FINWIRES · TerminalLIVE
FINWIRES

$DKS

41 stories mentioning DKSUpdated 4d ago

Every FINWIRES story that references DKS, newest first.

What are analysts saying about DKS?

Recent broker actions mentioned in FINWIRES coverage. Compiled from wire headlines; not investment advice.

What's the latest news on DKS?

Academy Sports Lifts Earnings Outlook Despite Pressure on Consumer Spending
US Markets

Academy Sports Lifts Earnings Outlook Despite Pressure on Consumer Spending

Academy Sports and Outdoors (ASO) raised its full-year earnings outlook on Wednesday even as the sporting goods retailer faced persistent pressure on consumer spending.The company now expects adjusted earnings between $6.50 and $6.90 per share for fiscal 2026, up from its previous guidance of $6.40 to $6.80. The consensus on FactSet is for non-GAAP EPS of $6.43.Academy Sports' shares popped 7.2% in Wednesday trade, reducing their year-to-date loss to 4.1%.The company continues to project sales of $6.23 billion to $6.36 billion and comparable sales to be flat to up 2% for the ongoing fiscal year. The Street is looking for sales of $6.31 billion and same-store sales growth of 0.8%.In a statement, Chief Executive Steve Lawrence acknowledged that consumer spending remained pressured, particularly among lower-income households.Truist Securities said Academy Sports faced a "tough" setup heading into second-quarter results due to its exposure to low and middle income consumers, according to a note emailed earlier in the week.In August, Academy Sports and Outdoors rival Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace. Last week, Lululemon Athletica (LULU) cut its fiscal 2026 guidance amid continued pressure on the brand.Academy Sports' adjusted EPS climbed 19% year over year to $2.31 for the three-month period ended Aug. 1, including a $0.06 net impact from tariff refunds. The average analyst estimate was for $2.07. Sales increased to $1.65 billion from nearly $1.6 billion, in line with the Street's view.Comparable sales edged down 0.4%, compared with an increase of 0.2% the year before. The market forecast had indicated a decrease of 0.2% in the 2026 second quarter.The company reported an $83.7 million benefit related to tariff refunds in the second quarter, of which $10.9 million were invested in pricing, according to an earnings presentation. Earlier this year, the US Supreme Court ruled that the Trump administration lacked authority under the International Emergency Economic Powers Act to impose certain tariffs, paving the way for refunds to companies that had paid the duties."We are reinvesting tariff-related benefits into value, expanding compelling new brands and categories, and accelerating initiatives across stores, omni-channel and loyalty," Lawrence said in the statement. "These actions are helping us gain market share, strengthen customer engagement and reinforce our confidence in achieving our fiscal 2026 sales and earnings objectives."Price: $47.92, Change: $+3.21, Percent Change: +7.17%

$ASO$DKS$LULU
Research

BMO Capital Initiates Coverage on Dick's Sporting Goods With Underperform Rating

Dick's Sporting Goods (DKS) has an average rating of overweight and mean price target of $186.41, according to analysts polled by FactSet.

$DKS
Wire

Dick's Sporting Goods' Q2 Earnings Reset Tied to Excess Inventory, Increased Promotions and Projected Foot Locker Loss, UBS Says

Dick's Sporting Goods' (DKS) Q2 earnings reset was mainly tied to excess legacy footwear inventory, increased promotional activity and a projected loss at Foot Locker, UBS Securities said Wednesday in a note.UBS said Dick's shares can rise over the next 12 months as investors become more confident that current margin pressure reflects a temporary inventory and product-cycle adjustment rather than a permanent decline in earnings power.UBS lowered its 2026 EPS estimate to $11.50 from $13.96, its 2027 estimate to $12.95 from $16.75 and its 2028 estimate to $14.25 from $19.17, reflecting lower Foot Locker sales, increased promotional pressure, and a slower operating-margin recovery, the note added.Foot Locker operates about 1,600 North American stores, generating annual sales of about $3 million per location. For every 100 stores closed, recapturing 30% of the associated sales could shift $90 million to $100 million to Dick's stores, add 60 to 80 basis points to core growth and contribute about $0.30 to EPS at a 40% or higher incremental margin, UBS said.UBS kept a buy rating on Dick's Sporting Goods and lowered its price target to $178 from $275.Price: $131.12, Change: $+1.46, Percent Change: +1.13%

