Why The Finish Line, Inc. Stock Popped 44.4% in September
Shares of The Finish Line Inc. (NASDAQ: FINL) rose 44.4% in September, according to data from S&P Global Market Intelligence, after the athletic footwear retailer not only posted better-than-expected fiscal second-quarter results, but also benefited from speculation that it could be an acquisition target.
Regarding the latter, shares of Finish Line popped as much as 14% on Sept. 22, 2017, which was the first trading day after it confirmed that its quarterly revenue had declined 3.3% year over year to $469.5 million, and translated to adjusted earnings from continuing operations of $4.8 million, or $0.12 per share. Those results may not look impressive at first glance, but they also held up well to Finish Line's guidance, which called for roughly the same revenue to result in earnings per share in the range of $0.08 to $0.12.
IMAGE SOURCE: THE FINISH LINE.
Source: Fool.com
