GoPro Inc. (Nasdaq: GPRO) tops Friday's hot stocks to watch list. Shares of the wearable camcorder maker soared another 20% intraday on the heels of its highly anticipated initial public offering on Thursday.
Also jumping today on earnings, analyst upgrades, and company news are a couple of athletic retailers, a home builder, an online travel outfit, and more...
GoPro Inc. (Nasdaq: GPRO) shares kept going higher Friday, rising more than 20% to a new high of $39.25 in morning trading on heavy volume. The maker of special portable video cameras, which allow athletes to capture jump shots, skateboard tricks, and wild surfboard rides, went public Thursday. After pricing 17.8 million shares at $24, the high end of the projected $21 to $24 range, shares finished its first day as a publicly traded company at $31.31, up $7.34, or 31%, on volume of 16.5 million shares.
Nike Inc. (NYSE: NKE) shares jumped 3% to $79.15 in morning trading after posting better-than-expected Q4 earnings after Thursday's close. The company's net income jumped to $698 million, or $0.78 per share, up from $690 million, or $0.76 per share, in the same quarter a year ago. Revenue rose 14% to $7.43 billion. Analysts were looking for earnings per share (EPS) of $0.75 on revenue of $7.34 billion. Susquehanna and Canaccord Genuity both boosted their price targets by $5 to $75 and $76 respectively. More upgrades and price boosts are expected following the robust quarter, which will likely send shares above their 52-week high of $80.25. Over the last two months, NKE shares are up 7.2%.
Yahoo! Inc. (Nasdaq: YHOO) shares climbed 2.1% to $34.37. The Internet giant has put in a bid of around $250 million to buy Fullscreen, a company that creates content for YouTube channels. Also giving YHOO shares a boost is renewed excitement over the upcoming Alibaba IPO. Yahoo holds a 9% stake in the Chinese e-commerce behemoth. Thursday, Alibaba announced the NYSE got its coveted listing. The exact debut date, expected sometime in August, is still not known. What is now known is Alibaba's stock symbol: Shares will trade under the ticker "BABA."
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Abercrombie & Fitch Co. (NYSE: ANF) shares rose 3.25% to $43.88 after Jefferies reiterated its "Buy" rating on the stock and upped its price target to $60 from $50. Jefferies said ANF is "well positioned" into the summer and back-to-school shopping season.
Expedia Inc. (Nasdaq: EXPE) shares climbed more than 1% to $78.38. The online travel company agreed to acquire Auto Escape Group from private equity fund Montefiore Investments. Some members of the European car-rental reservation firm's management will also join Expedia. Financial terms were not disclosed.
Finish Line Inc. (Nasdaq: FINL) shares ran up 3.3% to a 52-week high of $30.50 after reporting fiscal Q1 earnings that more than doubled year over year, as sales and margins expanded. The specialty sporting goods retailer saw Q1 profit surge to $12.4 million, or $0.25 per share, up from $5.1 million, or $0.10 per share, a year ago. Sales climbed 16% to $406.5 million. "We are very pleased with the strong start we delivered in the first quarter," said Glenn Lyon, chairman and chief executive officer (CEO). Finish Line also provided upbeat guidance for the rest of its fiscal year.
Intel Corp. (Nasdaq: INTC) rose some 1% to a 52-week high of $31 thanks to an upgrade from Sanford C. Bernstein. The firm raised its rating on INTC to "Market Perform" from "Under Perform." Shares of the chipmaker have gained more than 15% this month. In mid-June, INTC raised its outlook for the second quarter and full fiscal year, citing demand for personal computers by businesses that is much stronger than first anticipated.
KB Home (NYSE: KBH) shares rose better than 1% to $18.20 in morning trading after an earnings beat. Helped by higher home prices, the Los Angeles-based builder reported profit of $26.6 million in Q2, or $0.27 per share, swinging from a loss in the same quarter a year ago and handily beating analysts' expectations. Revenue rose to $565 million, up from $524 million. The consensus forecast was for EPS of $0.21 on revenue of $557 million. CEO Jeffery Mezger said the company is on track to meet its fiscal 2014 goals.
Keurig Green Mountain Inc. (Nasdaq: GMCR) shares climbed some 5% to $126.87 after Argus upgraded the coffee K-cup maker to "Buy" from "Hold" with a $140 price target. The firm expects solid revenue and earnings improvement through 2015.
Manitowoc Co. Inc. (NYSE: MTW) shares soared nearly 10% to $32.80 on more than four times its average daily volume before noon. Activist investor Relational Investors LLC disclosed an 8.5% stake in the manufacturer of cranes, related products, and foodservice equipment. Relational is calling for the company to spin off its foodservice equipment business.
Michaels Co. Inc. (Nasdaq: MIK) shares ticked up a few cents to $17.16 after its first day trading again as a public company. The arts and crafts retailer priced 27.8 million shares at $17, the low end of the $17 to $19 range, valuing Michaels at $3.45 billion. The IPO raised about $472 million. Michaels went private in 2006 when it was bought by Bain Capital and the Blackstone Group for $6 billion. The two firms continue to own 80% of Michaels after the IPO.
SunCoke Energy Inc. (NYSE: SXC) shares rose 3.7% to $21.46 after Goldman Sachs added the diversified coke and coal producer to its discriminating Conviction Buy List with a $27 price target. Goldman cited potential catalysts, which include buybacks, introduction of a dividend, tuck-in acquisitions, and a potential sale of the coal business, for the addition to its coveted list.
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