Why Domino's Pizza, MercadoLibre, and Blackhawk Network Holdings Slumped Today
Thursday marked the beginning of third-quarter earnings season in many investors' eyes, with big bank stocks reporting their latest results. Amid a backdrop of solid economic conditions in the U.S., market participants have generally been optimistic about the outlook for the stock market, and although major market benchmarks began the day with a modest move lower, stocks generally recovered to finish mixed, and most of the popular stock market indexes, including the Dow and S&P 500, remain at or near all-time record highs. Yet some stocks reported bad news today that sent their shares lower. Domino's Pizza (NYSE: DPZ), MercadoLibre (NASDAQ: MELI), and Blackhawk Network Holdings (NASDAQ: HAWK) were among the best-known stocks posting declines today. Let's take a closer look to see what made these stocks lose ground.
Domino's Pizza finished the day with nearly a 4% loss, after the pizza-delivery giant reported its third-quarter financial results. The company's results looked good on their face, with domestic same-restaurant sales climbing 8.4% and adjusted earnings per share rising by nearly a third. Yet some investors were still disappointed that growth rates slowed from previous quarters. Growth in international operations also wasn't as strong, with comps climbing by just over 5%. CEO Patrick Doyle emphasized that Domino's remains on track with its long-term strategy, but growth-oriented investors want the pizza chain to sustain faster sales and profit gains for as long as possible.
Image source: Domino's Pizza.
Source: Fool.com
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