$DKS
Wire

Dick's Sporting Goods Faces Challenging Athletic Market, UBS Says

Dick's Sporting Goods (DKS) Q2 results and lower 2026 guidance point to challenging conditions in the athletic footwear and apparel market, UBS said in a note emailed Wednesday.The brokerage said the company's core business continued to gain market share, but both the segments had to sacrifice some margin to drive the business. Core Dick's business posted a 4.9% comparable sales gain, while Foot Locker's comparable sales fell 3.6%.The company lowered its non-GAAP EPS guidance to $11 to $12, from $13.50 to $14.50 previously.UBS said the key question is about the impact on the combined business' earnings power, if weakness in athletic footwear and apparel persists. It also expects to assess whether recent Foot Locker performance prompts changes to the segment's strategy.UBS maintained a buy rating on the stock with $275 price target.Price: $129.29, Change: $+4.98, Percent Change: +4.01%

$DKS
Wire

Dick's Sporting Goods Shares 'Too Cheap to Dismiss,' Oppenheimer Says

Dick's Sporting Goods (DKS) shares are "too cheap to dismiss" after a steep drop following disappointing fiscal Q2 results and a cut to full-year guidance, Oppenheimer said Wednesday in a report.The shares tumbled 31% on Tuesday after the sports retailer lowered its outlook, though recent shortfalls "reflect primarily external factors, which should prove transitory," the report said."While disappointed with signals of weaker-than-planned sales and profit recovery at Foot Locker," Oppenheimer expressed confidence in Dick's management "to drive significant margin and productivity gains, on the heels of meaningful merchandise resets, over time."For fiscal 2026, Oppenheimer expects adjusted EPS of $11.12, down from its prior forecast of $14.30, versus guidance of $11 to $12 and Wall Street's $12.76 estimate. For fiscal 2027, Oppenheimer cut its EPS estimate to $13.01 from $16.30, versus the consensus estimate of $14.29.Oppenheimer slashed its price target on Dick's stock to $150 from $270 and maintained its outperform rating.Price: $128.92, Change: $+4.61, Percent Change: +3.71%

$DKS
Wire

BNP Paribas Adjusts Price Target on Dick's Sporting Goods to $99 From $169, Maintains Underperform Rating

Dick's Sporting Goods (DKS) has an average rating of overweight and mean price target of $186.41, according to analysts polled by FactSet.Price: $128.81, Change: $+4.50, Percent Change: +3.62%

$DKS
Research

Telsey Advisory Downgrades Dick's Sporting Goods to Market Perform From Outperform, Adjusts Price Target to $145 From $255

Dick's Sporting Goods (DKS) has an average rating of overweight and mean price target of $174.16, according to analysts polled by FactSet.

$DKS
Research

Truist Downgrades Dick's Sporting Goods to Hold From Buy, Adjusts Price Target to $135 From $270

Dick's Sporting Goods (DKS) has an average rating of overweight and mean price target of $174.16, according to analysts polled by FactSet.

$DKS
Asia Markets

Update: US Equity Indexes Rise With Tech While Treasury Yields, Crude Oil Slide as Process to Tighten Noose Around Iran Begins

