It was an ugly end to July for the financial markets.
Stocks in the U.S. sold off hard, with the Dow falling more than 300 points and the S&P 500 and Nasdaq each losing 2%.
And in addition to the broad market sell-off, a number of stocks had absolutely terrible days.
Valeant Pharmaceuticals, the Canadian pharmaceutical company that has been seeking to acquire Botox maker Allergan, lost more than 6% after cutting its full-year earnings and sales outlook.
Yelp shares fell more than 11% despite the company on Wednesday night reporting a quarterly profit for the first time since it went public.
Shares of 3D Systems, which makes 3-D printers, fell 10% after the company's earnings and revenue both came in short of expectations.
L-3 Communications were down more than 12% after reporting preliminary second-quarter earnings and announcing that it is conducting an internal review because of accounting matters in the company's Aerospace Systems segment. The company said it expects to incur a pretax charge of $84 million and a related reduction in net sales of $43 million.
Adidas shares listed in New York were down more than 15% after the German athletic apparel company issued a statement that said the "recent trend change in the Russian rouble as well as increasing risks to consumer sentiment and consumer spending from current tensions in the region point to higher risks to the short-term profitability contribution from Russia/CIS."
In the second quarter, Adidas said it expects to report sales that grew 10%, though sales in its TaylorMade-adidas Golf segment fell 18%, yet another poor indicator for the health of golf in the U.S.
U.S.-listed shares of French telecom giant Alcatel-Lucent fell more than 10% after the company reported second-quarter revenues of €3.28 billion, up 0.7% over last year.
Shares of Sprint also got hammered, falling 5% after French telecom company Iliad said it offered to acquire T-Mobile in a deal valuing the company at $36.20 per share. T-Mobile shares were up 6% following the news. Sprint and T-Mobile have long been discussing a potential merger.
A couple massive companies didn't crash, but they aren't having great days either.
ExxonMobil fell more than 4% after the oil giant reported second-quarter production fell 5.7% to 3.84 million barrels of oil equivalent, short of the 3.96 that was forecast by analysts. The company's financial results were better, as earnings per share and revenue beat expectations.
Samsung, which doesn't trade in the U.S., last night reported quarterly profit that fell sharply from the prior year, with the company blaming its poor results on increased competition in the smartphone space, as well as high production costs for its flagship Galaxy S5 smartphone.
Kellogg shares lost more than 6% after the company reported second-quarter sales that were in line with expectations, while its U.S. Morning Foods segment, which includes its flagship cereal brands, saw sales fall 4.9%.
The Chicago purchasing managers index, or PMI, report earlier this morning came in well below expectations. The index came in at 52.6, down from 62.6 in May, and lower than the 63.0 that was expected by economists, and this dropped marked the single biggest monthly fall since October 2008.Bonus Round
After the market close, wearable camera maker GoPro announced its first quarterly earnings since going public in June, and despite beating on the top and bottom lines, the stock got crushed, falling 10% in after hours trade.
More From Business Insider
- Windstream Shares Explode Higher
- Companies With Happy Employees Have Stocks That Beat The Market
- Remember When Obama Said 'Buying Stocks Is A Potentially Good Deal'?
- The Weekend Is Over And Stocks Are Falling
- El Pollo Loco Shares Soar On Market Debut
- Investment & Company Information