MillerKnoll's stock sinks on outlook, but company says bigger orders signal bigger focus on office space
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MillerKnoll Inc.'s stock declined after the company reduced its full-year profit outlook due to slower macroeconomic improvements and a tight housing market. However, the company noted an increase in larger orders, indicating a focus on office space.
December 19, 2024 | 12:00 am
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MillerKnoll Inc.'s stock fell after the company lowered its profit outlook, citing slow economic recovery and a tight housing market. Despite this, larger orders suggest a shift towards office space.
The reduction in profit outlook is a negative indicator for investors, likely causing the stock to drop. However, the mention of larger orders and a focus on office space could mitigate some concerns, but the immediate impact is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100