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Why Dick's Sporting Goods Stock Surged More Than 10% Today

TheMotleyFool

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Why Dick's Sporting Goods Stock Surged More Than 10% Today

Shares of Dick's Sporting Goods (NYSE: DKS) were up 10.8% as of 12:30 p.m. ET on Wednesday after the company reported earnings for the fiscal first quarter, which ended April 30.

The largest sporting goods retailer in the U.S. reported an 8.4% decline in comparable store sales and lowered its full-year guidance. The stock was originally down more than 18% in premarket trading, but value hunters swooped to the rescue.