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Stock Market & Financial Investment News

News Breaks
May 20, 2014
11:39 EDTELY, UA, CAB, NKE, DKS, HIBBDick'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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January 28, 2015
08:47 EDTNKEAdidas CEO has no intention to resign despite losses to Nike, Reuters says
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January 23, 2015
12:39 EDTNKE, UAlululemon rises after JPMorgan analyst says EPS can more than double
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06:36 EDTNKE, UAlululemon upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded lululemon (LULU) to Overweight saying its recent field work has indicated positive traffic and demand trends while management is laying the foundation for sustainable growth. The firm raised its price target for shares to $75 from $50. The retailer of athletic apparel closed yesterday up 90c to $63.76. JPMorgan notes that its $75 price target reflects a 20% discount to peers Nike (NKE) and Under Armour (UAUA).
January 18, 2015
16:41 EDTELYCallaway Golf shares could rise 50%, Barron's says
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January 16, 2015
06:25 EDTCABCabela's initiated with an Outperform at Raymond James
Target $63.
January 14, 2015
06:32 EDTNKE, UAAdidas wants to gain traction in U.S. market with endorsement deals, WSJ reports
In a move to gain traction int he U.S. market, Adidas is planning to increase endorsement deals with professional football and baseball players in the U.S. in the next few years, The Wall Street Journal reports. Adidas North American President Mark King says the German sportswear maker's U.S. arm has approval to sign up to 250 NFL players and 250 MLB players over the next three years, up from a total of less than 40 right now. Reference Link

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