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Stock Market & Financial Investment News

News Breaks
June 26, 2014
12:53 EDTEBAY, NKE, SSNLFEarnings Preview: Analyst sees Nike reporting better than expected Q4 EPS
Nike (NKE) is expected to report fourth quarter earnings after the bell on Thursday, June 26, with a conference call scheduled for 5:00 pm ET. Nike sells athletic footwear, apparel, equipment and accessories worldwide. EXPECTATIONS: Analysts are looking for earnings per share of 75c on revenue of $7.34B. The consensus range is 70c-80 for EPS and $7.23B-$7.44B for revenue, according to First Call. LAST QUARTER: The company reported third quarter EPS from continuing operations of 76c, beating the consensus expectation of 72c. Nike's revenue of $7B also beat the $6.69B consensus projection. Nike reported a Q3 gross margin of 44.5%, which was up 30 basis points. The company also reported worldwide futures orders were up 12% to $10.9B. Nike forecast Q4 revenue growth at a high single-digit to low double-digit rate, below the futures growth rate largely due to the timing of shipments at the beginning and end of Q4, as well as lower levels of at once and closeout sales. Nike also forecast fiscal year 2014 revenue at the top end of a high-single digit target range. NEWS: The company forecast fiscal year 2015 EPS growth "somewhat below" the mid-teens target range and sees currency neutral revenue growth at or slightly above the high-single digit target range. The consensus forecast is $3.37 for EPS and $30.09B for revenue. On its Q3 earnings conference call, Nike predicted Q4 forex headwinds would be stronger than Q3. During the quarter, Reenie Benzinger was named Vice President of global apparel and eBay (EBAY) Chief Executive Officer John Donahoe was named to Nike's board. CNet said Nike was preparing to end production of wearable-hardware devices and laid off most of its workers responsible for developing its FuelBand fitness tracker. A spokesperson confirmed a "small number" of layoffs. The Wall Street Journal noted that older versions of Nike's FuelBand were up for sale at steep discounts. Bloomberg said Nike, which forecast revenue to hit $36B by the end of FY17, is looking to make its activity-tracking software the go-to app for products manufactured by other firms like Samsung (SSNLF). STREET RESEARCH: Sterne Agee believes that Nike's Nike and Jordan footwear sales in the U.S. have continued to be strong. The firm expects Nike will report higher than expected EPS for Q4. Canaccord does not see any upward revisions to guidance and expects growth to be somewhat below the mid-teens range. PRICE ACTION: Over the last three months, Nike shares are up almost 4%. Year-to-date, shares are up down over 3%. Ahead of this afternoon's earnings, shares are trading down 38c, or 0.5%, to $76.09.
News For NKE;EBAY;SSNLF From The Last 14 Days
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March 19, 2015
16:40 EDTNKENike up 1.56% to $99.85 after reporting Q3 financial results
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16:22 EDTNKENike repurchased 6.5M shares during Q3
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16:20 EDTNKENike reports Q3 inventories $4.2B, up 12% YoY
Inventories for NIKE, Inc. were $4.2B, up 12% from February 28 2014, driven by a 12% increase in NIKE Brand wholesale inventories as well as higher inventories associated with growth in DTC. NIKE Brand wholesale inventories were higher due to a 17% increase in units, while changes in the average product cost per unit, combined with the impact of changes in foreign currency exchange rates, decreased growth by approximately 5% points
16:18 EDTNKENike reports Q3 gross margin up 140 basis points to 45.9%
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16:16 EDTNKENike reports Q3 worldwide futures orders up 2%, up 11% ex-currency changes
16:15 EDTNKENike reports Q3 EPS 89c, consensus 84c
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15:19 EDTNKENotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Nike (NKE), consensus 84c... Mattress Firm (MFRM), consensus 48c.
14:20 EDTNKENike technical comments ahead of results
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13:46 EDTNKEEarnings Preview: Nike sees Q3 constant dollar revenue growth in low teens
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13:03 EDTNKENike March 97.5 straddle priced for 3.9% movement into Q3
11:18 EDTEBAYeBay cut to sell by noted analyst on mounting PayPal competition
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10:02 EDTEBAYOn The Fly: Analyst Downgrade Summary
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08:08 EDTNKENike historically hits earnings, but guidance, valuation could weigh, WSJ says
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05:42 EDTEBAYeBay downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Gene Munster downgraded eBay (EBAY) to Underweight, the firm's sell-equivalent rating, saying competition from Google Wallet (GOOG), Apple Pay (AAPL), Facebook (FB) and Samsung will weigh on PayPal's valuation and market share over the next three years. Munster notes shares of eBay are up 12% since the beginning of February due to optimism around the PayPal spin-out. He cut his price target for shares to $49 from $55. The online marketplace and PayPal owner closed yesterday down $1.07 to $58.42.
March 18, 2015
11:24 EDTEBAYeBay falls after Facebook adds friend-to friend payment option
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07:59 EDTNKENike March volatility elevated into Q3 and outlook
Nike March call option implied volatility is at 69, April is at 28, May is at 23, July is at 22; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on March 19.
March 17, 2015
08:45 EDTEBAYeBay marketplaces GMV to accelerate in 2H15, says Bernstein
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07:01 EDTEBAYeBay launches Sotheby's live auctions experience
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06:42 EDTEBAYeBay to start selling Sotheby items today, NY Times says
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05:57 EDTSSNLFChina vendors to ship 50M Androids with fingerprint sensors, DigiTimes reports
China vendors is expected to ship 50M Android (GOOG) smartphones with fingerprint sensors in 2015, reports DigiTimes. According to sources at Taiwan-based IC backend service companies, Android smartphone vendors have adopted sliding-type fingerprint sensors, which are more competitive in pricing compared to press-type sensors used by Apple (AAPL). Reference Link
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