Negative Movers: Company Guidance Hurts Some Stocks (LL, CCIX, HSOL, TOF, AFFX)
The markets are trading higher on Thursday after initial jobless claims were less than expected. Some Indexes are performing poorly after some companies lowered quarterly earnings estimates.
Today’s Negative tickerspy Indexes:
Home Improvement Retail Stocks (down 4.8% today vs S&P 500): The Index is being pulled down by shares of Lumber Liquidators Holdings (LL), which gave updated second quarter earnings guidance of 18 cents to 20 cents per share compared to analyst estimates of 31 cents per share. Also performing poorly today is the Hurricane and Natural Disaster Stocks Index. One bright spot in the Index are shares of Coleman Cable (CCIX), which are trading higher on well above average volume.
Chinese Solar Stocks (down 2.3% vs S&P 500): Shares of Hanwha SolarOne (HSOL) are leading the Index lower on well above average volume after Jefferies downgraded the stock to hold from buy and lowered its price target to $6 from $8.
Genetic Analysis Stocks (down 0.6% vs S&P 500): Affymetrix (AFFX) is falling more than 15% after the company pre-announced second quarter revenue guidance of $64 million to $65 million, well below its previous estimates of $73.7 million.
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