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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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July 25, 2014
11:56 EDTHDDelta Air Lines names Home Depot CEO Frank Blake to board of directors
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July 23, 2014
17:21 EDTLLLumber Liquidators calls lawsuit allegations 'flat-out false'
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July 17, 2014
14:05 EDTLLLumber Liquidators downgraded to Peer Perform from Outperform at Wolfe Research
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14:01 EDTHDHome Depot upgraded to Outperform from Peer Perform at Wolfe Research
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July 16, 2014
05:51 EDTLLStocks with implied volatility below IV index mean; LULU LL
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July 15, 2014
07:15 EDTLOWIIR Holdings to hold a conference
14th Annual Shopper Insights in Action Conference to be held in Chicago on July 14-16.
06:03 EDTLLStocks with implied volatility below IV index mean; LULU LL
Stocks with implied volatility below IV index mean; lululemon (LULU) 36, Lumber Liquidators (LL) 53 according to iVolatility.
July 14, 2014
08:11 EDTHDHome Depot management to meet with JPMorgan
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07:58 EDTHDMakerBot, Home Depot to bring MakerBot 3D printers to select stores
MakerBot, a subsidiary of Stratasys (SSYS), and The Home Depot (HD) announce a collaboration to bring MakerBot Replicator Desktop 3D Printers to customers on homedepot.com/makerbot and in 12 Home Depot stores in California, Illinois and New York beginning July 14. This is the first time The Home Depot has offered 3D printers for sale in its stores and will be a pilot program for MakerBot and The Home Depot.
06:05 EDTLL Stocks with implied volatility below IV index mean; LULU LL
Stocks with implied volatility below IV index mean; lululemon (LULU) 34, Lumber Liquidators (LL) 51 according to iVolatility.

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