Shares of Skechers U.S.A., Inc. SKX slumped during Friday’s mid-day session following the release of the company’s mixed fourth-quarter financial results.
Skechers reported a 4.4% year-over-year increase in fourth-quarter revenue to $1.96 billion, missing the consensus estimate of $2.03 billion. However, the company posted quarterly earnings of 56 cents per share, surpassing analyst estimates of 54 cents per share.
As a result, Skechers shares plummeted 6.9% to $59.21 on Friday.
Several other stocks made notable moves in today’s mid-day session.
Rising Stocks
- Intelligent Bio Solutions Inc. INBS shares skyrocketed 77.6% to $4.28 after the company announced preliminary second-quarter revenue of $0.76 million.
Falling Stocks
- Cingulate Inc. CING saw its shares plunge 48.8% to $1.7206 after announcing a public offering of 3.750 million shares at $2.00 per share.
Market Plummet: A Dismal Day for Stock Prices
- Cadrenal Therapeutics, Inc. CVKD saw a significant plunge of 19.1% to $1.1404.
- Recruiter.com Group, Inc. RCRT declined by a hefty 19% to $1.15.
- Gen Digital Inc. GEN experienced a substantial fall of 17.5% to $19.73 following its worse-than-expected third-quarter financial results and a disappointing revenue forecast for FY24.
- WNS (Holdings) Limited WNS suffered a significant drop of 16.7% to $59.99, attributed to the termination notice served by one of its top five revenue-contributing customers on Jan. 31.
- Exponent, Inc. EXPO fell by 15.7% to $75.77, a consequence of disappointing earnings.
- Hesai Group HSAI witnessed a 14.2% decrease to $3.45.
- Liberty Broadband Corporation LBRDA dipped 13% to $69.39.
- Atlassian Corporation TEAM shares declined by 12.8% to $222.08 after the company’s release of its second-quarter financial results.
- Charter Communications, Inc. CHTR tumbled by 12.6% to $333.95 following its fourth-quarter results. The company missed EPS estimates and reported a loss of 62,000 residential Internet customers.
- Kiora Pharmaceuticals, Inc. KPRX shares fell by 12.4% to $0.7413. Kiora Pharmaceuticals shares had surged around 54% on Thursday after the company’s announcement of a private placement of up to approximately $45 million.
- Altice USA, Inc. ATUS witnessed an 8.7% decrease to $2.2620.
- Beazer Homes USA, Inc. BZH experienced a 7.6% decline to $29.91 following its downbeat earnings.
- Revelation Biosciences, Inc. REVB shares dipped 7.2% to $2.95. Revelation Biosciences shares had plummeted around 64% on Thursday after the company announced the pricing of a $6.2 million offering.
- Dolby Laboratories, Inc. DLB witnessed a 5.2% decline to $80.42 following its quarterly results.
- Apple Inc. AAPL shares fell by 1.7% to $183.78. Although Apple reported better-than-expected earnings and revenue for its first quarter, the company revealed a revenue decline in China.
Now Read This: Dow Falls 150 Points; US Economy Adds 353,000 Jobs In January
