Home channel stocks feel the pain
Wall Street continued to dominate the news wires yesterday as the Dow Jones Industrial Average sank almost 450 points, or 4.06 percent. The home channel certainly felt some of the financial pain. Shares of Home Depot and Lowe’s both dropped more than 7 percent in value on the day.
Among other major movers in the home channel yesterday, Louisiana-Pacific shares declined $1.13, or 10.98 percent, to $9.16; and Scotts Miracle-Gro declined $2, or 6.96 percent, to $26.75.
Only two of 20 home channel stocks tracked by Home Channel News showed gains. Simpson Manufacturing increased 78 cents to $28.55, up 2.81 percent, and Builders FirstSource gained slightly.