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Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday as Chip Stocks Recover

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.5%, and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Tuesday's premarket activity as chip stocks recovered from Monday's losses.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 1% before the start of regular trading.In premarket activity, bitcoin was up by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% higher, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) increased 2.4%.The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index fell to negative 10.6 in August from 7.4 in the previous month, compared with a smaller decrease to 3.6 expected in a Bloomberg survey, indicating contraction in the sector.The Case-Shiller National Home Price index rose by 0.4% in June before seasonal adjustment following a 0.7% increase in May.The FHFA's measure of home prices held steady in June after an unrevised 0.3% increase in the previous month, below the 0.2% gain expected in a survey compiled by Bloomberg.Reports slated for a 10 am ET release include the consumer confidence report and Richmond Fed business conditions data for August, and new-home sales for July.Power Play:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was 0.1% lower, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.1%, and the iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.2%. The VanEck Retail ETF (RTH) was down 0.4%, while the State Street SPDR S&P Retail ETF (XRT) was flat.Dick's Sporting Goods (DKS) shares were down more than 17% pre-bell after the company reported lower fiscal Q2 non-GAAP earnings and cut its fiscal 2026 guidance.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.7% lower.Bank of Nova Scotia (BNS) shares were up 2% in premarket activity after the company reported higher fiscal Q3 adjusted earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.1%, the Vanguard Health Care Index Fund (VHT) was up 1%, while the iShares US Healthcare ETF (IYH) advanced 0.5%. The iShares Biotechnology ETF (IBB) was 0.2% higher.Moderna (MRNA) stock was up more than 1% premarket after Wolfe upgraded it to peer perform from underperform.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.5%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.SpaceX (SPCX) stock was up more than 1% before the opening bell after Elon Musk said in an X post on Monday that the company plans to launch its first AI satellites run by Nvidia (NVDA) chips in Q4 2027, with the network expected to reach significant scale in 2028.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1.1%, the iShares US Technology ETF (IYW) was 1.3% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 2.9% while the iShares Semiconductor ETF (SOXX) rose by 2.4%.Nvidia (NVDA) shares were up more than 1% in premarket activity after Raymond James lifted its price target for the company to $352 from $330.EnergyThe iShares US Energy ETF (IYE) retreated 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 1%.Equinor (EQNR) stock was down more than 1% before market open, following a 1.1% loss in the previous session. The company's Executive Vice President Philippe Mathieu said Equinor plans to boost production outside Norway to 950,000 barrels of oil equivalent per day by 2030, while generating $20 billion of free cash flow from 2026 to 2030.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.5% to $82.02 per barrel on the New York Mercantile Exchange. Natural gas was down 1.7% at $2.74 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased 2.9%, while the United States Natural Gas Fund (UNG) was 1.4% lower.Gold futures for November were down by 0.1% at $4,692.70 an ounce on the Comex. Silver futures retreated 0.9% to $68.77 an ounce. SPDR Gold Shares (GLD) decreased 0.4%, and the iShares Silver Trust (SLV) was 1.3% lower.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BNS$DKS$EEM$EETH$EQNR$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MRNA$NVDA$PMR$QQQ$RTH$SLV$SOXX$SPCX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Dick's Sporting Goods Lowers Full-Year Outlook Following Second-Quarter Miss
US Markets

