Why J.Jill, Finish Line, and Freeport-McMoRan Slumped Today
The major benchmarks ended the session slightly higher on Tuesday after struggling for direction much of the day, as investors focused on geopolitical concerns and continued flooding in Texas in the aftermath of Hurricane Harvey. Reports that North Korea fired intermediate-range missiles over Japan gave investors pause, increasing worries of a potential stock market correction. Adding to the uncertain mood was bad news from a number of individual companies. J.Jill, Inc. (NYSE: JILL), The Finish Line, Inc. (NASDAQ: FINL), and Freeport-McMoRan Inc. (NYSE: FCX) 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 J.Jill fell 15.8% after the company reported its second-quarter earnings results. The women's apparel brand grew net sales to $181.4 million, an increase of 9.9% over the prior-year quarter, the result of comparable-store sales that jumped 7.8%. Income from operations, excluding one-time items, jumped nearly 37% to $25.6 million, and diluted earnings per share rocketed 53% higher, while adjusting for non-recurring expenses produced a more reasonable 21% gain.
President and CEO Paula Bennett commented on the results, saying, "We are pleased to deliver another quarter of strong sales and earnings growth. Our second quarter performance demonstrated the continued strength of our omnichannel model and the disciplined, data-driven approach we take to our business."
Source: Fool.com
Freeport-McMoRan Inc. Stock
With 13 Buy predictions and not the single Sell prediction the community is currently very high on Freeport-McMoRan Inc..
With a target price of 50 € there is a slightly positive potential of 5.98% for Freeport-McMoRan Inc. compared to the current price of 47.18 €.
