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☆ JD Sports to buy U.S. rival Hibbett in $1.08 billion sportswear retail deal
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +2 min

(Photo by May James/SOPA Images/LightRocket via Getty Images)JD Sports Fashion has proposed to buy American athletic fashion retailer Hibbett Inc for about $1.08 billion, the companies said on Tuesday, as Britain's biggest sportswear retailer looks to expand across the southeastern U.S. The deal comes as shares in athletic clothing retailers come under pressure globally after weak outlooks from sports apparel makers such as Nike and Puma. It will pay $87.50 per Hibbett share in cash, representing a premium of about 20% to the U.S. firm's last closing price. JD Sports shares, which have fallen more than 20% so far this year, were up 6% by 0900 GMT. The deal is expected to add to the British firm's earnings in the first full year of ownership, with cost savings expected to be at least $25 million, JD said.

Persons: May James, Foot Locker, Dominic Platt, JD Organizations: UNITED, Getty, Hibbett Inc, Nike, Puma, Adidas, JD Sports, Paris Olympics Locations: UNITED KINGDOM, England, premarket U.S, U.S, North America, Bury, Greater Manchester

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Tesla, Netflix, PepsiCo, Micron, Meta, Starbucks and more
▼ + stars: | 2024-03-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley reiterates Starbucks as overweight Morgan Stanley said it's standing by its overweight rating on Starbucks shares. Morgan Stanley upgrades Pepsi to overweight from equal weight Morgan Stanley said the beverage giant is undervalued. Morgan Stanley initiates Ball Corporation as equal weight Morgan Stanley initiated the beverage can company and says the stock is fairly valued right now. Morgan Stanley names LifeStance a top pick Morgan Stanley named the mental health company a top pick on Monday. Morgan Stanley reiterates Micron as underweight Morgan Stanley raised its price target on the stock to $78 per share from $74.75 and said it's sticking with its underweight rating heading into earnings later this week.

Persons: KeyBanc, Morgan Stanley, it's, Telsey, ESAB, Mizuho, Goldman Sachs, Tesla, Raymond James downgrades, Raymond James, LifeStance, Wolfe, Bernstein, Truist, Wells, Wells Fargo, F2Q Organizations: Apple, JPMorgan, 1Q, Meta, HSBC, Nvidia, Netflix, RBC, Howmet Aerospace, York Community Bank, Pepsi, Ball, Citi, Micron, IT, Downside, Bank of America, Taiwan Semiconductor, Pinnacle, of America, Pinnacle West Capital Corp, ISI, UBS, CCL Locations: Berlin, underperform, Taiwan, Arizona, Underperform

☆ These 3 stocks could rally by another 50%, analysts say, despite big jumps this year
▼ + stars: | 2023-12-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Three stocks — Liberty Broadband , U.K.'s BT Group and JD Sports Fashion — have risen by double-digit percentages this year. Liberty Broadband Liberty Broadband is a telecommunication holding company that has an ownership interest in Charter Communications, the second-largest cable operator in the United States. The consensus price target of analysts polled by FactSet points to a 55% upside potential for Liberty Broadband shares from the current share price of $82. Deutsche Bank views Liberty Broadband as an attractive way to invest in Charter, estimating it trades at a 32% discount to net asset value (NAV). BT.A-GB YTD line Their price target of 220 pence implies an additional 79% share price increase over the next year from the current share price of 123 pence.

Persons: FactSet, Bryan Kraft, Benjamin Soff, Morgan Stanley, Openreach, Terence Tsui, Kate Calvert, Calvert, JD, Michael Bloom Organizations: Liberty Broadband, BT Group, JD, Wall, CNBC Pro, CNBC Pro Stock, Liberty Broadband Liberty Broadband, Charter Communications, Deutsche Bank, CHTR, BT, JD Sports, North America, Dick's Sporting Goods Locations: United States, Alaska, U.K, BT.A, Europe, North, Derby, Heerlen, Netherlands, U.S

☆ The shortened trading week features earnings from our best stock of the year
▼ + stars: | 2023-11-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

