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Stock Market & Financial Investment News

News Breaks
January 3, 2014
10:44 EDTVRA, TJX, AEO, ROST, FOSL, SIG, TIFAnalyst sees storm to reduce Q4 retail sales by about 1%
The winter storm hitting the Northeast is likely to reduce retailers' sales by about 1% in their fourth quarter, Citigroup estimated. WHAT'S NEW: The storm will likely cause many shoppers to stay home between Thursday and Saturday in the Northeast and Midwest, Citigroup analyst Oliver Chen wrote in a note to investors. The snowfall yesterday and today, followed by very low temperatures on Saturday, will keep many customers in the affected regions to stay out of stores, the analyst explained. Last year, store traffic during the first Thursday to Saturday in January made up 3%-4% of retailers' total fourth quarter traffic, Chen estimated. Retailers with the most stores in the areas affected by the storm include Vera Bradley (VRA), TJX (TJX), and American Eagle (AEO), the analyst wrote. Retailers with the lowest number of stores in the affected areas include Ross Stores (ROST) and Fossil (FOSL), according to Chen. Also likely to be less affected by the storm than many retailers are companies that specialize in selling jewelry, including Tiffany (TIF) and Signet Jewelers (SIG), he added. The storm is not likely to impact sales of Valentine Day's gifts, Chen explained. PRICE ACTION: In midday trading, Vera Bradley rose 1% to $24.25, TJX added 0.8% to $64, American Eagle advanced 0.5% to $14.80, Ross Stores gained 0.5% to $74.65, Fossil was up 0.8% to $119, Tiffany lost 0.2% to $92.35, and Signet Jewelers was 1% higher to $79.50.
News For VRA;TJX;AEO;ROST;FOSL;SIG;TIF From The Last 14 Days
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September 11, 2014
09:39 EDTTIFTiffany management to meet with Topeka
Meeting to be held in Boston on September 16 hosted by Topeka.
08:50 EDTVRAVera Bradley upgraded to Outperform at RW Baird
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07:19 EDTSIGSignet Jewelers price target raised to $140 from $125 at BofA/Merrill
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06:02 EDTVRAVera Bradley upgraded to Outperform from Neutral at RW Baird
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September 10, 2014
11:37 EDTFOSLGarmin bounces back, Fossil continues slide after Apple Watch unveiled
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10:00 EDTTIFOn The Fly: Analyst Downgrade Summary
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08:55 EDTFOSLFossil risk increased by Apple Watch, says Sterne Agee
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08:51 EDTTIFTiffany downgraded at Credit Suisse
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08:14 EDTVRAVera Bradley approves share repurchase plan up to $40M
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08:13 EDTVRAVera Bradley sees Q3 EPS 18c-20c, consensus 26c
Sees Q3 revenues $123M-$128M, consensus $126.71M.
08:12 EDTVRAVera Bradley backs FY15 EPS $1.00-$1.10, consensus $1.05
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08:10 EDTVRAVera Bradley reports Q2 EPS 19c, consensus 19c
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06:31 EDTFOSLFossil risk/reward attractive after Apple Watch news, says Jefferies
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06:19 EDTTIFTiffany downgraded to Neutral from Outperform at Credit Suisse
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September 9, 2014
15:30 EDTVRANotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Manchester United (MANU), consensus ($2.00); Vera Bradley (VRA), consensus 19c; PMFG (PMFG), consensus (4c).
14:09 EDTFOSLFossil down 3% after Apple confirms launch of Apple Watch
Shares of watchmaker Movado (MOV) are also down 1.6% as Apple's (AAPL) launch event continues.
September 8, 2014
06:21 EDTFOSLSmartwatch market to reach $10B by 2018, says Citigroup
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September 5, 2014
16:12 EDTFOSLFossil, Intel announce collaboration to develop innovation in wearable tech
Fossil Group (FOSL) and Intel Corporation (INTC) announced that they will be collaborating to further develop wearable technology for the fashion industry. Fossil Group will partner with Intel to identify, support and develop emerging trends in the wearable technology space. The companies will work together on emerging products and technologies that will be developed for the fashion-oriented consumer. In addition, Fossil Group will work closely with Intel Capital, Intelís global investment organization, to identify and evaluate co-investments in emerging technologies to accelerate industry innovation and stay at the forefront of the wearable consumer trend.
12:19 EDTAEOGap falls after reporting August same-store sales decline
Shares of apparel retailer Gap (GPS) are falling after the company reported disappointing August same-store sales results and Buckingham analysts downgraded the company's stock. WHAT'S NEW: Gap reported last night that its August comparable sales declined 2%, compared to a 2% increase a year ago in the same month. Gap Global SSS fell 9%, Banana Republic Global SSS fell 2% and Old Navy Global SSS rose 2%. Gap also reported its August net sales were flat compared to last year's $1.23B. WHAT'S NOTABLE: Looking ahead, the company said Gap's August sales performance will likely put pressure on the brand's gross margins in September. ANALYST REACTION: Gap was downgraded to Neutral from Buy at Buckingham this morning following the August comparable sales numbers. Buckingham analysts say they question the previously anticipated 2H14 comp recovery at the core brand and do not see upside to the stock if the flagship brand does not turn positive in the second half. Buckingham expects the stock's multiple to contract back to its historical average until sales improve. The firm still expects full-year 2014 guidance to be achievable as Gap manages expenses and it continues to like operational improvements the company is making in its supply chain and omni-channel initiatives. Until sales improve, Buckingham expects shares to remain range bound near $44 to $46. UBS analysts, on the other hand, say Gap's share weakness presents a buying opportunity. The firm said the miss does not derail the company's ability to show improvement over the second half and does not impact their long-term thesis tied to margin improvement opportunities. PRICE ACTION: Near noon, Gap fell $2.20, or about 5%, to $44.39. OTHERS TO WATCH: Competitors to Gap include American Apparel (APP), American Eagle (AEO), Urban Outfitters (URBN), Express (EXPR), and Abercrombie and Fitch (ANF).
11:43 EDTAEOZumiez sinks as company provides 'disappointing' Q3 outlook
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