Apparel Company Forms Special Committee
True Religion Apparel said it’s forming a committee to explore selling the company after receiving interest from potential buyers. The board hired Guggenheim Securities as its financial advisor. TRLG rallies 23 percent before the bell on my tradeMONSTER platform.
Helen of Troy Misses Estimates, Lowers Guidance
Helen of Troy earned $0.72 a share in its second quarter on revenue of $287 million. Analysts had expected $0.85 and $310 million, respectively. Management also cut guidance, citing a “continuingly challenging retail sales environment.” HELE drops 8 percent in early trading.
Cummins Plans Job Cuts As Growth Stalls
Cummins lowered its full-year revenue outlook to $17 billion, down from previous guidance of $18 billion, because of weak demand. The maker of diesel engines now plans to close factories and lay off 1,500 workers to save money. CMI drops 4 percent on the news.