Despite the Dow Jones Industrial Average eclipsing the 22,000 milestone on Wednesday, several companies are not joining in on the party. Here is a look at Wednesday's worst performers.
Shares of U.S's second-largest movie theater chain AMC Entertainment (AMC - Get Report) were plummeting over 24% during midday trading after it posted a larger-than-expected loss in the second quarter.
Lower over 15% in midday trading is the stock of sporting goods retailer Big 5 Sporting Goods Corp (BGFV - Get Report) . The retailer reported a top and bottom line miss for its second quarter, and offered weak third quarter guidance.
Big 5 posted earnings of 13 cents per share, missing projections for 19 cents per share. Revenue came in at $243.7 million missing estimates for $251.41 million.
Shares of Pioneer Natural Resources (PXD - Get Report) , an oil and gas exploration and production company, were falling over 11% during midday trading after it said it would cut its 2017 capital budget by $100 million to save money at a time of weak oil prices.
The Irving, TX.-based company said when reporting second quarter results that it lowered its full-year production growth guidance to 15%-16% from 15%-18% over drilling delays. It also lowered its oil growth guidance to 17-18% from 24%-28%.
Shares of Nordstrom, Inc. (JWN - Get Report) were also declining during midday trading, lower over 4.8%, after Women's Wear Daily reported the company's discussions with potential buyout partners remain at the informal stage because they are not overly eager to go in on a deal, adding that that the window on a possible deal this year is closing.
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