24/7 Wall St. » KORS

Top Analyst Upgrades and Stocks to Buy: J.C. Penney, Pandora, Priceline and More

Jon C. Ogg — Mon, 20 May 2013 12:30:55 +0000

Investors and traders are always on the lookout for fresh research ideas that will lead to higher income or more profits. 24/7 Wall St. reviews many fresh research calls to find great ideas from value stocks to growth stocks to dividend stocks. We are breaking out the positive analyst calls as far as stocks to buy and positive research calls today. These are some of this Monday’s top analyst upgrades, initiations and positive analyst research calls seen from Wall Street today.

Abbott Laboratories (NYSE: ABT) was raised to Buy from Neutral at Goldman Sachs.

Accenture PLC (NYSE: ACN) was raised to Buy from Neutral at Goldman Sachs.

NetEase Inc. (NASDAQ: NTES) was raised to Buy from Neutral at Citigroup.

Deutsche Bank gave its top oil services stocks to buy today.

J.C. Penney Co. Inc. (NYSE: JCP) was raised to Buy from Hold at Maxim Group.

Michael Kors Holdings Ltd. (NYSE: KORS) was started as Buy at Canaccord Genuity.

Oppenheimer gave a list of top consumer and business services stocks to buy.

Pandora Media Inc. (NYSE: P) was raised to Equal Weight from Underweight at Barclays.

Priceline.com Inc. (NASDAQ: PCLN) was raised to Buy from Hold at Deutsche Bank.

T-Mobile US Inc. (NYSE: TMUS) was raised to Buy from Hold at Deutsche Bank.

The quiet period for Taylor Morrison Home Corp. (NYSE: TMHC) has ended and we have seen the following coverage calls from Wall Street: started as Buy at Citigroup, started as Outperform at Credit Suisse and started as Overweight at J.P. Morgan.

Filed under: Active Trader, Analyst Calls, Value Investing Tagged: ABT, ACN, JCP, KORS, NTES, P, PCLN, TMUS

Jefferies Best Specialty Retailer Stocks to Buy

Lee Jackson — Thu, 09 May 2013 12:15:03 +0000

Consumer purchasing comprises almost 70% of the gross domestic product calculation. With a rising stock market and home values increasing, consumers are feeling better in 2013 than they have felt in years. This improved outlook may very well lead to increased sales figures at retailers around the country.

The retail/specialty store analysts at Jefferies are about as bullish as a Wall Street firm can be when it comes to their outlook on the sector. They remain extremely positive on the group as a whole, and think retail stocks are still headed upwards on a multiyear run, driven by four leading indicators:

Lean inventories in the retail environment
Upside to margins with raw material prices falling
The previously mentioned improving consumer sentiment
Retailers poised to embark on a significant acceleration in free cash flow

With these positive catalysts falling into place, Jefferies has a solid group of retailing stocks to buy.

Deckers Outdoor Corp. (NASDAQ: DECK) is the absolute top pick to buy. With its popular outdoor clothing to the extremely successful UGG line of women’s footwear, Deckers has chased away many short sellers. The Jefferies price target is a staggering $100. The Thomson/First Call estimate is much lower at $62.

The Gap Inc. (NYSE: GPS) ranks as the number two top pick at Jefferies. This apparel maker’s brands also include Old Navy and Banana Republic. The Jefferies price target is $56, while the consensus estimate is $40. Investors are paid a 1.50% dividend.

Francesca’s Holding Corp. (NASDAQ: FRAN) makes the list. Francesca’s was recently added to the Small Cap 600 stock index. Jefferies has a price target for the stock of $42. The consensus is at $39.

Michael Kors Holdings Ltd. (NYSE: KORS) went public in December of 2011 and hasn’t looked back since. The company engages in the design, marketing, distribution and retail of branded women’s and men’s apparel and accessories. The Jefferies price target for this top name is $81. The consensus target is $75.

