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Nike's Fiscal Q1 Earnings Expected to Miss Analyst Expectations, UBS Says

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Nike's (NKE) global sales trends have "deteriorated" in the past three months, and fiscal Q1 earnings are expected to miss estimates, UBS Securities said Thursday in a report.

UBS lowered its Q1 earnings estimate to $0.39 a share from $0.48 with an implied outlook for Q2 trailing market consensus. Analysts polled by FactSet expect $0.44 in Q1.

Nike's stock price may fall if its outlook implies full-year EPS below $1.55 a share, the report said. UBS estimates $1.30.

Nike's direct-to-consumer sales growth rate likely declined in the mid-single-digit percentage range in fiscal Q1, and sales trends in China "continue to be pressured," UBS said.

Q1 results are expected Oct. 1.

UBS lowered its price target on Nike stock to $42 from $48 and maintained its neutral rating.

Price: $35.89, Change: $+0.10, Percent Change: +0.29%

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Halozyme Therapeutics Plans $1.05 Billion Offering of Convertible Notes

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$HALO
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Medical Properties Trust Completes Sale of 2 Idaho Hospitals

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$MPT
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BCB Bancorp Launches Stock Offering; Identifies Portfolio of Problem Loans; Expects Q3 Net Loss

BCB Bancorp (BCBP) said Wednesday it has launched an underwritten public offering of shares. Net proceeds will be used for general corporate purposes and to support capital, including in connection with the planned disposition of potential problem loans, among other purposes, it said.The company said that the management of its unit BCB Community Bank has identified for sale and started marketing of a portfolio of problem loans.The bank has received indications of interest from potential buyers covering all of the about $210 million principal balance of the problem loans for sale, it said, adding it expects to complete the sales during Q3.In addition, the bank said that during Q3, it plans to transfer about $27 million of commercial real estate loans showing credit weakness to held for sale. The bank also said it started marketing for the potential sale of its business lines focused on cannabis-related clients.The company said it now expects a Q3 provision for credit losses of $112 million to $120 million, and to post a Q3 net loss between $126.2 million and $136.1 million.BCB Bancorp shares were down nearly 8% in after-hours activity.

$BCBP