Stocks traded lower on Tuesday on concerns about Italy and Greece's budgets. The Dow Jones Industrial Average traded up 0.30% to 26,727, while the S&P 500 index fell 0.02% to 2,924 and the Nasdaq Composite Index by 0.11% to 8,028.
Shares of Stitch Fix Inc. (SFIX, Financial) fell almost 30% on Tuesday morning after the company posted fourth quarter earnings per share of 17 cents on $318.3 million in revenue, reflecting 23.2% year-over-year growth. The company beat earnings estimates by 13 cents and revenue estimations were in-line.
Active clients reached 2.7 million, an increase of 25% year over year. Further, the adjusted earnings before interest, taxes, depreciation and amortization was $11.1 million.
Founder and CEO Katrina Lake said: "We are pleased to announce our expansion into the U.K. by the end of fiscal year 2019 … We believe our ability to create a uniquely personalized shopping experience is something that will resonate with consumers and brands outside of the U.S. We can’t wait to show our first U.K. clients how effortless, convenient and fun Stitch Fix is."
Gainers
- Micron Technology Inc. (MU, Financial)
- CF Industries Holdings Inc. (CF, Financial)
- Applied Materials Inc. (AMAT, Financial)
- Hewlett Packard Enterprise Co. (HPE, Financial)
Losers
- Edwards Lifesciences Corp. (EW, Financial)
- Advanced Micro Devices Inc. (AMD, Financial)
- Delta Air Lines Inc. (DAL, Financial)
- HollyFrontier Corp. (HFC, Financial)
- PepsiCo Inc. (PEP, Financial)
Global markets
The main European stock markets traded higher. The U.K.'s FTSE 100 fell 0.32%, France's CAC 40 lost 0.90%, Germany's Dax retreated 0.73% and Spain's Ibex 35 slid 1.35%.
In Asia, Japan's Nikkei 225 gained 0.10%, India’s BSE Sensex rose 0.83%, Hong Kong's Hang Seng fell 2.38% and China's Shanghai Composite gained 1.06%.
Disclosure: The author holds no positions in any stocks mentioned.
