Sterne Agee Downgrades K-Swiss (KSWS) to Sell
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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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