Oppenheimer Remains Sidelined on Fossil Group (FOSL) as Bear Case Appears to Play Out

Wall Street mixed as Apple tumbles to two-year low

May 12, 2016 7:42 AM EDT

By Noel Randewich

(Reuters) - U.S. stocks ended mixed on Thursday, with gains in telecommunications and consumer staples helping make up for a tumble in Apple to a two-year low.

The S&P 500 and Dow Jones swerved between gains and losses before ending virtually flat. Up 0.90 percent, Microsoft was the largest upward force in the S&P 500.

Apple Inc (NASDAQ: AAPL), a mainstay in many portfolios, was the heaviest drag on the three major indexes, slumping 2.35 percent to $90.34, its lowest since June 2014, as worries festered about... More

Notable 52-Week Highs and Lows 5/11: (FOSL) (ASFI) (ALB) High; (CJES) (PTX) (M) Low

May 11, 2016 3:31 PM EDT

52-Week High:MGT Capital Investments, Inc. (NYSE: MGT) $1.08. MGT Capital Investments surging for a second session on Wednesday after announcing Monday that it entered into a definitive asset purchase agreement to acquire certain technology and assets from D-Vasive Inc., a provider of leading edge anti-spy software. D-Vasive offers a powerful tool for protection from the proliferation of invasive apps by consumer products companies, social networks, financial institutions and others. MGT also announced the proposed appointment of John McAfee as Executive Chairman and... More

Macy's forecast helps trigger sell-off in U.S. retailers

May 11, 2016 2:15 PM EDT

By Caroline Valetkevitch

NEW YORK (Reuters) - Investors heavily discounted U.S. retailers on Wednesday after a series of disappointments in the sector, including a weak forecast from Macy's Inc (NYSE: M).

Macy's stock dropped 15.2 percent to $31.38, the lowest since December 2011, after the company posted a much bigger-than-expected drop in quarterly sales and slashed its full-year forecast.

The stock helped lead a 1.9 percent decline in the S&P 500 retail index .

The selling quickly spread in the sector as the outlook for brick-and-mortar retailers weakened. Shares of Fossil Group (NASDAQ:... More

Unusual 11 Mid-Day Movers 5/11: (CCXI) (STEM) (NTRA) Higher; (CJES) (ODP) (FOSL) Lower

May 11, 2016 12:56 PM EDT

C&J Energy Services (NYSE: CJES) 52.1% LOWER; reported Q1 EPS of ($0.61), $0.08 better than the analyst estimate of ($0.69). Revenue for the quarter came in at $269.62 million versus the consensus estimate of $312.61 million.

ChemoCentryx, Inc. (Nasdaq: CCXI) 42.8% HIGHER; continuing higher from Tuesday after Vifor Pharmaand and ChemoCentryx announced that Vifor Pharma has licensed rights to commercialize CCX168, a Complement 5a Receptor (C5aR) inhibitor ready for Phase 3 development for orphan and rare renal diseases, in Europe, Canada, Mexico, Central and South... More

Michael Kors (KORS) Slammed on Fossil (FOSL) Blow-Up

May 11, 2016 9:35 AM EDT

Michael Kors (NYSE: KORS) is under heavy pressure earlier following dismal guidance from partner Fossil (NASDAQ: FOSL). Shares of KORS are down 8.2%, while FOSL is down 30.5%.

... More

Pre-Open Stock Movers 05/11: (SQBG) (CSIQ) (EA) Higher; (ODP) (FOSL) (CJES) (SPLS) (DIS) Lower (more...)

May 11, 2016 9:28 AM EDT

Today's Pre-Open Stock Movers:

Office Depot, Inc. (NASDAQ: ODP) 35% LOWER; merger with Stales (NASDAQ: SPLS) terminated after negative court ruling.

