Friday, November 8, 2013

Tesla plunges on outlook; A&F loses its cool

NEW YORK (MarketWatch) — Shares of Tesla Motors Inc. and Abercrombie & Fitch Co. dropped in premarket trade Wednesday following their quarterly results.

Decliners

Shares of Abercrombie & Fitch Co. (ANF)  dropped nearly 7%. The teen retailer late Tuesday reported a 12% drop in third-quarter sales and 14% plunge in total same-store sales. Abercrombie revised its full-year guidance, now expecting per-share earnings of between $1.40 and $1.50.

Reuters Enlarge Image The Tesla Model S at the Frankfurt Motor Show

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Tesla Motors Inc. (TSLA)  shares slid 12%. The electric-car company late Tuesday forecast little change in fourth-quarter adjusted earnings compared to the third quarter, which weighed on shares. The company beat estimates as it narrowed its third-quarter loss to 32 cents a share from a loss of $1.05 a share a year earlier. Read a recap of the company's third-quarter earnings call here.

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Hospira Inc. (HSP)  shares gained 7%. The company on Wednesday posted a 58% surge in third-quarter profit as revenue edged up 1.4%, with adjusted profit and sales beating expectations.

Class A shares of Zillow Inc. (Z)  rose 5%. The company, which bills itself as a real-estate and home-related marketplace, reported record revenue of $53.3 million in the third quarter, beating analyst estimates.

Top Tickers Trending

$WFM Whole Foods Market Inc. (WFM)  is scheduled to report earnings after the bell Wednesday and Wall Street was recently expecting a per-share profit of 31 cents on sales of $3.04 billion. New Yorkers will be looking for more details on the company's first Brooklyn store, which is said to feature a rooftop garden.

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