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December 26, 2012
16:21 EDTMED, AEO, MRVL, RIMM, KORS, GOL, COHOn 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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January 29, 2015
07:54 EDTCOHCoach says 'on track' with strategic agenda
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07:07 EDTCOHCoach reports Q2 EPS 72c ex-items, consensus 66c
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January 28, 2015
15:38 EDTCOHNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Celgene (CELG), consensus 99c... ConocoPhillips (COP), consensus 59c... Abbott Laboratories (ABT), consensus 67c... Occidental Petroleum (OXY), consensus 68c... Colgate-Palmolive (CL), consensus 74c... Ford (F), consensus 23c... Dow Chemical (DOW), consensus 69c... Alibaba (BABA), consensus 75c... Thermo Fisher (TMO), consensus $1.94; Time Warner Cable (TWC), consensus $2.09... Phillips 66 (PSX), consensus $1.34... Alexion Pharmaceuticals (ALXN), consensus $1.29... Baxter International (BAX), consensus $1.31... Cardinal Health (CAH), consensus $1.10... Raytheon (RTN), consensus $1.08... Northrop Grumman (NOC), consensus $2.25... Viacom (VIAB), consensus $1.28... Valero Energy (VLO), consensus $1.32... Sherwin-Williams (SHW), consensus $1.38... Hershey (HSY), consensus $1.06... Mead Johnson (MJN), consensus 88c... Zimmer (ZMH), consensus $1.71... Xcel Energy (XEL), consensus 34c... Royal Caribbean (RCL), consensus 42c... Coach (COH), consensus 66c... Kate Spade (KATE), consensus 24c... Harley-Davidson (HOG), consensus 34c... Stanley Black & Decker (SWK), consensus $1.52... L-3 Communications (LLL), consensus $2.27... JetBlue (JBLU), consensus 24c.
14:55 EDTCOHCoach January weekly 37 straddle priced for 7.6% movement into Q4
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January 27, 2015
07:26 EDTCOHCoach January weekly volatility elevated into Q4 and outlook
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January 26, 2015
17:22 EDTCOHCoach moves Q2 earnings release to January 29
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15:48 EDTCOHCoach technical notes ahead of earnings
The shares have been trading in a wide range, but a well-defined base, since the late summer of last year. The range is largely bound by $33.50 at the low and $38 at the high. A breakout above the top of the range would be bullish, with the prospect of putting the stock back on a more bullish path. A move above the $40 level in particular would break the prevailing downtrend. The $40 level is where the stock broke to the base low in the late summer of 2014. If the low of the range were tested without breaking, then the current range would likely remain intact. A breakdown below the low of the range would find next support at the 52-week low at $32.72.
15:40 EDTCOHNotable companies reporting before tomorrow's open
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January 23, 2015
10:02 EDTKORSOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmSurg (AMSG) upgraded to Overweight from Neutral at Piper Jaffray... Anglo American (AAUKY) upgraded to Neutral from Sell at Goldman... Autobytel (ABTL) upgraded to Buy from Hold at Ascendiant... Charles River Labs (CRL) upgraded to Outperform from Market Perform at William Blair... Chesapeake (CHK) upgraded to Outperform from Neutral at Credit Suisse... CubeSmart (CUBE) upgraded to Buy from Neutral at SunTrust... Cypress Semiconductor (CY) upgraded to Neutral from Underweight at JPMorgan... DreamWorks Animation (DWA) upgraded to Overweight from Neutral at Piper Jaffray... E-Trade (ETFC) upgraded at Credit Suisse... Kate Spade (KATE) upgraded to Buy from Neutral at Mizuho... LinkedIn (LNKD) upgraded to Strong Buy from Market Perform at Raymond James... Matthews (MATW) upgraded to Outperform from Neutral at Macquarie... Meridian Bioscience (VIVO) upgraded to Buy from Hold at Craig-Hallum... Michael Kors (KORS) upgraded to Buy from Neutral at Mizuho... NIC Inc. (EGOV) upgraded to Hold from Sell at Maxim... Natural Grocers (NGVC) upgraded to Overweight from Neutral at Piper Jaffray... Nucor (NUE) upgraded to Buy from Neutral at Goldman... ResMed (RMD) upgraded to Buy from Hold at Needham... Smith & Wesson (SWHC) upgraded to Buy from Neutral at Dougherty... Ternium (TX) upgraded to Neutral from Sell at Goldman... Union Pacific (UNP) upgraded to Buy from Hold at BB&T... ZAGG (ZAGG) upgraded to Buy from Hold at Craig-Hallum... lululemon (LULU) upgraded to Overweight from Neutral at JPMorgan.
