2 Stocks Fall on Earnings Report

GuruFocus.com
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- By Omar Venerio

The U.S. stock market opened lower on Tuesday, with the three main indexes in red, but the Dow and the Nasdaq turned into the green.

Shares of The Hain Celestial Group Inc. (HAIN) were down almost 2% in morning trading on the back of the company reporting better-than-expected earnings for its fourth quarter. EPS of 43 cents beat expectations by 3 cents and revenue of $725.1 million beat by $5.63 million but is down 1.7% year over year. Irwin D. Simon, founder, president and CEO, said, "We are pleased to have achieved sales growth in all of our business segments on a constant currency basis in the fourth quarter, despite an ever-changing operating environment for food manufacturers and retailers."


Best Buy Co. Inc. (BBY) fell more than 12% as the company posted second-quarter EPS of 69 cents on revenue of $8.94 billion, beating profit estimates by 6 cents per share and revenue by $280 million. Hubert Joly, Best Buy chairman and CEO, said, "We are pleased today to report strong top- and bottom-line growth for the second quarter of fiscal 2018." The main reasons behind comparable sales growth of 5.4% was a stronger consumer demand for technology products.

Gainers

  • United Rentals Inc. (URI).

  • Coty Inc. (COTY).

  • Incyte Corp. (INCY).

  • Brown-Forman Corp. (BF-B).

  • NRG Energy Inc. (NRG).

  • Raytheon Co. (RTN).

  • United Technologies Corp. (UTX).

  • Rockwell Collins Inc. (COL).

  • L3 Technologies Inc. (LLL).

  • Jacobs Engineering Group Inc. (JEC).

Losers

  • Best Buy.

  • Under Armour Inc. (UAA).

  • Under Armour Inc. (UA).

  • Nike Inc. (NKE).

  • Freeport-McMoRan Inc. (FCX).

  • Darden Restaurants Inc. (DRI).

  • MetLife Inc. (MET).

  • HCA Healthcare Inc. (HCA).

  • Mattel Inc. (MAT).

  • Foot Locker Inc. (FL).

Global markets

The main European stock markets traded lower. The FTSE 100, German DAX, French CAC 40 and the IBEX 35 fell an estimated 1%.

In Asia, markets closed in red territory. Japan's Nikkei Index closed down as well as India's BSE Sensex and Hong Kong's Hang Seng. Only China's Shanghai Composite Index traded higher.

Disclosure : The author holds no positions in any stocks mentioned.

This article first appeared on GuruFocus.


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