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Stock Market & Financial Investment News

News Breaks
May 9, 2014
12:59 EDTRL, KORS, COHRalph Lauren falls after same-store sales drop, guidance disappoints
Shares of luxury product and apparel maker Ralph Lauren (RL) are falling after the company reported that its fourth quarter comparable store sales fell 2%. The luxury goods maker also issued fiscal year 2015 earnings per share guidance that was below the consensus view at the midpoint. WHAT'S NEW: Ralph Lauren reported fourth quarter earnings per share of $1.68, which exceeded analysts expectation of $1.63. The luxury company reported fourth quarter revenues of $1.87B which also surpassed analysts expectations. Ralph Lauren experienced a decline of 2% in its consolidated comparable store sales and noted that it's reported basis comparable store sales were down 1% in constant currency during the quarter. The company attributed the decline to the cold weather and late start to spring in North America and the shift in the timing of Easter versus the prior year. In terms of guidance, Ralph Lauren said that it sees FY14 net revenue to be up 6%-8%. In the first quarter of fiscal FY15, the company said that it expects consolidated net revenues to increase by 3%-5%, led by retail segment growth. Executive vice chairman, Roger Farah, announced his retirement from Ralph Lauren at the end of May but noted that he will remain on the board of directors until the expiration of his term on the date of the company's annual stockholders meeting in August. WHAT'S NOTABLE: During the company's earnings conference call, management said that opportunities for growth are "tremendous" and its strategies are "clear." The company noted that it has planned an increase in advertising and marketing and announced its intention to begin a three-year project to upgrade its global e-commerce operating platform. The company said that investing in new capabilities will support accelerated revenue growth through upped productivity and improved conversion rates. ANALYST REACTION: Wells Fargo analysts Evren Kopelman and Connie Wang said that Ralph Lauren's FY15 guidance was "disappointing," but said that the firm's expectations for sales quickening over the next few years thanks to the Polo strategy is unchanged. The analysts added that if management could give clearer margin progression projections, the multiple on the shares could expand. The firm lowered its FY15 and FY16 estimates for Ralph Lauren, but still said that they foresee "significant" upside potential to the shares and feel that the current P/E multiple is very attractive for the growth that they anticipate. Wells Fargo is maintaining its Outperform rating on the stock. OTHERS TO WATCH: Competitors to Ralph Lauren include Coach (COH) and Michael Kors (KORS). PRICE ACTION: During afternoon trading, shares of Ralph Lauren fell $4.18 or 2.75%, to $147.81.
News For RL;COH;KORS From The Last 14 Days
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May 20, 2015
06:07 EDTKORSStocks with implied volatility above IV index mean; KORS BBY
Stocks with implied volatility above IV index mean; Michael Kors (KORS) 40, Best Buy (BBY) 37 according to iVolatility.
May 19, 2015
11:05 EDTCOHRumor: Coach spikes up on renewed speculation of an activist investor stake
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06:00 EDTKORSStocks with implied volatility above IV index mean; KORS ALTR
Stocks with implied volatility above IV index mean; Michael Kors (KORS) 38, Altera (ALTR) 72 according to iVolatility.
