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Stock Market & Financial Investment News

News Breaks
March 5, 2012
08:49 EDTUA, VFC, LIZ, HBI, PVH, RL, COLM, GIL, KORS, GPS, WRCIndian cotton export ban likely to decrease supply, increase prices, WSJ says
India, the world's second-largest cotton exporter after the U.S., suddenly and without explanation banned cotton exports until further notice, which will likely tighten global supply and drive higher international prices, reported The Wall Street Journal. Reference Link
News For RL;VFC;KORS;PVH;UA;GIL;HBI;WRC;COLM;LIZ;GPS From The Last 14 Days
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February 27, 2015
16:14 EDTGPSOn The Fly: Closing Wrap
Stocks on Wall Street were lower for the day, but still rose for the week and the month of February. The market moved in a narrow range for most of today's session despite a host of economic reports that were released earlier in the day. In spite of today's modest declines, the market put the finishing touches on one of its best months ever, with the Dow and S&P posting their best monthly rises since October 2011 and the Nasdaq notching its best month since 1998. ECONOMIC EVENTS: In the U.S., the Commerce Department estimated GDP grew at an annual rate of 2.2% in the last quarter of 2014, which is weaker than the 2.6% rate first estimated last month, but above the consensus forecast for the GDP growth rate to be cut to 2%. The Chicago PMI fell 13.6 points to 45.8 in February, which was much worse than the expected reading of 58.0. The University of Michigan consumer sentiment final February print came in at 95.4, which is a little better that the 93.6 preliminary February print and above the consensus forecast for a 94.0 reading. The pending home sales index bounced 1.7% to 104.2 in January, versus expectations for it to be up 2%. COMPANY NEWS: Two notable retailers moved in opposite directions following their quarterly reports, as Gap (GPS) rose and J.C. Penney fell. Gap gained $1.23, or 3.05%, to $41.60 after the company reported fourth quarter earnings that beat expectations. The owner of Old Navy, Banana Republic and its flagship nameplate also announced a $1B share repurchase program and plans to increase its dividend. J.C. Penney, meanwhile, reported earnings that missed expectations and gave a 2015 gross margin outlook that disappointed some analysts and its shares slid 62c, or 6.8%, to $8.50. MAJOR MOVERS: Among the notable gainers was Monster Beverage (MNST), which jumped $16.38, or 13.13%, to $141.12 after the energy drink maker's fourth quarter results surpassed analysts’ consensus estimates and announced plans to expand distribution with Coca-Cola (KO) bottlers into additional territories. Among the noteworthy losers was Weight Watchers (WTW), which dropped $6.23, or 35.48%, to $11.33 after reporting lower than expected quarterly revenues and issuing a worse than expected profit forecast for its new fiscal year. Also lower were shares of Southwestern Energy (SWN), which fell $1.27, or 4.82%, to $25.08 after becoming the latest oil production company to lower its 2015 capital expenditure forecast. INDEXES: The Dow fell 81.72, or 0.45%, to 18,132.70, the Nasdaq lost 24.36, or 0.49%, to 4,963.53, and the S&P 500 declined 6.24, or 0.3%, to 2,104.50.
