New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 22, 2014
10:48 EDTFL, FINLFoot Locker jumps after earnings beat expectations
Shares of shoe and apparel retailer Foot Locker (FL) are higher after the company reported second quarter earnings which exceeded analysts' expectations. WHAT'S NEW: Foot Locker reported Q2 adjusted earnings per share of 64c, which surpassed analysts' consensus of 54c. The company's Q2 revenue was $1.64B, which was higher than analysts' consensus of$1.57B. Foot Locker's same-store-sales increased 7% and its gross margin rate was up 32% for the quarter. WHAT'S NOTABLE: During the company's conference call, Foot Locker said third quarter comparable sales are positioned to experience mid-single digit gains. The company noted that it is making "good progress" on maintaining a "solid" flow of inventory and its inventory overall is well-positioned for the upcoming back-to-school and fall seasons. Foot Locker is still on-track to close just over 100 stores this year, but some closures are expected to happen at the beginning of FY15. The retailer is projecting to open 80 stores this year mostly in Europe and Kids Foot Locker, which is an increase from the company's initial projection of opening 60 stores. A high-single digit comparable sales gain has been experienced by the company so far in August. It anticipates a SG&A improvement of 30-40 basis points and gross margins to be up 20-40 basis points in Q3. ANALYST OPINION: Two days ago, Canaccord said that they were positive on Foot Locker prior to Q2 earnings results since they foresaw the results to be "solid." The firm felt that the retailer was "well-positioned" to still benefit from its target of expanding toward casual athletic footwear. The firm maintained a $56 price target on Foot Locker with a Buy rating. Yesterday, UBS increased its price target on Foot Locker to $58 from $54 right before the retailer announced its Q2 results. The firm anticipated higher than expected earnings, positive SSS trends and the potential for increased guidance and valuation. UBS kept Foot Locker with a Buy rating. OTHERS TO WATCH: Foot Locker competitor Finish Line (FINL) is scheduled to report its Q2 quarter earnings on September 25. PRICE ACTION: During morning trading, Foot Locker shares rose $1.60 or just over 3%, to $54.17, and Finish Line shares rose 19c, or 0.65%, to $29.62.
News For FL;FINL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 26, 2015
16:16 EDTFINLOn The Fly: Top stock stories for Friday
Subscribe for More Information
12:58 EDTFINLOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with Nike's (NKE) post-earnings rise providing a boost to the Dow and Micron's (MU) slide dragging on the tech-heavy Nasdaq. ECONOMIC EVENTS: In the U.S., the University of Michigan consumer sentiment reading rebounded to 96.1 in the final June report from the preliminary 94.6 reading. That revised figure topped the expected reading of 95. In Europe, the ECB left the level of emergency cash available to Greek banks unchanged again Friday as deposit outflows have slowed, according to people familiar with the matter reporting to Bloomberg. Greek leaders are scheduled to hold talks Saturday with the Eurogroup in what may be the nation's last chance for a deal ahead of the expiration of the current bailout agreement on June 30. In China, stocks plunged by the most in five months as the Shanghai Composite Index fell 7.4%, with market watchers citing margin worries and concerns that the PBOC will be less likely to undertake further rate cuts. COMPANY NEWS: Shares of Nike advanced 4% after the athletic apparel and sneaker maker reported fourth quarter results that handily beat expectations. Several firms raised their respective price targets on the stock following the company's Q4 report, including Goldman, which reiterated its Conviction Buy rating on Nike and raised its price target to $131 from $121. Finish Line (FINL), an athletic shoe and apparel retailer that sells Nike products, rose 5% after its own first quarter results also topped the consensus forecast. MAJOR MOVERS: Among the notable gainers was OPKO Health (OPK), which rose nearly 4% after the company announced the decision of the National Comprehensive Cancer Network to include 4Kscore as a recommended test in the 2015 NCCN Guidelines for Prostate Cancer Early Detection. Additionally, CEO Phillip Frost disclosed in regulatory filings that he'd acquired over 64,000 shares of the company stock in the last two days. Also higher was Kforce (KFRC), which gained 7% after SunTrust upgraded the stock to Buy and raised its price target to $27 from $24, noting that the firm's private IT staffing poll suggests margin assumptions may prove conservative. Among the noteworthy losers was Micron, which sunk about 19% after the flash memory maker reported weaker than expected results last night and provided lower than expected Q4 revenue guidance. Also lower were shares of coal miner Peabody (BTU), which fell 7% after Moody's downgraded the company's credit rating to reflect the firm's expectation for the deterioration in the company's credit metrics to be more precipitous than it had previously thought due to the ongoing decline in the seaborne metallurgical coal markets. INDEXES: Near midday, the Dow was up 53.70, or 0.3%, to 17,944.06, the Nasdaq was down 40.56, or 0.79%, to 5,071.62, and the S&P 500 was down 2.18, or 0.1%, to 2,100.13.
