Skechers Drops 23% on 24% Earnings Per Share Decline
Diana Linn, client service associate at Adviser Investments, has the market analysis for Friday, July 20. We saw fractional losses (less than 0.1%) across the Dow Jones Industrial Average, S&P 500 and NASDAQ Composite indexes today. There were a few earnings reports to note: Although General Electric (ticker: GE) beat quarterly expectations—by just $0.01 per share—its stock closed the day down 4%. GE’s power division continues to struggle, but its strong aviation and health care units have partially offset those challenges. Meanwhile, Skechers’ stock dropped 23% on news of a 24% decline in earnings per share versus the second quarter of 2017. Next week, we’ll be watching for earnings from Alphabet, Whirlpool, Verizon and Boeing as well as reports on new and existing home sales and consumer sentiment.
Daniel Wiener Chairman Jeffrey DeMaso Director of Research Chris Keith Senior Vice President, Fixed Income Elizabeth Kesselman Vice President Jim Lowell Partner, Chief Investment Officer Charles Toole Vice President, Portfolio Manager Elizabeth Laprade Research Analyst July 27, 2018