Ulta Salon, Cosmetics & Fragrances Inc. (NASDAQ: ULTA) is an absolute magnet for women shoppers. Ulta Salon, after more than 20 years of operation, has become a large beauty retailer with more than 20,000 salon service locations in the United States. The Jefferies price target for the stock is $100 and the consensus is at $93.

Vera Bradley Inc. (NASDAQ: VRA) is primarily known for its iconic patterned bags. Between 2008 and 2012, the company doubled its annual revenue from $239 million to $541 million, and it nearly tripled its net earnings from $24 million to $69 million. Jefferies’ price objective is $35. The consensus estimate is $30.

Fossil Inc. (NASDAQ: FOSL) is a stock to buy. For the first quarter, the company beat revenue and earnings expectation handily. The Jefferies target is $130. The consensus for this volatile name is at $115.

rue21 Inc. (NASDAQ: RUE) completes the list of top retail stocks to buy at Jefferies. The company, which sells tank tops and graphic tees to teenagers at affordable prices, is shaping up to be a possible target for a private-equity investment. The Jefferies target for the stock is $40. The consensus estimate is $33.

The difference between the consensus price targets for these stocks and the Jefferies price targets tell a big story. If the consumer stays strong and the economy continues to improve, the sky-high Jefferies targets may indeed become a reality. Should the economy sputter and slow down, all retail bets may be off.

Filed under: Analyst Calls, Retail Tagged: DECK, featured, FOSL, FRAN, GPS, KORS, RUE, ULTA, VRA

Top Wall Street Analyst Upgrades: Arch Coal, Gap, BioMarin and More

Jon C. Ogg — Tue, 07 May 2013 12:30:27 +0000

Investors and traders seem to be constantly looking for fresh research ideas that will lead to higher income or more profits. 24/7 Wall St. reviews many research calls each day to find great ideas from value stocks to growth stocks to dividend stocks. We are breaking out the positive analyst calls as far as stocks to buy and positive research calls today and these are some of Tuesday’s top analyst upgrades, initiations and positive analyst research calls seen from Wall Street today.

Abercrombie & Fitch Co. (NYSE: ANF) was raised to Outperform from Market Perform at Wells Fargo.

Arch Coal Inc. (NYSE: ACI) was raised to Neutral from Sell at Goldman Sachs.

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) was started as Buy at Goldman Sachs.

CBOE Holdings Inc. (NASDAQ: CBOE) was named Bull of the Day at Zacks Investment Research.

Chico’s FAS Inc. (NYSE: CHS) was started as Outperform at Wells Fargo.

EVERTEC Inc. (NYSE: EVTC) saw its quiet period come to an end and analysts have initiated coverage on the international transaction processing service provider as follows: started as Buy at UBS, started as Buy at Deutsche Bank, started as Outperform at Credit Suisse and started as Overweight at J.P. Morgan.

Gap Inc. (NYSE: GPS) was raised to Outperform from market Perform at Wells Fargo.

Medivation Inc. (NASDAQ: MDVN) was started as Buy at Goldman Sachs.

Michael Kors Holdings Ltd. (NYSE: KORS) was started as Outperform at Wells Fargo.

Pinnacle Foods Inc. (NYSE: PF) was started as Outperform at Credit Suisse and started as Outperform at BMO Capital Markets.

Rally Software Development Corp. (NYSE: RALY) was started as Buy at Deutsche Bank and started as Outperform at JMP Securities.

Sanchez Energy Corp. (NYSE: SN) was started as Buy at SunTrust.

Urban Oufitters Inc. (NASDAQ: URBN) was raised to Outperform at Wells Fargo.

Deutsche Bank gave a list of picks in its call for it being time to rotate from industrial stocks into banks and technology stocks.

