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News Breaks
December 20, 2012
12:07 EDTNKEEarnings Preview: Nike sees Q2 revenue growth in mid-high single digits
Nike (NKE) is expected to report Q2 earnings after the market close on Thursday, December 20 with a conference call scheduled for 5:00 pm ET. Analysts are looking for EPS of $1.00 on revenue of $5.99B. The consensus range is 97c-$1.04 for EPS and $5.89B-$6.2B for revenue, according to First Call. After reporting better than expected Q1 results, Nike guided Q2 revenue growth to be in the mid-high single digits and forecast margin expansion in 2H. On November 15, Nike announced a two-for-one stock split of both Class A and Class B common stock. Additionally, the company increased its quarterly dividend 17% to 21c per share on a post-split basis. Nike also announced it would sell its Cole Haan affiliate brand to Apax Partners for $570M. The transaction is expected to be completed in early 2013. Analysts and investors will listen for comments on plans to expand in Oregon, as it has pressed lawmakers to ensure that the state's corporate tax structure will not change for up to 40 years for companies that invest $150M in the state over five years and create 500 jobs. The company is also likely to comment on economic conditions in Europe, China and North America, as well as costs for packaging and other commodities. During the quarter, the stock was upgraded to Overweight from Neutral at HBSC and initiated with a Neutral at JPMorgan.
News For NKE From The Last 14 Days
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April 17, 2014
16:17 EDTNKENike appoints Gilt CEO Michelle Peluso to board
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April 16, 2014
16:22 EDTNKEUSA Track & Field, Nike sign long-term partnership
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07:05 EDTNKENike, Adidas output disrupted by China shoe factory strike, Bloomberg says
Employees at Nike (NKE) and Adidas (ADDYY) shoe supplier Yue Yuen Industrial in Dongguan, China have been on strike for three days in hopes to gain a 30% wage increase and better benefits, according to Bloomberg, citing a Yue Yuen spokesman. Reference Link
April 10, 2014
10:00 EDTNKEOn The Fly: Analyst Upgrade Summary
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08:10 EDTNKENike upgraded at Macquarie
As previously reported, Macquarie upgraded Nike to Outperform from Neutral. The firm is positive on Nike based on expectations for overseas revenue acceleration, strong futures orders, valuation, lower cost of production in Vietnam and sportswear category growth. Price target raised to $84 from $80.
05:57 EDTNKENike upgraded to Outperform from Neutral at Macquarie
April 8, 2014
12:12 EDTNKEOn The Fly: Midday Wrap
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10:03 EDTNKEOn The Fly: Analyst Upgrade Summary
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09:09 EDTNKEOn The Fly: Pre-market Movers
HIGHER: BioScrip (BIOS), up 6.7% after stock was named as a stock pick and a potential takeover target by Oscar Schafer while speaking on CNBC... Nokia (NOK), up 5% after deal to sell substantially all of its Devices & Services business to Microsoft (MSFT) receives regulatory approval in China... Ctrip.com (CTRP), up 4.6% after Bloomberg said, citing sources, that the company is in talks with Baidu-controlled (BIDU) Qunar (QUNR) about a partnership or a potential merger... Plug Power (PLUG), up 4.6% after CEO discusses plan to expand fuel cells to trucks in interview... FireEye (FEYE), up 2.5% following upgrade at Wedbush... Twitter (TWTR), up 2% following initiation of coverage with a Buy rating at at Janney Capital... Nike (NKE), up 1.75% after upgraded at Stifel. LOWER: Gigamon (GIMO), down 23% after lowering revenue outlook, shares downgraded at Pacific Crest... LivePerson (LPSN), down 3% after announcing resignation of EVP, Worldside Sales, shares downgraded at Benchmark... Cisco (CSCO), down 0.5% following downgrade to Hold from Buy at Wunderlich.
07:05 EDTNKENike upgraded at Stifel
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06:23 EDTNKENike upgraded to Buy from Hold at Stifel
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