Traders Flee These 10 Stocks Today

2. DICK’S Sporting Goods, Inc. (NYSE:DKS)

Dick’s Sporting Goods tumbled by 14.58 percent on Thursday—a third day—to close at $179.05 apiece following the release of its preliminary earnings results and news that it would acquire Foot Locker, Inc. (NYSE:FL) for $2.4 billion.

In a statement, DICK’S Sporting Goods, Inc. (NYSE:DKS) said it expects to report sales growth of 4.5 percent and earnings per diluted share of $3.24.

Meanwhile, the company announced that it had entered into a definitive merger agreement to acquire Foot Locker at a price of $24 apiece.

It also offered shareholders the option to convert their Foot Locker, Inc. (NYSE:FL) shares to 0.1168 of Dick’s common stock.

The transaction is subject to regulatory and shareholders’ approval, as well as other customary closing conditions. The companies expect to close the transaction in the second half of 2025.