Market Focus

Chesapeake Energy

Chesapeake is the latest energy company to cut back because of slumping crude prices. The company reported lower than forecast earnings and said it would cut its rig count and spending this year. The stock was one of the worst performers in the S&P 500, tumbling 9.5 percent to $17.98.

SodaStream

SodaStream’s quarterly profit topped estimates, as lower expenses offset a drop in revenue. But investors couldn’t overlook that sales drop, which was mainly due to lower demand for its at-home soda machines in the U.S. A weakening euro to dollar exchange rate also hurt revenue. Shares fizzled out, down almost nine percent to $17.25.

Lumber Liquidators

Shares of Lumber Liquidators got hammered after the company revealed it may face criminal charges from the Department of Justice for allegedly importing illegally harvested wood. The chain also said that it will be the subject of a negative profile on an upcoming episode of CBS’s “60 minutes”. Adding to the bad news, the hardwood flooring maker’s results missed on both the top and bottom lines. Shares plunged 26 percent to $50.63.

Dollar Tree

Dollar Tree managed to post earnings and revenue that topped consensus. The discount retailer’s same-store sales also rose during the quarter. It did offer a downbeat outlook as it works towards closing its deal to buy rival Family Dollar. Still, the stock rose two percent to $79.16.

Campbell Soup

Campbell Soup announced a drop in sales and profit as margins were squeezed by promotional spending and costs. The food company’s gross margins disappointed and its outlook fell blow expectations. Shares were off a few cents to close at $47.17.

American Express

American Express was one of the top performers in the Dow today. This after the company announced it will hike interest rates on some of its cards by an average of 2.5 percentage points. It’s not yet clear how many customers will be affected by the move, but some reports say more than a million cardholders will see rates rise. Shares rose more than 1.5 percent to $82.17.

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