Why NetApp, Briggs & Stratton, and Vipshop Holdings Slumped Today

Thursday was a bad day for stocks, as a combination of terrorist attacks in Barcelona and a troubled political situation domestically put a damper on market sentiment. The Dow, S&P 500, and Nasdaq Composite all fell between 1% and 2% on the day, ramping up volatility as investors start to wonder whether the market will suffer a correction during the historically difficult month of September. Adding to the gloom was bad news from a number of individual companies. NetApp (NASDAQ: NTAP), Briggs & Stratton (NYSE: BGG), and Vipshop Holdings (NYSE: VIPS) 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 NetApp fell 7% despite the company reporting fairly favorable results in its fiscal first-quarter financial report on Wednesday night. The storage technology specialist said that product revenue rose 10% from the previous year's period, with sales of the company's innovative all-flash array nearly doubling. Yet even though overall net revenue growth of 3% and adjusted earnings results were better than expected, some investors are still nervous that extremely strong competition both from established industry players and newer up-and-coming entrants in the space will force NetApp to up its game if it wants to make the most of its opportunity in the booming industry.

Image source: NetApp.

Source: Fool.com