With core business clearly deteriorating, Abercrombie & Fitch Co. (NYSE: ) bulls have been shifting their attention to recent market buyout rumors. Unfortunately, the M&A route may be a dead-end for Abercrombie as well, Morgan Stanley analyst Kimberly Greenberger said. Abercrombie just reported a wider-than-expected $0.91 per share loss in fiscal fourth quarter, and Greenberger said there is no reason for optimism that the company can turn around its business anytime soon. Morgan Stanley cut its Q2 EPS estimates from -$0.19 to -$0.39. The firm now expects a full-year EPS loss of $0.02 compared to its previous estimates of +$0.30. Abercrombie shares were seen down 6.33 percent in Friday trading and are now down 37.64 percent over the past 12 months, the stock will likely continue to trade based on M&A rumors in the near-term, Greenberger stated.Source