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Stock Market & Financial Investment News

News Breaks
March 7, 2014
10:45 EDTFINL, FLFoot 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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December 22, 2014
07:27 EDTFL, FINLFoot Locker weakness a buying opportunity, says at Credit Suisse
Credit Suisse sad the sell-off in Foot Locker (FL) shares in response to Finish Line's (FINL) results appears overdone and provides a buying opportunity. The analyst said Foot Locker's sales and margin trends show little correlation to Finish Line historically, and some company specific merchandising issues pressured Finish Line results. Credit Suisse believe Foot Locker is well positioned for sole Q4 results and continues to see upside to the high $50's or low $60s. Shares of Foot Locker are Outperform rated.
06:12 EDTFINLFinish Line downgraded to Neutral from Buy at Janney Capital
December 19, 2014
16:31 EDTFL, FINLOn The Fly: Closing Wrap
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13:42 EDTFINLFinish Line downgraded to Hold from Buy at Canaccord
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12:27 EDTFL, FINLOn The Fly: Midday Wrap
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11:53 EDTFLFoot Locker heads lower with peers, levels to watch
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10:39 EDTFLNike leads footwear space lower after futures growth slows
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10:17 EDTFINLOn The Fly: Analyst Downgrade Summary
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10:02 EDTFLFoot Locker downgraded to Underperform from Neutral at BofA/Merrill
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09:56 EDTFINLFinish Line downgraded to Underperform from Neutral at BofA/Merrill
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09:28 EDTFINLOn The Fly: Pre-market Movers
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09:05 EDTFINLFinish Line says prioritizing capital spending to focus on sales driving
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08:58 EDTFINLFinish Line sees Q4 comparable sales up low-to-mid single digits
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08:43 EDTFINLFinish Line says will stay 'aggressive' on acquisition front
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08:38 EDTFINLFinish Line says Q3 traffic at record level
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08:37 EDTFINLFinish Line says running category innovation not at peak strength
Finish Line says will be cautious about margin assumptions until running sales trends improve. Comments from Q3 earnings conference call.
07:07 EDTFINLFinish Line now sees FY15 EPS flat with prior year $1.67, consensus $1.79
For FY15, Finish Line now expects EPS to be flat to FY14 non-GAAP EPS of $1.67. The company expects Finish Line comparable store sales to increase low to mid-single digits. The company previously said it expected Finish Line comparable store sales to be up mid single digits. “Third quarter comparable sales rebounded from second quarter trends, however merchandise margin pressure kept us from achieving our profitability plan. We remain confident in the strategic course we have set for the company and we’ll continue to invest in the omnichannel initiatives focused on delivering the long-term financial goals we have previously outlined. That said, we are adjusting our near-term capital spending plans and creating a more flexible expense structure to protect profitability until stronger full price selling trends reemerge," said CEO Glenn Lyon.
07:04 EDTFINLFinish Line reports Q3 EPS (2c), consensus 1c
Reports Q3 revenue $395.8M, consensus $390.95M. Finish Line Q3 comparable store sales increased 4.5%.
December 18, 2014
15:21 EDTFINLNotable companies reporting before tomorrow's open
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December 15, 2014
08:02 EDTFINLFinish Line volatility elevated into Q3 and outlook
Finish Line December call option implied volatility is at 74, February is at 37; compared to its 26-week average of 34 according to Track Data, suggesting large price movement into the expected release of Q3 results on December 19.
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