Market Overview

L Brands Smoked On Lower Guidance


L Brands Inc (NYSE: LB) shares are trading lower by $9.00 (15.6 percent) at $49.13 in Thursday's session. Although the company reported a mixed Q4 report with an EPS beat of $0.13, the Street is punishing the issue for lower FY 2017 guidance.

While Street estimates were at $3.61, the company warned FY 2017 EPS will come in at the $3.05-$3.35 range.

Since the report, the stock hasn't seen the light of day. After being pounded in after-hours trading, the slaughter continued into the regular session. The issue lost the $50.00 level in the first 10 minutes of the session and has traded as low as $48.86 and yet to stabilize.

That marks the lowest level for L Brands since February 2014, when it bottomed at $47.74.

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