FBI Share Price Falls After Downgrade
December 16, 2008
The share price of Furniture Brands International dropped Monday after Raymond James changed its rating on the stock from "market perform" to "underperform," Reuters reported.
FBI, St. Louis, saw its share price fall more than 15 percent to $2.42. Raymond James said that it's unlikely that FBI can outperform other furniture stocks until its financial situation stabilizes and the company's turnaround strategies show effect.
Reuters also reported that Ethan Allen stock fell 3 percent to $14.13, and La-Z-Boy Inc. dropped 2.4 percent to $2.40.
FBI, St. Louis, saw its share price fall more than 15 percent to $2.42. Raymond James said that it's unlikely that FBI can outperform other furniture stocks until its financial situation stabilizes and the company's turnaround strategies show effect.
Reuters also reported that Ethan Allen stock fell 3 percent to $14.13, and La-Z-Boy Inc. dropped 2.4 percent to $2.40.
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