(Updates with index/price moves, macroeconomic data, analyst comments and company/geopolitical news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after the Treasury Department began a campaign to tighten sanctions on Iran.The Nasdaq Composite advanced 0.5% to 26,151.30, the S&P 500 climbed 0.3% to 7,677.28, and the Dow Jones Industrial Average edged up 0.3% to 53,577.40 on Tuesday. Communication services was one of the biggest gainers, while energy and consumer staples led decliners at the close. Nvidia's (NVDA) quarterly earnings are due after the bell on Wednesday.The Treasury Department is targeting aviation, shipping, technology, gold and digital assets such as cryptocurrency to choke off Iran's economy, CNN reported. The US is also threatening to impose damaging new sanctions on countries that refuse to cut economic ties with Tehran.Iran pledged to fight back against expanded US sanctions, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.China is the number one buyer of Iranian oil and has insisted it will keep buying about 1.4 million barrels per day, or more than 80% of Iran's crude it currently imports despite US sanctions, according to a Stifel note.The front-month US West Texas Intermediate crude oil contract sank 5.5% to $80.34 per barrel, and global benchmark North Sea Brent plunged 6.5% to $86.18 per barrel.US Treasury yields fell on Tuesday. The 30-year slumped 7.4 basis points to 5.16%, the 10-year dropped 8.1 basis points to 4.62%, and the two-year retreated six basis points to 4.19%.Treasury Secretary Scott Bessent's surprise plan to tamp down US borrowing costs by expanding bond buybacks is having an impact as Treasuries have outperformed equivalent-maturity swaps, narrowing the 30-year spread between the two to the smallest since February, Bloomberg reported.The US administration may be trying to create space for more corporate bond issuance in H2, with the specific goal of helping accelerate the AI infrastructure build-out, bringing the benefits of that build-out sooner and at a lower financial cost than otherwise would have been possible, a Macquarie note said.Meanwhile, the Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg. New home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg. Home sales were down 6.3% from a year ago.July's personal consumption expenditures, or PCE, a key data point in monetary policy formulation, is due Wednesday.Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace while fiscal Q2 results missed market estimates. Shares sank 31%. Among the steepest decliners on the Dow and the S&P 500 were sports goods retailers Nike (NKE) and Lululemon Athletics (LULU).

Dow JonesNasdaq CompositeS&P 500$DKS$LULU$NKE$NVDA
Update: Equities Rise Despite US-Canada Trade Tensions
US Markets

Update: Equities Rise Despite US-Canada Trade Tensions

(Updates with market moves at the end of the day, and other changes, if any.)Stocks rose Tuesday as Wall Street appeared to dismiss rising trade tensions between the US and Canada.The technology-heavy Nasdaq Composite added 0.7% to close at 26,151.30, while the S&P 500 climbed 0.3% to 7,677.28. The Dow Jones Industrial Average advanced 0.3% to settle at 53,577.40, extending its winning streak to a third day.Most sectors were in the green, led by tech, while energy saw the steepest decline.Canada on Tuesday announced retaliatory tariffs on roughly US$20 billion worth of the American goods, matching Washington's move "dollar for dollar."Trade talks between the US and Canada collapsed late last week.West Texas Intermediate crude oil fell 4.6% to $81.10 a barrel in Tuesday late-afternoon trade, while Brent slumped 5.3% to $87.31.On Monday, the US Treasury Department launched an economic campaign to cut off financial channels that support Iran. Tehran expressed confidence that its major trading partners that include China, Russia and India will resist Washington's pressure campaign, according to CNBC.China said its cooperation with Tehran should not be disrupted, CNN reported Tuesday."The market seems largely unfazed by Washington's push for tighter economic pressure on Iran, with traders treating the US effort to nudge partners away from Iranian trade as marginal rather than market-moving," ING Bank said in a report.US Treasury yields were lower, with the 10-year yield down 7.9 basis points at 4.63% and the two-year yield falling six basis points to 4.18%.In economic news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said.New home sales in the US decreased more than projected last month even as median prices moved lower, government data showed.Switching to monetary policy, the Federal Reserve may have to raise interest rates soon, unless inflation continues to cool, Boston Fed President Susan Collins said.Markets are currently pricing in a 66% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.In company news, Dick's Sporting Goods (DKS) shares sank nearly 31%. The athletic goods retailer lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace, while its fiscal second-quarter results fell short of market estimates.McKesson (MCK) agreed to acquire Precision Medicine in a transaction worth roughly $2.25 billion as part of the drug distributor's efforts to strengthen its clinical research and commercialization services. McKesson shares jumped 3.6%.Nvidia (NVDA) shares rose 2.2%, the second-biggest gain on the Dow and snapping a seven-day losing streak. The tech bellwether is scheduled to release its quarterly results on Wednesday.Spot gold was up 0.4% at $4,668.41 per troy ounce, while silver rose 0.5% to $69.76 per ounce.

