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Stock Market & Financial Investment News

News Breaks
May 23, 2014
12:14 EDTDKS, HIBB, FINL, FLFoot 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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March 27, 2015
09:32 EDTFINLFinish Line says will continue to close underperforming stores
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09:26 EDTFINLOn The Fly: Pre-market Movers
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09:16 EDTFINLFinish Line says 'committed' to active share buyback program
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09:10 EDTFINLFinish Line sees continued pressures in 1H that will pressure EPS 'to a degree'
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09:03 EDTFINLFinish Line sees headwinds to product margins in 1H
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09:01 EDTFINLFinish Line sees Macy's business generating $240M-$250M in FY sales
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08:56 EDTFINLFinish Line says Macy's partnership on the way to exceeding long-term vision
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07:08 EDTFINLFinish Line board authorizes 5M share repurchase plan
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07:07 EDTFINLFinish Line sees FY15 EPS growth in low-single to mid-single digit range
FY15 EPS consensus $1.66. Company expects FY15 comparable store sales up in low single to mid single digit range.
07:05 EDTFINLFinish Line reports Q4 adjusted EPS 88c, consensus 85c
Reports Q4 revenue $551.35M, consensus $550.34M. Reports Q4 Finish Line comparable store sales increased 2.6%.
March 26, 2015
15:20 EDTFINLNotable companies reporting before tomorrow's open
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March 25, 2015
13:23 EDTFINLFinish Line volatility elevated into Q4 and outlook
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10:00 EDTFINLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AB InBev (BUD) downgraded to Reduce from Overweight at HSBC... BreitBurn Energy (BBEP) downgraded to Sell from Neutral at UBS... DiamondRock (DRH) downgraded to Reduce from Neutral at SunTrust... Ethan Allen (ETH) downgraded to Hold from Buy at Gabelli... Felcor Lodging (FCH) downgraded to Neutral from Buy at SunTrust... Finish Line (FINL) downgraded to Neutral from Buy at B. Riley... Hannover Re (HVRRY) downgraded to Sell from Hold at Deutsche Bank... Hersha Hospitality (HT) downgraded to Reduce from Neutral at SunTrust... Host Hotels (HST) downgraded to Reduce from Neutral at SunTrust... ING Groep (ING) downgraded to Neutral from Buy at Goldman... Informatica (INFA) downgraded to Neutral from Buy at Mizuho... Kofax (KFX) downgraded to Hold from Buy at Canaccord... LRR Energy (LRE) downgraded to Sell from Neutral at UBS... LaSalle Hotel (LHO) downgraded to Reduce from Neutral at SunTrust... Munich Re (MURGY) downgraded to Sell from Hold at Deutsche Bank... Orbital ATK (OA) downgraded to Market Perform from Outperform at Wells Fargo... PCTEL, Inc. (PCTI) downgraded to Neutral from Buy at B. Riley... Quest Diagnostics (DGX) downgraded to Hold from Buy at Deutsche Bank... SJW Corp. (SJW) downgraded to Neutral from Outperform at RW Baird... Selective Insurance (SIGI) downgraded to Neutral from Buy at BofA/Merrill... Sonus (SONS) downgraded to Hold from Buy at Wunderlich... Starwood (HOT) downgraded to Neutral from Buy at SunTrust... Synchrony Financial (SYF) downgraded to Neutral from Buy at BofA/Merrill... Tesla (TSLA) downgraded to Underperform from Outperform at CLSA... Twitter (TWTR) downgraded to Hold from Buy at Pivotal Research... ZAGG (ZAGG) downgraded to Market Perform from Outperform at Northland... iDreamSky (DSKY) downgraded to Neutral from Overweight at JPMorgan.
08:48 EDTFINLFinish Line downgraded to Neutral from Buy at B. Riley
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06:18 EDTFINLFinish Line downgraded to Neutral from Buy at B. Riley
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March 24, 2015
11:05 EDTFLFoot Locker management to meet with Jefferies
Meeting to be held in Los Angeles on March 27 hosted by Jefferies.
March 17, 2015
10:42 EDTFLFoot Locker management to meet with Sterne Agee
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07:30 EDTFLFoot Locker analyst day highlighted growth strategies, says UBS
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06:13 EDTFLFoot Locker analyst day removes uncertainty, says Citigroup
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06:04 EDTFLFoot Locker to exit Lady Foot Locker business slowly, TheStreet says
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