>>> US Gapping down

Gapping down

In reaction to disappointing earnings/guidance: DNB -15.2% (also Josh Peirez has been promoted to Chief Operating Officer, Co raises quarterly dividend by 10% to $0.44), PSMI -10.5%, (downgraded to Neutral from Overweight at JP Morgan), AFOP -9.9%, FN -7.7%, TTWO -6.7%, ARMH -5.2%, EW -3.7%, ACI -3.7%, TM -1.3%(also plans to sell Indonesian-made compact in Philippines, according to reports), BP -1.1%, BSX -0.8%, SIRI -0.6%, AGNC -0.3%.

M&A news: ARTC -2.7% (ArthroCare counterbid not liklely, according to NYTimes.com story).

A few oil/gas related names showing early weakness: SNP -1.3%, CEO -1.3%, HP -1% (Helmerich & Payne downgraded to Underperform from Neutral at Credit Suisse)CNQ -0.6%, RIG -0.5%, WLL -0.4%.

Other news: ABIO -11.7% (intends to offer and sell common stock and warrants in a public offering), JRCC -10.1% (seeing continued weakness following reports that the co hired debt advisor), HALO -5% (announces public offering Of $100 mln of its common stock), CPHD -5% (proposes to offer $250 mln principal amount of Convertible Senior Notes due 2021), CTIC -4.8% (still checking),GOLD -2% (following exec comments towards African mining countries), HLF -1.4% (following 4+ point move higher; prices offering of $1 bln aggregate principal amount of convertible senior notes due 2019; the Convertible Notes will pay interest semiannually at a rate of 2.00% per annum and upon conversion will be settled in cash, enters into amendment relating to its $500 mln senior term loan and $700 mln senior revolving loan credit facility ), AIXG -1.3% (following ARMH results), PACD -1% (provides fleet status report and revenue efficiency guidance: Sees FY14 Operating Fleet Average Revenue Efficiency of 90-94%).

Analyst comments: TTWO -6.1% (downgraded to Neutral from Outperform at Wedbush).

>>> US Gapping up

Gapping up

In reaction to strong earnings/guidance: NLST +24.6%, KORS +18.7%, WSTL +7.7%, IPHI +6.4% (light volume), KFX +6% (thinly traded), ITUB +5.7%, POWI +5.6%, UBS +5.6%, IDTI +5.2%, (light volume), JCP +4.6%, (reported comparable store sales for Nov/Dec +3.1% and Q4 +2%), YUM +4.3%, LIOX +3.8%, HOLX +3.1%, RTEC +3%, AEIS +2.8%, HIG +2.4%, UNIS +1.4%, NUS+0.9%, APC +0.5% ( also provides Tronox-Related Contingent Liability update), .

M&A news: ATMI +26.1% and ENTG +4.6% ( Entegris to Acquire ATMI for $34/share in cash; ENTG sees deal immediately accretive), S +1.9% (Regulators uncertain of passing any potential merger of Sprint and T-moblie, according to reports).

Other news: FURX +76.2% (announces positive top-line results of two pivotal Phase III clinical trials of eluxadoline in patients with IBS-d; studies meet FDA and EMA primary endpoints), NURO +8.7% (announces broad SENSUS Distribution Agreement with DJO Global), DXCM +5.7% (FDA approves pediatric use of Dexcom's G4 platinum continuous monitoring system), AEZS +4.1% (Article on Phase 2 Results for Zoptarelin Doxorubicin in endometrial cancer published; Data showed that zoptarelin doxorubicin has clinically meaningful activity with low toxicity in women with advanced or recurrent LHRH receptor positive endometrial cancer), GILT +3.7% (Gilat Satellite disclosed notice received from FIMI - will purchase from York additional 2,106,121 ordinary shares of Gilat at a price of $5 per share), ACT +3.1% (still checking), MBT +3% ( raises dividend guidance and affirms growth in core markets at 2014 investor day), FTR +2.9% ( begins Regulatory Approval Process to Acquire AT&T Wireline, Broadband and Video Operations in Connecticut), ALU +2.9% and NOK +0.9% (still checking for anything specific), TTM +2.8% (following auto sales reported by several companies yesterday), LL +2.6% ( S.A.C. Capital discloses 5.0% passive stake in 13G filing ), GOGO +2.4% (still checking), TWTR +1.8% (still checking), BWLD +1.3% (following YUM results), ILMN +0.7% (disclosed its Board of Directors authorized up to $250.0 mln to repurchase shares), WEN +0.5% ( favorable comments on Mad Money), GOOG +0.4% ( S&P Dow Jones Indicies announces treatment of Google stock split in the S&P 100 and S&P 500), AAPL +0.4% (is ramping up its internet infrastructure network, according to reports ), WFM +0.2% and SWY +0.1% (Whole Foods confirms it Acquired Seven Dominick's Leases from Safeway)