12:54 EDTGPSOn The Fly: Midday Wrap
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10:12 EDTGPSGap rises after Q4 earnings top forecast, capital return plans announced
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08:18 EDTGPSGap sees FY15 EPS hurt 13c by port dispute, 16c by foreign exchange
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06:14 EDTGPSGap names Wendi Goldman EVP for product design, WSJ reprots
Wendi Goldman, who once worked for Banana Republic and served as co-president of the former Limited Brands (LB), has been named as executive VP for Gap (GPS) product design, The Wall Street Journal reports. Reference Link
February 26, 2015
18:43 EDTGPSOn The Fly: After Hours Movers
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16:59 EDTGPSGap sees FY15 EPS $2.75-$2.80, consensus $3.01
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16:06 EDTGPSGap announces $1B share repurchase, plans to increase dividend
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16:01 EDTGPSGap reports Q4 EPS 75c, consensus 74c
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15:30 EDTGPSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Monster Beverage (MNST), consensus 59c... Ross Stores (ROST), consensus $1.11... Gap (GPS), consensus 74c... Autodesk (ADSK), consensus 24c... Universal Health Services (UHS), consensus $1.50... Southwestern Energy (SWN), consensus 50c... Ensco (ESV), consensus $1.36... J.C. Penney (JCP), consensus 11c... Nimble Storage (NMBL), consensus (14c)... Herbalife (HLF), consensus $1.22... Allscripts Healthcare (MDRX), consensus 9c... SBA Communications (SBAC), consensus 2c... Aruba Networks (ARUN), consensus 27c... Splunk (SPLK), consensus 4c... Air Lease (AL), consensus 61c... Ingram Micro (IM), consensus 99c... Weight Watchers (WTW), consensus 7c... Northern Oil and Gas (NOG), consensus 19c... Envision Healthcare (EVHC), consensus 36c... Infoblox (BLOX), consensus 5c... Live Nation (LYV), consensus (41c)... OmniVision (OVTI), consensus 29c... Bonanza Creek Energy (BCEI), consensus 27c.
14:48 EDTGPSGap technical remarks before results
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February 25, 2015
10:10 EDTGPSBofA/Merrill retail analysts hold an analyst/industry conference call
Head of European General Retail Equity Research Steegers, along with Head of U.S. General Retail Equity Research Hutchinson, discuss the global apparel sector, focusing on international expansion, pricing and sustainability of margins and returns on an Analyst/Industry conference call to be held on February 25 at 10 am.
09:15 EDTHBIHanesbrands price target raised to $150 from $127 at Janney Capital
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February 24, 2015
16:22 EDTHBIHanesbrands to acquire Knights Apparel at enterprise value of $200M
HanesBrands announced that it has entered into a definitive purchase agreement to acquire Knights Apparel, a seller of licensed collegiate logo apparel in the mass retail channel. Hanes is purchasing Knights, which is forecast to have sales of approximately $180M for the full-year 2015, from affiliates of Merit Capital Partners. The all-cash transaction values Knights at approximately $200M on an enterprise-value basis, or approximately 8 times expected full-year 2015 EBITDA. The post-synergy multiple is expected to be approximately 4˝ times EBITDA. Hanes intends to fund the acquisition with cash on hand and short-term borrowings on its revolving credit facility. The acquisition, which is subject to antitrust review and other customary closing conditions, is expected to close early in the second-quarter 2015. Assuming an early second-quarter close, the acquisition is expected to add to the company’s previously stated presplit 2015 financial guidance by approximately $160M in net sales, approximately $18M in adjusted operating profit excluding actions, and approximately 10c to presplit adjusted earnings per share excluding actions. Within two to three years when full synergies and benefits are realized, the purchase of Knights is expected to contribute approximately 30c of presplit annual adjusted EPS.
09:35 EDTUAActive equity options trading on open
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February 23, 2015
07:54 EDTUAUnder Armour Bull Case target raised to $121 at Morgan Stanley
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February 20, 2015
10:16 EDTGPSGap weekly volatility increases into Q4 and spring outlook
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07:14 EDTUAOppenheimer to hold a tour
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February 19, 2015
11:36 EDTVFCVF Corp. reaches settlement with RevoLaze in patent infringement case
RevoLaze, LLC, a laser technology firm headquartered in Westlake, OH, announced that it has reached a settlement and license agreement with VF Corporation regarding the patent infringement lawsuits filed with the International Trade Commission August 18, 2014 and Cleveland U.S. District Court on August 15, 2014 naming 17 denim jeans companies. The financial terms of the agreement are confidential.
February 18, 2015
10:42 EDTRL, VFC, PVHApparel makers beyond Perry Ellis seen hurt by port slowdown
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