U.S. equities declined Wednesday as geopolitical tensions rose following President Donald Trump’s comments that he was preparing for a military strike in Syria. The S&P 500 Index fell 0.6%, the Dow Jones Industrial Average was down 0.9% and the Nasdaq Composite slipped 0.4% by day’s end.
Here’s how they did:
American Water Works Company Inc (AWK)
American Water Works announced a major acquisition late Wednesday.
The largest publicly traded U.S. water and wastewater utility company announced that it has agreed to buy Pivotal Home Solutions from Southern Company Gas, which is a subsidiary of Southern Company.
The deal will set American Water Works back $365 million in cash, which includes estimated working capital. The acquisition will happen through the company’s American Water Enterprises (AWE) subsidiary.
Pivotal Home Solutions is a home warranty business that operates in 18 states with roughly 1.2 million customer contracts, offering coverage for a number of home appliances, heating and cooling systems, as well as lines in and around a home.
“The employees of Pivotal Home Solutions, like those in American Water’s HOS group, are focused on providing outstanding customer service, as evidenced by both of our organizations achieving the Better Business Bureau’s highest rating.” said Susan Story, president and CEO of American Water Works.
AWK stock gained a fraction of a percentage after the bell.
QuinStreet Inc (QNST)
QuinStreet announced its preliminary third-quarter results yesterday.
The company — a leader in performance marketing products and technologies — says it projects revenue of more than $115 million, a growth of more than 45% compared to the year-ago quarter. Adjusted EBITDA is slated to be more than 8% of the company’s revenue.
QuinStreet made no acquisitions during the quarter. The quarterly earnings call is slated for May 1 and will include the company’s fourth-quarter outlook, as well as its guidance for the rest of fiscal 2018.
“Our strong and improving financial performance continues to be driven by good results for our clients and media partners, and by our significant competitive advantages,” commented Doug Valenti, CEO of QuinStreet.
“QuinStreet’s business model and relationships with clients are based on the performance of our marketing and media programs for them. That means both consumers and our clients must be satisfied for us to sustain our business, let alone grow revenue. We believe that our financial results are evidence of the continuing success of our model and results in media and with clients,” added Valenti.
QNST stock skyrocketed 16.4% after hours on Wednesday.
Zumiez Inc. (ZUMZ)
Zumiez announced its March results late yesterday.
The apparel retailer said that its total net sales for the five-week period that ended April 7, 2018 yielded sales of $82.3 million, marking a 14.7% gain compared to the $71.7 million from the five-week period that ended April 1, 2017.
Zumiez added that its comparable sales for the five-week period of March to early April this year was 12.6% higher than in the year-ago five-week period. It only had a comparable sales increase of 1.1% back then.
ZUMZ stock shares surged 4.6% after Wednesday’s market close.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.