Dick's Sporting Goods shares tumble after weak Q2 results
Dick’s Sporting Goods shares fall about 22% after the company reports second-quarter earnings of $3.53 per share on sales of $5.587 billion, both below analyst estimates.
U.S. stocks traded higher this morning, with the Nasdaq Composite gaining over 150 points on Tuesday.
Following the market opening Tuesday, the Dow traded up 0.14% to 53,493.53 while the NASDAQ climbed 0.73% to 26,169.74.
The S&P 500 also rose, gaining, 0.42% to 7,684.82.
Leading and Lagging Sectors Information technology shares jumped by 1% on Tuesday.
In trading on Tuesday, energy stocks fell by 0.9%.
Top Headline Dick’s Sporting Goods (NYSE: DKS ) shares dipped around 22% on Tuesday after the company reported worse-than-expected second-quarter financial results.
Dick’s Sporting Goods reported quarterly earnings of $3.53 per share which missed the analyst consensus estimate of $3.77 per share.
The company reported quarterly sales of $5.587 billion which missed the analyst consensus estimate of $5.650 billion.
Equities Trading UP Xiao-I Corp ( NASDAQ: AIXI ) shares shot up 239% to $1.55.
Xiao-I, last week, announced it will change its ADS ratio from 1—to—60 to 1—to—420 ordinary shares and disclosed it received a non—compliance notice from Nasdaq.
Shares of CID HoldCo Inc (NASDAQ: DAIC ) got a boost, surging 166% to $4.60 after jumping 306% on Monday.
DAIC is a distressed microcap facing Nasdaq delisting and loan-default risks, according to company filings made last week.
TNL Mediagene ( NASDAQ: TNMG ) shares were also up, gaining 78% to $0.71 the company was granted continued Nasdaq listing subject to conditions.
Equities Trading DOWN Flash Sports & Media Holdings, Inc. ( NASDAQ: FLZH ) shares dropped 35% to $0.14 after dipping 77% on Monday.
Shares of SelectQuote Inc ( NYSE: SLQT ) were down 34% to $0.52 after the company announced downbeat fourth-quarter results.
Generation Income Properties Inc (NASDAQ: GIPR ) was down, falling 33% to $0.51 after the company announced the sale of its six dollar general properties.
Commodities In commodity news, oil traded down 3.7% to $81.86 while gold traded down 0.2% at $4,687.50.
Silver traded down 1.3% to $67.735 on Tuesday, while copper rose 0.4% to $6.6280.
Euro zone European shares were mostly higher today.
The eurozone’s STOXX 600 gained 0.3%, while Spain’s IBEX 35 Index rose 0.1%, London’s FTSE 100 fell 0.1%, Germany’s DAX gained 0.6%, while France’s CAC 40 rose 0.1%.
Asia Pacific Markets Asian markets closed mostly higher on Tuesday, with Japan’s Nikkei 225 gaining 0.50%, Hong Kong’s Hang Seng index slipping 0.02%, China’s Shanghai Composite rising 0.19% and India’s BSE Sensex gaining 0.37%.
Economics The FHFA house price index came in unchanged from the previous month in June, compared to market estimates of a 0.2% gain.
The S&P Case-Shiller home price index increased 2.1% year-over-year in June, up from 1.6% in the previous month and higher than market estimates of 1.7%.
U.S. building permits surged by 4.3% month-over-month to an annual rate of 1.433 million in July.
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