Shares of Middleton-based Spectrum Brands Holdings fell by as much as 36 percent on Thursday after the consumer products company reported a sharp drop in earnings for its second fiscal quarter that ended April 1.At the same time, Spectrum Brands announced a management shakeup, replacing CEO Andreas Rouvé with executive chairman David Maura, effective immediately. The company also said it is reorganizing its remaining units as it plans to sell the Rayovac battery division to Energizer and continues to seek a buyer for the Remington appliances division.For the second quarter, Spectrum Brands reported total net income of $1.5 million, or 3 cents a share, compared with net income of $58.6 million, or $1 a share, for the same period last year.For its continuing operations, profits were $0.8 million on sales of $766.1 million, down from $39.9 million in profits on sales of $756.5 million for the 2017 second quarter.“While our second-quarter performance was very disappointing, we … [Read more...] about Spectrum Brands profits, stock price stumble
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Shares in ailing Under Armour (UA) plunged after the sportswear maker forecast weaker domestic in sales and profits through the end of the year. Under Armour CEO Kevin Plank said in a statement that "operational challenges and lower demand" for its products in North America hurt the company's third-quarter results. He that international sales are growing more quickly. Under Armour's stock price fell nearly 16 percent to $12.40 in early afternoon trading. The company's shares are down more than 50 percent this year. The Baltimore company also lowered its annual per-share earnings forecast for the second time in three months, to between 18 and 20 cents per share. That's about half what it told investors to expect in August. Shares of rivals Nike (NKE) are up nearly 8 percent in 2017, while Adidas is on an even bigger roll. In a conference call with stock analysts to discuss the Under Armour's latest financial results, Plank said a host of factors hurt its third-quarter … [Read more...] about Under Armour stock price slumps as brand loses luster
Matt Turner, provided by Published 12:13 pm, Wednesday, February 28, 2018 Spotify just filed its F-1 form, and the document is full of detail on how the music streaming business is planning to pull off what it calls a "novel method" for going public. The firm is planning to list on the NYSE without underwriters, without a set price, without a set level of supply of shares, and without a lock-up on existing investors. And those decisions pose lots of risks. "The public price of our ordinary shares may be more volatile than in an underwritten initial public offering and could, upon listing on the NYSE, decline significantly and rapidly," the filing said. Recommended Video: Now Playing: Meet Daniel Ek, the 34 year old wunderkind founder of Spotify. Spotify is rumored to go public. Media: Time Here's how the process differs: No set price range: Spotify's planning on using private market transactions to guide shareholders towards an opening public stock … [Read more...] about Spotify’s using a ‘novel method’ to go public, and it means the stock price could ‘decline significantly and rapidly’
Until the recent downturn, the soaring U.S. stock market had been one of President Trump’s favorite topics.He’s tweeted more than 60 times since his election about new highs and frequently touted the gains in public comments.“The stock market is smashing one record after another, and has added more than $7 trillion in new wealth since my election,” he boasted last month to corporate and political leaders in Davos, Switzerland.Past presidents have resisted taking credit for rising stock prices because, as one aide to former President Obama tweeted recently, “if you claim the rise, you own the fall.”The fall came this month, with the first 1,000-point nosedives ever for the Dow Jones industrial average. The Dow and broader Standard & Poor’s 500 dropped more than 10% — what’s considered a market correction — before recovering much of those losses in recent days.Some economists said Trump owns this drop — along with the … [Read more...] about Trump claimed credit for rising stock prices, now he owns their fall — and a possible recession
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Richard S. Warr, North Carolina State University (THE CONVERSATION) Stock markets have been on a wild ride recently, plunging one day and then soaring the next. Pundits have offered many reasons for the biggest stock market swoon in two years. One of the most frequently blamed culprits was the threat of inflation, which loosely means an increase in consumer prices over time. That threat became a little more real after the latest data, released on Feb. 14, showed inflation in January rising more than expected, sending stocks and bonds lower. What would prompt something so seemingly banal to send investors into a state of craziness and even panic? A closer look at inflation – a topic I’ve studied closely – and how it affects markets offers some answers. It also hints that an economic slowdown is closer than you may think. What is inflation? … [Read more...] about Why does inflation make stock prices fall?