Stock Market News: Stitch Fix Sinks; TD Ameritrade Fights Back
Wednesday morning was another downer for investors, who responded negatively to the global repercussions from weak U.S. economic data on Tuesday. Adding to the tension internationally is the ongoing debate over the U.K.'s attempt to leave the European Union, as Prime Minister Boris Johnson refines what could be a last-ditch offer of Brexit terms to the EU. As of 11:15 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 449 points to 26,124. The S&P 500 (SNPINDEX: ^GSPC) fell 48 points to 2,892, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 126 points to 7,783.
Earnings season won't officially start for another week or two, but Stitch Fix (NASDAQ: SFIX) weighed in with a look at its most recent financial performance. At the same time, as the impact of a big move in the brokerage industry continued to ripple outward, TD Ameritrade (NASDAQ: AMTD) decided to make its own push to sustain its competitive position among the financial institutions that help millions of people invest.
Stitch Fix saw its stock drop 11% Wednesday morning as investors reacted negatively to its fiscal fourth-quarter financial results. The online personal styling specialist continued to see healthy levels of growth, but some weren't satisfied with the pace of its progress.
Source Fool.com
