U.S. stock markets closed slightly down on Monday trading, after a pretty volatile session ahead of the FOMC meetings, with big banking stocks offsetting the 1.17 percent decline in Apple Inc. AAPL.
After the market closed, Ascena Retail Group Inc ASNA reported its Q4 financial results. Revenue of $1.81 billion, up 54.7 percent year-over-year, beat estimates by $40 million, but EPS of $0.08 fell $0.08 short of the Street’s expectations. In addition, management guided for Q1 EPS in the $0.16 to $0.21 range, well below expectations for $0.38. The company envisions full-year guidance EPS of $0.60-$0.65, versus a $0.69 estimate, and sales of $6.9 $7 billion, also lower than consensus of $7.06 billion. Shares traded down 24.1 percent in after-hours.
SeaWorld Entertainment Inc SEAS tumbled roughly 10.5 percent, after trimming its dividend by more than 52 percent, to $0.10 per share, and announcing this would be the last payment before suspending it.
Oclaro, Inc. OCLR slipped about 5.7 percent after-hours. The decline followed the company’s announcement that it would offer 13 million newly-issued shares of common stock. Management said it intends to use the proceeds for general purposes.
Finally, there’s Encana Corp (USA) ECA, down more than 5 percent since the market closed, driven by the announcement of a public offering of 107 million shares. The company said half of the net proceeds will be used to fund a portion of next year’s capital program, and the other half to pay down debt.
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