Analysts didn’t just take down this year’s profit targets on Select Comfort. The average profit target for 2014 has now gone from $2.05 a share a week ago to $1.85 a share today.
Pleasant dreams, investors.
4. Skullcandy Inc (NASDAQ:SKUL) and cross bones
Skullcandy makes edgy headphones and earbuds, but now it’s having a problem with the volume knob.
Skullcandy posted mixed quarterly results last night, but the real shocker came in its guidance.
The broken IPO — shares have shed two-thirds of their value since going public at $20 two summers ago — is only going to get uglier. Skullcandy expects to post a loss of $0.25 a share to $0.30 a share on a 30% drop in revenue. Analysts were holding out for a small profit on a 12% top-line pop.
Oops. The stock opened 17% lower this morning on the news
5. Goodbye, Tuesday Morning (NASDAQ:TUES)
Tuesday Morning runs a peculiar retail model.
The discounter gets its name from the lulls where it closes its stores to stock up on new wares, only to reopen again on a Tuesday morning. Apparently its CEOs also last about as long as one of the chain’s selling cycles.
The retailer took a hit this week after announcing that CEO Brady Churches would be stepping down after just six months on the job.
I guess that gives the company a couple of weeks to introduce its next CEO, ideally early on a Tuesday morning.
The article This Week’s 5 Dumbest Stock Moves originally appeared on Fool.com and is written by Rick Aristotle Munarriz.
Longtime Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool owns shares of Skullcandy.
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