Whether you’re investing in hyperscalers, neoclouds, semiconductors, or energy stocks, it’s all about AI. The AI buildout is driving growth, margin expansion, and higher stock prices. But I’ve been uncomfortable with the footing that trade is built on, given the debt even hyperscalers are taking out, rising interest rates, and lack of moats. So, I’ve focused on what I think are more durable businesses with a strategic advantage trading at a reasonable price. And the deals today are looking better than they have in years. More on that in a moment. Finding Value Themes are a big trend on the stock market today. Investors are chasing the story of the month and then moving on to the next story with little regard for whether a business is performing well or not. We saw this with nuclear and qua
[Earnings Recap]Dick’s Crashes 31%, Intuit Drops 10% — Guidance Is Killing the Rally
Tuesday’s earnings reactions had a clear theme: beating the quarter wasn’t enough if the outlook disappointed. Dick’s Sporting Goods suffered its worst drop in decades after cutting forecasts, while Intuit and Zoom both sold off after earnings beats were overshadowed by softer guidance. $Dick's Sporting Goods(DKS)$ -30.7% Dick’s Sporting Goods is a major U.S. retailer selling athletic footwear, apparel and sporting equipment, and it now also owns Foot Locker. Q2 adjusted EPS came in at $3.53, below Wall Street’s roughly $3.76 estimate. Revenue reached $5.59 billion, also missing expectations near $5.64 billion. Comparable sales rose just 2.1%, while Foot Locker comps fell 3.6%. The bigger problem was the outlook. Dick’s cut full-year adjusted EPS g
Why Dick’s Sporting Goods Must Prove That Foot Locker Can Earn Its Keep
$Dick's Sporting Goods(DKS)$ reports fiscal second-quarter results before the August 25 market open. The company’s core stores are performing well, but the acquisition of Foot Locker has transformed the investment case. Investors now need evidence that Dick’s can repair Foot Locker without weakening the margins and brand relationships that made its own business successful. For the first quarter ended May 2, Dick’s generated $5.16 billion of total sales, including $3.38 billion from its namesake business and $1.79 billion from Foot Locker. Comparable sales at the Dick’s segment increased 6%, with both transactions and average ticket contributing. Segment profit at Dick’s was approximately $361 million, while Foot Locker contributed only about $17 mi
May.25-29 Weekly: S&P 500 Extends 9-Week Rally While Oil Crashes and Inflation Refuses to Cool
Last Week's Recap 1. Weekly Market Digest: S&P 500's 9-Week Run, PCE Inflation Hot, Oil Crashes Pushing higher — S&P 500 ninth straight weekly gain; NASDAQ +2.4%, S&P +1.4%, Dow +0.9%. Price pressures — April PCE inflation at 3.8% annual rate (highest since May 2023); core PCE 3.3%. Oil pullback — Crude fell for a second straight week on U.S.-Iran talks, down nearly 10% for the week to ~$88; roughly 16% lower for May. May's momentum — NASDAQ +8.4%, S&P 500 +5.1%, Dow +2.8% in May, though short of April's double-digit gains. GDP downgrade — Q1 GDP revised down to 1.6% (from 2.0%) on weaker consumer spending and investment. Rising expectations — Analysts raised Q2 S&P 500 earnings estimates by 2.5% in April/May, per FactSet; results begin mid-July. East Asian rally — Sout
Physical retail stores are adapting to become "third places".Sephora adding hair salons in store.Barnes & Noble adding coffee shops & couches. $Lululemon Athletica(LULU)$ hosting in-store yoga classes.Feel, smell, touch, spend time...the experience.Legacy brick & mortar retailers turning into experience businesses, that just happen to sell something.The most asymmetric bet I see? $Dick's Sporting Goods(DKS)$ , with the new(ish) "House of Sport" offering.The House of Sport is a large-format, experiential retail concept inside stores.Turf fields, batting cages, golf simulators, climbing walls, even some ice rinks.Started this concept in '21, but it's just now starting to scale...and early data sh
$Dick's Sporting Goods(DKS)$$Nike(NKE)$$Under Armour Class A(UAA)$ 🏀👟🚀 DICK’S Sporting Goods Powers Up on Foot Locker Deal 🚀👟🏀 Goldman Sachs just boosted confidence in $DKS after the Foot Locker acquisition, with analyst Kate McShane setting a $274 PT (+25% upside). She cited global scale, stronger vendor leverage, and margin recovery potential at $FL. Shares spiked +5% on the news. 📊 Technical Roadmap 🔵 Support: $220–222 consolidation base (4H EMA cluster) 🔴 Resistance: $229–232 supply band (tested intraday) 🟠 Breakout trigger: $233+ clean close above Bollinger mid-zone 🟢 Upside targets: $240 (prior top), then $250 stretch toward GS PT 4H chart shows $DKS reclaim
DICK'S Sporting Goods, Inc., together with its subsidiaries, operates as a sporting goods retailer primarily in the United States. The company provides hardlines, includes sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear and accessories. It also owns and operates Sporting Goods, Golf Galaxy, Field & Stream, Public Lands, Going Going Gone!, and other specialty concept stores; and DICK'S House of Sports and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile application for video streaming, scorekeeping, scheduling, and communications. The company sells its product through e-commerce websites and mobile applications. The company was formerly known as Dick'S Clothing and Sporting Goods, Inc. and changed its name to DICK'S Sporting Goods, Inc. in April 1999. DICK'S Sporting Goods, Inc. was incorporated in 1948 and is headquartered in Coraopolis, Pennsylvania.
10-05
Beneficial Ownership Change
Form SCHEDULE 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend]