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Stock Market & Financial Investment News

News Breaks
March 7, 2014
10:45 EDTFL, FINLFoot Locker rises after quarterly earnings beat expectations
Shares of shoe and apparel retailer Foot Locker (FL) are rising after the company reported fourth quarter earnings that beat the consensus estimate. WHAT'S NEW: Foot Locker reported fourth quarter adjusted earnings per share of 82c, which beat analysts' consensus expectation of 76c. The company reported fourth quarter revenue of $1.79B which beat the consensus estimate of $1.76B. Foot Locker also reported comparable store sales in the fourth quarter rose 5.3%. WHAT'S NOTABLE: During the company's earnings conference call, Foot Locker said comparable stores sales are up low double digits so far in the first quarter. Foot Locker is planning for a mid single digit same-store sales gain for FY14, including a mid single digit same-store gain in each quarter. The company expects its earnings per share to grow by a double-digit percentage during FY14, it added. The company says it has $371M left on its share repurchase program and says it was "active" in executing it during the end of 2013. Foot Locker expects its share count to continue decreasing as the program is executed. ANALYST OPINION: Following the company's report, analysts at Deutsche Bank raised their price target on Foot Locker shares to $48 from $45. Deutsche Bank noted the company's FY14 guidance was in-line with Street expectations, unlike most retailers, and the firm reiterated its Buy rating on the stock. PRICE ACTION: During mid-morning trading, shares of Foot Locker rose $2.70, or 6.32%, to $45.43. ANOTHER TO WATCH: Shares of another footwear retailer, Finish Line (FL), were up 2.8% to $28.29 in mid-morning trading.
News For FL;FINL From The Last 14 Days
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September 22, 2014
08:17 EDTFINLFinish Line price target raised to $32 from $30 at UBS
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05:40 EDTFINLFinish Line downgraded to Equal Weight from Overweight at Morgan Stanley
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September 18, 2014
09:22 EDTFLBack to school season healthy for footwear, says Sterne Agee
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07:36 EDTFLFoot Locker management to meet with UBS
Meeting to be held in Dublin, Ireland on September 18 hosted by UBS.
September 17, 2014
07:32 EDTFLFoot Locker management to meet with UBS
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September 16, 2014
18:32 EDTFINLFinish Line assumed with a Neutral at Piper Jaffray
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16:31 EDTFLFoot Locker assumed with a Neutral at Piper Jaffray
Target $57.
September 15, 2014
07:23 EDTFLFoot Locker management to meet with UBS
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September 9, 2014
10:10 EDTFINLOn the Fly: Analyst Upgrade Summary
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05:30 EDTFINLFinish Line upgraded to Buy from Hold at Deutsche Bank
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