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Wall Street Strategies Reiterates Gap Sell, Lowers PT To $17
Friday, May 20, 2011 - 2:16pm | 145Wall Street Strategies reiterated its Gap (NYSE: GPS) Sell rating and lowered its Gap price target from $20 to $17 in a research report published today. In the report, Wall Street Strategies states, "The attributes of a horrific quarter from a retailer tends to start with poor sales due to product...
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Zumiez Rises 7% After Earnings
Friday, May 20, 2011 - 1:51pm | 70Shares of Zumiez (NASDAQ: ZUMZ) have surged around 7% on Friday after reporting strong earnings. The company reported EPS of $0.06 compared to a loss of $0.06 per share in the year ago period. This compared to analysts' consensus EPS estimates of $0.02. Zumiez Inc. (Zumiez) is a mall-based...
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American Eagle Falls 7% (AEO)
Friday, May 20, 2011 - 1:22pm | 78Shares of American Eagle Outfitters (NYSE: AEO) are down more than 7% on Friday after terrible earnings from the Gap (NYSE: GPS) and Aeropostale (NYSE: ARO). Volume has been heavy with around 11.6 million AEO shares compared to a 3-month daily average of 2.2 million. American Eagle Outfitters,...
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Gap Now Down Almost 18%
Friday, May 20, 2011 - 11:56am | 60The Gap Inc. (NYSE: GPS) shares are plunging today, losing more than 17% to $19.21, a loss of $4.08 after the clothing retailer severely cut its annual guidance for the rest of 2011. The company lowered its 2011 guidance to $1.40 to $1.50 per share, well below the $1.88 per share that the company...
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Options Brief: AnnTaylor Stores Corp.
Friday, May 20, 2011 - 11:07am | 100Shares of AnnTaylor Stores Corp. (NYSE: ANN) are lower on the session by 4.10%, trading at $28.78. Overall put volume is now running at 7.07x the daily average, with 6% of all puts traded being purchases on the offer. 7,353 contracts have traded on the session so far. AnnTaylor Stores Corp.,...
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Earnings Roundup For May 20
Friday, May 20, 2011 - 10:32am | 598E-Commerce China Dangdang Inc (NYSE: DANG) reported a 203.6% surge in its net income for the first quarter on Friday. Dangdang reported its net income at RMB3.1 million ($0.5 million). Its total net revenue rose 53.5% y/y to RMB687.6 million ($105.0 million). DANG's adjusted EBITDA rose 27.7% y/y...
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Wedbush Lowers Price Target On Aeropostale
Friday, May 20, 2011 - 8:58am | 148According to Wedbush, Aeropostale (NYSE: ARO) has a new lower $20 price target. Wedbush said that with Q2 guidance below consensus as we anticipated, it expects the stock to remain under pressure in the near-term as management indicated that product issues will likely persist through Q2. “Noting...
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Wedbush Maintains Neutral Rating On Zumiez
Friday, May 20, 2011 - 8:54am | 158According to Wedbush, Zumiez (NASDAQ: ZUMZ) price target is $28. Wedbush said that despite BTE Q1 results, it believes the stock will remain range-bound given management's likely conservative Q2 guidance and even tougher compares in H2. “Given management's plans to continue expanding the store...
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Wedbush Lowers Price Target On Gap
Friday, May 20, 2011 - 8:40am | 139According to Wedbush, Gap (NYSE: GPS) price target is lowered to $19. Wedbush said that management reduced F11 guidance to below consensus levels alluding to a combination of challenging sales trends and unexpectedly high product costs in H2. “Specifically, management cited ~20% AUC increases in...
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UPDATE: Ann Reports Upbeat Q1 Profit
Friday, May 20, 2011 - 8:32am | 85Ann Inc (NYSE: ANN) released its results for the first quarter on Friday. Ann's quarterly profit surged to $27.3 million, or $0.51 per share, from $22.6 million, or $0.38 per share, in the year-earlier period. Its sales surged to $523.6 million from $476.2 million. However, analysts were...
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UPDATE: Stifel Nicolaus Downgrades Aeropostale to Hold
Friday, May 20, 2011 - 8:32am | 84Stifel Nicolaus is out with its report today on Aeropostale (NYSE: ARO), downgrading ARO to Hold. In a note to clients, Stifel Nicolaus writes, "We anticipate the fashion missteps during the 1H will likely continue into 2H with rising sourcing costs further exasperating a difficult situation. We...
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Citi Lowers Estimates On Aeropostale
Friday, May 20, 2011 - 8:28am | 88According to Citi, Aeropostale (NYSE: ARO) estimates are lowered. Citi said that assortment issues continue to require heavier markdowns at ARO and resulted in a sharp reduction in 2Q consensus on the heels of the company's recent 1Q revision. “The issue is centered on women's product, and more...
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Benzinga's Top Downgrades
Friday, May 20, 2011 - 8:24am | 140Analysts at Cowen downgraded Take-Two Interactive Software Inc (NASDAQ: TTWO) from “neutral” to “underperform.” TTWO's shares closed at $17.41 yesterday. TTWO's PEG ratio is 1.56. Analysts at Piper Jaffray downgraded Gap Inc (NYSE: GPS) from “overweight” to “neutral.” GPS' shares closed at $23.29...
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Piper Jaffray Raises PT To $6 On WTSLA
Friday, May 20, 2011 - 8:17am | 159Piper Jaffray has raised its price target on The Wet Seal (NASDAQ: WTSLA) from $5 to $6 based on solid FQ1 results. In its report, Piper Jaffray writes, “We are encouraged by strong business trends at WTSLA and are moving our price target from $5 to $6 following the company's FQ1 earnings report....
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Morgan Stanley Reiterates Underweight on Aeropostale
Friday, May 20, 2011 - 8:11am | 148Morgan Stanley reiterated its Underweight rating on Aeropostale (NYSE: ARO) after the company missed its Q1 targets. In a research report published today, Morgan Stanley states, "ARO's 1Q11 EPS was inline with lowered expectations, but the company's 2Q11 outlook was a considerable miss vs....