Shares of Zumiez Inc.(NASDAQ:ZUMZ) slumped $4.19 or 16.55% to $21.13 in previous trading session soon after the company reported a fall in growth that was well beyond the analyst expectations of improvement though the company reported an improvement in key sales measures at its stores during the month of October.
The weak economy in Europe caused a lower than expected sales which led the company to revise the fiscal third quarter earning guidance.
Revenue from stores open at least a year increased 0.6% in comparison to a gain of 3.3% for the month ended October 29th 2012 in comparison to last year which fell far short of 4.6% gain as expected by the analysts of Thomson Reuters.
Total sales for October rose 20.2 percent to $41.9 million.
Zumiez has lowered its fiscal third quarter earnings guidance by 4 to 6 cents per share to 38 to 39 cents per share.
Analysts were estimating the company to earn 46 cents per share for the period.
Shares of Barrick Gold Corporation (NYSE:ABX) surge $3.80 or 9.38% to $36.70 following the news of company reporting third quarter earnings and sales that missed the analyst estimates.
The company reported a profit of 85 cents per share excluding impairment charges, foreign-exchange losses and other items which fell short of 99 cents per share estimate of analysts compiled by Bloomberg.
Further the sales declined by 13.35% to $3.44 billion in comparison to last year missing the analyst expectation of $3.65 billion.
Net income fell 55 percent to $618 million, or 62 cents a share in comparison to last year.
Gold output for third quarter fell 7.77% to 1.78 million ounces compared to 1.93 million ounces last year whereas Citigroup analyst estimated 1.95 million ounces and based analyst at RBC Capital Markets, estimated 1.97 million.
Barrick revised its 2012 gold production to range between 7.3 million to 7.5 million ounces. Further the forecast of total cash cost was increased to $575 to $585 an ounce, up from $550 to $575 previously.
Capital expenditure is expected to be closer to $8 billion to $8.5 billion.