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July 9, 2014
17:38 EDTLLLumber Liquidators says 'clearly disappointed' in Q2 performance
On Lumber Liquidators' conference call update its Q2 outlook, management said, "We are clearly disappointed in our second quarter performance." Comparable store sales were far short of the company's original expectations, due primarily to a low number of customers invoiced, and to a lesser extent, a lower average sale. Gross margin was adversely impacted by net shifts in the sales mix, and greater discounting at the point-of-sale. Management said net sales were adversely impacted by weak customer demand for wood flooring and constrained inventory in certain key merchandise categories. They pointed to Asia, and China specifically as the biggest challenge as a source country.
News For LL From The Last 14 Days
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February 26, 2015
07:57 EDTLLLumber Liquidators price target raised to $68 from $65 at Stephens
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07:15 EDTLLLumber Liquidators price target lowered to $52 from $59 at Jefferies
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06:24 EDTLLLumber Liquidators downgraded to Hold from Buy at Evercore ISI
05:49 EDTLLStocks with implied volatility movement; LL DAR
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February 25, 2015
16:38 EDTLLOn The Fly: Closing Wrap
The Wall Street averages had a relatively quiet open and remained in a tight range for most of the session. The market moved to the high end of its range by mid-afternoon, which pushed the Dow and S&P to new highs and the Nasdaq ever closer to its 5,000 level. There was little momentum behind the move and the averages eventually faded, closing nearly unchanged for the session. ECONOMIC EVENTS: In the U.S., new home sales slipped 0.2% to a 481K annual pace in January, which was better than the expected 2.3% decline to a 471K rate. The DOE petroleum inventory report showed crude stockpiles grew by 8.4M barrels in the week of February 20, versus expectations for a 4M barrel increase. In China, HSBC and Markit's flash purchasing managers' index for February came in at 50.1, which was above the consensus outlook of 49.7 and represented a four month high. COMPANY NEWS: Shares of Hewlett-Packard (HPQ) dropped $3.82, or 9.92%, to $34.67 after the PC, printer and server maker reported lower than expected Q1 revenue and cut its FY15 EPS view and free cash flow outlook, citing separation costs and foreign exchange headwinds. However, analysts at Citigroup, Bernstein, and Brean Capital all recommended buying the stock on weakness in separate notes to investors today. Later in the day, Bloomberg reported, citing sources, that HP is in talks to make its biggest acquisition in several years by potentially acquiring Aruba Networks (ARUN), sending shares of the WiFi equipment maker up $3.86, or 21.0%, to $22.24. Shares of Aruba competitor Ruckus Wireless (RKUS) also gained 66c, or 5.89%, to $11.86 after Bloomberg's report on potential M&A in their space... Chesapeake Energy (CHK) slid $1.90, or 9.56%, to $17.98 after reporting worse than expected earnings amid the recent plunge in energy prices and announcing lower capital spending plans for 2015. MAJOR MOVERS: Among the notable gainers was Benefitfocus (BNFT), which jumped $10.85, or 47.24%, to $33.82 after reporting Q4 earnings and disclosing that Marsh & McLennan (MMC) subsidiary Mercer took a 9.9% stake in the company. Also higher was SFX Entertainment (SFXE), which gained $1.09, or 29.46%, to $4.79 after the company’s Chairman and CEO, Robert Sillerman, offered to acquire all of the outstanding shares of common stock of the company not already owned by him for $4.75 per share in cash. SFX Entertainment confirmed that it received the proposal and established a special committee to review and negotiate the nonbinding offer. Among the noteworthy losers was Lumber Liquidators (LL), which plunged $18.15, or 26.39%, to $50.63 after reporting Q4 earnings per share and revenue that missed consensus expectations, warning on its associated call that an upcoming "60 Minutes" piece may cast the company in an unfavorable light, and disclosing in its annual report that the Department of Justice indicated in recent communications that it is contemplating seeking criminal charges under the Lacey Act. Also lower following their earnings reports were shares of Republic Airways (RJET), which fell $2.17, or 14.49%, to $12.81, and LendingClub (LC), which dropped $3.14, or 13.28%, to $20.51. INDEXES: The Dow added 15.38, or 0.08%, to 18,224.57, the Nasdaq slipped 0.98, or 0.02%, to 4,967.14, and the S&P 500 dropped 1.62, or 0.08%, to 2,113.86.
14:33 EDTLLLumber Liquidators downgraded on negative publicity concerns at Piper Jaffray
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14:26 EDTLLLumber Liquidators downgraded to Neutral from Overweight at Piper Jaffray
12:31 EDTLLOn The Fly: Midday Wrap
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11:34 EDTLLLumber Liquidators puts active on wide price movement
Lumber Liquidators March 65 and 70 calls are active on total call volume of 17K contracts (15K puts). March call option implied volatility is at 77, March is at 57, May is at 66; compared to its 26-week average of 52 according to Track Data. Active volume suggests traders taking postions for continued large near term price movement.
11:12 EDTLLLumber Liquidators says 60 Minutes report may air this weekend
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10:59 EDTLLLumber Liquidators says 'very early in process' with DOJ
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10:57 EDTLLLumber Liquidators sinks after warning of 60 Minutes piece, DOJ charges
Shares of Lumber Liquidators are sinking after the retailer of hardwood flooring warned on its Q4 earnings call that an upcoming "60 Minutes" piece may cast the company in an unfavorable light. In addition, the company disclosed in its annual report this morning that the Department of Justice indicated in recent communications that it is contemplating seeking criminal charges under the Lacey Act. Shares of Lumber Liquidators are down $8.61, or 13%, to $60.17 in early trading.
10:47 EDTLLLumber Liquidators says DOJ contemplating Lacey Act charges
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10:43 EDTLLLumber Liquidators says 60 Minutes to cast company in 'unfavorable light'
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10:37 EDTLLOptions with decreasing implied volatility
Options with decreasing implied volatility: FUEL GREK NLNK HLSS SLXP LL VNDA AWAY DWA TRUE
07:05 EDTLLLumber Liquidators sees increases over 2014 to moderate for remainder of Q1
Sees Q1 comparable store net sales to increase in mid to high single digits. The company expects to incur $2.7M of incremental costs to transition and consolidate existing operations, including $1.5M of transportation costs and $1.2M of SG&A expenses.
07:04 EDTLLLumber Liquidators says stronger demand continued into 2015
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07:03 EDTLLLumber Liquidators sees FY15 EPS $2.50-$3.00, consensus $2.96
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07:01 EDTLLLumber Liquidators reports Q4 EPS 64c, consensus 76c
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February 19, 2015
06:45 EDTLLLumber Liquidators volatility elevated into Q4 and outlook
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