Filed under: Active Trader, Analyst Calls, Retail, Value Investing Tagged: ACI, ANF, BMRN, CBOE, CHS, EVTC, featured, GPS, KORS, MDVN, PF, RALY, SN, URBN

24/7 Wall St. Closing Bell — April 12, 2013: Markets Start, Stay Negative (V, HD, APO, AMZN, KORS, CRMB, JPM, WFC, C, RALY, EVTC, RAD, ABX)

Paul Ausick — Fri, 12 Apr 2013 20:06:22 +0000

U.S. equity markets opened lower this morning and failed to generate any positive traction all day long. Economic data from Europe was mixed, and the European Central Bank said that 19 banks are set to repay some €10.8 billion in long-term refinancing obligations (LTRO) funds next week. Cyprus extended its capital controls for another seven days although some limits were lifted. In Asia, Singapore’s GDP contracted by 0.6% in the first quarter, far worse than the expected increase of 0.5%. In the U.S., retail sales were reported down and wholesale inflation was cooler than expected (more coverage here). The real anchor today was a collapse in the consumer sentiment index (more coverage here).

The U.S. dollar index is trading up 0.06% today, now at 82.291. The GSCI commodity index is down 0.7% at 631.61. WTI crude oil closed down 2.4% today, at $91.29 a barrel, and closed the week down 1.5% (more oil coverage here). Brent crude trades down 1.2% at $103.05 a barrel. Natural gas is up 2.3% today at about $4.21 per million BTUs. Gold settled down 4.1% today at $1,501.40 an ounce, the yellow metal’s lowest level in nearly two years and down 4.7% for the week.

The unofficial closing bells put the DJIA flat at 14,864.91, the NASDAQ fell about 5 points (-0.16%) to 3,294.95, and the S&P 500 fell -0.28% or nearly 5 points to 1,588.85.

There were a several analyst upgrades and downgrades today, including Visa Inc. (NYSE: V) cut to ‘neutral’ at Sterne Agee; Home Depot Inc. (NYSE: HD) raised to ‘buy’ at Jefferies; Apollo Global Management LLC (NYSE: APO) started as ‘outperform’ at Wells Fargo; Amazon.com Inc. (NASDAQ: AMZN) reiterated as ‘outperform’ with a price target of $334 at Credit Suisse; and Michael Kors Holding Ltd. (NYSE: KORS) started as ‘underperform’ at CSLA.

Earnings reports since markets closed last night resulted in some price moves today, including these as of the last half hour of trading: Wells Fargo & Co. (NYSE: WFC) is down 1% at $37.15 (more coverage here); JPMorgan Chase & Co. (NYSE: JPM) is down 0.6% at $49.04 (more coverage here); and Crumbs Bake Shop Inc. (NASDAQ: CRMB) is down 34.5% at $1.97.

Before markets open Monday morning we are scheduled to hear from Citigroup Inc. (NYSE: C).

Some standouts among heavily traded stocks today include:

Rally Software Development Corp. (NYSE: RALY) is up 27.3% at $17.82. The cloud-based software development firm held its IPO today, as did Latin American transaction processing firm Evertec Inc. (NYSE: EVTC), which is also up 2.4% at $20.48. More coverage here.

Rite Aid Corp. (NYSE: RAD) is up 8.9% at $2.31 after posting a new 52-week high of $2.33 earlier today. The drug store chain continues to attract investors after its solid earnings report earlier this week.

Barrick Gold Corp. (NYSE: ABX) is down 8.5% at $22.64 after posting a new 52-week low of $22.60 earlier today. The gold miner is reacting to today’s sharp drop in the price of gold. Earlier in the week operations were halted by a court order at a Chilean mine. The drop in gold prices very likely has no relationship to Bitcoin.

Stay tuned for Monday. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Empire State manufacturing survey
9:00 a.m. – Treasury international capital (TIC) data
10:00 a.m. – National Association of Home Builders housing market index
11:30 a.m. – 3- and 6-month Treasury bill auctions

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: ABX, AMZN, APO, C, CRMB, EVTC, HD, JPM, KORS, RAD, RALY, V, WFC

Top Analyst Upgrades and Downgrades (ABT, AMZN, APO, CAT, HD, MA, KORS, MSFT, OXY, SNDK, TTM, V, ZUMZ)

Jon C. Ogg — Fri, 12 Apr 2013 12:30:46 +0000

Investors and traders are looking for new ideas as the markets challenge new all-time highs to generate income and profits. 24/7 Wall St. reviews many analyst calls and research notes to find great ideas from value stocks to growth stocks to dividend stocks. Some are stocks to buy and some are stocks to sell. These are some of the top analyst upgrades, downgrades and initiations seen from select Wall St. research calls this Friday.

