Boyd Gaming Corporation (NYSE:BYD), owner and operator of 16 gaming entertainment properties, reported a third quarter profit of 7 cents per share, down from 10 cents in the same quarter last year. Net revenue fell 6.6% year over year, as customers spent less money even as visitation levels were about the same. Boyd shares fell over 12% in Tuesday trading.
Apparel and footwear company Under Armour (NYSE:UA) posted earnings of 52 cents per share for the third quarter, up from 51 cents in the same quarter last year. Revenue jumped just over 16% year over year, and the company boosted its revenue and earnings guidance for the year. Despite the strong report, investors were in sell-the-news mode, after the stock hit a new 52 week high yesterday at 33 dollars and 31 cents per share. On Tuesday, shares retreated off of Monday's levels, and were down about 9% on the day.
Automotive retailer Sonic Automotive (NYSE:SAH) reported third quarter earnings of 17 cents per share, which compares to a loss of 67 cents in the same quarter last year. Revenue was down about 6% year over year. Sonic shares were off over 10%.
And WMS Industries (NYSE:WMS), a manufacturer serving the gaming industry, reported record results for the third quarter, with earnings of 34 cents per share and a 9% increase in revenue year over year. WMS shares had hit a new 52 week high yesterday at 50 dollars and 11 cents per share, and retreated more than 8 and a half percent in Tuesday trading.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.