Michael Kors Holdings (KORS) tumbled to the bottom of the S&P 500 today after beating earnings forecasts but offering disappointing guidance.
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Michael Kors dropped 11% to $36.82, while the S&P 500 finished little changed at 2,293.08.
Cowen’s Oliver Chen and team write that they cut estimates before Michael Kors reported but not enough:
KORS stock likely to trade down -MSD as we proactively cut estimates ahead of 3Q print, but still not enough given 3Q comps missed at -6.4% C/C (vs Street’s -5.1%) w/ gross margins also lower by -90bps, while adj. EPS of $1.64 beat by a penny on better SG&A. FY17 guide lowered on comps, plus EPS cut by ~-6% on headwinds in N. America & Europe. We rate KORS Market Perform.
Michael Kors’ market capitalization fell to $6.1 billion today from $6.8 billion yesterday.
Top 5 Penny Stocks To Own For 2018: SORL Auto Parts Inc.(SORL)
- [By Lisa Levin]
Sorl Auto Parts, Inc. (NASDAQ: SORL) shares were also up, gaining 33 percent to $6.02 after the company reported strong Q1 results and raised its FY17 sales guidance.
- [By Lisa Levin] Gainers
Loxo Oncology Inc (NASDAQ: LOXO) rose 32.7 percent to $65.00 in pre-market trading after the company reported that larotrectinib trial demonstrated 76 percent confirmed objective response rate.
Dynavax Technologies Corporation (NASDAQ: DVAX) shares rose 22 percent to $7.20 in the pre-market trading session after the company on Friday presented updated data for SD-101 in combination with KEYTRUDA.
Puma Biotechnology Inc (NASDAQ: PBYI) rose 21.7 percent to $99.75 in pre-market trading as the company disclosed positive PB272 Phase 2 data from TBCRC 022 trial at ASCO17.
Helios and Matheson Analytics Inc (NASDAQ: HMNY) shares rose 20.7 percent to $3.21 in pre-market trading after the company reported that RedZone has acquired all the assets of Trendit including three technology patents.
Forestar Group Inc. (NYSE: FOR) rose 13.1 percent to $16.05 in pre-market trading after D.R. Horton, Inc. (NYSE: DHI) proposed to buy 75 percent of Forestar Group for $16.25 per share in cash.
TG Therapeutics Inc (NASDAQ: TGTX) shares rose 12 percent to $15.50 in pre-market trading after the company said Phase 3 GENUINE trial met primary endpoint with TG-1101 + ibrutinib increasing overall response rate by >70 percent versuss ibrutinib alone.
Gigamon Inc (NYSE: GIMO) gained 10.8 percent to $43.55. Reuters reported that Gigamon is exploring a potential sale.
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) rose 8.7 percent to $6.00 in pre-market trading after the company announced Rapivab pediatric sNDA acceptance by the FDA.
Array Biopharma Inc (NASDAQ: ARRY) rose 7.2 percent to $8.77 in pre-market trading after gaining 5.68 percent on Friday.
Ehi Car Services Ltd (ADR) (NYSE: EHIC) shares rose 6.4 percent to $10.76 in pre-market trading. eHi Car Services posted Q1 earnings of $0.06 on sales of $89.43 million.
Skyworks Solutions Inc (NASDAQ: SWKS) rose 5.9 percent to $114.79 in pre-market trading after gaining 0.69 percent on Friday.
- [By ]
1. Sorl Auto Parts (Nasdaq: SORL)
Shares of this Chinese automobile brake and safety equipment maker are setting up to be an ideal breakout candidate. Sorl supplies automobile brakes and safety equipment to over 75 original equipment manufacturers, most of them in China.
- [By Lisa Levin]
Sorl Auto Parts, Inc. (NASDAQ: SORL) shares shot up 19 percent to $7.15 after the company reported strong results for its third quarter and raised its FY17 outlook. The company reported Q3 EPS of 44 cents, up from 17 cents in the same quarter of last year. The company reported sales of $101.33 million, up from $63.7 million in the same quarter of last year.
- [By Monica Gerson]
Sorl Auto Parts, Inc. (NASDAQ: SORL) is expected to post its quarterly earnings at $0.20 per share on revenue of $55.35 million.
Clean Diesel Technologies, Inc. (NASDAQ: CDTI) is projected to post a quarterly loss at $0.18 per share on revenue of $10.25 million.
Top 5 Penny Stocks To Own For 2018: Atlas Air Worldwide Holdings(AAWW)
- [By Paul Ausick]
Amazon leased 40 planes from Air Transport Services Group Inc. (NASDAQ: ATSG) and Atlas Air Worldwide Holdings Inc. (NASDAQ: AAWW). Each carrier is supplying 20 Boeing jets to Prime Air.
Top 5 Penny Stocks To Own For 2018: Rowan Companies Inc.(RDC)
- [By Jon C. Ogg]
Rowan Companies plc (NYSE: RDC) closed up 15.1% at $17.84 and the 5.2 million shares traded was just 1.3 times normal trading volume. Rowan has a consensus analyst price target of $15.04 and a 52-week trading range of $10.67 to $20.88. The company has a total market cap of $2.2 billion.
- [By Ben Levisohn]
Go back a year, and offshore drillers like Noble (NE), Rowan (RDC), Transocean (RIG) and Atwood Oceanics (ATW) had been all but written off–until they weren’t anymore. Since then, investors have been rewarded for picking winners in the group from the losers, as Atwood Oceanics has more than doubled, Transocean has gained 34%, and Rowan has risen 42%, while Noble and Diamond Offshore Drilling (DO) have dropped 13%.
Top 5 Penny Stocks To Own For 2018: QC Holdings Inc.(QCCO)
- [By Monica Gerson]
QC Holdings (NASDAQ: QCCO) shares tumbled 2.58% to reach a new 52-week low of $2.27. QC Holdings’ trailing-twelve-month profit margin is 0.60%.
NewLead Holdings (NASDAQ: NEWL) shares dipped 6.56% to touch a new 52-week low of $0.08 after the company completed the acquisition of titles in the Viking Mine located in Kentucky, USA.
Top 5 Penny Stocks To Own For 2018: Archer-Daniels-Midland Company(ADM)
- [By WWW.MONEYSHOW.COM]
Aflac (AFL) — yielding 2.5%
Archer-Daniels Midland (ADM) — yielding 2.7%
Chevron (CVX) — yielding 3.8%
ExxonMobil (XOM) — yielding 3.6%
Genuine Parts (GPC) — yielding 2.7%
Johnson & Johnson (JNJ) — yielding 2.8%
T. Rowe Price (TROW) — yielding 3.2%