Pier 1 Imports (PIR) shares are on fire in a bad way. The wicker king is down more than 15% after missing earnings and lowering estimates. CEO Alex Smith says the Internet is negatively impacting sales and store traffic. You'd think he would have seen that one coming. Barclays downgraded the stock to underperform, noting that sales and earnings would be disappointing.
Vivus (VVUS) shares are barely safe for work, up more than 10%. The makers of erectile dysfunction drug Stendra have been given permission to advertise the drug as being effective in as little as 15 minutes. That gives Stendra users a quarter hour head start over users of competing drugs like Viagra. This small triumph in man's ancient war against foreplay is worth about $50 million based on today's price action.
Critics have been hard on Amazon's (AMZN) fire phone but the company makes the best e-readers money can buy. The online retailer is getting chatter today after releasing an updated device line-up including a $100 Kindle aimed at the masses. The slightly higher-end $200 Kindle Voyage is for the most discerning e-reader customers. Amazon says the screen works in direct sunlight and even looks like paper. When they make one that smells like paper and sell them in enormous stores I'll be a buyer in size.
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