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Stock Market & Financial Investment News

News Breaks
May 23, 2014
12:14 EDTFINL, FL, DKS, HIBBFoot 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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May 21, 2015
12:21 EDTFLFoot Locker volatility elevated into Q1 and outlook
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08:36 EDTDKSDick's Sporting shares should be bought on weakness, says BMO Capital
After Dick's reported in-line Q1 EPS but lower than expected comps, the firm says that the company's gross margin should rise significantly in Q2. The firm adds that it was encouraged by the 3.8% increase in comp sales, excluding golf and hunting. It notes that the -2% comp impact from golf and hunting has improved from the -5.1% impact in 1Q14. BMO says that the company's fundamentals are intact and it keeps a $63 price target and Outperform rating on the shares.
May 20, 2015
17:48 EDTFLFoot Locker appoints Nicholas DiPaolo as non-executive chairman
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08:42 EDTFLGoldman says to buy Deckers Outdoor, sell Foot Locker
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May 19, 2015
13:03 EDTDKSDick's Sporting upgraded to Buy from Neutral at Sterne Agee CRT
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10:15 EDTDKSDick's Sporting sees golf recovery continuing into Q2
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09:46 EDTDKSDick's Sporting drops after results, levels to watch
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09:22 EDTDKSOn The Fly: Pre-market Movers
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07:33 EDTDKSDick's Sporting sees FY15 CapEx $245M on net basis, $365M on gross basis
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07:33 EDTDKSDick's Sporting sees Q2 EPS 73c-76c, consensus 76c
Sees Q2 SSS to be flat to up 2%. The company expects to open approximately seven new DICK'S Sporting Goods stores and one new Field & Stream store in the second quarter of 2015.
07:32 EDTDKSDick's Sporting sees FY15 EPS $3.12-$3.20, consensus $3.20
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07:31 EDTDKSDick's Sporting reports Q1 eCommerce penetration was 8.5% of total sales
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07:31 EDTDKSDick's Sporting reports Q1 EPS 53c, consensus 53c
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07:11 EDTDKSDick's Sporting volatility increasing into Q1 and outlook
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May 18, 2015
15:00 EDTDKSNotable companies reporting before tomorrow's open
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08:48 EDTFLUBS sees multiple sources of upside for Foot Locker
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May 14, 2015
07:28 EDTDKSDick's Sporting volatility flat into Q1 and outlook
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May 13, 2015
10:01 EDTDKSOn The Fly: Analyst Upgrade Summary
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09:28 EDTDKSDick's Sporting view changed to Positive from Mixed at OTR Global
OTR Global changed its view on Dick's Sporting Goods to Positive from Mixed due to a recovery in the demand for golf, lower clearance inventory, increasing transaction counts, and a favorable initial response to Calia.
07:56 EDTDKSDick's Sporting should report solid Q1 results, says UBS
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