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January 2, 2013
11:38 EDTSKULSkullcandy slides following Jefferies downgrade
Shares of headphone and audio accessory maker Skullcandy (SKUL) declined in mid-morning trading after research firm Jefferies downgraded the stock two levels, to Underperform from Buy. Jefferies analyst Randal Konik said he has become more concerned about promotional activity and competition in the headphone market. Konik noted that the in-ear segment, which comprises over 60% of Skullcandy's total revenues, is under significant competitive pressure and this trend is expect to continue in the coming quarters. Additionally, the analyst is concerned that Skullcandy is losing market share. Though Konik expects the pressure on the company's margins will likely get worse before it gets better, he also believes Skullcandy's sales trends will remain solid and sees mid-teens sales growth in 2013. In mid-morning trading, Skullcandy slid $1.06, or 13.59%, to $6.73.
News For SKUL From The Last 14 Days
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July 31, 2014
16:20 EDTSKULSkullcandy raises FY14 EPS view to 22c-26c, consensus 19c
For FY14, the company still forecasts net sales to increase in the mid to high single digit percentage range over 2013 levels, consensus $225.37M.
16:19 EDTSKULSkullcandy sees Q3 EPS 2c-5c, consensus 6c
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16:18 EDTSKULSkullcandy reports Q2 EPS 6c, consensus 1c
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July 30, 2014
12:10 EDTSKULSkullcandy management to meet with Roth Capital
Meetings to be held in Philadelphia on August 5 and in Chicago on August 6 hosted by Roth Capital.
July 22, 2014
16:04 EDTSKULSkullcandy names David Raffone as Chief Sales and Revenue Officer
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