Abbott Laboratories (NYSE: ABT) started as Neutral at Credit Suisse.

Amazon.com Inc. (NASDAQ: AMZN) reiterated Outperform with $334 price target at Credit Suisse.

Apollo Global Management LLC (NYSE: APO) started as Outperform at Wells Fargo.

Caterpillar Inc. (NYSE: CAT) was one of our fresh stocks that need to catch up to the bull market. Now Credit Suisse is maintaining its Outperform rating but is cutting the price target down to $110 from $123 on the equipment and machinery giant.

Home Depot Inc. (NYSE: HD) raised to Buy from Hold at Jefferies.

MasterCard Inc. (NYSE: MA) cut to Neutral from Buy at Stern Agee.

Michael Kors Holding Ltd. (NYSE: KORS) started as Underperform at CLSA.

Microsoft Corp. (NASDAQ: MSFT) took at least three big downgrades on Thursday, and now CLSA has downgraded the software giant to Outperform from Buy and the $36 target was cut to $34.

Occidental Petroleum Corp. (NYSE: OXY) reiterated Buy with $105 price target at Argus.

SanDisk Corp. (NASDAQ: SNDK) started as Market Perform at BMO.

Tata Motors Ltd. (NYSE: TTM) started as Outperform at Oppenheimer.

Visa Inc. (NYSE: V) cut to Neutral from Buy at Stern Agee.

Zumiez Inc. (NASDAQ: ZUMZ) raised to Neutral from Underperform at BofA/Merrill Lynch.

Merrill Lynch sees upside earnings surprises from these eight large companies during earnings season.

UBS is calling the pullback in refining stocks a buying opportunity and the firm also gave a list of MLPs that are still very safe to buy.

Filed under: Active Trader, Analyst Calls, Dividends & Buybacks, Value Investing Tagged: ABT, AMZN, APO, CAT, HD, KORS, MA, MSFT, OXY, SNDK, TTM, V, ZUMZ

Top Analyst Upgrades and Downgrades (AMAG, AON, BMY, SCHW, COH, BVN, DF, GPS, HGG, LXK, MRK, KORS, NS, RRGB, TIF, TJX, YHOO)

Jon C. Ogg — Mon, 04 Mar 2013 13:45:09 +0000

These are some of this Monday’s top analyst upgrades, downgrades and initiations seen from Wall St. research calls.

AMAG Pharmaceuticals Inc. (NASDAQ: AMAG) raised to Neutral at J.P. Morgan.

AON Corp. (NYSE: AON) cut to Neutral at Goldman Sachs.

Bristol-Myers Squibb Co. (NYSE: BMY) cut to Neutral at BofA/Merrill Lynch.

The Charles Schwab Co. (NYSE: SCHW) raised to Outperform at Bernstein.

Coach Inc. (NYSE: COH) started as Buy at Stern Agee.

Compania de Minas Buenaventura (NYSE: BVN) started as Outperform at Credit Suisse.

Dean Foods Co. (NYSE: DF) raised to Buy at KeyBanc.

Gap Inc. (NYSE: GPS) started as Underperform at Stern Agee.

hhgregg Inc. (NYSE: HGG) named as Bear of the Day at Zacks.

Lexmark International Inc. (NYSE: LXK) raised to Equal Weight at Barclays.

Merck & Co. (NYSE: MRK) raised to Buy at BofA/Merrill Lynch.

Michael Kors Holdings Ltd. (NYSE: KORS) started as Neutral at Stern Agee.

NuStar Energy L.P. (NYSE: NS) cut to Underperform at Credit Suisse.

