Stanley Furniture slides on lowered Q2 and FY08 guidance
Shares of Stanley Furniture Company, Inc. (Nasdaq:STLY) are treading lower out of the gate after the furniture manufacturer said after Monday’s close that it is lowering its fiscal second-quarter and 2008 guidance substantially below the consensus on Wall Street due to weakening consumer demand.
Shares slumped 10%, or $1.07, to $9.52 at 9:42 a.m. ET. For detailed price information and recent news stories about Stanley Furniture, click STLY.
