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Stock Market & Financial Investment News

News Breaks
April 21, 2014
05:57 EDTRSH, ANFStocks with implied volatility movement; RSH ANF
Stocks with implied volatility movement; RadioShack (RSH) 170, Abercrombie & Fitch (ANF) 41 according to iVolatility.
News For RSH;ANF From The Last 14 Days
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August 28, 2014
09:10 EDTANFAbercrombie & Fitch sees margins in 2H14 to improve vs. 1H14
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08:55 EDTANFOn The Fly: Pre-market Movers
HIGHER: Digital Ally (DGLY), up 16% after announcing order from Michigan State Police for over $1.1M... EnteroMedics (ETRM), up 12.4% after reporting three-year data from Maestro RC system... Repros (RPRX), up 0.8% after Androxal achieves superiority in both co-primary endpoints in a study... Synthetic Biologics (SYN), up 2.7% after Pfizer (PFE) was granted FDA Fast Track designation for its investigational Clostridium difficile vaccine candidate. Synthetic Biologics announced earlier this week that SYN-004, the company's lead anti-infective product candidate for the prevention of the effects of C. difficile, will be presented in October... Signet (SIG), up 3.9% after Q2 revenue tops consensus. DOWN AFTER EARNINGS: Abercrombie & Fitch (ANF), down 5.7%... Guess (GES), down 8.3%... Frontline (FRO), down 7%. ALSO LOWER: Williams-Sonoma (WSM), down 10.9% after downgraded at Morgan Stanley following the company's Q2 earnings report... GT Advanced (GTAT), down 2% after downgraded at Raymond James... Sungy Mobile (GOMO), down 20.1% following earnings report, CFO resignation, downgrade of stock at Oppenheimer... Genesco (GCO), down 7.7% after cutting fiscal year forecast.
08:52 EDTANFAbercrombie continues to expect 'another strong year' of growth in FY14
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08:42 EDTANFAbercrombie says continuing to operate in 'challenging' U.S. enviornment
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08:14 EDTANFAbercrombie & Fitch sees FY14 tax rate in mid-30s
Sees weighted average share count of approximately 73.6M shares in FY14. Comments taken from slides found in company's Q2 earnings conference call presentation
07:43 EDTANFAbercrombie & Fitch CEO says Q2 sales were 'somewhat below plan'
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07:38 EDTANFAbercrombie & Fitch backs FY14 EPS view of $2.15-$2.35, consensus $2.36
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07:35 EDTANFAbercrombie & Fitch reports Q2 EPS ex-items 19c, consensus 11c
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August 27, 2014
16:00 EDTRSHOptions Update; August 27, 2014
iPath S&P 500 VIX Short-Term Futures up 26c to 27.89 Option volume leaders: AAPLTWTR TSLA PBR RSH GILD MCD AMZN WFM according to Track Data.
15:27 EDTANFNotable companies reporting before tomorrow's open
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15:19 EDTANFAbercrombie & Fitch technical commentary ahead of earnings
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13:22 EDTANFAbercrombie & Fitch August weekly 45 straddle priced for 7.1% move into Q2
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12:51 EDTANFEarnings Preview: Abercrombie guides FY15 EPS $2.15-$2.35
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09:22 EDTRSHOn The Fly: Pre-market Movers
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August 26, 2014
12:22 EDTRSHStandard General to explore rescue funds for RadioShack, Bloomberg reports
According to two people familiar with the situation, Standard General, one of RadioShack’s biggest shareholders, is negotiating a potential rescue package with investors which would allow the retailer to fend off a bankruptcy filing, Bloomberg reports. Reference Link
12:02 EDTRSHStandard General to explore rescue funds for RadioShack, Bloomberg says
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11:09 EDTRSHBest Buy shares decline as Best Buy reports Q2 sales drop
Shares of multi-channel Best Buy (BBY) are retreating after the firm reported that sales declines continued through the second quarter. WHAT'S NEW: Best Buy's Q2 earnings per share from continuing operations was 44c, exceeding analysts' consensus estimates of 31c. The company's Q2 revenue was $8.9B, which was slightly lower than analysts' $8.99B consensus. Same-store-sales for the quarter declined 2.7%, which is better than the overall industry sales decline of 2.5% as reported by NPD. Best Buy Chief Executive Officer Hubert Joly noted that traffic to the company's brick and mortar stores continued to decline as consumers research and buy online. Joly noted that in-store conversion and online traffic continued to increase during the quarter. Joly said that in the back half of the year, the retailer plans to intensify its investments in customer-facing initiatives. Chief Financial Officer and Chief Administrative Officer Sharon McCollam reiterated that industry-wide