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Stock Market & Financial Investment News

News Breaks
December 5, 2012
10:56 EDTOXM, PVH, VFC, LULUOxford Industries tumbles after results miss expectations
Apparel maker Oxford Industries (OXM) is plunging after the company last night reported earnings per share and revenue for the third quarter of its fiscal 2012 that were below analysts' consensus estimates. Moreover, the company's fourth quarter earnings per share and revenue guidance were well below the consensus estimate. Oxford cited a disappointing performance by its Ben Sherman sportswear brand, delays of store openings in Hong Kong and Chicago, and Hurricane Sandy as factors that dragged down its guidance. In a note to investors earlier today, however, Brean Capital analyst Eric Beder recommended buying the stock on weakness. Oxford remains poised to beat expectations, as the company's Tommy Bahama and Lilly Pulitzer brands are well-positioned to generate double digit revenue growth during the company's fiscal 2014, Beder believes. Moreover, Oxford has a good opportunity to stabilize Ben Sherman during fiscal 2014 added the analyst, who reiterated his $60 price target on the stock. In mid-morning trading, Oxford dropped $6.71, or 12.71%, to $46.07. Other apparel makers also retreated significantly, with PVH Corp (PVH) losing 2.38% to $11.02, V.F. Corporation (VFC) giving back 1.56% to $153.75, and Lululemon (LULU) sliding 3.19% to $68.39.
News For OXM;PVH;VFC;LULU From The Last 14 Days
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September 5, 2014
16:45 EDTPVHMarket ends week little changed after mixed economic data
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15:21 EDTLULULululemon Athletica September volatility elevated into Q2
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10:50 EDTPVHOptions with decreasing implied volatility
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10:05 EDTPVHOn The Fly: Analyst Downgrade Summary
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09:01 EDTPVHPVH Corp. downgraded to Underperform from Neutral at BofA/Merrill
07:49 EDTLULUlululemon challenges persisted in Q2, says Canaccord
Canaccord said the product assortment at lululemon remains stale and the firm sees traffic, product flow, fashion quotient and conversion challenges persisting in Q2. The firm believes the brand remains relevant and has long-term growth opportunities but there are likely to be more fits and starts in the interim. Canaccord keeps its Hold rating and $42 price target on shares of lululemon.
06:34 EDTLULUlululemon estimates lowered ahead of Q2 report at Barclays
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September 4, 2014
16:24 EDTPVHOn The Fly: Closing Wrap
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13:18 EDTPVHPVH Corp. price target raised to $137-$141 from $127-$132 at Wells Fargo
Wells Fargo increased its price target on PVH after the company reported higher than expected Q2 EPS and cited improved sales trends in August. The firm thinks the news has improved investors' confidence about the company's ability to meet second half estimates. Wells keeps a Market Perform rating on the shares.
13:05 EDTLULULululemon Athletica September volatility elevated into Q2
Lululemon Athletica September 12 weekly call option implied volatility is at 72, September is at 56, October is at 46, January is at 37; compared to its 26-week average of 38 according to Track Data, suggesting larger September price movement into the expected release of Q2 on September 11.
09:16 EDTPVHPVH Corp. says 'cautiously optimistic' about 2H14
PVH Corp. (PVH) sees continued momentum of 5% whole sale growth for the spring season in its Tommy Hilfiger business. Says seeing early signs of positive consumer reception in European and Asian markets in its jeans business. Says Heritage business seeing pressure from promotional retail environment, but the unit remains well positioned for "strong growth" in the future. Says Izod brand is set to launch at all major Kohls (KSS) stores. Believes that this launch will drive the company's turnaround plan in 2H14. Says "well positioned" for targeted earnings growth. Says August sales trends in Calvin Klein and Tommy Hilfiger are currently ahead of sales plan. Continues to see debt pay-downs on track for $400M for the year. Comments made during the company's Q2 earnings conference call.
