Market recap: NetApp lowers forecasts, shares plummet

August 3, 2019 at 5:54AM
FILE - In this July 16, 2019, file photo a Capital One credit card is shown in a wallet in San Francisco. A security breach at Capital One Financial, one of the nation's largest issuers of credit cards, compromised the personal information of about 106 million people, and in some cases the hacker obtained Social Security and bank account numbers. (AP Photo/Jeff Chiu, File)
Capital One tumbled after the bank said a hacker gained access to the data of 100 million people. (The Minnesota Star Tribune)

Tough outlook: NetApp shares fell 20.2% to $46.04 Friday after the data storage equipment maker lowered its forecast for the first quarter and 2020, blaming a weakening macro environment.

Trucks stay hot: GM rose 2.5% to $41.35 Thursday after saying higher prices for pickup trucks and SUVs pushed profits far above what analysts were expecting. The higher prices helped overcome slowing sales. Shares closed Friday at $39.78.

Flattened: IHOP and Applebee's owner Dine Brands Global fell 6.7% to $80.71 Wednesday after slashing its financial forecast for the year. The company cut forecasts for sales at existing Applebee's and IHOP locations along with overall profit following a disappointing second-quarter earnings report. Shares closed the week at $82.53.

The goods: Procter & Gamble rose 4.4% to $121.11 Tuesday after the consumer goods company solidly beat profit and revenue forecasts for the fourth quarter. The maker of Charmin toilet paper and Tide laundry detergent reported growth in almost every category. Shares closed the week at $116.44.

What's in your data? Capital One Financial fell 7.4% to $89.78 Tuesday after the bank said a hacker gained access to the personal information of more than 100 million people. Shares closed Friday at $89.85.

Weak armor: Under Armour plunged 13.1% to $21.20 Tuesday after the sports apparel company's revenue fell short. It also expects a slight sales decline in North America this year and its overall 2019 profit outlook is weaker than what was forecast. Shares closed Friday at $19.19.

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Spencer Platt

The U.S. stock market roared back on Friday, as technology stocks recovered much of their losses from earlier in the week and bitcoin halted its plunge, at least for now.

Attendees of Frostbike made their way through the convention Saturday at the Quality Bike Products campus in Minneapolis. ] (AARON LAVINSKY/STAR TRIBUNE) aaron.lavinsky@startribune.com Frostbike 2016 was held at the Quality Bike Products Campus on Saturday, Feb. 27, 2016 in Bloomington, Minn.
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