Sell Acuity Brands (NYSE: AYI)
Acuity reported a disastrous quarter this morning. Despite already lowering estimates once, earnings were less than expected. Worse yet, the company warned that growth would not return until 2018. I waited too long to sell this stock with the, unfortunately, incorrect, assumption that weakness in sales was temporary.
Although I hate taking a large loss, I don’t see Acuity bouncing much from here. The company has a conference call at 10 am which might inspire a small bounce but I don’t expect a big upward move.
Stock Talk
DR083157
Linda, you just sent out a article on mind over markets that is basically slamming Lulu Lemmon. Can you recomend an option trade on this please along withthe trade rationale. I typically do very well with your suggestions and thus asking for one to augment your research. Rgds, Doug
Linda McDonough
Doug,
I am certainly looking at LULU for some trades in the future. The stock has dropped so much and so quickly that the options are too expensive to offer a good return for us. However, LULU is on my daily screen so I expect we’ll have a nice set up in the future.
Best,
Linda
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