Market recap: Dollar General shares drop after earnings miss

August 28, 2016 at 4:15AM
FILE - In this Wednesday, May 18, 2016, file photo, a woman walks past a Dollar General store in Methuen, Mass. On Thursday, Aug. 25, 2016, Dollar General reports financial results. (AP Photo/Charles Krupa, File)
Dollar General shares fell 14 percent on Thursday and were off 17 percent for the whole week. (The Minnesota Star Tribune)

Sales slump: Dollar General dropped 14 percent, to $78.84 Thursday after its earnings and revenue fell short of analysts' forecasts. The retailer cited aggressive competition, lower food prices and a reduction of food stamp coverage in several U.S. states. Shares closed the week at $75.50.

Tiffany jumps: Tiffany & Co. rose 7 percent, to $73.92 Thursday after reporting a slight increase in fiscal second-quarter profit that beat analyst estimates as the upscale jeweler was able to lower costs to offset a drop in sales. Shares closed Friday at $73.56.

Deal bounce: Cancer drugmaker Medivation jumped 20 percent, to $80.49 Monday after Pfizer said it would buy the company for $14 billion. Pfizer is buying Medivation for its heavily used prostate cancer drug Xtandi. Medivation shares closed the week at $80.35.

Uproar: Drugmaker Mylan fell 5 percent, to $45.62 Tuesday amid growing outrage over the skyrocketing price increases for Mylan's EpiPen product, which is used treat people who may be suffering from a potentially life-threatening allergic reaction. The stock closed Friday at $43.03.

On sale: Young adult clothing retailer Express plunged 25 percent, to $12.06 Wednesday after the company slashed its full-year forecast and said same-store sales and traffic were down year over year. Shares closed the week at $11.44.

Taxed: Intuit, which makes TurboTax and QuickBooks software, fell 4 percent, to $109.40 Wednesday after the company's full-year forecasts came in below analysts' estimates. Intuit closed Friday at $110.32.

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