This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Five Dumbest Things on Wall Street This Week: June 22

5. Body's Repeat Performance

Like the TV networks, Wall Street is filling the summer void by programming reruns. And we're not simply talking about European bailouts and broken internet IPOs perpetually popping up on trading screens either.

Take Body Central's (BODY) ridiculous repeat performance for example.

The women's apparel retailer slashed its second-quarter outlook Monday as a result of weak sales trends and a bloated inventory, causing its stock to collapse by 49% to $8.66. Body Central cut its second-quarter earnings forecast to 19 to 21 cents per share from a range of 26 to 28 cents, and says it now expects second-quarter net revenue of $77 million to $79 million, down from $80 million to $82 million.

"We continue to diligently manage inventory and to take aggressive markdowns on slow moving items," said CEO Allen Weinstein in a statement.

Wait a second there Weinstein! Didn't we see this same exact episode not too long ago?

Oh yeah! That's right. Just last month Body Central lowered its profit and sales guidance, surprising the Street and causing its shares to sink 49% in the process.

Here's what Weinstein said back in May when the stock took its last shellacking: "We are closely monitoring our inventory levels and content."

Here's what we said at the time: "Seriously, not since Rocky broke Apollo Creed's rib have we seen a crowd favorite suffer such a massive gut-shot."

Another month, another body blow for Body Central. Time to change the channel folks because, quite sadly, we've seen this show before.
1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BODY $0.02 0.00%
GS $190.02 0.00%
JCP $7.97 0.00%
KO $42.62 0.00%
MSFT $54.35 0.00%


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs