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Sterne Agee Downgrades K-Swiss (KSWS) to Sell

May 8, 2009 11:57 AM EDT
KSWS Hot Sheet
Rating Summary:
    0 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 7 | New: 22
Sterne Agee downgrades K-Swiss (Nasdaq: KSWS) from Hold to Sell.

K-Swiss reported its Q1 earnings yesterday morning, beating the Street on both EPS and sales. The company also issued in-line FY09 guidance.

Despite the better-than-expected results, shares of K-Swiss sold-off more than 9% yesterday and are continuing lower today with another 9% decline. The stock most recently traded at $8.72.

K-Swiss Inc., together with its subsidiaries, engages in the design, development, and marketing of athletic footwear for sports use, fitness activities, and casual wear.

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