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Opening statement, they believe their future is bright.
Not scary at all, just the company holding a call to fight back. It just started.
Pretty sure that was some short covering before the call.
I added yet another call this week, 9 of the 2017 $105's now. Not worried at all.
Press Releases
Lumber Liquidators Provides Agenda For Business Update Conference Call
Mar 10, 2015
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TOANO, Va., March 10, 2015 /PRNewswire/ -- Lumber Liquidators (NYSE: LL), the largest specialty retailer of hardwood flooring in North America, today announced an agenda for its business update conference call to be held on March 12, 2015 at 10:00 a.m. Eastern Time. The conference call will be accompanied by a slide presentation that will be available by approximately 7:00 a.m. on the morning of the call. The topics to be discussed will include:
Introduction
"Our Products are Safe"
"What's Causing the Confusion"
"Taking Care of our Customer"
Business Update, including
Sales Mix and Laminate Sourcing
First Quarter 2015 Outlook
"Why We Believe Our Liquidity Is Adequate for the Foreseeable Future"
Next Steps
Marketing the Value Proposition
Focusing on the Customer
The conference may be accessed by dialing (877) 407-9039 or (201) 689-8470. A replay will be available approximately two hours after the call ends through March 19, 2015 and may be accessed by dialing (877) 870-5176 or (858) 384-5517 and entering pin number 13603624. The live conference call and replay can also be accessed via audio webcast at the Investor Relations section of the Company's website, www.lumberliquidators.com. The slide presentation will also be available on the Investor Relations section of the Company's website.
Lumber Liquidators
About Lumber Liquidators
With more than 350 locations, Lumber Liquidators is North America's largest specialty retailer of hardwood flooring. The Company features more than 400 top quality flooring varieties, including solid and engineered hardwood, bamboo, cork, laminate and vinyl plank. Additionally, Lumber Liquidators provides a wide selection of flooring enhancements and accessories to complement, install and maintain your new floor. Every location is staffed with flooring experts who can provide advice and useful information about Lumber Liquidators' low priced product, much of which is in stock and ready for delivery.
With premier brands including Bellawood and Morning Star Bamboo, Lumber Liquidators' flooring is often featured on popular television shows such as HGTV's Dream Home and This Old House. For more information, please visit www.LumberLiquidators.com or call 1.800.HARDWOOD.
Lumber Liquidators aims to be the industry leader in sustainability. For more information, please visit www.LumberLiquidators.com/Sustainability. Learn more about our corporate giving program at LayItForward.LumberLiquidators.com. You can also follow the Company on Facebook and Twitter.
For further information contact:
Lumber Liquidators Investor Relations
Ashleigh McDermott
Tel: 757.566.7512
Logo - http://photos.prnewswire.com/prnh/20130529/NY21644LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/lumber-liquidators-provides-agenda-for-business-update-conference-call-300047868.html
SOURCE Lumber Liquidators
I suspect we will hear a LOT more "I learned about it from the news just like you....."
Planned stuff,
"Mandatory tax withholding on distribution from benefit plan"
They will head back towards $35 within a month, maybe sooner and for sure long before my 2017 leaps come into play.
I wonder how much shady stuff will pop up since it seems the press has decided to do their job this time around?
I saw a Bloomberg article that said shareholders would receive warrants to buy new shares if they supported the plan.
Secured lenders will receive a new first-lien term loan and the noteholders will get equity in the reorganized company, under the terms of the restructuring plan.
The noteholders providing the bankruptcy financing will get a convertible second-lien term loan and new common shares as well.
Current shareholders are slated to get warrants to buy equity in the reorganized company if they vote in favor of the plan. Otherwise, they’ll get nothing. The existing stock will be canceled.
http://www.bloomberg.com/news/articles/2015-03-10/gold-miner-allied-nevada-files-for-bankruptcy
It moves 1-3 bucks a share on a fairly regular basis, only news recently is that AAPL is replacing them in the DOW which is kind of a non-event for them, at least IMO
I understand (been doing this since 1988) My point was the yield being so high will bring in more buyers the closer it gets to 6% (as it approaches 30) which will support the pps from going much lower.
At least that is my thinking, meanwhile I will get almost dollar for dollar movement on the leaps for less than 10% of the pps which makes the leverage amazing.
T Has not seen $30 in around 3 years, it yields 5 3/4 % at this level which holds it from goIng much lower I think. I have done really well recently buying the ATM leaps at this level and selling when it approaches 35.
Well, decided to pick up 10 of the 2017 $32 calls as well at $2.50
Think I am done now....
Just added 5 more of the 2017 $30 calls at $3.70, think 15 is enough for now.
I picked up 10 of the 2017 $30 calls at $3.80 this morning to start a position. Only about a .60 premium to leverage a $32 stock until 2017 Seems like a no brainer to me. Will sell on the next push towards $35
4 48 88 please
The ads I saw yesterday were their normal ads, congrats to the ad agency for making it seem it was special, that is what they go for.
Bad precedent if you can be suspended over an allegation of a crime made 6 months after the fact with zero evidence to back it up. Seems like NASCAR has really opened up a Pandora's box.
Me thinks Kurt got a raw deal bigtime....
Not really, its my smallest position by far, and I have until 2017 to be right although I suspect I will own them less than a month.
Added another 2017 $35 call at $9,30
think that is enough for a while until it settles out.
I grabbed one of the 2017 $35 calls at $10.10 to have a little skin in this game while it continues to sort out.