Fossil Group (NASDAQ: FOSL) 32.9% LOWER; reported Q1 EPS of $0.12, $0.03 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $659.8 million versus the consensus estimate of $666.6 million. GUIDANCE: Fossil Group sees FY2016 EPS of $1.80-$2.80, versus the consensus of... More

Jefferies Cuts Price Target on Fossil Group (FOSL) Following 1Q Miss

May 11, 2016 8:49 AM EDT

Jefferies maintained a Hold rating on Fossil Group (NASDAQ: FOSL), and cut the price target to $32.00 (from $40.00), following the company's 1Q earnings report. Fossil reported sales of -9%, compared to the Street's -8% estimate. EPS of $0.12 came in below the Street's $0.15 estimate. The... More

Wall Street slumps as Disney and Macy's slam consumer shares

May 11, 2016 7:38 AM EDT

By Noel Randewich

(Reuters) - U.S. stocks dropped on Wednesday and the Dow Jones industrial average suffered its worst day since February as feeble quarterly reports from Walt Disney, Macy's and Fossil undermined confidence across the consumer sector.

The consumer discretionary index fell 1.98 percent, notching its worst day in three months, with all but three of its 88 components losing ground.

The biggest drag on the Dow, Disney (NYSE: DIS) dropped 4.04 percent after it posted a rare earnings miss.

Department store Macy's (NYSE:... More

Fossil (FOSL) May weekly volatility at 197 into shares collapse to six-year low on Q1 results

May 11, 2016 7:06 AM EDT

Fossil (NASDAQ: FOSL) is recently down $12.60 to $27.50 in the premarket after reporting lower than expected Q1 and less than expected guidance. May weekly call option implied volatility is at 197, May is at 116, June is at 66; compared to its 52-week range of 20 to 88.

... More

Early pre-open market-options summary

May 11, 2016 7:01 AM EDT

Globex S&P futures are recently down 4.50 from previous days SPX cash close as the dollar pulls back from a two-week high. Nikkei 225 up 0.08%, Hang Seng down 0.89%, DAX down 0.62%. WTI Crude oil is recently at $44.31, natural gas up 0.09%, gold at $1274 an ounce, copper up 1.58%.

Stocks and options... More

Fossil (FOSL) M&A Risk Makes The Stock Un-Shortable - Cowen

May 11, 2016 6:59 AM EDT

Cowen analyst Oliver Chen, reiterated his Market Perform rating on Fossil (NASDAQ: FOSL) after 1Q sales & guidance missed on broad-based wholesale softness as core watch trends took marked turn for the worse. Investors are still concerned about execution risk in wearables but the... More

Fossil (FOSL) PT Cut to $25 at Piper Jaffray

May 11, 2016 6:21 AM EDT

Piper Jaffray analyst Erinn Murphy reiterated an Underweight rating and lowered her price target on Fossil (NASDAQ: FOSL) to $25.00 (from $29.00).

Murphy commented, "On the heels of what amounted to be a disappointing quarter vs. expectations, we are reiterating our UW... More

After-Hours Stock Movers 05/10: (FUEL) (SQBG) (EA) Higher; (FOSL) (CJES) (FOGO) (DIS) Lower (more...)

May 10, 2016 5:42 PM EDT

Today's After-Hours Movers:

Fossil Group (NASDAQ: FOSL) 29% LOWER; reported Q1 EPS of $0.12, $0.03 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $659.8 million versus the consensus estimate of $666.6 million. GUIDANCE: Fossil Group sees FY2016 EPS of $1.80-$2.80, versus the consensus of $3.02.

Rocket Fuel (NASDAQ: FUEL) 25.6% HIGHER; reported Q1 non-GAAP EPS of ($0.28), versus ($0.60) reported last year. non-GAAP Revenue for the quarter came in at $62.2 million, versus $58.8 million reported last year.

TransEnterix (NYSE:... More

Fossil Group (FOSL) Misses Q1 EPS by 3c, Slashes Guidance

May 10, 2016 4:06 PM EDT

Fossil Group (NASDAQ: FOSL) reported Q1 EPS of $0.12, $0.03 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $659.8 million versus the consensus estimate of $666.6 million.

GUIDANCE:

Fossil Group sees FY2016 EPS of $1.80-$2.80, versus the... More