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Stock Market & Financial Investment News

News Breaks
May 20, 2014
11:39 EDTUA, CAB, NKE, DKS, HIBB, ELYDick'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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December 18, 2014
07:04 EDTNKENike December volatility increases into Q2 and outlook
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December 16, 2014
09:59 EDTUA, NKEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
December 15, 2014
16:26 EDTELYCallaway Golf sees FY15 EPS breakeven if current forex rates persist
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16:25 EDTELYCallaway Golf sees FY15 EPS to grow nearly 100% on constant currency basis
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16:22 EDTELYCallaway Golf raises FY14 EPS view to 17c-19c from 15c-18c, consensus 18c
FY14 net sales continue to be estimated at approximately $890M, consensus $891.25M. Gross margins are currently estimated to be approximately 40.5%, compared to gross margins of 37.3% in 2013. This anticipated improvement in 2014 is expected to result from improved operating efficiencies, improved pricing and mix of product sales, and the decrease in charges related to the cost-reduction initiatives. The company previously had estimated 2014 gross margins of 41.0%. The slight change in estimate includes the limited effect of the unfavorable changes in foreign currency rates.
16:18 EDTUAUnder Armour initiated with an Outperform at Cowen
Target $85.
16:17 EDTNKENike initiated with a Market Perform at Cowen
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15:27 EDTUA, NKEKering explored sale of Puma athletic brand, Bloomberg reports
Kering SA (PPRUY), which owns Gucci, Puma, and other brands, contacted potential buyers earlier this year to gauge interest in a potential a sale of the sportswear company, though the talks haven't lead to any takeover proposals yet, according to Bloomberg, citing people familiar with the matter. Other companies in the sportswear space include Nike (NKE), Under Armour (UA), lululemon (LULU) and Adidas (ADDYY). Reference Link
10:00 EDTNKEOn The Fly: Analyst Initiation Summary
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09:24 EDTNKENike initiated with a Buy at Buckingham
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09:24 EDTUAUnder Armour initiated with a Neutral at Buckingham
Target $70.
07:42 EDTNKENike price target raised to $110 from $96 at UBS
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December 12, 2014
09:01 EDTNKENike December volatility increases into Q2 and outlook
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December 11, 2014
06:33 EDTNKENike CIO Anthony Watson leaves company after 10 months, Business Insider reports
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December 10, 2014
17:36 EDTCABCabela's announces plans for Farmington, Utah, location
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09:15 EDTNKENike price target raised to $105 from $100 at Credit Suisse
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07:25 EDTNKENike sues employees who left for Adidas for stealing trade secrets, ESPN reports
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December 9, 2014
17:03 EDTNKENike appoints Tom Peddie as VP and GM of the Emerging Markets
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December 8, 2014
10:00 EDTNKEOn The Fly: Analyst Downgrade Summary
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06:38 EDTNKENike downgraded to Market Perform from Outperform at Telsey Advisory
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