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NKE

Nike

$82.09

-0.16 (-0.19%)

13:25
03/25/19
03/25
13:25
03/25/19
13:25

California arrests Michael Avenatti on wire and bank fraud charges

Attorney Michael Avenatti was arrested today pursuant to a criminal complaint alleging he embezzled a client's money in order to pay his own expenses and debts, as well as those of his coffee business and law firm, and also defrauded a bank by using phony tax returns to obtain millions of dollars in loans, the U.S. Attorney's Office for the Central District of California announced in a statement. Avenatti was arrested pursuant to a two-count felony complaint charging him with wire fraud and bank fraud. He also was arrested pursuant to a separate federal case filed in New York. According to an affidavit filed with the criminal complaint in California, Avenatti negotiated a settlement which called for $1.6M in settlement money to be paid on January 10, 2018, but then gave the client a bogus settlement agreement with a false payment date of March 10, 2018. The affidavit states that Avenatti misappropriated his client's settlement money and used it to pay expenses for his coffee business, Global Baristas US LLC, which operated Tully's Coffee stores in California and Washington state, as well as for his own expenses. "When the fake March 2018 deadline passed and the client asked where the money was, Avenatti continued to conceal that the payment had already been received," court documents said. A midday tweet by Avenatti caused shares of Nike to move lower. The celebrity lawyer threatened to release damaging information about Nike by tweeting, "Tmrw at 11 am ET, we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by @Nike that we have uncovered. This criminal conduct reaches the highest levels of Nike and involves some of the biggest names in college basketball." According to the criminal complaint filed by federal authorities in New York, Avenatti threatened to extort more than $20M from Nike. The stock in afternoon trading is down 31c to $81.85. Reference Link

  • 04

    Apr

  • 04

    Apr

NKE Nike
$82.09

-0.16 (-0.19%)

03/22/19
LEHM
03/22/19
NO CHANGE
Target $100
LEHM
Overweight
Nike growth story story 'remains highly intact,' says Barclays
Barclays analyst Matthew McClintock says Nike's long-term growth story "remains highly intact" following last night's fiscal Q3 results. While currency headwinds continue to depress reported results, the core underlying growth rate continues to remain "highly impressive," McClintock tells investors in a post-earnings research note. The analyst is optimistic that Nike's gross margin story is beginning to improve and he keeps an Overweight rating on the shares with a $100 price target.
03/22/19
FBCO
03/22/19
NO CHANGE
FBCO
Outperform
Nike's delivered 'high quality' beat in Q3, says Credit Suisse
Creidt Suisse analyst Michael Binetti backed an Outperform rating on Nike after the company delivered a "high quality" beat for the third quarter. In a research note to investors, Binetti says that while there were "more puts and takes than expected," North America direct to consumer and wholesale both grew mid single digits in Q3, and believes DTC should accelerate in fiscal 2020. Binetti lowered his Q4 EPS view to 62c from 86c on incremental FX pressure and SG&A leverage.
03/22/19
MSCO
03/22/19
NO CHANGE
Target $103
MSCO
Overweight
Nike after-hours pullback a buying opportunity, says Morgan Stanley
Morgan Stanley analyst Lauren Cassel said Nike delivered a strong quarter and she attributes the after-hours pullback in the stock to high buy-side expectations. Cassel, who thinks the company's initial FY20 guidance should be viewed as conservative, sees the after-hours pullback as a buying opportunity. She believes Nike's direct-to-consumer transformation remains in its early innings and views it as one of the few consumer discretionary companies benefiting from the shift to e-commerce. Cassel keeps an Overweight rating and $103 price target on Nike, calling the stock her top pick.
03/22/19
JEFF
03/22/19
NO CHANGE
JEFF
Jefferies continues to prefer Under Armour shares over Nike
Jefferies analyst Randal Konik says Nike (NKE) last night reported a "steady as she goes" quarter with continued market share gains. The analyst, however, keeps a Hold rating on the stock with an $80 price target primarily due to valuation. He prefers shares of Under Armour (UAA, UA) given the "misplaced overly negative sentiment." Konik also views Foot Locker (FL) shares as the best way to play a strengthening Nike business as Nike accounts for 70% of the company's product.

