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Dollar Tree Reports Weak Earnings, Joins Tesla, Arcos Dorados And Other Big Stocks Moving Lower On Wednesday

Published 13/03/2024, 14:22
© Reuters. Dollar Tree Reports Weak Earnings, Joins Tesla, Arcos Dorados And Other Big Stocks Moving Lower On Wednesday

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

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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Now Read This: NVIDIA To Rally Around 20%? Here Are 10 Top Analyst Forecasts For Wednesday

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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