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FOSL

Fossil

$11.84

0.64 (5.71%)

, PIR

Pier 1 Imports

$4.60

-0.03 (-0.65%)

09:06
08/09/17
08/09
09:06
08/09/17
09:06

Fossil announces resignation of Secor as CFO, Boyer named as replacement

Last night, Fossil Group (FOSL) announced that Dennis Secor, the company's current Executive VP, Chief Financial Officer and Treasurer, has decided to relocate back to California for personal reasons. The company also announced that Jeffrey Boyer, currently a member of the company's board, has been appointed EVP, CFO and Treasurer effective October 16. Effective with the appointment of Boyer on October 16, Secor will resign as CFO and assist Boyer as he transitions into his new role with the company. Boyer will resign from the company's board, where he currently serves as Chairman of the Finance Committee and member of the Audit Committee, effective October 15. Boyer has served as EVP and CFO for Pier 1 Imports (PIR) since June 2015, Fossil noted.

FOSL

Fossil

$11.84

0.64 (5.71%)

PIR

Pier 1 Imports

$4.60

-0.03 (-0.65%)

FOSL Fossil
$11.84

0.64 (5.71%)

08/09/17
BOFA
08/09/17
NO CHANGE
Target $7
BOFA
Underperform
Fossil price target cut to $7 from $10 at BofA/Merrill
BofA/Merrill analyst Heather Blasky lowered Fossil's price target to $7 from $10 saying weak traditional watch sales continued to offset wearables growth as Q2 revenues missed across all regions. The analyst said gross margin erosion moderated but promotional activity remains elevated and he is concerned about deflationary pressures. Blasky reiterated his Underperform rating and the company is not immune to the "waning" watch cycle.
06/20/17
06/20/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Outperform from Market Perform at Cowen with analyst Andrew Charles saying value and digital are multi-year growth drivers. The firm's proprietary survey data indicates McDonald's value perceptions versus quick service peers has improved since last September when it began to market both the McPick 2 for $5 value platform and discounts only available through the app. 2. Costco (COST) upgraded to Buy from Neutral at Northcoast with analyst Chuck Cerankosky saying Costco is able to combine value merchandising with an upscale product selection in a destination shopping format, is taking market share in fresh food categories, and is shown to be relatively immune to food deflation over the past several quarters. 3. Fossil (FOSL) upgraded to Neutral from Underperform at Buckingham with the firm's analyst saying shares have pulled back below its $10 price target reaching levels not seen since the fiscal 2009 recession. 4. Goodyear Tire (GT) upgraded to Buy from Hold at Jefferies with analyst Ashik Kurian citing "improving volume momentum and strong cash returns." 5. Clovis (CLVS) upgraded to Buy from Neutral at Janney Capital with analyst Debjit Chattopadhyay citing the ARIEL3 data, which he said addressed the PARP differentiation question. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/20/17
BUCK
06/20/17
UPGRADE
BUCK
Neutral
Fossil upgraded to Neutral from Underperform at Buckingham
Buckingham upgraded Fossil to Neutral saying shares have pulled back below its $10 price target reaching levels not seen since the FY09 recession. The firm's analyst believes Fossil's negative thesis has played out, limiting additional near-term negative catalysts to move the stock lower from here.
04/28/17
OTRG
04/28/17
NO CHANGE
OTRG
Fossil's overall sales continue to struggle, says OTR Global
OTR Global's distributor checks indicate Fossil continues to struggle with overal sales during the quarter as slowing demand for smartwatches contributed to general weakness as traditional watch sale declined.
PIR Pier 1 Imports
$4.60

-0.03 (-0.65%)

08/09/17
LOOP
08/09/17
NO CHANGE
Target $8
LOOP
Buy
Pier 1 Imports price target lowered to $8 on CFO uncertainty at Loop Capital
Loop Capital analyst Anthony Chukumba said he is "rarely happy to see a CFO depart," but he also noted that Pier 1 Imports has continued to "stumble" under outgoing CFO Jeff Boyer, while his departure allows new CEO Alasdair James to bring in his own person to take the post. Noting the increased uncertainty that the CFO departure brings, Chukumba lowered his price target to $8 from $10 on Pier 1 shares, but keeps a Buy rating on the stock, citing the stock's "significant discount" to the average valuation of peer home furnishings and home goods retailers.
06/29/17
06/29/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Monro Muffler (MNRO) downgraded to Equal Weight from Overweight at Stephens. 2. Pier 1 Imports (PIR) downgraded to Hold from Accumulate at Johnson Rice. 3. Emcore (EMKR) downgraded to Neutral from Buy at B. Riley with analyst Dave Kang citing valuation and the cyclical nature of the CATV business. 4. INC Research (INCR) downgraded to Hold from Buy at Jefferies with analyst David Windley saying near term integration risk from the inVentiv merger is not fully incorporated into the shares. 5. Precision Drilling (PDS) downgraded to Neutral from Overweight at Piper Jaffray with analyst John Daniel saying land drilling stocks screen fairly valued. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/29/17
JRCO
06/29/17
DOWNGRADE
JRCO
Hold
Pier 1 Imports downgraded to Hold from Accumulate at Johnson Rice
06/29/17
LOOP
06/29/17
NO CHANGE
Target $10
LOOP
Buy
Pier 1 Imports 'disappointing' report mainly due to furniture, says Loop Capital
Loop Capital analyst Anthony Chukumba said he is "comforted" by the fact that Pier 1 Imports' disappointing Q1 results and Q2 guidance were largely driven by underperformance in one product category, outdoor furniture. Chukumba, who notes Pier 1 is much less dependent on furniture sales in the second half of the year than in the first, also said he was encouraged by the newly appointed CEO's strategic plan. He lowered his price target on Pier 1 to $10 from $12, but keeps a Buy rating on the shares, which are down 10% to $4.84 in pre-market trading.

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IBM

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$18.21

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Time Warner

$88.72

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, T

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$34.51

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$19.06

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$38.21

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MKSI

MKS Instruments

$103.50

-0.35 (-0.34%)

, BRCD

Brocade

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MKSI

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Brocade

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LGND

Ligand

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LGND

Ligand

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Ligand

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MBIA

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RBCN

Rubicon

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