Breakout

Nike dominates, Michaels begins trading, GoPro soars again

Jeff Macke
Breakout

Time for your daily dose of trending tickers, the stocks that you're tracking as measured by Yahoo Finance ticker searches:

Score one for the winged Goddess of Victory! Nike (NKE) shares are up 2% after the company opened a can of whoop butt on earnings estimates. The shoe and apparel maker's printed 78-cents of EPS on $7.43 billion in revenue, 3-cents and 100-million better than analysts had expected. The company obviously spent like crazy on that little soccer tournament thing going on in Brazil but it clearly paid off for investors. Nike shares are more than twenty-five percent higher over the last twelve months.

Despite dancing crayons and a big, weird plushie ball of yarn at the Nasdaq, arts and crafts retailer Michaels (MIK) is trading just about flat after coming public today. Priced at the bottom of its $17 to $19 range Michaels raised $471 million. The company was taken private by Bain and Blackstone (BX) in 2006. Blackstone has been taking advantage of the robust IPO and secondary market and exiting a fist-full of consumer related holdings over the last few months. In addition to Michael's the P.E. group has reduced its stakes in hotel chain La Quinta (LQ), Hilton (HLT) and theme park operator Sea World (SEAS).

It's a whole different story for GoPro (GPRO) up a stunning 25% and pushing $40 just a day after going public for $24. GoPro was the largest IPO for a consumer electronics company in 24 years and is now valued at over $5.75 billion, roughly seven times last year's revenues. Investors are clearly wagering on continued insatiable demand for rad selfie videos. At about forty-five times estimated 2015 earnings, GoPro is much more expensive than companies like Apple (AAPL) and it already commands more than one-third the market cap of Sony (SNE).

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