Closing Bell: More Losses for the Nasdaq; Tech Selloff Stretches Into Another Session
The Nasdaq ended with losses for the third time this week as a selloff in tech stretched into another day. The Dow closed lower and snapped a two-day record-making streak. Energy also weighed on markets as crude ended under $45 for a second day in a row. Bob Evans Farms Inc. (BOBE) fell after exceeding analysts' estimates for earnings in its recent quarter but reporting sales that missed. Guidance for fiscal 2018 also fell short of estimates. Mattel Inc. (MAT) - Get Report declined again as analysts weighed in on the toymaker's decision to slash its quarterly dividend, lower second-quarter sales forecasts, and refrain from issuing annual guidance. Both D.A. Davidson and UBS downgraded the stock. Harley-Davidson Inc. (HOG) - Get Report rose after Citi analysts predicted June sales would increase "meaningfully." The firm bases its forecasts on recent dealer checks this month.
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