Keurig Green Mountain
A disappointing quarter sent shares of Keurig Green Mountain tumbling. The company is cutting its workforce by five percent as it grapples with the sliding sales of its brewers and single-serve coffee pods. Earnings actually topped estimates, but revenue missed. Shares were down as much as 27 percent in initial after-hours trading. During the regular session the stock was down two percent to $74.98.
Tesla’s loss wasn’t as wide as expected and revenue managed to top consensus, but it lowered its car delivery guidance for the year. Investors couldn’t look past that key figure. Shares slipped in initial after-hours trading. During the regular session the stock was up one and a half percent to $270.13
Priceline Group hit a new high on strong results. The travel firm booked more hotel rooms and rental cars at the start of the summer travel season. That helped it beat analyst estimates for sales and earnings. The strong results came despite the shrinking euro to dollar exchanged rate, which weighed on its bottom line. Shares surged five percent to $1,351.21 , just below the all-time closing high.
Lumber Liquidators is still reeling from allegations that its hardwood flooring from China contains a carcinogen. The company swung to a surprise loss as sales fell more than expected, despite heavy discounting. It also says it expects California will file a claim against it because of those allegations. Shares tumbled twenty-eight percent to $13.27.
Chesapeake posted a big loss and that sent shares tumbling. This as concerns mount over debt and heavy spending, despite low energy prices. The company did raise its production outlook, but that didn’t seem to help. Shares tumbled twelve percent to $7.03.
Genworth Financial also saw its shares fall after the company’s CEO said it will probably not sell its entire life and annuity business. The insurer may look for buyers of parts of those businesses, which complicates the company’s goals of selling assets to reduce debt. Shares were down twenty percent to $5.65.
Ralph Lauren’s earnings came in better than expected, but foreign exchange impacts weighed on sales. A retail environment with heavy discounting and weak shopper traffic also played a role in those mixed quarterlies. Shares were off one percent to $121.50.