Market Updates
Google Parent to Invest $500 M in JD.com, JD Sports Acquires Finish Line
Mukesh Buch
18 Jun, 2018
New York City
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Canada Goose soared on long-term outlook. The Finish Line and the U.K.-based JD Sports completed their merger. JD.com and Alphabet announced a strategic partnership.
[R]12:20 PM New York City, New York – Canada Goose soared on long-term outlook. The Finish Line and the U.K.-based JD Sports completed their merger. JD.com and Alphabet announced a strategic partnership.[/R]
Tollbooth Index increased 37.89 or 0.3% to 15,500.76 but for the year-to-date soared 12.7%.
Earnings Review
A10 Networks ((ATEN)) jumped 3.1% or 21 cents to $6.75 ahead of the scheduled earnings results after the close today.
Canada Goose Holdings Inc ((GOOS)) soared 7.2% or $4.39 to $65.41 after Canada-focused premium outerwear manufacturer and retailer said revenues in the fourth-quarter ending in March surged 144% from a year ago to $124.8 million.
Net in the quarter swung to profit $6.6 million or 7 cents per diluted share from a loss of $23.3 million or 23 cents in the same quarter last year.
The retailer forecasted revenues growth in the next three fiscal years to jump 20% and operating margin of about 26%.
The Finish Line, Inc ((FINL)), the specialty retailer and the U.K.-based sports-fashion retailer JD Sports Fashion Plc announced today that they had completed their merger and the retailer now becomes wholly-owned subsidiary of JD Sports.
JD.com, Inc ((JD)) increased 1.8% or 77 cents to $44.37 after China-based online retailer and Alphabet Inc, the parent of popular search engine Google, today announced a strategic partnership and Google will invest $550 million.
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