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June 10, 2014
14:19 EDTLULU, ADDYY, VFCAnalyst suggests lululemon could be takeover target, Globe and Mail says
According to industry speculation, lululemon (LULU) may become a takeover target, says the Globe and Mail. Camilo Lyon, managing director of equity research at Canaccord Genuity said in a report that possible suitors of lululemon include VF Corp. (VFC) and Adidas (ADDYY), adds the Globe and Mail. Shares of Lululemonare up 1.6% to $45.73 in afternoon trading. Reference Link
News For LULU;VFC;ADDYY From The Last 14 Days
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November 25, 2015
11:47 EDTVFCGuess surges after Q3 profit beats estimates
Shares of Guess (GES), which licenses and distributes apparel and accessories, are advancing after the company's third quarter profit surpassed analysts' consensus estimates. WHAT'S NEW: Last night, Guess reported Q3 earnings per share of 15c, beating estimates of 11c, and revenue of $521M, matching the consensus forecast. In constant currency, total net revenue decreased 3.9%. Q3 retail comparable sales including e-commerce decreased 6% in U.S. dollars and 2% in constant currency. Victor Herrero, Chief Executive Officer, commented, "I am pleased to report that third quarter results were better than our expectations. Our European retail business was especially strong with a double digit comp sales increase for the quarter for the first time in five years." GUIDANCE: Looking ahead to Q4, Guess forecast EPS of 53c-62c, versus consensus of 59c. It sees Q4 net revenues to range between a decline of 1.5% and an increase of 1.5% in constant currency, compared to consensus of $662.8M. Currency headwinds are expected to negatively impact consolidated revenue growth by approximately 5.5%, for a net decline between 7.0% and 4.0%. The estimated impact on earnings per share of the currency headwinds is approximately 18c. For FY16, Guess raised the bottom end of its EPS outlook to 93c-$1.02 from 89c-$1.02, compared to consensus of 96c. FY16 revenue is forecast to decline between 1.5% and 0.5% in constant currency, versus consensus of $2.21B. Currency headwinds are expected to negatively impact consolidated revenue growth by approximately 8.0%, for a net decline between 9.5% and 8.5%. The estimated impact on FY16 earnings per share of the currency headwinds is approximately 40c. PRICE ACTION: In late morning trading, Guess rose $1.60, or about 8.2%, to $21.14 on heavy trading volume. Despite today's advance, the shares have lost approximately 7% over the past 12 months. OTHERS TO WATCH: Other companies that distribute and license apparel and accessories include PVH Corp. (PVH), Ralph Lauren (RL), Perry Ellis (PERY) and VF Corp. (VFC).
06:23 EDTLULUlululemon implied volatility of 61 at upper end of index mean range
November 24, 2015
08:51 EDTLULUExpress American Eagle lululemon business trends strong, says BMO Capital
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05:58 EDTLULUlululemon implied volatility of 62 at upper end of index mean range
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 20, 2015
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
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.
07:26 EDTADDYYDeutsche Bank to hold a virtual conference
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November 16, 2015
17:02 EDTLULUPoint72 added to lululemon position, subtracted from Netflix position
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November 13, 2015
10:50 EDTLULUOptions with increasing implied volatility
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07:46 EDTVFCVF Corp. weakness a buying opportunity, says Canaccord
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