What's Shaking: Tuesday's Early Movers
Take a look at some of Tuesday morning's early movers:
Tiffany — the luxury retailer has cut its guidance for the fiscal year ending January 31 to $3.60 to $3.65 a share from its prior $3.70 to $3.80 and Street estimates of $3.76 a share. The move comes as Tiffany reports lower-than-expected holiday season sales.
Jones New York — the clothing retailer now expects $892 million to $895 million in fourth-quarter revenues versus prior guidance of $918 million to $961 million and analyst estimates of $1.02 billion. The company cites a challenging economic environment.
Netflix — Bank of America/Merrill Lynch has downgraded the stock to “underperform” from “neutral,” calling the stock’s 42 percent year-to-date advance “unwarranted.”
Genesco — the shoe retailer now sees fourth quarter earnings per share of $1.63 to $1.68 a share, versus analyst estimates of $1.60 a share, citing strong sales.
Cirrus Logic — the chipmaker is projecting better-than-expected revenue for both its fiscal third quarter and the current fourth quarter.
Liz Claiborne — company chief financial officer Andrew Warren is leaving to assume the CFO position at Discovery Communications. At the same time, Liz Claiborne also cut its 2012 outlook.
Juniper Networks — the company is lowering its fiscal fourth quarter outlook because of weaker demand for its network routers. It now sees fourth-quarter earnings per share of $0.26 to $0.28 vs. consensus estimates of $0.34.
Alcoa — the Dow Jones Industrial Average component reported a quarterly loss of $0.03 a share, in line with revised expectations. Revenue, however, came in above Wall Street estimates.
Zynga — Piper Jaffray initiates coverage on Zynga with an “overweight” rating and an $11 price target.
Lululemon — the althletic apparel retailer has raised fiscal fourth quarter earnings per share guidance to $0.47 to $0.49 versus Street estimates of $0.42.
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