Diamonds and Dogs
8/31/12Zumiez Inc. (ZUMZ)
Zumiez Inc. is zooming downward today, down 9.37% at $29.20. The teen-apparel company saw its shares take a hit after the company issued a soft outlook on the third quarter. Zumiez same-store sales for August grew by 3.7%, falling short of analysts' and the company's own estimates. D.A. Davidson analyst, Andrew Burns, said, "Missing August comp estimates will weigh on shares, but we do not believe this is indicative of a longer term competitive issue." Zumiez has gained nearly 58% over the past 12 months, however today the company will be taking some of the gain back from investors. Shares are trading in the upper half of the company's 52-week range.
Esterline Technologies Corp. (ESL)
Esterline is taking a straight line up today, up 12.94% at $59.79. The aerospace and defense company watched its shares climb after releasing better than expected third quarter earnings. For the quarter, Esterline recorded sales growth of 19% to $485.9 million and reported an adjusted-profit of $1.12, which beat Wall Street estimates by $0.01. Esterline saw the real move in share price come from the news that management was increasing its fourth quarter and full year guidance. Esterline cited strength in its backlog as a driving factor behind the company's profit forecast of $1.60-$1.70 versus the consensus $1.59. Esterline jumped into the middle of its 52-week range and saw its trading volume explode to 1 million versus the three month average of 171,000.