In this report: MF Global (NYSE:MF), 3D Systems Corp. (NYSE:DDD) and Cemex (NYSE:CX).
MF Global (NYSE:MF) tanked another 18 percent today after receiving more bad news that sent shareholders into another selling frenzy. The company has been in the spotlight this week for all the wrong reasons. Monday seen the stock downgraded by Moody’s to one level above junk status which was followed by its second quarter results on Tuesday which showed the company lost $186 million during the three month period. Standard & Poor then stated on Wednesday that they could cut the futures and commodities brokerage’s rating. Today the company had its credit rating at Fitch cut to BB+/B, the highest level of non investment-grade debt. Fitch stated that the reason for the downgrade was ”MF’s continued challenges in establishing a sustainable level of profitability and improving its leverage profile.”
3D Systems Corp. (NYSE:DDD) dropped more than 16.7 percent on Thursday after the company posted the results of its third quarter. The company reported earnings per share of 14 cents during the three month period, missing analyst expectations of 16 cents per share. Revenue during the period was reported at $57.5 million, slightly lower than the $57.7 million Wall Street predicted. The company blamed the weaker than expected quarterly performance on higher costs that offset strong sales.
Cemex (NYSE:CX) gained more than 19.8 percent today on news that European leaders have agreed upon a new deal aimed at containing the regions debt crisis. Cemex has several operations in Europe so the regions economy is extremely influential as to how the company performs. The company was already on a high after it reported better than expected earnings during the fourth quarter.
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