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MarketWatch MarketPulseMay 25, 2018
Hibbett Sports shares slide 10% premarket after earnings fall short of estimates
Shares of Hibbett Sports Inc. slid more than 10% Friday, after the company's first-quarter earnings fell short of estimates. The sports retailer said it had net income of $21.5 million, or $1.12 a share, in the quarter, up from $20.9 million, or 97 cents a share, in the year-earlier period. Sales fell 0.4% to $274.7 million from $275.7 million. The FactSet consensus was for EPS of $1.15 and sales of $277 million. Same-store sales fell 0.3%, compared with a FactSet consensus of up 1.0%. "Branded apparel was especially strong during the quarter with comparable store sales in the high single-digit range, while footwear and cleats were positive as well," Chief Executive Jeff Rosenthal said in a statement. "E-commerce sales continued to perform above expectations and represented approximately 7% of total sales for the quarter." The company is sticking with its fiscal 2019 EPS guidance of $1.65 to $1.95. The current FactSet consensus is $1.85. Shares have gained 42% in the year so far, while the S&P 500 has gained 2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseMay 25, 2018
PayPal stock rises after Stifel turns bullish
Shares of PayPal Holdings Inc. are up 1.3% in premarket trading Friday after Stifel analyst Scott Devitt raised his rating on the stock to buy from hold. Devitt's upgrade comes on the heels of the company's second-ever investor day, which took place Thursday in San Francisco. "We believe PayPal is still in the early stages of its transformation from a button/online checkout company to a global payments platform with a sizable addressable market opportunity," Devitt wrote. He highlighted management's commentary around consumer choice, a once-controversial decision by PayPal to no longer steer customers away from funding their transactions with payment methods that are relatively more expensive for PayPal, such as credit cards. The company said Thursday that even with consumer choice in place, 70% of users have a lower-cost funding method as their preference. Devitt raised his price target to $99 from $82. He'd been on the sidelines for a year. PayPal shares are up 60% over the past 12 months, while the S&P 500 has gained 13%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Google Business NewsMay 24, 2018
Mortgage interest rates 2018: Rates hit 7-year high, slow home sales - USA TODAY

USA TODAY


Rising mortgage rates are crimping home sales. The average 30-year fixed mortgage rate hit a new seven-year high of 4.66% the past week. Loadingā€¦ Post to Facebook. Mortgage interest rates 2018: Rates hit 7-year high, slow home sales Rising mortgageĀ ...
Mortgage rates have been ris

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