Exxon Mobil Corporation (NYSE:XOM) was the biggest loser among blue-chips thanks to falling oil prices and a downgrade from Cowen. The oil and gas company’s stock rating shifted to Market Perform from Outperform, and its target price dropped to $75 from $100. The company isn’t planning on cutting back on natural gas spending, and to make matters worse, crude oil futures were down more than 1%.
The share price faced a crude reality, dropping 1.4% to $79.01.
National Beverage Corp (NASDAQ:FIZZ), makers of La Croix sparkling water, saw its stock plunge after a bizarre earnings report late Thursday. The beverage-maker reported fiscal third-quarter earnings per share of $0.53, far below estimates of $0.76, and the $220.89 million in quarterly revenue was down about 3% from a year earlier. CEO Nick Caporella had an unusual explanation. “Negligence nor mismanagement nor woeful acts of God were not the reasons,” Caporella said in a statement. “Much of this was the result of injustice.”
Just or otherwise, investors weren't feeling thirsty. The share price was down 15% to $58.27.
Costco Wholesale Corporation (NASDAQ:COST) bulked up Friday after reporting second-quarter earnings that surpassed Wall Street expectations. The big-box retailer posted net income of $2.01 per share on net sales of $35.4 billion late Thursday, up from $32.3 billion a year ago. That comfortably beat estimates of $1.69 per share on net sales of $35.7 billion.
The supermarket chain jumped 5.1% to $227.82.
Eventbrite Inc (MYSE:EB) stock plummeted after the platform offered a disappointing first-quarter outlook late Thursday. The ticketing and event company projected revenue between $80 million and $84 million, well below the average analyst forecast of $91.1 million.
Investors left the party, sending the share price down 25% to $24.46.
Vail Resorts Inc (NYSE:MTN) stock was chilling after the resort operator posting quarterly earnings late Thursday ahead of Street expectations. The Colorado-based company earned $5.02 per share, beating estimates by $0.19 on revenue of $849.6 million, versus consensus estimates of $840.4 million. Despite lowering 2019 guidance, the share price is riding high.
The stock was up 7% to $216.55.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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