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Stock Market & Financial Investment News

News Breaks
December 26, 2012
16:21 EDTKORS, GOL, COH, MED, AEO, MRVL, RIMMOn The Fly: Closing Wrap
Stocks on Wall Street were lower on the day amid reports indicating that this season's holiday season may have been weaker than expected. MasterCard's SpendingPulse unit estimated that spending between October 28 and Christmas Eve rose just 0.7% from a year ago. Data from Consumer Growth Partners indicated a 2.8% sales increase for the holiday period, which would equate to the worst holiday-shopping season growth since 2009... ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller index of property values in 20 cities increased 4.3% in October from a year ago, versus expectations for a 4% gain. The Richmond Fed December manufacturing survey fell to 5 from a prior reading of 9. Analysts had forecast a drop to a reading of 8. In Europe, most markets were closed. Asian markets, particularly Japan's, traded broadly higher for a second-straight session, as the official appointment of Shinzo Abe as Japan's prime minister continued to drive down the Yen and lift Tokyo-traded share prices... COMPANY NEWS: A jury ordered Marvell Technologies (MRVL) to pay $1.17B in a patent case with Carnegie Mellon University. The Wall Street Journal first reported the news, and a later report by the Pittsburgh Post-Gazette said that if Marvell is found to have willfully violated the patent, the damages due to Carnegie Mellon could triple. Shares of Marvell traded sharply lower following the news, eventually settling down 85c, or 10.30%, to $7.40 on the session... Retail and apparel makers' stocks slid after reports indicated that holiday sales were likely weaker than expected. Among the worst performing retail stocks were Coach (COH), down $3.39, or 5.89%, to $54.13, Michael Kors (KORS), down $3.54, or 6.61%, to $50.03, and American Eagle Outfitters (AEO), down 84c, or 4.10%, to $19.65... MAJOR MOVERS: Among the notable gainers was GOL Linhas (GOL), a low-cost airline in Latin America which saw its U.S. listed shares gain 53c, or 9.09%, to $6.36 after the company announced late Friday that it has segregated the activities of its "Smiles" loyalty program, a business unit it previously said may be put up for an initial public offering. Also higher were shares of Research in Motion (RIMM), up $1.22, or 11.45%, to $11.82 after shares had lost nearly 25% in the two sessions following the release of its Q3 earnings after the close last Thursday. Among the noteworthy losers was Medifast (MED), down $3.86, or 13.15%, to $25.50 after the company's acting CFO resigned... INDICES: The Dow was down 24.49, or 0.19%, to 13,114.59; the Nasdaq was down 22.44, or 0.74%, to 2,990.16; the S&P was down 6.83, or 0.48%, to 1,419.83.
News For MRVL;COH;KORS;AEO;GOL;RIMM;MED From The Last 14 Days
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April 23, 2014
10:33 EDTKORSKate Spade has more 2014 upside than Michael Kors, says Citigroup
Citigroup in a note to investors earlier today discussed its head-to-head analysis of Kate Spade (KATE) versus Michael Kors (KORS). Citi believes Michael Kors is further along in the maturity curve than Kate Spade and has less upside potential in 2014. The firm views Kate Spade's risk/reward as better and keeps a Buy rating on the stock with a $42 price target. Citi raised its price target for Michael Kors shares to $107 from $104, and keeps a Hold rating on the stock.
April 22, 2014
13:47 EDTMRVLMarvell firing 200 employees in Israel, Globes says
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08:13 EDTMEDMedifast backs FY14 EPS $1.80-$1.90, consensus $1.83
Backs FY14 revenue $340M-$380M, consensus $256.5M
08:12 EDTMEDMedifast sees Q1 EPS to exceed guidance of 32c-35c, consensus 35c
Expects Q1 revenue to fall within previously announced range of $86M-$88M, consensus $88.1M.
08:11 EDTMEDMedifast sells 11 weight control centers to Medix
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April 21, 2014
16:37 EDTKORSLone Pine Capital reports 5.5% passive stake in Michael Kors
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April 15, 2014
12:01 EDTKORSMichael Kors announces eyewear license with Luxottica
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10:35 EDTMEDMedifast to host analyst day
Analyst day to be held in New York on April 22 at 9 am. Webcast Link
09:42 EDTKORSMichael Kors growth story may be showing signs of cracks, Herb Greenberg says
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April 12, 2014
19:57 EDTGOLGol Linhas receives authorization to operate flights from Campinas to Rio
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April 11, 2014
13:36 EDTAEOGap falls after experiencing sharp decline in March SSS
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08:52 EDTGOLGol Linhas and TAP enter into a codeshore agreement
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April 10, 2014
14:26 EDTKORSMichael Kors volatility stays flat on wide price movement
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