08:10 EDTMRVLMarvell product could replace Qualcomm Snapdragon, says RBC Capital
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07:01 EDTKORSMichael Kors to open flagship store in Japan's Ginza
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06:37 EDTKORSMichael Kors upgraded to Buy from Neutral at Mizuho
06:09 EDTCOHCoach January weekly volatility elevated into Q4 and outlook
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January 21, 2015
20:07 EDTGOLGOL Linhas proposes new corporate structure, new corporate governance
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10:01 EDTKORSOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ashford Hospitality (AHT) upgraded to Outperform from Neutral at Credit Suisse... BAE Systems (BAESY) upgraded to Buy from Neutral at Goldman... Bazaarvoice (BV) upgraded to Outperform from Market Perform at Cowen... Becton Dickinson (BDX) upgraded to Outperform at Cowen... CVS Health (CVS) upgraded to Buy from Neutral at Goldman... Camden Property (CPT) upgraded to Outperform from Neutral at Credit Suisse... ConocoPhillips (COP) upgraded to Buy from Neutral at BofA/Merrill... Cornerstone OnDemand (CSOD) upgraded to Buy from Neutral at DA Davidson... Cree (CREE) upgraded to Overweight at Stephens... DDR Corp. (DDR) upgraded to Outperform from Neutral at Credit Suisse... EastGroup Properties (EGP) upgraded to Outperform from Neutral at Credit Suisse... Energy Transfer Partners (ETP) upgraded to Outperform from Neutral at Credit Suisse... Esperion (ESPR) upgraded at BofA/Merrill... Exxon Mobil (XOM) upgraded to Outperform from Market Perform at Wells Fargo... FXCM (FXCM) upgraded to Market Perform from Underperform at Keefe Bruyette... Fair Isaac (FICO) upgraded to Overweight from Equal Weight at Barclays... Golar LNG (GLNG) upgraded to Buy from Hold at Nordea... Gran Tierra (GTE) upgraded to Buy at Canaccord... Host Hotels (HST) upgraded to Outperform from Neutral at Credit Suisse... J.M. Smucker (SJM) upgraded to Overweight from Neutral at JPMorgan... Kilroy Realty (KRC) upgraded to Neutral from Underperform at Credit Suisse... Level 3 (LVLT) upgraded to Outperform from Market Perform at Wells Fargo... Lowe's (LOW) upgraded to Overweight from Equal Weight at Morgan Stanley... Michael Kors (KORS) upgraded to Outperform at Cowen... Netflix (NFLX) upgraded at Nomura... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ruckus Wireless (RKUS) upgraded to Outperform from Market Perform at Northland... Santander Mexico (BSMX) upgraded to Neutral from Underperform at Credit Suisse... Scorpio Tankers (STNG) upgraded to Buy at Canaccord... Sprouts Farmers Markets (SFM) upgraded to Buy from Neutral at BofA/Merrill... Strategic Hotels (BEE) upgraded to Outperform from Neutral at Credit Suisse... The Medicines Co. (MDCO) upgraded to Outperform from Market Perform at Leerink... Whole Foods (WFM) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Neutral from Underperform at Exane BNP Paribas.
09:25 EDTKORSMichael Kors estimates remain ahead of consensus at ITG Research
ITG Research's data indicates Michael Kors year-over-year traffic trends ramped in October and peaked in early December but remains substantially stronger than trends observed coming out of Q2 and the firm's Q3 revenue estimates remains above consensus.
08:00 EDTKORSMichael Kors upgraded to Outperform at Cowen
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06:02 EDTKORSMichael Kors upgraded to Outperform from Market Perform at Cowen
January 20, 2015
06:57 EDTKORSMichael Kors relative valuation looks compelling, says Piper Jaffray
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06:08 EDTGOLGOL Linhas downgraded to Sell from Neutral at Goldman
Goldman downgraded GOL Linhas to Sell based on expectations for a decline in yields, softer demand, weak currency, and increased capacity. Price target is $4.20.
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