;VFC;M From The Last 14 Days
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December 11, 2014
09:14 EDTLULUlululemon says Black Friday sales 'very strong'
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07:51 EDTVFCCredit Suisse to hold a conference
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05:39 EDTLULUlululemon sees FY14 normalized EPS $1.74-$1.78, consensus $1.77
Sees FY14 revenue $1.77B-$1.78B, consensus $1.79B. Sees FY14 SSS up in the low single digits on a constant dollar basis. Sees FY14 EPS $1.53-$1.57.
05:36 EDTLULUlululemon sees Q4 EPS 65c-69c, consensus 72c
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05:34 EDTLULUlululemon reports Q3 EPS 42c, consensus 38c
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December 10, 2014
15:25 EDTLULUNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Lululemon (LULU), consensus 38c; RadioShack (RSH), consensus ($1.04); Ciena (CIEN), consensus 13c; Methode Electronics (MEI), consensus 55c.
14:12 EDTLULULululemon December weekly 48 straddle priced for 10% move into Q3
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14:06 EDTLULUEarnings Preview: Lululemon Q3 could be positive turning point, analyst says
Lululemon Athletica (LULU) is scheduled to report third quarter earnings before the market open on Thursday, December 11, with a conference call scheduled for 9:00 am ET. Lululemon is a designer and retailer of yoga-inspired apparel operating primarily in North America and Australia. EXPECTATIONS: Analysts are looking for earnings per share of 38c on revenue of $424.68, according to First Call. The consensus range for EPS is 37c-41c on revenue of $420M-$430.54M. LAST QUARTER: Lululemon reported second quarter EPS of 33c on revenue of $390.7M, beating estimates for 29c and $367.8M, respectively. Total same-store sales were flat in Q2 on a constant dollar basis; Comparable store sales for Q2 decreased by 5% on a constant dollar basis and direct to consumer revenue increased 30% on a constant dollar basis. Looking ahead, the company raised its fiscal year 2014 normalized EPS view to $1.72-$1.77 from $1.71-$1.76 and narrowed its revenue view to $1.78B-$1.8B from $1.77B-$1.8B against estimates at that time for $1.74 and $1.78B, respectively. Third quarter EPS was forecast at 36c-38c on revenue of $420M-$425M. Q3 guidance was based on a total combined comparable sales increase in the low single digits on a constant dollar basis. The retailer forecast Q3 and FY14 gross margin of approximately 51%. NEWS: During its Q2 earnings conference call, lululemon said it was "happy" to have Advent back as a shareholder and is "looking forward" to having Advent's guidance going forward. STREET RESEARCH: Yesterday, Wells Fargo upgraded the stock to Outperform from Market Perform. Lululemon should benefit from the strength of the athletic apparel category, as well as the annual growth of over 10% in the total square footage of its stores, Wells Fargo believes. Meanwhile, the firm said its merchandise margins should increase in 2015, as it is offering smaller discounts than in the past. Barclays, which has an Overweight rating and $55 target, also wrote yesterday that the company's Q3 results could be a positive turning point for shares. Although Barclays analyst Matthew McClintock expects the company to report Q3 earnings per share of 38c, in-line with the consensus estimate, he believes that the company's comparative sales rose 1.8% last quarter, versus the same period a year earlier. If lululemon reports a 1.8% comp increase, it would mark the first time since the second quarter of 2013 that its comparative sales growth accelerated compared with the previous quarter, the analyst noted. In November, Sterne Agee downgraded lululemon to Neutral from Buy, as it believes that the company's brand has been damaged, causing many customers to leave, while its competition has become stronger. At the time of its downgrade on November 14, Sterne Agee had a price target of $39 on the stock. PRICE ACTION: Over the last three months, lululemon shares are up almost 25%. Year-to-date, shares are down nearly 20%. In afternoon trading ahead of tomorrow's earnings report, shares are down 1.25% to $47.13.
December 9, 2014
11:43 EDTLULUlululemon advances after Wells upgrade, upbeat Barclays note
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10:28 EDTLULUlululemon trades up in down tape, levels to watch
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10:23 EDTMOn The Fly: Analyst Downgrade Summary
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10:23 EDTLULUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Eagle (AEO) upgraded to Outperform from Perform at Oppenheimer... Concho Resources (CXO) upgraded to Outperform from Neutral at Macquarie... Hanmi Financial (HAFC) upgraded to Outperform from Market Perform at FBR Capital... LHC Group (LHCG) upgraded to Outperform from Underperform at Credit Suisse... Lincoln Electric (LECO) upgraded to Buy from Neutral at Longbow... Northeast Utilities (NU) upgraded to Outperform from Neutral at Macquarie... SM Energy (SM) upgraded to Outperform from Neutral at Macquarie... Volcano (VOLC) upgraded at Needham... Wells Fargo sees fewer distractions for lululemon (LULU), upgrades shares... Xcel Energy (XEL) upgraded to Outperform from Neutral at Macquarie... lululemon (LULU) upgraded to Outperform from Market Perform at Wells Fargo.
08:14 EDTMMacy's downgraded at Atlantic Equities
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08:06 EDTMMacy's downgraded to Neutral from Overweight at Atlantic Equities
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07:44 EDTLULULululemon Athletica volatility elevated into Q3 and outlook
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07:30 EDTLULUWells Fargo sees fewer distractions for lululemon, upgrades shares
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07:09 EDTLULUlululemon's Q3 results could mark an inflection point, says Barclays
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05:41 EDTLULUlululemon upgraded to Outperform from Market Perform at Wells Fargo
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December 8, 2014
08:12 EDTVFCVF Corp., IFC distribute financing to Bangladeshi factories
VF Corporation and IFC, a member of the World Bank Group, announced they have provided loans to three Bangladeshi garment factories under a new program for funding fire and building safety improvements. Through the financing arrangement, VF provides a full corporate guarantee for up to $10M that the IFC and its partner BRAC Bank lend to VFs contract suppliers. VFs guarantee to back the loans makes it possible for IFC to lend at lower interest rates. This initiative helps VF suppliers in Bangladesh overcome financial obstacles to improving workplace safety conditions.
06:12 EDTLULUStocks with implied volatility above IV index mean; LULU ACHN
Stocks with implied volatility above IV index mean; lululemon (LULU) 53, Achillion (ACHN) 216 according to iVolatility.
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