Piper Jaffray Cuts Price Target on Fossil Group (FOSL) Following Michael Kors (KORS) Q4 Results

Canaccord Genuity Cuts Price Target on Michael Kors (KORS) Following Q4

Canaccord Genuity maintains a Hold rating on Michael Kors (NYSE: KORS), and cuts the price target to $48.00 (from $63.00), following Q4 earnings results. KORS reported weak Q4 comps -5.8% vs. Cannaccord's +4% estimate.

Analyst Camilo Lyon commented, "KORS' weak Q4 comps (-5.8% vs. our +4%) and a subsequently weaker F2016 outlook ($4.40-$4.50 vs. our $4.59 est) underscore the concern we have been highlighting -- the lost luster of the brand due... More

Oppenheimer Cuts Price Target Following Michael Kors (KORS) Q4 Results

Oppenheimer maintains a Perform rating on Michael Kors (NYSE: KORS), and cuts the price target to $52.00 (from $80.00), following Q4 results. Analyst Anna Andreeva says "Continue to avoid KORS, prefer COH."

Andreeva commented, "KORS story is rapidly changing with first... More

Piper Jaffray Cuts Price Target on Michael Kors (KORS) Following Q4 Miss

Piper Jaffray maintains a Neutral rating on Michael Kors (NYSE: KORS), and cuts the price target to $47.00 (from $64.00), following Q4 results. Analyst Erinn Murphy lowered estimates below FY16 guidance after a Q4 miss.

Murphy commented, "We are reiterating our Neutral and... More

Telsey Downgrades Michael Kors (KORS) to Market Perform

Telsey downgraded Michael Kors (NYSE: KORS) from Outperform to Market Perform with a price target of $50.00 (from $84.00).

For an analyst ratings summary and ratings history on Michael Kors click here. For more ratings news on Michael Kors click here.

Shares of Michael Kors closed at $45.93 yesterday.

UPDATE: Goldman Sachs Downgrades Michael Kors (KORS) to Neutral

(Updated - May 28, 2015 9:36 AM EDT)

Goldman Sachs downgraded Michael Kors (NYSE: KORS) from Buy to Neutral with a price target of $50.00 (from $93.00). Analyst Lindsay Drucker Mann noted the deterioration since mid-February was an 'outlier' in retail, suggesting underlying brand weakness.

"The speed of deterioration since mid-February is an outlier vs. other retailers,... More

Sterne Agee CRT Lowered Price Target Following Michael Kors (KORS) Q4 Results

Sterne Agee CRT maintains a Neutral rating on Michael Kors (NYSE: KORS), and cut the price target to $58.00 (from $72.00), following Q4 results. KORS reported EPS of $0.90 (vs consensus on $0.91). For Q1, management is projecting EPS of $0.74 to $0.78 (well below the Street's $1.02 estimate).

Analyst... More

Market Wrap: Broadcom, Avago in M&A Speculation; Kors' 'Unfashionable' Q4, Outlook; McDonald's to Trim-Back Data

End of the Day: S&P 500 up 19.3 to 2,123.48; Dow Jones up 121.5 to 18,162.99; Nasdaq up 73.8 to 5,106.59

Market Brief: U.S. markets largely rose Thursday led by the technology sector, which rose 1.2 percent on the session.

Greece and its creditors were said to begin drafting a final agreement, though there is some speculation by at least one finance minister that the country will be able to close a deal... More

Notable 52-Week Highs and Lows 5/27: (OCLR) (DE) (RTRX) High; (KORS) (FOSL) (GBIM) Low

52-Week High:Oclaro, Inc. (Nasdaq: OCLR) $2.44. Oclaro melting higher Wednesday following two insider trades disclosed Tuesday night. Directors Joel Smith and Marissa Peterson purchased 10,000 shares and 75,000 shares of OCLR, respectively, on May 22nd.

Deere & Company (NYSE: DE) $94.88. Deere continuing higher from Q2 results reported late last week. Shares are now up 6.1 percent from a close at $89.46 on May 21st.

Retrophin (Nasdaq: RTRX) $30.14.... More

Unusual 11 Mid-Day Movers 5/27: (CERE) (ATRM) (HYGS) Higher; (GBIM) (KORS) (MOLG) Lower

Ceres (Nasdaq: CERE) 113.7% HIGHER; was awarded a U.S. patent for a genetic sequence derived from soybean, covering uses of the gene in areas such as research, product development and plant transformation. The company believes that its gene is useful in regulating key biosynthetic processes that are the target of a class of commercial herbicides. Ceres plans to offer other seed companies a commercial license to the innovation, including an opportunity for exclusivity in certain crops.

