Ralph Lauren Corp (NYSE:RL) reported higher-than-expected fiscal Q2 earnings from the designer of apparel and accessories, as its revenue for the quarter slightly missed the Street view and the company cut its fiscal 2015 revenue view while forecasting Q3 sales below analysts' expectations. For the quarter ended Sept. 27, 2014, the company's net income was $201 million, or $2.25 per diluted share, compared with $205 million, or $2.23 per diluted share, for the quarter ended Sept. 28, 2013. The per-share earnings were up despite the decline in overall net income because the number of diluted shares outstanding was 3.3% lower in the latest period. Analysts polled by Capital IQ were looking for $2.05. Net sales rose to $1.95 billion from $1.87 billion a year earlier, slightly missing the $2.02 billion expected by the Street. Same-store sales rose 1% on both a reported basis and a constant-currency basis. Wholesale net sales climbed 1.7% while retail net sales jumped 6.5%."Despite the challenging global macroeconomic environment, we continue to experience strong momentum in key areas of strategic focus, including double-digit revenue growth internationally and for our e-commerce business," said Jacki Nemerov, Ralph Lauren Corp (NYSE:RL)president and chief operating officer. "We're also delivering improved profitability for underlying operations, which is helping to fund investments in our longer-term objectives. I am confident we are well-positioned for the upcoming Holiday season, supported by the distinctiveness of our luxury lifestyle positioning and the desirability of our products."Still, the company cut its forecast for fiscal 2015, citing recent, unfavorable foreign-currency movements. It now expects consolidated net revenue to increase by 5% to 7%, down from its previous outlook for revenue growth of 6% 8%. Analysts recently were expecting growth of 6.6% to $7.94 billion. For fiscal Q3, Ralph Lauren expects consolidated net revenue to increase by 3% to 5%, including a 200 basis point net negative impact from foreign-currency translation. Analysts had been predicting $2.18 billion, up 8.2% from the prior-year period.Orbital Sciences Corp (NYSE:ORB) shares tumbled nearly 15% early Wednesday after a failed attempt of its Antares rocket on Tuesday, which exploded seconds after liftoff from NASA's Wallops Flight Facility in Virginia. The space technology company issued a statement Wednesday morning confirming that the launch was not successful. Orbital Sciences said it has formed an anomaly investigation board to probe the cause of the mishap."It is far too early to know the details of what happened," said Mr. Frank Culbertson, Orbital's Executive Vice President and General Manager of its Advanced Programs Group, adding, "As soon as we understand the cause we will begin the necessary work to return to flight to support our customers and the nation's space program." Orbital Sciences Corp (NYSE:ORB) shares are moving within a 52-week range of $22.02 - $34.16.Coverage of online retailer Amazon.com, Inc. (NASDAQ:AMZN) has been initiated by analysts at Morgan Stanley with an overweight rating. The firm set its price target on the stock at $420 a share, which marks a potential upside of 42% from its Tuesday closing price. Shares of Amazon.com, Inc. (NASDAQ:AMZN) are moving within a 52-week trading range of $284.00 - $408.06.
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