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Stock Market & Financial Investment News

News Breaks
January 28, 2014
07:46 EDTSKXSkechers weakness a buying opportunity, says Brean Capital
Brean Capital views the recent weakness in Skechers as a buying opportunity following meetings with management. The firm believes the company has global brand awareness and a visible path to future sustainable profitability. Shares are Buy rated with a $39 price target.
News For SKX From The Last 14 Days
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October 30, 2014
10:02 EDTSKXOn The Fly: Analyst Initiation Summary
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08:04 EDTSKXSkechers initiated with an Overweight at Morgan Stanley
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October 29, 2014
18:02 EDTSKXSkechers initiated with an Overweight at Morgan Stanley
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October 23, 2014
07:50 EDTSKXSkechers price target raised to $67 from $65 at Susquehanna
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October 22, 2014
18:34 EDTSKXOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 13.1% after reporting third quarter results and increasing share repurchase authorization to $250M... Infinera (INFN), up 9.8%... Tractor Supply (TSCO), up 11.8%... Acacia Research (ACTG), up 7.7%... Marketo (MKTO), up 4.5%... O'Reilly Automotive (ORLY), up 3.9%... Fortinet (FTNT), up 1.5%... Mellanox (MLNX), up 2.9%... ServiceNow (NOW), up just under 1%. ALSO HIGHER: CarMax (KMX), up 1% after announcing a $2B increase to its share repurchase program. DOWN AFTER EARNINGS: Air Methods (AIRM), down 19.8% following preliminary third quarter results... Yelp (YELP), down 13.6%... Core Laboratories (CLB), down 7.9%... Varian Medical (VAR), down 4.9% after reporting fourth quarter results... Open Text (OTEX), down 3.9%... Citrix (CTXS), down 5.7%... Cheesecake Factory (CAKE), down 4.5%... Allied World (AWH), down 4.7%... Lam Research (LRCX), down 3.3%... Skechers (SKX), down just under 1% after reporting third quarter results above analyst estimates... AT&T (T), down 1.5%. ALSO LOWER: DIRECTV (DTV), down just under 1% following AT&T third quarter results... Alcobra (ADHD), down 16% following results of MDX study... WidePoint (WYY), down 8.1% after filing an automatic common stock shelf... New Mountain Finance (NMFC), down 4.4% after filing to sell 5M shares of common stock.
16:30 EDTSKXSkechers sees momentum carrying into 2015
The company said, "The continuous record revenue quarters in 2014 and the strong growth in all of our key business segments is evidence of the relevancy and demand for Skechers footwear worldwide. The more than 50 percent increase in our backlogs at the end of September and the strong sales during the first few weeks of October give us confidence that the momentum we are experiencing now will continue for the remainder of the year and into 2015. We are continuing our retail expansion and plan to open an additional 10 to 15 Company-owned Skechers stores before the end of the year, in addition to the 22 that opened in the third quarter and the five that have already opened this month. We also plan to open another 35 to 45 Skechers stores through our international distributor and franchise partners before the end of the year—which will bring us to the 1,000 store milestone. We are also improving our international efficiencies with the opening of a new distribution facility in Chile in the third quarter and the completion of phase one of the automation of our European Distribution Center in Belgium in the fourth quarter. With our relevant product and advertising, market share gain, and solid financial position, including, $440.8 million in cash, the Company is well positioned for continued growth. Though the fourth quarter is historically our smallest sales quarter for our international division, we remain comfortable with the analysts’ current consensus for both revenue and earnings. Given the strength of our backlogs for the first quarter of 2015, we anticipate top-line growth to be 15 to 20 percent.”
16:07 EDTSKXSkechers reports Q3 EPS $1.00, consensus 93c
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