Breakout

Barclays lower after HFT charges, Bed Bath & Beyond bloodbath and Philip Morris getting smoked

Kevin Chupka
Breakout

Time for your daily dose of Trending Tickers, the stocks that you're tracking as measured by Yahoo Finance ticker searches:

Barclays (BCS) is getting hit by 7% after the British bank was charged with fraud by New York AG Eric Schneiderman. Scheiderman says Barclays lied to investors over the number of high-frequency traders using it's dark pool platform, known as LX. The AG's civil suit claims Barclays falsified marketing material, in essence selling the idea that the bank would protect investors from predatory trading behavior even as it did exact opposite. Schneiderman says Barclays, as a broker, claimed to be routing orders to whatever exchanges offered the best terms when in fact some 90% of all orders went directly into Barclay's own dark pool. A Barclay's spokesperson says the bank takes the charges very seriously... obviously Wall Street does as well.

Bed Bath & Beyond (BBBY) is a facing a bloodbath after the company missed earnings estimates by a penny last night. Bed Bath & Beyond posted EPS of $0.93, a penny shy of estimates on lighter than expected sales. Once a growth company Bed Bath... is now struggling to stand still, earning the same as last year with comps barely above zero. The company's guidance suggests earnings for the current quarter will come in between $1.08 and $1.16 per share, short of the $1.20 estimates. After growing EPS by more than 20% for the last five years Bed Bath... has hit the wall with predictably painful results for investors. Shares are down more than 30% in 2014 to date.

Philip Morris International (PM) is getting vaporized today after cutting estimates for the year. The international spin-off of the old US MO company, Philip Morris says it will earn between $4.87 and $4.97 per share this year. Previously Philip Moris had been expected to take in $5.09 to $5.19. The company blamed currency conversion and reduced share repurchases for the shortfall. The reality is more secular for the smoking kings as evidence by the company's purchase of British e-cigarette maker Nicocigs. Philip Morris didn't disclose a price, saying it was "immaterial." As is it's wont, Wall Street is deciding for itself what matters and what doesn't. Today PM shares are getting whacked by a rather material 2.5%.

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