Buckle TANKS 8% to Lead These 5 NYSE Top Percentage Losers
Buckle, Inc. (The) Common Stock (NYSE:BKE): One company looks like it needs to buckle in and get down to business. Shares of Buckle dropped after the company’s report that same-store sales for May were underwhelming. The company may be suffering from a trend of American consumers preferring to bargain shop rather than doling out the extra money for more high-end clothes. Shares fell 8.1% on the day and closed at $39.14. They have traded in a 52-week range of $33.97 to $50.00.
Kohl’s Corporation Common Stock (NYSE:KSS): Kohl’s didn’t have much better news as it reported worse-than-expected same-store sales for May. The company said it made progress building inventory levels but warned that it expects lower units to dampen sales until the fall Back-to-School rush. Kohl’s shares were down 6.15% and closed at $45.82. They have traded in a 52-week range of $42.14 to $57.39.
Cliffs Natural Resources Inc Co (NYSE:CLF): Cliffs Natural Resources may be edging toward the cliff after BofA Merrill cut its shares from Buy to Neutral and lowered its price target from $84 to $60 with a more cautious look on iron ore. The firm is confident in Cliffs ability to lower costs and add capacity, but with weakening iron ore prices, sustained cash flow strength and a 5% dividend yield may be at risk. Cliffs shares dropped 6.09% to close at $47.78. They have traded in a 52-week range of $47.31 to $102.00.
United Rentals, Inc. Common Sto (NYSE:URI): Things aren’t looking good for United Rentals, as a bearish flag pattern became active on the daily chart when the price broke below the lower bound of the short-term bullish price channel. If the pattern continues and reaches full potential, the downside could be to the $25 area over time. Shares fell 5.81% to $34.55, and they have traded in a 52-week range of $12.81 to $47.98.
Nordstrom, Inc. Common Stock (NYSE:JWN): Both good and bad news were in store for Nordstrom, who reported better-than-forecast same-store sales for May (preliminary total retail sales for May increased 9.3% compared to the same period in fiscal 2011) but saw its shares drop. Analysts are not enthused by the company’s excuses on clearance inventory and lack of guidance, and they point to the soft channel checks as an overhang. Nordstrom shares were down 5.79% and closed at $47.37. They have traded in a 52-week range of $37.28 to $57.75.
Suntech Power Holdings Co., LTD (NYSE:STP): It may always be sunny in Philadelphia, but it’s not always sunny in China. The Commerce Department imposed 13% to 26% tariffs on Chinese wind turbine towers, the Wall Street Journal reported, after finding that Chinese firms enjoyed unfair government support. As a result of the news, Suntech Power saw shares drop 5.14% to $1.66. They have traded in a 52-week range of $1.67 to $8.18.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.