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Stock Market & Financial Investment News

News Breaks
May 23, 2014
09:23 EDTFLFoot Locker says reiterates 'strong' outlook for the rest of the year
Says so far, SSS through yesterday is up mid single digits. Says May's tracking is up mid-single digits. Says still sees quarter comps up mid single digits. Comments made during the company's Q1 earnings conference call.
News For FL From The Last 14 Days
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September 26, 2014
16:15 EDTFLOn The Fly: Closing Wrap
Stocks on Wall Street were higher, regaining much of their losses from yesterday, after GDP data showed the U.S. economy grew at its fastest pace in more than 2 years during the second quarter. Also helping improve sentiment was the significant earnings beat from Dow member Nike (NKE). ECONOMIC EVENTS: In the U.S., second quarter real GDP growth was revised up to 4.6% in the government's third estimate. This was raised from the prior 4.2% growth estimate, though the upward revision had been expected by analysts. The final University of Michigan consumer sentiment index for September came in at 84.6, which was unchanged from the preliminary print but up from the final August reading of 82.5. COMPANY NEWS: Shares of Nike climbed $9.75, or 12.23%, to $89.50 after the company reported stronger than expected results and provided better than expected profit guidance. Following last night's report, a number of analysts reacted positively in notes this morning, including Janney Capital, which upgraded the stock to Buy from Neutral. Meanwhile, Deutsche Bank upgraded Under Armour (UA) to Buy, citing continued sector strength evidenced in Nike's results. Under Armour gained $2.27, or 3.36%, to $69.82 following the report from the industry leader and Deutsche's ratings action. MAJOR MOVERS: Among the notable gainers was Janus Capital (JNS), which surged $4.60, or 41.43%, to $15.72 after the company unexpectedly announced that "Bond King" Bill Gross, formerly of PIMCO, will join as a fund manager this Monday. Afterward, Citigroup upgraded Janus to Neutral from Sell, citing Gross' hiring. Also higher was Yahoo (YHOO), which jumped $1.71, or 4.39%, to $40.66 after activist investor Starboard Value announced it has acquired a significant ownership stake in the company and urged it to explore a strategic combination with AOL (AOL). Shares of AOL also rose $1.58, or 3.68%, to $44.55 following Starboard's public disclosure of its recommendation to Yahoo. Among the noteworthy losers was Finish Line (FINL), which was left out of the Nike-fueled rally in the sneaker sector and fell $4.30, or 14.62%, to $25.11 after the company reported second quarter earnings and revenue that missed expectations. Following Finish Line's Q2 report, the stock and peer Foot Locker (FL) were both downgraded to Neutral from Buy at Bank of America Merrill Lynch. Also lower were shares of AcelRx (ACRX), which fell $1.31, or 19.49%, to $5.41 and was downgraded to Neutral at Roth Capital after the company said it has to resubmit for FDA approval of its Zalviso drug. INDEXES: The Dow advanced 167.35, or 0.99%, to 17,113.15, the Nasdaq gained 45.45, or 1.02%, to 4,512.19, and the S&P 500 rose 16.86, or 0.86%, to 1,982.85.
13:55 EDTFLFoot Locker, Finish Line downgraded to Neutral at BofA/Merrill
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13:48 EDTFLFoot Locker downgraded to Neutral from Buy at BofA/Merrill
10:58 EDTFLFinish Line left out of sports footwear rally after earnings miss
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10:31 EDTFLNike runs higher after results, guidance beat expectations
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10:23 EDTFLFoot Locker trades up on the heels of strong Nike earnings
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06:22 EDTFLNike updated FY15 outlook 'surprisingly bullish,' says Citigroup
Citigroup says Nike (NKE) reported "impressive" Q1 results with a "surprisingly bullish" update to FY15 guidance on global momentum and gross margin gains. Citi raised its price target for shares to $93 from $92 and reiterates a Buy rating on the name. The firm views the results as a positive read-through for Foot Locker (FL).
September 18, 2014
09:22 EDTFLBack to school season healthy for footwear, says Sterne Agee
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07:36 EDTFLFoot Locker management to meet with UBS
Meeting to be held in Dublin, Ireland on September 18 hosted by UBS.

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