Dollar Tree Reports Weak Earnings, Joins Tesla, Arcos Dorados And Other Big Stocks Moving Lower On Wednesday

U.S. stocks were mixed, with the Dow Jones index surging more than 100 points on Wednesday.

Shares of Dollar Tree, Inc. DLTR fell sharply during Wednesday’s session after the company reported worse-than-expected fourth-quarter financial results and issued first-quarter EPS guidance below estimates.

Dollar Tree reported fourth-quarter FY23 sales growth of 11.9% year-on-year to $8.63 billion, missing the analyst consensus estimate of $8.67 billion. Adjusted EPS of $2.55 missed the consensus estimate of $2.65, according to data from Benzinga Pro.

Dollar Tree shares dipped 14.5% to $128.00 on Wednesday.

Here are some other big stocks recording losses in today’s session.

• NaaS Technology Inc. NAAS declined 20.1% to $1.19 after the company announced a $6 million registered direct offering.
• Comtech Telecommunications Corp. CMTL dipped 19% to $4.6599. Comtech named John Ratigan as Interim Chief Executive Officer.
• loanDepot, Inc. LDI dipped 15.9% to $2.1350 following weak quarterly results.
• Rackspace Technology, Inc. RXT tumbled 13.3% to $1.9150 after the company issued first-quarter guidance below estimates. The company also announced refinancing transactions.
• ZIM Integrated Shipping Services Ltd. ZIM dipped 12.4% to $10.22 following weak quarterly sales.
• Neumora Therapeutics, Inc. NMRA fell 12.2% to $15.24.
• Tevogen Bio Holdings Inc. TVGN dipped 8.8% to $6.09.
• ADC Therapeutics SA ADCT fell 8.8% to $4.06 following quarterly results.
• Solowin Holdings SWIN declined 8.6% to $26.61.
• Arcos Dorados Holdings Inc. ARCO dipped 8.4% to $10.95 following downbeat quarterly earnings.
• Ichor Holdings, Ltd. ICHR fell 8% to $39.27 after announcing a $125 million public offering of ordinary shares.
• Nukkleus Inc. NUKK fell 5.4% to $1.06.
• Tesla, Inc. TSLA shares declined 2.4% to $173.22 after Wells Fargo downgraded the stock from Equal-Weight to Underweight and lowered its price target from $200 to $125.

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