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Stock Market & Financial Investment News

News Breaks
June 5, 2014
11:37 EDTPVH, RL, PERY, OXMPVH 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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October 24, 2014
10:15 EDTPVHHigh option volume stocks
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October 15, 2014
06:12 EDTRLNike's Converse sues rivals over 'copycat' design, NY Post reports
Converse, a unit of Nike (NKE), is suing rivals including Ralph Lauren (RL) and Tory Burch, alleging that shoemakers and retailers are copying its iconic design, the New York Post reports. Lawyers for Converse say "We welcome fair competition, but we do not believe companies have a right to copy the trademarked look." The lawsuit seeks unspecified damages and injunctions that would bar the production of the rival shoe models. Reference Link
October 14, 2014
09:10 EDTPERYPerry Ellis enters into license agreement with Kiona
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