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Stock Market & Financial Investment News

News Breaks
March 19, 2013
14:30 EDTSHOO, GCO, BWS, DSWFootwear retailers fall after DSW says recent sales trends weak
Several footwear retailers are retreating after a company in the sector, DSW (DSW), reported weaker than expected fourth quarter results. DSW added that its comparative sales have fallen 5% during the first six weeks of the current quarter as sales trends have weakened. Others in the sector, including Steve Madden (SHOO), Genesco (GCO) and Brown Shoe Company (BWS), are falling significantly in the wake of DSW's results. However, in a note to investors earlier today, research firm Canccord recommended that investors use Steve Madden's weakness as a buying opportunity. The firm believes that Steven Madden is taking market share and that its business is tracking to plan. In mid-afternoon trading, Steve Madden fell 3.6% to $43, Genesco gave back 2% to $60.10, Brown Shoe Company lost 1.4% to $16.90 and DSW tumbled 6.7% to $62.50.
News For SHOO;GCO;BWS;DSW From The Last 14 Days
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August 28, 2014
07:43 EDTGCOGenesco CEO Dennis says 'Q3 off to solid start'
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07:41 EDTGCOGenesco cuts FY15 EPS to $5.10-$5.20 from $5.40-$5.55, consensus $5.47
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07:36 EDTGCOGenesco reports Q2 adjusted EPS 34c, consensus 55c
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August 27, 2014
15:27 EDTGCONotable companies reporting before tomorrow's open
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10:36 EDTDSWOptions with decreasing implied volatility
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07:07 EDTBWSBrown Shoe raises FY14 EPS view to $1.50-$1.60 from $1.47-$1.57
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07:05 EDTBWSBrown Shoe reports Q2 EPS 41c, consensus 35c
Reports Q2 revenue $635.9M, consensus $637.68M. Reports Famous Footwear SSS up 1.6%.
August 26, 2014
15:36 EDTBWSNotable companies reporting before tomorrow's open
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15:20 EDTDSWDSW likely to miss revised FY14 guidance, says Sterne Agee
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12:24 EDTDSWOn The Fly: Midday Wrap
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11:23 EDTDSWTRW September volatility elevated
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10:03 EDTDSWDSW shares climb higher as Q2 results beat expectations
Shares of footwear and accessory retailer DSW (DSW) are climbing higher after the company reported second quarter earnings per share and revenue that exceeded analysts' consensus. WHAT'S NEW: DSW's reported Q2 adjusted EPS of 37c on revenue of $587.1M, beating analysts' consensus estimates of 32c and $564.84M, respectively. Comparable sales for the quarter increased by 0.8%. Looking ahead, DSW said that it anticipates fiscal year 2014 adjusted EPS in the range of $1.50-$1.65, which compares with analysts' expectations of $1.53. The company noted that its FY14 view assumes flattish comps and total revenue growth in the mid-single digit range. The company said that it met its target of eliminating inventory balances during the quarter and noted that all major categories recorded improved sales performance during Q2. WHAT'S NOTABLE: During the company's conference call, DSW said that it plans to open 34 new stores in FY14. It is projecting that managing inventories will be conservative heading into the fall season. The company foresees its FY14 merchandise margin to be between 100 basis points and 150 basis points lower compared to last year and anticipates markdowns to normalize for the rest of FY14. DSW sees SG&A expense increasing in the mid-teens range as the company enters the fall and still believes that the cost of its omni-channel initiative will be accretive to EPS after FY14. PRICE ACTION: During morning trading, shares of DSW rose $2.46 or 8.67%, to $30.82. Since its last earnings report, DSW is down over 6.6%.
09:35 EDTDSWActive equity options trading on open
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08:56 EDTDSWOn The Fly: Pre-market Movers
HIGHER: Tim Hortons (THI), up 10.5% after announcing merger agreement with Burger King (BKW), which is up 4% after the news. Burger King CEO Schwartz will become group CEO of the new company and Berkshire Hathaway (BRK.A) has committed $3B of preferred equity financing for the deal... DSW (DSW), up 12% after reporting Q2 earnings beat, FY14 outlook above consensus... Kite Pharma (KITE), up 17% after announcing phase 1-2a results from trial of potential treatment of non-Hodgkin's lymphoma... Mobileye (MBLY), up 4.4% after coverage of stock initiated at several research firms, including Morgan Stanley which started with an Overweight rating and $46 price target and named it a new top pick... Kandi Technologies (KNDI), up 9% following Bloomberg report on Chinese government considering funding for electric car chargers. LOWER: Best Buy (BBY), down 3.7% after reporting Q2 revenue below consensus, Q2 same-store sales decline of 2.7%... Sanderson Farms (SAFM), down 5.9% after Q3 earnings, revenue miss estimates... Movado (MOV), down 5.1% after Q2 revenue miss expectations... DOWN AFTER EARNINGS: Prospect Capital (PSEC), down 3.5%... Trina Solar (TSL), down 7.6%.
08:49 EDTDSWDSW plans to open 34 new stores in FY14
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07:07 EDTDSWDSW says achieved goal of eliminating inventory imbalances in Q2
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07:03 EDTDSWDSW sees FY14 adjusted EPS $1.50-$1.65, consensus $1.53
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07:01 EDTDSWDSW reports Q2 adjusted EPS 37c, consensus 32c
Reports Q2 revenue $587.1M, consensus $564.84M. For the thirteen week period ended August 2, comparable sales increased by 0.8%.
August 25, 2014
15:18 EDTDSWNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Best Buy (BBY), consensus 31c; Golar LNG (GLNG), consensus (7c); DSW (DSW), consensus 32c; Tech Data (TECD), consensus 77c; Sanderson Farms (SAFM), consensus $3.82; Movado (MOV), consensus 54c; Trina Solar (TSL), consensus 14c.
August 20, 2014
10:02 EDTGCOGenesco upgraded to Outperform from Market Perform at Avondale
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