Latest news with #Dicks
Yahoo
7 days ago
- Business
- Yahoo
Dick's is buying Foot Locker for 'a very fair price': Analyst
Amid its $2.4 billion deal to acquire shoe retailer Foot Locker (FL), Dick's Sporting Goods (DKS) is maintaining its full-year profit forecast. Morningstar senior equity analyst David Swartz comes on The Morning Brief to weigh in on Dick's recent stock activity and share his thoughts on the retailer's acquisition of Foot Locker. Also catch David Swartz weigh in on department store Macy's (M) progress in its turnaround plan. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. In your notes, you mention and given your star rating on the firm, I can tell that you have questions about the valuation. How does the Foot Locker acquisition impact how you're thinking about the valuation of Dicks going forward? Yeah, it's hard to say because it's still early. The Foot Locker deal was just announced last week and people are still trying to assess how it's going to impact Dicks in the short term and the long term. Uh, I was probably one of the few that actually thought that Dicks was quite overvalued when it was over $200 a share. I thought it was worth closer to $160. Um, so when the stock fell after the Foot Locker deal, to me that was partly because Dick's stock was overvalued to begin with. I understand why Dick's stock was at such a high level because Dicks has been performing extremely well in the last few years. Uh, the business has really transformed and it's been outperforming everybody, certainly including Foot Locker. And so a lot of people are very unhappy that Dicks is combining with Foot Locker, which realistically is an inferior business, but I think that Dicks is buying it for a very fair price at about two and a half billion dollars for Foot Locker. The Foot Locker stock price has been weighed down. And so, even though Dicks is paying a premium over where the stock had been trading, uh, they're still, I think, buying it at a fair price, at only about six times depressed EBITDA. And I think from Dick's management's perspective, they're able to buy Foot Locker here for a very attractive valuation. All right. We are going to be watching closely as that deal looks to close. David, thanks so much. Appreciate it.
Yahoo
15-05-2025
- Business
- Yahoo
Dick's & Foot Locker, Deere, CoreWeave & OpenAI: Trending Tickers
Market Domination hosts Julie Hyman and Josh Lipton cover today's trending tickers. Dick's Sporting Goods (DKS) is making a $2.4 billion move to acquire Foot Locker (FL), aiming to boost digital sales and expand globally. Deere (DE) stock hits a record high after topping earnings expectations, despite trimming its full-year profit outlook. CoreWeave (CRWV) stock swings after disclosing a new $4B agreement with OpenAI ( To watch more expert insights and analysis on the latest market action, check out more Market Domination here. Now time for some of today's training ticker, sponsored by tastytrade, we're checking in on the big deal of the day between Dicks and Foot Locker, as well as earnings reaction to Deere and Corwee. First up, let's talk about Dicks sporting goods. It is buying Foot Locker in a $2.4 billion deal aimed at expanding international reach and boosting Foot Locker's digital presence. The deal has shares of Foot Locker soaring today, Dicks going down by quite a lot here. Now, you tend to see an acquirer dinged. But there are a lot of questions from analysts about this deal and whether it was the right one for Dicks. Foot Locker has been struggling to some extent. Some analysts saying Dicks has been on good footing, and they're really questioning whether this is the time to make this deal. Yeah, I saw, I think it was city here, uh, saying Dicks is proven operator. They do say Foot Locker has opportunity to be run better, says they could have, uh, more buying power with key brands combined, have around, looks here around 30% of Nike's wholesale business. I also saw analysts at Bloomberg weighing in. Foot Locker's in the midst, they say of a challenging turnaround. It needs the buyout from Dicks versus the other way around, validated, they say by week preliminary Q1 results for Foot Locker, a contrast, they say to Dickspeat. Yeah, I also thought it was interesting Jonathan Comp over at Berard saying that this deal is a leveraged bet on Nike's turnaround. As we've talked about in the past, Foot Locker is very overindexed to the likes of a Nike, and that relationship has sort of, uh, been hot and cold over the past couple of years as Nike sort of went with a more direct to consumer strategy, then came back around to using Foot Locker as a channel. So it's going to be real interesting, and we're going to talk more about this with Sam Poser, who's longtime footwear analyst later in the show. Sam. Sam is the man to talk to on this story, for sure. Shares of Deere hitting an all-time high. That's after topping earnings expectations. The earnings beat comes even as profits fell 22 versus 22% compared to the same period last year. So, uh, beat estimates. Net income did drop 22% for the year earlier to 664 a share, but the street expected 557. So that's good enough. They did trim their profit outlook for the year. They're now looking for between 4.75 and 5.5 billion. Yeah, basically the shares are trading at a record. Did you say that already? Forgive me if you did. The shares are The shares are in a record. Um, and it seems like there's a lot of optimism about the farm cycle sort of inflecting higher from here. Um, over at Jeffries, there was an analyst there who said, we see nothing in today's results that calls into question the thesis that 2025 should mark a bottom in the egg cycle. So it's as much about today as it is about that sort of view that things are going to get better from here. And I see analysts at City Citi say, less dire than feared tariff impact outlook. So less dire, that's good enough, too. Yeah, and the shares up