Shares of Deckers Outdoor (DECK -6.8%) take a beating today after Sterne Agee cut it to...

|About: Deckers Outdoor Corporation (DECK)|By:, SA News Editor

Shares of Deckers Outdoor (DECK -6.8%) take a beating today after Sterne Agee cut it to Underperform due to anticipated lower FY guidance when it reports next week. The firm doesn't expect Asian and European sales to improve and for U.S. sales to be impacted by higher prices and lack of innovation in the UGG Classic segment. Price target cut to $38.