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MarketWatch MarketPulseAug 20, 2019
Fabrinet's stock leads all NYSE losers after downbeat outlook, heads for biggest drop in 5 years
Shares of Fabrinet tumbled 17% in afternoon trading Tuesday, enough to lead all of the NYSE-listed losers, after the optical communications equipment company reported fiscal fourth-quarter results that beat expectations but provided a downbeat first-quarter outlook. The company had reported late Monday net income for the quarter to June 28 that rose to $30.7 million, or 88 cents a share, from $21.6 million, or 60 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted EPS rose to $1.00 from 81 cents, and beat the FactSet consensus of 94 cents. Revenue rose 17% to $405.1 million to top the FactSet consensus of $399.7 million. For the first quarter, Fabrinet said it expects adjusted EPS of 80 cents to 84 cents and revenue of $386 million to $394 million. The FactSet consensus as of the end of July were 96 cents for EPS and $407.3 million for revenue. Regarding the outlook, Chief Executive Seamus Grady said on the post-earnings conference call with analysts that the timing of changes to customer supply chains as they work through the restart of shipments to Huawei will temporarily hurt some of Fabrinet's optical communications business, while the industrial laser market is expected to slow down in the near term. The stock, on track for the biggest one-day drop since August 2014, has lsot 8.3% year to date, while the SPDR Technology Select Sector ETF has rallied 28% and the S&P 500 has gained 16%.

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MarketWatchAug 20, 2019
NewsWatch: Dow threatens to snap 3-day win streak as stocks stumble lower amid bond-yield slide
U.S. stocks head modestly lower Tuesday as investors contend with worries about the strength of the U.S. economy and earnings news from some of the last remaining major companies to report for the second quarter, including Dow component Home Depot.

Google Business NewsAug 20, 2019
Home Depot cuts outlook citing tariffs, lumber prices - NBC Montana
Home Depot cuts outlook citing tariffs, lumber prices  NBC MontanaHome Depot says suppliers are moving manufacturing out of China to avoid tariffs  CNBCHome Depot is bracing for tariffs: Company cuts expectations as lumber prices slide  USA TODAYHome Depot Earnings Mixed, Guidance Light, But Home Depot Stock Nears Buy Point  Investor's Business DailyHome Depot stock rises on better-than-expected profits even as the company lowers outlook on tariff worries  CNBCView full coverage on Google News

Reuters BusinessAug 20, 2019
Wall St. slips after three days of gains; Home Depot rises
Wall Street's main indexes edged lower on Tuesday after three sessions of gains, as lower Treasury yields weighed on financial stocks, offsetting a boost from Home Depot's better-than-expected quarterly earnings.

Reuters BusinessAug 20, 2019
Wall Street treads water after three-day winning streak as financials weigh
U.S. stocks were little changed on Tuesday after three sessions of gains, as lower Treasury yields weighed on financial shares, offsetting a boost from Home Depot's better-than-expected earnings.

Google Business NewsAug 20, 2019
Home Depot Cuts Sales Outlook on Tariffs, Lumber Price Deflation - Investing.com
Home Depot Cuts Sales Outlook on Tariffs, Lumber Price Deflation  Investing.com5 things to know before the stock market opens Tuesday  CNBCHome Depot is bracing for tariffs: Company cuts expectations as lumber prices slide  USA TODAYHome Depot stock rises on better-than-expected profits even as the company lowers outlook on tariff worries  CNBCHome Depot cuts full-year sales forecast  Yahoo FinanceView full coverage on Google News
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