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Data Mixed 05-27-2011
Friday, May 27, 2011 - 2:39pm | 942Cusick's Corner This is what I expected going into this long weekend -- a listless consolidated trade. I was not surprised the market was mute when the housing data came out. The market's reaction was one that could be expected since the Income and Spending numbers came in line which was huge. I...
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Options Brief: American Eagle Outfitters
Friday, May 27, 2011 - 12:01pm | 82Shares of American Eagle Outfitters (NYSE: AEO) are lower on the session by 0.08%, trading at $13.09. Overall call volume is now running at 2.45x the daily average, with 51% of all calls traded being purchases on the offer. 6,657 contracts have traded on the session so far. American Eagle...
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UPDATE: Piper Jaffray Raising Price Target On Genesco
Friday, May 27, 2011 - 7:33am | 158Piper Jaffray is raising its price target on shares of Genesco Inc. (NYSE: GCO) to $53 from $46, and it is reiterating its Overweight rating after it reported earnings. Piper Jaffray writes, "GCO's FQ1 EPS of $0.67 well-exceeded PJC's estimate of $0.46 and consensus estimates of $0.48. Driven by...
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Piper Jaffray Raises PT On Genesco To $53
Friday, May 27, 2011 - 6:06am | 26Piper Jaffray has raised the price target on Genesco (NYSE: GCO) from $46 to $53 and maintains its Overweight rating.
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Squeeze Trade 05-26-2011
Thursday, May 26, 2011 - 7:05pm | 934Cusick's Corner Sorry folks -- the Midday edition was not emailed but it is posted on the blog, www.xpoundblog.com. I did get some emails about what I meant when I said yesterday that the market looks like it will "pop." I was referring to the upside and that is what we saw into the After Hours....
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Collective Brands' Stockholders Pass Proposals at Corporation's Annual Meeting
Thursday, May 26, 2011 - 4:43pm | 267Stockholders of Collective Brands (NYSE: PSS) today at the Corporation's annual meeting re-elected all three of the Company's nominees to the Collective Brands Board of Directors, approved an advisory vote on executive compensation, approved the one year frequency of holding future advisory votes...
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Collective Brands' Stockholders Pass Proposals at Corporation's Annual Meeting
Thursday, May 26, 2011 - 4:43pm | 142Stockholders of Collective Brands, Inc. (NYSE: PSS) today at the Corporation's annual meeting re-elected all three of the Company's nominees to the Collective Brands Board of Directors, approved an advisory vote on executive compensation, approved the one year frequency of holding future advisory...
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Foot Locker Announces Lauren B. Peters New CFO
Thursday, May 26, 2011 - 4:38pm | 279Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, announced today a series of organizational changes designed to enhance its focus on its two key business units – retail stores and direct-to-customer, and to strengthen the operations supporting each unit. The changes...
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Wall Street Strategies Downgrades American Eagle Outfitters to Sell, Lowers PT to $11
Thursday, May 26, 2011 - 2:40pm | 92Wall Street Strategies downgraded American Eagle Outfitters (NYSE: AEO) from Buy to Sell and lowered its American Eagle Outfitters price target from $16 to $11 in a research report published today. In the report, Wall Street Strategies states, "The shift in our position stems from a few items that...
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The Trouble with Stocks in the Retail Sector
Thursday, May 26, 2011 - 12:58pm | 716If you're thinking about investing in the retail sector, you may want to think again. The retail sector of the stock market has caused pain to a lot of investors in recent years, and was one of the worst performers in the fall of 2008, as many companies closed their doors never to reopen again....
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UPDATE: Google, Citi, MasterCard, First Data and Sprint Team up on Mobile Payment Technology
Thursday, May 26, 2011 - 12:29pm | 880At an event today, Google (NASDAQ: GOOG), Citi (NYSE: C), MasterCard (NYSE: MA), First Data and Sprint (NYSE: S) announced and demonstrated Google Wallet, an app that will make your phone your wallet so you can tap, pay and save money and time while you shop. For businesses, Google Wallet is an...
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Syms Corp Initiates Process to Explore and Evaluate Various Potential Strategic Alternatives
Thursday, May 26, 2011 - 9:25am | 127Syms Corp (NASDAQ: SYMS) announced today that its Board of Directors has initiated a process to explore and evaluate various potential strategic alternatives, which may include a possible sale of the Company. The Company has retained Rothschild Inc. as its exclusive financial advisor to assist the...
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BMC Reiterates Buy on Guess?
Thursday, May 26, 2011 - 8:52am | 50BMC reiterated Buy on Guess? (NYSE: GES). At the same time, BMC left its price target unchanged at $60 after the company reported strong Q1 results. On Wednesday, Guess? closed the day at $40.10. Its shares skyrocketed in today's pre-market trading, however, rising 12.34% to $45.05.
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Citi Reports On DSW's Recent Presentation
Thursday, May 26, 2011 - 8:42am | 103Citi is maintaining its Buy rating and its $50 price target on DSW Inc. (NYSE: DSW) after the company presented at the recent Citi Conference. Says Citi, in its report, “The big news out of DSW's presentation was its newly stated goal to double earnings by 2015. That implies a mid-teen operating...
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Earnings Roundup For May 26
Thursday, May 26, 2011 - 8:40am | 1113H.J. Heinz Co (NYSE: HNZ) reported its fourth-quarter profit at $223.9 million, or $0.70 per share, up from $192.4 million, or $0.61 per share, in the year-earlier period. Its income from continuing operations climbed to $0.69 per share from $0.60 per share. Breaking out closing costs of $0.02 per...