Dick's Sporting Goods Lowers Full-Year Outlook Following Second-Quarter Miss

Dick's Sporting Goods (DKS) lowered its full-year outlook on Tuesday amid a challenging athletic footwear and apparel marketplace, while the company's fiscal second-quarter results fell short of market estimates.The athletic goods retailer now expects adjusted earnings to come in between $11 and $12 per share for fiscal 2026, down from its previous projections of $13.50 to $14.50. Sales are pegged to be in a range of $21.9 billion to $22.2 billion, compared with the prior guidance of $22.1 billion to $22.4 billion. The current consensus on FactSet is for non-GAAP EPS of $14.28 and sales of $22.33 billion.Shares of the company tanked 18% in the most recent premarket activity.Conditions across parts of the athletic footwear and apparel marketplace "became increasingly promotional" as the second quarter progressed, prompting Dick's to keep prices competitive, Executive Chairman Ed Stack said in a statement. The environment had a significant impact on Foot Locker, which Dick's acquired last year, resulting in fewer launches in the quarter, according to Stack."As a result, we are taking a more cautious view of the balance of the year," Stack said. "While these near-term dynamics have led us to revise our expectations for 2026, our confidence in the long-term opportunities ahead for both Dick's and Foot Locker remains unchanged."The retailer continues to forecast comparable sales for the Dick's business to rise by 2.5% to 4% for the ongoing fiscal year. The average analyst estimate is for same-store sales growth of 3.6%. Comparable sales for Foot Locker are now anticipated to be flat to down 2% versus the previous outlook for growth of 1.5% to 3%.Last week, Oppenheimer said in an emailed client note that it expected Dick's to deliver second-quarter results at least in line with its plan and potentially provide a positive update to its full-year outlook.For the three months through Aug. 1, the retailer's adjusted EPS fell to $3.53 from $4.38 the year before, below the Street's view for $3.76. Sales jumped 53% to $5.59 billion, but were shy of the market's estimate of $5.64 billion.Comparable sales for the Dick's business increased 4.9%, despite "growing pressure across portions of the athletic footwear and apparel marketplace," Chief Executive Lauren Hobart said. Analysts surveyed by FactSet had modeled a gain of 4%.On a pro forma basis, consolidated same-store sales were up 2.1%."Our (second-quarter) results reflect the strength of our athlete-focused strategy, broad differentiated assortment, strong brand partnerships and continued focus on profitable growth opportunities," according to Hobart. "We invested significantly around the FIFA World Cup, and our team delivered outstanding results."Rival Academy Sports and Outdoors (ASO) and luxury athletic apparel retailer Lululemon Athletica (LULU) are scheduled to release their latest financial results next month. In June, sportswear giant Nike (NKE) posted a year-over-year decline in its fiscal fourth-quarter revenue.

$ASO$DKS$LULU$NKE
Sectors

Sector Update: Consumer

Consumer stocks were mixed pre-bell Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) marginally advancing.Dick's Sporting Goods (DKS) stock was down more than 18% after the company posted a decline in fiscal Q2 non-GAAP earnings and lowered its fiscal 2026 outlook.

$DKS
Asia Markets

Update: US Equity Futures Higher Pre-Bell as Tech Stocks Bounce Back From Selloff

(Updates with economic data, recent oil price movement, world markets' overview, and corporate stock movements.)US equity futures were edging higher pre-bell Tuesday as technology-related stocks bounced back from a selloff in the previous session.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 1% higher.In a Monday announcement of new economic sanctions against Iran, US Treasury Secretary Scott Bessent said that other countries would need to stop doing business with the Middle Eastern nation or risk being cut out of the dollar-based financial system. He did not identify the countries involved but added that they have a defined timeline to comply with the new directive.Traders digested the latest round of earnings, with Bank of Montreal (BMO) reporting higher fiscal Q3 adjusted earnings and revenue.Intuit (INTU) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect adjusted earnings of $3.58 per share on revenue of $4.27 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.9% at $87.88 per barrel and US West Texas Intermediate crude 3.1% lower at $82.37 per barrel.The June S&P Case-Shiller home price index is scheduled for release at 9 am ET. The August consumer confidence index, due at 10 am ET, is projected to drop to 90.2 from 90.8, according to estimates compiled by Bloomberg. July new home sales are seen at a 620,000 annual rate, down from 628,000 previously. The Richmond Fed manufacturing index for August is also scheduled to be released at 10 am ET.Federal Reserve Richmond President Thomas Barkin is slated to speak at 4 pm ET.In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, stocks of Nvidia (NVDA), Micron Technology (MU), and Advanced Micro Devices (AMD) were higher as part of a wider upswing in the technology sector. Nvidia shares rose 1.3%, Micron Technology stock was up 2.2%, and Advanced Micro Devices shares were 3% higher.On the losing side, stocks of Exxon Mobil (XOM), Chevron (CVX), and ConocoPhillips (COP) were down as oil prices declined. Exxon Mobil shares fell 1.3%, Chevron stock was down 1%, and ConocoPhillips shares were 1.7% lower. Dick's Sporting Goods (DKS) stock plunged 19% after the company posted lower-than expected fiscal Q2 non-GAAP earnings and net sales, as well as reduced its fiscal 2026 outlook.

