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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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November 18, 2014
07:33 EDTDKSDick's Sporting sees Q4 EPS $1.18-$1.28, consensus $1.21
Sees Q4 consolidated same store sales to increase approximately 1%-3%. Q4 revenue consensus $2.12B.
07:32 EDTDKSDick's Sporting reports Q3 EPS 41c, consensus 41c
Reports Q3 revenue $1.53B, consensus $1.53B. Consolidated same store sales increased 1.1%, compared to the company's guidance of an approximate 1%-3% increase. Same store sales for DICK'S Sporting Goods increased 1.7%, while Golf Galaxy decreased 8.9%.
07:31 EDTNKESignet Jewelers names Daniel Shull as Chief Information Officer
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November 17, 2014
15:27 EDTDKSDick's Sporting November 47 straddle priced for 7.1% move into Q3
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15:16 EDTDKSNotable companies reporting before tomorrow's open
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14:58 EDTDKSDick's Sporting technical comments before earnings
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November 14, 2014
10:00 EDTNKEOn The Fly: Analyst Downgrade Summary
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06:31 EDTNKENike downgraded to Neutral from Buy at Sterne Agee
Sterne Agee downgraded Nike to Neutral based on valuation.
November 13, 2014
12:39 EDTDKSDick's Sporting volatility elevated into Q3 and outlook
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10:01 EDTCABOn The Fly: Analyst Initiation Summary
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07:57 EDTNKENike positioned to 'significantly increase' dividend, says Nomura
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07:38 EDTUABloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
November 12, 2014
16:41 EDTCABCabela's initiated with an Outperform at Imperial Capital
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November 11, 2014
07:49 EDTDKSBofA/Merrill retail and consumer analysts hold analyst/industry conference call
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November 10, 2014
10:00 EDTUAUnder Armour mentioned cautiously by Mosaic Research
Mosaic Resarch believes Under Armour's sales have slowed from previous levels. The firm said Apparel has been hampered by weak conditions at retail and warmer weather and Footwear and International have likely pressured margins.
08:15 EDTCABCabela's shares undervalued, says Stifel
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06:17 EDTNKENike price target raised to $107 from $93 at Citigroup
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November 7, 2014
10:00 EDTUA, NKEOn The Fly: Analyst Initiation Summary
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06:53 EDTNKENike initiated with a Market Perform at FBR Capital
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06:52 EDTUAUnder Armour initiated with an Outperform at FBR Capital
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