about 20% this year. Uh, Corweve getting a boost today after regulatory filings showed an additional agreement with Open AI in which the chat GPT maker has committed to pay Corweve up to $4 billion through April 2029. It also comes after the company issued its first earnings report since going public via an IPO in March. Now the shares initially fell, then this filing came out. They went up. It looks like they're back down again. I don't know if we got that intraday chart to show that sort of back and forth that we've been seeing in the shares today. There it is. So you saw the shares initially down, then up, then down again. I mean, there was this optimism around this deal. There was already an existing agreement here. Corweve had, um, already signed with Open AI a five-year contract worth about $12 billion. So this is then an additional $4 billion on top of that. But the company's operating income forecast was below estimates. Uh, so that Corweve disclosed a deal in the earnings call yesterday, but then didn't name the party. So now now we know. Uh, by the way, Brentilla Jeffries telling his clients, we know Brent, friend of the show, longtime smart analyst. He says, we see no sign of AI compute tail winds easing up soon and see Corweve as a multi-year winner. He took his target to, it looks like 80. Well, But then on the flip side of that, we got DA Davidson cutting it to underperform from neutral. Its price target Is that I'm not sure if it's gonna As I'm reading this, I'm not I'm not sure if it's Gil, but the price target there is 36. We are fans. So who do choose your fighter? Um, Whoever I I'm gonna check it, but whoever said it says they conf it confirms our concern that Corweve is not a business worth scaling. So All right. It does. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-04-2025
- Yahoo
Police: Lake City man facing resisting charge after interfering with media covering officer shot
While Lake City police worked to find out who shot one of their officers Sunday at an Easter event, a man was arrested near the location for an unrelated crime. Adam Dicks, 44, is charged with resisting arrest after police said he was interfering with media covering the shooting, a Lake City police news release states. >>> STREAM ACTION NEWS JAX LIVE <<< 'Several news crews were stationed in the area, lawfully filming from outside the perimeter of the active crime scene,' the news release states. 'While members of a camera crew were in the process of packing their equipment, a male subject crossed the street and aggressively approached the media personnel, yelling profanities and demanding the tapes and recordings.' An officer who observed Dicks interfering with media members approached the suspect commanding him to leave the scene, the news release states. Dicks refused, continued being aggressive, and was arrested. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] As the officer attempted to detain Dicks, he pulled away and was put in custody after a brief struggle, the news release states. Read: Two-year-old boy dies after accidentally shooting himself in Jacksonville Read: Man hospitalized after being shot by Jacksonville police in East Arlington Read: Motorcyclist dies in crash on I-295 in Jacksonville [SIGN UP: Action News Jax Daily Headlines Newsletter] Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
Yahoo
09-04-2025
- Yahoo
Nearly $3,000 in merchandise taken during snatch and grab at Greensburg Dick's Sporting Goods
State police say three people stole close to $3,000 dollars worth of merchandise from a Dick's Sporting Goods in Greensburg. Troopers have arrested a man who reportedly admitted to driving the trio to the store. Surveillance video shows the three people running out of the store with their arms full of stolen goods. Troopers say this all happened on Sunday right before noon. Authorities say the thieves were last seen in a black Ford, which they put out a be on the lookout alert for. Police were able to track down the car in the city of Pittsburgh on Monday morning. Police say when Hussein Hassan, 18, got into the car on Suncrest Street in Knoxville, officers pulled the man over and searched his car. State police say Hassan admitted to taking the three men to the Dicks parking lot of the Westmorland Mall. Hassan allowed police to also search his home, where they found several stolen clothing items with tags still on them. 'I think they should arrest them, put 'em in jail and let 'em rot,' Don Svetkovich of Greensburg said. Police arrested Hassan and charged him with retail theft. Hassan told police that after leaving the Dick's he drove the three men back to Pittsburgh and dropped them off at a park. There's no word on their whereabouts right now. Download the FREE WPXI News app for breaking news alerts. Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
Yahoo
09-04-2025
- Yahoo
Driver arrested for DUI near Gate 5 at Washington, Old Berckmans Road
AUGUSTA, Ga. (WJBF) – A woman was arrested for Driving Under the Influence near Gate 5 at Washington Road and Old Berckmans Road on Tuesday, according to the Richmond County Sheriff's Office. Julie T. Dicks, 35, is accused of 'traveling in the center turn lane on Washington Road, appearing to use it to bypass traffic.' A RCSO deputy saw this and proceeded to conduct a traffic stop., A statement from RCSO on April 8 alleges Dicks 'immediately turned into Gate 5 off Washington Road near Old Berckmans Road.' She reportedly encountered a dead end and was taken to Charles B. Webster Detention Center without incident. According to the RCSO, Dicks was previously arrested for DUI on Feb. 17, 2025. 'At no point during this event were patrons or members of the public placed at risk,' RCSO said. 'The Richmond County Sheriff's Office works in close partnership with Augusta National Security to ensure the safety of all patrons during the Masters Tournament.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
