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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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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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