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Stock Market & Financial Investment News

News Breaks
December 26, 2012
16:21 EDTGOL, COH, MED, AEO, MRVL, RIMM, KORSOn 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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November 13, 2014
07:27 EDTMRVLMarvell volatility elevated into Q1 and outlook
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05:28 EDTMRVLMarvell downgraded to Sell from Neutral at Goldman
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November 12, 2014
11:06 EDTCOHStocks with call strike movement; COH CF
Coach (COH) May 40 call option implied volatility increased 2% to 30, CF Industries (CF) February 295 call option implied volatility increased 5% to 28 according to IVolatility.
10:00 EDTAEOAmerican Eagle rises on raised Q3 guidance, levels to watch
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08:03 EDTAEOAmerican Eagle raises Q3 adjusted EPS view to 22c from 17c-19c
Consensus is 18c. Including restructuring and asset impairment charges of (17c), GAAP earnings are estimated to be 5c per share. Last year, the company earned adjusted EPS of 19c in the third quarter, which excluded asset impairment charges of (6c). The earnings improvement over last year was primarily due to an improvement in markdowns and lower expenses. Third quarter net revenues declined slightly on a comparable sales decline of 5%. The EPS guidance excludes charges of approximately (17c) primarily due to store impairments and corporate overhead reductions related to the company’s profit improvement initiatives. These actions are expected to enable the company to fund key initiatives and generate savings to strengthen future earnings. “Third quarter earnings exceeded our expectations and margins were ahead of last year. We are encouraged by our ability to reduce promotional activity, particularly given the challenging and highly promotional retail climate,” said Jay Schottenstein, Interim CEO. “The team is making steady progress on merchandise improvements. Yet as we approach the holidays, we remain cautious given the ongoing weakness in mall traffic. The restructuring activities reflect our resolve to strengthen our business to deliver higher profitability and returns to shareholders.” Third quarter ending inventories are expected to be down, consistent with prior guidance.
07:58 EDTKORSFossil price target raised to $150 from $140 at Jefferies
Jefferies raised its price target for Fossil (FOSL) shares to $150 saying the company's renewed agreement with Michael Kors (KORS) removes an overhang on the stock. The firm thinks Fossil's European growth potential associated with the Kors relationship is underappreciated. It reiterates a Buy rating on the stock.
06:00 EDTAEOAmerican Eagle implied volatility of 60 at upper end of index mean range
November 11, 2014
18:24 EDTGOLGOL Linhas reports Q3 revenue up 10% to R$2.5B
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16:02 EDTKORSMichael Kors, Fossil renew global licensing agreement
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08:01 EDTKORS, COHMichael Kors promotions picked up in November, says Jefferies
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07:49 EDTAEO, COHBofA/Merrill retail and consumer analysts hold analyst/industry conference call
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05:59 EDTAEOAmerican Eagle implied volatility of 60 at upper end of index mean range
November 10, 2014
11:35 EDTKORSStocks with call strike movement; WFM KORS
Whole Foods (WFM) February 52.5 call option implied volatility increased 2% to 28, Michael Kors (KORS) May 85 call option implied volatility decreased 2% to 31 according to IVolatility.
10:04 EDTAEOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
07:22 EDTAEOU.S. Retail Softlines sector downgraded to Negative at Barclays
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07:11 EDTAEOOpen Mobile Media to hold a summit
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06:16 EDTAEOAmerican Eagle downgraded to Neutral from Buy at B. Riley
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05:54 EDTAEOStocks with implied volatility movement; WFM AEO
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05:48 EDTAEOU.S. Retail Softlines industry cut to Negative at Barclays
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05:36 EDTAEOAmerican Eagle downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded American Eagle to Equal Weight after reducing its outlook for the retail industry. The firm says its industry data suggests substantial risk to its sales expectations for American Eagle. Barclays lowered its price target for shares to $11 from $15.
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