U.S. and Europe stocks slightly tumbled early on Tuesday following the terrorist attacks in Brussels, Belgium. However, investors rallied and S&P 500 and Dow Jones Industrial Average ended the day close to breaking even, falling 0.1% and 0.2%, respectively, at day’s end.
On an individual stock basis, investors and traders are going to want to keep an eye on the following stocks as the day progresses: Nike Inc (NYSE:NKE), Red Hat Inc (NYSE:RHT) and Five Below Inc (NASDAQ:FIVE).
Here’s what’s feeding the moves in these companies:
Nike Inc (NKE)
Nike looked to open Wednesday pretty weakly following mixed third-quarter results.
Nike earnings of 55 cents per share were a huge improvement on the year-ago quarter’s 45 cents per share, and ended up soundly beating expectations of 48 cents per share.
Sales, however, seemed to be weighing on Wall Street’s mind. Revenues of $8.03 billion in revenue were up just 8% year-over-year, and actually fell under the analyst bar of $8.2 billion.
Even then, there was some good news on the sales front. For instance, on a currency-neutral basis, revenues were actually up 14% YoY. Additionally, Nike’s athletic footwear and apparel slated for delivery from March 2016 through July 2016 were 12% higher compared to orders in the year-ago quarter.
Still, NKE stock was set to open Wednesday trading off 5%.
Red Hat Inc (RHT)
The open source software provider was also hit in after hours trading, despite the company posting a quarterly earnings report that exceeded expectations.
Red Hat’s fourth quarter included earnings of 52 cents per share, which beat the Wall Street consensus estimate by 5 cents. The company benefited from growing interest in its cloud technology and open source offering.
Additionally, Red Hat reached a milestone in its full-year revenue, becoming the first open source provider to reach $2 billion in revenue for a fiscal year.
RHT projects EPS in the range of $2.22 and $2.26 on revenue of $2.38 billion, topping analysts estimates of $2.19 EPS and $2.36 billion revenue.
All that wasn’t enough to lift sentiment on the stock, however, as shares were set for a 4% decline at Wednesday’s open.
Five Below Inc (FIVE)
Lastly, specialty teen retailer Five Below sank in after-hours trading Tuesday after posting its Q4 results.
Five Below’s shares were heading lower despite some pretty positive results. The company reported better-than-expected earnings at 77 cents per share, ahead of the analyst consensus of 76 cents per share. Quarterly revenue totaled $326.4 million, beating Wall Street expectations by almost $3 million.
What might be weighing on investors was FIVE guidance for fiscal year 2017, as projected EPS of $1.27 to $1.31 per share saw the upper end of the range touch analyst expectations for $1.31.
FIVE stock looks to open Wednesday off 5%.