Gigamon stock (NYSE: GIMO) and Container Store stock (NYSE: TCS) both tumbled today (Wednesday) to earn "stock market crasher" status.
- Today's Stock Market Crashers: Why GIMO and TCS Took a Dive
- Dow Jones Today Looks to Bounce Back on These Top Stories
- Sears Stock (Nasdaq: SHLD) Remains on "Death Watch" After Today's Earnings
Dow Jones today, July 9, 2014: The Dow Jones Industrial Average plummeted more than 150 points on Tuesday morning, and closed the day with a 117.59-point loss. This is the largest one-day decline in nearly two months, as investors remain cautious ahead of corporate earnings season. Eight of the 10 S&P sectors were down on the day, with utilities and consumer discretionary stocks as the lone gainers.
Sears stock (Nasdaq: SHLD) slumped 4% in premarket trading this morning (Thursday) before announcing financial results for its first quarter, which ended May 3. Overall, Sears posted a loss of $2.24 per share, vastly widening from Q1 2013's loss of $1.29 per share. The numbers were way off from analysts' more optimistic expectations of a projected loss of $1.91 per share. Revenue fell 6.8% to $7.88 billion.
Not much has changed in recent years for the retailer, which merged with Kmart in 2005.
You see, today's earnings are just another "nail in the coffin" in a long line of hits to SHLD stock - in fact, they mark 28 straight quarters of revenue drops for the retailer.