On Wednesday, Shares of Facebook, Inc. (NASDAQ:FB), gained 2.53% to $96.44.
Facebook is entering the live-streaming arms race, on Wednesday adding live-streaming capabilities to its “Mentions” app. There is a twist though: only celebrity “influencers” can live stream, namely, along the likes of Dwayne “The Rock” Johnson. Normal people — the non-influential dregs that we are — will have to settle for Periscope or Meerkat if we want to live stream ourselves picking up an order of Taco Bell.
“Live is an immersive and authentic way to connect with the public figures you care about, in real-time,” wrote Vadim Lavrusik, a product manager at Facebook wrote in a blog post Wednesday.
Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications.
Shares of Lumber Liquidators Holdings, Inc. (NYSE:LL), declined -27.72% to $13.27, during its last trading session.
Lumber Liquidators Holdings declared financial results for the second quarter and six months ended June 30, 2015.
Second Quarter Results
Net sales in the second quarter of 2015 were $247.9 million, a decrease of 5.8% from the second quarter of 2014, counting a comparable store net sales decline of 10.0% due to a 7.6% decrease in the number of customers invoiced and a 2.4% decrease in the average sale. The Company believes net sales were negatively influenced by unfavorable allegations surrounding the product quality of its laminates sourced from China in addition to its decision to suspend sales of such products, although a specific quantification of the impact was impracticable. The Company implemented aggressive promotional pricing during the quarter, which it believes partially offset the decrease in the number of customers invoiced. Non-comparable store net sales raised $11.1 million over the preceding year. The Company opened seven new stores during the second quarter of 2015.
Gross margin was 25.1% in the second quarter of 2015. Gross margin was influenced by certain planned reductions in retail prices, further promotional pricing during the quarter to drive consumer traffic and changes in sales mix. Gross margin was also affected by a $4.9 million (200 basis points) accrual for a probable loss for countervailing and antidumping duties owed on certain shipments of engineered hardwood imported from China, about $4.9 million (200 basis points) in costs related to the Company’s indoor air quality testing program, counting an enhance of $1.9 million in the reserve, costs of $3.7 million (150 basis points) related to the Company’s decision to phase out a noteworthy portion of tile flooring and related accessories and a $1.5 million (59 basis points) charge related to the Company’s decision to discontinue certain vertical integration initiatives. Gross margin in the second quarter of 2014 was 40.4%.
Lumber Liquidators Holdings, Inc., together with its auxiliaries, operates as a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories.
Finally, The Allstate Corporation (NYSE:ALL), ended its last trade with 0.26% gain, and closed at $62.50.
The Allstate Corporation will donate up to $200,000 to the Tom Joyner Foundation as part of the company’s Quotes for Education (QFE) program to support current and future generations of students attending Historically Black Colleges and Universities (HBCUs). Between August 1 and November 30, 2015, Allstate will donate $10 per quote for every person who receives an insurance quote from a participating Allstate agent and mentions “Quotes for Education,” or quotes online at www.allstate.com/HBCU.
Funds raised through the program will be given to the Tom Joyner Foundation and earmarked for general scholarship funds to assist students attending HBCUs. Additionally, for the fourth year, HBCU supporters will have the chance to cast their vote on www.allstate.com/HBCU for the HBCU of their choice to receive an additional $50,000 in scholarship funding from Allstate.
The Allstate Corporation (ALL) is the nation’s largest publicly held personal lines insurer, protecting about 16 million households from life’s uncertainties through auto, home, life and other insurance offered through its Allstate, Esurance, Encompass and Answer Financial brand names.
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