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Collective Brands Plunges After Earnings
Tuesday, May 24, 2011 - 4:22pm | 216Collective Brands (NYSE: PSS) released its fiscal first quarter earnings results after the closing bell on Tuesday. The company reported GAAP earnings attributable to the company of $26.4 million or $0.42 per share, compared to $54.2 million or $0.83 per share in last year's first quarter. Adjusted...
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Minnesota Power And Manitoba Hydro Sign Power Purchase Deal
Tuesday, May 24, 2011 - 4:03pm | 198Minnesota Power and Manitoba Hydro have signed a long-term power purchase agreement that will reduce carbon emissions for the utility division of ALLETE (NYSE: ALE), provide the lowest-cost energy resource for consumers and introduce a unique way to “store” premier wind energy generated in North...
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Collective Brands Announces Retail Development Agreements for Stride Rite Children's Group Brands in Indonesia, Thailand and Korea
Tuesday, May 24, 2011 - 10:51am | 77Collective Brands, Inc. (NYSE: PSS) announced today that its Performance + Lifestyle Group has signed new agreements aimed at bringing the premium children's footwear brand, Stride Rite, and its broad kids' brand portfolio to new markets of Indonesia, Thailand and Korea. As part of the agreement...
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Citi Comments On DSW 1Q11
Tuesday, May 24, 2011 - 9:35am | 106According to Citi, DSW (NYSE: DSW) reported 1Q adjusted EPS of $0.87 (ex merger related expenses) versus the $0.75 estimate and consensus of $0.75. Citi said that that excludes $1.4 million in expenses related to the RVI merger, which lowered 1Q EPS by $0.02. “Gross margins were up 140bps likely...
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Earnings Roundup For May 24
Tuesday, May 24, 2011 - 8:47am | 675Medtronic Inc (NYSE: MDT) reported a 19% drop in its fourth quarter net income on Tuesday. Medtronic reported its Q4 profit at $776 million, or $0.72 per share, down from $954 million, or $0.86 per share, in the year-ago period. Excluding restructuring and other costs of $198 million, Medtronic's...
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UPDATE: DSW Reports Q1 Net Income of $38.4 million
Tuesday, May 24, 2011 - 7:53am | 123DSW Inc (NYSE: DSW) reported a 12% rise in its Q1 net sales on Tuesday. DSW reported its quarterly net income at $38.4 million, or $0.85 per share, versus $30.2 million, or $0.67 per share, in the year-ago period. The latest quarter earnings included charges of $0.02 related to the pending merger...
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Jefferies Favors Guess
Tuesday, May 24, 2011 - 7:35am | 124Jefferies & Co. is out with a research report, and it favors retail names such as Guess Co. (NYSE: GES). It has a Buy rating and a $60 price target on shares. In a note to investors, Jefferies writes, "Guess remains one of our favorite names with its well positioned global portfolio, varied...
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Alliance Data Signs Long-Term Extension Agreement With Limited Brands' Victoria's Secret
Tuesday, May 24, 2011 - 7:30am | 49Alliance Data Systems Corporation (NYSE: ADS) today announced it has signed a long-term extension agreement with Victoria's Secret, a subsidiary of Limited Brands, Inc. (NYSE: LTD) , to provide private label credit card services.
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Earnings Scheduled For May 24
Tuesday, May 24, 2011 - 1:04am | 445Avago Technologies Limited (NASDAQ: AVGO) is expected to post its FQ2 EPS at $0.60 on revenue of $554.40 million. TiVo Inc (NASDAQ: TIVO) is projected to report a Q1 loss at $0.31 per share on revenue of $41.98 million. AutoZone Inc (NYSE: AZO) is projected to report its FQ3 EPS at $4.99 on...
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How Many Chops Does It Take to Bring the Market Down? 05-23-2011
Monday, May 23, 2011 - 3:02pm | 882Cusick's Corner The elements that we discussed all last week came together on the open - the EU has a continuing debt crisis and China's slowdown is creating momentum to the downside. Two sectors that appear to be under the most pressure right now are Crude and Euro Currency which is putting even...
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Gap Bounces Back
Monday, May 23, 2011 - 1:18pm | 67Shares of The Gap (NYSE: GPS), which fell more than 17% on Friday after the company released mediocre earnings and terribly guidance, have regained around 1% during Monday's trading session. This has been one of very few hiding places in what has been an across the board sell off in risk assets....
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Top Performing Industries For May 23
Monday, May 23, 2011 - 10:12am | 147At 10:10 am, the Dow fell 1.01% to 12,385.05, the broader Standard & Poor's 500 index moved down 1.09% to 1,318.71 and the NASDAQ composite index dropped 1.58% to 2,759.06. The industries that are still afloat in the market today are: Nonmetallic Mineral Mining: This industry jumped 0.83% by...
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Morgan Stanley Provides Color on Children's Place Retail Stores, Equal-Weight
Monday, May 23, 2011 - 9:27am | 178Morgan Stanley provided color on Children's Place Retail Stores (NASDAQ: PLCE). In a research report published today, Morgan Stanley stressed it believes Children's Place's shares will grow at a faster pace compared to the industry average. In the report, Morgan Stanley states, "We believe the...
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Piper Jaffray Maintains Neutral on AnnTaylor Stores
Monday, May 23, 2011 - 9:12am | 92Piper Jaffray is out with its report on Ann Taylor Stores (NYSE: ANN), maintaining Neutral. In a note to clients, Piper Jaffray writes, "We rate ANN shares Neutral with a $26 price target. Risks include: 1) reliance on key top mgmt, 2) the changing winds of fashion, 3) risk tied to a situation in...
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Earnings Roundup For May 23
Monday, May 23, 2011 - 8:41am | 715Perry Ellis International Inc (NASDAQ: PERY) reported upbeat quarterly results and lifted its earnings guidance for the year. Perry Ellis reported its Q1 net income at $15.4 million, or $0.99 per share, up from $11.2 million, or $0.81 per share, in the year-ago period. Excluding items, PERY's...