Fitness financials: Nautilus tops list of biggest price decliners on NYSE, plus Winmark, Brunswick, Forzani, Finish Line

Nautilus topped a list of the biggest price decliners on the NYSE, Winmark posted a Q2 revenue increase, Brunswick said it would offer an inventory finance program in Latin America, Forzani completed an issuer bid, and Finish Line declared a dividend and authorized a stock repurchase program.
Author:
Updated:
Original:

Nautilus tops list of biggest price decliners on NYSE

Shares of Nautilus (NYSE: NLS) dropped July 21 after a Wedbush Morgan Securities analyst downgraded the company, citing high materials costs, low customer spending and his belief that previously announced cost-cutting measures are already factored into the stock price.

Analyst Rommel Dionisio downgraded the stock to "Hold" from "Buy." He maintained his price target of $6.

Nautilus is more sensitive to rising freight costs and raw materials prices than other companies selling discretionary items because of its use of metal and its need to ship large, heavy equipment, Dionisio said in a note to clients. But given a recent upturn in the stock, he added that much of the expected savings have already been priced into the stock.

The company's new CEO has said he will unveil a restructuring program during his second-quarter earnings call, which analysts believe will include staff cuts and other cost-saving initiatives.

Its second-quarter earnings results are scheduled for July 31.

The company topped the list of biggest percent price decliners on the New York Stock Exchange. Shares fell $0.96, or 15.8 percent, to close at $5.11, after having a day's low of $4.44 in afternoon trading. Over the past year, the stock has traded in a range of $3 to $10.41.



Winmark posts Q2 revenue increase


Winmark Corp. (Nasdaq: WINA), franchise parent of Play It Again Sports, said its second-quarter revenue increased to $8.7 million versus $7.5 million last year.

Its net income for the quarter ended June 28, 2008, of $930,500, or $0.17 per share diluted, compared to net income of $430,500, or $0.08 per share diluted, in 2007.

"Our franchise business continues to perform well in the current economic environment while our leasing business has some different challenges," John L. Morgan, Winmark's chairman and CEO, said in a statement. "While trying to grow our leasing portfolio, we need to be cautious with our credit decisions until the economy improves."

Brunswick to offer inventory finance program in Latin America

Brunswick Corporation (NYSE: BC) with GE Capital Solutions will offer an inventory finance program for Latin America.

Brunswick and GE Capital Solutions, Commercial Distribution Finance (CDF) began working together in 2003 with the goal of providing a stable, long-term source of wholesale floor plan financing for Brunswick boat dealers through a joint venture, Brunswick Acceptance Company (BAC). The new Latin American program will allow GE Capital Solutions and Brunswick to offer financing to the Brunswick dealer base in this region for the first time.

The inventory-financing program was designed to provide financing that more closely matches a dealer's sales cycle, enabling a dealer to carry the increased levels of inventory required to meet customers' needs in Latin America.

Forzani completes issuer bid

The Forzani Group Ltd. (TSX: FGL) said it has purchased, and returned to treasury for cancellation, more than 2.6 million Class "A" common shares. All purchases were made through the facilities of the TSX.

The bid was put in place because the company said it believes that the common shares were undervalued in the market and are a good investment for the company at current and recent prices. Presently, the company has more than 30.4 million common shares outstanding.

The Forzani Group is Canada's largest national retailer of sporting goods, and its stores include Sport Chek, Coast Mountain Sports, Sport Mart, National Sports, Sports Experts, The Fitness Source and Athletes World.

Finish Line declares dividend, stock repurchase program

The Finish Line (Nasdaq: FINL) said its board of directors has reinstated the quarterly cash dividend program with a 20-percent increase to $0.03 per share of Class A and Class B common stock. The first quarterly cash dividend will be payable on Sept. 15 to shareholders of record on Aug. 29.

The company's board also authorized a new stock repurchase program to repurchase up to 5 million shares of the company's Class A common stock, or approximately 9 percent of the aggregate Class A and Class B common stock outstanding. Under the stock repurchase program, Finish Line may purchase shares through Dec. 31, 2011. The company said that adoption of the repurchase program could be a viable use of excess cash.

For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.

Related

Fitness financials: Nautilus tops NYSE ‘price gainer’ list for second time in a week, plus Big 5, Dick’s, Finish Line

Nautilus tops NYSE ‘price gainer’ list for second time in a week For the second time in less than a week, Nautilus (NYSE: NLS) was among the New York Stock Exchange’s “biggest percentage price changers.” On Jan. 21, it closed the day at $2.59, up $0.19, or 7.92 percent, on a ...read more

Outdoor financials: Sport Chalet tops list of biggest price decliners on Nasdaq

Sport Chalet tops list of biggest price decliners on Nasdaq Sport Chalet's (Nasdaq: SPCHA & SPCHB) class B stock topped the list of biggest percentage price decliners among common stocks on the Nasdaq Stock Market. During trading on Oct. 14, Sport Chalet shares lost $1.19 to ...read more

Fitness financials: Nautilus among NYSE’s biggest price decliners, plus Nike, Cybex

Nautilus among NYSE’s biggest price decliners Nautilus (NYSE: NLS) topped the list of “biggest percentage price decliners” among common stocks on the New York Stock Exchange. On Dec. 21, it closed at $2, down $0.18 or 8.26 percent compared to Dec. 18, on a volume of more than ...read more

Fitness financials: Life Fitness parent among biggest decliners on NYSE, plus Winmark

Life Fitness parent among biggest decliners on NYSE Brunswick (NYSE: BC), parent of Life Fitness and Hammer Strength, was among the 10 biggest percentage decliners on the New York Stock Exchange on July 14. It dropped $0.92, or 6.15 percent, to close at $14.05. Winmark reports Q2 ...read more

Fitness financials: Town Sports tops 'biggest price decliners' list on Nasdaq, plus Hibbett Sports

Town Sports tops 'biggest price decliners' list on Nasdaq No foolin': Town Sports International Holdings (Nasdaq: CLUB) topped the list of "biggest percentage price decliners" among common stocks on the Nasdaq Stock Market on April 1. Its shares shed $0.72, or 24.08 percent, to ...read more

Fitness financials: Nautilus among 'biggest percentage price decliners'

Nautilus among 'biggest percentage price decliners' Nautilus (NYSE: NLS) topped the list of "biggest percentage price decliners" among common stocks on the New York Stock Exchange on Oct. 12. It shed $0.17, or 7.52 percent, to close at $2.09. Volume was nearly 635,000. The ...read more

Fitness financials: Brunswick to withdraw NYSE Arca listing, retains NYSE listing, plus Forzani

Brunswick to withdraw NYSE Arca listing, retains NYSE listingBrunswick Corp. (NYSE: BC), parent of Life Fitness, said it plans to voluntarily withdraw the listing of its common stock from NYSE Arca, formerly the Pacific Stock Exchange. The company said its common stock would ...read more

Fitness financials: Brunswick on NYSE largest percentage decliners list again

Brunswick on NYSE largest percentage decliners list again For the second time in one week, Brunswick (NYSE: BC), parent of Life Fitness and Hammer Strength, was one of the top 10 largest percentage decliners on the New York Stock Exchange. On July 16, it fell 10.6 percent, or ...read more

Fitness financials: Brunswick hits 25-year low after Moody's downgrade, plus Winmark, Iconix, Finish Line, Nike

Brunswick hits 25-year low after Moody's downgrade Shares of Brunswick Corp. (NYSE: BC) sank to a 25-year intraday low on Oct. 20 after Moody's Investor Services cut the manufacturer's debt ratings to junk status. In addition to its boat portfolio, the company also owns equipment ...read more