Dollar Tree Reports Weak Earnings, Joins Tesla, Arcos Dorados And Other Big Stocks Moving Lower On Wednesday
U.S. stocks were mixed, with the Dow Jones index surging more than 100 points on Wednesday.
Shares of Dollar Tree, Inc. (NASDAQ:DLTR) fell sharply during Wednesday’s session after the company reported worse-than-expected fourth-quarter financial results and issued first-quarter EPS guidance below estimates.
Dollar Tree reported fourth-quarter FY23 sales growth of 11.9% year-on-year to $8.63 billion, missing the analyst consensus estimate of $8.67 billion. Adjusted EPS of $2.55 missed the consensus estimate of $2.65, according to data from Benzinga Pro.
Dollar Tree shares dipped 14.5% to $128.00 on Wednesday.
Here are some other big stocks recording losses in today’s session.
- NaaS Technology Inc. (NASDAQ:NAAS) declined 20.1% to $1.19 after the company announced a $6 million registered direct offering.
- Comtech Telecommunications Corp. (NASDAQ:CMTL) dipped 19% to $4.6599. Comtech named John Ratigan as Interim Chief Executive Officer.
- loanDepot, Inc. (NYSE:LDI) dipped 15.9% to $2.1350 following weak quarterly results.
- Rackspace Technology, Inc. (NASDAQ:RXT) tumbled 13.3% to $1.9150 after the company issued first-quarter guidance below estimates. The company also announced refinancing transactions.
- ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) dipped 12.4% to $10.22 following weak quarterly sales.
- Neumora Therapeutics, Inc. (NASDAQ:NMRA) fell 12.2% to $15.24.
- Tevogen Bio Holdings Inc. (NASDAQ:TVGN) dipped 8.8% to $6.09.
- ADC Therapeutics SA (NASDAQ:ADCT) fell 8.8% to $4.06 following quarterly results.
- Solowin Holdings (NASDAQ:SWIN) declined 8.6% to $26.61.
- Arcos Dorados Holdings Inc. (NYSE:ARCO) dipped 8.4% to $10.95 following downbeat quarterly earnings.
- Ichor Holdings, Ltd. (NASDAQ:ICHR) fell 8% to $39.27 after announcing a $125 million public offering of ordinary shares.
- Nukkleus Inc. (NASDAQ:NUKK) fell 5.4% to $1.06.
- Tesla, Inc. (NASDAQ:TSLA) shares declined 2.4% to $173.22 after Wells Fargo downgraded the stock from Equal-Weight to Underweight and lowered its price target from $200 to $125.
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