William Blair Remains Sidelined on Michael Kors (KORS) Following Versace Acquisition Reports
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Michael Kors (KORS) PT Lowered to $75 at Needham & Company, Reiterates 'Buy'
September 26, 2018 9:04 AM EDTNeedham & Company analyst Rick Patel lowered the price target on Michael Kors (NYSE: KORS) to $75.00 (from $79.00) while maintaining a Buy rating.
Patel commented, "We reiterate our Buy rating on KORS. Following Mondays pullback (stock -8%), we believe the market has already... More
Michael Kors (KORS) PT Raised to $80 at Cowen; 'Well-Positioned to Step Change Versace's Growth & Margins Over Time'
September 26, 2018 6:21 AM EDTCowen analyst Oliver Chen raised the price target on Michael Kors (NYSE: KORS) to $80.00 (from $78.00) while maintaining a Market Perform rating, following the company's announced deal for Versace.
Analyst Chen notes a positive outlook on KORS, suggesting the company paid a fair... More
Michael Kors makes high-end fashion statement with $2.2 billion Versace buy
September 25, 2018 7:23 AM EDTBy Giulia Segreti and Agnieszka Flak
MILAN (Reuters) - Michael Kors (NYSE: KORS) agreed to buy luxury designer Versace for 1.83 billion euros ($2.15 billion) including debt on Tuesday, as the U.S. fashion group positions itself to take on larger European rivals.
Michael Kors, whose namesake label is best known for its leather handbags, has made no secret of its ambition to widen its customer base and its portfolio of high-end brands after buying British stiletto-heel maker Jimmy Choo for $1.2 billion last year.
The bet on Versace comes... More
Michael Kors (KORS) to Acquire Gianni Versace for About $2.12 Billion
September 25, 2018 7:01 AM EDTMichael Kors Holdings Limited (NYSE: KORS), a global fashion luxury group, announced today that a definitive agreement has been signed to acquire all of the outstanding shares of Italian luxury fashion house Gianni Versace S.p.A. for a total enterprise value of Euro 1.83 billion or approximately US$2.12 billion. Versace, long recognized as one of the worlds leading luxury fashion companies, is synonymous with Italian glamour and style.
John D. Idol, Chairman and Chief Executive Officer of Michael Kors Holdings Limited, said, The acquisition of Versace is an important milestone for our... More
Michael Kors (KORS) Opening Delay, News Pending
September 25, 2018 6:49 AM EDTMichael Kors (NYSE: KORS) Opening Delay, News Pending
... MoreMichael Kors (KORS) weekly option implied volatility bid after shares sell off on reports of potential Versace bid
September 25, 2018 5:52 AM EDTMichael Kors (NYSE: KORS) September weekly call option implied volatility is at 44, October is at 29; compared to its 52-week range of 22 to 62 after reports of potential Versace bid.
... MoreMichael Kors (KORS) Weakness on Versace Speculation an Overreaction - Citi
September 24, 2018 12:55 PM EDTCiti analyst Paul Lejuez sees an overreaction in Michael Kors (NYSE: KORS) stock based on the potential Versace deal.
Michael Kors (KORS) call put ratio 2.6 calls to 1 put as shares sell off 9% after reports of potential Versace bid
September 24, 2018 11:09 AM EDTMichael Kors (NYSE: KORS) September weekly call option implied volatility is at 40, October is at 31; compared to its 52-week range of 22 to 62 after reports of potential Versace bid.
... MoreMichael Kors (KORS), Versace Said to Sign Deal: ANSA - Bloomberg
September 24, 2018 9:59 AM EDTMichael Kors (NYSE: KORS), Versace Said to Sign Deal: ANSA - Bloomberg
Michael Kors (KORS) call put ratio 1 call to 1.77 puts as shares sell off 6%
September 24, 2018 9:49 AM EDTMichael Kors (NYSE: KORS) call put ratio 1 call to 1.77 puts as shares sell off 6%
Michael Kors (KORS) Near Agreement to Buy Versace - Bloomberg
September 24, 2018 6:25 AM EDTMichael Kors (NYSE: KORS) is nearing an agreement to buy Gianni Versace, according to Bloomberg, citing people familiar with the plans. Versace attracted interest from a number of suitors.
Michael Kors may announce a deal as early as this week that values... More
Michael Kors set to snap up Italy's Versace: sources
September 24, 2018 6:21 AM EDTBy Pamela Barbaglia
LONDON (Reuters) - U.S. fashion group Michael Kors (NYSE: KORS) has agreed to take control of Versace in a deal that could value one of Italy's most prized designers at $2 billion, sources familiar with the matter said on Monday.
Budding luxury conglomerates, including Michael Kors' U.S. rival Tapestry (NYSE: TPR), owner of Coach and Kate Spade, are trying to make in-roads into an industry still dominated by European players such as Louis Vuitton owner LVMH .
... MoreTrade war dents European shares while M&A boosts Sky, Randgold
September 24, 2018 3:50 AM EDTBy Helen Reid and Danilo Masoni
LONDON (Reuters) - The U.S.-China trade war dented European stocks on Monday after tariffs from the world's biggest economies came into force and China canceled planned talks, triggering new fears of a protracted, costly trade dispute.
Europe's STOXX 600 fell 0.5 percent, extending losses after remarks from ECB President Mario Draghi bolstered expectations of rate hikes next year.
Autos, among the most dependent on smooth global trade, fell the most, down 1.5 percent, while rate sensitive banks ended down 0.8 percent after briefly turned higher following Draghi's comments.
The... More
