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Stock Market & Financial Investment News

News Breaks
June 27, 2014
11:04 EDTM, FINL, DKS, NKE, FLAthletic footwear companies rise after earnings run past expectations
Shares of athletic apparel and footwear giant Nike (NKE) and sports shoe retailer Finish Line (FINL) are climbing after both companies reported better than expected quarterly sales and profits. NIKE: Nike's Q4 earnings per share of 78c beat analysts' consensus forecast by 3c while its revenue of $7.4B topped expectations of $7.34B. Nike's Q4 worldwide futures orders rose 11% compared to the prior year's quarter to $13.3B, or 12% higher on a currency neutral basis. Inventories as of May 31 for Nike were up 13% to $3.9B. The retailer reported that its Q4 gross margin expanded 170 basis points to 45.6%, with the increase being primarily attributable to higher average selling prices and continued growth in the higher margin Direct to Consumer business. During Nike's earnings conference call, the company said it sees FY15 China revenue growth up in the high-single digit range and faster revenue growth in Q1. Nike said that it anticipates FY15 revenue growth at a high single digit rate and expects Q1 reported revenue to grow at a low double digit rate. FINISH LINE: Finish Line reported that its Q1 EPS excluding certain items was 28c, which was 7c higher than analysts' consensus view. The company's Q1 revenue of $406.5M topped analysts' expectations of $394.5M. Finish Line reported that its Q1 same-store sales were up 5% and that it expects FY15 SSS to be up in the mid single digits. The retailer said it expects its FY15 EPS to increase in the high single to low double digit range over FY14 non-GAAP diluted EPS of $1.66. During Finish Line's earnings conference call, the company said that it feels "comfortable" with the upper end of it annual guidance range and it is "bullish" about its Macy's (M) business. The retailer sees the Macy's deal to be slightly accretive for this year. Finish Line noted that it feels "comfortable" with current Q2 EPS estimates. Consensus for Q2 EPS stands at 21c. The company believes comps to date in June are up in the low single digits, but Finish Line said that it foresees July and August to be stronger and it anticipates double digit earnings growth on a long-term basis. OTHERS TO WATCH: Rivals to Finish Line in the athletic market that also sell Nike products include Foot Locker (FL) and Dick's Sporting Goods (DKS). PRICE ACTION: During morning trading, Dow member Nike was up $1.43 or 1.9%, to $78.29 and Finish Line was up 93c, or 3.2%, to $30.08. Meanwhile, Foot Locker rose $1.38, or 2.8% to $50.69 and shares of Dicks were up 0.4% to $45.78.
News For NKE;FINL;FL;DKS;M From The Last 14 Days
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May 21, 2015
09:58 EDTNKEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Alibaba (BABA) initiated with an Outperform at Bernstein... Alkermes (ALKS) initiated with an Overweight at Barclays... Burlington Stores (BURL) initiated with an Outperform at FBR Capital... Crocs (CROX) initiated with a Neutral at B. Riley... Darling (DAR) initiated with a Buy at Roth Capital... Dynegy (DYN) initiated with an Outperform at RBC Capital... Esperion (ESPR) initiated with an Overweight at Barclays... Five Below (FIVE) initiated with a Market Perform at FBR Capital... Intercept (ICPT) initiated with an Overweight, $450 target at Barclays... Johnson Matthey (JMPLY) initiated with a Buy at Jefferies... Nike (NKE) initiated with a Buy at Jefferies... RTI Surgical (RTIX) initiated with a Buy at Sidoti... TeleNav (TNAV) initiated with an Outperform at Northland... Trevena (TRVN) initiated with an Equal Weight at Barclays... Vectrus (VEC) initiated with a Hold at Stifel.
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.
05:44 EDTNKENike initiated with a Buy at Jefferies
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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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07:27 EDTNKESkechers moves into second place in U.S. sports footwear market, WSJ says
Skechers (SKX) moved past Adidas (ADDYY) and into second place, behind Nike (NKE), in the U.S. athletic footwear market, reports the Wall Street Journal. Reference Link
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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07:27 EDTMMacy's management to meet with JPMorgan
Meeting to be held in Los Angeles on May 18 hosted by JPMorgan.
May 17, 2015
18:56 EDTMGoogle to feature 'buy' button in sponsored search results, WSJ says
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