Fossil Group (FOSL) Announces Misfit Inc. Acquisition Along Side 3Q Miss; Nomura Securities Cuts Price Target to $40

Fossil Group (FOSL) Misses already Negative 3Q Expectations; Piper Jaffray Cuts Price Target to $25

November 13, 2015 8:17 AM EST

Piper Jaffray Reiterated an Underweight rating on Fossil (NASDAQ: FOSL), and cut the price target to $25.00 (from $46.00), following a negative 3Q. Results for the company's 3Q came in below the already negative expectations. FOSL reported Q3 sales down 14% Y/Y to $771M, below the Street at $795M. Q3 EPS was $1.19... More

Fossil's (FOSL) Price Target Slashed to $33 at BofA/Merrill Lynch

November 13, 2015 7:51 AM EST

BofA/Merrill Lynch maintained an Underperform rating on Fossil (NASDAQ: FOSL) and lowered its price target to $33.00 (from $51.00). 2015, '16, '17 EPS estimates were lowered to $4.35, $3.25, and $3.94, respectively (from $5.24, $5.12, $5.51). The change follows disappointing Q3 results.

Analyst said they were maintaining their Underperform rating on... More

Fossil (FOSL) Best in Class but the Class is Shrinking - Cowen

November 13, 2015 7:44 AM EST

Cowen analyst, Oliver Chen, published a note on Fossil (NASDAQ: FOSL) following results noting the worrisome state of watches.

Mgmt commented that traditional watch category growth remains sluggish as smartwatches/wearables continue to disrupt the space, while tough compares from outsized success of the Michael Kors brand also weighed on FOSL's performance in 3Q. In wholesale, mgmt noted trends were down y/y, largely driven by continued softness at... More

Wall Street drops, posts worst week since August

November 13, 2015 7:36 AM EST

By Noel Randewich

(Reuters) - Wall Street fell sharply on Friday and capped off its worst week since the dark days of August, hurt by a selloff in technology companies, while department stores dropped on concerns about the upcoming holiday shopping season.

After the bell, U.S. stock index futures hit session lows in light volume, with market participants citing concerns over reports of deadly attacks in Paris.

"The geopolitical aspect is always out there, and anything that brings that back into the headlines will pull the buy orders fairly quickly," said Alan Lancz, president, Alan B.... More

Fossil (FOSL) PT Cut to $44 at Mizuho

November 13, 2015 6:56 AM EST

Mizuho Securities analyst Betty Chen reiterated a Neutral rating and lowered her price target on Fossil (NASDAQ: FOSL) to $44.00 (from $60.00) following lower guidance and the Misfit acquisition.

Chen commented, "We remain sidelined on shares of FOSL given a bleak outlook as headwinds from: (1) wearables... More

After-Hours Movers 11/12: (LPCN) (BUFF) (YUM) (CWEI) Higher; (JWN) (PRTY) (FOSL) (CSCO) Lower (more...)

November 12, 2015 6:36 PM EST

Nordstrom (NYSE: JWN) 20% LOWER; reported Q3 EPS of $0.42, may not compare the analyst estimate of $0.72. (This included a reduction in earnings per diluted share of $0.15, which primarily represented transaction costs associated with the closing of its credit card portfolio sale.) Revenue for the quarter came in at $3.2 billion versus the consensus estimate of $3.37 billion. The Company said its third quarter performance was below Company expectations, reflecting softer sales trends that were generally consistent across channels and merchandise categories. Total Company net sales increased 6.6 percent and comparable sales increased... More

Market Wrap: Energy Stocks Lead Markets Lower; SunEdison Hit Amid Analyst Concerns; Cisco Pressured on Soft Outlook

November 12, 2015 5:32 PM EST

Market wrap for November 12th

End of the Day: S&P 500 down 29.0 to 2,045.97; Dow Jones down 254.2 to 17,448.07; Nasdaq down 61.9 to 5,005.08

Market Brief: SunEdison fell following an analyst downgrade and commentary today.

Energy stocks led the broader markets lower once again Thursday.

Illumina is joining the S&P 500.

MannKind ended a day of active trading following pricing of an equity raise announced Wednesday.

Crude slipped 2.7 percent to $41.75 per barrel and gold edged 0.4 percent lower to $1,081 per ounce.

* Cisco Systems... More

Fossil Group (FOSL) Tops Q3 EPS by 6c; Enters Agreement to Acquire Misfit

November 12, 2015 4:04 PM EST

Fossil Group (NASDAQ: FOSL) reported Q3 EPS of $1.19, $0.06 better than the analyst estimate of $1.13. Revenue for the quarter came in at $771 million versus the consensus estimate of $793.72 million.

Guidance:

Fossil Group sees FY2016 EPS of $5.60-$6.20, versus the consensus of $5.32.

Acquisition:

Fossil also announced that it has entered into a definitive agreement to acquire Misfit, Inc., an innovator in wearable technology and stylish connected devices. The acquisition will enable Fossil Group to expand its addressable market, offering consumers both traditional timepieces and fashionable connected accessories. Misfit brings to... More

Trading Radar for 11/12: Cisco (CSCO), Viacom (VIAB), Himax (HIMX), Planet Fitness (PLNT), Fossil (FOSL) Report

November 11, 2015 3:47 PM EST

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Economics:
8:30am EST

Initial Claims - Street sees 269kContinuing Claims - Street sees 2.155M

Earnings:

500.com Ltd. (NYSE: WBAI) - consensus loss $0.07
AdCare Health Systems (NYSE: ADK) - no Street consensus
Advance Auto Parts (NYSE: AAP) - consensus EPS $2.09
Air Industries Group (NYSE: AIRI) - consensus EPS $0.09
Aldeyra Therapeutics (Nasdaq:... More

Macy's cuts full-year forecast, sends shivers through retail

November 11, 2015 8:08 AM EST

(In Nov. 11 story, corrects spelling of Michael in paragraph 4)

By Nandita Bose and Sruthi Ramakrishnan

(Reuters) - Warm weather, low spending by tourists and a pileup of unsold inventory prompted Macy's Inc (NYSE: M) to cut its full-year forecast on Wednesday, raising wide concerns about the retail sector's financial health.

Macy's in a quarterly report also said it would not create a real estate investment trust for its stores, disappointing some investors and helping to push down shares 14 percent for the day.

The long spell of warm weather in... More