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Stock Market & Financial Investment News

News Breaks
June 27, 2014
12:56 EDTNKE, DD, FINL, MTW, DG, LITB, ROCKOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday with DuPont's (DD) slide weighing down the blue-chip Dow more than Nike's (NKE) advance is helping it. Stocks began the session in negative territory but soon turned mixed, where they have remained, with the Nasdaq the leader and the Dow the laggard. The averages have stalled, but they still remain on track to be positive for the month of June, though the month does not end until after Monday's session. ECONOMIC EVENTS: In the U.S., the final University of Michigan consumer sentiment index for June rose to 82.5, which beat the consensus expectation for a reading of 81.9. COMPANY NEWS: Shares of athletic apparel and footwear giant Nike and sports shoe retailer Finish Line (FINL) climbed after both companies reported better than expected quarterly sales and profits. Near midday, Dow member Nike rose 1.6%, while Finish Line advanced 1.4%... Another member of the Dow Jones Industrial Average, DuPont, moved in the opposite direction, falling over 4.5% after the chemical company cut its earnings outlook for its second quarter and its current fiscal year. MAJOR MOVERS: Among the notable gainers was LightInTheBox (LITB), which jumped 20% after the company raised its Q2 revenue outlook. Also higher was Manitowoc (MTW), which gained 9% and was upgraded to Hold at Jefferies after activist Relational Investors took an 8.5% stake in the company and urged for a spin-off of its food business. Among the noteworthy losers was Gibraltar Industries (ROCK), which dropped nearly 10% after cutting its Q2 outlook, stating that end market demand in the quarter did not rebound as expected. Also lower were shares of discount retailer Dollar General (DG), which fell over 7% after Chief Executive Officer Rick Dreiling announced plans to retire. INDEXES: Near midday, the Dow was down 36.58, or 0.22%, to 16,809.55, the Nasdaq was up 7.41, or 0.17%, to 4,386.45, and the S&P 500 was down 1.60, or 0.08%, to 1,955.62.
News For NKE;DD;FINL;MTW;DG;LITB;ROCK From The Last 14 Days
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August 27, 2014
15:10 EDTDGDollar General August 64 straddle priced for 4.6% move into Q2
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07:28 EDTNKENike gaining share in U.S. back to school market, says Stifel
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August 26, 2014
09:25 EDTDDFarm Progress Companies to hold a show
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August 25, 2014
14:37 EDTDGDollar General weekly volatility elevated into Q2 and outlook
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August 22, 2014
16:42 EDTDGMarket finishes week higher on economic data, earnings
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10:48 EDTFINLFoot Locker jumps after earnings beat expectations
Shares of shoe and apparel retailer Foot Locker (FL) are higher after the company reported second quarter earnings which exceeded analysts' expectations. WHAT'S NEW: Foot Locker reported Q2 adjusted earnings per share of 64c, which surpassed analysts' consensus of 54c. The company's Q2 revenue was $1.64B, which was higher than analysts' consensus of$1.57B. Foot Locker's same-store-sales increased 7% and its gross margin rate was up 32% for the quarter. WHAT'S NOTABLE: During the company's conference call, Foot Locker said third quarter comparable sales are positioned to experience mid-single digit gains. The company noted that it is making "good progress" on maintaining a "solid" flow of inventory and its inventory overall is well-positioned for the upcoming back-to-school and fall seasons. Foot Locker is still on-track to close just over 100 stores this year, but some closures are expected to happen at the beginning of FY15. The retailer is projecting to open 80 stores this year mostly in Europe and Kids Foot Locker, which is an increase from the company's initial projection of opening 60 stores. A high-single digit comparable sales gain has been experienced by the company so far in August. It anticipates a SG&A improvement of 30-40 basis points and gross margins to be up 20-40 basis points in Q3. ANALYST OPINION: Two days ago, Canaccord said that they were positive on Foot Locker prior to Q2 earnings results since they foresaw the results to be "solid." The firm felt that the retailer was "well-positioned" to still benefit from its target of expanding toward casual athletic footwear. The firm maintained a $56 price target on Foot Locker with a Buy rating. Yesterday, UBS increased its price target on Foot Locker to $58 from $54 right before the retailer announced its Q2 results. The firm anticipated higher than expected earnings, positive SSS trends and the potential for increased guidance and valuation. UBS kept Foot Locker with a Buy rating. OTHERS TO WATCH: Foot Locker competitor Finish Line (FINL) is scheduled to report its Q2 quarter earnings on September 25. PRICE ACTION: During morning trading, Foot Locker shares rose $1.60 or just over 3%, to $54.17, and Finish Line shares rose 19c, or 0.65%, to $29.62.
07:30 EDTDGDollar General CEO comment to be noted by FTC, NY Post reports
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August 21, 2014
13:42 EDTDGDollar General reaffirms commitment to acquisition of Family Dollar
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12:12 EDTDDDuPont files patent infringement lawsuit against SunEdison
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11:24 EDTNKEUnder Armour offered Durant $265M-$285M contract, ESPN reports
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09:05 EDTDGDollar Tree sees Family Dollar deal closing by early 2015
Says continuing to work on proposed transaction with Family Dollar (FDO). Sees deal closing by early 2015. Will not make any further comments at this time on Family Dollar/Dollar General (DG). Comments made on the Q2 earnings conference call.
08:04 EDTDGFamily Dollar: Dollar General declined to schedule talks on antitrust issues
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08:03 EDTDGFamily Dollar: Dollar General's letter contained 'blatant mischaracterizations'
08:02 EDTDGFamily Dollar reaffirms recommendation in support of merger with Dollar Tree
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08:01 EDTDGFamily Dollar board rejects Dollar General proposal based on antitrust issues
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08:00 EDTDGFamily Dollar board rejects Dollar General proposal based on antitrust issues
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07:55 EDTDGFamily Dollar to reject Dollar General takeover bid, CNBC reports
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05:35 EDTDGDollar General sends letter to Family Dollar board
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August 20, 2014
06:11 EDTLITBLightInTheBox sees Q3 revenue $92M-$94M, consensus $84.95M
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06:11 EDTLITBLightInTheBox reports Q2 EPS (11c), consensus (11c)
Reports Q2 revenue $89.8M, consensus $84.8M.
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