NEW YORK (CNNMoney)
The Dow Jones Industrial Average, S&P 500 and Nasdaq are flat . The Dow and S&P are a tad lower while the Nasdaq is slightly higher. But there are still many high-profile companies making news. Here's what you need to know before you take off early on this summer Friday.
1. It's the shoes: Nike (NKE) and sneaker store chain Finish Line (FINL) both gained in early trading after the companies reported earnings and sales that surpassed Wall Street expectations.
Nike, up about 2% said in its earnings report that the best news is coming out of Europe, with 18% sales growth. And with all the focus on the World Cup in Brazil, it should come as no surprise that sales from the company's soccer segment were also up sharply. Finish Line is more than 3% higher.
Shares of Nike rival adidas (ADDDF) and Finish Line competitor Foot Locker (FOOT) also rose slightly after the market opened.
Related: Adidas vs. Nike at World Cup 2014
2. Big debuts -- Michaels IPO: Investors are lukewarm toward crafts retailer Michaels (MIK). It started trading Friday morning -- eight years after private equity firms Blackstone and Bain Capital took it private -- on the Nasdaq with the symbol "MIK". The company's shares priced at $17, raising $472 million for the company, and the stock is still hovering around the $17 price since trading began.
Shares in GoPro (GPRO), the sports-oriented camera maker, are up more than 16% Friday, even after yesterday's momentous 30% spike.
The biggest IPO news this week came out yesterday though, when Chinese e-commerce giant Alibaba chose to take what could be the U.S.'s largest-ever IPO to the New York Stock Exchange.
Related: Alibaba spurs tech-heavy Nasdaq to go with NYSE
3. BNP pares dividend: The Wall Street Journal is reporting that BNP Paribas (BNPQF), the French banking giant that's nearing a $9 billion settlement with the Justice Department, will be cutting its dividend by an unspecified amount because the payment will hurt its balance sheet. The Paris-listed shares of the bank rose a bit on the news.
Barclays (BCS), another big European bank in the spotlight because of a dark pool-related lawsuit from the New York Attorney General, is treading water after yesterday's 6.5% drop.
Related: NY Attorney General says Barclays failed to investors about "predators" in its dark pools
4. International markets: Asian stocks finished the day mixed, with Chinese and Indian stocks closing slightly higher. European markets were up in afternoon trading as well.
First Published: June 27, 2014: 9:58 AM ET
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