NEW YORK, NY / ACCESSWIRE / December 15, 2017 / Progress of the recent tax bill hit a snag on Thursday as two GOP Senators raised some concerns. All sectors closed down on Thursday dragging markets lower, with the Healthcare and Materials contributing most losses. The Dow Jones Industrial Average declined 0.31 percent to close at 24,508.66, while the S&P 500 Index fell 0.41 percent to close at 2,652.01. The Nasdaq Composite Index decreased 0.28 percent to close at 6,856.53.

"This market has been going in lockstep with the progress made in the tax bill," said Art Hogan, chief market strategist at B. Riley FBR. "When you see bumps in the road, you're going to get some volatility."

RDI Initiates Coverage on:

Pier 1 Imports, Inc.
https://rdinvesting.com/news/?ticker=PIR

Tiffany & Co.
https://rdinvesting.com/news/?ticker=TIF

Pier 1 Imports stock fell 29.45% Thursday, to close the day at $4.12. The stock recorded a trading volume of 17,204,267 shares, which was above its three months average volume of 1,963,234 shares. The home décor company lost one-third of its value on account of reduced forecast due to struggled business in December. The Company now expects its adj. EPS for FY18 to range between 17 cents and 25 cents as compared to the earlier guidance range of 38 cents to 48 cents. In the last year, Pier 1 Imports shares have traded in a range of 3.96 - 9.68. The stock is currently trading 57.44% below its 52 week high. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $4.63 is greater than its 200-day moving average of $4.62. Shares of Pier 1 Imports are trading at a Price to Earnings ratio of 11.41. Shares of Pier 1 Imports have fallen roughly 3.06 percent in the past month and are down 51.76 percent year-to-date.

Access RDI's Pier 1 Imports, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=PIR

On Thursday, shares in Tiffany & Co. recorded a trading volume of 2,405,316 shares, which was above the three months average volume of 1,492,892 shares. The stock ended the day 3.37% higher at 99.34. Traders were excited as the company announced the renewal of an exclusive license agreement for the development, production and worldwide distribution of sunglasses and prescription frames under the Tiffany & Co brand. The share price has gained 30.57% from its 52-week low with a 52-week trading range of 76.08 - 100.80.The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $93.88 is greater than its 200-day moving average of $92.45. Shares of the company are trading at a Price to Earnings ratio of 26.69. Shares of Tiffany & Co. have gained roughly 6.19 percent in the past month and are up 28.3 percent year-to-date.

Access RDI's Tiffany & Co. Research Report at:
https://rdinvesting.com/news/?ticker=TIF

Our Actionable Research on Pier 1 Imports, Inc. (NYSE:PIR) and Tiffany & Co. (NYSE:TIF) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com