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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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November 12, 2014
08:07 EDTMMacy's, Citi Retail Services renew card agreement
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08:05 EDTMMacy's CEO says optimistic for Q4
Macy's chairman and CEO Terry Lundgren said, "Going forward, we remain optimistic for the fourth quarter based on several factors. First, we have developed an outstanding merchandise assortment for holiday gift-giving and self-purchase rooted in great style, exclusive offerings and outstanding value during this key shopping period. Second, we have enhanced our transition to fresh post-holiday vacation and resort assortments. Third, we have new store, omnichannel and marketing strategies in place that we believe will drive incremental business throughout the fourth quarter. This includes Buy Online Pickup in Store now rolled out to all full-line Macy’s and Bloomingdale’s locations, Same Day Delivery pilots up and running in eight major Macy’s markets and four Bloomingdale’s markets, and improved functionality and usability in upgraded mobile apps. And fourth, we are poised to capitalize on a return to more normalized weather patterns after the unusually severe snowstorms in the fourth quarter last year."
08:04 EDTMMacy's says Q3 sales performance fell short of expectations
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08:03 EDTMMacy's lowers FY14 EPS view to $4.25-$4.35 from $4.40-$4.50
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08:01 EDTMMacy's reports Q3 EPS 61c, consensus 50c
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November 11, 2014
15:25 EDTMNotable companies reporting before tomorrow's open
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15:06 EDTMMacy's technical comments before earnings
The shares have been largely trading in a range of $55 at the low and $62 at the high in the year-to-date period. Ahead of results the shares are trading nearly in the middle of that range. Whether the news maintains the range or breaks it is the key. A move below $55 would be longer-term bearish, with the year-to-date price action becoming a clear topping pattern when viewed on a 5-year chart basis. Additional support levels below would be at $52.54 and $50.05. A move above $62 would be equally bullish, with the life high at $63.10 as next resistance. It would take a move above that life high to keep the shares on a bullish path. It is possible that the news won't be sufficiently strong to break the shares out, in which case the existing sideways trend channel would remain intact.
14:52 EDTMMacy's November 57.5 straddle priced for 5.8% move into Q3
12:09 EDTMEarnings Preview: Analyst says Macy's trends decelerated at back-end of Q3
Macy's (M) is scheduled to report third quarter earnings before the market open on Wednesday, November 12, with a conference call scheduled for 10:30 am ET. Macy's is a retailer that sell a range of merchandise, including apparel and accessories, cosmetics, home furnishings and other consumer goods. EXPECTATIONS: Analysts are looking for earnings per share of 50c on revenue of $6.34B, according to First Call. The consensus range for EPS is 46c-55c on revenue of $6.24B-$6.46B. LAST QUARTER: Macy's reported second quarter EPS of 80c on revenue of $6.23B, below estimates for 86c and $6.3B, respectively. Same-store sales, together with comparable sales of departments licensed to third parties, were up 4% from the prior year. Q2 comparable sales were up 3.4% vs. 2Q13. Macy's backed its fiscal year 2014 EPS guidance of $4.40-$4.50. The consensus for FY14 EPS at that time was $4.47. The retailer said its expectations for the second half of 2014 were "on track," with guidance for comparable store growth of 2%-3%. However, Macy's predicted FY14 SSS up 1.5%-2%, with FY14 comparable sales together with comparable sales of departments licensed to third parties up 2%-2.5%; previous guidance was for FY SSS up 2.5%-3%. NEWS: On its last earnings conference call, Macy's forecast fall season EPS of $3.04-$3.14 and said it expected Q3 SSS would be lower than fourth quarter SSS. The retailer also forecast second half total sales growth approximately 30 basis points lower than comp growth and gross margin rate "flat to down slightly" for the year. During the quarter, Macy's reached a resolution with the New York State Office of the Attorney General related to allegations of racial profiling in its New York stores. The retailer said it will launch same-day delivery this fall and announced plans to hire 86,000 seasonal associates for the 2014 holiday season. CNN said Macy's will open at 6pm on Thanksgiving Day. STREET RESEARCH: Cleveland Research said Macy's trends decelerated at the back-end of Q3, likely pressuring Q3 comp performance. The analyst expects promotional activity to pick-up in Q4 in order to capture share and traffic. ITG Research said in October that Macy's Q3 revenues were tracking to $6.25B. Northcoast upgraded Macy's to Buy from Neutral on November 5. PRICE ACTION: Over the last three months, Macy's shares are down 2%. The stock is trading down fractionally to $58.92 ahead of tomorrow's report.
08:59 EDTMMacy's trends softened in back-end of Q3, says Cleveland Research
Cleveland Research said Macy's trends decelerated at the back-end of Q3, likely pressuring Q3 comp performance. The analyst expects promotional activity to pick-up in Q4 in order to capture share and traffic, and to offset the challenging Q3 performance. Shares are Buy rated.
07:49 EDTFINL, DKSBofA/Merrill retail and consumer analysts hold analyst/industry conference call
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November 10, 2014
07:12 EDTMCA Technologies to hold a conference
CA World 2014 is being held in Las Vegas on November 9-12.
06:17 EDTNKENike price target raised to $107 from $93 at Citigroup
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05:48 EDTFINLU.S. Retail Softlines industry cut to Negative at Barclays
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November 7, 2014
10:43 EDTMMacy's November volatility elevated into Q3 and outlook
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10:00 EDTNKE, FL, FINLOn The Fly: Analyst Initiation Summary
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09:40 EDTFLFoot Locker upgraded to Positive from Mixed at OTR Global
06:53 EDTNKENike initiated with a Market Perform at FBR Capital
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06:51 EDTFLFoot Locker initiated with a Market Perform at FBR Capital
Target $54.
06:51 EDTFINLFinish Line initiated with a Market Perform at FBR Capital
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