By early afternoon, shares had plummeted 8.9% to $101.51.
Over the three months to March, the watchmaker earned $1.11 a share, 6 cents lower than analysts surveyed by Thomson Reuters forecast. Additionally, for its second quarter, management guided for net income between 90 cents and 97 cents a share, below consensus of $1 a share.
Must Read: Warren Buffett's 10 Favorite Growth StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates FOSSIL GROUP INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: "We rate FOSSIL GROUP INC (FOSL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
- You can view the full analysis from the report here: FOSL Ratings Report
WATCH: More market update videos on TheStreet TV | More videos from Joe Deaux
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts