Why Hostess Brands, 3D Systems, and PG&E Slumped Today
Friday was a good day for the stock market, and major market benchmarks posted modest gains to finish a positive week at record levels. The U.S. economy continued its positive momentum, with the key consumer segment showing signs of strengthening. Consumer confidence numbers came in at their highest level in more than a decade, and signs of progress in Washington on moving tax policy and other domestic agenda items forward have market participants excited about the sustainability of the eight-year-old bull market. Yet some individual stocks suffered bad news that sent their shares lower. Hostess Brands (NASDAQ: TWNK), 3D Systems (NYSE: DDD), and PG&E (NYSE: PCG) were among the worst performers in the market on the day. Let's take a closer look to see what made these stocks do so poorly.
Hostess Brands dropped 11%, after the maker of Twinkies and other snack-food items said its chief executive officer will retire. Bill Toler will step down on March 1, unless the company successfully finds a replacement before then. He will remain on the board of directors, but investors are worried that the move comes at a critical time in the company's turnaround. Stock analysts following the company also weighed in, with UBS downgrading the stock to "sell" and cutting its price target to $11 per share. Toler has been an instrumental part of pulling Hostess through some tough times, but the company needs further improvement to reach its full potential.
Image source: Hostess Brands.
Source: Fool.com
3D Systems Corp. Stock
Our community is currently high on 3D Systems Corp. with 4 Buy predictions and 2 Sell predictions.
Based on the current price of 3.38 € the target price of 7 € shows a potential of 106.98% for 3D Systems Corp. which would more than double the current price.
