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June 2, 2014
10:45 EDTOVTI, GES, ANF, KORS, DSW, EXPR, PANW, BIG, RMTIOptions with decreasing implied volatility
Options with decreasing implied volatility: RMTI EXPR ANF BIG DSW GES PANW KORS OVTI HSH
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November 20, 2015
09:10 EDTANFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), up 16.3%... Foot Locker (FL), up 4.8%. ALSO HIGHER: Horizon Pharma (HZNP), up 1.6% after withdrawing offer to acquire Depomed (DEPO)... Nike (NKE), up 4.3% after announcing a $12B repurchase program, a two-for-one stock split, and that it will raise its dividend. DOWN AFTER EARNINGS: Nimble Storage (NMBL), down 45.3%... Mentor Graphics (MENT), down 28%. ALSO LOWER: Depomed, down 5.9% after Horizon Pharma withdrew its offer to acquire the company... Builders FirstSource (BLDR), down 3.7% after 7M share Spot Secondary priced at $13.25.
08:54 EDTANFAbercrombie & Fitch to add mobile enhancements in China in 2016
Says traffic has been challenging. Says "pleased" with investments made in mobile. Says has close to 3M cumulative downloads of app. Says looking to rolling out capabilities outside the U.S., particularly in U.K. Says continued to see growth in China in Q3, particularly with Singles Day. Says will add mobile enhancements in China in 2016. Says wholesale business on target to hit $600M goal in margin contribution this year. Says continuing expansion of Kids stores in Adult space. Comments taken from Q3 earnings conference call.
08:17 EDTANFAbercrombie & Fitch sees FY15 CapEx roughly $150M
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08:16 EDTANFAbercrombie & Fitch sees Q4 gross margin rate approximately flat y/y
Sees continued adverse effects from foreign currency exchange rates. Sees operating expense to be roughly flat from last year. Guidance taken from slides to be presented on Q3 earnings conference call.
07:40 EDTANFAbercrombie & Fitch sees Q4 SSS approximately flat
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07:39 EDTANFAbercrombie & Fitch reports Q3 adj. EPS 48c, may not compare to consensus 22c
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November 19, 2015
18:57 EDTEXPRExpress downgraded to Sell from Neutral at Goldman
Goldman analyst Lindsay Drucker Mann downgraded Express to Sell from Neutral and lowered her price target on Express shares to $15 from $20 due to increasingly difficult year-ago comparisons and intensifying industry headwinds -- including declining mall traffic -- ahead of the holiday season.
15:24 EDTANFNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Foot Locker (FL), consensus 94c... Sirona Dental (SIRO), consensus $1.10... Abercrombie & Fitch (ANF), consensus 22c... Hibbett Sport (HIBB), consensus 68c.
14:51 EDTANFAbercrombie & Fitch November 19 straddle priced for 12% movement into Q3
14:26 EDTANFAbercrombie & Fitch technical comments ahead of earnings
The shares have been trading in a sideways but wide range since March of this year. Shares ahead of earnings are currently trading below an important support level, $20, which has held for most of this sideways trading period. A move back above $20 on good news would be a technical positive that could see the highs of the recent range tested. The first resistance level of significance is at the 30-day moving average at $20.93. The 30-day has nearly flattened out in recent months, bisecting the range. Next resistance above the 30-day would be at $21.68, $22.25, and $23.25. If the news is bearish, the shares could drift to the low end of the range. First support would be at $18.74. Below that support, additional downside objectives may be at $17.60 and $16.56. The 52-week low is at $15.42.
13:29 EDTANFEarnings Watch: Abercrombie reports amid ongoing turnaround, CEO search
Abercrombie & Fitch (ANF) is scheduled to report third quarter earnings before the market open on Friday, November 20 with a conference call scheduled for 8:30 am ET. Abercrombie & Fitch is a retailer of casual apparel for men, women and kids. EXPECTATIONS: Analysts are looking for earnings per share of 22c on revenue of $864.65M, according to First Call. The consensus range for EPS is 7c-44c on revenue of $832.7M-$897M. LAST QUARTER: On August 26, Abercrombie & Fitch reported second quarter adjusted EPS of 12c on revenue of $817.8M, beating consensus estimates of (4c) and $811.46M, respectively. The company added that same store sales for Q2 were down 4% year over year. Abercrombie & Fitch also said that it expected same store sales trends to improve in the second half of the year, skewed towards the fourth quarter. NEWS: The company said in its Q2 earnings release that it planned to open 15 full-price stores in fiscal 2015 in China, Japan, and the Middle East, six full price stores in North America, and ten new outlet stores in the U.S. The retailer also said that it expected to close roughly 60 stores in the U.S. during the fiscal year through natural lease expirations. On its Q2 conference call, Abercrombie & Fitch said that its board was "deeply engaged" in its search for a new chief executive officer and that someone will be appointed to the role "in due time." The company added on the call that it was still making adjustments to prices at the Abercrombie brand. STREET RESEARCH: On August 27, Stifel upgraded Abercrombie to Buy from Hold and maintained a $24 price target following the company's upbeat Q2 results. A day later, RBC Capital upgraded the company's stock to Sector Perform from Underperform and raised its price target to $20 from $17, saying that the fundamentals of the Hollister unit are improving while revenue was showing signs of rebounding. On September 24, Standpoint Research downgraded Abercrombie & Fitch to Hold from Buy. On October 19, Wunderlich upgraded the company's shares to Hold from Sell with a $21 price target, saying that there were signs of a business turnaround. On November 19, Susquehanna reiterated a Positive rating and $26 price target on the retailer's stock, saying it believes the company is well positioned for the holiday season. PRICE ACTION: Abercrombie & Fitch shares are flat at $19.75 in afternoon trading ahead of tomorrow's earnings report. The stock is up about 12.5% over the past three months.
10:00 EDTDSWOn The Fly: Analyst Initiation Summary
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08:38 EDTANFAbercrombie & Fitch well positioned for holidays, says Susquehanna
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07:15 EDTPANWPalo Alto Fortinet seen as potential Cisco takeover targets, says Oppenheimer
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November 18, 2015
19:27 EDTDSWDSW initiated with an Underperform at Wells Fargo
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November 17, 2015
14:46 EDTANFAbercrombie & Fitch volatility elevated into Q3 and outlook
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08:05 EDTPANWPalo Alto volatility elevated into Q1 and outlook
Palo Alto November call option implied volatility is at 43, November weekly is at 69, December is at 54, January is at 46; compared to its 52-week range of 27 to 66, suggesting large near term price movement into the expected release of Q1 results on November 23.
07:52 EDTKORSMorgan Stanley to hold a conference
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07:42 EDTPANWPalo Alto checks point to above-consensus Q1 results, says Stephens
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07:37 EDTPANWPalo Alto results should beat expectations, says RBC Capital
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