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Stock Market & Financial Investment News

News Breaks
December 26, 2012
16:21 EDTMRVL, COH, KORS, AEO, GOL, RIMM, MEDOn 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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July 31, 2014
13:46 EDTKORSMichael Kors volatility increases into Q1
Michael Kors August 7 weekly calls option implied volatility is at 70, August is at 53, September is at 41, November is at 34, January is at 32; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement in the expected release of Q1 results before the open August 5.
10:03 EDTKORSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Enphase Energy (ENPH) initiated with an Outperform at Imperial Capital... Fission Uranium (FCUUF) initiated with a Buy at H.C. Wainwright... Fox Factory (FOXF) initiated with a Buy at BofA/Merrill... Michael Kors (KORS) initiated with a Buy at BofA/Merrill... Xunlei (XNET) initiated with an Overweight at JPMorgan... lululemon (LULU) initiated with a Positive at Susquehanna.
09:29 EDTKORSMichael Kors initiated with a Buy at BofA/Merrill
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July 30, 2014
10:30 EDTKORS, COHMichael Kors risks seen increasing, shares downgraded
Shares of accessories designer Michael Kors (KORS) are falling after research firm Robert W. Baird downgraded the stock in a note to investors earlier today. WHAT'S NEW: There is increased risk to Michael Kors' revenue and profit margins in North America, Baird analyst Mark Altschwager wrote. The firm's survey on handbags suggests that many fewer consumers are looking to buy handbags this quarter than in the prior quarter, the analyst stated. Additionally, the survey suggests that fewer women plan to buy a Michael Kors handbag in Q3 than in Q2, Baird stated. Meanwhile, Internet search trend data indicates that Michael Kors' trends in the U.S. decelerated in July, Altschwager stated. On a positive note, Michael Kors can still meet its guidance for a high teen percentage increase in Q1 comparative sales and the company's European business appears to be strong, the analyst stated. Moreover, the accessories maker's Q1 results and its guidance are likely to be in-line with expectations, Altschwager believes. However, he "sees less room" for the company's Q1 results to beat expectations. The analyst lowered his price target on the shares to $98 from $114 and cut his rating to Neutral from Outperform. WHAT'S NOTABLE: In recent days Topeka, Morgan Stanley, and Piper Jaffray recommended buying Michael Kors' stock following its weakness. However, BMO Capital called the stock overvalued and Citigroup wrote that its own survey showed that Michael Kors' watch sales were moderating. PRICE ACTION: In early trading, Michael Kors fell 1% to $82.91. Other companies in the space were mixed, as Coach (COH) gained 1.4% to $34.83 and Kate Spade (KATE) lost 0.6% to $38.45.
10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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07:53 EDTCOHHandbag survey points to demand deceleration, says RW Baird
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05:28 EDTKORSMichael Kors downgraded to Neutral from Outperform at RW Baird
RW Baird downgraded Michael Kors to Neutral after its Q3 survey indicated weaker purchase intent across the handbag category. The firm now sees increased risk to the company's revenue and margin performance in North America and lowered its price target for shares to $98 from $114.
July 29, 2014
08:17 EDTCOH, KORSCoach Michael Kors shares overvalued, says BMO Capital
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06:54 EDTKORSMichael Kors pullback a buying opportunity into results, says Piper Jaffray
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July 28, 2014
11:22 EDTGOLGOL Linhas reports June load factor of 76%, Q2 PRASK up 27%
Reports Q2 domestic load factor reached 76%; Reports Q2 domestic supply had 6% cut; Reports Q2 domestic demand up 3.5%.
July 25, 2014
13:13 EDTMRVLEinhorn bought Lam Research shares, sold Rite Aid last quarter
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12:12 EDTMRVLEinhorn takes stake in Lam Research, Bloomberg reports
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July 24, 2014
10:51 EDTCOHStocks with call strike movement; COH GILD
Coach (COH) November 39 call option implied volatility decreased 3% to 30, Gilead (GILD) January 110 call option implied volatility decreased 5% to 30 according to IVolatility.
10:39 EDTCOHCoach view changed to Mixed from Negative at OTR Global (pre-open)
06:17 EDTKORSMichael Kors watch momentum moderating, says Citigroup
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July 21, 2014
10:02 EDTGOLOn The Fly: Analyst Upgrade Summary
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09:05 EDTKORSKors calls speculation of analyst 'heads up' false, unfounded, TheStreet says
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09:00 EDTKORSMichael Kors weakness overdone, says Morgan Stanley
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08:04 EDTKORSMichael Kors weakness a buying opportunity, says Topeka
Topeka said recent checks do not indicate substantial markdown or clearance activity in the Michael Kors brand, contrary to some reports. The firm would use recent weakness as a buying opportunity and reiterates its Buy rating and $117 price target.
07:53 EDTGOLGOL Linhas upgraded to Buy from Neutral at BofA/Merrill
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