The U.S. stock market traded in red territory on the first day of the week. Three stocks that registered downside movement are Halliburton Co. (HAL, Financial), Whirlpool Corp. (WHR, Financial) and Mercadolibre Inc. (MELI, Financial).
Shares of Halliburton traded almost 2.5% lower after the company announced its results for the third quarter of fiscal 2018. It posted diluted earnings per share of 42 cents that beat expectations by 5 cents. Revenue of $5.44 billion also beat analysts' expectations and registered an increase of 42.0% year over year.
Jeff Miller, president and CEO, said the company achieved a strong quarter, and he was pleased with the results. “Our North American business is hitting on all cylinders and our international business proved resilient in a challenging environment. These results demonstrate why Halliburton is the execution company.”
Income from continuing operations reached $365 million, or 42 cents per diluted share, higher than the figure registered for the second quarter of 2017, $28 million, or 3 cents per diluted share. It was higher than the adjusted income from continuing operations for the second trimester of $201 million, or 23 cents per diluted share.
Moreover, shares of Whirlpool lost around 6.5% in the after-hours session on the back of the company announcing third-quarter results. It posted EPS of $3.83, short of analysts' expectations by 7 cents, on revenue of $5.42 billion which also could not beat expectations, by $70 million. Further, revenue growth was 3.2% year over year.
In other news, analysts Brad Erickson and Elliot Arnson were more bearish on Mercadolibre as they downgraded the company to “Sector Weight” from “Overweight.” Shares traded almost 4% in the red and continued falling in after-hours trading.
Disclosure: The author holds no position in any stocks mentioned.