12:00 EDTFL, FINLFinish Line rises after Q1 results beat expectations
Subscribe for More Information
10:04 EDTFINL:High option volume stocks
Subscribe for More Information
09:30 EDTFINLFinish Line cautiously optimistic about product pipeline
Finish Line management stated that the company is 100% committed to brick and mortar. Management stated that they will continue to close underperforming stores but the company's focus is not to close stores. The company closed 15 stores in Q1. Management also stated that with the Labor Day holiday occurring later, this year, some sales will be pushed into Q3. The company's basketball segment is healthy and will continue to do well this year. Comments provided during Q1 earnings conference call.
09:10 EDTFINLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Finish Line (FINL), up 6.5%... Nike (NKE), up 3.2%. ALSO HIGHER: GigaMedia (GIGM), up 14.6% after agreeing to acquire 70% equity interest in Strawberry Cosmetics. DOWN AFTER EARNINGS: Micron Technology (MU), down 14.8%. ALSO LOWER: Celladon (CLDN), down 42.7% after planning to suspend further R&D of MYDICAR program... Real Goods Solar (RGSE), down 18.4% after raising $5M in a common stock and warrant offering... SanDisk (SNDK), down 3.3% after Micron Technology reports quarterly results... Alder Biopharmaceuticals (ALDR), down 2.6% after 4.49M share Secondary priced at $44.50... Sotherly Hotels (SOHO), down 2% after 3M share Secondary priced at $7.11.
08:04 EDTFINLFinish Line reports Q1 EPS 30c, consensus 24c
Reports Q1 revenue $443.4M, consensus $429.83M. Reports Q1 comparable store sales up 5.5%.
06:55 EDTFINLFinish Line sees FY16 non-GAAP EPS to increase in low single to mid single digit
Subscribe for More Information
June 25, 2015
19:04 EDTFINLOn The Fly: After Hours Movers
Subscribe for More Information
15:04 EDTFINLNotable companies reporting before tomorrow's open
Subscribe for More Information
14:50 EDTFINLFinish Line technical comments ahead of earnings news
Subscribe for More Information
10:00 EDTFINLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Buy from Neutral at BofA/Merrill... Eli Lilly (LLY) upgraded to Buy, added to US 1 List at BofA/Merrill... Finish Line (FINL) upgraded to Buy from Neutral at B. Riley... Gran Tierra (GTE) upgraded to Buy from Hold at Canaccord... Greenhill & Co. (GHL) upgraded to Buy from Sell at Goldman... Magnum Hunter (MHR) upgraded to Equalweight from Underweight at Capital One... Marathon Oil (MRO) upgraded to Buy from Neutral at UBS... Newpark Resources (NR) upgraded to Strong Buy from Outperform at Raymond James... Office Depot (ODP) upgraded to Outperform from Market Perform at Telsey Advisory... Quanex (NX) upgraded to Outperform from In-Line at Imperial Capital... Vestas Wind (VWDRY) upgraded to Outperform from Neutral at Exane BNP Paribas... Web.com (WWWW) upgraded to Buy from Neutral at B. Riley... NRG Yield upgraded to Outperform from Market Perform at Avondale.
06:26 EDTFINLFinish Line upgraded to Buy from Neutral at B. Riley
B. Riley upgraded Finish Line to Buy and raised its price target for shares to $33 from $27 ahead of the company's Q1 results on June 26. Riley believes the retailer's merchandise assortment is improving and that the running category is building momentum.
June 24, 2015
17:18 EDTFLChamps Sports, Under Armour launch premium store-within-store concept
Champs Sports, a member of the Foot Locker (FL) family, is collaborating with Under Armour (UA) to launch The ARMOURY at Champs Sports. This is the first-of-its-kind, premium store-within-a-store and will open later this month at the Champs Sports store in The Mall in Columbia in Columbia, MD.
13:52 EDTFINLFinish Line volatility elevated into Q1 and outlook
Finish Line July call option implied volatility is at 49, August is at 36, November is at 34; compared to its 52-range-week of 24 to 49, suggesting large price movement into the expected release of Q1 results on June 25.
June 22, 2015
10:36 EDTFLFoot Locker management to meet with FBN Securities
Subscribe for More Information
June 18, 2015
06:46 EDTFINLFinish Line risk/reward into Q1 results, says Piper Jaffray
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use