They are coming out with earnings on 03/09/09. I believe that they are going to beat earnings or atleast better than the street expected. The stock has been acting bullish with volume coming in and option activity starting to pick up. I like the March 7.50x calls @( .25 ). A define break above 6.50 will have this baby ripping higher.
S&P Withdraws AnnTaylor's Credit Rating At Retailer's Request
Tuesday 02/24/2009 5:01 PM ET - Dow Jones News
By Karen Talley Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--AnnTaylor Stores Inc. (ANN) has taken the unusual step of withdrawing the debt rating it was issued by Standard & Poor's Ratings Services, the credit agency that rates companies' debt according to its investment quality. In a one-sentence statement, Standard & Poor's said it withdrew its rating at the retailer's request. Representatives for AnnTaylor didn't return phone calls requesting comment. Jackie Oberoi, the S&P credit analyst who follows AnnTaylor, said the women's apparel retailer carries a non-investment grade rating of BB- but has no debt outstanding, aside from a a credit line which isn't rated. Oberoi said she wasn't aware of a specific reason why AnnTaylor made the request for the ratings withdrawal. S&P in November revised its outlook for AnnTaylor's rating to negative from stable, but did affirm its 'BB-' corporate credit rating for the company. The revised outlook was spurred by AnnTaylor's "very weak third-quarter performance, including net sales that declined 12% from the third quarter of 2007," Oberoi said at the time. "We expect continued soft performance through the fourth quarter, which is likely to result in credit metrics that will be weak for the rating," Oberoi said. "Further weakness into 2009 is also likely." Early this month, Piper Jaffray had positive things to say about AnnTaylor, raising its shares to buy from neutral. Piper Jaffray said the stock was inexpensive relative to earnings and cash and raised its 2010 estimates, citing AnnTaylor's cost-savings moves. "A wave in population of 30- to 41-year-olds is on the horizon," Piper Jaffray said. "Ann Taylor caters to this demographic." Shares of AnnTaylor were down 20 cents, or 3%, at $6.28 in after-hours trading. The stock rose 58 cents, or 9.8%, to $6.48 in regular trading. -By Karen Talley, Dow Jones Newswires; 201-938-5106; karen.talley@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/nae/al?rnd=IopGeH4wwr6oU0nP2llg3Q%3D%3D. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires02-24-09 1701ETCopyright (c) 2009 Dow Jones & Company, Inc
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