sales are continuing to decline in many of the consumer electronics cateogries in which it competes, and said the retailer is seeing "ongoing softness" in the mobile phone category ahead of new product launches. She forecast SSS down in the low single digits for both the third and fourth quarters and sees Q3 and Q4 operating income in line with the first half of the year. For the back half of the year, McCollam sees continued industry softness and higher promotionality in Canada and China. WHAT'S NOTABLE: During the company's conference call, Best Buy said that it is "encouraged" by the response to 4K televisions and aims to expand its holiday gift centers within stores. The company's CFO McCollam said that the firm's mobile phone category is "complicated to forecast." She feels that the disruption of carriers "could have impact" that the technology retailer did not anticipate. McCollam said that despite great excitement for some high-profile phone launches, there is still a great deal of competition in the lower-end of the phone market. In terms of the start of the upcoming quarter, Best Buy feels that the beginning has been "in-line" with expectations. ANALYST OPINION: ISI analyst Greg Melich feels that Best Buy's Q2 EPS beat was due to a slightly less dramatic decrease in gross margins and improved cost controls. He feels that the market is likely to pay close attention to continued sales decreases when predicting the rest of the year despite the better than anticipated quarterly EPS results. Melich said that he will keep an eye out for positive signs that Q4 will experience an improvement given the highly promotional and competitive landscape last year. The analyst keeps the stock with a neutral rating and a $31.99 price target. PRICE ACTION: In morning trading, Best Buy fell $1.59, or 4.97%, to $30.40. OTHERS TO WATCH: Best Buy peers include RadioShack (RSH) and hhgregg (HGG).
August 25, 2014
13:44 EDTANFAbercrombie & Fitch weekly volatility elevated into Q2 and outlook
Abercrombie & Fitch August weekly call option implied volatility is at 96, September is at 48, October is at 44, December is at 38; compared to its 26-week average of 45 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on August 26.
August 22, 2014
12:08 EDTANFGap hits 52-week high following beat and raise quarter
Shares of specialty apparel retailer The Gap (GPS) are advancing after the company posted better than expected second quarter results, and raised its fiscal 2014 profit outlook. WHAT'S NEW: Last night, Gap reported Q2 earnings per share of 75c and revenue of $3.98B, topping analysts’ consensus estimates of 69c and $3.96B, respectively. Q2 same store sales were flat versus the prior year period. WHAT’S NOTABLE: For FY14, Gap raised its EPS view to $2.95-$3.00 from $2.90-$2.95, versus consensus of $2.95. The company updated its guidance for FY14 diluted EPS to reflect the 5c related to the gain on asset sale. For FY14, the company continues to expect capital spending to be approximately $750M in support of its outlined strategies. Gap also announced it will enter India through franchise-operated Gap brand stores in 2015. Gap is partnering with Arvind Lifestyle Brand Limited, a subsidiary of Arvind Limited, which is one of India’s largest textile companies. The first stores are expected to open in India’s two largest cities – Mumbai and Delhi – starting with Gap’s Summer 2015 collection for adults, kids and babies. The brand plans to open about 40 franchise-operated Gap stores in India. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Research firm Janney Capital upgraded Gap to Buy from Neutral. The firm upgraded shares based on the overall improving Softlines sector due to an inventory correction, Old Navy strength, global opportunities, potential improved gross margin returns on inventory investment, and best-in-class management. Their price target on the shares is $51. Another firm, UBS, said Gap is well positioned for second half upside citing its Omni-channel advantage, shift to higher margin businesses, increased square footage, and modestly positive comps driven by ecommerce. UBS has a Buy rating and a $50 price target on the stock. Sterne Agee says Gap’s valuation is very attractive. The firm believes that Gap's fundamentals are improving, while the setup for the stock over the next 12-18 months is favorable. It adds that the company's gross margins should be boosted by several factors going forward, and it kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Gap rose $2.04, or 4.7%, to $45.22 on heavy trading volume. Earlier in the session, it reached a new 52-week high of $45.47. Including today’s advance, the stock has gained over 7.5% over the past twelve months. OTHERS TO WATCH: Other specialty apparel companies include Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Guess (GES), and The Buckle (BKE).
August 19, 2014
11:53 EDTANFAeropostale soars as Geiger returns as CEO
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