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Stock Market & Financial Investment News

News Breaks
June 26, 2014
20:25 EDTCMC, CMC, KBH, KBH, FINL, FINL, AZZ, AZZNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Commercial Metals Company (CMC), consensus 29c; KB Home (KBH), consensus 20c; Finish Line (FINL), consensus 21c; and AZZ Incorporated (AZZ), consensus 54c.
News For CMC;KBH;FINL;AZZ From The Last 14 Days
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September 25, 2015
16:17 EDTFINLOn The Fly: Top stock stories for Friday
Stocks opened with sharp gains the day after Fed Chair Janet Yellen gave some clarity to the market by suggesting the Fed will most likely raise interest rates by the end of the year. During afternoon trading, the news flow slowed and the volume lightened on the buy side, leaving the sellers with the upper hand. The Nasdaq was the first index to move into negative territory, led by broad weakness in biotech stocks, while the Dow was helped to stay in the green by a big post-earnings move higher in Nike (NKE). The averages limped into the close, leaving the market with an interesting set-up to begin next week. Outside of stock news, it was certainly a headline packed day, as Speaker of the House John Boehner announced that he will resign at the end of October, Chinese President Xi Jinping continued his U.S. visit and Pope Francis addressed the United Nations while spending a second day in New York City. ECONOMIC EVENTS: In the U.S., the third estimate of second quarter GDP showed the economy grew 3.9% quarter-over-quarter, versus expectations for the GDP growth estimate to stay at 3.7%. Personal consumption in Q2 is now believed to have grown 3.6%, up from the prior estimate of 3.1%. The final University of Michigan consumer sentiment reading for September came in at 87.2, which was down from August's 91.9 but above the expected 86.2 reading... Federal Reserve Chair Janet Yellen said during a speech at UMass Amherst last night that the central bank remains inclined to hike rates this year. Yellen's remarks were incrementally hawkish, but welcomed by the market, since they helped clarify the message the Fed delivered a week ago. Of note, the Fed chair paused multiple times toward the end of her speech and received medical attention afterward, but returned to her regular schedule later in the evening, with the bank explaining that Yellen was dehydrated after a long day but was otherwise fine. COMPANY NEWS: Nike jumped $10.23, or 8.9%, to $125.02 after Thursday night's report of better than expected earnings and futures orders prompted numerous price target hikes at Street research firms. Additionally, Sterne Agee upgraded Nike to Buy from Neutral, saying it thinks the company is benefiting from its "global grass roots engagement with its customers," which enables it to meet its customers' needs and determine to what extent it can raise prices. The firm, which thinks that the company is continuing to gain share, has a $150 price target on the athletic gear giant... Biotech stocks, which were already having a bad week, ended the week on a down note, as the iShares NASDAQ Biotechnology Index (IBB) fell 4.9%, giving it a weekly decline of about 13%. Among the biggest large-cap losers in the space were Vertex (VRTX), which fell 7%, Regeneron (REGN), which dropped 6% and Celgene (CELG), which slid 4.8%. MAJOR MOVERS: Among the notable gainers was Jabil Circuit (JBL), which advanced $2.38, or 12.2%, to $21.88 after it reported higher than expected earnings and gave guidance for its November quarter that was significantly above expectations. Also higher was Cirrus Logic (CRUS), which gained $3.90, or 14.4%, to $31.03 after tear downs of Apple's (AAPL) iPhone 6S and 6S Plus led analysts to conclude that the chipmaker appears poised to obtain more revenue from the new devices than from the previous generation of the market-leading smartphone. Among the noteworthy losers was Finish Line (FINL), which fell $4.86, or 19.6%, to $19.91 after reporting second quarter revenue that missed expectations and saying it expects adjusted earnings this fiscal year to increase in a low single to mid single digits percentage from last year. Also lower following its earnings report was smartphone and software maker BlackBerry (BBRY), which slid 7.68% to $6.49 after the company posted a second quarter loss that was steeper than analysts expected. BlackBerry also confirmed press reports that it plans to launch a new phone that uses Google's (GOOG) Android operating system instead of its own proprietary BB10 OS. Shares of Aratana Therapeutics (PETX), which dropped $6.81, or 38.97%, to $10.68 after the company said that, based on "mixed clinical and scientific results," it does not believe that canine lymphoma products AT-004 and AT-005 in their current, first-generation forms will capture the desired lymphoma market opportunity. INDEXES: The Dow rose 113.35, or 0.7%, to 16,314.67, the Nasdaq fell 47.98, or 1.01%, to 4,686.50, and the S&P 500 added/slipped 0.90, or 0.05%, to 1,931.34.
10:12 EDTFINLHigh option volume stocks
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09:59 EDTFINLFinish Line tumbles after results
Shares are down over 13% to $21.48 at time of writing. At that price next support is at $20.82. Resistance is at $22.27.