Dow JonesNasdaq CompositeS&P 500$DKS$MCK$NVDA
Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.3%.In sector news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said Tuesday. The consumer confidence index dropped to 89.4 this month from July's reading of 90.2, which was the consensus in a Bloomberg survey.Separately, Redbook US same-store sales rose by 9.1% from a year earlier in the week ended Aug. 22 after a 7.6% year-over-year increase in the previous week. Redbook noted strong back-to-school sales, especially in the Midwest and South regions, where the school year started earlier. High fuel prices continued to weigh on consumer spending, while state tax holidays boosted sales in Florida, Illinois and Connecticut. Some retailers plan to use federal tariff refunds to reduce prices and drive sales.In corporate news, Dick's Sporting Goods (DKS) shares tumbled 30% after it lowered its full-year outlook on Tuesday amid a challenging athletic footwear and apparel marketplace. The company's fiscal Q2 results also fell short of market estimates.Target (TGT) shares were down 4% in Tuesday trading, a day after the company apologized over an offensive Halloween clown costume. The company said the costume is no longer available for sale and that it is reviewing how this happened and what steps it needs to take to ensure it does not happen again.The union representing over 12,000 Starbucks (SBUX) baristas said Tuesday on X it was calling for a boycott of the company until the two sides finalize a contract. Starbucks shares declined 1.7%.PepsiCo (PEP) will stop covering prescription weight-loss drugs under its company health insurance plans for some employees starting in October due to rising costs, Bloomberg reported, citing an email sent to employees. PepsiCo shares fell 1.6%.

$DKS$PEP$SBUX$TGT
Update: Equities Rise Intraday, Oil Falls as Markets Monitor Trade Developments
US Markets

Update: Equities Rise Intraday, Oil Falls as Markets Monitor Trade Developments

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday, while oil prices dropped as investors tracked Washington's new economic sanctions on Iran and a worsening trade conflict with Canada.The technology-heavy Nasdaq Composite was up 0.5% at 26,118.8 after midday Tuesday, while the S&P 500 rose 0.2% to 7,668.7. The Dow Jones Industrial Average edged up 0.1% to 53,484.3. Among sectors, tech paced the gainers, while consumer staples led the laggards.West Texas Intermediate crude oil fell 3.2% to $82.31 a barrel, while Brent dropped 3.7% to $88.81.On Monday, the US Treasury Department launched an economic campaign to cut off financial channels that support Iran. Countries doing business with Tehran will be given deadlines to shut down Iran-related activities, while entities aiding money laundering or sanctions evasion on behalf of Iran could be cut off from the US financial system.Iran vowed to retaliate and expressed confidence that its major trading partners will resist Washington's pressure campaign, according to CNBC. China, Russia, India, Pakistan, Qatar and Turkey, among others, still trade with Tehran, Axios reported Monday.China has warned that the new US sanctions on Iran "will only further intensify tensions" and that Beijing's cooperation with Tehran should not be disrupted, CNN reported Tuesday."The market seems largely unfazed by Washington's push for tighter economic pressure on Iran, with traders treating the US effort to nudge partners away from Iranian trade as marginal rather than market-moving," ING Bank said in a report.Canada unveiled retaliatory tariffs against Washington, matching "dollar for dollar" the 50% duties recently imposed by US President Donald Trump, news outlets reported Tuesday. Canada's new tariffs reportedly cover more than 700 US goods and are worth roughly $20 billion.Trade talks between the US and Canada collapsed late last week.US Treasury yields were lower intraday Tuesday, with the 10-year yield down 5.9 basis points at 4.65% and the two-year yield falling 2.8 basis points to 4.21%. Yields on long-term maturities also eased.In economic news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said.The Federal Reserve may have to tighten its monetary policy soon, unless inflation continues to cool, Boston Fed President Susan Collins said."Given the many possible scenarios, policy will need to be nimble," she said. "Should evidence of sustained inflation progress not materialize, I believe it will be appropriate to tighten policy soon to ensure we deliver price stability in a reasonable time frame."Markets are currently pricing in a 60% probability that the Fed will keep its benchmark rate steady in September, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.In company news, Dick's Sporting Goods (DKS) shares sank 29% intraday. The athletic goods retailer lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace, while its fiscal second-quarter results fell short of market estimates.McKesson (MCK) agreed to acquire Precision Medicine in a transaction worth roughly $2.25 billion as part of the drug distributor's efforts to strengthen its clinical research and commercialization services. McKesson shares were up 2.3%.Intuit (INTU) is among the companies that are scheduled to report their latest quarterly financial results after the closing bell Tuesday.Spot gold was down 0.3 at $4,640.49 per troy ounce, while silver edged up 0.1% to $69.43 per ounce.

