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Fossil crushed as wearable watch initiative disappoints

Published 08/09/2017, 09:03 AM
© Reuters.  Fossil crushed as wearable watch initiative disappoints
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  • Fossil (NASDAQ:FOSL) is in a downward spiral after the company's push into wearable watches bruises Q2 earnings.
  • The company has failed to gain significant traction against the Apple (NASDAQ:AAPL) Watch despite scaling up investments.
  • A number of investment firms have dropped their price targets (Jefferies to $13 from $16, Telsey to $11 from $13, Wells Fargo (NYSE:WFC) to $7 from $8) on Fossil today on a lack of faith in a second-half turnaround.
  • Shares of Fossil are down 23.48% premarket to $9.06 vs. a 52-week trading range of $8.98 to $36.87.
  • Now read: Brunswick Corporation 2017 Q2 - Results - Earnings Call Slides


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