Market recap: Shares of furniture retailer Conn drop on week revenue forecast

Furniture retailer Conn tumbled 14.9 percent, to $30.53 Thursday after it reported weaker-than-expected revenue and forecast a bigger decline in first-quarter sales. Shares closed Friday at $27.70.

April 7, 2018 at 4:34AM
A Lennar model home on Basswood Road in Plymouth. ] CARLOS GONZALEZ ï cgonzalez@startribune.com - April 9, 2017, Plymouth, MN, New Construction homes,
Homebuilder Lennar reported higher-than-expected revenue in the first quarter, driving stock prices. (The Minnesota Star Tribune)

Conn crushed: Furniture retailer Conn tumbled 14.9 percent, to $30.53 Thursday after it reported weaker-than-expected revenue and forecast a bigger decline in first-quarter sales. Shares closed Friday at $27.70.

Builder busts out: Homebuilder Lennar rose 9.4 percent to $62.45 Wednesday after it reported first-quarter revenue above Wall Street targets. Lennar said it sold more homes at higher prices, indicating robust demand ahead of the critical spring selling season. Shares closed the week at $61.58.

Trade fears: Meat producer Tyson Foods slumped 4.6 percent, to $69.82 Monday after China raised import duties on a list of U.S. goods including meat in response to U.S. tariffs on imported steel and aluminum. A bigger dispute looms over possible higher duties on Chinese goods. Tyson shares closed Friday at $70.11.

Walmart goes shopping? Health insurer Humana rose 7.1 percent to $287.81 and Walmart shares slid 2.4 percent to $86.61 Monday following weekend reports Walmart could buy the insurer or create a new partnership with it. Humana shares closed the week at $283.73; Walmart finished at $86.69.

Bad signal: Media conglomerate Viacom sank 3.3 percent to $37.50 Tuesday following reports that sibling company CBS wanted to buy it for below its current market value. Analysts had been estimating that a deal would come at a premium to Viacom's share price. CBS shares, which rose 2.4 percent to $51.94 on the news, finished the week at $52.84. Viacom shares closed at $35.50 Friday.

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Aaron Lavinsky/The Minnesota Star Tribune

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