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Stock Market & Financial Investment News

News Breaks
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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May 19, 2015
15:29 EDTAEOAmerican Eagle technical comments before earnings
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15:00 EDTAEONotable companies reporting before tomorrow's open
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11:05 EDTCOHRumor: Coach spikes up on renewed speculation of an activist investor stake
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08:00 EDTAEOAmerican Eagle announces license agreements in South Korea, Singapore, Greece
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06:00 EDTKORSStocks with implied volatility above IV index mean; KORS ALTR
Stocks with implied volatility above IV index mean; Michael Kors (KORS) 38, Altera (ALTR) 72 according to iVolatility.
May 18, 2015
20:16 EDTAEOUrban Outfitters down over 16% after disappointing Q1 results
Urban Oufitters (URBN) is down sharply after reporting first quarter earnings per share and revenue that missed analyst estimates. WHAT'S NEW: Urban Oufitters reported Q1 EPS of 25c on revenue of $739.01M, below consensus expectations of 30c and $758.25M, respectively. Urban Outfitters also reported Q1 comparable retail segment net sales up 4%, with Q1 retail segment net sales increasing 17% at Free People, 5% at Urban Outfitters, and 1% at the Anthropologie Group. Wholesale segment net sales rose 18%. WHAT'S NOTABLE: On its Q1 earnings conference call, Urban Outfitters announced that Urban Outfitters Group CEO Ted Marlow, who oversaw the direction of the namesake brand, would retire at the end of August. While Urban Outfitters did not provide guidance, Urban Outfitters Anthropologie Group CEO David McCreight commented on the Anthropologie brand, "We're expecting we could see Q2 shaping up like Q1 in terms of low single-digit comps. We could also see being in the low-mid-single digit comps. It's hard to tell at this point." ANALYST REACTION: Two analyst firms lowered their respective price targets on Urban Outfitters following the company's earnings report. Sterne Agee, which rates Urban Outfitters a Neutral, lowered its 12-month price target to $34 from $46, noting the company has had trouble getting both its Urban Outfitters and Anthropologie brands to perform at the same time. Cantor, which maintained its Buy rating, lowered its price target to $53 from $54, saying that Anthropologie sales disappointed, but noting that a "later catalog release appears to us to have pushed some sales at Anthropologie into May." PRICE ACTION: Urban Outfitters fell 16.4% to just over $34 in after-hours trading. PEERS: Other publicly traded companies in the space include Abercrombie & Fitch (ANF), American Eagle (AEO), Five Below (FIVE), Pacific Sunwear (PSUN), and Zumiez (ZUMZ).
12:01 EDTAEOAmerican Eagle management to meet with Guggenheim
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May 15, 2015
16:51 EDTMRVLGreenlight Capital gives quarterly update on stakes
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08:24 EDTAEOAmerican Eagle, Express should be bought ahead of results, says BMO Capital
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07:41 EDTAEOAmerican Eagle volatility elevated into Q1 and outlook
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05:52 EDTKORSStocks with implied volatility above IV index mean; KORS SPLS
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May 14, 2015
13:44 EDTKORSMichael Kors weekly volatility elevated into Q4 and outlook
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13:28 EDTKORSIncreasing equity options volume
Increasing equity options volume: FCX UPS KSS CHK CSCO AVP YOKU CALM KORS
10:00 EDTKORS, COHOn The Fly: Analyst Initiation SummaryT
Today's noteworthy initiations include: Advaxis (ADXS) initiated with a Buy at MLV & Co.... Akebia (AKBA) initiated with a Buy at Brean Capital... CarMax (KMX) initiated with a Buy at Sterne Agee CRT... Coach (COH) initiated with a Neutral at Wedbush... Euronav NV (EURN) initiated with an Outperform at Credit Suisse... Franco-Nevada (FNV) initiated with an Outperform at Macquarie... Kate Spade (KATE) initiated with an Outperform at Wedbush... Lumber Liquidators (LL) initiated with a Perform at Oppenheimer... Michael Kors (KORS) initiated with a Neutral at Wedbush... National Instruments (NATI) initiated with an Overweight at Stephens... Royal Gold (RGLD) initiated with an Outperform at Macquarie... Spectra Energy Partners (SEP) initiated with a Buy at Janney ... Spectra Energy (SE) initiated with a Buy at Janney Capital... Tribune Publishing (TPUB) initiated with a Buy at Sterne Agee CRT.
06:33 EDTCOHCoach initiated with a Neutral at Wedbush
Target $37.
06:33 EDTKORSMichael Kors initiated with a Neutral at Wedbush
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May 13, 2015
10:01 EDTAEOOn The Fly: Analyst Upgrade Summary
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06:08 EDTAEOAmerican Eagle upgraded to Outperform from Market Perform at Cowen
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05:16 EDTGOLGOL Linhas reports Q1 operating income R$153M
Reports Q1 revenue R$2.5B. Reports Q1 EBIT margin of 6.1%.
May 11, 2015
06:10 EDTAEOStocks with implied volatility above IV index mean; AEO CBI
Stocks with implied volatility above IV index mean; American Eagle (AEO) 42, Chicago Bridge & Iron (CBI) 55 according to iVolatility.
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