Market Overview

Men's Wearhouse Undressed After Slashing Q3 FY 2015 Guidance


Men's Wearhouse Inc (NYSE: MW) shares are trading lower by $17 at $23.10 in Friday's session. The catalyst for the steep decline is lowered guidance for Q3 and FY 2015 in the range of a $1.

After being throttled in after-hours and pre-market trading, the issue opened sharply lower and managed a brief bounce to $25.40 before continuing lower. The ensuing decline has taken the issue to $21.44 and it has rebounded to $23 area. That takes the issue back to levels not seen since September 2010 when it bottomed at $19.69.

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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