Red Robin Gourmet Burgers Inc. (NASDAQ: RRGB) named Bull of the Day at Zacks.

Tiffany & Co. (NYSE: TIF) started as Neutral at Stern Agee.

TJX Companies Inc. (NYSE: TJX) started as Buy at Stern Agee.

Yahoo! Inc. (NASDAQ: YHOO) raised to Overweight at Barclays.

Deutsche Bank says to buy the eight enduring tech stocks.

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AMAG, AON, BMY, BVN, COH, DF, GPS, HGG, KORS, LXK, MRK, NS, RRGB, SCHW, TIF, TJX, YHOO

Nine Unusual After-Hours Movers (MDRX, DMD, LOPE, LZB, KORS, MM, NTSP, RMBS, GDOT)

Jon C. Ogg — Tue, 19 Feb 2013 22:09:16 +0000

24/7 Wall St. is tracking key movers after the close. Some of these are earnings, some are on the guidance, and one is M&A-related.

Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) is surging after earnings. Its report showed that bookings were $180.7 million versus $327.4 million a year ago but up from $161.9 million in the prior sequential quarter. Shares are up 8% at $12.08 as bottom fishers are playing a bounce. Its 52-week range is $8.84 to $20.10.

Demand Media Inc. (NYSE: DMD) fell almost 1% on Tuesday but shares rose by 16% to $9.10 after the close. While this was reporting earnings, the big news is that Demand is spinning off its domain registrar business from its media unit. Unlocking is value is good, but we have a simple question: How many people actually knew that this company had a domain registrar business? It says that it will create a “pure-play domain services company that would be the only end-to-end provider offering registry services, expansive wholesale and retail distribution, and comprehensive aftermarket services.”

Grand Canyon Education Inc. (NASDAQ: LOPE) is saying “What For-Profit concerns in education?”… The company said that revenue increased 25.0% to $141.3 million for the fourth quarter as enrollments rose by 19.1% to 52,300. Shares closed up 2% at $25.56 and the stock is yup another 4.7% at $26.78

La-Z-Boy Inc. (NYSE: LZB) is up 9.9% at $17.00 after the earnings report showed that the furniture maker’s same-store sales at its own galleries were up almost 12% and its profit was up 14%.

Michael Kors Holdings Ltd. (NYSE: KORS) is seeing news that the high-end apparel player is conducting yet another public secondary offering for insiders. AFter closing up 2.5% today, the stock is down 2.4% at $63.30 on the news. As far as why this is an unusual mover, they are lucky that the stock is not down much more.

Millennial Media Inc. (NYSE: MM) may be growing in mobile advertising as its quarterly revenue increased about 68% to $58.0 million. Unfortunately, the growth ahead is light even if it is still well above other players. Shares were up almost 1% at $14.33 today but the stock is down 27% at $10.45 in the after-hours.

Rambus Inc. (NASDAQ: RMBS) updated guidance after announcing a patent license pact with LSI. This semiconductor license player was up over 6% today as is, and shares were up 4.3% at $6.09 in the after-hours session.

NetSpend Holdings Inc. (NASDAQ: NTSP) fell 3% today but it is surging by over 28% to $15.80 on news that Total System Services Inc. (NYSE: TSS) is paying $1.4 billion to acquire the company at $16.00 per share in cash. NetSpend is a provider of general purpose reloadable prepaid debit cards and related financial services to underbanked consumers. Green Dot Corp. (NYSE: GDOT) is in this business and its stock is up 16% at $17.05 as a secondary or tertiary play on the news.