Dow JonesNasdaq CompositeS&P 500$DKS$INTU$MCK
Wire

Top Midday Decliners

Gorilla Technology's (GRRR) shares sank about 11% amid heavy trading after the company swung to an H1 adjusted loss.Intraday trading volume climbed to over 1.72 million from a daily average of about 1.54 million.Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace while fiscal Q2 results missed market estimates.Shares sank 29%, with intraday trading volume catapulting to over 26.3 million from the stock's daily average of roughly 1.42 million.Target (TGT) shares dropped 4% a day after the company apologized over an offensive Halloween clown costume.More than 3.93 million shares traded intraday compared with the stock's daily average of about 4.50 million.Price: $14.13, Change: $-1.70, Percent Change: -10.74%

$DKS$GRRR$TGT
Sectors

Sector Update: Consumer Stocks Decline Tuesday Afternoon

Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.2%.In sector news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said Tuesday. The consumer confidence index dropped to 89.4 this month from July's reading of 90.2, which was the consensus in a Bloomberg survey.Separately, Redbook US same-store sales rose by 9.1% from a year earlier in the week ended Aug. 22 after a 7.6% year-over-year increase in the previous week. Redbook noted strong back-to-school sales, especially in the Midwest and South regions, where the school year started earlier. High fuel prices continued to weigh on consumer spending, while state tax holidays boosted sales in Florida, Illinois and Connecticut. Some retailers plan to use federal tariff refunds to reduce prices and drive sales.In corporate news, Dick's Sporting Goods (DKS) shares tumbled 29% after it lowered its full-year outlook on Tuesday amid a challenging athletic footwear and apparel marketplace. The company's fiscal Q2 results also fell short of market estimates.Honda (HMC) is weighing the possibility of building a new facility in the US as it plans to introduce 15 new gas-electric hybrid models by March 2030, primarily targeting the North American market, Bloomberg reported. Honda shares were down 2.3%.Tesla (TSLA) has raised the prices of some Cybertruck pickup trucks in the US, media outlets reported Tuesday, citing the company's website. The Dual Motor All-Wheel Drive is currently priced on the company's website at $74,990 and the premium model at $84,990. That represents an increase of $5,000 each, according to a Reuters report that also said the price tag was bumped on Tuesday. Tesla shares rose 1.2%.

$DKS$HMC$TSLA
Wire

Wells Fargo Adjusts Dick's Sporting Goods Price Target to $185 From $240, Maintains Overweight Rating

Dick's Sporting Goods (DKS) has an average rating of overweight and mean price target of $255.17, according to analysts polled by FactSet.Price: $127.77, Change: $-51.56, Percent Change: -28.75%

$DKS
Sectors

Sector Update: Consumer

Consumer stocks were mixed Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) fractionally higher.In corporate news, Dick's Sporting Goods (DKS) shares tumbled 28% after it lowered its full-year outlook on Tuesday amid a challenging athletic footwear and apparel marketplace. The company's fiscal Q2 results also fell short of market estimates.

