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Stock Market & Financial Investment News

News Breaks
March 7, 2014
09:38 EDTFLFoot Locker says SSS up low double digits so far in Q1
Planning for a mid single digit SSS gain for FY14, including a mid single digit SSS gain in each quarter. Targeting FY14 capital program of $220M. Anticipating about 60 new stores and will likely close about 100. Expects to continue remodeling programs in Foot Locker and Champs stores. Says has a solid strategy for women's business to bring it up to the productivity of the other businesses. On the gross margin front, the company expects to experience some ongoing initial markup pressure but believes it can continue to improve markdown rates. Sees interest expense flat with last year at around $5M. Expecting a 36.5% effective tax rate down from prior expectation of 37%. Comments made during the company's Q4 earnings conference call.
News For FL From The Last 14 Days
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January 30, 2015
10:00 EDTFLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abbott (ABT) upgraded to Buy from Neutral at BofA/Merrill... BAE Systems (BAESY) upgraded to Buy from Hold at Cantor... Boston Scientific (BSX) upgraded to Outperform from Market Perform at BMO Capital... Bottomline Technologies (EPAY) upgraded to Buy from Hold at Craig-Hallum... Capital Bank (CBF) upgraded to Buy from Hold at Sandler ONeill... Centrica PLC (CPYYY) upgraded to Neutral from Sell at UBS... Chico's FAS (CHS) upgraded to Buy at Janney Capital... Coherent (COHR) upgraded to Buy from Neutral at B. Riley... Devon Energy (DVN) upgraded to Buy from Hold at Deutsche Bank... Farmers National Banc (FMNB) upgraded to Buy from Hold at Sandler O'Neill... Foot Locker (FL) upgraded to Overweight from Equal Weight at Barclays... Groupon (GRPN) upgraded to Buy from Sell at Ascendiant... JA Solar (JASO) upgraded to Outperform from Sector Perform at RBC Capital... K12 (LRN) upgraded to Outperform from Market Perform at Wells Fargo... PolyOne (POL) upgraded to Outperform at RW Baird... QLogic (QLGC) upgraded to Outperform from Market Perform at BMO Capital... SolarWinds (SWI) upgraded to Buy from Hold at Deutsche Bank... Stanley Black & Decker (SWK) upgraded to Equal Weight from Underweight at Barclays... SunPower (SPWR) upgraded to Outperform from Sector Perform at RBC Capital... TCF Financial (TCB) upgraded to Buy from Neutral at DA... Tempur Sealy (TPX) upgraded to Buy from Neutral at Nomura... Textron (TXT) upgraded at BofA/Merrill... Trina Solar (TSL) upgraded to Outperform from Sector Perform at RBC Capital... Umpqua Holdings (UMPQ) upgraded to Outperform from Market Perform at Keefe Bruyette... Valero Energy Partners (VLP) upgraded at Credit Suisse... Verifone (PAY) upgraded to Positive from Neutral at Susquehanna... Yahoo (YHOO) upgraded to Buy from Hold at Evercore ISI... Zimmer (ZMH) upgraded to Outperform at RW Baird.
05:46 EDTFLFoot Locker upgraded to Overweight from Equal Weight at Barclays
Barclays upgraded Foot Locker to Overweight citing an attractive entry point at current valuation levels and its belief the shoe seller could reach $10B in revenue within the next five years. The firm expects the athletic footwear industry to keep growing and raised its price target for Foot Locker shares to $70 from $60. The stock closed yesterday up 56c to $54.35.
January 16, 2015
09:34 EDTFLLeonard Green discloses stakes in Foot Locker, DSW
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