Why Middleby Stock Dropped 10% Today

Commercial oven-maker Middleby (NASDAQ: MIDD) saw its stock close 9.9% lower on Wednesday after reporting fiscal second-quarter 2019 results that missed expectations for both sales and earnings.  

Analysts had predicted that Middleby would earn $1.76 per share on total quarterly sales of $767.4 million. Middleby's actual earnings came in a dime short at $1.66, and sales also lagged -- $761 million.  

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