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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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August 21, 2014
07:51 EDTFLFoot Locker price target raised to $58 from $54 at UBS
UBS raised its price target on Foot Locker to $58 from $54 ahead of Q2 results. The firm sees higher than expected earnings, positive same store sales trends, potential for increased guidance, and valuation. Shares of foot Locker are buy rated.
August 20, 2014
08:00 EDTFLFoot Locker Q2 results expected to be solid, says Canaccord
Canaccord said they are positive on Foot Locker heading into Q2 results as they expect results to be solid. The firm feels Foot Locker is well positioned to continue benefiting from the expanding tend toward casual athletic footwear. Shares of Foot Locker are buy rated with a $56 price target.
07:40 EDTDKSDick's Sporting should be sold into strength, says RBC Capital
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07:38 EDTDKSDick's Sporting weakness a buying opportunity, says UBS
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07:33 EDTDKSDick's Sporting 'not out of the woods yet,' says JPMorgan
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August 19, 2014
13:40 EDTFLFoot Locker September volatility up into Q2 and guidance
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13:38 EDTFLFoot Locker same-store-sales tracking above consensus, says ITG Research
10:58 EDTDKSDick's Sporting says on-target with e-commerce goals
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10:44 EDTDKSDick's Sporting says hunting business headwinds 'temporary'
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10:19 EDTDKSDick's Sporting continues to see headwinds in hunting, golf businesses
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09:53 EDTDKSDick's Sporting Q2 better than feared, says Wells Fargo
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09:07 EDTDKSOn The Fly: Pre-market Movers
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09:06 EDTDKSDick's Sporting shares should trade higher on Q2 results, say RW Baird
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07:35 EDTDKSDick's Sporting sees FY14 CapEx $340M on gross basis, $245M on net basis
07:35 EDTDKSDick's Sporting sees FY14 EPS $2.70-$2.85, consensus $2.79
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07:34 EDTDKSDick's Sporting sees Q3 EPS 38c-42c, consensus 42c
Sees Q3 SSS to increase 1%-3%. Expects to open approximately 24 new DICK'S Sporting Goods stores, relocate one DICK's Sporting Goods store and remodel five DICK's Sporting Goods stores in the third quarter of 2014. The Company also expects to open seven new Field & Stream stores and one new Golf Galaxy store, and relocate one Golf Galaxy store in the third quarter.
07:33 EDTDKSDick's Sporting: $20.4M charges in Q2 related to golf business restructuring
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07:32 EDTDKSDick's Sporting: Dick's Sporting Goods SSS up 4.1%, Golf Galaxy SSS down 9.3%
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07:31 EDTDKSDick's Sporting reports Q2 SSS up 3.2%
07:31 EDTDKSDick's Sporting reports Q2 non-GAAP EPS 67c, cosnenssu 65c
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