Filed under: 24/7 Wall St. Wire, Active Trader, After-Hours Activity, Earnings Tagged: DMD, GDOT, KORS, LOPE, LZB, MDRX, MM, NTSP, RMBS, TSS

24/7 Wall St. Closing Bell — February 12, 2013: Markets Close Mixed in Another Yawner (CHK, FB, LVS, RGLD, DD, LGF, AVP, CPLA, FOSL, HERO, LVLT, KORS, RAI, KO, MHP, TRP, RATE, BWLD, CLWR, RAX, CMCSA, DF, DE, TOT, ZNGA, LDK)

Paul Ausick — Tue, 12 Feb 2013 21:03:47 +0000

U.S. equity markets opened about flat this morning on another day devoid of significant data releases. In Asia, markets in China and Hong Kong remain closed for the holiday, but Japan’s Nikkei closed higher. In Europe, U.K. CPI data was mixed and France reported a higher-than-expected current account deficit. In Italy, a new corruption scandal broke out related to the head of the country’s largest defense contractor. U.S. markets took their cue from earnings reports and from a speech by Apple Inc.’s (NASDAQ: AAPL) that weighed on tech stocks (more coverage here). The Treasury budget showed a surplus of $2.88 billion, but did little to sway markets.

The U.S. dollar index fell 0.26% today, now at 80.098. The GSCI commodity index is down fractionally at 677.66, with commodities prices mostly lower today. WTI crude oil closed up 0.5% today, at $97.51 a barrel after the U.S. EIA released its monthly outlook (more coverage here). Brent crude trades up 0.5% at $118.65 a barrel. Natural gas is down 1.3% today at about $3.24 per million BTUs. Gold settled down fractionally today at $1,649.60 an ounce.

The unofficial closing bells put the DJIA up about 48 points to 14,019.24 (0.34%), the NASDAQ fell more than 5 points (-0.17%) to 3,186.49, and the S&P 500 rose 0.16% or more than 2 points to 1,519.42.

There were a several analyst upgrades and downgrades today, including Chesapeake Energy Corp. (NYSE: CHK) started as ‘equal weight’ at Barclays; Facebook Inc. (NASDAQ: FB) cut to ‘market perform’ at Bernstein; Las Vegas Sands Corp. (NYSE: LVS) raised to ‘buy’ with a price target of $25 at Argus; Royal Gold Inc. (NASDAQ: RGLD) raised to ‘buy’ at UBS; and E. I. du Pont de Nemours & Co. (NYSE: DD) started as ‘equal weight’ at Barclays.

Earnings reports since markets closed last night resulted in several price moves today, including these: Lions Gate Entertainment Corp. (NYSE: LGF) is down 0.7% at $19.61 (more coverage here); Capella Education Co. (NASDAQ: CPLA) is down 1.2% at $31.63; Fossil Inc. (NASDAQ: FOSL) is up 3.1% at $110.83; Hercules Offshore Inc. (NASDAQ: HERO) is up 1.4% at $7.12 after posting a new 52-week high of $7.40 earlier today; Level 3 Communications Inc. (NYSE: LVLT) is down 13.5% at $21.34; Michael Kors Holdings Ltd. (NYSE: KORS) is up 8.4% at $61.79 after posting an all-time high of $64.55 earlier today (more coverage here); Reynolds American Inc. (NYSE: RAI) is down 0.8% at $43.87; The Coca-Cola Co. (NYSE: KO) is down 3% at $37.46 (more coverage here); The McGraw-Hill Companies (NYSE: MHP) is down 0.9% at $43.89 (more coverage here); and TransCanada Corp. (NYSE: TRP) is down 1.5% at $47.45.

After markets close today and before they open tomorrow morning we are scheduled to hear from Bankrate Inc. (NYSE: RATE), Buffalo Wild Wings Inc. (NASDAQ: BWLD), Clearwire Corp. (NASDAQ: CLWR), Rackspace Hosting Inc. (NYSE: RAX), Comcast Corp. (NASDAQ: CMCSA), Dean Foods Inc. (NYSE: DF), Deere & Co. (NYSE: DE), and Total SA (NYSE: TOT).

Some standouts from today include the following stocks:

Avon Products Inc. (NYSE: AVP) is up 20.8% at $20.87. The cosmetics firm posted results for the fourth quarter that looked outstanding compared with so many previous quarters. The company has begun to stabilize sales and expects to pay down some debt early this year.

