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Stock Market & Financial Investment News

News Breaks
November 27, 2012
11:30 EDTAPO, SIG, NILE, ZLCJewelers higher following report of PE interest in U.K. chains
Shares of several publicly listed jewelers are moving higher after The Telegraph reported late Sunday that private equity firm Apollo Global Management (APO) is in talks to buy Aurum, which own two U.K. jewelry chains, for about GBP180M. That valuation roughly equates to six times the forecast for the company's earnings before interest, tax, depreciation and amortization, or EBITDA, according to the report, which added that a deal may be completed as soon as this week. Shares of some U.S.-listed jewelers are moving higher today in mid-morning trading, including Signet Jewelers (SIG), up 3.87% to $54.18, Zale (ZLC), up 3.31% to $4.94 and Blue Nile (NILE) up 4.76% to $39.28.
News For SIG;ZLC;NILE;APO From The Last 14 Days
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January 26, 2015
06:58 EDTAPOCerberus may acquire newspaper group Digital First for $600M, Bloomberg says
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January 25, 2015
15:40 EDTAPOCaesar's sued for attempting to buy bank lenders’ votes, Bloomberg says
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January 23, 2015
07:50 EDTAPOApollo having trouble securing financing for Presidio deal, Reuters says
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January 15, 2015
08:15 EDTAPOApollo may have hard time with Caesar's 'fairness' test, Bloomberg says
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January 14, 2015
06:25 EDTAPOCaesar's unit expected to file own Chapter 11 bankruptcy petition, WSJ reports
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January 13, 2015
15:51 EDTAPOSpringleaf, Apollo Global among bidders for OneMain, Bloomberg says
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January 12, 2015
11:41 EDTNILE, SIGTiffany plummets after cutting fiscal 2014 profit outlook
Shares of jewelry and accessories retailer Tiffany (TIF) are sinking after the company lowered its profit outlook for fiscal 2014. Additionally, the company reported holiday sales for the two-month period ended December 31 were 1% below prior year levels. WHAT'S NEW: Tiffany this morning reported sales results for the two-month holiday period ended December 31. For the period, the company reported worldwide net sales of $1.02B, 1% below the prior year. Worldwide net sales increased 3% and comparable sales were even with the prior year on a constant-exchange-rate basis, which excludes the effect of translating foreign-currency-denominated sales into U.S. dollars. WHAT'S NOTABLE: Tiffany cut its FY14 net earnings per share view to $4.15-$4.20 from $4.20-$4.30, trailing analysts' consensus estimates of $4.32. Tiffany President and Chief Executive Officer Federic Cumenal said that the company is planning "cautiously" for the coming year. Cumenal noted that the company anticipates "significant headwinds from the stronger U.S. dollar against all of our key currencies that, as we experienced in the holiday period, negatively affects both the translation of results and sales to tourists in the U.S." Cumenal said that these factors are expected to result in the company planning low-to-mid single-digit sales and earnings growth in 2015. Cumenal also commented that "Despite these and other global economic pressures that we anticipate in the short-term, we believe that, when they abate, Tiffany will resume higher earnings growth rates based on stronger sales growth and increasing operating margins." ANALYST REACTION: This morning, research firm Sterne Agee lowered its price target for Tiffany to $110 from $121 citing the company's "disappointing" holiday comps and "soft" initial 2015 guidance. However, he firm kept a Buy rating on the name, and said it is encouraged by the company's relative strength in Asia-Pacific and Europe. PRICE ACTION: In late morning trading, Tiffany fell $12.15, or about 11.7%, to $91.30 on more than three times its average daily trading volume. Despite today's pull back, the shares have gained approximately 1% over the past 12 months. OTHERS TO WATCH: Tiffany & Co peers include Signet Jewelers (SIG), down 0.6%, and Blue Nile (NILE), down 2.2%.
07:46 EDTSIGStephens Events at 17th Annual ICR XChange Conference
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05:55 EDTSIGSignet Jewelers management to meet with Cowen
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