Dow JonesNasdaq CompositeS&P 500$AMD$BMO$COP$CVX$DKS$INTU$MU$NVDA$XOM
Stocks Rise Pre-Bell as Traders Weigh US Trade Measures Against Iran, Canada
US Markets

Stocks Rise Pre-Bell as Traders Weigh US Trade Measures Against Iran, Canada

US equity futures were pointing higher on Tuesday as investors assess new US trade measures against Iran and Canada.The S&P 500 and the Dow Jones Industrial Average rose 0.5% each in premarket activity, while the Nasdaq increased 1%. The S&P 500 and Nasdaq finished the previous trading session lower, while the Dow closed higher.On Monday, the Treasury Department launched an economic campaign to cut off financial channels that support Iran."We are launching an economic onslaught against Iran's financial connections around the globe," Treasury Secretary Scott Bessent said Monday. "Our objective is to sever every economic lifeline that sustains this tyrannical regime until Tehran stands alone."Countries doing business with Iran will be given deadlines to shut down Iran-related activities, while entities aiding money laundering or sanctions evasion on behalf of Tehran could be cut off from the US financial system, according to a statement.Iran reportedly promised to retaliate against the expanded US sanctions 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.West Texas Intermediate crude oil dropped 3% to $82.5 a barrel before the opening bell, while Brent fell 2.9% to $89.53.In a social media post on Monday, President Donald Trump said the US will increase tariffs on imports of certain goods, including cars and trucks, from Canada to 50% starting next year, after trade talks between the two countries collapsed late last week.Canadian Prime Minister Mark Carney said last week that Canada will match the US tariffs "dollar for dollar."Treasury yields were down in premarket action, with the two-year retreating 1.7 basis points to 4.22% and the 10-year rate off 3.4 basis points to 4.67%.Federal Reserve Chair Kevin Warsh's debut Jackson Hole speech on Friday is unlikely to help clear up investor confusion over the Treasury Department's bond market intervention, Morgan Stanley said in a note sent Monday. The firm's economists view the expansion in bond buybacks announced last week as evidence that the Treasury had become uncomfortable with a rise in long-term interest rates.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.Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for June, at 9 am ET. The consumer confidence and the Richmond Fed manufacturing index, both for August, are out at 10 am, along with the new home sales report for July.Richmond Fed President Thomas Barkin is scheduled to speak at 8 am and later at 4 pm.Dick's Sporting Goods (DKS) is set to release its latest financial results before the bell, among others. Intuit (INTU), Heico (HEI) and Zoom Communications (ZM) post their earnings after the markets close.Gold dipped 0.1% to $4,692 per troy ounce, while bitcoin inclined 0.6% to $79,298.

Dow JonesNasdaq CompositeS&P 500$DKS$HEI$INTU$ZM
Wire

Dick's Sporting Goods Expected to Deliver Q2 Results at Least in Line With Plan, Oppenheimer Says

Dick's Sporting Goods (DKS) is expected to deliver Q2 results at least in line with its plan and potentially provide a positive update to 2026 guidance, Oppenheimer said in a note Friday.The company is scheduled to report its financial results Tuesday before market open.Oppenheimer forecasts Q2 earnings per share of $3.79 and core comparable sales growth of 3% to 5%, compared with Street estimates of $3.76 and 4.1%. It expects 2026 EPS of $14.30 and core comparable sales growth of 2% to 4%.Looking ahead, Oppenheimer said continued success in repositioning Foot Locker could provide an incremental driver of profit expansion from 2027.The investment firm also expects management commentary on the early results of the repositioning, particularly fresh merchandising and presentation, to help ease investor concerns.Oppenheimer maintains an outperform rating.Price: $182.11, Change: $+2.77, Percent Change: +1.54%

$DKS
Research

Wells Fargo Upgrades Dick's Sporting Goods to Overweight From Equalweight, Adjusts PT to $240 From $220

Dick's Sporting Goods (DKS) has an average rating of overweight and mean price target of $255.17, according to analysts polled by FactSet.

$DKS
Wire

Dick's Sporting Goods Launches ScoreCard+, Expands Loyalty Rewards

Dick's Sporting Goods (DKS) launched ScoreCard+, a new paid membership tier priced at $99 annually, and enhanced its free ScoreCard loyalty program with new rewards and benefits, the company said Wednesday.The retailer said ScoreCard+ members will receive unlimited free standard shipping, $100 in guaranteed annual rewards, one complimentary service or experience each year, exclusive discounts and additional bonus rewards opportunities.Dick's also lowered the redemption threshold for free ScoreCard members to a $5 reward after earning 150 points from $10 after 300 points. Starting July 1, members can also earn and redeem rewards on eligible services and experiences, the company said.Shares of the company were up 1.4% in Wednesday trading.Price: $230.01, Change: $+3.20, Percent Change: +1.41%

