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Foot Locker's Shares Popped: What You Need to Know

By Anders Bylund | More Articles
November 28, 2011 | Comments (0)

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of athletic apparel retailer Foot Locker (NYSE: FL  ) jumped as much as 11.5% on fairly heavy volume today, led by a huge volume spike right at the opening bell.

So what: It's a double dose of good news: The NBA will actually play a season this year after coming to terms with its players' union, and Foot Locker's Black Friday sales came in strong. Analysts at UBS upgraded the stock to a buy with a $42 price target in light of this double whammy.

Now what: The stock is not far away from five-year highs, yet remains a far deeper value than rivals Dick's Sporting Goods (NYSE: DKS  ) and Hibbett Sports (Nasdaq: HIBB  ) . It's on par with Finish Line (Nasdaq: FINL  ) , but Foot Locker pays a far more generous dividend than any of these competitors. Income hunters and value hounds alike would be wise to give this sneaker specialist a closer look.

Interested in more info about Foot Locker? Click here to add it to My Watchlist.

The Steve Jobs Betrayal
You may already know that in the final year of his life, Jobs revealed a stunning betrayal — and told his biographer, "I will spend my last dying breath... and every penny of Apple's $40 billion in the bank to right this wrong." What was it that made Jobs so irate — and why could it make a few in-the-know investors some major profits over the coming months and years?

Enter your email address below to find out what made Jobs so enraged!

Fool contributor Anders Bylund holds no position in any of the companies mentioned. We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.


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Related Tickers

5/25/2012 4:03 PM
FL $32.42 Up +0.11 +0.34%
Foot Locker, Inc. CAPS Rating: **
HIBB $57.05 Up +0.78 +1.39%
Hibbett Sports, In… CAPS Rating: **
FINL $21.90 Up +0.08 +0.37%
The Finish Line, I… CAPS Rating: *
DKS $46.92 Down -0.58 -1.22%
Dick's Sporting Go… CAPS Rating: **

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