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Stock Market & Financial Investment News

News Breaks
January 15, 2013
19:17 EDTVRA, CBK, TTMI, FIVE, PCRX, DELL, CRSOn The Fly: After Hours Movers
UP AFTER EARNINGS/GUIDANCE: Vera Bradley (VRA), up 9.7% after raising its Q4, FY12 EPS views... Christopher & Banks (CBK), up 8.4% after raising its Q4 SSS view... TTM Technologies (TTMI), up 6.8% after providing Q4 EPS and revenue guidance within range of Street... DOWN AFTER EARNINGS/GUIDANCE: Five Below (FIVE), down 1.8% despite raising its Q4 guidance... Pacira Pharmaceuticals (PCRX), down 4.6% after providing Q4, FY12 revenue guidance... Carpenter Technology (CRS), down 6% after providing Q2 EPS, revenue guidance below Street estimates... ALSO LOWER: Dell (DELL), down 1.2% after CNBC's David Faber reported a buyout deal for the company would likely be worth $13.50-$14 per share.
News For VRA;CBK;TTMI;FIVE;PCRX;DELL;CRS From The Last 14 Days
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October 20, 2014
14:22 EDTFIVEFive Below management to meet with BB&T
Meeting to be held in Philadelphia on October 23 hosted by BB&T.
13:10 EDTVRASteve 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%.
07:12 EDTPCRXCongress of Neurological Surgeons to hold annual meeting
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October 17, 2014
10:00 EDTFIVEOn The Fly: Analyst Initiation Summary
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08:11 EDTFIVEFive Below initiated with a Hold at Stifel
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October 15, 2014
07:32 EDTDELLUBM Canon to hold a conference
PLASTEC Midwest Conference is being held in Chicago on October 15-16.
October 14, 2014
06:01 EDTCBKChristopher & Banks management to meet with Piper Jaffray
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October 13, 2014
16:01 EDTPCRXPacira announces additional data supporting safety of EXPAREL
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October 7, 2014
12:09 EDTCBKOn The Fly: Midday Wrap
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11:34 EDTCBKChristopher & Banks plummets after cutting Q3 revenue outlook
Shares of specialty women's apparel retailer Christopher & Banks (CBK) are sinking after the company lowered its third quarter revenue outlook. WHAT'S NEW: This morning, Christopher & Banks lowered its Q3 revenue outlook to $114M-$118M from its previous guidance of $122M-$124, trailing the consensus of $123.98M. The company also cut the top end of its Q3 margin forecast, lowering its margin growth outlook to 75-100 basis points from its prior view of 75-125 bps. SG&A dollars for the quarter are expected to be approximately $33.5M-$34M, below its prior guidance of $34M-$34.5M. Christopher & Banks expects its inventory at the end of the quarter will remain higher than the comparable prior year period on a dollar per square foot basis, but at a level lower than at the end of Q2, due to planned higher levels of core inventory. WHAT'S NOTABLE: The company believes sales have been negatively impacted by continued softness in mall traffic and lower than expected sales from its September fashion show. The company noted that the demand for fashion merchandise exceeded planned inventory levels, due to late receipts associated with the West Coast port disruptions. President and Chief Executive Officer LuAnn Via said in a statement, "We believe that the continued softness in traffic trends, coupled with the difficult overall retail environment, have adversely affected our sales as compared to our initial expectations for the quarter." She said the firm assumes promotional activity will continue to be aggressive and that the current environment will continue to be challenging, creating continued pressure on sales and margins. PRICE ACTION: In late morning trading, Christopher & Banks fell $2.69, or about 30%, to $6.40 on nearly four times its average daily trading volume. Despite today's pull-back, the shares have only lost approximately 2% over the past 12 months. OTHERS TO WATCH: Other specialty women's retailers include Chico's FAS (CHS), down 1.28%, Ann Inc. (ANN), down 2.1%, and L Brands (LB), down 1.13%.
09:14 EDTCBKOn The Fly: Pre-market Movers
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08:08 EDTCBKChristopher & Banks says Q3 sales negatively impacted by mall traffic softness
In regards to its Q3 outlook, the company believes sales have been negatively impacted by continued softness in mall traffic and lower than expected sales from its September fashion show, as the demand for fashion merchandise exceeded planned inventory levels, as well as due to late receipts associated with the West Coast port disruptions.
08:06 EDTCBKChristopher & Banks lowers Q3 revenue view to $114M- $118M
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08:05 EDTCBKChristopher & Banks lowers Q3 revenue view to $114M- $118M
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October 6, 2014
09:59 EDTVRAVera Bradley to host analyst and investor day
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09:58 EDTVRAVera Bradley to host analyst and investor day
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