TODAY'S FREE FLY STORIES

GIS

General Mills

$51.57

-1.67 (-3.14%)

, K

Kellogg

$66.17

-0.48 (-0.72%)

17:05
12/11/19
12/11
17:05
12/11/19
17:05
Initiation
General Mills, Kellogg initiated  »

General Mills initiated…

GIS

General Mills

$51.57

-1.67 (-3.14%)

K

Kellogg

$66.17

-0.48 (-0.72%)

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  • 18

    Dec

CEI

Camber Energy

$2.05

0.86 (72.27%)

17:05
12/11/19
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17:05
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17:05
Hot Stocks
Camber Energy responds to unusual market activity »

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MGEN

Miragen Therapeutics

$0.69

0.0554 (8.73%)

17:04
12/11/19
12/11
17:04
12/11/19
17:04
Conference/Events
Miragen Therapeutics to host conference call »

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AGI

Alamos Gold

$5.57

0.205 (3.82%)

17:03
12/11/19
12/11
17:03
12/11/19
17:03
Hot Stocks
Alamos Gold sees FY20 production 425K-465K ounces of gold »

Alamos Gold provided 2020…

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MMNFF

MedMen

$0.00

(0.00%)

17:02
12/11/19
12/11
17:02
12/11/19
17:02
Earnings
MedMen sees positive adjusted EBITDA in Q121, and positive FCF in Q321 »

The company anticipates…

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  • 12

    Dec

CPB

Campbell Soup

$48.00

-0.37 (-0.76%)

17:02
12/11/19
12/11
17:02
12/11/19
17:02
Initiation
Campbell Soup initiated  »

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MMNFF

MedMen

$0.00

(0.00%)

17:00
12/11/19
12/11
17:00
12/11/19
17:00
Earnings
MedMen sees FY20 revenue $225M - $245M, consensus $212.69M »

Sees FY21 revenue $450 -…

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  • 12

    Dec

XOM

Exxon Mobil

$68.95

-0.11 (-0.16%)

16:59
12/11/19
12/11
16:59
12/11/19
16:59
Hot Stocks
Exxon Mobil's Milton sells 13,569 common shares »

In a regulatory filing,…

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  • 12

    Dec

SJM

J.M. Smucker

$104.42

-1.64 (-1.55%)

16:57
12/11/19
12/11
16:57
12/11/19
16:57
Initiation
J.M. Smucker initiated  »

J.M. Smucker resumed with…

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  • 26

    Feb

16:55
12/11/19
12/11
16:55
12/11/19
16:55
Conference/Events
Oppenheimer healthcare analysts to hold a KOL dinner meeting »

Analysts hold a Cardiac…

MMNFF

MedMen

$0.00

(0.00%)

16:54
12/11/19
12/11
16:54
12/11/19
16:54
Hot Stocks
MedMen granted delivery-only license by the city of Mountain View, California »

On November 21, the…

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  • 12

    Dec

CAG

Conagra Brands

$28.64

-0.58 (-1.98%)

16:53
12/11/19
12/11
16:53
12/11/19
16:53
Initiation
Conagra Brands initiated  »

Conagra Brands resumed…

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  • 19

    Dec

EQH

AXA Equitable

$24.27

-0.18 (-0.74%)

16:53
12/11/19
12/11
16:53
12/11/19
16:53
Hot Stocks
AXA Equitable sells two run-off and closed-block companies »

AXA Equitable has entered…

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  • 11

    Dec

MMNFF

MedMen

$0.00

(0.00%)

16:50
12/11/19
12/11
16:50
12/11/19
16:50
Hot Stocks
MedMen announces financial updates to strengthen balance sheet »

MedMen Enterprises…

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  • 12

    Dec

MDLZ

Mondelez

$53.94

-0.13 (-0.24%)

