A company called Pool said they won't make as much money as they thought next year, so their stock price went down a lot before the market opens today. Other companies like SolarEdge Technologies and Spirit AeroSystems also had their stock prices go down because of different reasons. Read from source...
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1. Pool Corporation (POOL): The company lowered its FY24 EPS guidance, which indicates weaker-than-expected earnings growth for the current fiscal year. This could be due to lower demand, higher costs, or other factors affecting the business. The stock price declined 8.6% in pre-market trading, reflecting investor concerns about the company's outlook and profitability. However, the stock still trades at a reasonable forward P/E ratio of 13.7x and has a dividend yield of 2.4%. The company has a strong balance sheet and cash flow, which could support its operations and shareholder returns in the long term. Therefore, POOL could be a good candidate for value investors who are willing to wait for a recovery in the stock price and earnings. However, there are also risks involved, such as the possibility of further downgrades, increased competition, or industry headwinds that could negatively impact the company's performance and valuation.