FRANCESCA'S HOLDINGS CORPORATION(FRAN) : Analyst Adrienne Tennant tells salesforce FRAN posted $0.20 Q3 EPS, in line with Street, co. guidance of $0.19-$0.20. But, as he expected, co. guided Q4 EPS below Street's $0.34 to $0.25-$0.29, based on sales of $90M-$95M, assuming 3% to 8% decrease in comparable sales. In NT, he's cautious based on tough growth compares, challenging mall environment, expects comps to remain negative for foreseeable future as segment remains under pressure, as FRAN works through jewelry transition, gift improvement. Cuts $1.20 FY 14 (Jan) EPS est. to $1.18, $1.48 FY 15 to $1.43.
CLEAR CHANNEL OUTDOOR HOLDINGS INC.(CCO) : Analyst David Miller tells salesforce downgrading CCO stock after what he would qualify as an inefficient move to upside earlier in week after announcement by CCO's parent co., CC MEDIA HOLDINGS, that certain maturities housed within parent structure, set to come due between '14-'18, will now be pushed out beyond '19. Notes series of deals, which essentially amounts to a massive re-fi, buys the parent (not CCO) more time to get its house in order, but will also radically increase interest expense for parent at a time when free cash from ops is essentially zero.
RECEPTOS, INC.(RCPT) : Analyst Marko Kozul tells salesforce RCPT's announcement that interim RPC-1063 (1063) Ph. II MS trial data show no surprises, maintains a competitive and differentiated profile vs. other S1P receptor modulators leads him to marginally increase his estimated probability of success for the program that in turn drives his new $45 target (from $30). Recommends investors buy shares as they likely stand to benefit from multiple potential upside data catalysts in '14 incl. potential 1063 partnership (or co. M&A); positive topline Ph. II data from MS trial mid-'14.
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