By Sue Chang and Victor Reklaitis, MarketWatch
Abercrombie & Fitch Co. stumbled on Thursday to levels not seen in nine months as disappointing earnings combined with a weak outlook battered the stock.
Separately, trading of all Nasdaq-listed stocks, including Yahoo and Pandora, was halted for several hours due to a technical glitch.
Abercrombie & Fitch (ANF), a New York Stock Exchange-listed stock, plunged 18% to close at $38.53, the lowest since November. Before the open, the company posted quarterly profit and revenue that came in well below expectations. The teen-apparel retailer forecast current-quarter earnings per share that amounted to less than half what analysts' expected. The outlook is the second-worst of any major company, according to FactSet data.
Hewlett-Packard (HPQ) sank 13% in the wake of its weak quarterly report late Wednesday. The struggling PC maker admitted to "very disappointing" performance from its enterprise business unit. It was Thursday's worst-performing Dow component by a wide margin. H-P is listed on the NYSE and was not affected by Nasdaq's (NDAQ) problems.
Cliffs Natural Resources Inc. (CLF) shares snapped a five-session losing streak to rally 5.8%. The mining company's stock was bolstered by a rebound in key data out of China. The manufacturing purchasing managers' index rose to a four-month high of 50.1 in August. Mining companies are sensitive to Chinese economic indicators as the country is a big consumer of natural resources. Cliffs is listed on the NYSE.
GameStop Corp. (GME) jumped 9% after its quarterly profit and revenue beat expectations. The videogame retailer also provided earnings guidance for the current quarter that surpassed forecasts. GameStop is listed on the NYSE.
Peabody Energy Corp. (BTU) shares rose 6.2%. The coal company on Thursday said it named Glenn Kellow as president and chief operating officer. Kellow previously served as president of the aluminum and nickel business for BHP Billiton Ltd. Peabody is listed on the NYSE.
Top Tickers Trending
$NDAQ: Shares of Nasdaq OMX Group Inc. (NDAQ) fell 3.4% after trading of all Nasdaq-listed securities was halted for about three hours due to a problem with quote submissions. Trading resumed at 3:25 Eastern.
$YHOO: Nasdaq-listed Yahoo Inc. (YHOO) shares climbed 3.1% to close at $27.90 after data showed Marissa Mayer's company beating Google Inc. (GOOG) in Web traffic in July, a first since May 2011. But the news did not dampen buying interest in Google with the stock up 0.5%.
$DLTR: Nasdaq-listed Dollar Tree Inc. (DLTR) rose 2.5% to close at $55.45 on the discount retailer's upbeat earnings report.The dollar-store chain said sales rose amid higher customer traffic and a stronger average ticket price. Shares of peer Dollar General Corp. (DG), listed on the NYSE, gained 1.9%.
$XONE: ExOne Co. (XONE) shares fell 2.8% on the Nasdaq. The 3D printing machines company late Wednesday said it filed a registration statement with the Securities and Exchange Commission to offer 2,656,000 common shares. Of the total, 1,106,000 shares will be sold by ExOne and 1,550,000 will be sold by shareholders. FBR Capital Markets & Co. is acting as the book-running manager for the deal.
-Sue Chang; 415-439-6400; AskNewswires@dowjones.com
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(END) Dow Jones Newswires
08-22-13 1630ETCopyright (c) 2013 Dow Jones & Company, Inc.
|UPDATE: Europe stocks end at nearly 1-month low ()|
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