Diana Linn on Skechers Dropping 23% Following Earnings Report | NECN Market Analysis

Skechers Drops 23% on 24% Earnings Per Share Decline

Diana Linn, client service associate at Adviser Investments, has the market analysis for Friday, July 20. We saw fractional losses (less than 0.1%) across the Dow Jones Industrial Average, S&P 500 and NASDAQ Composite indexes today. There were a few earnings reports to note: Although General Electric (ticker: GE) beat quarterly expectations—by just $0.01 per share—its stock closed the day down 4%. GE’s power division continues to struggle, but its strong aviation and health care units have partially offset those challenges. Meanwhile, Skechers’ stock dropped 23% on news of a 24% decline in earnings per share versus the second quarter of 2017. Next week, we’ll be watching for earnings from Alphabet, Whirlpool, Verizon and Boeing as well as reports on new and existing home sales and consumer sentiment.

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