|Day's Range||3.02 - 3.23|
Tapestry’s (TPR) strong fourth-quarter results, which the company released on August 14, were followed by several target price increases from Wall Street. Analysts that raised their price targets included the following: Jefferies: $48 to $52 RBC: $53 to $58 Canaccord Genuity: $55 to $63 Credit Suisse: $58 to $61
Tapestry (TPR) delivered better-than-expected results in the fourth quarter of 2018. The management expects earnings per share to lie in the $2.70 to $2.80 range in fiscal 2019 versus analyst forecasts of $2.84 per share. Better-than-expected results and positive guidance boosted Tapestry’s share price on August 14.
Tapestry (TPR) reported a 20% YoY increase in its fourth-quarter 2018 adjusted earnings to $0.60 per share. The company outperformed the consensus earnings expectations by three cents. This was the 18th consecutive quarter of better-than-expected earnings for the company. “We achieved our annual sales and operating income guidance, driving significant growth while earnings per share outpaced our forecast,” said Victor Luis, the CEO of Tapestry.
Handbag maker Tapestry (TPR) reported financial results for the fourth quarter of 2018 on August 14. Its adjusted diluted earnings per share increased 20% YoY (year-over-year) to $0.60, three cents more than the consensus expectations. The management provided an optimistic outlook for fiscal 2019, which also exceeded analyst expectations.
CVS Health (CVS) released its second-quarter results on August 8 before the market opened. The company’s revenues for the quarter grew 2.2% YoY (year-over-year) to $46.7 billion and beat the estimate by 0.8%. CVS Health’s earnings increased 27.1% YoY to $1.6 per share and exceeded the forecast of $1.6 per share.
So far, 91% of the companies in the S&P 500 have reported their third-quarter earnings. Last week was mediocre for the market. The S&P 500 Index (SPY) fell 0.25% for the week ending August 10. Last week was average for most of the sectors in the index.
Michael Kors is going back to its roots for the next model in its ever-expanding Access smartwatch line. The new Runway models still use the old Snapdragon Wear 2100 processor (a bit ill-timed with Qualcomm's next chip on the way), but they won't be hurting for features. On the software side, the Runway has new watch faces that emphasize your heart rate, and you can customize Michael Kors' social-based photo dials with themed stickers.
As discussed in this series, Michael Kors (KORS) did better than the consensus expectations on both the top and bottom lines during the first quarter of 2019. Buoyed by the first quarter results, the management also raised full fiscal 2019 guidance. It raised the upper and the lower end of the earnings guidance by 25 cents and now expects $4.90 to $5.00 in full-year earnings per share.
About 67% of the increase in sales, around $172 million, was due to the contribution from the Jimmy Choo integration. Jimmy Choo exceeded analyst expectations as well as company guidance during the quarter as the brand’s footwear business delivered a strong performance. Revenue from the company’s namesake brand Michael Kors increased 8% YoY during the quarter.
Michael Kors (KORS) stock has been surging ever since the company announced its first-quarter 2019 results on August 8. KORS cruised well ahead of both the top-line and bottom-line expectations during the quarter and also raised its earnings guidance for the full fiscal year. Adjusted earnings per share stood at $1.32, which was $0.37 more than estimates.
IBD 50 stock Canada Goose opened higher Thursday on the heels of a view-topping quarter, as the maker of luxury winter wear and outdoor gear reported relatively hot sales in the summer fiscal first quarter. But the stock fell back to a key level.
The stock market was broadly higher Thursday, as the major indexes neared their record highs. IPO stock Roku broke out past a buy point.
Retail stocks just hit an all-time high, but one market watcher says the group has reached a key juncture.
Michael Kors (KORS) was a big mover last session, as the company saw its shares rise more than 6% on the day amid huge volumes.
Maybelline parent L'Oreal is pairing up with Facebook to roll out virtual tests for shoppers to see how they might look with different lipsticks or eye shadows, adding to its push to drive more sales online and through social media networks. Cosmetics firms including L'Oreal rival Estee Lauder and retailers like LVMH's Sephora are investing heavily in technology, in an age of selfies and beauty bloggers that has helped shift the industry onto the web.
NEW YORK, NY / ACCESSWIRE / August 9, 2018 / While Michael Kors headed higher on a strong first quarter, shares of Papa John’s weren’t as lucky. The company’s guidance looking forward had Wall Street on edge as it cited bad publicity from its fallout with former chairman John Schnatter for the expected weak performance. Papa John's International, Inc. shares closed down 5.19% on Wednesday with almost 7.6 million shares traded.
The Dow Jones Industrial Average dropped 45 points on Wednesday, as the blue-chip benchmark ended a three-day winning streak. Oil took a beating as China announced tariffs on $16 billion of U.S. goods, while Tesla (TSLA) dropped as investors tried to answer many questions that may not have any easy answers. Oh no! China put 25% tariffs on $16 billion of U.S. goods! The market is ending! Or maybe not.
The stock market was mildly lower early Wednesday, as China retaliated with new tariffs on U.S. goods. Michael Kors is breaking out today.
Strong post-earnings moves from CVS Health and Albemarle failed to keep Wednesday's open positive, as tariff retaliation from China pressured early trade.