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Stock Market & Financial Investment News

News Breaks
June 5, 2014
11:37 EDTRL, OXM, PVH, PERYPVH Corp. sinks after lowering profit outlook for FY14
Shares of apparel company PVH Corp. (PVH) are falling after the company reported worse than expected first quarter results and lowered its fiscal 2014 profit outlook. WHAT'S NEW: Last night, PVH Corp. reported Q1 earnings per share of $1.47 and revenue of $1.96B, missing estimates of $1.49 and $1.98B, respectively. WHAT'S NOTABLE: The company lowered its fiscal year 2014 EPS view to $7.30-$7.40 from $7.40 - $7.50, which is below analystsí consensus estimates of $7.51. PVH also guided FY14 revenue of $8.5B, in line with estimates of $8.5B. The company said it expects adjusted EPS for the second half of the year to increase 20%, with the majority of the growth coming in the fourth quarter. For the second quarter, the company forecast EPS of $1.40-$1.45, compared to analystsí consensus estimates of $1.48, and revenue of revenue $2B, in line with estimates. PVH Chairman and CEO Emanuel Chirico noted, "We believe our North American businesses will experience margin pressure in Q2" and said full year EPS guidance was lowered to reflect this. He added, "We will continue to make the previously planned strategic investments, particularly in the acquired Calvin Klein businesses, in order to unlock the full global potential of the Calvin Klein businesses over the long-term." PRICE ACTION: In late morning trading, PVH Corp. fell $9.12, or about 7%, to $121.59 on nearly three times its average daily trading volume. Despite today's pull back, the stock is up approximately 9% over the past 12 months. OTHERS TO WATCH: Shares of PVH peer Ralph Lauren (RL) are down nearly 1% to $153.88, while another apparel maker, Pery Ellis (PERY) is up almost 1% to $17.68.
News For PVH;RL;PERY;OXM From The Last 14 Days
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March 26, 2015
19:16 EDTOXMOn The Fly: After Hours Movers
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16:18 EDTOXMOxford Industries to pursue sale of Ben Sherman business
Thomas C. Chubb III, CEO said, "Ben Sherman made great progress in 2014 and left the year with positive momentum, which we believe now positions it as an attractive acquisition target. With the aim of achieving long-term value for our shareholders, we have concluded that the sale of Ben Sherman is the right course of action. We have initiated a sale process and expect a timely conclusion."
16:12 EDTOXMOxford Industries raises quarterly dividend 19% to 25c per share
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16:10 EDTOXMOxford Industries sees FY15 EPS $3.45-$3.60, consensus $3.29
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16:02 EDTOXMOxford Industries reports Q4 EPS $1.08, consensus $1.03
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15:20 EDTOXMNotable companies reporting after market close
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March 25, 2015
16:28 EDTPVHPVH Corp. sees Q1 EPS $1.35-$1.40, consensus $1.52
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16:08 EDTPVHPVH Corp. sees FY15 EPS $6.75-$6.90, consensus $7.37
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16:05 EDTPVHPVH Corp. reports Q4 EPS $1.76, consensus $1.73
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15:34 EDTPVHNotable companies reporting after market close
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07:37 EDTPVHPVH Corp. April volatility elevated into Q4 and outlook
PVH Corp. April call option implied volatility is at 39, May is at 32, June is at 31, September is at 29; compared to its 26-week average of 29 according to Track Data, suggesting large April price movement into the expected release of Q4 results on March 26.
March 24, 2015
07:27 EDTPERYTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
March 23, 2015
16:03 EDTPVHG-III Apparel, Genesco enter footwear license pact for G.H. Bass
G-III Apparel Group (GIII) and Genesco(GCO) announced that they have entered into a wholesale license agreement for Genesco to design, distribute, and market G.H. Bass menís and womenís footwear in the United States and Canada. The line will be shown to the trade this summer. First shipments are expected for the Spring 2016 season, with distribution through better department and specialty stores. This agreement marks the fourth licensing agreement G-III has signed since purchasing the G.H. Bass brand in 2013. The Company also currently has agreements with PVH Corp. (PVH) for wholesale distribution of menís sportswear and with Overland Shoes Limited for wholesale distribution of menís, womenís and childrenís footwear throughout Europe, as well as for operation of retail stores throughout Europe. The company intends to continue to revitalize and build the G.H. Bass heritage brand through improved assortments in its chain of 156 outlet stores and additional category licenses with strong partners. G-III also intends to use its in-house expertise to produce certain key categories for Bass, including its planned launch of Bass womenís apparel for delivery in Fall 2015.
07:35 EDTPVHPVH Corp. price target lowered to $130 from $155 at UBS
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06:47 EDTPVHPVH Corp. price target lowered to $125 from $150 at Wunderlich
Wunderlich lowered its price target for PVH Corp. shares to $125 ahead of the company's Q4 results on Wednesday. The firm cut its estimates below consensus to reflect currency worries, saying the stronger U.S. dollar will have a "material" impact in the near term. It keeps a Buy rating on the name.
March 22, 2015
17:01 EDTPVHWestern Digital, PACCAR, two others look discounted, Barron's says
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March 20, 2015
09:02 EDTPERYPerry Ellis sells C&C California intellectual property to ACI Licensing
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March 16, 2015
08:39 EDTPVH, RLPVH Corp. price target lowered to $130 from $144 at Piper Jaffray
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