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Stock Market & Financial Investment News

News Breaks
May 21, 2014
10:22 EDTTIF, KORS, COH, SIG, NILE, JWNTiffany advances after beat and raise quarter
Shares of luxury retailer Tiffany (TIF) are climbing after the company reported significantly stronger than expected results and raised its full-year profit guidance. WHAT'S NEW: Tiffany reported first quarter earnings per share of 97c, well above analysts' consensus outlook of 78c. The company's Q1 revenue came in at $1B, versus the consensus outlook of $955M. The retailer said that its comparable sales jumped 9% last quarter, compared with the same period a year earlier. Meanwhile, Tiffany increased its fiscal 2014 EPS guidance to $4.15-$4.25 from $4.05-$4.15, bringing its outlook in-line with the consensus estimate of $4.17. The retailer said it expects its gross margin to rise this year. Tiffany warned, however, that it is difficult to extrapolate full-year results based on its Q1 earnings, since Q1 is historically the weakest quarter of the year. OTHERS TO WATCH: Other high end retailers include Signet Jewlers (SIG), Blue Nile (NILE), Nordstrom (JWN), Michael Kors (KORS), and Coach (COH). PRICE ACTION: In early trading, Tiffany rose $8.16, or 9.25% to $96.39.
News For TIF;KORS;COH;SIG;NILE;JWN From The Last 14 Days
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October 29, 2014
07:13 EDTKORSMichael Kors downgraded at Janney Capital
As previously reported, Janney Capital downgraded Michael Kors to Neutral from Buy. The firm downgraded shares based on valuation, macro concerns, merchandising margin pressure, investment cycle, and maturation of North America.
05:59 EDTKORSMichael Kors downgraded to Neutral from Buy at Janney Capital
Janney Capital downgraded Michael Kors following the Q2 report citing valuation.
October 28, 2014
17:01 EDTCOHOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory despite two disappointing economic data points and a mixed report from social media giant Twitter (TWTR). The market moved in a narrow range for the opening half hour of trading but gained upside momentum following a much better than expected consumer confidence reading. The market continued to tack on points throughout the afternoon and closed at its highs, led by the Nasdaq, which gained 1.75% for the session. ECONOMIC EVENTS: In the U.S., durable goods orders fell 1.3% in September, significantly undershooting expectations for them to have rise 0.7% in the month. The S&P Case-Shiller home price report showed prices were lower on a seasonally adjusted basis in the month of August compared to the prior month. A reading of consumer confidence surged to a seven-year high of 94.5 in October from a revised 89.0 final reading for September. The Richmond Fed's manufacturing index rose 6 points to 20 in October, beating expectations for it to have pulled back to 10. COMPANY NEWS: Twitter (TWTR) sunk $4.78, or 9.84%, to $43.78 after the social media company reported in-line profit and higher than expected Q3 revenue, but also reported a slowdown in user growth and provided weaker than expected Q4 guidance. Following last night's report, the stock was downgraded at RBC Capital, Nomura and Bank of America Merill Lynch to "Hold" or equivalent ratings, while Stifel lowered its rating on Twitter shares to Sell from Hold... Shares of Pfizer (PFE) edged up 6c, or 0.21%, to $29.09 after the pharmaceutical giant reported third quarter adjusted earnings per share and revenue that were a bit better than expected and narrowed its fiscal year profit outlook. Of note, Pfizer said during its earnings conference call that while proposed rule changes have made "inversions" more difficult, that meaningful value from inversion deals can still exists on a "case-by-case" basis. Shares of AstraZeneca (AZN), which was previously a target of Pfizer, gained 67c, or 0.95%, to $71.43 following Pfizer's comments. MAJOR MOVERS: Among the notable gainers following their earnings reports were Whirlpool (WHR), which advanced $10.66, or 6.77%, to $168.06, Cummins (CMI), which gained $9.22, or 6.81%, to $144.59, and Cliffs Natural (CLF), which jumped $2.05, or 22.19%, to $11.29. Among the noteworthy losers was Kohlís (KSS), which dropped $3.89, or 6.64%, to $54.66 after the department store operatorís outlook for third quarter same store sales and fiscal 2014 profit missed expectations. Also lower were shares of Coach (COH), which fell $2.15, or 5.95%, to $34.00 after the luxury handbag and accessory maker reported sales declined 9% on a constant currency basis in its first quarter. INDEXES: The Dow rose 187.81, or 1.12%, to 17,005.75, the Nasdaq advanced 78.36, or 1.75%, to 4,564.29, and the S&P 500 gained 23.42, or 1.19%, to 1,985.05.
