New 52-Week Lows: SHLD, MW
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With the height of earnings season behind Wall Street by several weeks, fewer companies are reporting their quarterly numbers everyday. Now that hundreds of companies aren't reporting earnings everyday, the ones that report tend to receive a little extra attention. Sears Holdings (Nasdaq: SHLD) is a great example.
Run by billionaire investor and hedge-fund manager, Eddie Lampert, Sears has had a boring year, at least in the media's eye, despite a 40% decline in the value of its stock during 2007. Now that Sears has reported terrible Q3 earnings, however, it is fetching top headlines today.
Sears reported net income of $2 million, down from $196 million in the same period last year, translating to $0.01 per share and $1.27 per share, respectively. Shares of SHLD have sunk about $14, or about 12% today, setting a new 52-week low at $98.25. Speculation is swirling about what Sear's hedge fund manager CEO, Lampert, will do to save the retailer.
Another good example of the heightened response to earnings comes from Men's Wearhouse (NYSE: MW). The Company reported in-line Q3 EPS and revenues that were better than the analyst estimate, but issued guidance that was below the Street consensus: $0.43-$0.48, versus $0.55. The earnings report helped push shares of Men's Wearhouse to a new 52-week low today, when its stock price went as low $33.62.
Although the outlook is disappointing, it seems the market could be slightly over-reacting to the announcement. So far, with nine days in November that saw the market indices move up or down by at least a percent, and far less momentum from the earnings season, it feels like the market is trying to keep itself busy by picking on individual movers on this relatively stable day.
Run by billionaire investor and hedge-fund manager, Eddie Lampert, Sears has had a boring year, at least in the media's eye, despite a 40% decline in the value of its stock during 2007. Now that Sears has reported terrible Q3 earnings, however, it is fetching top headlines today.
Sears reported net income of $2 million, down from $196 million in the same period last year, translating to $0.01 per share and $1.27 per share, respectively. Shares of SHLD have sunk about $14, or about 12% today, setting a new 52-week low at $98.25. Speculation is swirling about what Sear's hedge fund manager CEO, Lampert, will do to save the retailer.
Another good example of the heightened response to earnings comes from Men's Wearhouse (NYSE: MW). The Company reported in-line Q3 EPS and revenues that were better than the analyst estimate, but issued guidance that was below the Street consensus: $0.43-$0.48, versus $0.55. The earnings report helped push shares of Men's Wearhouse to a new 52-week low today, when its stock price went as low $33.62.
Although the outlook is disappointing, it seems the market could be slightly over-reacting to the announcement. So far, with nine days in November that saw the market indices move up or down by at least a percent, and far less momentum from the earnings season, it feels like the market is trying to keep itself busy by picking on individual movers on this relatively stable day.
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