Posted: 6 month(s) and 21 days(s) ago   |   0 Comment(s)   |   Rating: 0 0
Posted by: ToddShriber

Here's another bearish update on a name I just mentioned last Friday. Cost Plus (CPWM.NSDQ), the discount retailer, shed another 41 cents, or 17%, to $1.97 today, making the stock the biggest loser on the Nasdaq for the second straight day. Volume was more than quadruple the daily average.

Oddly enough, Keycorp upgraded several Cost Plus rivals today, but Cost Plus was left out of the equation. Even downtrodden competitor Pier One (PIR.NYSE) received an upgrade while Cost Plus was passed over.

One thing is certain and that is home furnishings is a tough business to be in right and Cost Plus's most recent earnings report tells as us (read my post from Friday for more info). Another think I know: If Pier One beats a stock to an upgrade it's time to sell that stock.

For more on Cost Plus, go here: http://www.costplus.com

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