Fly News Breaks for August 16, 2019
Aug 16, 2019 | 07:37 EDT
Credit Suisse analyst Michael Binetti downgraded Tapestry to Neutral and lowered his price target to $22 from $38. In a research note to investors, Binetti says that while he remains encouraged by stability at Coach despite a volatile macro, his outlook for Kate Spade is now significantly reduced due to a big Q4 comp miss, deteriorating near-term trends, and elevated inventories.
News For TPR From the Last 2 Days
Sep 20, 2019 | 10:45 EDT
Bullish option flow detected in Tapestry with 14,706 calls trading, 5x expected, and implied vol increasing over 2 points to 37.36%. 9/27 weekly 26 calls and Sep-19 26 calls are the most active options, with total volume in those strikes near 11,300 contracts. The Put/Call Ratio is 0.01. Earnings are expected on November 5th.