Market Focus

Express

Shares of the apparel retailer Express tumbled today on a weak outlook. The chain said it expects profits to slide by more than half because of deep discounts and a decline in store traffic. Earnings and revenue for the current quarter also missed estimates. The stock fell 12 percent to $16.05.

CSX Corp.

CSX Corp. warned that severe weather will weigh on earning. The rail operator said the harsh conditions challenged its operations and volume and it expects earnings to be lower by 10 cents a share. Still shares of CSX Corp rose a fraction to $28.89.

PulteGroup & Toll Brothers

Shares of PulteGroup and Toll Brothers fell after Credit Suisse downgraded the homebuilders. The firm cut its rating on both stocks to “neutral” from “outperform” because of lackluster demand heading into the spring selling season. Shares of PulteGroup fell more than one percent to $19.67 and Toll Brothers fell slightly to $37.77.

Zogenix

Zogenix, the maker of the controversial painkiller Zohydro say its shares plunge today on news that Purdue Pharma is moving ahead with an abuse resistant rival to the painkiller. Zohydro has faced heavy opposition from experts who say the drug is too powerful and potentially addictive. The stock plunged 23 percent to $3.51.

Krispy Kreme

Krispy Kreme reported earnings after the market close. The doughnut maker said profit more than tripled on improved sales. The company also boosted its earnings forecast and increased its share buyback program. Shares rose after the report. The stock ended the regular session up about 2.5 percent to $19.88.

This entry was posted in Market Focus. Bookmark the permalink.

Leave a Reply