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NKE

Nike

$53.28

0.05 (0.09%)

10:20
09/26/17
09/26
10:20
09/26/17
10:20

Nike option volume heavy pre-earnings with shares flat near $53.16

Nike option volume heavy pre-earnings with shares flat near $53.16. 14K contracts in the first half hour is 4x normal, with calls leading puts 8:5. Bulk of the flow is October 20th expiry, where a customer sold the Oct 52.5/55 call spread for approximately $1.08 on a slight ratio. Straddle implied a move near 6%, well above the median 3.8% reaction. Last qtr saw shares jump 11% post results.

  • 26

    Sep

  • 03

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  • 04

    Oct

NKE Nike
$53.28

0.05 (0.09%)

09/26/17
BERN
09/26/17
NO CHANGE
BERN
Survey respondents more likely to buy Nike for fashion/function, says Bernstein
Bernstein analyst Jamie Merriman says he and his firm surveyed 1000 people in the U.S. in July, asking them about 22 athletic apparel and footwear brands. At the athletic apparel and footwear category level, 58% of survey respondents expect to spend about the same amount on the category as they have spent over the last 12 months, while 28% expect to spend more and 14% expect to spend less, he notes. Among those who had shopped the brands in the LTM, the analyst says theintention to purchase more in the NTM was similar across Nike (NKE), adidas (ADDYY) and Under Armour (UAA), while Lululemon (LULU) customers reported the highest intention to purchase more going forward. Additionally, Merriman said respondents were most likely to purchase Nike, relative to other brands, for a combination of fashion and function.
09/22/17
PIPR
09/22/17
NO CHANGE
Target $53
PIPR
Neutral
Nike bulls in denial about resurgence of adidas, Piper Jaffray says
Piper Jaffray analyst Erinn Murphy says her intra-quarter reads point to ongoing deceleration in Nike (NKE) momentum, increasing concern around the Jordan brand, which represents 10% of sales, and intensifying promotional pressure on the category domestically. Bulls on Nike are still denying the durability of adidas' (ADDYY) resurgence, Murphy tells investors in a pre-earnings research note. The analyst believes adidas' market share gains have "longer growth sustainability." For Nike's Q1 results on September 26, Murphy sees revenue as inline "at best" and gross margin worse than expected. The analyst, however, sees cost controls driving an earnings beat. Murphy also sees risk to Nike's outlook for Q2. She keeps a Neutral rating on the shares with a $53 price target.
09/19/17
09/19/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Under Armour (UA, UAA) downgraded to Underperform from Market Perform at Wells Fargo with Wells Fargo with analyst Tom Nikic saying with consumers having filled their closets with athletic wear over the past seven years, the category "appears poised to take a breather for now." The analyst cut his price target for the shares to $13 from $17. 2. Kellogg (K) downgraded to Neutral from Overweight at Piper Jaffray with analyst Michael Lavery saying cereal could be at risk from shrinking center store space. 3. Nike (NKE) downgraded to Neutral from Positive at Susquehanna saying that his checks indicate that the North American and European businesses are decelerating as some key categories, especially basketball, have underperformed, resulting in excess inventory that will pressure sales and margins. 4. Synchronoss (SNCR) downgraded to Underperform from Outperform at Raymond James with analyst Tavis McCourt citing the news that Siris Capital is no longer interested in an all-cash transaction for all the outstanding shares of the company and has withdrawn its $18 per share bid from June 22. Further, the analyst believes it increasingly unlikely that the current strategic review will result in an acquisition at a premium and expects share to come under pressure and stay in the range prior to the Siris indication of interest. 5. Sony (SNE) downgraded to Neutral from Outperform at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/19/17
BOFA
09/19/17
NO CHANGE
Target $42
BOFA
Underperform
Nike risk/reward remains unfavorable, says BofA/Merrill
BofA/Merrill analyst Robert Ohmes believes Nike to report Q1 earnings next Tuesday above consensus of 48c given conservative guidance but expects a muted outlook due to weakening data points. Ohmes said retail partner same-store sales have deteriorated from last quarter, SportScan data continues to deteriorate, the promotional environment remains elevated, the company continues to lose share to adidas, the e-commerce channel has become a "dumping ground" for clearance and discounting, and VaporMax sales are not yet meaningful. The analyst maintains his Underperform rating and $42 price target on Nike and said risk/reward remains unfavorable.

TODAY'S FREE FLY STORIES

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OSI Systems

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TSN

Tyson Foods

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CBRL

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QCOM

Qualcomm

$63.99

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NEM

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, HRL

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QCOM

Qualcomm

$63.99

-0.86 (-1.33%)

, AVGO

Broadcom

$249.62

0.73 (0.29%)

13:51
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Hot Stocks
Breaking Hot Stocks news story on Qualcomm, Broadcom »

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QCOM

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$63.99

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AVGO

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QCOM

Qualcomm

$63.99

-0.86 (-1.33%)

, AVGO

Broadcom

$249.62

0.73 (0.29%)

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Hot Stocks
Breaking Hot Stocks news story on Qualcomm, Broadcom »

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QCOM

Qualcomm

$63.99

-0.86 (-1.33%)

AVGO

Broadcom

$249.62

0.73 (0.29%)

03/08/13
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ETP

Energy Transfer Partners

$18.23

-0.05 (-0.27%)

, CLR

Continental Resources

$53.60

-1.13 (-2.06%)

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ETP

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$18.23

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CLR

Continental Resources

$53.60

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ETE

Energy Transfer Equity

$16.25

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SNPS

Synopsys

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WPX

WPX Energy

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RCII

Rent-A-Center

$8.93

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AAPL

Apple

$171.85

-0.58 (-0.34%)

13:49
02/21/18
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13:49
Periodicals
Apple receives EEC approval for two mysterious iPads, Verge reports »

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  • 23

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SPB

Spectrum Brands

$101.13

-0.77 (-0.76%)

13:45
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Options
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IART

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NCI

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NCI

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TWTR

Twitter

$33.74

0.9 (2.74%)

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MO

Altria Group

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  • 21

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SO

Southern Company

$43.25

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  • 21

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QCOM

Qualcomm

$63.99

-0.86 (-1.33%)

, AVGO

Broadcom

$249.62

0.73 (0.29%)

13:35
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Recommendations
Qualcomm, Broadcom analyst commentary  »

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QCOM

Qualcomm

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-0.86 (-1.33%)

AVGO

Broadcom

$249.62

0.73 (0.29%)

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MO

Altria Group

$64.11

-0.08 (-0.12%)

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BA

Boeing

$358.54

5.19 (1.47%)

13:25
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UNIT

Uniti Group

$15.44

-0.69 (-4.28%)

13:25
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Options
Uniti Group call volume above normal and directionally bullish »

Bullish option flow…

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  • 01

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TROW

T. Rowe Price

$109.91

-0.58 (-0.52%)

13:25
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