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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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April 20, 2015
09:13 EDTOXMOxford Industries price target raised to $87 from $82 at KeyBanc
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April 14, 2015
15:13 EDTOXMOxford Industries management to meet with SunTrust
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April 7, 2015
10:05 EDTRLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Carnival (CCL) upgraded to Outperform from Market Perform at Wells Fargo... Crown Castle (CCI) upgraded to Buy from Hold at Evercore ISI... Ctrip.com (CTRP) upgraded to Overweight from Neutral at Piper Jaffray... Demandware (DWRE) upgraded to Conviction Buy from Buy at Goldman... FirstEnergy (FE) upgraded at BofA/Merrill... Frontier Communications (FTR) upgraded to Neutral from Underperform at DA Davidson... JPMorgan (JPM) upgraded to Outperform from Market Perform at Bernstein... Pattern Energy (PEGI) upgraded to Outperform from Market Perform at Raymond James... Ralph Lauren (RL) upgraded to Buy from Outperform at CLSA... ResMed (RMD) upgraded to Outperform from Neutral at Credit Suisse... Ryanair (RYAAY) upgraded to Overweight from Neutral at JPMorgan... Splunk (SPLK) upgraded to Overweight from Neutral at Piper Jaffray... Total (TOT) upgraded at RBC Capital... Verifone (PAY) upgraded to Buy from Hold at Stifel... XL Group (XL) upgraded to Buy from Neutral at UBS.
08:22 EDTRLRalph Lauren upgraded to Buy from Outperform at CLSA
As previously reported, CLSA upgraded Ralph Lauren to Buy from Outperform. The firm upgraded shares citing brand strength, global brand realignment, new operating systems, accelerating store conversions and select new openings, and redcu3ed operating costs. Price target raised to $170 from $159.
07:29 EDTRL, RLRalph Lauren upgraded to Buy from Outperform at CLSA
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