On Friday, Dicks Sporting Goods Inc (NYSE:DKS)’s shares declined -0.62% to $52.86.
Deutsche Bank Analyst Mike Baker said that the outlook for Dicks Sporting Goods (DKS) is a highlight in an otherwise dismal retail sales climate. Since February, retail sales grew just 2.8 percent, contrast with a 3.8 percent growth last year. This puts “retail on pace for the weakest enhance since the recession year of 2009.”
Yet despite this challenged climate, sporting goods sales have raised around 5.8 percent - up from just 0.2 percent growth at this point last year and the fastest pace since 2012. “Sporting goods is one of the few retail categories to be performing better this year as compared to last year,” the note said.
Specifically, golf seems to be having resurgence. After two years of declines in 2013 and 2014, U.S. golf rounds through April gained 2.2 percent.
According to Baker, this faster growth will assist Dicks Sporting Goods post strong Q2 sales. The analyst reaffirmed Deutsche Bank’s Buy rating and $63 price target. That price target reflects roughly 17 percent upside from current prices.
Dick’s Sporting Goods, Inc. operates as a sporting goods retailer primarily in the eastern United States. The company provides hardlines, counting sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear products and accessories.
Tenet Healthcare Corp (NYSE:THC)’s shares gained 1.15% to $52.67.
Tenet Healthcare Corp (THC) accomplished its formerly declared joint venture transaction with Welsh, Carson, Anderson & Stowe that combines the short-stay surgery and imaging center assets of Tenet and United Surgical Partners International (“USPI”) to create the leading U.S. short-stay surgery platform.
As contemplated in the original agreement declared on March 23, 2015, Tenet contributed its interest in 49 ambulatory surgery centers and 20 imaging centers to the joint venture and refinanced about $1.5 billion of existing USPI debt, which will be allocated to the joint venture through an intercompany loan. Tenet also made an about $404 million payment to pre-existing USPI shareholders to align the respective valuations of the assets contributed to the joint venture. Tenet owns 50.1% of the new USPI and will consolidate USPI’s financial results. Welsh Carson and the other existing shareholders in USPI own the remaining 49.9%. A pre-determined put-call structure provides a path to full ownership of USPI by Tenet over the next five years. Bill Wilcox will continue to lead USPI as chief executive officer and Brett Brodnax, president and chief development officer of USPI, will lead the company’s strategy and growth efforts. Kyle Burtnett, senior vice president for outpatient services at Tenet, will join USPI as president of ambulatory services and take on the additional role of chief integration officer for the new venture.
Tenet Healthcare Corporation, a healthcare services company, primarily operates acute care hospitals and related healthcare facilities in the United States. It operates through two segments, Hospital Operations and Other, and Conifer. The company’s general hospitals offer acute care services, operating and recovery rooms, radiology services, respiratory therapy services, clinical laboratories, and pharmacies.
At the end of Friday’s trade, Pioneer Energy Services Corp (NYSE:PES)‘s shares dipped -5.53% to $6.15.
Pioneer Energy Services Corp (PES) declared that the Company’s senior administration will take part in the GHS 100 Energy Conference to be held from June 22-24, 2015 in Chicago.
Pioneer Energy Services Corp., through its auxiliaries, provides drilling services and production services to oil and gas exploration and production companies in the United States and Colombia. The company’s Drilling Services Segment provides contract land drilling services in Texas, North Dakota, Utah, Appalachia, and Colombia. As of February 1, 2015, this segment operated a fleet of 47 drilling rigs.
Oshkosh Corporation (NYSE:OSK), ended its Friday’s trading session with -0.24% loss, and closed at $45.70.
The U.S. Army has awarded Oshkosh Defense, LLC, an Oshkosh Corporation (OSK) company, a five year requirements contract to recapitalize its Family of Heavy Tactical Vehicles (FHTV). Oshkosh will bring the Army’s fleet of Heavy Expanded Mobility Tactical Trucks (HEMTT) and Palletized Load Systems (PLS) to the latest model configuration and the same zero-mile, zero-hour condition as new production vehicles.
Overall, the contract’s potential value is $780 million for the recapitalization of an estimated 1,800 FHTVs, in addition to the production of about 1,000 trailers. All work performed under the contract will be accomplished in Oshkosh, Wisconsin, with deliveries occurring from 2015 to 2019.
Through recapitalization, heavily used vehicles are returned to Oshkosh, stripped to the frame rails and completely rebuilt to like-new condition. Recapitalized vehicles are assembled on the same production line as new vehicles, and put through the same extensive performance tests and inspection procedures as new vehicles. The vehicles also receive the latest technology and safety upgrades and are delivered with a new bumper-to-bumper warranty.
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. Its Access Equipment segment offers aerial work platforms and telehandlers used in construction, agricultural, industrial, institutional, and general maintenance applications. This segment also offers towing and recovery equipment, and carriers and wreckers; and installs equipment and sells chassis and service parts, in addition to offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements. Its Defense segment manufactures severe-duty, heavy, and medium-payload tactical trucks for the department of defense, counting hauling tanks, missile systems, ammunition, fuel, troops and cargo for combat units, and light-payload tactical vehicles.
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