$DKS
Wire

Dick's Sporting Goods Collaborates With Lids for In-Store Headwear Shops

Dick's Sporting Goods (DKS) entered a new partnership with Lids to open dedicated headwear shops inside DICK'S stores nationwide, the sporting goods retailer said Monday.The shops are currently live in 46 locations and will expand to more than 100 stores by late summer 2026, featuring Lids' licensed and lifestyle headwear assortment alongside branded fixtures and merchandising, Dick's Sporting Goods said.Financial details weren't provided.Price: $218.23, Change: $-2.76, Percent Change: -1.25%

$DKS
Wire

Nike Turnaround Could Take Longer Despite New Growth Drivers, RBC Says

Nike's (NKE) turnaround is likely to remain slow through the rest of 2026 as product progress, inventory cleanup, direct sales recovery and new growth drivers may take longer to have an effect, RBC Capital Markets said in a note Wednesday.Nike is making progress under CEO Elliott Hill, including changes to the organization, wholesale business, sports-focused teams and running category, but product improvement is still not broad enough and Nike's revenue growth outlook remains weaker than the wider sector, which could point to further market share pressure, the investment firm said.Nike needs better full-price direct-to-consumer sales, while tighter buying from Dick's Sporting Goods (DKS) and Foot Locker (FL) could affect underperforming styles in wholesale, RBC said.The company could beat Q4 expectations if North America wholesale demand and World Cup-related orders are strong, but RBC said an improvement in direct-to-consumer sales is also necessary, but not as likely.RBC downgraded Nike to sector perform from outperform and cut its price target to $50 from $70, saying there are limited near-term reasons for the stock to move higher.Price: $44.21, Change: $-0.44, Percent Change: -0.99%

$DKS$FL$NKE
Research

Research Alert: CFRA Raises Price Target On Shares Of Dick's Sporting Goods

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month price target by $52 to $275, based on 19.8x our FY 27 EPS estimate and above the company's three- and five-year average forward P/E multiples of 13.8x and 12.4x, respectively. We maintain our FY 27 and FY 28 EPS estimates of $13.92 and $15.64, respectively. We raise our price target because we believe investors will begin to re-rate shares as profitability improves at Foot Locker and EPS growth accelerates in FY 28 and FY 29. DKS net sales increased to $5.16B, up 63% from the prior year quarter, $100M above consensus, with the DICK'S Business contributing $3.38B and the newly acquired Foot Locker Business adding $1.79B. The company delivered non-GAAP EPS of $2.90, down from $3.37 in the prior yea rand $0.01 below consensus, reflecting the dilutive impact of shares issued for the Foot Locker acquisition and integration costs. The DICK'S Business demonstrated robust performance with comparable sales growth of 6.0%, while Foot Locker increased 0.6%. We raise our price target and remain bullish.

$DKS
Wire

Dick's Sporting Goods Stock Faces Positive Catalyst Path Ahead, UBS Says

Dick's Sporting Goods (DKS) shares face a positive catalyst path ahead, with the company heading into Q2 with robust momentum, UBS said in a Wednesday research report.An outsized comp in Q1, an inflection at the Foot Locker business in the US, and an upward revision to guidance improve the prospects of profitability growth, analysts wrote.Dick's Sporting Goods is showcasing merchandising agility, and the FIFA 2026 World Cup will continue to boost organic sales in Q2, but the company remains in the early stage of integrating and transforming Foot Locker, according to a note.The brokerage said it reiterated its buy rating on the stock and price target of $275 per share.Price: $228.54, Change: $+9.33, Percent Change: +4.26%

$DKS
Wire

Dick's Sporting Goods Likely to Benefit from Sales Momentum, Morgan Stanley Says

Dick's Sporting Goods (DKS) should benefit from stronger sales momentum and better operating leverage in H2 after World Cup marketing spend in H1, Morgan Stanley said in a note Thursday."We believe the re-acceleration in topline momentum in the core DICK's Business, and the upcoming positive inflection in Foot Locker margins are underappreciated," the report said.The note said core sales are improving, with Q1 comparable sales up 6%, and momentum is expected to continue in the mid single-digit range through Q2.The note said operating leverage is expected to return in H2 as World Cup spending fades and merchandise margins improve.Foot Locker visibility is improving, buoyed by early merchandise progress, and "Fast Break" conversions, the report said.Morgan Stanley kept its overweight rating and raised its price target to $270 from $250.Price: $225.51, Change: $+6.30, Percent Change: +2.87%

$DKS
Wire

Truist Lifts Price Target on Dick's Sporting Goods to $270 From $252, Keeps Buy Rating

Dick's Sporting Goods (DKS) has an average rating of overweight and mean price target of $240.32, according to analysts polled by FactSet.Price: $220.60, Change: $-12.53, Percent Change: -5.37%

$DKS
Research

Research Alert: Dick's Sporting Goods Posts Mixed Quarter; Maintains Non-gaap Eps Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:DICK'S Sporting Goods reported consolidated net sales of $5.16B, up 63% and $100M above consensus, driven by the DICK'S Business contributing $3.38B and newly acquired Foot Locker adding $1.79B. Non-GAAP EPS of $2.90 declined from $3.37 in the prior year and came in $0.01 below consensus, reflecting dilution from 9.6M shares issued for the Foot Locker acquisition and integration costs. We are encouraged by early Foot Locker results, including a return to positive comparable sales growth of 0.6% and the Fast Break initiative showing double-digit comp sales improvements across approximately 100 stores globally. The company raised comparable sales guidance for both businesses, with DICK'S Business outlook improving to 2.5%-4.0% from 2.0%-4.0% and Foot Locker guidance increasing to 1.5%-3.0% from 1.0%-3.0%. We continue to believe the company has the right management team to improve Foot Locker profitability in coming quarters while maintaining balanced capital deployment through share repurchases and dividends.

$DKS
Dick's Sporting Goods Tops First-Quarter Views, Maintains Outlook
US Markets

Dick's Sporting Goods Tops First-Quarter Views, Maintains Outlook

Dick's Sporting Goods (DKS) reported fiscal first-quarter results above market expectations on Wednesday, while the athletic goods retailer affirmed its full-year outlook.The company's adjusted earnings came in at $2.90 a share for the quarter ended May 2, down from $3.37 the year before, but topped the FactSet-polled consensus of $2.89. Sales surged 63% to $5.16 billion, ahead of the Street's view for $5.07 billion. Foot Locker contributed $1.79 billion in revenue.Foot Locker returned to positive comparable sales and profitability, Dick's Executive Chairman Ed Stack said in a statement.For fiscal 2026, Dick's continues to project adjusted EPS between $13.50 and $14.50 on sales of $22.1 billion to $22.4 billion. The Street is looking for non-GAAP EPS of $14.30 and sales of $22.34 billion."Our guidance continues to reflect the strength of the Dick's business and the turnaround efforts underway at Foot Locker, all within the context of the dynamic geopolitical and macroeconomic environment," Chief Financial Officer Navdeep Gupta said during an earnings call, according to a FactSet transcript.Shares of the company were down 2.4% in Wednesday trade.Comparable sales for the Dick's business climbed 6% in the first quarter, surpassing the 3% growth rate modeled by the market. The result was primarily driven by average ticket gains, Stack told analysts.On a pro-forma basis, consolidated same-store sales rose 4.1%.For the ongoing fiscal year, comparable sales for the Dick's business is expected to rise by 2.5% to 4%, reflecting a higher low end. The market's view is for same-store sales growth of 3.1%."We continue to expect higher comps in the first half, driven in large part by the timing of the (FIFA) World Cup," Gupta said on the call.

$DKS
Sectors

Sector Update: Consumer Stocks Mixed Pre-Bell Wednesday

Consumer stocks were mixed pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.4%.Lululemon athletica (LULU) stock was up more than 3% after the company said it has settled its dispute with its founder, Chip Wilson.PDD Holdings (PDD) shares were down more than 7% after the company posted Q1 non-GAAP earnings and revenue that missed analysts' estimates, with non-GAAP EPS declining year over year.Dick's Sporting Goods (DKS) stock was down more than 2% after the company reported a decline in fiscal Q1 non-GAAP earnings.

