Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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Dec 5 9:30 AM EST

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From: richardred	3/8/2007 2:00:14 PM
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Putting KTO on the watch list today. Warren just loved Russell Corp and Nike needs to broaden thier sporting goods line. Besides Dick's has to much power from consolidation. Will suppliers fight back by doing the same? K2 Shares Jump After Posting 4Q Profit Thursday March 8, 1:11 pm ET K2 Shares Rise After 4Q Profit Swing and Sales Increase; Analysts Look Ahead to Warmer Weather NEW YORK (AP) -- Analysts on Thursday said future growth for sporting goods maker K2 Inc. may lie in its non-winter merchandise following strong fourth-quarter results. SunTrust Robinson Humphrey analyst William Chappell noted that despite unseasonably warm weather earlier in the winter, the company was able to have a successful quarter with hardgood ski sales up 23 percent from last year. Now he said, investors should look ahead to non-winter sports, which account for 70 percent of the company's sales. "With the ski season virtually over, we believe investors should focus on the solid momentum K2 is building across all of its businesses," Chappell wrote in an analyst note. KeyBanc Capital Markets analyst Brian M. Rayle said in a note to investors that although K2 expects another slow ski season in 2007, the company should be able to stay on top of the sporting goods industry with strong future sales. "We believe K2 should be able to continue expanding sales from acquisitions as well as from further penetration in its existing retail base, particularly among larger customers," he wrote. Late Wednesday, the retailer said it swung to a profit of 20 cents per share compared with a loss of $5.01 per share in the prior-year period. Adjusted income for the quarter totaled 25 cents per share -- three cents shy of Wall Street's expectations. A 9 percent sales rise fueled the profit swing. The company credited new products such as alpine skis and high performance baseball gloves for the increase. Shares of K2 rose 64 cents, or nearly 6 percent, to $12.10 in afternoon trading on the New York Stock Exchange. biz.yahoo.com

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