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Stock Market & Financial Investment News

News Breaks
May 20, 2014
11:39 EDTHIBB, ELY, UA, CAB, NKE, DKSDick's weak outlook for hunting, golf weighs on Cabela's, Callaway
Shares of sports and fitness retailer Dick's Sporting Goods (DKS) are sinking after the company's first quarter results and fiscal 2014 outlook trailed analysts' consensus estimates. Shares of a number of the the company's peers are also sliding following Dick's worse than expected outlook, particularly in golf and hunting. WHAT'S NEW: This morning, Dick's reported Q1 adjusted earnings per share of 50c and revenue of $1.44B, trailing expectations of 52c and $1.46B, respectively. The company's Q1 same store sales increased 1.5%, with Dick's citing difficulties in the golf and hunting categories during the quarter. The company forecast Q2 EPS of 62c-67c, far short of the consensus of 82c, with its Q2 SSS seen to increase 1%-3%. For FY14, Dick's expects adjusted EPS of $2.70-$2.85, compared to consensus of $3.08. On the company's conference call, management said the hunting business was expected to continue its negative trend through Q2. They said the golf decline was "more concerning" than the hunting decline, and that the company has not "found the bottom" yet in golf. The company expects earnings will continue to be significantly impacted by the hunting and golf segments, as they represent 30% of annual sales. ANALYST REACTION: Following its report, research firms SunTrust and Sterne Agee both downgraded Dick's Sporting Goods to Neutral from Buy. OTHERS TO WATCH: Shares of Cabelas (CAB), a retailer of hunting, fishing, camping, and related outdoor gear, and Callaway Golf (ELY), which competes with Dick's in the golf space, are both sharply lower this morning, as are other sporting goods retailers like Big 5 Sporting Goods (BGFV), and Hibbett Sports (HIBB). Shares of Nike (NKE) and Under Armour (UA), whose sports apparel and shoes are sold at Dick's, are also lower. PRICE ACTION: In late morning trading, Dick's Sporting Goods fell $8.78, or 16.5%, to $44.38 on nearly five times its average daily trading volume. Earlier in the session, the stock hit a new 52-week low of $44.24. Cabellas shares are down 4.7% to $61.43, Callaway is down 6.7% to $7.79 and Hibbett Sports is down 2.2% to %56.19.
News For DKS;CAB;ELY;NKE;UA;HIBB From The Last 14 Days
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June 25, 2015
16:19 EDTNKENike reports Q4 worldwide futures orders up 2%, up 13% ex-currency changes
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16:18 EDTNKENike repurchased 6.8M shares in Q4
During the fourth quarter, NIKE, Inc. repurchased a total of 6.8M shares for approximately $678M as part of the four-year, $8B program approved by the Board of Directors in September 2012. As of the end of fiscal 2015, a total of 80.9M shares had been repurchased under this program for approximately $6.0B, at an average cost of $73.55 per share.
16:17 EDTNKENike reports inventories $4.3B, up 10% from last year
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16:16 EDTNKENike reports Q4 gross margin up 60 bps to 46.2%
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16:15 EDTNKENike reports Q4 worldwide futures orders up 2%, up 13% ex-currency changes
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16:15 EDTNKENike reports Q4 EPS 98c, consensus 83c
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16:00 EDTNKEOptions Update; June 25, 2015
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15:10 EDTNKENike June weekly 107 straddle priced for 3.3% movement Q4
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15:04 EDTNKENotable companies reporting after market close
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13:04 EDTNKEEarnings Watch: Nike sees Q4 constant dollar revenue growth in low double digits
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13:02 EDTNKENike June weekly volatility increases into Q4 and growth outlook
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11:15 EDTNKENike technical comments before earnings news
The shares are trading close to life highs ahead of earnings, last at $105.47 against that high at $107.45. On strongly bullish news the stock would likely exceed that high by good measure, putting the $110 to $115 area into play as potential upside. If the news is a bearish disappointment, the first support level of significance is at the 50-day moving average at $94.08. A move down to that level would only be a test of support. It would take a move that broke the 50-day to turn the long-term trend to bearish.
June 24, 2015
17:18 EDTUAChamps Sports, Under Armour launch premium store-within-store concept
Champs Sports, a member of the Foot Locker (FL) family, is collaborating with Under Armour (UA) to launch The ARMOURY at Champs Sports. This is the first-of-its-kind, premium store-within-a-store and will open later this month at the Champs Sports store in The Mall in Columbia in Columbia, MD.
15:53 EDTDKS, HIBBSunTrust identifies the most likely M&A activity in specialty retail
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11:16 EDTUAOptions with increasing implied volatility
Options with increasing implied volatility: WMB AMZN CMG BIIB VMW QLIK ISRG FB UA FFIV
06:09 EDTNKEOptions expected to be active
Options expected to be active: NFLX SYY MU MON NKE BBBY LEN NBG GREK
June 23, 2015
08:26 EDTNKENike June weekly volatility increases into Q4 and growth outlook
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07:11 EDTNKENike bar high into Thursday's Q4 results, says Deutsche Bank
Deutsche Bank says that with shares up 11% year-to-date and at all-time highs, the bar is high into Nike's Q4 results on Thursday. The firm raised its Q4 earnings estimate to 84c from 81c and keeps a Buy rating on the name with a $115 price target.
June 22, 2015
10:00 EDTCABOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Akebia (AKBA) initiated with an Outperform at JMP Securities... Barracuda Networks (CUDA) initiated with a Buy at Summit Research... BioLineRx (BLRX) initiated with an Outperform at JMP Securities... Cabela's (CAB) initiated with an Outperform at Barrington... Chemours (CC) initiated with a Buy at Jefferies... Communications Sales & Leasing (CSAL) initiated with an Overweight at JPMorgan... E.W. Scripps (SSP) initiated with a Hold at Evercore ISI... EQT Corporation (EQT) reinstated with an Overweight at Barclays... EQT GP (EQGP) initiated with an Outperform at Credit Suisse... EQT Midstream Partners (EQM) initiated with a Buy at Deutsche Bank... Eagle Pharmaceuticals (EGRX) initiated with an Outperform at RBC Capital... Energen (EGN) initiated with a Buy at KLR Group... Ignyta (RXDX) initiated with an Overweight at Piper Jaffray... International Game (IGT) initiated with a Buy at BofA/Merrill... Leju (LEJU) initiated with an Overweight at Barclays... Micron (MU) initiated with an Outperform at Cowen... People's Utah Bancorp (PUB) initiated with a Buy at DA Davidson... SouFun (SFUN) initiated with an Overweight at Barclays... Turquoise Hill (TRQ) initiated with an Outperform at BMO Capital.
08:17 EDTCABCabela's initiated with an Outperform at Barrington
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