Shares of Flooring Makers Surge To Close Week

New York, NY, April 27, 2009--Stocks of floor covering manufacturers surged on Friday.

Share of Mohawk Industries, Interface Inc., Armstrong World Industries, and Dixie Group rose substantially on Friday after Mohawk gave a relatively optimistic outlook about the second quarter.

Mohawk, which also produces hardwood, laminate, tile and rugs, announced a $105.9 million loss in the first quarter of 2009. The per-share loss of $1.55 was considerably worse than the 85-cent loss per share that the street was expecting.

However, the company's optimism about the second quarter was enough to send the stock flying. Mohawk shares rose from $37.82 to $49.

Modular carpet maker Interface also rose from $4.17 to $4.92. The company will report its fourth quarter earnings after the bell on April 29.

Shares of Armstrong rose from $17.25 to $19.70, and shares of Dixie Group were up to $2.35 from $2.14.

Related Topics:Armstrong Flooring, Mohawk Industries, Interface