Insights about U.S. Stocks that landed in the Red-Zone during Wednesday’s trade, are depicted underneath:
Bob Evans Farms Inc (NASDAQ:BOBE)’s shares dwindled -22.27%, and closed at $46.36.
Bob Evans Farms, Inc. (BOBE), offered an update concerning a range of planned initiatives the Corporation has been evaluating. The Corporation also stated its financial results for the fiscal 2015 third quarter ended Friday, January 23, 2015.
Third-quarter fiscal 2015 commentary:
Chief Financial Officer Mark Hood said, “Our third-quarter results reflect improved net sales in both our Bob Evans Restaurants and BEF Foods business segments. The improvement in sales combined with lower sow costs and improved plant efficiencies at BEF Foods led to solid profit growth at BEF Foods in the third quarter. While Bob Evans Restaurants’ same-store sales raised 3.8 percent in the quarter, higher discounting, food, and labor costs resulted in a decline in the segment’s operating revenue, demonstrating the challenges we face in turning around performance. We have developed, and are implementing, a restaurant turnaround strategy anchored in farm-fresh food, improvement of our breakfast offering, and completion of the Broasted(R) Chicken platform rollout. We introduced a new restaurant menu late-February that, together with reduced discounting activity and an raised focus on breakfast, is predictable to mitigate food cost pressures starting in the fourth quarter.”
President, BEF Foods, Mike Townsley, said, “We had a strong quarter at BEF Foods with overall volume up 5.5 percent. Our side dish business, which had been negatively influenceed by a supplier dispute last year, grew 21.9 percent in the quarter. Our sausage volume declined 6.4 percent as sow costs remained relatively high early in the quarter and we maintained tight discipline over our trade spending. From a cost perspective, we continued to improve plant operations during the quarter as our plant network is now operating at higher efficiency levels than the preceding year period. However, we have identified and continue to execute upon opportunities to further improve operations. With a newly optimized plant network, significantly lower input costs, and a sales force empowered to planned ally employ trade spending to drive sales, we believe BEF Foods will quickly improve its margin structure and deliver a solid return on the noteworthy recent investments in our business.”
Bob Evans Farms, Inc. owns and operates full-service restaurants under the Bob Evans Restaurants brand name. At the end of the third fiscal quarter (January 23, 2015), Bob Evans Restaurants owned and operated 564 family restaurants in 19 states, primarily in the Midwest, mid-Atlantic and Southeast regions of the United States.
Lumber Liquidators Holdings Inc (NYSE:LL), declined -12.60%, and closed at $35.64, hitting new 52-week low of $35.40.
Lumber Liquidators Holdings, Inc. (LL), the largest specialty retailer of hardwood flooring in North America, recently declared that it plans to host a conference call and audio webcast on March 12, 2015, at 10:00 a.m. Eastern Time to provide a business update.
The Corporation also declared that it will not take part in the Raymond James’ Annual Institutional Investors Conference being held recently.
Robert M. Lynch, President and Chief Executive Officer, commented, “We regret that we are not attending the conference recently and apologize to our investors that planned to attend. We look forward to speaking with you next week regarding our business update.”
With more than 350 locations, Lumber Liquidators is North America’s largest specialty retailer of hardwood flooring. The Corporation features more than 400 top quality flooring varieties, counting solid and engineered hardwood, bamboo, cork, laminate and vinyl plank.
Veeva Systems Inc (NYSE:VEEV), dipped -21.32%, and closed at $25.72.
Veeva Systems Inc. (VEEV), declared its intent to attain the key opinion leader (KOL) business and products known as Qforma CrowdLink, a leading global solution for KOL data and services for life sciences’ brand, medical, and market access teams.
As part of the all-cash transaction, Veeva Systems will attain the outstanding equity interests of Mederi AG, a BelHealth Investment Partners portfolio corporation, in addition to selected other KOL-related business assets of Qforma, Inc. and other associated entities.
Financial terms of the transaction are unrevealed, though Veeva Systems does not anticipate the attainment will have a material influence on the financial results for its current fiscal year ending January 31, 2016. The attainment is subject to various customary closing conditions and is predictable to be complete in early 2015. Upon close, Veeva Systems plans to retain the employees presently supporting the Mederi and Qforma KOL business.
Veeva is headquartered in the San Francisco Bay Area, with offices in Europe, Asia, and Latin America. Veeva Systems Inc. is a leader in cloud-based software for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva has more than 275 customers, ranging from the world’s largest pharmaceutical companies to emerging biotechs.
Abercrombie & Fitch Co (NYSE:ANF), dropped -15.51%, and closed at $20.27, hitting new 52-week low of $20.13.
Formerly on February 19, Abercrombie & Fitch Co. (ANF), stated that on February 18, 2015, the Board of Directors declared a quarterly cash dividend of $0.20 per share on the Class A Ordinary Stock of Abercrombie & Fitch Co., payable on March 11, 2015 to shareholders of record at the close of business on March 3, 2015.
Abercrombie & Fitch Co., through its auxiliaries, operates as a specialty retailer of casual apparel for men, women, and kids. It operates through three segments: U.S.
