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Stock impact report

Leggett & Platt (LEG) Stock Trades Down, Here Is Why [Yahoo! Finance]

Leggett & Platt, Incorporated (LEG) 
Last leggett & platt, incorporated earnings: 2/3 04:20 pm Check Earnings Report
US:NYSE Investor Relations: leggett.com
Company Research Source: Yahoo! Finance
continued to retreat as the company reported third-quarter financial results that revealed softer sales, overshadowing a significant jump in net earnings. Although net earnings rose to $127.1 million from $44.9 million in the same period a year ago, this was largely due to one-time events. The company recorded an $86.8 million gain from the sale of its Aerospace Products Group, along with other real estate gains and insurance proceeds. However, investors appeared to focus on the decline in core business activity, as net trade sales fell to $1.04 billion from $1.10 billion the previous year. The market's reaction suggested concern about the company's underlying operational performance, looking past the profits generated by asset sales. The shares closed the day at $9.34, down 1.9% from previous close. The stock market overreacts to news, and big price drops can present good opportunties to buy high-quality stocks. Is now the time to buy Leggett & Platt? Access our full analysis rep Show less Read more
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