Stocks on Wall Street closed in the red Monday after starting higher and joining in the journey south after the bell was home appliance group Whirlpool Corp (NYSE:WHR).
The company lost 7.4% to US$169 after the bell after the firm reported worse-than- expected third quarter earnings and cut its guidance.
Earnings per diluted share were UAS$3.72 compared to $3.10 in the same prior-year period.
The firm revised its full-year operating cash flow guidance to a range of between US$1.55bn to US$1.6bn and free cash flow guidance to around US$900mln. In the regukar session, shares plunged 10.68% to US$163.15.
Elsewhere and in a similar vein, shares in HNI Corp (NYSE:HNI) tanked over 18% to US$34.60 after the office furniture manufacturer posted numbers that beat Wall Street expectations, but delivered weak guidance for the fourth quarter. On Tuesday, shares lost around 19% to US$34.25.
In other news, Zions Bancorp (NASDAQ:ZION) shares fell 0.91% to US$45.97 in extended trading after the company posted third-quarter results.
The group reported EPS (earnings per share) of $0.72, which was worse than the analyst estimate of $0.73. In the regular session, shares nudged 0.67% higher to US$46.70 each.
Last but not least, shares in American Tower Corp (NYSE:AMT), the wireless and broadcast firm, fell 1.26% to US$137 each. The shares have closed down slightly during the regular session on Monday. On Tuesday, shares shed 0.74% to US$137.73 each.
Sears will no longer sell Whirlpool products, further weakening the struggling retailer's grasp on appliance saleshttps://t.co/MJ9l8E88Zb
— Wall Street Journal (@WSJ) 24 October 2017