PHX - Why Is Fabrinet (FN) Stock Down Today?
2024-04-24 09:25:09 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Fabrinet (NYSE: FN ) stock is down on Wednesday after announcing the date for its next earnings report .
Fabrinet announced that it will release earnings for its fiscal third quarter of 2024 on May 6. This will cover earnings for the quarter that ended on March 29, 2024.
Fabrinet will release its earnings after markets close that day. The company will also hold a conference call at 4:30 p.m. Eastern to discuss the results. A webcast will also be available on its website afterward.
What That Means for FN Stock
Fabrinet doesn’t have preliminary earnings ready, but we do know what Wall Street is looking for in fiscal Q3. That earnings per share of $2.11 alongside revenue of $716.91 million.
For the record, both of those would be an increase over its prior results. The manufacturing company reported EPS and revenue of $1.94 and $665.28 million in its fiscal third quarter of 2023.
Investors are no doubt excited about the company’s upcoming earnings report. Depending on how it performs, it could be a major positive or negative catalyst for Fabrinet shares.
FN stock is down 1% as of Wednesday morning after seeing larger drops during pre-market trading. When markets closed yesterday, the shares were also down 19.8% year-to-date.
Investors who are seeking out even more of the most recent stock market stories are going to want to stick around!
InvestorPlace is home to all of the hottest stock market news that traders will want to read about on Wednesday! That includes what’s happening with shares of Evotec (NASDAQ: EVO ) stock, Zapata Computing (NASDAQ: ZPTA ) stock and PHX Minerals (NYSE: PHX ) stock this morning. All of that news is ready to go at the links below!
More Stock Market News for Monday
- Why Is Evotec (EVO) Stock Down 33% Today?
- Why Is Zapata Computing (ZPTA) Stock Up 17% Today?
- Trade of the Day: PHX Minerals (PHX) Stock Is a Hidden-Gem Buy
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
More From InvestorPlace
- The #1 AI Investment Might Be This Company You’ve Never Heard Of
- Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.
- It doesn’t matter if you have $500 or $5 million. Do this now.
The post Why Is Fabrinet (FN) Stock Down Today? appeared first on InvestorPlace .