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Stock Market & Financial Investment News

News Breaks
March 27, 2014
11:19 EDTTIF, ZLC, NILE, SIGSignet Jewelers hits 52-week high after quarterly results top estimates
Shares of specialty jeweler Signet Jewelers (SIG) are advancing after the company's fourth quarter results topped expectations. WHAT'S NEW: This morning, Signet Jewelers reported fourth quarter earnings per share of $2.18 and revenue of $1.56B, compared to expectations of $2.15 and $1.55B, respectively. The company reported Q4 same store sales rose 4.3%, with Kay brand SSS up 4.9%, Jared SSS up 4.1% and Regional brands SSS down 3.1%. WHAT'S NOTABLE: On February 19, Signet agreed to acquire Zale Corporation (ZLC) for $21.00 per share in cash. Signet Jewelers forecast Q1 EPS ex-acquisition costs of $1.24-$1.28, compared to consensus $1.28. The company sees acquisition costs impacting Q1 EPS by 10c-8c, resulting in total first quarter EPS in the range of $1.14-$1.20. The recently announced acquisition of Zale will result in the realization of incremental expenses prior to the close of the transaction, as the final close date is dependent upon Zale stockholder and regulatory approval and the satisfaction of closing conditions. Signet anticipates Q1 SSS to rise 3%-4%. The company also raised its quarterly dividend to 18c from 15c per share. PRICE ACTION: In late morning trading, Signet Jewelers rose $6.56, or 6.6%, to $104.87 on nearly twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $107.38. The stock is up over 65% over the past twelve months. OTHERS TO WATCH: Other companies in the jewelry space include Tiffany & Co. (TIF) and Blue Nile (NILE).
News For SIG;ZLC;TIF;NILE From The Last 14 Days
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February 2, 2016
11:16 EDTTIFTiffany management to meet with Jefferies
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February 1, 2016
13:39 EDTTIFJP Morgan reports 6.8% passive stake in Tiffany
10:02 EDTTIFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:24 EDTTIFTiffany's IDR downgraded by Fitch to BBB+; outlook Stable
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06:22 EDTTIFRestoration Hardware downgraded to Market Perform from Outperform at Cowen
Cowen analyst Oliver Chen downgraded Restoration Hardware (RH) to Market Perform saying a slowdown in high-end consumer spending brings risk to 2016 estimates. The analyst cut his price target for the shares to $64 from $105. Chen also downgraded Tiffany (TIF) this morning.
06:18 EDTTIFTiffany downgraded to Market Perform from Outperform at Cowen
Cowen analyst Oliver Chen downgraded Tiffany to Market Perform saying global macroeconomic weakness brings downside risk to comps. The analyst lowered his price target for the shares to $70 from $75.
January 27, 2016
08:00 EDTTIFTiffany, Coty announce new fragrance agreement
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