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Stock Market & Financial Investment News

News Breaks
June 5, 2014
13:17 EDTVRA, M, COH, KATE, SHOO, KORSVera Bradley sinks after weak Q1 revenue reflects 'difficult' enviornment
Shares of women's accessory company Vera Bradley (VRA) declined after reporting weak first quarter revenue which reflected a harsh environment over the quarter. WHAT'S NEW: Vera Bradley's Q1 EPS was 16c, which was higher than analyst's consensus of 13c. The company's Q1 revenue as $113.5M, which was below expectations. The accessory company said despite a higher than anticipated Q1 EPS result, it continues to face a difficult environment, one that is proving much more challenging than it foresaw two short months ago. Vera Bradley cited the sales miss to guidance primarily being due to lower than expected orders from the company's Indirect specialty retail partners, weaker than expected comparable store sales performance in the company's retail stores, and a shortfall at the company's annual outlet sale. Vera Bradley expects Q2 EPS to be 18c-20c which is lower than the consensus analyst forecast of 30c. The company foresees Q2 revenue to be $113M-$120M which is lower than the $127.48M that analyst predict. Vera Bradley anticipates FY15 EPS from continuing operations to be in the range of $1.00-$1.10 while analyst consensus guide higher to $1.26. The company expects FY14 revenue to range between $510M-$530M which is lower than expectations of $553.69M. The accessory company announced today that it's products will be sold at select Macy's (M) locations by mid-July. WHAT'S NOTABLE: During the company's Q1 earnings conference call, Vera Bradley said that the short term will remain challenging and it will take time for marketing plans to take hold. The company expects to incur pre-tax charges related to the exit from Japan during Q3 of approximately $2M, or 3c per share. FY15 direct segment comps are expected to be down in the mid single digits and the company says its still identifying cost reductions. Vera Bradley expects to cut costs in manufacturing and sourcing but aims to open seven outlets this year. OTHERS TO WATCH: Competitors in the accessory industry include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Steven Madden (SHOO). PRICE ACTION: During afternoon trading, shares of Vera Bradley fell 98c, or 3.88%, to $24.27.
News For VRA;M;COH;KATE;SHOO;KORS From The Last 14 Days
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July 17, 2014
07:45 EDTKORSMichael Kors discounting well below industry averages, says Credit Suisse
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July 16, 2014
10:44 EDTKORSOptions with increasing implied volatility: KORS TWX RVBD
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10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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06:51 EDTKORSMichael Kors downgraded to Market Perform from Outperform at William Blair
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July 15, 2014
12:31 EDTCOH, KATE, KORSMichael Kors sinks after analysts issue bearish notes
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11:34 EDTKORSMichael Kors downgraded to Hold, price target cut to $85 at Maxim
As previously reported, Maxim downgraded Michael Kors to Hold from Buy and lowered its price target on the shares to $85 from $109 after the firm's checks showed domestic sales have weakened more than expected, which in turn led to increased markdowns.
11:21 EDTKORSMichael Kors August volatility increases as shares trend lower into Q1
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11:17 EDTKORSStocks with call strike movement; KORS MYL
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11:17 EDTKORSMichael Kors downgraded to Hold from Buy at Maxim
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10:48 EDTKORSOptions with increasing implied volatility: GLUU KORS RVBD HSH
07:03 EDTKORSMichael Kors reiterated as an Underweight at Barclays
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06:44 EDTKORSMichael Kors sentiment 'increasingly more bearish,' says Piper Jaffray
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06:02 EDTKORSMichael Kors price target lowered to $98 from $107 at Citigroup
Citigroup lowered its price target for Michael Kors (KORS) to $98 after its national handbag survey indicated a "lack of newness" and that the company failed to meet plan in 17% of responses versus 1% previously. Citi says Kors continues to be number one in handbags and it keeps a Neutral rating on the stock. Its survey indicated results at Coach (COH) are fairly consistent overall, with an improvement in stores exceeding plan. Citi has a Neutral rating on Coach.
July 10, 2014
09:13 EDTKORSMichael Kors volatility at low end of historic range on tight price movement
Michael Kors overall option implied volatility of 32 is below its 26-week average of 34 according to Track Data, suggesting decreasing price movement.
July 9, 2014
10:02 EDTKATEOn The Fly: Analyst Initiation Summary
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10:02 EDTCOHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
09:13 EDTCOHOn The Fly: Pre-market Movers
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08:59 EDTCOHCoach downgraded at Buckingham
As noted earlier, Buckingham downgraded Coach to Underperform from Neutral. After analyzing the company's financial outlook, Buckingham concluded that the company will likely have to cut its dividend and/or raise more debt than expected. The firm remains pessimistic on the outlook for the company's business. Target to $28 from $32.
07:17 EDTCOHCoach downgraded to Underperform from Neutral at Buckingham
Price target lowered to $28 from $32.
07:01 EDTKORSMichael Kors names Mark Brashear as president of Men's, effective July 7
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