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June 4, 2014
09:56 EDTNKE, LULU, SKX, UAUnder Armour rises after analyst says growth potential underestimated
Shares of athletic apparel maker Under Armour (UA) are rising after research firm Jefferies upgraded the stock to Buy from Neutral in a note to investors earlier today. WHAT'S NEW: Jefferies analyst Randal Konik wrote that the firm's survey indicates that Under Armour's dominance with young people and women is growing, while many men are also buying the company's athletic apparel. The market is underestimating Under Armour's long-term growth potential, contended Konik, who predicted that the company can generate $15B in sales over the next decade, as athletic apparel sales should continue to be strong. He raised his price target on the shares to $65 from $50. OTHERS TO WATCH: Nike (NKE) competes with Under Armour in apparel, footwear, and other areas. lululemon (LULU) also makes athletic apparel, while Skechers (SKX) makes sports footwear. PRICE ACTION: In early trading, Under Armour gained 1.2% to $51.71.
News For UA;LULU;NKE;SKX From The Last 14 Days
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November 20, 2015
16:20 EDTNKEOn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session sharply higher, saw their highs in morning trading, and then slowly bled lower throughout much of the session. The averages still held on to gains, giving them their fourth winning session out of five this week and putting the finishing touch on one of the strongest weekly advances for stocks this year. ECONOMIC EVENTS: In the U.S., no major economic data was released. In Asia, China's Securities Regulatory Commission has restarted initial public offerings for five companies to list on the Shanghai stock exchange and five in Shenzhen, ending a five-month freeze on IPOs. COMPANY NEWS: Shares of Nike (NKE) advanced $6.84, or 5.44%, to $132.62 after the footwear and sports apparel giant announced a two-for-one stock split, a $12B stock repurchase program and plans to boost its dividend... Shares of Chipotle Mexican Grill (CMG) dropped sharply after the Center for Disease Control announced that three additional states have reported people infected within the E. coli outbreak linked to the company's restaurants. 45 people infected with the outbreak strain have now been reported from a total of six states - two in California, two in Minnesota, one in New York, one in Ohio, 13 in Oregon, and 26 in Washington - the CDC said. Chipotle shares closed down $76.52, or 12.5%, to $534.99 after the update. MAJOR MOVERS: Among the notable gainers was Cabela's (CAB), which gained $4.34, or 10.4%, to $46.10 after Bloomberg reported, citing people familiar with the matter, that the sporting goods retailer is receiving takeover interest and considering whether to commence a sales process. Also higher was Sarepta (SRPT), which jumped $7.29, or about 28%, to $33.36 after the FDA posted briefing materials ahead of next week's advisory committee meeting to review the New Drug Application for Kyndrisa, a Duchenne muscular dystrophy treatment under development from competitor BioMarin (BMRN). The committee review scheduled for Sarepta's rival drug, eteplirsen, is scheduled for January. BioMarin shares fell $6.11, or 5.9%, to $97.00 after the documents, which Piper Jaffray analyst Joshua Schimmer said take a "very harsh view" of the drug, were made public. Also lower were shares of Nimble Storage (NMBL), which plunged $10.34, or 50.7%, to $10.05 and was downgraded by at least eleven research firms following the company's significantly weaker than expected Q3 results and outlook. Peer Pure Storage (PSTG), which is scheduled to conduct its first earnings call as a public company in early December, also slid 15.3% to $14.74. INDEXES: The Dow rose 91.06, or 0.5%, to 17,823.81, the Nasdaq gained 31.28, or 0.62%, to 5,104.92, and the S&P 500 advanced 7.93, or 0.38%, to 2,089.17.
