PLCE - 2 Stocks Giving Wall Street the Monday Blues
Stocks have gotten out to a strong start in 2023, so it's not surprising to see markets take a breather and give back some of those gains. After giving up some ground on Friday, major stock market indexes looked poised to fall further on Monday morning, with futures contracts suggesting declines of between 0.5% and 1%.
A couple of companies gave investors a little more to worry about, releasing comments about their latest financial results and showing the impact that the volatile economic situation has had on their respective businesses. Both Children's Place (NASDAQ: PLCE) and Tyson Foods (NYSE: TSN) were moving lower in premarket trading, and shareholders are still assessing what long-term impact the latest news from the two companies could have.
Shares of Children's Place fell sharply in premarket trading Monday morning, with the apparel stock posting a 12% decline. The kid-oriented apparel retailer warned that its fourth-quarter financial results could be considerably weaker than most investors had anticipated.
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2 Stocks Giving Wall Street the Monday Blues