Lazard Capital Markets doubled its price target on Quiksilver Inc‘s stock, saying the apparel maker would be helped by cost-cuts and a weaker dollar.
The company’s shares rose as much as 8 percent to $3.80 in early trade Monday on the New York Stock Exchange.
Lazard said it estimates second-quarter earnings of 5 cents a share, which it believes to be conservative. Quiksilver ( ZQK – news – people ) is scheduled to report results Monday after market close.
‘Our annual estimate assumes $40 million in cost saves, but Quiksilver noted … that there were still opportunities to eliminate redundancies in its global structure and to reduce costs in the Americas, which means a second cut could lead to higher guidance and raised estimates,’ the brokerage, which raised its price target to $6 from $3, said in a note to clients.
If Quiksilver manages to successfully restructure or refinance its debts, it would not be necessary for the company to mull over the sale of its brands, the brokerage, which has a ‘buy’ rating on the stock, added.
Quiksilver, which began making outdoor sports and surfing apparel in the 1970s, said in March it plans to sell some of its assets in an attempt to prop up liquidity.
Dragon stoked to announce the newest addition to it’s stellar team: Dion Atkinson
The South Oz star joins the likes of Mick Fanning, Rob Machado, Ace Buchan, Owen Wright and Dusty Payne as well as strong Aussie team including Jayke Sharp, Courtney Brown and Jack Freestone.
Atkinson only nearly missed the WCT in 2008 and has already got 2009 off to an amazing start with a 5th at the Cold Water Classic in Tassie followed by a 3rd at Margaret River. Those two results placed him 3rd on the ‘QS after the Aussie leg.
Since then he’s had two more good results and is currently sitting in 16th with just four results (seven count toward the final tally). Atkinson said he was amped to join the Dragon Team.
“I am stoked to join the team I have been a fan of the sunnies for a while,” he said. “When I was young I used to froth on Fanning, so it’s pretty cool to be on the same team.”
Atkinson is off to the Maldives thisek to compete in the SriLankan Pro and hopefully continue his run off success. “I have had a pretty good start to the year and I want to keep that going, I was five points of the WCT last year, so hopefully I will do five better this year!”
Smart Girls Who Surf, a woman-owned business based in Orange County, debuts its latest line of healthy skin care products just in time for summer 2009. All Smart Girls products — SPF 30+ sunblock, lotions, hair care, soaps and lip balms — are certified chemical free, paraben free and environmentally friendly. Detailed information is available at www.smartgirlswhosurf.com
“The majority of sun care products on the market today have harmful chemicals that pollute our waters and are dangerous to our health,” said Smart Girls President Jennifer Taylor. “Our sunblocks are completely natural, loaded with antioxidants, chemical free, water resistant and won’t sting your eyes.”
Unlike many sunscreens which are mass-produced overseas and whose effectiveness diminishes rapidly, Smart Girls’ formulas are created with the natural active ingredients Zinc Oxide and Titanium Dioxide to provide broad spectrum UVA/UVB protection. Used in combination, Zinc and Titanium provide a durable, long-lasting barrier to the sun’s most harmful rays. Zinc Oxide offers the added benefit of acting as an anti-inflammatory for sensitive skin and has shown to be an effective antibacterial for acne.
Taylor, an entrepreneur and mother of two young children, has turned her vision to promote healthy skin care awareness into a forward-thinking brand with a purpose. Distributed through specialty retailers on both coasts and Hawaii, Smart Girls and its sister brand for boys, Surf-Vival, are tested on surfers, not animals, and are safe for kids (and adults) of all ages. Smart Girls Who Surf and Surf-Vival product lines feature:
Broad spectrum UVA/UVB SPF 30+ Sunblock
After Sun Soothing Lotion
Care for Hair Sun Protector (SPF 7 Leave-in conditioner and detangler)
All natural glycerin Soap for Surfers
SPF 15 Lip Balms
FanSea Face SPF 20 Skin-Perfecting Tinted Moisturizers
Grab-N-Go Travel Kit (2 oz. FAA approved sizes)
Sun Savvy Kit & Surf-Vival Kit
About Smart Girls Who Surf
Smart Girls Who Surf is a Laguna Beach-based natural skin care company. Smart Girls began several years ago as a mother’s quest for a healthy alternative to commercial sunscreens on the market. Following extensive research and development, Smart Girls created a line of earth-friendly products for men and women that nurture the skin and protect the environment without using toxic chemicals or synthetic preservatives. For more information please visit www.smartgirlswhosurf.com
