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MARKET CURRENTS

  • 7:32 AM Target (TGT): Q1 EPS of $1.04 beats by $0.03. Revenue of $16.8B (+6% Y/Y) in-line. Shares +3% premarket. (PR) Comment! [Earnings, On the Move]
  • 7:30 AM GE Capital will pay to parent GE a $475M dividend in Q2, and a $4.5B special dividend in 2012 - the first such payments since they were suspended in 2009. Shares +2.7% premarket. (PR) Comment! [Breaking News, Financials]
  • 7:25 AM More on Abercrombie & Fitch's (ANF) Q1: Comparable store sales -5% Y/Y, led lower by Europe. Expects same-store sales to fall at a mid-single digits rate. Sees full year EPS of $3.50-$3.75, with lower sales offset by higher gross margin. Shares -0.9% premarket. (PR) Comment! [Earnings, On the Move]
  • 7:24 AM Chico's FAS (CHS): Q1 EPS of $0.32 beats by $0.02. Revenue of $651M (+21% Y/Y) beats by $21M. (PR) Comment! [Earnings]
  • 7:24 AM "Our biggest trading partner is tearing itself apart without any obvious solution," says BoE Governor King at a press conference. He's confident the U.K. economy can get back to its pre-crisis path, but it may take 10-20 years. As for recent strength in sterling: "A weaker pound is a vital part of the U.K.'s rebalancing." Sounds like additional QE remains on the table in the U.K. 1 Comment [Global & FX]
  • 7:16 AM Shares of Fossil (FOSL) move up 3.5% in premarket trading after Citigroup upgrades to Buy. Last week, Benchmark also dipped its toes in the FOSL pool after the company's earnings warning scared off investors en masse. 1 Comment [On the Move, Consumer]
  • 7:14 AM Greece's party leaders agree on the appointment of Chief Justice Pikrammenos to lead a caretaker government until new elections can take place, reports Dow Jones. Comment! [Global & FX, Breaking News]
  • 7:11 AM ABIOMED (ABMD): Q1 EPS of $0.07 in-line. Revenue of $37.3M (+30.9% Y/Y) beats by $2.3M. (PR) Comment! [Earnings, Healthcare]
  • 7:10 AM Abercrombie & Fitch (ANF): Q1 EPS of $0.03 beats by $0.02. Revenue of $921M (+10% Y/Y) beats by $30M. (PR) Comment! [Earnings]
  • 7:09 AM Talbots (TLB) agrees to extend the exclusivity period for negotiations with acquirer Sycamore Partners. The new expiration date is May 22. Comment! [Consumer]
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