Crocs shares plummet as Heydude sales weakness continues

1 hour and 20 minutes ago

The shares of Crocs, Inc. (CROX) fell Tuesday after the company’s third-quarter profit margin was overshadowed by weak sales from its smaller Heydude brand.

The footwear company reported revenue of $1.06 billion, just above Visible Alpha estimates, while earnings of $199.8 million also beat estimates of $187.3 million.

Investors’ concerns appeared to stem from sales of Heydude shoes, a company Crocs acquired in 2022.

Heydude’s revenue fell short of estimates by $204 million, and the company also adjusted its full-year projections, expecting Heydude’s revenue to decline by a larger margin than previously reported.

CEO Andrew Rees said Crocs has seen positive results from its investments in new marketing for the brand, but noted that Heydude’s “recent performance and the current operating environment indicate that it will take longer than we initially planned for the brand to turn a corner.” to make. “

The company said it expects fourth-quarter sales to be roughly flat to up slightly year-over-year, as the 2% growth in Crocs sales will likely be offset by a 4% to 6% decline in turnover of Heydude.

Crocs shares fell 19% on Tuesday, trading at their lowest level since February.

–Aaron McDade

Stanley Black & Decker falls after weak earnings figures

3 hours and 33 minutes ago

Shares of Stanley Black & Decker (SWK) tumbled after the toolmaker posted worse-than-expected results and cut its guidance, citing declining consumer demand and a slowdown in the auto sector.

The company reported third-quarter diluted earnings per share (EPS) of $0.60, while revenue fell 5.1% to $3.75 billion. Analysts polled by Visible Alpha expected $0.87 and $3.80 billion respectively.

Sales at the Tools & Outdoors division fell 3% to $3.26 billion as volumes fell in a weak consumer and DIY environment. Sales at the Industrial unit fell 18% to $488 million due to what the company called “market softness in the automotive sector.”

Stanley Black & Decker now expects adjusted earnings per share between $3.90 and $4.30, compared to its previous guidance of $3.70 to $4.50.

Shares of Stanley Black & Decker fell 8% in afternoon trading, entering negative territory for the year.

–Bill McCol

DR Horton stumbles over weak results, prospects

5 hours and 6 minutes ago

Shares of homebuilder DR Horton ( DHI ) fell Tuesday morning, leading the S&P 500, after the company’s quarterly results and projections for fiscal 2025 both fell short of analysts’ expectations.

For the fourth quarter of fiscal 2024, DR Horton reported revenue of $10.00 billion, down from $10.50 billion the same time last year and below the consensus estimate of $10.22 billion from analysts compiled by Visible Alpha. The homebuilder reported net income of $1.28 billion, down from $1.51 billion and below the $1.37 billion analysts expected.

DR Horton’s fiscal 2025 revenue outlook also fell short of analyst estimates. The company said it expects revenue in the range of $36 billion to $37.5 billion, well below expectations of $39.39 billion.

Executive Chairman David Auld said sales this quarter were slower than the company expected. “Although mortgage rates have fallen from their peak earlier this year, many potential homebuyers expect rates to be lower in 2025,” Auld said.

DR Horton shares fell 10% to trade at their lowest level since July.

–Aaron McDade

Ford shares fall after earnings: key levels to watch

7 hours and 36 minutes ago

Shares in Ford (F) fell 7% in premarket trading after the automaker posted third-quarter profit late Monday that was below Wall Street expectations and cut its full-year outlook.

The stock is consolidated within an ascending triangle, a chart pattern that can signal a decline if formed within an established downtrend.

Investors should pay attention to the key support levels on the Ford chart around $9.50, $8.70 and $7.50. A break above key resistance at $11.30 could act as a catalyst for a bullish trend reversal.

Read the full technical analysis piece here.

–Timothy Smit

Futures point to a lower open for major indexes

8 hours and 6 minutes ago

Futures tied to the Dow Jones Industrial Average fell 0.4%.

S&P 500 futures fell 0.2%.

Nasdaq 100 futures fell 0.1%.