11:58 EDTCOHStocks with call strike movement; COH DOW
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10:39 EDTCOHCoach hits fresh 52-week low following earnings, levels to watch
Shares earlier hit a fresh 52-week low at $33.25 following earnings that missed expectations. The $33 area has been a strong zone of support, notably in 2010, 2008, and 2006. Support below $33 is at $32.18. Resistance is at $34.93.
09:20 EDTCOHOn The Fly: Pre-market Movers
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09:09 EDTCOHCoach sees annual financial improvement beginning in FY16
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09:07 EDTCOHCoach sees low double digit decline in FY15 constant currency, reported sales
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08:59 EDTCOHCoach says still targeting China sales of over $600M in FY15
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08:11 EDTCOHCoach report Q1 EPS ex-items 53c, consensus 45c
07:02 EDTCOHCoach reports Q1 EPS 43c, consensus 45c
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October 27, 2014
15:36 EDTCOHNotable companies reporting before tomorrow's open
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07:13 EDTKORSMichael Kors Q2 earnings could beat by 5c-7c, says Piper Jaffray
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October 22, 2014
09:50 EDTJWNCredit Suisse to hold a field trip
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October 21, 2014
08:06 EDTSIGSignet Jewelers remains a top pick at Nomura
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October 20, 2014
13:10 EDTKORSSteve Madden tumbles after providing preliminary Q3 results, FY14 outlook
Shares of shoe and accessory company Steve Madden (SHOO) are tumbling after the company announced preliminary third quarter results that were below analysts' consensus along with a reduction to its fiscal year 2014 outlook. WHAT'S NEW: Steve Madden announced that it is anticipating Q3 earnings per share to be approximately 61c-62c and net sales of $392M, below analysts' consensus estimates of 67c and $415.72M, respectively. The company noted that retail comparable store sales for the quarter are anticipated to be down 7.4%. Steve Madden also reduced its FY14 EPS outlook to $1.81-$1.86 from $2.00-$2.10, well below analysts' $2.02 consensus. The company lowered its net sales projection for the year, and now sees net sales up 1%-2% over fiscal year 2013 versus its previous net sales guidance for up 2%-4% over FY13. The new guidance factors in the recent acquisition of Dolce Vita and current expectations for remainder of the year. On August 14, Steve madden acquired Dolce Vita for $60.3M in cash and previously said the deal would be accretive to earnings in FY14 by 2c-3c and be "modestly accretive" in FY15. WHAT'S NOTABLE: Steve Madden's Chief Executive Officer Edward Rosenfeld said that the company's Q3 earnings were "disappointing" and were the result of weaker than expected retail segment performance. He believes that retail trends in the footwear space will continue to be difficult through the fourth quarter due to a lack of noteworthy fashion trends in the industry. The CEO said that the company's full-year guidance results from this pattern, along with a lowered reorder outlook in its wholesale segment. Rosenfeld is still confident, however, in the company's business model and believes that its acquisitions of Dolce Vita and its Mexican licensee will fuel the business forward over the long term. OTHERS TO WATCH: Competitors of Steve Madden include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Vera Bradley. PRICE ACTION: During afternoon trading, shares of Steve Madden fell $2.62 or 8.2%, to $29.32. Over the last twelve months, the stock has fallen over 15%.
11:40 EDTSIGSignet Jewelers management to meet with Sterne Agee
Group breakfast to be held in New York on October 24 hosted by Sterne Agee.
October 17, 2014
10:00 EDTTIF, SIGOn The Fly: Analyst Initiation Summary
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05:32 EDTTIFTiffany initiated with an Equal Weight at Barclays
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05:32 EDTSIGSignet Jewelers initiated with an Overweight at Barclays
Target $120.
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