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Stock Market & Financial Investment News

News Breaks
May 23, 2014
12:14 EDTFL, HIBB, DKS, FINLFoot Locker jumps after earnings beat expectations
Shares of shoe and apparel retailer Foot Locker (FL) are higher after the company reported first quarter earnings which surpassed analyst's consensus expectation. WHAT'S NEW: Foot Locker reported first quarter adjusted earnings per share of $1.11, which beat a consensus forecast of $1.06. The company reported first quarter revenue of $1.87B, which also exceeded the $1.79B consensus view. Foot Locker said that comparable store sales rose 7.6% in the first quarter. WHAT'S NOTABLE: During the company's earnings conference call, Foot Locker reiterated a "strong" outlook for the remainder of FY14. The company said that its comparable store sales as of yesterday were up mid-single digits in May, adding that it still sees quarter comps up mid-single digits. Weather in Europe during the first quarter proved to be warmer compared to the prior year, which the company noted had a positive influence on its running business, but a negative impact on its fleece business. The retailer's women's business has had a positive low-digit comp so far this month and overall, it sees its running division to have "strong and powerful" sales going into the summer and the back-to-school seasons. ANALYST OPINION: Three days ago, Sterne Agee recommended purchasing Hibbett Sports (HIBB) and Foot Locker on weakness linked to Dicks Sporting Goods' (DKS) latest quarterly results. Hibbett Sports reported on its first quarter results today as well, turning in EPS of $1.09 that matched analyst's expectation on revenue that was slightly lower than the consensus forecast. The company noted that its quarter sales to-date so far have been slow due to a shift in shoe launches, but added that a "pretty good-sized launch" is scheduled for tomorrow and that management is "very positive" that the company will have a "good second quarter." OTHERS TO WATCH: Another rival to Foot Locker that also sells running shoes and sports apparel, Finish Line (FINL), has yet to report its first quarter earnings. Analysts are projecting EPS of 21c and revenue of $394.18M. Last quarter, Finish Line said that it saw its first quarter earnings per share flat to up slightly versus last year and that it saw its March-April comps to be up in the mid-single digit range. PRICE ACTION: During late-morning trading, Foot Locker shares rose 61c or 1.27%, to $48.78. Hibbett Sports decreased 6% to $53.66, and Finish Line rose 1.4% to $29.21.
News For FL;HIBB;DKS;FINL From The Last 14 Days
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July 23, 2014
06:25 EDTDKSDick's Sporting cuts 400 PGA golf instructors, WSJ reports
Over 400 PGA of America members who were employed as golf instructors at Dick's Sporting Goods have been notified this week that they are being laid off, the Wall Street Journal reports. Reference Link
July 21, 2014
10:31 EDTFLHigh option volume stocks:
High option volume stocks: EZPW LCI STLD SIAL FL OREX CROX NIHD EXTR BBT
July 16, 2014
13:18 EDTFLFoot Locker Q2 sales and comps tracking ahead of Street, says ITG Research
ITG said Foot Locker's Q2 sales and comps are tracking ahead of Street expectations.
11:14 EDTFLFoot Locker weakness a buying opportunity, says Sterne Agee
Sterne Agee said weakness in last weeks basketball sales at Foot Locker was the result of the shift of the Jordan launch by one week and that basketball and other sales remain healthy.
July 11, 2014
10:00 EDTFINLOn The Fly: Analyst Downgrade Summary
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09:11 EDTFLFoot Locker to benefit from current trends, says Sterne Agee
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09:07 EDTFINLFinish Line downgraded at Sterne Agee
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06:08 EDTFINLFinish Line downgraded to Neutral from Buy at Sterne Agee
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