Results Hurt By Weak Demand, Greater Competition
Staples earned $0.18 a share in the second quarter on sales of $5.50 billion. Analysts had expected $0.22 and $5.72 billion, respectively. Full-year guidance was also lowered. SPLS drops 16 percent before the bell on my tradeMONSTER platform.
No Sunlight For Canadian Solar
Canadian Solar reported a loss of $0.59, wider than the $0.30 loss feared by the Street. Revenue was just $348.2 million, below the $393.9 million consensus estimate. CSIQ falls 13 percent in the premarket.
Deere Cuts Outlook After Earnings Miss
Deere earned $1.98 a share, missing the $2.31 average estimate. Revenue beat, but weak sales outside of North America caused management to lower its outlook. DE shed 5 percent in early trading.