Zynga Inc. (NASDAQ: ZNGA) is down 10.9% at $3.27. The social games company is losing steam following a downgrade to Facebook stock after a couple of days of nice gains.

LDK Solar Co. Ltd. (NYSE: LDK) is up 14.3% at $1.84. The solar maker is getting a boost from reports that demand is catching up with supply and prices are strengthening. More coverage on solar short interest here.

Stay tuned for Wednesday. St. Louis Fed President James Bullard is giving a speech. We have also noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
8:30 a.m. – Retail sales
8:30 a.m. – Import and export prices
10:00 a.m. – Business inventories
10:30 a.m. – EIA weekly petroleum status report
1:00 p.m. – 10-year note auction

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: AVP, BWLD, CHK, CLWR, CMCSA, CPLA, DD, DE, DF, FB, featured, FOSL, HERO, KO, KORS, LDK, LGF, LVLT, LVS, MHP, RAI, RATE, RAX, RGLD, TOT, TRP, ZNGA

Kors Raises Guidance Following Big Quarterly Beat

Paul Ausick — Tue, 12 Feb 2013 12:30:39 +0000

Michael Kors Holdings Ltd. (NYSE: KORS) reported third-quarter fiscal 2013 adjusted diluted earnings per share (EPS) of $0.64 and $636.78 million in revenues before markets opened this morning. In the same period a year ago, the luxury apparel maker and retailer reported EPS of $0.28 on revenue of $373.61 million. This morning’s results also compare to the Thomson Reuters consensus estimates for EPS of $0.41 and $540.3 million in revenue.

Global same-store sales for the quarter rose 41.4% year-over-year, and the company says it has opened 66 new stores since the end of the third quarter of fiscal 2012.

Kors’s CEO said:

Our strong third quarter performance reflects sustained brand momentum as the global recognition and appeal for the Michael Kors luxury brand continued to expand. Moreover, we were extremely pleased with the holiday season as Michael Kors’ brand strength, innovative fashion design and jet-set in-store experience drove strong sales and earnings.

The company guided fourth-quarter revenue to $515 to $525 million, assuming an increase in same-store sales in the low to mid-20% range. EPS is forecast at $0.32 to $0.34 for the quarter.

For the 2013 fiscal year, Kors now estimates revenues of $2.1 billion, up from the previous guidance of $1.86 billion to $1.96 billion, and assumes a same-store sales increase in the mid-30% range. EPS is now forecast at $1.80 to $1.82, up generously from $1.48 to $1.50 for the full year.

The consensus estimates for the company’s fourth-quarter call for EPS of $0.32 on revenues of $513.29 million. For the full year, the consensus estimate calls for EPS of $1.56 on revenues of $2.01 billion.

Kors continues to be one of the bright lights in luxury apparel business since coming public in December of last year. Last quarter’s results were a bit of a disappointment, but Kors more than made up for it today. Guidance is way past estimates, and quarterly results just hammered expectations.

Shares are up about 10.5% in premarket trading to $63.00, above the 52-week high. The current 52-week range is $33.02 to $60.00. Thomson Reuters had a consensus analyst price target of $65.30 before today’s results were announced.

Filed under: 24/7 Wall St. Wire, Apparel, Earnings, Luxury Tagged: KORS

24/7 Wall St. Closing Bell — February 11, 2013: Markets Open Lower, Lack Enthusiasm (SCHW, SIAL, TSO, WFC, AOL, CCJ, L, NAT, WPP, LGF, AVP, CPLA, FOSL, HERO, LVLT, KORS, RAI, KO, MHP, TRP, ZNGA, DMND, STRZB, SNE)

Paul Ausick — Mon, 11 Feb 2013 21:07:16 +0000

U.S. equity markets opened lower this morning on a day that may be the least active of the year so far. The major Asian exchanges are closed today, with Shanghai and Hong Kong beginning the lunar new year celebrations and Japan closed for a national holiday. In Europe, a weekend release of tax returns by Spain’s prime minister did little to quell public questions about his finances. French industrial production slid 0.1% in January, which was a little better than expected. German 6-month bills saw their first positive yield in six months following today’s auction. There was no economic news in the U.S. today, either.

