S&P Downgrades Fossil Group (FOSL) Corp. Rating to Junk; Outlook Stable

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

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