they reduced their EPS guidance for the year to 4.80 to 5.60 from 5.25 to 6.05 on expectations fro continued currency volatility. What miss information are you pushing!
downgrades tomorrow and institutional holder will unload, embarrassed to show on their wrist and in their portfolios! lol
can you say bloodbath
they are unloading for a couple reasons and doubt anyone else will jump in here. First the competition is coming in the midwest with the completion of the big nitrogen facility in Iowa which will be up and running next year. Second RTK who own 59% of RNF needs money badly and was behind putting it up for sale while the numbers looked good. Speaking of numbers I think this quarter that was just announced is likely the peak in earnings for a while. The bad acquisition made by management of the Pasadena, TX company strapped RNF with debt and ended up not providing much to any earnings. This merger is the best thing that could happen for RNF shareholders.
Unit sales were down 14 percent year-over-year to about 927,500, the harshest decline since 2008, NPD told Bloomberg. Retail revenue slid by 11 percent to $375 million.
The head of NPD's luxury division, Fred Levin, noted that watches costing less than $1,000 were most likely to be impacted by the Apple Watch, since that's the range in which people have said they're most likely to buy Apple's product. Indeed watches costing between $50 and $999 suffered setbacks in June, although the most damage came in the form a 24 percent drop for pieces costing between $100 and $150.
Lower-cost brands like Timex, Burberry, and Tissot did poorly during the month, as retailers tried to use discounts to combat consumer saturation.
The true impact of the Apple Watch is difficult to gauge, mostly because Apple has refused to share exact sales numbers or even break out Watch revenue reporting into its own category. Bloomberg remarked, though, that since the category containing the Watch gained $950 million within the product's first quarter, Apple presumably sold at least 1.9 million units, assuming an average selling price of $499.
Unmentioned by NPD is what impact other smartwatches might be having. Although devices from the likes of Pebble, Garmin, and Motorola have had relatively modest success, they could be doing well enough to eat into conventional watch sales.
getting ready for a big downdraft after the close
With balance sheet already highly leveraged, there is no wiggle room for stock buybacks to manipulate the price from falling like a rock.
Chart has that ugly golden death cross where the 50 day moves down over the 200 day moving averages, worse than i thought.
devalued currency and not so hot forecast.....19
bull poop you don't want to see Q to Q growth! Even Barrons picked up on the weaker growth forecast
and that forecast is flat to this quarter, not something you want to see in a company with a PE ratio in the stratosphere! With China's economy falling out of bed it will hit consumer spending hard and VIPS!
no one wants to pay a high PE ratio for a stock that is flattening out quarter to quarter when it hardly has any net earnings.