Boston, MA 10/10/2014 (wallstreetpr) – Modular carpets manufacturer and supplier Interface, Inc. (NASDAQ:TILE) shares plunged for the second day running on 9th October after the firm provided a revenue warnings coupled with bleak outlook for its 3Q operations. The stock was down 14 percent since 8th October and had settled in at $13.59 as of yesterday. The revenue dip is being linked to lesser number of newer orders than previously forecasted coupled with pushed out delivery dates which have led to dip in recognizing revenue receivables. The Atlanta based firm also reported that cost of restricting which had previously been pegged at $5 million has now increased to $12.5 million. Company Chief Executive Daniel T. Hendrix acknowledged that the preliminary numbers for 3Q does not meet up to company’s internal expectations.
In spite of reporting better than expected results from its year ending fourth quarter operations a day earlier, the stock of Costco Wholesale Corporation (NASDAQ:COST) could not sustain the investor confidence. The share price was slightly down yesterday to bottom out at $128.41. On 8th October the Washington-headquartered firm had reported net income of $697 million from its 4Q operations. This translated to a $1.58 income per share. Last year, net income had come in at $617 million translating to income per share of $1.40. Sales were up by 9 percent to peak at $34.75 billion, as against previous year’s quarter compare of $32.49 billion.
Stock of Blackhawk Network Holdings Inc (NASDAQ:HAWK) reversed most of the gains it had registered over the past couple of days to settle at $33.59, 5 percent lower at end of trading on 9th October. Surprisingly, the dip came on the back of company announcing that Canadian firm DataCandy, which offers gift card solutions, had leveraged Blackhawk Network Holdings Inc (NASDAQ:HAWK) digital payment platform to grow its Canadian online presence.