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Stock Market & Financial Investment News

News For RIMM;BLOX;KR;GES;DIS;ARO;TIF;LQDT;GPS;TGT;M;TKR From The Last 14 Days
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August 27, 2015
16:06 EDTAROAeropostale sees Q3 EPS (30c)-(38c), consensus (31c)
Aeropostale CEO Geiger said, "We are encouraged by our progress during the initial part of the Back-To-School season, especially the significant improvement in our girls business. Our third quarter outlook reflects a continuation of the momentum we have generated in the quarter-to-date period. This guidance indicates a significant reduction in operating loss versus last year."
16:05 EDTAROAeropostale reports Q2 adjusted EPS (56c), consensus (55c)
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14:58 EDTARONotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Autodesk (ADSK), consensus 17c... ULTA Beauty (ULTA), consensus $1.12... Splunk (SPLK), consensus 2c... GameStop (GME), consensus 25c... Veeva (VEEV), consensus 11c... OmniVision (OVTI), consensus 39c... Aeropostale (ARO), consensus (55c).
12:41 EDTTIFOn The Fly: Top stock stories at midday
Stocks began the session sharply higher, extending the rally that started yesterday. A number of factors may be contributors to today's strength, including China's government intervening in its market last night and pushing its key stock index up 5%, dovish comments made by N.Y. Fed President Bill Dudley yesterday regarding the potential for a September interest rate hike and an upward revision in the estimate of second quarter GDP growth. ECONOMIC EVENTS: In the U.S., the updated estimate of GDP growth showed the economy grew 3.7% in the second quarter, topping expectations for annualized growth to be revised up to 3.2% from the prior estimate of 2.3%. Personal consumption in the quarter rose 3.1%, matching expectations. 271,000 initial jobless claims were filed last week, versus expectations for 274,000 first-time claims. The NAR pending home sales index rose 0.5% in July, missing the expectation for an increase of 1%. In China, the Shanghai composite index rose 5.3%, stemming its recent string of down days, with media reports indicating that the government may have played a role by stepping in to buy stocks. COMPANY NEWS: Shares of St. Jude Medical (STJ) advanced 4.5% after the Financial Times reported, citing sources, that Abbott (ABT) is prepping a takeover offer that would value the medical device maker at $25B. An Abbott spokesperson, however, issued statements to Bloomberg, CNBC and the Wall Street Journal following the report to deny that it is pursuing a bid for St. Jude, which struck a deal in July to acquire fellow medical device manufacturer Thoratec (THOR) for $63.50 per share in cash, or $3.4B, net of cash acquired. Thoratec shares slid 0.5% near noon following the report, as investors may be concerned that the previously announced deal could be jeopardized if Abbott does in fact step in to the situation... Shares of Freeport-McMoRan (FCX) surged 28% this morning after the miner and oil explorer announced plans to cut spending and production, including plans to cut about 10% of employees and contractors at its U.S. mining operations. Freeport has lowered its 2016 capital expenditure budget to $4B, or approximately 29% lower than the $5.6B estimate it issued on July 23, which it said reflects "aggressive" actions in response to current market conditions. MAJOR MOVERS: Among the notable gainers was Movado (MOV), which gained 20% after the company reported better than expected second quarter results and backed its fiscal year earnings view. Also higher following its earnings report was Signet Jewelers (SIG), whose shares rose 13%. Another jeweler reporting earnings this morning, Tiffany (TIF), which slid 3% after the company lowered its fiscal year outlook. Among the other noteworthy losers following their earnings reports were Williams-Sonoma (WSM), which dropped 7%, and Dollar General (DG), which slipped 4%. INDEXES: Near midday, the Dow was up 311.33, or 1.91%, to 16,596.84, the Nasdaq was up 109.30, or 2.33%, to 4,806.83, and the S&P 500 was up 42.77, or 2.2%, to 1,983.28.
11:42 EDTGESPVH Corp. rises after Q2 results top estimates, FY15 outlook raised
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10:19 EDTTIFTiffany price target lowered to $79 from $97 at Cantor
Cantor Fitzgerald analyst Laura Champine lowered her price target on Tiffany to $79 from $97 in a post-earnings note to investors after the company cut its FY15 EPS view by about 20c to $3.99-$4.12 per share The analyst, who notes that the Americas region remains the "weakest link" for the jeweler, keeps her Hold rating on Tiffany shares.
