Courtesy of Benzinga.
Midway through trading Tuesday, the Dow traded down 1.91 percent to 16,212.11 while the NASDAQ declined 1.50 percent to 4,704.93. The S&P also fell, dropping 1.87 percent to 1,935.25.
Top Headline
Dollar Tree, Inc. (NASDAQ: DLTR) reported a loss for its fiscal second quarter and issued a weak sales forecast.
The Chesapeake, Virginia-based company posted a quarterly net loss of $98 million, or $0.46 per share, versus a year-ago profit of $121.5 million, or $0.59 per share. Excluding non-recurring items, the company’s adjusted earnings came in at $0.25 per share. Excluding all acquisition-related costs and share changes, adjusted earnings for the Dollar Tree segment came in at $0.67 per share.
Its sales climbed 48.3 percent year-over-year to $3.01 billion from $2.03 billion. However, analysts were expecting earnings of $0.62 per share on revenue of $3.04 billion.
Equities Trading UP
Trevena Inc (NASDAQ: TRVN) shares shot up 65 percent to $9.87 after the company announced positive results from its Phase 2b study of TRV130 in Acute Postoperative Pain.
Shares of RR Media Ltd (NASDAQ: RRM) got a boost, shooting up 21 percent to $7.75 following Globes report of a potential $250 million offer from SES.
Matrix Service Co (NASDAQ: MTRX) shares were also up, gaining 5 percent to $21.09 after the company reported better-than-expected Q4 earnings.
Equities Trading DOWN
Science Applications International Corp (NYSE: SAIC) shares tumbled 8 percent to $44.69. Science Applications reported better-than-expected earnings for its fiscal second quarter, but the company’s sales missed analysts’ estimates.
Shares of Dollar Tree, Inc. (NASDAQ: DLTR) were down 6 percent to $71.33 after the company reported results for its fiscal second quarter and issued a weak sales forecast. The company posted a quarterly net loss of $98 million, or $0.46 per share, versus a year-ago profit of $121.5 million, or $0.59 per share.
Qiwi PLC (NASDAQ: QIWI) was down, falling 5 percent to $24.73. Qiwi reported Q2 adjusted net profit of RUB 1,033 million ($18.6 million), or RUB 18.40 per share and adjusted net revenue of RUB 2,525 million ($45.5 million).
Commodities
In commodity news, oil traded down 6.18 percent to $46.16, while gold traded up 0.64 percent to $1,139.80.
Silver traded up 0.03 percent Tuesday to $14.59, while copper fell 1.16 percent to $2.31.
Eurozone
European shares were lower today. The eurozone’s STOXX 600 declined 2.86 percent, the Spanish Ibex Index fell 2.94 percent, while Italy’s FTSE MIB Index dropped 2.38 percent. Meanwhile, the German DAX slipped 2.77 percent, and the French CAC 40 dropped 3.03 percent, while U.K. shares fell 3.18 percent.
Economics
The Markit manufacturing PMI gained to 53.00 in August, versus a previous reading of 52.90. However, economists were projecting a reading of 52.90.
US construction spending rose 0.70 percent in July, versus economists’ expectations for a 0.60 percent growth.
The ISM manufacturing PMI slipped to 51.10 in August, versus a prior reading of 52.70. However, economists were expecting a reading of 52.60.
Posted-In: Earnings News Eurozone Futures Commodities FDA Global Econ #s
