Nike (NKE) was up more than 3% in after-hours trading yesterday after releasing its earnings after the close. Now it’s up just 0.4%. What gives? Morgan Stanley’s Jay Sole and team explain how Nike was “caught offside”:
First, Nike N. Am. futures growth decelerated 500 bps q/q. The implication is Nike is either losing share or the athletic wear category is weakening or both. Overall sales will likely be better, but probably mostly due to clearing excess inventory via outlet stores, which is not the healthy type of growth the market is looking for. Second, inventory levels remain too high, likely a consequence of slower than expected sales. Nike’s next quarter sales growth (+5.5%) to inventory growth (+9.5%) spread is -4%, only 50 bps q/q improvement. We thought the 2Q spread would be better. The result is Nike’s gross margin will likely be pressured more than the Street expects for at least the next two quarters.
international stock markets: ADTRAN Inc.(ADTN)
- [By Monica Gerson]
Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional . These trades were placed during Thursday’s regular session.
- [By Monica Gerson]
ADTRAN, Inc. (NASDAQ: ADTN) is projected to post its quarterly earnings at $0.08 per share on revenue of $141.07 million.
Layne Christensen Company (NASDAQ: LAYN) is estimated to post a quarterly loss at $0.35 per share on revenue of $156.10 million.
international stock markets: Wabash National Corporation(WNC)
- [By Travis Hoium]
Shares of Wabash National Corporation (NYSE:WNC) jumped 10.1% in April, according to data provided by S&P Global Market Intelligence, after the company reported its first-quarter 2017 results.
international stock markets: Tencent Holdings Ltd (700)
- [By Belinda Cao]
Sohu.com Inc. (SOHU), which sold a stake in its search unit to Tencent Holdings Ltd. (700), advanced 11 percent for the week to $72.06. It retreated 5.9 percent Sept. 20. Tencent, Chinas biggest Internet company by market value, paid $448 million for a 36.5 percent stake in Sohus Sogou unit last week and merge its own search service with Sogou.
international stock markets: Douglas Dynamics Inc.(PLOW)
- [By Lisa Levin] Related PLOW 18 Biggest Mid-Day Losers For Tuesday 18 Biggest Mid-Day Gainers For Tuesday Douglas Dynamics Inc (PLOW) Chairman, President and CEO James L Janik Bought $59,5 of … (GuruFocus) Related TIF Your Luxury Brands Earnings Cheat Sheet Guggenheim Initiates Coverage On 21 Retail Stocks Tiffany & Co: China Market Will Drive Earnings Growth For The Next Decade (Seeking Alpha)
It’s critical to know whether a stock you plan on buying has an ex-dividend status, because in case it does, the dividend would be paid out to the seller. The person who owns the stock on the ex-dividend date will be awarded the payment, which means that you’ll have to wait for the next dividend cycle to receive your first dividend payout from the company.
international stock markets: Sapiens International Corporation N.V.(SPNS)
- [By Lisa Levin] Gainers Trevena Inc (NASDAQ: TRVN) rose 10.8 percent to $3.60 in pre-market trading after dropping 4.97 percent on Wednesday. Yum China Holdings Inc (NYSE: YUMC) rose 10.2 percent to $31.05 in pre-market trading after the company reported upbeat earnings for its first quarter. Seres Therapeutics Inc (NASDAQ: MCRB) rose 9.1 percent to $11.39 in pre-market trading after dropping 5.26 percent on Wednesday. Plug Power Inc (NASDAQ: PLUG) rose 8.9 percent to $2.45 in pre-market trading after surging 73.08 percent on Wednesday. Coach Inc (NYSE: COH) rose 6.7 percent to $41.98 in pre-market trading. Coach named Ian Bickley as President, Global Business Development and Strategic Alliances. Sapiens International Corporation N.V. (NASDAQ: SPNS) shares rose 6.1 percent to $13.91 in pre-market trading after gaining 0.54 percent on Wednesday. Jazz Pharmaceuticals plc (NASDAQ: JAZZ) rose 6.1 percent to $149.15 in pre-market trading. Jazz Pharma reached a settlement with Hikma Pharma related to Xyrem patent case. Mizuho downgraded Jazz from Buy to Neutral. Interactive Brokers Group, Inc. (NASDAQ: IBKR) shares rose 6 percent to $36.72 in pre-market trading after declining 0.03 percent on Wednesday. Rewalk Robotics Ltd (NASDAQ: RWLK) rose 5.3 percent to $2.00 in pre-market trading after the company disclosed that the U.S. Department of Veterans Affairs purchased 28 added Exoskeleton Systems. Merrimack Pharmaceuticals Inc (NASDAQ: MACK) rose 5.1 percent to $3.29 in pre-market trading. Merrimack declared a $1.06 special dividend. BioTime, Inc. (NYSE: BTX) shares rose 4.8 percent to $3.50 in pre-market trading. BioTime, reported the formation of new subsidiary AgeX Therapeutics, Inc. Akari Therapeutics PLC (ADR) (NASDAQ: AKTX) shares rose 4.8 percent to $12.26 in pre-market trading after gaining 0.69 percent on Wednesday. Bed Bath & Beyond Inc. (NASDAQ: BBBY) rose 3.6 percent to $39.15 in pre-market trading after the company posted better-than