On Tuesday trading, U.S. stock market indexes reversed the downward trend. The Dow Jones Industrial Average traded more than 50 points higher, S&P 500 index rose 0.11% to 2,677 while the Nasdaq Composite Index retreated 0.19% to 7,068.
Two stocks which fell heavily were The Buckle Inc. (BKE, Financial) and Ferroglobe PLC (GSM, Financial).
Shares of The Buckle fell almost 7% after the company posted third-quarter earnings of 42 cents per share on $215.11 million in revenue, reflecting a 4.1% year-over-year decline. The company fell 4 cents short of earnings estimates and $3.96 million short of revenue expectations.
Net sales decreased from $224.3 million in the prior-year quarter. Comparable store net sales decreased 1.4%. Further, online sales rose 8.8% to $25.5 million.
Shares of Ferroglobe PLC (GSM, Financial) fell more than 60% on Tuesday after announcing third-quarter results. The company had breakevern earnings and $526.84 million in revenues, a 16.7% year-over-year growth. The company fell 15 cents short of earnings estimates and $37.17 million short of revenue expectations.
Earnings before interest, taxes, depreciation and amortization were $45 million, down from $130.9 million in the second quarter. The adjusted EBITDA margin was 8.5%, down from 14.8% in the second quarter.
The operating profit was $14.3 million, almost half the $27.3 million registered in the year-ago quarter.Â
Disclosure:The author holds no positions in any stocks mentioned.