08:58 EDTFINLFinish Line sees ability to increase gross margins in 2H
08:58 EDTFINLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Nike (NKE), up 8% after last night's better than expected earnings report and futures orders prompted numerous price target hikes at Street research firms. Among them, Deutsche Bank raised it price target on Nike shares to $140 and UBS bumped its target up to $137... Jabil Circuit (JBL), up 9%... BlackBerry (BBRY), up 1%. ALSO HIGHER: Bellerophon Therapeutics (BLPH), up 67% after announcing data from an interim analysis of the company's Phase 2 long-term extension study of INOpulse for the treatment of Pulmonary Arterial Hypertension... Marvell (MRVL), up 5% after announcing a global headcount reduction, plans to downsize its mobile platform business... PayPal (PYPL), up 3% after being initiated with a Buy rating at Canaccord. DOWN AFTER EARNINGS: Pier 1 Imports (PIR), down 15% after Q2 results, FY16 guidance cut... Finish Line (FINL), down 5.5%. ALSO LOWER: Internap (INAP), down 17% after cutting its revenue forecast and having its shares downgraded at Oppenheimer.
08:53 EDTFINLFinish Line says September comps month to date up low single digits
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07:10 EDTFINLFinish Line sees FY16 adjusted EPS up in low single to mid single digits
Sees FY16 adjusted EPS to increase in low single to mid single digits vs. FY15 adjusted EPS of $1.67, consensus $1.80. Sees FY16 comparable sales to be up in low single to mid single digit range.
07:08 EDTFINLFinish Line reports Q2 EPS 57c, consensus 57c
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September 24, 2015
19:52 EDTFINLAthletic footwear stocks higher after Nike's earnings report
Athletic footwear makers Skechers USA (SKX) and adidas (ADDYY), sports apparel maker Under Armour (UA), and shoe retailers Foot Locker (FL) and Finish Line (FINL) were all higher in after-hours trading after Nike (NKE) reported better-than-expected first quarter results. WHAT'S NEW: After the bell, Nike reported Q1 earnings per share and revenue of $1.34 and $8.4B, respectively, versus analyst expectations of $1.19 and $8.22B. The company added that it saw mid-single digit revenue growth in both the second quarter and for fiscal year 2016, as well as Q2 gross margins expanding by 25 bps and FY16 gross margins expanding by 50 bps. PRICE ACTION: Nike rose about 8% in after-hours trading, while Skechers USA gained just over 2%, adidas rose fractionally, Under Armour was higher by 2%, Foot Locker gained 1.5%, and Finish Line was up almost 6%.
15:00 EDTFINLNotable companies reporting before tomorrow's open
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12:02 EDTKBHKB Home says may have 'slight' sequential decline in year-end community count
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11:58 EDTKBHKB Home sees 2015 average community count expansion in excess of 20% vs. 2014
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11:54 EDTKBHKB Home sees Q4 housing revenue $1.04B-$1.1B
Says in "active" negotiations on additional land sales, but doesn't see closing any deals in Q4. Sees housing gross profit margin increasing sequentially in Q4. Still sees housing gross profit margin in excess of 18% in Q4. Sees Q1 housing gross profit margin in mid 16% range
11:50 EDTKBHKB Home says entering Q4 from 'position of strength'
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08:32 EDTKBHKB Home: Q3 results showed broad-based improvement in virtually all metrics
"Our third quarter results showed broad-based improvement in virtually all key operational and financial metrics across our four regions," said Jeffrey Mezger, president and CEO. "In particular, we achieved appreciable growth in homes delivered, revenues and pretax earnings in the third quarter largely through the execution of our core strategies. This performance reflects our measurably expanded community count and success in converting the robust backlog we built during the first half of this year into deliveries. Moving forward, we remain focused on improving profitability by expanding our housing gross profit margin and increasing operating leverage as we continue to build up the scale of our business. Based on the progress we have made on our strategic priorities, our significantly higher backlog, and the continued improvement in housing market fundamentals, we are anticipating a strong finish to the year. Furthermore, we expect to maintain this momentum into 2016."
08:31 EDTKBHKB Home reports Q3 EPS 23c, consensus 22c
Reports Q3 revenue $843.2M, consensus $818.53M. Housing revenues increased 36% to $798.6 million from $586.2 million for the corresponding period of 2014, reflecting greater delivery volume and a higher overall average selling price. The Company delivered 2,236 homes, up 25% from 1,793 homes in the year-earlier quarter. The overall average selling price rose 9% to $357,200, compared to $327,000 a year ago, as average selling prices increased in each of the Company's four regions. Land sale revenues totaled $41.6 million, reflecting activity in the Company's West Coast, Southwest and Southeast regions. There were no land sales in the year-earlier period. Potential future housing revenues in backlog grew 44% to $1.59 billion at August 31, 2015, from $1.10 billion at August 31, 2014, reflecting substantial year-over-year increases in each of the Company's four regions. Net orders grew 19% to 2,167 for the quarter, compared to 1,827 in the year-earlier quarter. The cancellation rate as a percentage of gross orders of 30% was nearly even with the third quarter of 2014, and as a percentage of beginning backlog was 20% versus 24% a year ago. The Company's overall average community count for the third quarter increased 30% to 257 from 197 for the year-earlier quarter.
September 23, 2015
15:02 EDTKBHNotable companies reporting before tomorrow's open
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14:41 EDTKBHKB Home volatility elevated into Q3 and outlook
KB Home October call option implied volatility is at 51, November is at 44; compared to its 52-week range of 25 to 53, suggesting large near term price movement into the expected release of Q3 results on September 24.
13:23 EDTFINLFinish Line volatility elevated into Q2 and outlook
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06:33 EDTFINLFinish Line upgraded to Outperform from Market Perform at FBR Capital
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