Why 3D Systems, Windstream Holdings, and AmerisourceBergen Slumped Today
Thursday was a generally down day for the stock market, but none of the major benchmarks made particularly large moves in either direction. The Dow Jones Industrials generally outperformed the S&P 500 and Nasdaq Composite, with weakness in key technology stocks playing an important role in holding the tech-heavy Nasdaq down. Absent market-moving, big-picture news, most investors kept their focus on individual stocks. Bad news hit several companies hard, and 3D Systems (NYSE: DDD), Windstream Holdings (NASDAQ: WIN), and AmerisourceBergen (NYSE: ABC) were among the worst performers on the day. Below, we'll look more closely at these stocks to tell you why they did so poorly.
Shares of 3D Systems plunged 21% after the maker of 3D printing hardware reported its second-quarter financial results. The company eked out a slight revenue gain of just 1%, but both that figure and adjusted earnings fell short of what investors had wanted to see. In addition, 3D Systems cut its guidance for the full 2017 year, including reductions of 2 percentage points from the top end of its expected revenue growth range and expectations for no growth from 2016 earnings levels. The revolution in 3D printing has been slower in coming than most investors had expected, and 3D Systems in particular hasn't been as big of a beneficiary of interest in the field as once seemed likely. Until the company can demonstrate its ability to lead the industry, 3D Systems will have a hard time returning to its glory days.
Image source: 3D Systems.
Source: Fool.com