09:06 EDTPVHOn The Fly: Pre-market Movers
UP AFTER EARNINGS: PVH Corp. (PVH), up 9%... Verifone (PAY), up 3.8%... Methode Electronics (MEI), up 13%... Bazaarvoice (BV), up 9%. ALSO HIGHER: Bolt Technology (BOLT), up 35.7% after Teledyne (TDY) agrees to acquire the company for $22 per share in cash... Mitek Systems (MITK), up 58% after USAA lawsuit settlement... Tibco Software (TIBX), up 7% after announcing that it is reviewing strategic alternatives... Stereotaxis (STXS), up 22% after receiving FDA clearance for Vdrive with V-Loop system... NewLink (NLNK), up 3.4% after reporting FDA approval for Phase 1 clinical studies of Ebola vaccine. DOWN AFTER EARNINGS: Ciena (CIEN), down 3%... Joy Global (JOY), down 1%... Matrix Service (MTRX), down 11%... Mobileye (MBLY), down 1.3%. ALSO LOWER: Yum! Brands (YUM), down 2.8% after updating third quarter China division same-store sales guidance... 3D Systems (DDD), down 2.9% after downgraded at Pacific Crest... GoPro (GPRO), down 3.5% after downgraded at JPMorgan... Shanda Games (GAME), down 4% after announcing reconstitution of special committee.
07:47 EDTPVHPVH Corp. price target raised to $170 from $150 at UBS
UBS raised its price target on PVH to $170 from $150 following its Q2 report, citing its improving trends, and margins and increased guidance. The firm keeps its Buy rating on the shares.
September 3, 2014
18:39 EDTPVHOn The Fly: After Hours Movers
UP AFTER EARNINGS: Bazaarvoice (BV), up 8%... PVH Corp. (PVH), consensus 5.4%... Iteris (ITI), up 9.1%... H&R Block (HRB), up 1.5%. ALSO HIGHER: Bolt Technology (BOLT), up 34.8% following news that it will be acquired by Teledyne (TDY)... Tibco Software (TIBX), up 10% after announcing that it is reviewing strategic alternatives... Morgans Hotel (MHGC), up 5.1% after commenting on ongoing review of strategic alternatives. DOWN AFTER EARNINGS: Shoe Carnival (SCVL), down 7 .7%... AeroVironment (AVAV), down 5.9%. ALSO LOWER: Yum! Brands (YUM), down 3.9% after updating third quarter China division Same Store Sales guidance... Northstar Realty (NRF), down 2.3% after filing to sell 45M shares with a forward component.
16:10 EDTPVHPVH Corp. rises 5% to $122.52 after earnings beat expectations
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16:07 EDTPVHPVH Corp. sees Q3 EPS $2.45-$2.50, consensus $2.49
Sees Q3 revenue $2.25B, consensus $2.33B.
16:06 EDTPVHPVH Corp. backs FY14 EPS $7.30-$7.40, consensus $7.38
FY14 revenue is currently projected to be approximately $8.4B, consensus $8.47B.
16:05 EDTPVHPVH Corp. reports Q2 EPS $1.51, consensus $1.42
Reports Q2 revenue $1.98B, consensus $1.99B. Revenue increased 9% in the company’s Tommy Hilfiger business and 1% in the company’s Calvin Klein business. Revenue in the company’s Heritage Brands business was flat to the prior year excluding the $62M of 2013 Bass revenue and decreased 13% including such revenue.
15:29 EDTPVHNotable companies reporting after market close
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14:33 EDTPVHPVH Corp. technical commentary before earnings
In the prior three months the shares have underperformed the indexes, declining by over 10.5%. The trading range has largely been contained with $120 at the high and $110 at the low. Those two bounds can give us some clues as to how price may behave following earnings. If the news is more positive than expected, a test at $120 would be highly probable given the current price of shares at $116.82. Resistance above $120 would be at $123.39, the bottom of the bearish gap from early June, and then at $127.88, which was the top of that gap. If the news is worse than expected, a test down to $110 would be possible. Next support thereafter would be at the 52-week low at $107.05. If the news is bearish enough, a push below that 52-week low would be possible with next support at $103.30, a pivot low from April 2013. Short interest in the stock is low, which could exacerbate the price reaction to negative news.
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