16:48
12/11/19
12/11
16:48
12/11/19
16:48
Initiation
Mondelez initiated  »

Mondelez resumed with a…

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ECA

Encana

$4.04

0.01 (0.25%)

16:42
12/11/19
12/11
16:42
12/11/19
16:42
Hot Stocks
Encana to establish corporate domicile in U.S. »

Encana filed its…

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GE

General Electric

$10.98

-0.02 (-0.18%)

16:41
12/11/19
12/11
16:41
12/11/19
16:41
Upgrade
Analyst change prompts UBS to upgrade GE to Buy from Neutral »

UBS analyst Markus…

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  • 11

    Dec

  • 29

    Jan

HSY

Hershey

$149.81

0.415 (0.28%)

16:40
12/11/19
12/11
16:40
12/11/19
16:40
Initiation
Hershey initiated  »

Hershey resumed with a…

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NDSN

Nordson

$167.47

1.72 (1.04%)

16:39
12/11/19
12/11
16:39
12/11/19
16:39
Earnings
Nordson sees FY20 GAAP EPS growth 2%--6% versus FY19 »

"We are taking a…

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  • 12

    Dec

WHLR

Wheeler REIT

$1.79

-0.09 (-4.79%)

16:38
12/11/19
12/11
16:38
12/11/19
16:38
Hot Stocks
Wheeler REIT nominees recommended by Glass Lewis »

Wheeler REIT announced…

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  • 19

    Dec

HD

Home Depot

$211.96

-3.88 (-1.80%)

, BA

Boeing

$350.00

2.14 (0.62%)

16:38
12/11/19
12/11
16:38
12/11/19
16:38
On The Fly
Fly Intel: Wall Street's top stories for Wednesday »

The Federal Reserve did…

HD

Home Depot

$211.96

-3.88 (-1.80%)

BA

Boeing

$350.00

2.14 (0.62%)

CVX

Chevron

$116.22

-1.68 (-1.42%)

GME

GameStop

$5.53

-0.97 (-14.92%)

NSRGY

Nestle

$0.00

(0.00%)

MD

Mednax

$26.75

1.975 (7.97%)

OLLI

Ollie's Bargain Outlet

$69.39

9.11 (15.11%)

LOGM

LogMeln

$79.82

5.86 (7.92%)

PLAY

Dave & Buster's

$38.59

-1.48 (-3.69%)

UNFI

United Natural Foods

$7.07

-2.81 (-28.44%)

PLCE

Children's Place

$54.35

-16.32 (-23.09%)

03/08/13
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  • 11

    Dec

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    Dec

  • 11

    Dec

  • 13

    Dec

  • 18

    Dec

  • 25

    Feb

NDSN

Nordson

$167.47

1.72 (1.04%)

16:35
12/11/19
12/11
16:35
12/11/19
16:35
Hot Stocks
Nordson says backlog for the quarter was approximately $385M, down 1% YoY »

Backlog for the quarter…

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  • 12

    Dec

GAIN

Gladstone Investment

$14.65

-0.02 (-0.14%)

, CPTA

Capitala Finance

$8.74

0.16 (1.86%)

16:35
12/11/19
12/11
16:35
12/11/19
16:35
Hot Stocks
Gladstone Investment exits investment in Nth Degree »

Gladstone Investment…

GAIN

Gladstone Investment

$14.65

-0.02 (-0.14%)

CPTA

Capitala Finance

$8.74

0.16 (1.86%)

03/08/13
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FORM

FormFactor

$23.77

0.57 (2.46%)

16:35
12/11/19
12/11
16:35
12/11/19
16:35
Hot Stocks
Breaking Hot Stocks news story on FormFactor »

FormFactor trading…

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  • 18

    Dec

TWNK

Hostess Brands

$14.14

0.21 (1.51%)

16:34
12/11/19
12/11
16:34
12/11/19
16:34
Initiation
Hostess Brands initiated  »

Hostess Brands resumed…

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