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Stock Market & Financial Investment News

News Breaks
February 18, 2014
14:23 EDTWWWFollow-up: Wolverine World Wide downgraded to Sell at Citigroup
Citigroup downgraded Wolverine World Wide to Sell from Neutral citing slowing growth at Sperry and continued challenges in the first half of 2014 from weather and tough comps. Citi lowered its price target for shares to $25 from $35. Shares of Wolverine are down 9% to $25.52 in afternoon trading following the company's Q4 results
News For WWW From The Last 14 Days
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January 13, 2015
07:27 EDTWWWWolverine World Wide downgraded to Hold from Buy at Wunderlich
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January 12, 2015
18:43 EDTWWWWolverine World Wide drops in extended hours
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18:28 EDTWWWOn The Fly: After Hours Movers
UP AFTER EARNINGS: Alcoa (AA), up 1.4%; SYNNEX (SNX), up 5.4%. LOWER: Big 5 Sporting Goods (BGFV), down 8.3% after lowering fourth quarter revenue outlook... Wolverine World Wide (WWW), down 7.9% after reporting preliminary fourth quarter and fiscal 2014 results... Aimco (AIV), down 2.2% after filing to sell 8.2M shares of common stock... Brixmor Property Group (BRX), down 1.6% after offering 17.5M shares of common stock for holders.
16:43 EDTWWWWolverine World Wide sees FY15 EPS flat vs. FY14
In order to capitalize on opportunities for accelerated growth around the world, Wolverine World Wide plans to significantly increase brand-building investments in FY15- specifically, investments in consumer-demand creation, omnichannel initiatives and international expansion - all focused on deepening connections with consumers, elevating brand awareness and driving sustained growth for the company's portfolio of brands. The company estimates these incremental investments will total approximately $100M over the next three years, approximately $30M of which is currently planned for FY15. With a strong close to FY14 and the current momentum in the business - coupled with the implementation of the aforementioned investment plan - the company's preliminary outlook for FY15 is for mid-single digit revenue growth. This outlook reflects the impact of a significantly stronger U.S. dollar, the exit of the Patagonia Footwear license and the net impact of retail store closures associated with the previously announced Strategic Realignment Plan. In light of the strategic brand-building investments - combined with headwinds from foreign currency and pension expense, together, approximately 18c-22c per share, - the company currently expects its FY15 adjusted diluted earnings per share to be approximately flat compared to 2014.
16:41 EDTWWWWolverine World Wide sees FY14 adjusted EPS at high end of $1.57-$1.63
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16:41 EDTWWWWolverine World Wide sees Q4 revenue about $808M, consensus $790.15M
14:49 EDTWWWT. Rowe Price reports 10.1% passive stake in Wolverine World Wide

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