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Omar Venerio
Articles (1437) 

World Capital Markets Plunge Thursday

The Children's Place falls after beating earnings

U.S. stocks were in negative territory on Thursday, with the Dow Jones falling more than 400 points. The Dow Jones Industrial Average fell 1.74% to 24,591, the S&P 500 index fell 1.77% to 2,652, and the Nasdaq Composite Index retreated 1.47% to 7,053.

Shares of The Children's Place Inc. (NASDAQ:PLCE) fell about 12% on Thursday, after the company posted third-quarter earnings of $3.07 per share, on revenue of $522.5 million, reflecting 6.6% year-over-year growth. The company fell short of earnings expectations by 2 cents, while it beat revenues estimations by $11.31 million.

The gross profit reached $204.4 million, higher than the $202.4 million in the third quarter of 2017. The operating income was $64.6 million, compared to $64.1 million in the same trimester of 2017.

In the trimester, the company returned cash to shareholders. It repurchased shares worth approximately $26 million and paid a quarterly dividend of approximately $8 million, or 50 cents per share.

Looking ahead to the fourth quarter, the company expects total net sales between $547 million and $552 million. For the year, it projects total net sales be in the range of $1.955 to $1.96 billion and 24 cents per share in earnings, with an adjusted operating margin of 7.7% to 7.8%.


• L Brands Inc.​ (NYSE:LB)

• Edwards Lifesciences Corp. (NYSE:EW)

• Hewlett Packard Enterprise Co. (NYSE:HPE)

• Perrigo Company PLC (NYSE:PRGO)


• Fluor Corp. (NYSE:FLR)

• Marathon Oil Corp. (NYSE:MRO)

• Concho Resources Inc. (NYSE:CXO)

• Cimarex Energy Co. (NYSE:XEC)

Global markets

The main European stock markets traded lower. The U.K.'s FTSE 100 fell 2.56%, France's CAC 40 slid 2.79%, Germany's Dax dipped 2.94% and Spain's Ibex 35 retreated 2.41%.

In Asia, Japan's Nikkei 225 lost 1.91%, India’s BSE Sensex fell 1.59%, Hong Kong's Hang Seng slid 2.47% and China's Shanghai Composite dipped 1.68%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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