Market Overview

Dow Dips 1.1%; Container Store Shares Fall On Weak Outlook

Dow Dips 1.1%; Container Store Shares Fall On Weak Outlook

Toward the end of trading Tuesday, the Dow traded down 1.10 percent to 16,804.38 while the NASDAQ declined 1.08 percent to 4,406.88. The S&P also fell, dropping 0.96 percent to 1,945.95.

Leading and Lagging Sectors

In trading on Tuesday, utilities shares were relative leaders, up on the day by about 0.67 percent. Top gainers in the sector included Companhia Energética de Minas Gerais (NYSE: CIG), up 9.3 percent, and CPFL Energia S.A. (NYSE: CPL), up 3.1 percent.

Industrials shares fell by 1.20 percent on Tuesday. Top losers in the sector included AGCO (NYSE: AGCO), down 10.2 percent, and Manitex International (NASDAQ: MNTX), off 8.4 percent.

Top Headline

SodaStream International (NASDAQ: SODA) issued a downbeat third-quarter revenue forecast.

The company projected Q3 revenue of around $125 million, versus analysts’ estimates of $154.1 million It expected operating income to be roughly $8.5 million, versus estimates of $17 million.

Equities Trading UP

CalAmp (NASDAQ: CAMP) shares shot up 20.61 percent to $19.90 after the company reported better-than-expected Q2 earnings.

Shares of Silicon Motion Technology (NASDAQ: SIMO) got a boost, shooting up 4.83 percent to $27.35 after the company raised its Q3 sales growth outlook.

Chimerix (NASDAQ: CMRX) shares were also up, gaining 7.35 percent to $33.78 following the report of additional patients in Spain being monitored for Ebola infection.

Equities Trading DOWN

Shares of SodaStream International (NASDAQ: SODA) were down 21.07 percent to $21.76 after the company issued a downbeat Q3 revenue forecast.

The Container Store Group (NYSE: TCS) shares tumbled 23.66 percent to $16.71 after the company lowered its forecast for the year and reported downbeat second-quarter revenue.

Aegion (NASDAQ: AEGN) was down, falling 10.20 percent to $19.80 after the company named Charles R. “Chuck” Gordon as President and Chief Executive Officer.


In commodity news, oil traded down 1.34 percent to $89.13, while gold traded up 0.38 percent to $1,211.90.

Silver traded down 0.17 percent Tuesday to $17.20, while copper rose 0.03 percent to $3.04.


European shares were lower today. The eurozone’s STOXX 600 fell 1.53 percent, the Spanish Ibex Index tumbled 2.02 percent, while Italy’s FTSE MIB Index declined 1.73 percent. Meanwhile, the German DAX slipped 1.34 percent and the French CAC 40 declined 1.81 percent while UK shares fell 1.04 percent.


The ICSC-Goldman Store Sales Index rose 0.1% in the week ended Saturday versus the earlier week.

The Johnson Redbook Retail Sales Index fell 0.3% in September versus August.

The number of job openings surged 23% y/y to 4.84 million in August, according to the JOLTS data. However, economists were expecting job openings to reach 4.70 million in the month.

Data on consumer credit for August will be released today.


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