Analyst comments: ZNGA +5.6% (upgraded to Buy from Neutral at UBS), ANGI +2.9% (upgraded to Outperform from Mkt Perform at Barrington Research), OPEN +2.8% (upgraded to Neutral from Sell at Citigroup), RMBS +1.6% (added to Focus List at Citigroup), GPS +1.2% (upgraded to Buy from Neutral at UBS), GILD +1.2% (upgraded to Outperform at Robert W. Baird; tgt raised to $103 on overwhelmingly positive Rx trends ), PFE +1% (upgraded to Buy from Hold at Jefferies), CVX +0.8% (upgraded to Strong Buy from Outperform at Raymond James), MRK +0.3% (Merck upgraded to Buy from Neutral at SunTrust)

>>> Coach New Collection from New Designer is going to be unveil soon

Stock is trading not far from support, Michael Kors Numbers were very good, stock is up 15% ion Pre-Market...


WWD Article : Stuart Vevers Ready to Unveil First Coach Collection

All eyes are on Stuart Vevers this fashion week. But Coach’s new executive creative director, who is set to unveil his first collection for the American leather goods house on Thursday, seems anything but nervous.

During an exclusive preview at Coach’s West 34th Street headquarters in New York, Vevers exuded calm, articulating his vision for a new Coach with confidence. The latter may be the result of his experience at Loewe, Louis Vuitton, Bottega Veneta and Mulberry; $5.08 billion Coach’s extensive resources could have also contributed to Vevers keeping a certain cool.

“I never even thought about it as changing,” he said of his first impressions after his start in October, “but more as coming in, starting the research, thinking about what it should be, not so much what it was. That’s the opportunity you have when you come in fresh.”

In four months, the designer pulled together the new direction for the brand, which he hopes the fall women’s collection will crystallize. It features a full apparel lineup — outerwear being a focus — and a new, younger vibe for Coach’s accessories assortment.

Much of the concept was already taking form during the process of interviewing for the job via several mood boards Vevers presented. “One was product, one was the brand and one was taking brand and turning it upside down,” he recalled.

If there was an added pressure to turn around Embedded link Coach’s less-than-stellar recent financial results, particularly in the North American market, Vevers doesn’t show it. His version of Coach, he said, demonstrates ease and an urban feel. There are references to the brand’s history — Bonnie Cashin the most obvious one for the ready-to-wear — but Vevers was keen not to be too referential when it came to the company’s archives.

“It showed me that as great as an archive is, you need to glance at it and then move away,” he noted. “When I started to receive these things that were playing off the archives, they just didn’t look contemporary enough. That helped me realize very quickly what I wanted to start playing with, which was taking the references of the brand as I had seen it...and New York, its energy and youthful, urban quality.”

Vevers’ designs are for “a new tribe: who the Coach girl could be? Whenever I go downtown or to Brooklyn, I always see girls carrying Coach bags, which just happen to be the vintage ones. So to me, it’s about how to engage with that next generation.

“Coach was started here in 1941 in a little studio,” he added. “This city and this ease to me just says ‘cool.’ I know that’s a vague word, but to me it means urban, ease, effortless, not trying too hard but taking risks.”

Muses range from Dree Hemingway to more cinematic ones like Shelley Duvall in “The Shining” and Sissy Spacek in “Badlands.” For fall, Vevers also looked to the work of fine arts photographer Joel Sternfeld, which informed the deep winter palette and will play a central role in the fashion week installation.

The rtw will premiere in about 30 Coach stores. Much of it captures a workwear vibe. Some coats are rendered in sheepskin; typically American references include varsity jackets and a knitted sweater with a motif of Apollo One. “It’s the American dream,” he said.

The bags, too, read less standard classics and more fashiony. Vevers considers several pieces as potential signature styles, including the Rhyder, a black pebble leather bag with a burnt orange suede pocket. Gone are hefty logo treatments; in their place, a subtle horse and carriage motif placed on bags.

For shoes, he honed in on boots and sneakers, many with wedge heels and platform soles, and shearling linings. The fashion week presentation will focus on these more directional pieces; a fuller selection was shown internally last month.

The outerwear is priced at retail from $495 to $2,995; handbags range from $198 to $1,500, with the new “Rhyder” style available from $350 to $1,300.

The collection is the first step in the brand makeover. “We are in the early stages of a multiyear journey,” said Victor Luis, Coach Inc.’s chief executive officer. “We have, in our stores, recently relaunched footwear in a broader way. We had very good success with the Borough collection, and of course, more recently we also had very good success with our men’s. All of that points to our strategy of evolving Coach from a woman’s handbag and accessories brand to a broader lifestyle one that is still very much anchored in accessories. From the creative direction, this is very much chapter one for Stuart.”