$DKS$LULU$PDD$XLP$XLY
Stocks Rise Pre-Bell Amid Tech Rally; Middle East Uncertainty Persists
US Markets

Stocks Rise Pre-Bell Amid Tech Rally; Middle East Uncertainty Persists

US equity futures were trending higher on Wednesday amid tech-driven momentum from the previous trading session, while investors continue to monitor ongoing uncertainty in the Middle East.The S&P 500 rose 0.3%, the Dow Jones Industrial Average gained 0.5% and the Nasdaq added 0.4% in premarket activity. The Nasdaq and the S&P 500 finished Tuesday trading at new record peaks, while the Dow closed lower.Shares of Micron Technology (MU) advanced 5.7% pre-bell after finishing the prior session up 19%. The semiconductor manufacturer's market capitalization crossed the $1 trillion mark for the first time on Tuesday, with UBS Securities increasing its price target on the company's stock.Marvell (MRVL) rose 6% before the bell, while Seagate (STX) and Western Digital (WDC) gained 3.6% and 3.3%, respectively.Investors are also keeping an eye out for any updates on peace talks between the US and Iran. Tehran's Islamic Revolutionary Guard Corps reportedly said Tuesday that Iran has a "legitimate" right to respond to any violation of a ceasefire by the US.Earlier in the week, the US military targeted Iranian missile launch sites and boats around the crucial Strait of Hormuz, in what it described as "self-defense strikes," according to multiple media outlets. President Donald Trump said Monday that negotiations with Iran were "proceeding nicely.""While an extended conflict with Iran remains the largest risk to continued market gains, in our view, markets are positioned for more progress on peace talks and the Strait of Hormuz reopening," D.A. Davidson said in a report Tuesday.West Texas Intermediate crude oil declined 4% to $90.12 a barrel before the opening bell, while Brent fell 3.2% to $96.43.Treasury yields were down in premarket action, with the two-year rate retreating 2.9 basis points to 4.02% and the 10-year rate off 2.6 basis points to 4.47%.US consumer confidence fell in May amid mounting inflation concerns as the Middle East conflict has stretched for about three months now, a survey by the Conference Board showed Tuesday.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the Federal Reserve Bank of Richmond's manufacturing index for May at 10 am. The Atlanta Fed's survey of business uncertainty for this month is out at 11 am.Federal Reserve Governor Lisa Cook is scheduled to speak at 3:55 pm, while Fed Vice Chair Philip Jefferson speaks later at 8 pm.PDD (PDD), Dick's Sporting Goods (DKS), Dycom Industries (DY), Bath & Body Works (BBWI), Abercrombie & Fitch (ANF), Manchester United (MANU) and Capri (CPRI) report their latest financial results before the bell, among others. Marvell, Salesforce (CRM), Synopsys (SNPS), Snowflake (SNOW) and HP (HPQ) post their earnings after the markets close.Gold edged down 0.4% to $4,484 per troy ounce, while bitcoin was up slightly at $75,878.

Dow JonesNasdaq CompositeS&P 500$ANF$BBWI$CPRI$CRM$DKS$DY$HPQ$MANU$MRVL$MU$PDD$SNOW$SNPS$ZS
Wire

Dick's Sporting Goods Likely to Post Q1 Comp Reacceleration, Morgan Stanley Says

Dick's Sporting Goods (DKS) is likely to post a modest re-acceleration in fiscal Q1 comps while momentum appears to be carrying into 2026 due to in-store experience improvements, collaboration with key brands and progress monetizing its media network, Morgan Stanley said.The company's sporting goods segment is anticipated to post a Q1 operating margins decline as brand support and demand creation costs increase ahead of the FIFA World Cup, the investment firm said in a Monday research note.Dick's Sporting Goods is scheduled to report Q1 results on May 27.The World Cup is expected to affect seasonality in 2026. Morgan Stanley expects stronger H1 comps alongside operating margin declines tied to higher marketing and brand support spending. The firm said it expects 2026 EPS of $14.33.Transportation costs present a modest near-term headwind but the Foot Locker segment continues to make good progress, according to the note.Morgan Stanley reiterated its overweight rating on the stock and price target of $250 per share.Shares of Dick's Sporting Goods were up 1% in Tuesday trading.Price: $212.50, Change: $+2.05, Percent Change: +0.97%

$DKS
Wire

Synchrony Financial, Dick's Sporting Goods Collaborate to Relaunch Credit Card Program

Synchrony Financial (SYF) and Dick's Sporting Goods (DKS) said Wednesday the companies collaborated to relaunch their credit card program.The program, which features an everyday 10% back in rewards on qualifying purchases at Dick's Sporting Goods, continues to have the private label Dick's credit card as well as Dick's Mastercard for athletes, both of which remain integrated with the ScoreCard loyalty program, according to a statement.For, existing cardholders, their accounts and ScoreCard rewards balances will automatically carry over, the company said.Price: $75.16, Change: $+1.38, Percent Change: +1.87%

$DKS$SYF

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