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Stock Market Roundup, May 11: M & SNAP Crash After Earnings
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An afternoon rebound was not enough to lift stocks out of the red on Thursday, and retail stocks across the board were dragged down following the latest round of weak earnings reports. Speaking of earnings reports, investors were also buzzing after Snap Inc.’s first ever report failed to impress and sent shares crashing.
On Thursday, shares of department store giant Macy’s Inc. (M) are tumbling, down over 13% in mid-morning trading after the retailer reported weak first quarter financial results before the bell, missing analyst estimates on both the top and bottom lines.
Shares of Snap Inc. (SNAP - Free Report) opened more than 21% lower on Thursday after the app maker’s first earnings report as a publicly-traded company failed to impress investors. But was the report even worse than the first reports from Facebook and Twitter ?
Stanley Black & Decker (SWK - Free Report) recently beat and raised full year earnings guidance as first quarter business was robust. This Zacks Rank #1 (Strong Buy) is expected to see double digit earnings growth in 2017.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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Stock Market Roundup, May 11: M & SNAP Crash After Earnings
An afternoon rebound was not enough to lift stocks out of the red on Thursday, and retail stocks across the board were dragged down following the latest round of weak earnings reports. Speaking of earnings reports, investors were also buzzing after Snap Inc.’s first ever report failed to impress and sent shares crashing.
Zacks Rank #1 (Strong Buy) Top Movers
Value: Golden Star Resources - +4.88%
Growth: China Lodging Group (HTHT - Free Report) - +7.26%
Momentum: Vedanta Resources - +4.36%
VGM: VDNRF
Income: Paddy Power Bet - +4.23%
Major Indexes
DOW: 20,914.08 / -29.03 / -0.14%
NASDAQ: 6,115.11 / -14.03 / -0.23%
S&P 500: 2,393.78 / -5.85 / -0.24%
Top Headlines
As Macy's Stumbles After Earnings, It's Bringing Other Retailers Down With It
On Thursday, shares of department store giant Macy’s Inc. (M) are tumbling, down over 13% in mid-morning trading after the retailer reported weak first quarter financial results before the bell, missing analyst estimates on both the top and bottom lines.
Was Snap's First Earnings Report Worse Than That Of Facebook and Twitter?
Shares of Snap Inc. (SNAP - Free Report) opened more than 21% lower on Thursday after the app maker’s first earnings report as a publicly-traded company failed to impress investors. But was the report even worse than the first reports from Facebook and Twitter ?
Bull of the Day: Stanley Black & Decker
Stanley Black & Decker (SWK - Free Report) recently beat and raised full year earnings guidance as first quarter business was robust. This Zacks Rank #1 (Strong Buy) is expected to see double digit earnings growth in 2017.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>