Spirit Realty Capital Inc (NYSE:SRC) rose after the company completed a reverse stock split. The net-lease real estate investment trust (REIT) invests in single-tenant, operationally essential real estate. The company said it has completed a previously announced one-for-five reverse stock split of its outstanding shares of common stock.
Shares of Spirit Realty were trading at $39.51, up almost 3.3% on the day.
READ: Ciena tops 3Q estimates as its telecommunication sales rise in North America
Tailored Brands Inc (NYSE:TLRD) shares crashed after the company cut its full-year guidance. The operator of Men's Wearhouse said sales of suits are down and the weak trend has persisted into the end of the year. The company expects full-year earnings in the range of $2.30 to $2.35 a share, down from $2.35 to $2.50 a share, because of weaker-than-anticipated comparable sales in the third quarter. Two research companies lowered their ratings on the company's stock. Zacks Investment Research downgraded shares to Sell from Hold while ValueEngine did the same earlier in the week.
Shares of Tailored Brands dropped 29.2% to $14.26.
Ciena Corporation (NYSE:CIEN) stock jumped after results of the telecommunications supplier topped estimates. Earnings per share in Ciena's fiscal fourth quarter came in at $0.53, higher than expectations of $0.48. Sales reached $899.4 million, beating the expected $862.4 million.
Ciena shares were up 9.1% at $35.07.
Contact Rene Pastor by rene.pastor@proactiveinvestors.com