The U.S. dollar index fell 0.04% today, now at 80.217. The GSCI commodity index is rose 0.6% at 678.14, with commodities prices mixed again today. WTI crude oil closed up 1.4% today, at $97.03 a barrel, and post a drop of 2.1% for the week. Brent crude trades down 0.6% at $118.12 a barrel. Natural gas is up 0.3% today at about $3.28 per million BTUs. Gold settled down 1.1% today at $1,649.10 an ounce.

The unofficial closing bells put the DJIA down nearly 22 points to 13,971.24 (-0.16%), the NASDAQ fell about 2 points (-0.06%) to 3,192.00, and the S&P 500 fell -0.06% or about 1 point to 1,517.01.

There were a several analyst upgrades and downgrades today, including Charles Schwab Corp. (NYSE: SCHW) cut to ‘sell’ at Citigroup; Sigma-Aldrich Corp. (NASDAQ: SIAL) cut to ‘sell’ at UBS; Tesoro Corp. (NYSE: TSO) raised to ‘buy’ at BofA/ML; Wells Fargo & Co. (NYSE: WFC) raised to ‘buy’ at Stifel Nicolaus; and AOL Inc. (NYSE: AOL) raised to ‘outperform’ at RBC.

Earnings reports since markets closed Friday night resulted in several price moves today, including these: Cameco Corp. (NYSE: CCJ) is down 3.1% at $20.96; Loews Corp. (NYSE: L) is down 0.8% at $43.48 (more coverage here); Nordic American Tanker Ltd. (NYSE: NAT) is up 0.5% at $8.80 (more shipping coverage here); and Wausau Paper Corp. (NYSE: WPP) is up 0.5% at $9.77.

After markets close today and before they open tomorrow morning we are scheduled to hear from Lions Gate Entertainment Corp. (NYSE: LGF), Avon Products Inc. (NYSE: AVP), Capella Education Co. (NASDAQ: CPLA), Fossil Inc. (NASDAQ: FOSL), Hercules Offshore Inc. (NASDAQ: HERO), Level 3 Communications Inc. (NASDAQ: LVLT), Michael Kors Holdings Ltd. (NYSE: KORS), Reynolds American Inc. (NYSE: RAI), The Coca-Cola Co. (NYSE: KO), The McGraw-Hill Companies (NYSE: MHP), and TransCanada Corp. (NYSE: TRP).

Some standouts from today include the following stocks:

Zynga Inc. (NASDAQ: ZNGA) is up 8.4% at $3.72. The social game company appears to be getting more bounce from New Jersey Governor Chris Christie’s statement last week that he supports Internet gambling in the state, just not the bill he vetoed.

Diamond Foods Inc. (NASDAQ: DMND) is up 15.3% at $16.61. The food products maker is jumping on a share purchase by BlackRock. More coverage here.

Starz (NASDAQ: STRZB) is up 12.9% at $18.00. The pay TV channel operator signed a five-year deal with Sony Corp. (NYSE: SNE) extending the Starz channels’ rights to first-run movies through 2021. More coverage here.

Stay tuned for Tuesday. President Obama is delivering his State of the Union speech. Kansas City Fed President Esther George, Atlanta Fed President Dennis Lockhart and Philadelphia Fed President Charles Plosser are giving speeches. We have also noted the following events on the schedule (all times Eastern):

7:30 a.m. – National Federation of Business small business optimism index
11:30 a.m. – 4-week bill auction
1:00 p.m. – 3-year note auction
2:00 p.m. – Treasury budget

Filed under: 24/7 Wall St. Wire, HI/LOW, Market Close Tagged: AOL, AVP, CCJ, CPLA, DMND, featured, FOSL, HERO, KO, KORS, L, LGF, LVLT, MHP, NAT, RAI, SCHW, SIAL, SNE, STRZB, TRP, TSO, WFC, WPP, ZNGA