16:02 EDTNKE, UAOptions Update; November 20, 2015
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13:26 EDTNKEOn The Fly: Top stock stories at midday
Stocks began the session sharply higher and have remained there since the open. The move higher has come despite a barren economic calendar and amid headlines coming out of Mali regarding a new terrorist event that took place there. The equity market is working on its fourth higher close in the past five sessions, while oil prices continue struggling to stay above $40 per barrel. ECONOMIC EVENTS: In the U.S., no major economic data was released. COMPANY NEWS: Shares of Nike (NKE) advanced nearly 5% after the Dow member announced a two-for-one stock split, a $12B stock repurchase program and plans to boost its dividend... BioMarin (BMRN) shares were down 4% near noon, but that was well off their worst levels of the day, after the FDA posted briefing materials ahead of next weeks advisory committee meeting to review the New Drug Application for Kyndrisa for the potential treatment of Duchenne muscular dystrophy amendable to exon 51 skipping. Sarepta (SRPT), which is at work on a competing drug, eteplirsen, that has its own committee review scheduled for January, rose 31% and another player in the DMD space, PTC Therapeutics (PTCT), fell 7.5%. MAJOR MOVERS: Among the notable gainers was Abercrombie & Fitch (ANF), which rallied 21% after the company reported better than expected quarterly earnings. Also higher was Cabela's (CAB), which gained 10% after Bloomberg reported that the company was receiving takeover interest. In addition, Foot Locker (FL) was up 5% after reporting Q3 earnings and guiding for Q4. Among the noteworthy losers was Nimble Storage (NMBL), which fell 50% after its stock was downgraded by no fewer than 11 analysts following its quarterly report. Also lower was Mentor Graphics (MENT), which lost 32% after its shares were downgraded by no fewer than five analysts. INDEXES: In early afternoon trading, the Dow was up 101.65, or 0.57%, to 17,834.40, the Nasdaq was up 32.02, or 0.63%, to 5,105.66, and the S&P 500 was up 10.09, or 0.48%, to 2,091.33.
10:04 EDTNKEActive equity options trading on open
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09:41 EDTNKENike rises on $12B share repurchase program, dividend boost
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09:36 EDTUA, LULU, NKENike, not Under Armour, should buy lululemon, dealReporter says
Lululemon (LULU) gained 3.6% yesterday, which dealReporter credits to "unsubstantiated rumors" that Under Armour (UA) was planning to make a $62 per share takeover bid. Given the differences in their branding, marketing, and culture, dealReporter said it is not sure such a deal would be a good fit, but added that it believes Nike (NKE) is in the "right position at the right time" to make such an acquisition of lululemon work, contacts tell The Fly.
09:10 EDTNKEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Abercrombie & Fitch (ANF), up 16.3%... Foot Locker (FL), up 4.8%. ALSO HIGHER: Horizon Pharma (HZNP), up 1.6% after withdrawing offer to acquire Depomed (DEPO)... Nike (NKE), up 4.3% after announcing a $12B repurchase program, a two-for-one stock split, and that it will raise its dividend. DOWN AFTER EARNINGS: Nimble Storage (NMBL), down 45.3%... Mentor Graphics (MENT), down 28%. ALSO LOWER: Depomed, down 5.9% after Horizon Pharma withdrew its offer to acquire the company... Builders FirstSource (BLDR), down 3.7% after 7M share Spot Secondary priced at $13.25.
November 19, 2015
19:19 EDTNKEOn The Fly: After Hours Movers
UP AFTER EARNINGS: Intuit (INTU), up 8.1%... Ross Stores (ROST), up 8.2%. ALSO HIGHER: Cabela's (CAB), up 7.5% after Bloomberg reported that the company is receiving takeover interest... Nike (NKE), up 3.4% after announcing a $12B repurchase program, a two-for-one stock split, and that it will raise its dividend... Centene (CNC), up 2.4% after reiterating its fiscal 2015 earnings per share guidance... Universal Insurance (UVE), up 2.7% after announcing a new $10M share repurchase program. DOWN AFTER EARNINGS: Nimble Storage (NMBL), down 36.9%... Mentor Graphics (MENT), down 26.2%... Workday (WDAY), down 5.5%... Wesco Aircraft (WAIR), down 1.4%... Williams-Sonoma (WSM), down 3.7%... Zoe's Kitchen (ZOES), down 3.6%... Momo (MOMO), down 3.3%... Autodesk (ADSK), down 1%... Gap (GPS), down marginally.
