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Stock Market & Financial Investment News

News Breaks
July 9, 2014
18:09 EDTLL, HD, LOW, TTSLumber 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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September 5, 2014
16:45 EDTHDMarket ends week little changed after mixed economic data
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06:27 EDTHDHealthCare.gov insurance site breached by hacker in July, WSJ reports
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September 4, 2014
11:07 EDTHDHome Depot believes we are in 'moderate stage' of housing recovery
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11:05 EDTHDHome Depot says it has no plans to expand in Brazil or going back to China
Home Depot said it has no plans to go back to China because it has not figured out how to make money there. It also said it has no plans in expanding into Brazil even though he has looked into opportunities there. Home Depot said it sees the most opportunities in North America, and will focus its resources there.
11:02 EDTHDHome Depot maintains 2H14 outlook that it will be better than 1H14
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10:57 EDTHDHome Depot seeing high-spend pro customers are growing higher than others
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10:43 EDTHDHome Depot CEO: 3rd parties 'working around the clock' on breach investigation
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10:42 EDTHDHome Depot CEO: We have told everybody what we know on breach
CEO Frank Blake said the company found out Tuesday morning and chose the path of communicating the facts as they know them. Blake said the company felt it was best to communicate the facts quickly and transparently, but cannot answer all of the questions. He added that the company will continue to investigate the breach "intensely." Comments taken from Goldman Sachs Annual Global Retailing Conference.
10:30 EDTHDHome Depot in contact with Secret Service over alleged breach, Reuters reports
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08:25 EDTHDHome Depot could see less impact than Target from data breach, says BMO Capital
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September 3, 2014
17:33 EDTHDSymantec, FishNet enlisted by Home Depot for breach probe, Bloomberg says
Symantec (SYMC) and FishNet Security have been enlisted by Home Depot to help investigate a suspected data breach at the retailer, says Bloomberg Businessweek. Reference Link
17:09 EDTHDSymantec up almost 1% after Bloomberg reports working with Home Depot on breach
17:05 EDTHDHome Depot working with Symantec, FishNet on data breach, Bloomberg says
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14:33 EDTHDHome Depot data breach involves nearly all U.S. stores, Krebs reports
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12:19 EDTLLOptions with increasing implied volatility
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10:40 EDTHDAnalyst sees security 'spending frenzy' amid high-profile hacks
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10:00 EDTLLOn The Fly: Analyst Upgrade Summary
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09:15 EDTLLOn The Fly: Pre-market Movers
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08:37 EDTLLLumber Liquidators upgraded at Wedbush
As noted earlier, Wedbush upgraded Lumber Liquidators to Outperform from Neutral. The firm thinks that the worst of the company's difficulties are behind it, while its gross margins and sales should beat expectations next year. Target to $73 from $62.
07:11 EDTLLLumber Liquidators upgraded to Outperform from Neutral at Wedbush
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