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June 6, 2014
10:49 EDTLULU, VFC, ZQKQuiksilver rallies after UBS says takeover still possible
Shares of apparel maker Quiksilver (ZQK) are jumping after research firm UBS wrote that the company is still an attractive takeover target for VF Corp. (VFC), despite the weaker than expected results that Quiksilver reported on June 2. WHAT'S NEW: Although Quiksilver reported significantly weaker than expected Q2 results and the stock plunged, there are still strategic rationales for VF Corp. to buy the company, UBS contended. Among Quiksilver's features that make it attractive for VF Corp. are its emphasis on action and sports apparel, its strong brand, and its sustainable long-term growth, UBS believes. Additionally, Quiksilver could help VF Corp. reduce its dependence on winter apparel, the firm wrote. UBS kept Quiksilver on its top M&A target list. WHAT'S NOTABLE: VF Corp. operates like a private equity firm and should make one or two "significant" acquisitions every other year or so, ISI analyst Omar Saad wrote in his own note to investors on May 13. VF Corp. lacks a foothold in the strong and growing performance athletic apparel segment and a merger between it and lululemon (LULU) would be mutually beneficial, Saad contended at that time. PRICE ACTION: In mid-morning trading, Quiksilver climbed 8% to $3.62.
News For ZQK;VFC;LULU From The Last 14 Days
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February 20, 2015
07:14 EDTLULUOppenheimer to hold a tour
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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 EDTLULU, VFCApparel stocks lower after Perry Ellis warns of West Coast port disruption
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