3 Stocks to Watch on Wednesday: A-Mark Precious Metals Inc (AMRK), Nordstrom, Inc. (JWN) and Radiant Logistics Inc (RLGT)

Most major indices were on the rise by day’s end yesterday, with cyclical cons rising 0.5% and utilities falling 1.3%. The S&P 500 Index gained 0.3%, while the Dow Jones Industrial Average edged 0.3% higher and the Nasdaq Composite was also 0.3% better by day’s end.

3 Stocks to Watch on Wednesday: A-Mark Precious Metals Inc (AMRK), Nordstrom, Inc. (JWN) and Radiant Logistics Inc (RLGT)Several companies were moving after hours Tuesday, including A-Mark Precious Metals Inc (NASDAQ:AMRK), Nordstrom, Inc. (NYSE:JWN) and Radiant Logistics Inc (NYSEMKT:RLGT).

Here’s what you should know:

A-Mark Precious Metals Inc (AMRK)

A-Mark Precious Metals took a massive hit yesterday.

The company’s revenue for its fourth quarter of fiscal 2017 came in at $1.33 billion, a 24% decline compared to last quarter’s revenue. The figure was 23% lower than what its revenue looked like in the year-ago period.

A-Mark’s earnings surged 14% to $1.2 million, or 17 cents per diluted share. The figure marked a 5% per share slip compared to the year-ago earnings of $1.2 million, or 16 cents per share.

Gross profit fell 20% to $6.1 million from $7.6 million a year ago. Gold ounces sold were down 59% year-over-year, while silver ounces fell 45% over the same period.

For its full-year 2017 results, A-Mark reported that its revenue grew 3% compared to 2016, coming in at $6.99 billion. Net income rose 24% to $7.1 million, or $1 per diluted share.

AMRK shares plummeted 14.4% after the bell Tuesday.

Nordstrom, Inc. (JWN)

Nordstrom stock popped on the company’s latest update on its desire to go private.

The retailer said that it is close to completing a deal with Leonard Green & Partners as it looks to restructure its balance sheet. The Nordstrom family owns 31.2% of the company.

If the move goes through, the Nordstrom family would sell the remaining public stock in the company. The two parties are also talking about how debt would be reduced.

Leonard Green & Partners is reportedly considering raising up to $8 billion in debt in order to acquire the 68.8% of outstanding shares not owned by the company. An “independent special committee” has been appointed to examine the offer.

Nordstrom has 349 stores in 40 states across the U.S.

JWN shares are currently up 5.4% after hours.

Radiant Logistics Inc (RLGT)

Radiant Logistics’ earnings disappointed, causing the company’s shares to sink Tuesday.

The company posted full-year 2017 net income of $2.8 million, or six cents per share, which is stronger than the $5.6 million, or 11 cents per share it lost in fiscal 2016.

On an adjusted basis, the company earned $15.8 million, or 32 cents per share. In the previous year, the company unveiled adjusted net income of $11.8 million, or 24 cents per share.

Revenue came in at $777.6 million for the year, which was weaker than the $782.6 million that Radiant Logistics raked in the previous year.

“We also continue to make progress on the acquisition front, having recently completed three tuck-in transactions with Canada-based Lomas Logistics (April 2017), Dedicated Logistics Technologies (June 2017), and Sandifer-Valley Transportation and Logistics (September 2017),” said Bohn Crain, Founder and CEO

RLGT stock declined 5.5% after the bell.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2017/09/stocks-watch-wednesday-mark-precious-metals-inc-amrk-nordstrom-inc-jwn-radiant-logistics-inc-rlgt/.

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