Insights about U.S. Stocks that landed in the Red-Zone during Thursday’s trade, are depicted underneath:
Joy Global Inc (NYSE:JOY)’s shares dwindled -5.20%, and closed at $39.94.
Joy Global, Inc. (JOY), lowered its full-year earnings outlook on Thursday. The stock was at its lowest level in more than five years.
JOY stated adjusted earnings of 25 cents per share in the first quarter of fiscal 2015, down 48.9% from 49 cents per share a year ago. Earnings were also short of the Zacks Consensus Estimate of 38 cents by 34.2%.
GAAP earnings per share for the fiscal first quarter were 24 cents contrast with 48 cents in the year-ago quarter. The difference between GAAP and operating earnings was due to a 1 cent restricting charge.
Total Proceed:
Joy Global stated net sales of $703.8 million in the first quarter of fiscal 2015, down 16.1% from $893.3 million in the year-ago quarter. Proceeds were also lower than the Zacks Consensus Estimate of $749 million by 6%. The downside was due to lower contributions from its Underground Mining Machinery and Surface Mining Equipment segments.
Joy Global Inc. manufactures and services mining equipment for the extraction of coal, copper, iron ore, oil sands, gold, and other minerals. It operates in two segments, Underground Mining Machinery and Surface Mining Equipment.
Lumber Liquidators Holdings Inc (NYSE:LL), declined -5.08%, and closed at $33.83, hitting new 52-week low of $33.12.
Lumber Liquidators Holdings, Inc. (LL), has lost almost half of its market value over the past 10 days amid allegations that it knowingly sold products with more formaldehyde than is allowed by California law. A “60 Minutes” piece aired on CBS March 1, which relied in part on undercover reporters and hidden cameras, showed managers at three Chinese factories admitting to false labeling that made it look like the products met regulations.
Lumber Liquidators (LL), also 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. Additionally, Lumber Liquidators provides a wide selection of flooring enhancements and accessories to complement, install and maintain your new floor. Every location is staffed with flooring experts who can provide advice and useful information about Lumber Liquidators’ low priced product, much of which is in stock and ready for delivery.
Kate Spade & Co (NYSE:KATE), dipped -5.05%, and closed at $33.26.
Kate Spade & Corporation (KATE), declared results for the fourth quarter and full year ended January 3, 2015.
Net sales for the fourth quarter of 2014 were $399 million, an raise of $123 million, or 44.7%, from the comparable 2013 period, reflecting raises of 50.5% in the Kate Spade North America segment and 56.0% in the Kate Spade International segment, partially offset by a decrease in net sales in the Adelington Design Group segment. Fourth quarter 2014 direct-to-consumer comparable sales growth was 28%, or 21% not including e-Commerce.
Adjusted EBITDA, net of foreign currency transaction adjustments, was $77 million or $85 million, not including charges related to declared brand actions for the fourth quarter of 2014, contrast to $55 million for the fourth quarter of 2013. Comparable Adjusted EBITDA, net of foreign currency transaction adjustments, was $57 million for the fourth quarter of 2013.
For the fourth quarter of 2014 on a GAAP basis, revenue from ongoing operations was $126 million, or $0.99 per diluted share (which comprises a benefit of $88 million resulting from the reversal of revenue tax reserves, due to the expiration of the related statutes of limitations), contrast to revenue from ongoing operations of $29 million, or $0.23 per share, for the fourth quarter of 2013. Adjusted diluted earnings per share from ongoing operations in the fourth quarter of 2014 were $0.24, contrast to $0.13 in the fourth quarter of 2013.
Net sales for the full year 2014 were $1.139 billion, an raise of $335 million, or 41.7%, from 2013, counting an $18 million benefit associated with the additional week in 2014. Not including the benefit of the additional week, full year 2014 direct-to-consumer comparable sales growth was 24%, or 22% not including e-Commerce. Adjusted EBITDA, net of foreign currency transaction adjustments, was $147 million for the full year 2014, contrast to $77 million for the full year 2013. Comparable Adjusted EBITDA, net of foreign currency transaction adjustments, was $88 million for 2013. For the full year 2014, the Corporation recorded revenue from ongoing operations of $77 million, or $0.60 per share, (which comprises a net benefit of $87 million resulting from the reversal of revenue tax reserves, due to the expiration of the related statutes of limitations) contrast to a loss from ongoing operations in 2013 of ($32) million, or ($0.27) per share. Adjusted earnings per diluted share from ongoing operations for 2014 were $0.25 contrast to an adjusted loss per share from ongoing operations of ($0.10) in 2013.
Kate Spade & Corporation (KATE) designs and markets accessories and apparel principally under two global, multichannel lifestyle brands: Kate spade New-York and Jack Spade. With collections spanning demographics, genders and geographies, the brands are intended to accent customers’ interesting lives and inspire adventure at each turn.
Ultra Petroleum Corp (NYSE:UPL), dropped -4.84%, and closed at $15.94.The company has the market capitalization of $2.55B. The beta value of the stock is 1.27. On the other hand the stock’s volatility for the week is 5.34%, and for the month is7.67%. The stock price to book value is $11.55, however price to sale value is $1.98. Analyst’s mean recommendation regarding this stock is 2.90. (where 1=Buy, 5=Sale).