GlobeImmune, Inc. (Nasdaq: GBIM)... More

BofA/Merrill Lynch Downgrades Michael Kors (KORS) to Neutral

BofA/Merrill Lynch downgraded Michael Kors (NYSE: KORS) from Buy to Neutral with a price target of $60.00 (from $100.00). The change follows Q4 results and soft Q1 and FY16 guidance. Analyst Robert Ohmes pointed to uncertain global same-store-sales and operating margin outlook.

For... More

JPMorgan Downgrades Michael Kors (KORS) to Neutral

JPMorgan downgraded Michael Kors (NYSE: KORS) from Overweight to Neutral.

For an analyst ratings summary and ratings history on Michael Kors click here. For more ratings news on Michael Kors click here.

Shares of Michael Kors closed at $60.59 yesterday.

Fossil Group (FOSL) Sinks on Dismall Results, Outlook for Partner Michael Kors (KORS)

Fossil Group (NASDAQ: FOSL) is under heavy pressure early Wednesday (-8%) following dismal quarterly results and outlook from partner Michael Kors Holdings (NYSE: KORS) (-17%).

Pre-Open Stock Movers 05/27: (EOX) (OPXA) (TIF) Higher; (KORS) (WDAY) (CHS) Lower (more...)

Emerald Oil (NYSE: EOX) 64.7% HIGHER; elected not to proceed with its previously announced public offering of common stock. As a result of the Company's election not to proceed with its public offering, the Company will not be taking action to close the previously announced Delaware Basin acquisition.

Opexa Therapeutics, Inc. (NASDAQ: OPXA) 27% HIGHER; new Buy rating and $5 price target at Maxim Group.... More

Piper Jaffray Wouldn't Buy Michael Kors (KORS) on Post-Q1, Outlook Weakness

Piper Jaffray affirms Michael Kors Holdings Limited (NYSE: KORS) with a Neutral rating and $64 price target following Q4 results and guiance issued earlier Wednesday.

Analyst Erinn Murphy noted that KORS Q4 EPS of $0.90 met the firm's view, though it was a slight miss to... More

Michael Kors (KORS) Misses Q4 EPS by 1c, Issues Light FY16 Outlook

Michael Kors (NYSE: KORS) reported Q4 EPS of $0.90, $0.01 worse than the analyst estimate of $0.91. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.09 billion.

Retail net sales increased 14.9% to $469.4 million driven by 121 net new store openings since the end of the fourth quarter of fiscal 2014 and e-commerce sales from the recently... More

Michael Kors (KORS) Appoints New SVP of Menswear

Michael Kors (NYSE: KORS) announced that Marcel Ostwald has been named to the newly created role of Senior Vice President, Menswear.

Mr. Ostwalds appointment, effective August 1, 2015, fills a key role in the global brands growing menswear business. Mr. Ostwald will work closely with Michael Kors and Mark Brashear, President of Menswear, in developing the creative brand strategy and product vision for the mens division.

We are very... More

Notable 52-Week Highs and Lows 5/26: (CVC) (DE) (PANW) High; (ACI) (ANR) (KORS) Low

52-Week High:Cablevision (NYSE: CVC) $26.50. Cablevision moving higher Tuesday following news that Charter Communicatoins and Time Warner Cable have entered a merger agreement.

Deere (NYSE: DE) $94.24. Deere moving to annual highs amid Baird downgrading the stock from Outperform to Neutral earlier, while also moving its price target from $102 down to... More

Trading Radar for 5/27: Costco (COST), Michael Kors (KORS), Tiffany & Co. (TIF), Toll Brothers (TOL), Palo Alto Networks (PANW) Report

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

Before Markets Open:
Economics:
7:00am EDT
MBA Mortgage Index - no Street consensus

Earnings:

BMO Financial Group (NYSE: BMO) - consensus EPS $1.65
Brown Shoe (NYSE:... More

Canaccord Genuity Cuts Price Target to $63 on Michael Kors (KORS) Following Industry Checks

Canaccord Genuity maintains a Hold rating on Michael Kors (NYSE: KORS), and cuts the price target to $63.00 (from $76.00), following discussions with industry contacts, and store checks during the quarter. Analyst Camilo Lyon believes that the company has expanded its distribution too quickly.

Lyon... More