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Stock Market & Financial Investment News

News Breaks
June 27, 2014
11:04 EDTNKE, FL, M, FINL, DKSAthletic 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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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.
09:26 EDTDKSOn The Fly: Pre-market Movers
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07:25 EDTDKSDick's Sporting Goods unlikely to sell, NY Post says
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07:14 EDTDKSDick's Sporting Goods unlikely to sell, NY Post says
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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 28, 2015
08:47 EDTNKEAdidas CEO has no intention to resign despite losses to Nike, Reuters says
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January 23, 2015
12:39 EDTNKElululemon rises after JPMorgan analyst says EPS can more than double
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09:02 EDTMMacy's Sacramento fulfillment center to relocate to larger facility
Macy’s announced it plans to relocate its West Sacramento, CA, direct-to-consumer fulfillment center to a larger facility in a nearby location in Sacramento County to support continued sales growth driven by Macy’s omnichannel strategy. Contingent on approvals by the Sacramento County Board of Supervisors, Macy’s will begin operations in summer 2015 at a 385,000-square-foot facility at 6200 Franklin St., creating approximately 100 new jobs. The current 92,000-square-foot fulfillment center is located about 10 miles away at 3919 Channel Drive in West Sacramento. The current workforce of 72 associates is planned to grow to more than 175 after the move. Macy’s multi-million-dollar upgrade to the new fulfillment center will include building modifications and the latest technology in material handling equipment and warehouse management systems.
06:36 EDTNKElululemon upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded lululemon (LULU) to Overweight saying its recent field work has indicated positive traffic and demand trends while management is laying the foundation for sustainable growth. The firm raised its price target for shares to $75 from $50. The retailer of athletic apparel closed yesterday up 90c to $63.76. JPMorgan notes that its $75 price target reflects a 20% discount to peers Nike (NKE) and Under Armour (UAUA).
January 21, 2015
12:12 EDTMBest Buy, home retailers seen getting biggest bump from Sears demise
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06:59 EDTMMacy's sues Strategic Marks in brand dispute, NY Post says
Macy's is suing Strategic Marks after the company attempted to acquire certain Macy's brand names, including Abraham & Straus, Marshall Field’s, and Filene’s, reports the New York Post. Strategic Marks laid claim to the "dormant" brands, saying Macy's acquired then abandoned them in order to eliminate regional competition, and trial is set for March 2. The Post notes that Strategic is readying "its own launch of new merchandise and pop-up stores." Reference Link
06:52 EDTMMacy's sues Strategic Marks in brand dispute, NY Post says
Macy's is suing Strategic Marks after the company attempted to acquire certain Macy's brand names, including Abraham & Straus, Marshall Field's, and Filene's, reports the New York Post. Strategic Marks laid claim to the "dormant" brands, saying Macy's acquired then abandoned them in order to eliminate regional competition, and trial is set for March 2. The Post notes that Strategic is readying "its own launch of new merchandise and pop-up stores." Reference Link
January 20, 2015
09:44 EDTMSupreme Court denies appeal of 'swipe fee' ruling, Reuters reports
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