$DKS
Asia Markets

Update: Technology Helps Push US Equity Indexes Higher Amid Declines in Treasury Yields, Crude Oil

(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.)US equity indexes rose as technology topped sector charts while government bond yields and crude oil extended declines after Iran vowed to retaliate against the Trump administration's plans to choke its fragile economy.The Nasdaq Composite advanced 0.6% to 26,141.5, the S&P 500 climbed 0.3% to 7,675.6 and the Dow Jones Industrial Average edged up 0.1% to 53,493.8. Consumer staples and energy led the decliners.Among companies with market capitalizations exceeding $200 billion each, more than half of the top 10 names by intraday returns were in the technology sector, according to data compiled by Finviz. Of those seven firms, five were related to the semiconductor industry. Marvell Technology (MRVL) led the pack, up 5.6%.US Treasury yields dropped after midday. The 30-year slumped 5.8 basis points to 5.17%, the 10-year dropped 5.9 basis points to 4.64% and the two-year retreated 5.3 basis points to 4.2%.Iran pledged to fight back against expanded US sanctions aimed at isolating its economy, expressing confidence that major trading partners would resist the pressure campaign and saying that Washington was keen to revive talks, Reuters reported.Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified "major financial institution" for its dealings with Tehran, Beijing responded by saying its relationship with Iran "should not be disrupted or undermined," Bloomberg reported. China will take "all necessary measures" to safeguard its interests, Foreign Ministry spokesperson Lin Jian was cited as saying.The front-month US West Texas Intermediate crude oil contract retreated 3.4% to $82.09 per barrel, and global benchmark North Sea Brent slumped 3.8% to $88.69 per barrel.A Canada-US trade deal could still be reached by year-end despite renewed tariff tensions, Commerzbank Research said in a Tuesday note. Monday's US tariffs on Canadian vehicles, auto parts and steel are set to take effect from the start of next year.Meanwhile, in economic news, the Conference Board's measure of consumer confidence fell to 89.4 in August from 90.2 in July, compared with expectations for no change in a survey compiled by Bloomberg.New-home sales fell to a 607,000 annual rate in July from an upwardly revised 678,000 in June, below the 620,000 expected in a survey compiled by Bloomberg. Home sales were down 6.3% from a year ago.The Richmond Fed's manufacturing index fell to 4 in August from 5 in July, below expectations for 7 in a survey compiled by Bloomberg. In contrast, other regional manufacturing data already released have suggested a faster pace of expansion.Redbook US same-store sales surged 9.1% from a year earlier in the week ended Aug. 22 after a 7.6% jump in the prior week. Redbook noted strong back-to-school sales.In company news, Dick's Sporting Goods (DKS) lowered its full-year outlook amid a challenging athletic footwear and apparel marketplace while fiscal Q2 results missed market estimates. Shares sank 29%. Among the steepest decliners on the Dow and the S&P 500 were sports goods retailers Nike (NKE) and Lululemon Athletics (LULU), down 2.7% and 4.2%, respectively.

Dow JonesNasdaq CompositeS&P 500$DKS$LULU$MRVL$NKE
Wire

Top Midday Stories: Dick's Sporting Goods Earnings, Guidance Undershoot Targets; SpaceX Targets Q4 2027 for First AI Satellite Launches