16:21 EDTNKENike announces $12B repurchase program, boosts dividend, two-for-one stock split
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16:17 EDTNKENike announces $12B repurchase program, boosts dividend, two-for-one stock split
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12:23 EDTNKE, SKXSkechers announces 'favorable' ruling in Nike lawsuit
Skechers (SKX) announced that it has won a ruling over Nike's (NKE) wholly-owned subsidiary Converse relating to the Converse Chuck Taylor shoe. In a November 17 opinion, the Chief Administrative Law Judge of the ITC, the Honorable Charles Bullock, ruled that Skechers' Twinkle Toes and BOBS product lines do not infringe Converse's registered trademark for the Chuck Taylor midsole. In making his ruling, the Judge noted that both of the Skechers product lines feature prominent branding and that the Twinkle Toes line contains design features that "create enough differences that the shoes bearing them cannot be said to be similar to [the Chuck Taylor]." The Judge also stated that the survey evidence concluded that there was no likelihood that consumers would confuse the Skechers designs with those of Converse's Chuck Taylor designs. In addition, the Judge ruled that Converse has no common law trademark rights in the Chuck Taylor midsole because the design is not distinctive, not famous and has failed to acquire secondary meaning, Skechers said.
11:00 EDTLULUlululemon November calls active on renewed takeover speculation
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10:55 EDTLULURumor: lululemon strength attributed to renewed takeover speculation
The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved.
November 18, 2015
10:29 EDTNKEOptions with increasing implied volatility
Options with increasing implied volatility: TERP CSC SGMS RH BBRY ULTA SNDK ORCL NKE VNET
07:28 EDTUAUnder Armour sell-off on Dick's Sporting worries overdone, says SunTrust
November 17, 2015
10:01 EDTUA, NKEUnder Armour, Nike slide after Dick's outlook misses expectations
Shares of Under Armour (UA) and Nike (NKE) slipped after Dick's Sporting Goods (DKS) provided guidance for the fourth quarter and fiscal 2015 that both missed consensus estimates. WHAT'S NEW: Dick's Sporting Goods reported Q3 adjusted earnings per share of 45c on revenue of $1.64B, mostly in-line with analyst estimates of 47c on revenues of $1.64B. The company guided for Q4 EPS of $1.10-$1.25, short of the consensus estimate of $1.43. Dick's also said it anticipates FY15 adjusted EPS of $2.85-$3.00, lower than current analyst expectations of $3.19. STREET RESEARCH: Following the report, Baird analyst Justin Kleber said that Dick's Sporting Goods is the "strongest player" in its segment, which should enable the company to grow its sector-leading 10% market share at the expense of smaller competitors. The analyst added that profitability for the company should improve as volumes increase and as the company leverages its store base to fulfill further orders. Kleber said that Dick's Sporting Goods' e-commerce business will be more profitable than its brick-and-mortar business by 2017. The analyst maintained a Neutral rating and $48 price target on Dick's Sporting Goods' stock. PRICE ACTION: In morning trading, Dick's Sporting Goods dropped 17.5% to $33.67, while supplier Under Armour fell 5.6% to $84.95 and Nike was down 2% to $121.08. Dick's peers fell as well, with Finish Line (FINL) dropping 1%, Foot Locker (FL) slid 1.3% and Cabela's (CAB) dipping marginally in morning trading.
07:52 EDTSKXMorgan Stanley to hold a conference
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November 16, 2015
17:02 EDTLULUPoint72 added to lululemon position, subtracted from Netflix position
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08:51 EDTSKXSkechers price target lowered to $30 from $45 at Susquehanna
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05:09 EDTNKEStocks with implied volatility movement; TJX NKE
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