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Stock Market & Financial Investment News

News Breaks
July 23, 2014
07:48 EDTVFCVF Corp. management to meet with Deutsche Bank
Meeting to be held in New York on July 23 hosted by Deutsche Bank.
News For VFC From The Last 14 Days
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February 19, 2015
11:36 EDTVFCVF Corp. reaches settlement with RevoLaze in patent infringement case
RevoLaze, LLC, a laser technology firm headquartered in Westlake, OH, announced that it has reached a settlement and license agreement with VF Corporation regarding the patent infringement lawsuits filed with the International Trade Commission August 18, 2014 and Cleveland U.S. District Court on August 15, 2014 naming 17 denim jeans companies. The financial terms of the agreement are confidential.
February 18, 2015
10:42 EDTVFCApparel makers beyond Perry Ellis seen hurt by port slowdown
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February 17, 2015
18:43 EDTVFCApparel stocks lower after Perry Ellis warns of West Coast port disruption
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February 13, 2015
16:28 EDTVFCOn The Fly: Closing Wrap
Stocks on Wall Street opened the session in positive territory and remained there throughout the day. Although the market moved in a narrow range, the S&P 500 closed at an all-time high, the Nasdaq hit a 15 year high, and the Dow crossed back above 18,000 for the first time this year. There was little volatility in the market as investors looked forward to the three day President’s Day weekend. ECONOMIC EVENTS: In the U.S., consumer sentiment fell to 93.6 in the preliminary February release from the University of Michigan survey, versus expectations for the reading to hold at the 98.1 it achieved in January. The import price index for January declined 2.8%, versus the consensus forecast for a 3.2% drop. In Europe, Eurozone GDP grew by 0.3% in the last three months of 2014, which was a bit faster than expected, largely due to strength in Germany. COMPANY NEWS: Shares of King Digital (KING) advanced $1.96, or 13.3%, to $16.70, while shares of Zynga (ZNGA) dropped 42c, or 15.79%, to $2.24 after both casual game makers last night announced fourth quarter results and provided their respective outlooks. The maker of Candy Crush and other games reported adjusted earnings per share and revenue that beat expectations and also announced a special dividend of 84c per share, while the revenue and outlook of its rival Zynga came in below expectations. MAJOR MOVERS: Among the notable gainers was Columbia Sportswear (COLM), which rose $7.91, or 18.15%, to $51.50 after the clothing maker reported better than expected sales and profits, gave an earning forecast that topped estimates and approved an additional $200M share repurchase authorization. Also higher following its earnings report was another clothing maker V.F. Corporation (VFC), the owner of the North Face, Vans and Timberland brands, which gained $4.26, or 6%, to $75.26. Among the noteworthy losers was MagnaChip Semiconductor (MX), which plunged $7.50, or 49.93%, to $7.52 and was downgraded at Topeka and Barclays after restating its financial statements for 2011, 2012, 2013, and the first three quarters of 2014. Also lower were shares of ConAgra (CAG), which slid $1.59, or 4.37%, to $34.83 after the packaged food maker said after last night's closing bell that it sees third quarter earnings per share 10c below the 62c it earned in the same quarter last year. INDEXES: The Dow rose 46.97, or 0.26%, to 18,019.35, the Nasdaq gained 36.22, or 0.75%, to 4,893.84, and the S&P 500 advanced 8.51, or 0.41%, to 2,096.99.
07:04 EDTVFCVF Corp. sees FY15 EPS up 12% on currency netural basis vs. FY14
Consensus is $3.39. Revenue is expected to increase by 8% on a currency neutral basis. Revenues for the Outdoor & Action Sports coalition, including The North Face®, Vans® and Timberland® brands, are expected to increase at a low double-digit percentage rate currency neutral. Imagewear and Sportswear coalition revenues are expected to grow at a mid single-digit rate. Jeanswear is expected to grow at a low single-digit rate and Contemporary Brands revenues are expected to be nearly flat on a currency neutral basis. VF expects to spend approximately $700M under the company’s share repurchase program; when combined with the annual dividend, this will return more than $1.2B to shareholders in 2015. Gross margin is expected to improve by 40 basis points to reach 49.2%, which includes a 30 basis point headwind from changes in foreign currency. Operating margin is expected to reach 15%, including the negative impact of changes in foreign currency. In terms of revenue comparisons in 2015, on a currency neutral basis, we expect relatively consistent growth comparisons quarter-by-quarter throughout the year. Due to the rapid strengthening of the U.S. dollar in the second half of 2014, reported revenue comparisons in the second half of 2015 will be slightly stronger than in the first half. In terms of earnings cadence in 2015, the negative impact of currency movements is more pronounced in the first half of the year, especially in the first quarter when foreign currencies in 2014 were at their strongest level against the U.S. dollar and our international business mix is particularly high.
07:01 EDTVFCVF Corp. reports Q4 adjusted EPS 98c, consensus 98c
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