This further enforces my thoughts that the 60 mins piece was shady and misleading.
http://www.streetinsider.com/Analyst+Comments/Lumber+Liquidators+%28LL%29+Bulls+Should+Take+a+Deep+Breath,+Janney+Capitals+Strasser+Says/10343458.html
Lumber Liquidators (LL) Bulls Should Take a Deep Breath, Janney Capital's Strasser Says
Janney Capital's Lumber Liquidators (NYSE: LL) analyst David Strasser, who upgraded the stock a few short days ago, is back out in defense of the company amid the continued sell-off in the stock after Florida Sen. Bill Nelson called for a government investigation into its China-made laminate flooring. Strasser said investors should take a deep breath.
"This is not a fair fight against LL," Strasser comments. "First, it is highly unlikely that even if formaldehyde levels were elevated there is any liability, as the damage is at best nominal. Additionally, there is plenty of misinformation regarding testing procedures. In this note, we try to straighten that out. Quantifying damage to the brand remains a challenge, but if other issues are resolved, this stock will rise."
He highlights:
There appears to be a rush amongst consumers to get their floor tested - We have good news and bad news. The good news, is your floors are fine, the bad news, it’s an expensive test, and you won’t get accurate results. Ironically, every floor that is tested is likely to have no formaldehyde, because it is off gassed (dissolves into the air) in the month or so after being removed from the box, which means, that all the formaldehyde disappears shortly after the products are taken out of the box and installed. For example according to the Minnesota Department of Health, and others, leaving windows open allows off gassing, along with opening the flooring box for a few days, or keeping temperatures low for a bit will help rid the product of formaldehyde. So flooring inside homes shouldn't be tested, because the formaldehyde does not exist after a short period of time.
This also dramatically decreases the potential for any harm to individuals, as there is no long term exposure. Additionally, since carpet, natural gas appliance emissions, furniture and many consumer products all contain some formaldehyde, a test would not necessarily isolate the source. But flooring is a finite source, so the gas will be zero before any fraying to the flooring should worry someone. Now that does not mean people should run out and buy formaldehyde infested floors, but just a common sense check on the fact that even if non-compliant these floors wouldn’t cause severe health issues, seems a departure from the rhetoric we have heard the last few days. Release from the Minnesota Department of Health Environmental Health http://www.health.state.mn.us/divs/eh/indoorair/voc/formaldehyde.htm
What I Would Tell My Wife If We Had Chinese Laminates From LL, And Took The 60 Minutes Story at Face Value: We did a lot of research on Formaldehyde levels - we are not scientists or doctors - but we read what govt agencies and others have said about formaldehyde. As we have gotten to know well, the CARB standard is 0.05 ppm. Taking the 60 Minutes test results at face value, they are 6 or 7x that level or 0.30 to 0.35 ppm. By comparison OSHA standards for formaldehyde, which governs workplace rules for people who work in places with higher than normal exposure to formaldehyde, is 0.75 ppm in the US measured as an 8 hour time weighted average, which is 15x the CARB requirement and twice the level of the 60 minutes test results.
By comparison in Europe, for Asian imports, the compliant measure is 0.38ppm, and the voluntary levels in the US are about 0.30 ppm, in line with the CBS test results. That does not exonerate LL if that is the case, but it clearly raises doubt about contingent liability and what the impact of to much exposure is to an individual. Key products that have formaldehyde include furniture, shampoo, wrinkle free fabrics, cigarettes, Mr. Clean, Bananas, mushrooms, water, they all have it. Links: Food Formaldehyde goo.gl/7UJcNg, OSHA fact sheet: http://goo.gl/wWohHe, E-Cig Formaldehyde http://goo.gl/ZNUj6X
...
The firm maintained a Buy rating and price target of $47.
For an analyst ratings summary and ratings history on Lumber Liquidators click here. For more ratings news on Lumber Liquidators click here.
Shares of Lumber Liquidators closed at $35.64 yesterday.
I have not listened to the call yet, what was said about it?
I think the older cell phones are worth about a buck a piece to scrap them but it is time consuming and not really worth it IMO unless you have a ton of them and nothing better to do.
I suspect it was some profit taking by traders who bought the 9's and 10's derisking before earnings.
This guys thoughts are similar to mine on the 60 mins thing. Worth a read.http://kiddynamitesworld.com/lets-talk-formaldehyde-testing-regulations/
Just saw $14.40 print
They beat, up to $13.82 at the moment, gaining back what it gave up today.
Smith & Wesson Reports Q4 $0.20 Vs Est $0.11, $130.6M Vs Est $123.32
http://ir.smith-wesson.com/phoenix.zhtml?c=90977&p=irol-SECText&TEXT=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTEwMTIwMjE1JkRTRVE9MCZTRVE9MCZTUURFU0M9U0VDVElPTl9FTlRJUkUmc3Vic2lkPTU3
Don't you just love it when a plan comes together.
Sold $44, will hit it again on a dip. 43.99 actually
I jumped in as well at $39.65 this afternoon.
Earnings tomorrow after the close.
I see an opportunity here, they pre-announced the hit piece on the conference call last week. Think I will play guess the bottom, maybe some 2017 call options.
Yes it did!!! 123 woot!!
Hope they finish in this order, I'm 123........
Superfly is having issues again asked for 20 24 48 please
You two are up way to early....
4 48 88 please.
I think she may need to start having fights in the men's division to have any competition. Insane.