Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Furniture &amp; furnishings stocks retrenched broadly, in line with the broader ‘risk-off’ move that affected all major indexes.</li><li>The Water Tower Research Commercial/Contract Furniture Index declined (-3.1%), the Residential Manufacturers &amp; Suppliers Index fell (-1.6%), and the Home Goods Retailers Index declined (-7.2%).</li><li>The S&amp;P 500 and Dow 30 were both down (-2.1%), while the R2K declined (-5.8%). The Mass Retailers Index declined (-5.6%).</li></ul>

Furniture &amp; furnishings stocks retrenched broadly, in line with the broader ‘risk-off’ move that affected all major indexes.The Water Tower Research Commercial/Contract Furniture Index declined (-3.1%), the Residential Manufacturers &amp; Suppliers Index fell (-1.6%), and the Home Goods Retailers Index declined (-7.2%).The S&amp;P 500 and Dow 30 were both down (-2.1%), while the R2K declined (-5.8%). The Mass Retailers Index declined (-5.6%).

Furniture/Furnishings Weekly - Stocks Down as Market Retrenches

<ul><li>The market rotation continued to benefit many of the stocks in the Water Tower Research Furniture and Furnishings indexes.</li><li>The Water Tower Research Commercial/Contract Furniture Index was up (+5.5%) and Home Goods Retailers Index was up (+4.7%) for the week, while the Residential Manufacturers &amp; Suppliers Index pulled back slightly (-1.4%) overall, even as many individual issues within the index continued higher, as the rotation to smaller-cap and value stocks <span style="font-size: var(--content-font-size);">continued with the S&amp;P 500 and Dow 30 (-1.9%) down, while the </span>R2K (+1.8%) continued higher.</li><li>The Water Tower Research Mass Retailers Index was down modestly (-0.4%).</li></ul>

The market rotation continued to benefit many of the stocks in the Water Tower Research Furniture and Furnishings indexes.The Water Tower Research Commercial/Contract Furniture Index was up (+5.5%) and Home Goods Retailers Index was up (+4.7%) for the week, while the Residential Manufacturers &amp; Suppliers Index pulled back slightly (-1.4%) overall, even as many individual issues within the index continued higher, as the rotation to smaller-cap and value stocks continued with the S&amp;P 500 and Dow 30 (-1.9%) down, while the R2K (+1.8%) continued higher.The Water Tower Research Mass Retailers Index was down modestly (-0.4%).

Furniture/Furnishings Weekly - Conn's Files as Industry Bankruptcies and Layoffs Mount

<ul><li>Rotation into smaller-cap and value stocks continues.</li><li>The Water Tower Research Commercial/Contract Index (+1.2%) and Residential Manufacturers &amp; Suppliers Index (+2.4%) benefited, while the Home Goods Retailers Index (-2.1%) was weighed down, in part, by bankruptcy concerns for CONN.</li><li>The Mass Retailers Index (-2.4%) was affected by weakness in growth stocks, giant caps, and technology components of the market. </li></ul>

Rotation into smaller-cap and value stocks continues.The Water Tower Research Commercial/Contract Index (+1.2%) and Residential Manufacturers &amp; Suppliers Index (+2.4%) benefited, while the Home Goods Retailers Index (-2.1%) was weighed down, in part, by bankruptcy concerns for CONN.The Mass Retailers Index (-2.4%) was affected by weakness in growth stocks, giant caps, and technology components of the market. 

Furniture/Furnishings Weekly - Another Good Week for Stocks

<ul><li>In a holiday-shortened trading week (US Independence Day fell on a Thursday), larger-cap stocks outperformed smaller-cap stocks and the Water Tower Research Furniture/Furnishings indexes trailed the market.</li><li>For the week, the WTR Commercial/Contract Furniture Index (-1.2%), Residential Manufacturers &amp; Suppliers Index (-1.1%), and Home Goods Retailers Index (-3.1%) trailed the Mass Retailers Index (+2.2%) and the broader market indexes (-1.0% to +2.0%).</li><li>The US Federal Trade Commission (FTC) is officially seeking to prevent Tempur Sealy from acquiring Mattress Firm, citing concerns over corporate power and potential anti-competitive outcomes. </li></ul>

In a holiday-shortened trading week (US Independence Day fell on a Thursday), larger-cap stocks outperformed smaller-cap stocks and the Water Tower Research Furniture/Furnishings indexes trailed the market.For the week, the WTR Commercial/Contract Furniture Index (-1.2%), Residential Manufacturers &amp; Suppliers Index (-1.1%), and Home Goods Retailers Index (-3.1%) trailed the Mass Retailers Index (+2.2%) and the broader market indexes (-1.0% to +2.0%).The US Federal Trade Commission (FTC) is officially seeking to prevent Tempur Sealy from acquiring Mattress Firm, citing concerns over corporate power and potential anti-competitive outcomes. 

Furniture/Furnishings Weekly - Jul 8, 2024

<ul><li>Residential furniture stocks had a tough week over concerns about demand, though commercial furniture stocks fared better.</li><li>The Water Tower Research Commercial/Contract Furniture Index declined 0.5%, the Residential Manufacturers &amp; Suppliers Index fell 3.2%, and Home Goods Retailers declined 5.7%.</li><li>All three trailed the broader indexes (+0.2 to +0.5%) and the Mass Retailers Index (+1.7%). </li></ul>

Residential furniture stocks had a tough week over concerns about demand, though commercial furniture stocks fared better.The Water Tower Research Commercial/Contract Furniture Index declined 0.5%, the Residential Manufacturers &amp; Suppliers Index fell 3.2%, and Home Goods Retailers declined 5.7%.All three trailed the broader indexes (+0.2 to +0.5%) and the Mass Retailers Index (+1.7%). 

Furniture/Furnishings Weekly - July 1, 2024

United States

Leggett & Platt, Incorporated manufactures a wide range of engineered products. The Company's products include components for bedding, furniture, and other residential furnishings, as well as office and institutional furnishings components, retail store fixtures, and displays, specialty wire products, and automotive seating suspension and lumbar systems.

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Leggett & Platt (LEG US)

Furniture/Furnishings Weekly - Stocks Down as Market Retrenches

Furniture & furnishings stocks retrenched broadly, in line with the broader ‘risk-off’ move that affected all major indexes.

Water Tower Research

Furniture/Furnishings Weekly - Conn's Files as Industry Bankruptcies and Layoffs Mount

The market rotation continued to benefit many of the stocks in the Water Tower Research Furniture and Furnishings indexes.

Water Tower Research

Furniture/Furnishings Weekly - Another Good Week for Stocks

The Mass Retailers Index (-2.4%) was affected by weakness in growth stocks, giant caps, and technology components of the market.

Water Tower Research

Furniture/Furnishings Weekly - Jul 8, 2024

In a holiday-shortened trading week (US Independence Day fell on a Thursday), larger-cap stocks outperformed smaller-cap stocks

Water Tower Research

Furniture/Furnishings Weekly - July 1, 2024

Residential furniture stocks had a tough week over concerns about demand, though commercial furniture stocks fared better.

Water Tower Research

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