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Stock Market & Financial Investment News

News Breaks
May 20, 2014
11:39 EDTNKE, DKS, HIBB, ELY, UA, CABDick'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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July 27, 2015
06:02 EDTDKSDick's Sporting initiated with a Market Perform at Cowen
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July 24, 2015
16:30 EDTUAStocks end week lower as Apple headlines busy week of earnings
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10:00 EDTUAOn The Fly: Analyst Upgrade Summary
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07:36 EDTUAUnder Armour price target raised to $110 from $93 at Deutsche Bank
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07:24 EDTUAUnder Armour price target raised to $114 from $96 at Citi
Citi raised its price target for Under Armour to $114 following the company's better than expected Q2 results and increased outlook. The firm sees the September analyst day as the next catalyst for shares and reiterates a Buy rating on the name.
07:07 EDTUAUnder Armour upgraded to Sector Weight from Underweight at KeyBanc
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July 23, 2015
18:21 EDTUAOn The Fly: Top stock stories for Thursday
Stocks began the session mixed on the heels of weak earnings reports from both Caterpillar (CAT) and 3M (MMM). The Nasdaq managed to spend most of the day in positive territory but joined the other averages in negative territory by mid-afternoon. Selling picked up momentum towards late afternoon, and by day’s end each of the averages were lower by more than 0.4%, with the Dow losing nearly 0.7%. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 255,000 in the week ended July 18, below the 278,000 first-time claims that were expected. The Leading Economic Indicators advanced 0.6% in June, exceeding expectations for a 0.3% increase. In Asia, the Shanghai Composite index advanced for a sixth straight session, adding another 2.4%. In Europe, the Greek Parliament voted to accept creditor terms for a new bailout, though a decision on when to reopen Greek financial markets was deferred to next week. COMPANY NEWS: Shares of General Motors (GM) finished the session up 3.96% to $31.50 after reporting earnings per share above analyst expectations. Other notable names rising following earnings reports include SanDisk (SNDK), Under Armour (UA), Southwest (LUV)... Caterpillar, meanwhile, dropped $2.86, or 3.59%, to $76.90 after cutting its yearly guidance during this morning's earnings report, with the company noting a "relatively stagnant" global economy. Also lower following earnings were Comcast (CMCSA, CMCSK), Bristol-Myers Squibb (BMY), Dunkin Brands (DNKN), and Boston Scientific (BSX). MAJOR MOVERS: Among the notable gainers was Cigna (CI), which rose $3.29, or 2.18%, to $154.36 after the Wall Street Journal reported last night that Anthem (ANTM) is nearing a deal to acquire the company for roughly $187, representing a total transaction value of over $48B. Adding to that report, CNBC's David Faber said on Thursday morning that Anthem will announce an agreement Friday to purchase Cigna for $188 per share, at a 45% equity, 55% cash split. Also higher were shares of numerous IT security companies, with FireEye (FEYE) advancing 4.53% and Palo Alto Networks (PANW) adding 2.33% after earnings reports from security firms Fortinet (FTNT) and F5 Networks (FFIV) beat on both top and bottom lines. Fortinet and F5, meanwhile, finished Thursday's session up 10.71% and 7.75% to $46.83 and $127.68, respectively. Among the noteworthy losers following earnings was McDonald's (MCD), which edged down 0.52% to $97.10 after noting that Q2 global comparable sales fell 0.7% for the quarter, including a 2% decline in U.S. same-store sales. Also lower was Hertz (HTZ), which declined 8.53% to $16.45 following a downgrade to Underweight at Morgan Stanley, with the research firm citing increased competition from Uber and similar mobility services. INDEXES: The Dow fell 119.12, or 0.67%, to 17,731.92, the Nasdaq lost 25.36, or 0.49%, to 5,146.41, and the S&P 500 declined 12.00, or 0.57%, to 2,102.15.
17:31 EDTUAUnder Armour announces multi-year partnership with FC St. Pauli
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15:29 EDTUAUnder Armour price target raised to $114 from $96 at Citi
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12:32 EDTUA, CABOn The Fly: Top stock stories at midday
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09:13 EDTUA, CABOn The Fly: Pre-market Movers
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09:08 EDTUAUnder Armour expects to spend more on marketing in FY15 than any other year
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08:10 EDTCABCabela's sees high single to low double digit growth rate in FY15 EPS
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08:10 EDTCABCabela's reports Q2 EPS 56c, consensus 62c
Reports Q2 revenue $836.3M, consensus $852.89M. Retail store revenue increased 13.9% to $570.1 million; Direct revenue decreased 7.0% to $136.8 million; and Financial Services revenue increased 14.2% to $124.9 million. During the period, consolidated comparable store sales decreased 0.9%. Net income was $40.1 million compared to $43.5 million in the year ago quarter, and earnings per diluted share were $0.56 compared to $0.61 in the year ago quarter.
07:18 EDTUAUnder Armour raises FY15 revenue to $3.84B from $3.73B, consensus $3.83B
Raises FY15 operating income to $405M-$408M from $400M-$408M. The 2015 guidance continues to reflect the net dilutive impact from the Connected Fitness acquisitions, as well as the impact of the strong dollar negatively impacting our operating margin within our international businesses.
07:17 EDTUAUnder Armour reports Q2 apparel net revenue up 23% to $515M
Reports Q2 footwear net revenue up 40% to $154M. Reports Q2 accessories net revenue up 39% to $83M.
07:16 EDTUAUnder Armour reports Q2 EPS 7c, consensus 5c
Reports Q2 revenue $783.58M, consensus $762.15M.
July 22, 2015
15:26 EDTCAB, UANotable companies reporting before tomorrow's open
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14:24 EDTUAUnder Armour technical comments ahead of earnings
The stock is in a strong bullish trend near life highs ahead of earnings. If the news is strongly bullish, an extension of the long-term bullish price channel would suggest a move into the $100 area would be possible. That is, without breaking above the upper bound of the channel. Without established overhead resistance, price could run considerably further depending on the nature of the news. If the news is instead a bearish surprise, the low of the price channel at $76.49 would be the first major support. That price reflect the 10-month moving average for the shares. It would take news sufficiently bearish to break that level to turn the long-term trend to bearish.
11:22 EDTUAUnder Armour July weekly volatility elevated into Q2 and outlook
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