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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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May 21, 2015
15:01 EDTHIBBNotable companies reporting before tomorrow's open
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09:58 EDTNKEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Alibaba (BABA) initiated with an Outperform at Bernstein... Alkermes (ALKS) initiated with an Overweight at Barclays... Burlington Stores (BURL) initiated with an Outperform at FBR Capital... Crocs (CROX) initiated with a Neutral at B. Riley... Darling (DAR) initiated with a Buy at Roth Capital... Dynegy (DYN) initiated with an Outperform at RBC Capital... Esperion (ESPR) initiated with an Overweight at Barclays... Five Below (FIVE) initiated with a Market Perform at FBR Capital... Intercept (ICPT) initiated with an Overweight, $450 target at Barclays... Johnson Matthey (JMPLY) initiated with a Buy at Jefferies... Nike (NKE) initiated with a Buy at Jefferies... RTI Surgical (RTIX) initiated with a Buy at Sidoti... TeleNav (TNAV) initiated with an Outperform at Northland... Trevena (TRVN) initiated with an Equal Weight at Barclays... Vectrus (VEC) initiated with a Hold at Stifel.
08:36 EDTDKSDick's Sporting shares should be bought on weakness, says BMO Capital
After Dick's reported in-line Q1 EPS but lower than expected comps, the firm says that the company's gross margin should rise significantly in Q2. The firm adds that it was encouraged by the 3.8% increase in comp sales, excluding golf and hunting. It notes that the -2% comp impact from golf and hunting has improved from the -5.1% impact in 1Q14. BMO says that the company's fundamentals are intact and it keeps a $63 price target and Outperform rating on the shares.
05:44 EDTNKENike initiated with a Buy at Jefferies
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May 19, 2015
13:03 EDTDKSDick's Sporting upgraded to Buy from Neutral at Sterne Agee CRT
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10:15 EDTDKSDick's Sporting sees golf recovery continuing into Q2
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09:46 EDTDKSDick's Sporting drops after results, levels to watch
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09:22 EDTDKSOn The Fly: Pre-market Movers
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07:33 EDTDKSDick's Sporting sees FY15 CapEx $245M on net basis, $365M on gross basis
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07:33 EDTDKSDick's Sporting sees Q2 EPS 73c-76c, consensus 76c
Sees Q2 SSS to be flat to up 2%. The company expects to open approximately seven new DICK'S Sporting Goods stores and one new Field & Stream store in the second quarter of 2015.
07:32 EDTDKSDick's Sporting sees FY15 EPS $3.12-$3.20, consensus $3.20
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07:31 EDTDKSDick's Sporting reports Q1 eCommerce penetration was 8.5% of total sales
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07:31 EDTDKSDick's Sporting reports Q1 EPS 53c, consensus 53c
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07:27 EDTNKESkechers moves into second place in U.S. sports footwear market, WSJ says
Skechers (SKX) moved past Adidas (ADDYY) and into second place, behind Nike (NKE), in the U.S. athletic footwear market, reports the Wall Street Journal. Reference Link
07:11 EDTDKSDick's Sporting volatility increasing into Q1 and outlook
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May 18, 2015
15:00 EDTDKSNotable companies reporting before tomorrow's open
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May 14, 2015
07:28 EDTDKSDick's Sporting volatility flat into Q1 and outlook
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May 13, 2015
10:01 EDTDKSOn The Fly: Analyst Upgrade Summary
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09:28 EDTDKSDick's Sporting view changed to Positive from Mixed at OTR Global
OTR Global changed its view on Dick's Sporting Goods to Positive from Mixed due to a recovery in the demand for golf, lower clearance inventory, increasing transaction counts, and a favorable initial response to Calia.
07:56 EDTDKSDick's Sporting should report solid Q1 results, says UBS
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