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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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April 13, 2015
06:54 EDTLLPiper calls Bull vs. Bear lunch on Lumber Liquidators a draw
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06:01 EDTLLStocks with implied volatility below IV index mean; LL SNDK
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April 10, 2015
19:49 EDTLOWLowe's management to meet with JPMorgan
Meetings to be held in East Rutherford, NJ on April 15 and in New York on April 16 hosted by JPMorgan.
15:54 EDTLLBamco lowers passive stake in Lumber Liquidators to 1.48% from 8.99%
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06:57 EDTLLPiper homeowner survey suggests Lumber Liquidators is recovering
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05:54 EDTLLStocks with implied volatility below IV index mean; LL SNDK
Stocks with implied volatility below IV index mean; Lumber Liquidators (LL) 72, SanDisk (SNDK) 40 according to iVolatility.
April 9, 2015
10:32 EDTLLOptions with decreasing implied volatility
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10:18 EDTLLLumber Liquidators participates in a luncheon meeting with Piper Jaffray
Luncheon Meeting with Management in New York on April 10 hosted by Piper Jaffray.
09:18 EDTLOW, HDBofA/Merrill retail analysts hold an analyst/industry conference call
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April 8, 2015
15:42 EDTLLLumber Liquidators senior managers knew about toxic laminate, Tilson says
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10:13 EDTLLLumber Liquidators invests $5M in Virginia finishing line
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10:08 EDTLLIcahn did look at Lumber Liquidators, not buying now, FBN reports
Carl Icahn took a look at Lumber Liquidators but is not buying the stock now, Charles Gasparino of Fox Business reports.
April 7, 2015
05:58 EDTLLStocks with implied volatility below IV index mean; LL WLL
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April 6, 2015
11:25 EDTLLLumber Liquidators near session highs, levels to watch
The shares are near the session high at time of writing, last at $34.80. The move up follows flooring tests commissioned by Raymond James. The firm upgraded the stock to Outperform today, with a $40 price target. Support is at $34.16.
11:20 EDTLLLumber Liquidators rises after Raymond James flooring tests trigger upgrade
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10:02 EDTLLOn The Fly: Analyst Upgrade Summary
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09:22 EDTLLOn The Fly: Pre-market Movers
HIGHER: Uniqure (QURE), up 44.2% following strategic collaboration with Bristol-Myers (BMY)... Cytori Therapeutics (CYTX), up 22.4% after Lorem Vascular receives regulatory clearance in China... Curis (CRIS), up 8.5% after FDA grants orphan drug designation to CUDC-907 for the treatment of Diffuse Large B-Cell Lymphoma... Capnia (CAPN), up 5.9% after being awarded a $220,000 NIH grant... Tesla (TSLA), up 3.8% after reporting first quarter deliveries up 55% to 10,030 cars... Ariad (ARIA), up 3.4% following approval of Iclusig in Canada... Lumber Liquidators (LL), up 3.1% after being upgraded to Outperform from Market Perform at Raymond James. LOWER: Magnum Hunter (MHR), down 8.9% after being downgraded to Hold from Buy at Wunderlich... Herbalife (HLF), down following CNBC report that federal law enforcement agencies contacted the company regarding its business practices... Qualcomm (QCOM), down 2.2% following a Wall Street Journal report that the Samsung (SSNLF) Galaxy S6 did not have a Qualcomm LTE modem... Skyworks (SWKS), down 2.1% after being downgraded to Equal Weight from Overweight at Stephens.
08:05 EDTLLLumber Liquidators trends normalizing, says Janney Capital
Janney Capital said Lumber Liquidators reported sales for March and Q1 showed there has clearly been improvement in recent weeks and that its sales trends appear to be normalizing. The firm noted that its checks suggest that the last week of March improved from the prior week. Janney added that discounting hurt the company's gross margins worse than it expected, but it believes management still made the right decision mid-term and long-term. The firm maintains its Buy rating and $47 fair value estimate on Lumber Liquidators shares.
06:43 EDTLLLumber Liquidators upgraded to Outperform from Market Perform at Raymond James
Raymond James upgraded Lumber Liquidators to Outperform with a $40 price target after commissioning tests on two Chinese laminated wood flooring products. The tests demonstrated safety as prescribed by the California Air Resource Board and were not deconstructed tests as reported in the 60 Minutes story. Raymond James expects Lumber Liquidators' near-term to be challenging but believes sales, earnings, shares will move higher longer-term.
06:11 EDTLLStocks with implied volatility below IV index mean; LL WLL
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