The Nasdaq Composite and S&P 500 Index were up, while the Dow Jones Industrial Average was roughly flat in late-morning trading, as longer-dated Treasury bond yields were down slightly and investors looked ahead to Nvidia's (NVDA) earnings results on Wednesday.Canada will impose counter tariffs of 15%, 25% or 50% on about $20 billion of imports from the US, effective Sept. 8, in response to President Donald Trumps recent announcement of 50% tariffs on roughly $20 billion of Canadian goods, Canadian Finance Minister Francois-Philippe Champagne said Tuesday at a press conference.In company news, Dick's Sporting Goods (DKS) reported fiscal Q2 non-GAAP earnings Tuesday of $3.53 per diluted share, down from $4.38 a year ago and below the FactSet consensus analyst estimate of $3.76. Fiscal Q2 net sales were $5.59 billion, up from $3.65 billion a year ago but below the FactSet consensus of $5.64 billion. For fiscal 2026, the company expects non-GAAP EPS of $11 to $12, down from its prior guidance of $13.50 to $14.50 and below the FactSet consensus of $14.28. Full-year net sales are expected to be between $21.9 billion and $22.2 billion, down from Dick's previous guidance of $22.1 billion to $22.4 billion and below the FactSet consensus of $22.33 billion. Shares of Dick's were down 27.6% around midday.SpaceX (SPCX) plans to launch its first artificial intelligence satellites run by Nvidia chips in Q4 2027, with the network expected to reach significant scale in 2028, Chief Executive Elon Musk said Monday on X. SpaceX shares were up 3.3%.Alphabet's (GOOG, GOOGL) Google Cloud said Tuesday it has launched a new agentic AI service for financial professionals, with Deutsche Bank (DB) and CME Group (CME) among those firms granted early access. Gemini Enterprise for Financial Services includes the Financial Research agent, skills to create shortcuts for repetitive tasks, integrations to FactSet (FDS) and Moody's (MCO), a third-party agent ecosystem and the Gemini Enterprise platform, the company said. Separately, Alphabet's Waymo said Tuesday it plans to establish a fully autonomous ride-hailing network in Munich. Alphabet's Class C and Class A shares were both down 0.5%, while Deutsche Bank and CME Group shares were up 1.0% and down 0.4%, respectively.Bank of Montreal (BMO) reported fiscal Q3 adjusted EPS Tuesday of 3.96 Canadian dollars ($2.86), up from CA$3.23 a year earlier and above the FactSet consensus of CA$3.77. Fiscal Q3 revenue was CA$9.9 billion, up from CA$8.99 billion a year ago and above the FactSet consensus of CA$9.73 billion. The bank said it plans to repurchase for cancellation up to 25 million of its common shares under a normal course issuer bid. The buyback program is expected to start around Sept. 8 and run until Sept. 7, 2027, the company said. Bank of Montrea shares were down 0.3%.Bank of Nova Scotia (BNS) reported fiscal Q3 adjusted EPS Tuesday of CA$2.28, up from CA$1.88 a year earlier and above the FactSet consensus of CA$2.10. Fiscal Q3 revenue was CA$10.54 billion, up from CA$9.49 billion a year ago and above the FactSet consensus of CA$9.98 billion. Scotiabank shares were up 4.9%.Price: $211.22, Change: $+2.74, Percent Change: +1.31%

$BMO$BNS$CME$DB$DKS$GOOG$GOOGL$NVDA$SPCX
Wire

Update: Dick's Sporting Goods Shares Decline as Fiscal Q2 Non-GAAP Earnings Fall; Fiscal 2026 Guidance Lowered

(Updates to include Dick's Sporting Goods' stock move in the headline and first paragraph.)Dick's Sporting Goods (DKS) shares were down more than 22% early Tuesday, after the company posted a decline in fiscal Q2 non-GAAP earnings and cut its fiscal 2026 outlook.The company reported fiscal Q2 non-GAAP earnings of $3.53 per diluted share, down from $4.38 a year earlier.Analysts polled by FactSet expected $3.76.Net sales for the quarter ended Aug. 1 were $5.59 billion, compared with $3.65 billion a year earlier.Analysts expected $5.64 billion.For fiscal 2026, the company said it now expects non-GAAP EPS of $11 to $12, compared with its prior guidance of $13.50 to $14.50. Analysts are looking for $14.28.Net sales for the full year are now expected between $21.9 billion and $22.2 billion, compared with its previous guidance of $22.1 billion to $22.4 billion. Analysts are looking for $22.33 billion.Price: $139.14, Change: $-40.41, Percent Change: -22.51%

$DKS
Sectors

Sector Update: Consumer Stocks Mixed Pre-Bell Tuesday

Consumer stocks were mixed pre-bell Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing 0.4%.Dick's Sporting Goods (DKS) stock was down nearly 20% after the company posted a decline in fiscal Q2 non-GAAP earnings and lowered its fiscal 2026 outlook.Vipshop Holdings (VIPS) shares were down nearly 3% after the company reported lower Q2 non-GAAP earnings and net revenue.Marzetti (MZTI) stock was up more than 5% after the company posted higher fiscal Q4 adjusted earnings.

$DKS$MZTI$VIPS$XLP$XLY

Showing 1-20 of 41

Track with the FINWIRES app suite

FolioX
FolioX
Track DKS in your portfolio
WheelAI
WheelAI
Analyze DKS options with the wheel strategy
StockInsider
StockInsider
See market sentiment on DKS