30.87 +0.17 (0.55%)
After hours: 7:58PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||29.72 - 32.20|
|52 Week Range||22.64 - 43.08|
|PE Ratio (TTM)||26.93|
|Earnings Date||Apr 18, 2018 - Apr 23, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||48.50|
What on earth is going on in the sneakers game? Skechers USA (SKX) plunged 27% Friday, falling $11.38 to a six-month low of $30.70, after warning that the second quarter is going to be weaker than expected. The first quarter was good, the balance sheet is solid, overseas sales are growing at a nice clip—China was up 30% in the quarter—and the stock is not expensive.
Shares of Skechers U.S.A. Inc. plummeted 27% in Friday trading after the company gave weak second-quarter guidance and was downgraded to neutral from outperform at Wedbush. Wedbush analysts cut Skechers’ (SKX) price target to $34 from $46. Skechers said a shift in shipments to the back half of the year, weather and challenges in the Middle East are issues affecting the outlook.
Steve Madden beat on earnings and revenue when it reported Friday morning. Skechers stock plunged after the trendy shoe maker maker reported weak guidance.
As earnings season is starting to pick up pace, here’s a look at some the top stock trades in the stock market. With shares of Apple Inc. (NASDAQ:AAPL) down more than 4% Friday, it’s no wonder tech is having a tough day. Many investors are trying to figure out what to make of Apple’s 7% slide over the past three trading sessions.
In this part of the series, we’ll discuss another key valuation metric—the enterprise-value-to-sales multiple. A higher EV-to-sales multiple indicates that a company is overvalued. To gauge whether these companies are correctly valued, we’ll also look at their respective sales growth.
Let's check out the Yahoo Finance charts of the day. General Electric (GE): Shares getting a pop here, up 4.5%. The beaten down conglomerate beat on earnings and revenue, and reaffirmed its guidance as well, boosted by its aviation, health care and transportation units. Skechers (SKX): Shares tumbling here, down around 27%. Despite beating on both earnings and sales, the shoe retailer’s current quarter guidance disappointed investors. Pinnacle Foods (PF): Shares getting a boost here, up 9.5%. Activist fund Jana Partners revealed a 9.1% stake in the food company, and said it will seek create value at the company and may shake up the board. For more on today's big stock movers check out the Final Round, live at 3:55 p.m. ET, right here on Yahoo Finance.