American Eagle Outfitters (NYSE:AEO) dropped in after-hours trading after the apparel company issued guidance that missed Wall Street expectations. The Pittsburgh-based retailer projected first-quarter earnings per share of $0.19 to $0.21, compared with the average estimate of $0.24.
The stock had its wings clipped, falling 4.1% to $20.44 in extended trading after closing higher.
Micron Technology Inc (NASDAQ:MU) tumbled Wednesday following concern raised by two analysts about pricing weakness for its memory chips. Mehdi Hosseini of Susquehanna Financial revised his 2019 earnings per share estimate for the company to $6.40 from $6.59, while Cleveland Research lowered its 2019 revenue estimate to $24 billion from $25.5 billion, per TheStreet.
The stock of the widely followed tech company dipped 5.2% to close at $37.93.
Investors put the brakes on NIO Inc (NYSE:NIO) a day after the company announced a wider-than-expected fourth-quarter loss, per MarketWatch. The Chinese maker of electric vehicles, or EVs, reported a net loss of $511.5 million, or $0.49 per share. Deliveries of its flagship SUV, the ES8, have slowed.
The shares plummeted 21% to $8.
Urban Outfitters Inc (NASDAQ:URBN) shares were down after the apparel retailer announced that 2019 had gotten off to a slower start thanks to “costly mistakes” with its spring clothing lines, according to Reuters. Despite reporting adjusted quarterly profit of $0.83 per share, $0.04 above expectations, investors were somewhat wary.
The stock finished down 0.3% to $30.26.
General Electric Co's (NYSE:GE) stock is blowing in the wrong direction thanks to a presentation Tuesday in which CEO Lawrence Culp said the conglomerate anticipates “significant known headwinds” to its 2019 cash flow for its industrial division, per a Yahoo Finance report. The Boston-based company lost 4.7% on Tuesday, and losses continued Wednesday.
The share price of the beleaguered industrial company ended the day down 7.9% to $9.11.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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