CEO: Guides FY14 SSS 4.6%; housing market remains a modest tailwind for our business, saw an acceleration of big-ticket spending in the quarter - conf call
- SSS growth to be 80 bps higher in the second half than in the first half of 2014
- Price appreciation continues, to continue in the second half of the year, is a positive for our business.
- Web sales +38% y/y
- To repurchase $3.5 billion of stock in the balance of the year, for total 2014 stock repurchases of $7.0 billion
BREAKING: Israeli military says a number of rockets have been fired from Gaza Strip, breaking cease-fire.
UBS cuts Brazil 2014 and 2015 GDP growth forecasts
- Cuts 2014 GDP growth forecast from 1.2% to 0.6%
- Cuts 2015 GDP growth forecast from 1.8% to 1.5%
- Does not expect any investment recovery anytime soon
Euro hits fresh 2014 low below 1.3330; electing sell stops - There were reports of option barriers layered through 1.3300 area
Shares of Tesla Motors Inc.TSLA -0.80% have rallied to yet another series of fresh records, but options traders aren’t betting on continued big moves in the day-trader favorite.
Tesla hit new record highs every day last week. Shares gained steam after Deutsche Bank upgraded the company, noting the electric-car maker’s prospects for stronger-than-expected growth in the next few years.
That rally ended Monday. Shares opened higher but fell throughout the day, closing down 0.8% to $259.94. Tesla shares have gained about 16% this month and have surged about 73% in 2014 through Monday’s close.
However, Tesla’s 30-day implied volatility on Monday was near its lowest level since March 2013, according to Livevol Pro data. Implied volatility is a gauge of future volatility that is derived from options prices, and the decline in the measure indicates options traders aren’t betting on as sharp a move in the underlying stock in the next 30 days as they have over the past few months.
The two most active options on Monday were weekly call options that would grant the holder the right to buy Tesla stock if shares rose above $265 and $270, respectively, through the end of the week.
The $265 and $270 call options were likely being unloaded Monday by traders who were unwinding earlier bets that the stock would reach those levels by Friday, said Andrew Wilkinson, chief market analyst at Interactive Brokers.
“They just don’t see the stock leaping that far that quickly,” he said.
Tesla shares have a history of big swings. Tesla’s shares jumped about 83% between January 13, which marked the 2014 low, and March 4, nearly doubling in less than two months.
Elizabeth Arden misses by $0.66, misses on revs; expects modest improvement in FY15 EPS; announces Rhone Capital have agreed to purchase $50 mln of redeemable preferred stock
Reports Q4 (Jun) loss of $1.04 per share, excluding non-recurring items, $0.66 worse than the Capital IQ Consensus Estimate of ($0.38); revenues fell 28.4% year/year to $191.7 mln vs the $241.64 mln consensus.
- While the Company had expected weaker sales comparisons due to the lower level of fragrance launch activity in fiscal 2014 versus fiscal 2013, the decline in sales of celebrity fragrances, particularly the Justin Bieber and Taylor Swift fragrances, was steeper than anticipated. The inventory destocking at a number of non-prestige customers that impacted the Company's 2014 third fiscal quarter results continued through the fourth quarter of fiscal 2014 and led the Company's shipments to be below the rate of retail sales.
- Outlook Details: Fiscal 2015 will be focused on stabilizing the business and will be the first year of a multi-year plan to rebuild profitability. The Company expects a modest improvement in adjusted earnings for fiscal 2015 (FY14 Actual: ($0.55)... FY15 Capital IQ consensus $0.93) over the prior year with continued improvement in fiscal 2016.
- Strategic Investment by Rhone Capital: Rhone Capital agreed to purchase $50 million of redeemable preferred stock of the Company and also will receive warrants to purchase 2.5 million shares of the Company's common stock at an exercise price of $20.39 per share, representing approximately 7.6% of the Company's outstanding common stock on an as-exercised basis.
Gapping down
In reaction to disappointing earnings/guidance: RDEN -19.4%, BHP -3.4%, (also discloses plans for demerger of selection of assets to simplify portfolio) JMEI -2.7%, PWRD -1.6%.
Other news: ONTY -18.7% (disclosed that Phase 1/2 study of tecemotide in patients with lung cancer did not meet its primary endpoint, no treatment effect seen in secondary endpoints), RIO -1.6% (in sympathy with BHP), PCYC -1.5% (appointed Shawn Cline Tomasello as Chief Commercial Officer), CLR -0.8% (Board declared a 2:1 stock split to be issued in the form of a stock dividend),SLXP -0.8% (Announces Early Termination of HSR Waiting Period for Pending Transaction), S -0.7% (plans to introduce $100 family plan, according to reports).
