Tuesday Market Movers (CRMB, FOSL, LOPE)
While the S&P 500 Index rose around 0.8 percent Tuesday, the following companies saw much larger gains:
Crumbs Bake Shop (NASDAQ: CRMB): This baked good seller announced Monday that it struck a deal with Starbucks (NASDAQ: SBUX) to sell Starbucks coffee and tea in Crumbs Bake Shops. The bakery company said it believes that these drinks will boost baked goods sales. Crumbs Bake Shop will begin to sell the products in its New York stores and then expand to other locations.
Shares of Crumbs Bake Shop traded up about 60 percent on Tuesday.
Fossil (NASDAQ: FOSL): Fossil traded up after the company beat analyst estimates for earnings and met analyst estimates for revenues. The company reported earnings of $0.92 per share on revenues of $636.1 million. On average, analysts expected earnings of $0.79 per share and revenues of $635.09 million. Fossil experienced record performances and double-digit growth in sales and earnings. Moreover, the company saw growth in all of its geographical segments.
Fossil traded up about 33 percent on Tuesday.
Grand Canyon Education (NASDAQ: LOPE): This post-secondary education provider traded higher Tuesday after it reported favorable second-quarter results. The company posted earnings of $0.35 per share on revenue of $119.13 million. On average, analysts estimated that the company would report earnings of $0.27 per share on revenue of $115.1 million. In addition, the company raised its full year outlook for revenue and earnings.
Grand Canyon Education traded up about 24 percent on Tuesday.
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