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Fly News Breaks for August 26, 2016
ESI, SFUN, VIAB, VIA, SIG, NKE
Aug 26, 2016 | 10:52 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. B. Riley downgraded Nike (NKE) to Neutral and maintained its $62 price target, with analyst Mitch Kummetz saying Nike basketball has improved sequentially, but is more than offset by running weakness. He expects futures to be flat to down sequentially when Nike reports next month. 2. Telsey Advisory downgraded Viacom (VIAB) to Market Perform from Outperform, as analyst Tom Egan believes a Viacom credit downgrade is a real threat following Moody's lowered its rating outlook to negative from stable last month. Egan said Viacom's fundamentals continue to trail every other major U.S. entertainment company and said a turn-around in FY17 is unlikely. 3. CLSA analyst Man Ho Lam downgraded SouFun (SFUN) to Sell, as he believes secondary brokerage momentum has stalled with GMV and volume down sequentially, and could continue into 2H 2016. 4. Citi analyst Paul Lejuez downgraded Signet Jewelers (SIG) to Neutral from Buy, citing its weakening fundamentals. Zale's weakness in the past two quarters makes him question if that business is likely to close the sales productivity and profit gap versus Kay, as he'd previously assumed was possible, said Lejuez, who cut his price target on Signet shares to $83 from $125. 5. Piper Jaffray analyst Peter Appert downgraded ITT Educational (ESI) to Underweight, stating that the Department of Education's new ban on ITT Education enrolling new students will likely be the "final blow." He assumes the company will face bankruptcy and/or shutdown over next 12 months and cut his price target on ITT shares to $0 from $3. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For NKE;SIG;VIA;VIAB;SFUN;ESI From the Last 2 Days
NKE
Mar 28, 2024 | 15:22 EDT
What has Wall Street been buzzing about this week? Here are the top 5 Bu-y calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of March 25-28. Find all top-rated... To see the rest of the story go to thefly.com. See Story Here
NKE
Mar 28, 2024 | 07:29 EDT
SharkNinja (SN) announced that Patraic Reagan has been named Chief Financial Officer, effective April 22...Reagan will oversee SharkNinja's financial strategies and lead the company's global finance organization, including financial planning and analysis, accounting, treasury, tax, internal audit, and investor relations. Larry Flynn, who served as Interim Chief Financial Officer since June 2023, will continue in his role as Chief Accounting Officer. Reagan joins SharkNinja with over two decades of relevant experience. Most recently, Mr. Reagan served as the Chief Financial Officer of Nike's (NKE) Asia, Pacific, and Latin America segment, where he helped drive consecutive years of strong revenue growth, and EBIT expansion that outpaced revenue while accelerating investment in key areas. Over his 13-year career with Nike, Mr. Reagan also served as the Global VP of Business Planning and was the CFO of Nike's Direct-to-Consumer business in EMEA. Prior to Nike, Mr. Reagan held financial positions of increasing responsibility at roles with with Coach (now Tapestry TPR), Polo Ralph Lauren Corporation, Kraft Foods and Chiquita Brands International. .
NKE
Mar 27, 2024 | 13:03 EDT
Morgan Stanley lowered the firm's price target on Nike to $116 from $124 and keeps an Overweight rating on the shares. Following Nike's Q3 earnings report, the firm reduced its Q4 topline and profitability forecasts based on weaker Q4 sales gross margin guidance than previously assumed. The firm now projects 80c EPS, versus the implied guidance of about 77c-78c and the firm's prior 91c forecast.