That chapter will inform both advertising and a new store concept, expected to be unveiled this fall. Although Luis declined to disclose details, he said it is being developed with “well-known” retail architect.

He said there was no added pressure on Vevers and his team because of the recent financial results. Last month, the company reported that net income for the quarter ended Dec. 28 fell to $297.4 million from $352.8 million a year ago. Net sales fell 5.6 percent to $1.42 billion from $1.50 billion. For the six months, net income fell 10.2 percent to $515.3 million on a net sales decline of 3.6 percent to $2.57 billion.

“We have an obligation, of course, to our shareholders, and also are very cognizant of the fact that we are on a multiyear journey,” he said. “We have a very clear vision and, as a leadership team, are very focused now on executing this vision.”

Elaborating on the vision, Vevers pointed to his background in European luxury. “I spent my whole time in the ateliers there from Bottega, Vuitton, Loewe, and what appealed to me about Coach was that it’s different, and I wanted to make a real statement about the fact that I don’t want to do the same thing,” he said. “I want Coach to be a genuine authentic alternative…almost imagining a girl starting in New York and going on a trip around the world, and picking these things up along the way and ending up back in New York.”

(BFW) Scania Minority-Investor Group to Seek Inspector on VW’s Role

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BN 02/04 12:31 Scania Minority-Investor Group to Seek Inspector on VW’s Role

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Scania Minority-Investor Group to Seek Inspector on VW’s Role 2014-02-04 12:33:50.189 GMT

By Christoph Rauwald and Niklas Magnusson

Feb. 4 (Bloomberg) --Scania will face a demand for an auditor to look into whether ownership by the German carmaker and its MAN SE division poses a conflict of interest, a minority-shareholders group said. Story Link:NSN N0H1FZ6JTSEQ<GO>

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

--Editor: James Ludden

To contact the reporter on this story: Brian Lysaght in London at +44-20-7330-7908 or blysaght@bloomberg.net

To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net

>>> Michael Kors beats by $0.25, beats on revs; guides Q4 EPS in-line, revs abov

Michael Kors beats by $0.25, beats on revs; guides Q4 EPS in-line, revs above consensus; guides FY14 EPS above consensus, revs above consensus

Reports Q3 (Dec) earnings of $1.11 per share, $0.25 better than the Capital IQ Consensus Estimate of $0.86; revenues rose 57.0% year/year to $1 bln vs the $0.86 bln consensus. Comparable stores sales increased 28%.
Retail net sales increased 50.0% to $1.2 billion.
Wholesale net sales increased 51.7% to $1.1 billion and licensing revenue increased 56.1% to $104.9 million.
Licensing segment, revenue increased 59%, with continued demand in watches and eyewear.
Gross profit for the first nine months increased 54.3% to $1.5 billion, and as a percentage of total revenue increased to 61.3% as compared to 60.0% in the same period of fiscal 2013.
Region
Revenue in North America grew 51% and comparable store sales increased 24%, with performance driven primarily by accessories and watch offerings.
In Europe, revenue grew 144% in the third quarter, with exceptional comparable store sales growth of 73%, driven by growing brand awareness and demand across regions.
Guidance
Co issues mixed guidance for Q4, sees EPS of 0.63-0.65 vs. $0.65 Capital IQ Consensus Estimate; sees Q4 revs of $790-800 mln vs. $786.49 mln Capital IQ Consensus Estimate. Co issues upside guidance for FY14, sees EPS of $3.07-3.09 vs. $2.83 Capital IQ Consensus Estimate; sees FY14 revs of $3.18-3.19 bln vs. $3.03 bln Capital IQ Consensus Estimate.

>>> Delphi Automotive beats by $0.07, beats on revs; guides Q1 EPS below consens

Delphi Automotive beats by $0.07, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY14 EPS in-line, revs in-line 

Reports Q4 (Dec) adjusted earnings of $1.12 per share, $0.07 better than the Capital IQ Consensus Estimate of $1.05; revenues rose 11.0% year/year to $4.18 bln vs the $4.11 bln consensus.

Guidance:
Q1 - Co issues downside guidance for Q1, sees adj EPS of $1.04-1.08 vs. $1.18 Capital IQ Consensus Estimate; sees Q1 revs of $4.2-4.3 bln vs. $4.34 bln Capital IQ Consensus Estimate.
FY14 - Co issues in-line guidance for FY14, sees adj EPS of $4.70-4.95 vs. $4.90 Capital IQ Consensus Estimate; sees FY14 revs of $17.2-17.6 bln vs. $17.45 bln Capital IQ Consensus Estimate.

Share Repurchase Program update
During the fourth quarter of 2013, Delphi repurchased 1.69 million shares for ~$95 million under its existing $750 million share repurchase program, leaving approximately $190 million available for future share repurchases under this program.