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Foot Locker Up 9% On Earnings Beat (FL)
Friday, November 19, 2010 - 10:47am | 59Foot Locker, Inc. (NYSE: FL) is up 9% after the company reported better than expected earnings last night after the bell. For the quarter, Foot Locker said earned 33 cents a share, far better than the 17 cents Wall Street was expecting. At last check, shares of FL were up $1.48 to $17.92, a gain...
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News Summary
Friday, November 19, 2010 - 10:32am | 178Shares of Ann Taylor Stores Corp (NYSE: ANN) surged about 9.5% after the company posted upbeat FQ3 results. The company's profit came in at $0.41 per share, up from $0.03 per share, in the year-earlier period. Excluding one-time items, the company posted its earnings at $0.42 per share. The...
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Piper Jaffray Comments On Dress Barn's Solid Earnings Report
Friday, November 19, 2010 - 10:17am | 167Dress Barn (NASDAQ: DBRN) beat its EPS estimate by two cents in FQ1 and the company maintained full-year EPS guidance. Strong margins for maurices and Justice were enough to offset markdowns and deleverage at the dressbarn division. Piper continues to believe that DBRN can meaningfully grow margins...
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Foot Locker Continuing To Turn Around
Friday, November 19, 2010 - 10:07am | 109Sterne Agee has published a research report on Foot Locker, Inc. (NYSE: FL) after the company reported 3Q results that showed the company is continuing its positive turnaround. In the report, Sterne Agee writes "n our opinion, the quarter was high quality, principally driven by accelerating sales...
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Sterne Agee Raises Estimates on Shoe Carnival
Friday, November 19, 2010 - 9:24am | 128Sterne Agee is raising its estimates on Shoe Carnival (NASDAQ: SCVL). In a note to client, Sterne Agee writes, "We are increasing our 4Q10, FY10 and FY11 EPS estimates from $0.26, $1.98, and $2.19 to $0.31, $2.06, and $2.28. We are modeling a 5% increase in 4Q10 SSS. We are now modeling a 30bps...
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Piper Jaffray Reiterates NWY Rating; Lowers FY12 EPS
Friday, November 19, 2010 - 9:20am | 100Piper Jaffray is reiterating its Neutral rating on New York & Company (NYSE: NWY) shares and lowering its FY12 EPS outlook following the company's Q3 earnings report. “We remain on the sidelines, preferring to wait for consistency in performance – a major historical issue for NWY – even if we...
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The Children's Place Expected To Bounce Back After Tough 3Q
Friday, November 19, 2010 - 9:18am | 177Goldman Sachs has raised estimates on The Children's Place (NASDAQ: PLCE) despite a tough 3Q for PLCE. PLCE's 3Q EPS were $1.14 which were slightly above estimates but comp retail sales were -5.7% vs. the pre-announced comps negative mid-single digits. Unseasonably warm weather and fashion misses...
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Goldman Sachs Raises Gap PT To $19
Friday, November 19, 2010 - 9:14am | 127Goldman Sachs reports that Gap, Inc.'s (NYSE: GPS) 3Q EPS of $0.48 “was essentially in-line with our estimate and the preannounced $0.47-0.48.” As reported, total sales were +2% with comps flat. “SG&A reductions offset softer than expected gross margin (merchandise margin down 180 bps),”...
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Oppenheimer Lowers GAP FY10E/FY11E
Friday, November 19, 2010 - 9:10am | 149Gap, Inc. (NYSE: GPS) reported FY3Q10 EPS of $0.48 vs. Oppenheimer/consensus $0.47, Oppenheimer reports. “Revenues increased 2% to $3.654B on a flat comp. GM deteriorated 130 bps to 41.2% reflecting a drop in merchandise margin (-180 bps) partially offset by buying and occupancy leverage (+50 bps...
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Benzinga's Top Downgrades (LTD, VRGY, WFMI, THS)
Friday, November 19, 2010 - 9:03am | 151Limited Brands Inc (NYSE: LTD) was downgraded by BMO Capital from "outperform" to "market perform." LTD's shares closed at $33.26 yesterday. Limited Brands' earnings have fallen by 1.42% in the past 5 years. Verigy Ltd (NASDAQ: VRGY) was downgraded by Citigroup from "buy" to "hold." VRGY's stock...
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J.P. Morgan Tweaks TJX; PT Remains At $46
Friday, November 19, 2010 - 8:51am | 88J.P. Morgan is slightly lowering its TJX Companies, Inc. (NYSE: TJX) 2010/2011 EPS estimates to $3.38/$3.66 (from $3.40/$3.70). “Our Dec 2011 PT remains $46 and is based on a 12-13x multiple, a discount to the group, which seems reasonable as the execution issues at TKMaxx along with the company's...
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Ann Taylor Stores Corporation Sees Q4 Total Net Sales of $500M
Friday, November 19, 2010 - 8:50am | 419For the fiscal fourth quarter of 2010, Ann Taylor Stores Corporation (NYSE: ANN) expects total net sales to approach $500 million, reflecting mid- to high-single digit comparable sales performance at the Company, including a double-digit comparable sales performance at the Ann Taylor brand, and...
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J.P. Morgan Raises Limited Brands Estimates; PT Goes To $37
Friday, November 19, 2010 - 8:48am | 68J.P. Morgan is raising its Limited Brands, Inc. (NYSE: LTD) 2010/2011 EPS estimates to $1.95/$2.20 (from $1.90/$2.14). “[Our] Dec 2011 PT is raised to $37 (from $35 prior) based on 16-17x our upwardly revised 2011 estimate,” J.P. Morgan writes. “We currently view shares favorably given top-line...
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Ann Taylor Stores Corporation Reports Q3 EPS of $.42
Friday, November 19, 2010 - 8:47am | 176Ann Taylor Stores Corporation (NYSE: ANN) today reported results for the fiscal third quarter ended October 30, 2010. For the third quarter of 2010, the Company reported earnings per diluted share of $0.42, excluding after-tax restructuring charges totaling $0.01 per diluted share, compared with...
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A Peek Into The Market Before The Trading Starts
Friday, November 19, 2010 - 8:43am | 496Pre-open movers US stock futures are lower this morning, as China lifted the reserve requirement ratio for banks by 50 basis points. Futures on the Dow Jones Industrial Average declined 33 points to 11,143.00, while S&P 500 index futures lost 3.70 points to 1,194.00. Nasdaq 100 futures dropped...