After making three trades this week, we're heading into a shortened trading week. NVDA YTD mountain Nvidia YTD Shares of Nvidia closed Nov. 14 at a record high of $496.56 each. Here's the full rundown of all the important domestic data in the week ahead, which also features a slew of earnings from brand-name retailers. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: FactSet, It's, Jim Cramer, NIU, Jack, JACK, Jim Cramer's, Jim, New York Stock Exchange Michael Nagle Organizations: Fed, TJX, Palo Alto Networks, PMI, ISM, Institute for Supply Management, Nvidia, Apple, Technologies, Video Communications, Agilent Technologies, Baidu, Abercrombie, Fitch, Burlington Stores, Eagle Outfitters, Dick's Sporting, Autodesk, HP, Nordstrom, Urban Outfitters, Deere & Company, CNBC, New York Stock Exchange, Bloomberg, Getty Locations: U.S, China

☆ Lululemon raises annual forecasts for second time on buoyant demand
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Aug 31 (Reuters) - Lululemon Athletica (LULU.O) lifted its annual sales forecast for a second time on Thursday, betting on steady demand for its activewear from affluent shoppers in North America and China. Like industry peer Hibbett (HIBB.O), Lululemon has also been launching new products such as "road-to-trail" running shoes and introducing new colors in its sports apparel in a bid to attract more customers to shop at its stores. The company now expects full-year 2023 revenue between $9.51 billion and $9.57 billion, compared with its prior estimate of $9.44 billion to $9.51 billion. Lululemon now expects annual profit between $12.02 and $12.17 per share, compared with its prior estimate of $11.74 to $11.94 per share. Reporting by Granth Vanaik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Hibbett, Lululemon, Granth, Maju Samuel Organizations: Nike, Dick's Sporting, Thomson Locations: North America, China, Bengaluru

☆ Morning Bid: Dollar rockets as Powell trumps AI
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +5 min

Fed Chair Jerome Powell is due to deliver a keynote address to the annual central banking symposium in Jackson Hole at 1405 GMT. And given increasingly contrasting fortunes of economies on either side of the Atlantic, Powell's words are expected to contain a different message to the one from European Central Bank President Christine Lagarde later in the day at 1900 GMT. Turkey's lira gave back only some of Thursday's gains after its central bank shocked with a 750 basis point interest rate to 25%. Events to watch for on Friday:* Federal Reserve Chair Jerome Powell gives keynote speech at annual Fed symposium in Jackson Hole. European Central Bank President Christine Lagarde also speaks at Jackson Hole.

Persons: Mike Segar, Mike Dolan, Jerome Powell, Christine Lagarde, Ifo, Jackson, Powell, Patrick Harker, Susan Collins, Collins, Harker, BoE, China's bourses, Christina Fincher Organizations: Wall, New York Stock Exchange, REUTERS, Federal Reserve, Nvidia, European Central Bank, Philadelphia Fed, Boston Fed, ECB, Bank of, Treasury, Reuters, Authorities, University of Michigan's, Marvell, Reuters Graphics Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Jackson, Bank of England, Asia, Jackson Hole, Jakarta

☆ Dick's Sporting shares slide as costs, inventory shrink slam annual profit outlook
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Aug 22 (Reuters) - Dick's Sporting Goods shares (DKS.N) slumped as much as 24.5% on Tuesday as the footwear retailer slashed its full-year profit target after missing expectations for the second quarter. A shopper browses merchandise at a Dick's Sporting Goods store in Collegeville, Pennsylvania U.S. November 20, 2020. REUTERS/Mark Makela Acquire Licensing RightsRetailers including Dick's Sporting Goods have been trying to find ways to cut costs as margins take a hit from soaring supply chain and labor expenses. On an adjusted basis, the company expects to earn $11.50 per share to $12.30 per share for the full year. Dick's shares were trading at $111.14 and dragged shares of rival retailers.

