Consumer Good Stocks to Watch (SKX, PG, CL)
Skechers USA, Inc. (NYSE:SKX) plunged 18.20% to $19.33 after the company said it earned $36.4 million, or 74 cents a share on revenue of $554.6 million in its third-quarter, missing the analysts’ estimates of $1.02 cents a share and revenue of $572.1 million.
Operating expenses for the quarter rose 31% to $199 million.
The stock was downgraded to Hold from Buy by Capstone.
The stock went down more than 34% year-to-date. The 52-week range of the stock is $19-$44.90. The stock made its fresh 52-week low of $19.
The Procter & Gamble Company (NYSE:PG) added 0.17% to $63.19. The company said Wednesday its first-quarter earnings fell 7% to $3.08 billion, or $1.02 a share, from $3.3 billion, or $1.06 a share, in the year-ago period.
Wall Street analysts expected the consumer products giant to earn $1 a share on revenue of $20.27 billion, according to a survey of analysts by FactSet Research.
For its second quarter, Procter & Gamble expects earnings of $1.05 a share to $1.11 a share, with net sales growth of 3% to 5%. Wall Street analysts expect earnings of $1.11 a share.
The stock opened at $63.13 and was trading within the range of $63.06-$63.56.
Colgate-Palmolive Company (NYSE:CL) dropped 0.77% to $74.92. The company said Thursday its third-quarter net income rose to $619 million, or $1.21 a share, from $590 million, or $1.12 a share, in the year-ago period.
Analysts polled by FactSet Research were looking for earnings of $1.19 a share, on average, with sales of $4 billion.
The stock went down more than 9% year-to-date.