Markets plummet on disappointing GDP

Disappointing growth of the nation's gross domestic product sent the markets tumbling during the midday with Dow plummeting 126 points to 17,982. Nasdaq plunged 50 points to 5,004.

On the upside

GoPro (Nasdaq: GPRO) reported sharply higher first quarter earnings and revenue that surpassed analyst expectations and announced plans to acquire Kolor.

XPO Logistics (NYSE: XPO) will acquire Norbert Dentressangle in a deal valued at approximately $3.53 billion.

First quarter earnings slipped for Genworth Financial (NYSE: GNW) but the results were better than expected.

On the downside

Stratasys (Nasdaq: SSYS) warned that first quarter earnings and revenue would fall short of analyst expectations and forecast full year results below estimates as well.

Lumber Liquidators (NYSE: LL) fell to a loss for the first quarter and announced the resignation of chief financial officer Daniel E. Terrell. The Justice Department is also investigating the company for possible criminal charges.

U.S. Steel (NYSE: X) fell to a greater than expected first quarter loss as revenue dropped.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 14 points to 2100. Bitcoin held steady at $225.

About this Entry

This page contains a single entry by published on April 29, 2015 9:51 AM.

GDP disappoints, markets open lower was the previous entry in this blog.

Lower close despite Fed's downgrade of economic outlook is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12