Persons: Mark Makela, Lululemon, Armour, Foot, Juveria, Eileen Soreng Organizations: Sporting Goods, Dick's Sporting, Collegeville , Pennsylvania U.S, REUTERS, Dick's Sporting Goods, Nike, Thomson Locations: United States, Collegeville , Pennsylvania

At least seven analysts trimmed their fiscal 2024 expectations for Nike's earnings per share since the beginning of June and 10 slashed their price targets on the company's stock, ahead of its fourth-quarter results. "Coming into this current calendar year ... wholesale orders are weak at the moment," said Morningstar analyst David Swartz, adding that declines in these orders will have a negative impact on Nike. Reuters GraphicsTHE CONTEXTIn March, Nike warned of earnings pressure amid its attempts to get rid of excess inventory through heavy discounts. In May, retailer Foot Locker, which has touted its 'renewed' relationship with Nike, also flagged declining sales, particularly for fashion-oriented sneakers. Barclays analysts noted Nike could see "moderation, and potentially negative, wholesale channel growth" in the fourth quarter.

Persons: David Swartz, Jane Hali, Jessica Ramirez, Kanye, Ananya Mariam Rajesh, Krishna Chandra Organizations: Nike, Wall, Associates, Adidas, Jordan Retro, LeBron, Nike Brand, Barclays, Reuters, Refinitiv, Thomson Locations: United States, China, Bengaluru

☆ Foot Locker slumps as weak demand, heavy discounts drive annual outlook cut
▼ + stars: | 2023-05-19 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

May 19 (Reuters) - Foot Locker Inc's (FL.N) shares closed down 27% on Friday as the footwear retailer cut its annual sales and profit forecasts amid a sharp drop in demand and a hit from heavy discounts aimed at clearing excess inventories. The company also missed analysts' estimates for first-quarter results and named former Kohl's Corp (KSS.N) executive Mike Baughn as its new finance chief, effective June 12. Foot Locker doubled down on discounts to drive demand, which coupled with an increase in theft-related inventory losses led to a 400-basis point hit to the company's quarterly gross margins. Foot Locker now expects full-year comparable sales to fall between 7.5% and 9.0%. The company also forecast annual adjusted per-share earnings between $2.00 and $2.25, compared with its previous outlook of $3.35 to $3.65.

Analysts are also bullish on the stock, with 14 out of 15 analysts covering the company rating it a buy or strong buy, according to Refinitiv data. Seven out of nine analysts covering the stock rate it a strong buy or buy. Analysts are also bullish on the stock, with 14 out of 15 analysts covering the company rating it a buy or strong buy, according to Refinitiv data. Seven out of nine analysts covering the stock rate it a strong buy or buy. Kennametal Inc KMT ANALYST CONSENSUS 10 Ratings Hold 1 Strong Buy 1 Strong Buy 0 Buy 0 Buy 6 Hold 6 Hold 3 Underperform 3 Underperform 0 Sell 0 Sell Current Price ( ) 35.00 Highest Price Target Upside (6.07%) 27.44 Average Price Target 19.00 Lowest Price Target

☆ Nike and Lululemon are obliterating the competition when it comes to drawing customers to stores
▼ + stars: | 2023-03-17 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Foot traffic at Nike and Lululemon stores increased each of the last three monthsDuring the same time period, foot traffic at sporting goods apparel stores decreased. Traffic increased more than 11% at Lululemon stores and nearly 6% at Nike stores while traffic at sporting goods apparel stores decreased by nearly 8%, according to a new report from Placer.ai, a retail analytics firm. The sporting goods apparel category for Placer.ai includes chains such as Dick's Sporting Goods and Hibbett. Lululemon stores host yoga classes. While foot traffic is increasing at Nike and Lululemon stores, in recent months several brands, including Nike, Adidas, and Allbirds, have signaled renewed interest in wholesale channels.

☆ Top analysts are bullish on these five stocks in uncertain times
▼ + stars: | 2023-03-12 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are five stocks to weather the storm, according to Wall Street's top professionals on TipRanks, a platform that ranks analysts based on their past performance. Despite the ongoing pressures, cloud-based data warehouse company Snowflake (SNOW) delivered upbeat quarterly results. The company's fiscal 2023 fourth-quarter results missed expectations due to macro pressures, higher costs, supply chain issues and increased promotional activity. TD Cowen analyst Shaul Eyal remains bullish about Zscaler and reiterated a buy rating with a price target of $195 following the results. (See Zscaler Hedge Fund Trading Activity on TipRanks) Eyal holds the 15th position among more than 8,000 analysts on TipRanks.