09:26 EDTTIFOn The Fly: Pre-market Movers
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09:07 EDTGESGuess turnaround obscured by foreign exchange impact, says Wunderlich
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08:55 EDTTIFTiffany sees no net earnings growth in Q3 vs. last year's Q3
Says saw weakness in entry level silver, fine jewelry in the U.S. in Q2. Says stores in Hong Kong and Macau continue to experience weakness that began in the second half of last year, says believes Chinese tourists have shifted their traveling and shopping to other markets. Says long-term strategy in China remains the same. Says "difficult to predict" any potential negative impact on sales in Chinese market from recent stock market correction or currency devaluation. Says weaker yen may be boosting domestic spending in Japan. Says plans to increase company operated stores by a net of approximately 12 stores this year. Sees "modest" increase in FY gross margin. Says plans price increases in regions most impacted by forex. Sees "long lead time" before seeing benefit from lower diamond prices. Sees FY effective tax rate similar to last year's 34%. Seeks to keep inventory growth below rate of sales growth. Sees no net earnings growth in Q3 vs. last year's Q3, sees resumption of earnings growth in Q4. Comments made on the Q2 earnings conference call.
07:03 EDTTIFTiffany now sees FY15 EPS 2%-5% below $4.20 last year
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07:02 EDTTIFTiffany CEO: Adverse effects from strong dollar 'more significant' than expected
Frederic Cumenal, CEO, said, "We entered this year expecting translation and tourism-related pressures on sales and earnings from the exceptionally strong U.S. dollar, as well as challenging economic conditions in certain markets. While the adverse effects from the strong dollar have been even more significant than initially expected, we met our overall expectations in the first half of the year. We are pleased with responses to new designs, including our Tiffany T jewelry and CT60 watch collections, and are excited about upcoming additions being made to bolster sales across jewelry categories and price points. Tiffany also expanded its global presence during the quarter by opening six stores across the Americas, Asia-Pacific and Europe."
07:01 EDTTIFTiffany reports Q2 adjusted EPS 86c, consensus 91c
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06:40 EDTDISNielsen to start tracking for online streaming shows, WSJ reports
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06:23 EDTDISWal-Mart extends holiday layaway program two weeks, Reuters reports
Wal-Mart (WMT) plans to boost its holiday layaway program by two weeks ahead of an expected year-end demand for Star Wars toys, a Disney (DIS) property, Reuters reports. The retailer will jumpstart the program on August 28, two weeks earlier than last year, the report says, citing comments from Anne Marie Kehoe, VP of toys at Wal-Mart. Reference Link
August 26, 2015
20:03 EDTGPSGap to stop on-call shifts by late September
In a company blog post published Wednesday, Gap announced a commitment to eliminate the use of on-call shifts across the organization. The work began earlier in the summer, said the company, and all five brands have aligned on a complete phase-out of this practice by the end of September. Additionally, each of Gap's brands has committed to improving scheduling policies to provide store employees with at least 10-14 days notice. The majority of brands will be rolling out these new policies in September, and all Gap brands are committed to phasing in advanced schedules by early 2016. Reference Link
20:03 EDTGESOn The Fly: After Hours Movers
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16:13 EDTGESGuess drops $1.42 to $19.90 after Q2 earnings report
16:10 EDTGESGuess narrows FY16 EPS view to 89c-$1.02
FY16 revenues are now expected to decline between 1.5%-0.5% in constant currency. Currency headwinds are expected to negatively impact consolidated revenue growth by approximately 7.5%, for a net decline between 9.0%-8.0%. Previously, the company guided to FY16 EPS of 86c-$1.02 and a net revenue decline between 8.5%-6.5%. FY16 consensus for EPS 95c and for revenue is $2.23B.
16:07 EDTGESGuess sees Q3 EPS 8c-12c, consensus 18c
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16:06 EDTGESGuess reports Q2 EPS 21c, consensus 15c
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