Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of furniture maker HNI Corp.
So what: Revenue increased 9% to $396.2 million, and loss per share improved to $0.04 from $0.09 last year. Both beat estimates but the market still wasn't satisfied today.
Now what: I don't see any major reason to panic today, but management did point to short-term margin pressure that may affect near-term profits. This is a seasonally weak quarter for HNI, so investors could be concerned that profits in future quarters won't meet expectations. I see today as a buying opportunity and think shares will recover from today's loss.
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