☆ Stocks making the biggest moves midday: Apple, Chevron, Bilibili, Hibbett & more
▼ + stars: | 2022-11-29 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Hibbett — Shares of Hibbett dropped more than 9% after the company posted a disappointing profit for the third quarter. Chevron — The energy stock rose more than 1% as oil prices rebounded from Monday's sell-off. Wynn Resorts , Las Vegas Sands — Shares of casino operators Wynn Resorts and Las Vegas Sands jumped 2.6% and 1.8% respectively on news that China has given new licenses to operators in Macao so that they can keep operating amid the government's zero Covid policy. Darden Restaurants — Shares of Olive Garden's parent company slipped roughly 1% following a downgrade to neutral from Baird. The firm said the "risk/reward looks more balanced" for Darden Restaurants following the stock's recent outperformance.

☆ Stocks making the biggest moves in the premarket: Hibbett, Silvergate Capital, Chemours and more
▼ + stars: | 2022-11-29 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Silvergate Capital (SI) – The digital assets bank's shares fell another 2.4% in the premarket, extending yesterday's 11.1% loss. Chemours (CC) – Chemours tumbled 6.1% in premarket trading after the chemical maker said its full-year earnings were tracking slightly below the low end of its prior guidance range. United Parcel Service (UPS) – UPS gained 1.4% in the premarket after Deutsche Bank upgraded the delivery service's stock to "buy" from "hold." HSBC (HSBC) – HSBC struck a deal to sell its Canadian unit to the Royal Bank of Canada for $10.1 billion in cash. Roku (ROKU) – Roku shares fell 2.9% in premarket action after KeyBanc downgraded the video streaming device company's stock to "sector weight" from "overweight," saying several facets of its bullish thesis on Roku failed to play out.

☆ Stocks finish higher as the Street awaits key inflation data next week
▼ + stars: | 2022-11-25 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

Stocks finished higher on this holiday-shortened trading week, with all the major U.S. averages posting gains. Under the hood, all sectors closed higher for the week, led by utilities, materials and financials. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. The U.S. Federal Reserve, alongside global central banks, has been trying to get a handle on soaring inflation.

☆ Stocks making the biggest moves midday: Xerox, Logitech, Upstart, Hibbett, Planet Fitness & more
▼ + stars: | 2022-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Xerox — Shares plunged 15% after the seller of print and digital document products and services reported disappointing earnings and cut its full-year revenue guidance. Brown & Brown — Shares of the insurance company dropped 11% after Brown & Brown missed earnings expectations. Brown & Brown posted earnings of 50 cents per share on revenue of $927.6 million. PulteGroup — The home construction company jumped 5.9% despite disappointing earnings expectations. General Motors — Shares of General Motors rose 3.6% after the automaker handily beat third-quarter earnings expectations.

☆ Buy this resilient sports retailer with strong Nike ties, Bank of America says in upgrade
▼ + stars: | 2022-10-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Hibbett 's strong relationship with Nike should help boost share gains for the sporting goods company going forward, Bank of America said. Among his reasons for liking the stock, Perry drew attention to the company's relationship with Nike and the availability of highly sought-after products like the Air Force 1 shoes. "We believe HIBB's relationship with Nike is very strong as HIBB provides access to underserved geographies and customers that are complementary to Nike's direct-to-consumer (DTC) business (esp. "Importantly, we do not believe HIBB is losing access to Nike product, and do not expect its Nike penetration to decline meaningfully." "We did not see evidence of elevated in-store promotional activity, as we believe HIBB is clearing excess inventory on-line Shares of Hibbett are down 21% this year.

☆ Here are Tuesday's biggest analyst calls of the day: Apple, Amazon, Tesla, Microsoft, Rivian & more
▼ + stars: | 2022-10-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: Piper Sandler initiates Deckers as overweight Piper said it's bullish on the company's Hoka shoe brand. Bernstein reiterates Tesla as underperform Bernstein said it's concerned about China competition for Tesla. Mizuho reiterates Rivian as buy Mizuho said Rivian is best positioned with China concerns and potential EV slowdowns globally. Morgan Stanley reiterates Tesla as overweight Morgan Stanley lowered its price target on Tesla to $330 per share from $350 and said it's changing estimates to account for "unexpected headwinds." JPMorgan reiterates Apple as outperform JPMorgan said it has "resilient expectations" heading into Apple earnings later this week.

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