Analyst comments: LOCO -5.2% (initiated with a Underweight at Morgan Stanley, also initiated with a Hold at Jefferies, initiated with a Neutral at Robert W. Baird), SCTY -1.7% (downgraded to Neutral from Outperform at Robert W. Baird), CEO -0.9% (downgraded to Hold from Buy at Jefferies).
In reaction to disappointing earnings/guidance: RDEN -19.4%, BHP -3.4%, (also discloses plans for demerger of selection of assets to simplify portfolio) JMEI -2.7%, PWRD -1.6%.
Other news: ONTY -18.7% (disclosed that Phase 1/2 study of tecemotide in patients with lung cancer did not meet its primary endpoint, no treatment effect seen in secondary endpoints), RIO -1.6% (in sympathy with BHP), PCYC -1.5% (appointed Shawn Cline Tomasello as Chief Commercial Officer), CLR -0.8% (Board declared a 2:1 stock split to be issued in the form of a stock dividend),SLXP -0.8% (Announces Early Termination of HSR Waiting Period for Pending Transaction), S -0.7% (plans to introduce $100 family plan, according to reports).
Analyst comments: LOCO -5.2% (initiated with a Underweight at Morgan Stanley, also initiated with a Hold at Jefferies, initiated with a Neutral at Robert W. Baird), SCTY -1.7% (downgraded to Neutral from Outperform at Robert W. Baird), CEO -0.9% (downgraded to Hold from Buy at Jefferies).
Gapping up
In reaction to strong earnings/guidance: CMCM +7.8%, PDLI +5.4%, DKS +4.8%, AMWD +3.9%, HD +3.8%, URBN +0.9%.
M&A news: SKH +37.2% ( to combine with Genesis HealthCare in 100% stock transaction).
Select alt energy related names showing strength: YGE +2.8%, FCEL +1.9%, JASO +1.4%, KNDI +1.3%, TSL +1.3%, CSIQ +1.3%, FSLR +0.6%.
Other news: TROV +5.9% (continued strength), JRJC +4.6% (extending yesterday's 75%+ move higher), RAX +3.4% (+3.6% Blue Harbour Group confirmed a 6.4% active stake in 13D filing), LOW +2.4% (in sympathy with HD earnings), TASR +2.2% (Petition on White House website for wearable camera by law enforcement gaining steam, according to reports), MPEL +2% (peer Galaxy Ent reported earnings), CTSH +1.6% (Lone Pine Capital disclosed a 5.3% passive stake in 13G filing), ACHN +1.5% (cont strength), WPX +1.2% (announced it has executed multiple agreements; to sell its remaining mature, coalbed methane holdings in the Powder River Basin for $155 mln in cash), RRC +1% (positive comments on Mad Money), AFG +0.9% (increased annual dividend 14% to $1.00 from $0.88 per share).
Analyst comments: JAZZ +1.6% (initiated with a Overweight at JP Morgan)
In reaction to strong earnings/guidance: CMCM +7.8%, PDLI +5.4%, DKS +4.8%, AMWD +3.9%, HD +3.8%, URBN +0.9%.
M&A news: SKH +37.2% ( to combine with Genesis HealthCare in 100% stock transaction).
Select alt energy related names showing strength: YGE +2.8%, FCEL +1.9%, JASO +1.4%, KNDI +1.3%, TSL +1.3%, CSIQ +1.3%, FSLR +0.6%.
Other news: TROV +5.9% (continued strength), JRJC +4.6% (extending yesterday's 75%+ move higher), RAX +3.4% (+3.6% Blue Harbour Group confirmed a 6.4% active stake in 13D filing), LOW +2.4% (in sympathy with HD earnings), TASR +2.2% (Petition on White House website for wearable camera by law enforcement gaining steam, according to reports), MPEL +2% (peer Galaxy Ent reported earnings), CTSH +1.6% (Lone Pine Capital disclosed a 5.3% passive stake in 13G filing), ACHN +1.5% (cont strength), WPX +1.2% (announced it has executed multiple agreements; to sell its remaining mature, coalbed methane holdings in the Powder River Basin for $155 mln in cash), RRC +1% (positive comments on Mad Money), AFG +0.9% (increased annual dividend 14% to $1.00 from $0.88 per share).
Analyst comments: JAZZ +1.6% (initiated with a Overweight at JP Morgan)