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Stock Market & Financial Investment News

News Breaks
July 9, 2014
18:09 EDTHD, TTS, LL, LOWLumber Liquidators plummets after cutting full-year outlook
Shares of hardwood flooring and accessories retailer Lumber Liquidators (LL) are sinking in after-hours trading after the company cut its fiscal 2014 outlook. It also forecast second quarter results far below analysts' consensus estimates. WHAT'S NEW: After the bell, Lumber Liquidators forecast Q2 earnings per share of 59c-61c, far short of the consensus estimate of 90c. Q2 sales came in at $263.1M, also well below estimates of $303.21M. Comparable store sales decreased 7.1% for the quarter, and the company expects gross margin in Q2 to contract year over year. WHAT'S NOTABLE: Due to the weak Q2 performance, the company cut its FY14 EPS view to $2.65-$3.00 from $3.25-$3.60, versus consensus of $3.34. It also lowered its FY14 revenue outlook to $1.05B-$1.1B from $1.15B-$1.2B, versus consensus of $1.16B. It forecast comparable store net sales in the low single digits, either positive or negative, compared to its previous view of an increase ranging from mid to high single digits. It sees opening a total of 33 to 37 new store locations in the expanded showroom format, down from the previous view of 35 to 40. CEO Lynch said, "A number of the factors weighing on our second quarter results are likely to continue in the second half of 2014. While we believe the third quarter may be weaker than we originally anticipated, we have a strong sense of urgency and we expect to regain traction to deliver operating margin expansion in the second half and in coming years." PRICE ACTION: In evening trading, Lumber Liquidators fell $13.52, or 19.2%, to $56.90 on heavy trading volume. OTHERS TO WATCH: Other companies in the flooring space include Tile Shop (TTS), down 5%, Home Depot (HD), down 1%, and Lowe's (LOW), down 1.8%.
News For LL;HD;LOW;TTS From The Last 14 Days
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December 16, 2014
09:59 EDTLOW, HDOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
07:06 EDTLLLumber Liquidators initiated with a Buy at Nomura
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07:05 EDTHDHome Depot initiated with a Neutral at Nomura
Target $110.
07:05 EDTLOWLowe's initiated with a Neutral at Nomura
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December 12, 2014
08:20 EDTLOWLowe's price target raised to $75 from $70 at RW Baird
Baird raised its price target on Lowe's to $75 from $70 following its analyst day to reflect the company's increasingly synchronized internal and external organization. The firm noted the company delivered a three year outlook which included upside to Street estimates next year. Baird reiterated its Outperform rating on Lowe's shares.
07:48 EDTLOWLowe's analyst day supports investment case, says UBS
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07:35 EDTHD, LOWLowe's outlook has improved, says Oppenheimer
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07:25 EDTLOWLowe's price target raised to $76 from $70 at JPMorgan
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December 11, 2014
10:28 EDTLOWLowe's says business is "sound," brand "strong"
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06:09 EDTLOWLowe's CEO sees Return on Invested Capital reaching 19% by 2017
Robert A. Niblock, Lowe's chairman, president and CEO stated, "The housing market and broader economy are recovering just as our transformation is gaining momentum." Robert F. Hull, Jr., Lowe's CFO, commented, "We continue to generate solid cash flow and have exciting opportunities ahead of us. Return on Invested Capital is expected to reach approximately 19% by 2017, an increase of almost 500 basis points over the next three years."
06:05 EDTLOWLowe's sees FY14 EPS about $2.68, consensus $2.67
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December 10, 2014
08:49 EDTHDHome Depot sees FY14 EPS $4.54, consensus $4.49
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December 9, 2014
10:48 EDTLOWLowe's volatility elevated into analyst and investor meeting
Lowe's December call option implied volatility is at 24, January is at 19, April is at 20; compared to its 26-week average of 21 according to Track Data, suggesting large near term price movement into a company hosted analyst and investor meeting to be held on December 11.
December 8, 2014
12:04 EDTLOWLowe's to host analyst and investor meeting
Analyst and Investor Meeting to be held on December 11 at 10 am. Webcast Link

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