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MARKETS LIVE BLOG:

STOCKS RISE AS TECHS REVIVE, WITH NETFLIX EARNINGS ON TAP

Tesla shares slide to 52-week low; stock is down roughly 40% year-to-date

Tiffany’s Q3 Results Were Unimpressive: Stock Drops ~12%

Adrian Stevens
Updated
Tiffany’s Q3 Results Were Unimpressive: Stock Drops ~12%

Tiffany stock (TIF) slumped ~12% on November 28 following the company’s unimpressive third-quarter results for the period that ended on October 31. Tiffany’s top-line growth rate decelerated sequentially during the third quarter. Meanwhile, reported net sales fell short of Wall Street’s expectation. Management stated that the lower tourist spending, mainly from Chinese tourists, in the Americas and Hong Kong weighed on its sales growth rate. However, increased spending by local customers supported the company’s top-line growth.

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