May 17, 2015
13:59 EDTRLRalph Lauren shares could return 15%-20% in 12-18 months, Barron's says
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May 15, 2015
10:20 EDTRLOptions with decreasing implied volatility
Options with decreasing implied volatility: NLNK ARWR CTRP RAX KING AOL WPZ RL Z MBI
05:52 EDTKORSStocks with implied volatility above IV index mean; KORS SPLS
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May 14, 2015
13:44 EDTKORSMichael Kors weekly volatility elevated into Q4 and outlook
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13:28 EDTKORSIncreasing equity options volume
Increasing equity options volume: FCX UPS KSS CHK CSCO AVP YOKU CALM KORS
10:00 EDTKORS, COHOn The Fly: Analyst Initiation SummaryT
Today's noteworthy initiations include: Advaxis (ADXS) initiated with a Buy at MLV & Co.... Akebia (AKBA) initiated with a Buy at Brean Capital... CarMax (KMX) initiated with a Buy at Sterne Agee CRT... Coach (COH) initiated with a Neutral at Wedbush... Euronav NV (EURN) initiated with an Outperform at Credit Suisse... Franco-Nevada (FNV) initiated with an Outperform at Macquarie... Kate Spade (KATE) initiated with an Outperform at Wedbush... Lumber Liquidators (LL) initiated with a Perform at Oppenheimer... Michael Kors (KORS) initiated with a Neutral at Wedbush... National Instruments (NATI) initiated with an Overweight at Stephens... Royal Gold (RGLD) initiated with an Outperform at Macquarie... Spectra Energy Partners (SEP) initiated with a Buy at Janney ... Spectra Energy (SE) initiated with a Buy at Janney Capital... Tribune Publishing (TPUB) initiated with a Buy at Sterne Agee CRT.
07:41 EDTRLUSPA gets favorable ruling in trademark fight with Ralph Lauren, Reuters says
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06:33 EDTCOHCoach initiated with a Neutral at Wedbush
Target $37.
06:33 EDTKORSMichael Kors initiated with a Neutral at Wedbush
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May 13, 2015
09:21 EDTRLOn The Fly: Pre-market Movers
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08:07 EDTRLRalph Lauren sees forex, global consumer spending remaining 'unpredictable'
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08:07 EDTRLRalph Lauren seesn Q1 consolidated net revenues flat in constant currency
In the first quarter of Fiscal 2016, the Company expects consolidated net revenues to be flat in constant currency, as retail segment growth is offset by a decline in wholesale revenue which is impacted by our customers’ receipt plans due to an earlier Easter this year. Based on current exchange rates, foreign currency will have an approximate 600 basis point negative impact on revenue growth in the first quarter of Fiscal 2016. Operating margin for the first quarter of Fiscal 2016 is expected to be approximately 600-650 basis points below the comparable prior year period, primarily due to negative foreign currency effects, the quarterly revenue growth profile and timing of expense savings initiatives. The first quarter tax rate is estimated at 30%.
08:06 EDTRLRalph Lauren sees FY15 consolidated net revenue up mid single digits
The company currently expects consolidated net revenues for Fiscal 2016 to increase by mid-single digits in constant currency. The company says, "Based on current exchange rates, foreign currency will have an approximate 450 basis point negative impact on Fiscal 2016 revenue growth. Operating margin for Fiscal 2016 is currently expected to be 180-230 basis points below the prior year’s level due to negative foreign currency effects. The full year Fiscal 2016 tax rate is estimated at 30%. Capital expenditures are planned at approximately $400-$500 million in Fiscal 2016. This guidance excludes restructuring and other one-time related charges associated with our global brand reorganization. We expect these charges to be approximately $70-100 million over the course of Fiscal 2016."
08:06 EDTRLRalph Lauren board authorizes additional $500M stock repurchase program
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08:05 EDTRLRalph Lauren reports Q4 EPS $1.69 ex-foreign currency impacts, consensus $1.32
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May 12, 2015
15:00 EDTRLNotable companies reporting before tomorrow's open
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14:11 EDTRLRalph Lauren technical comments before earnings
The shares have been in decline for the prior year, but ahead of earnings have entered a consolidation phase. That range is largely contained within the bounds of $130 to $140. Those two extremes of the range can help us understand where price may go following earnings. A breakout above $140 on better than expected news would turn the dominant downtrend to neutral. A rise above $149.16 would set the trend to bullish in the short-term, with next resistance at $153.27. That level is the bottom of the bearish gap down from February. A move further up into the gap would be bullish. If the news is bearish and the low of the range at $130 is taken out on the downside, it would signal a resumption of the downtrend. In that event next support would be at $127.29, which is the 52-week low. A breakdown below the 52-week low could see the following support levels become potential downside objectives depending on the degree of negative surprise: $122.98, $117.29, and $111.65.
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