Boston, MA 10/16/2014 (wallstreetpr) – KeyCorp (NYSE:KEY) stock was down by 5.82 percent during trading on 15th October. This was a direct result of the firm announcing third quarter operational results earlier in the day. It reported a big dip in its net income for the quarter. 3Q14 net income came in at $197 million as against the $229 million it had reported in 3Q13. The income had slide even on a sequential compare, with 2Q14 income coming in at $242 million. Company Chairman and Chief Executive Officer Beth Mooney tried to put up a brave face and rally the investors around the stock by explaining that the loans made to the “commercial, financial and agricultural” sectors had shown growth during the quarter, in spite of a dip in overall net income.
Online home furnishings and décor retailer Wayfair Inc (NYSE:W) continued to inhabit the negative territory after it made its debut as a publicly traded firm earlier this month. In yesterday’s trading the stock was down nearly 5.77 percent, taking the total dip in its market value since listing to a big 20.55 percent. On 7th October the firm had announced that it has sold nearly 12.65 million shares of its stock at $29 per share via the public offer. The stock had listed on the NYSE on 2nd October.
Advanced micro-acoustic solutions provider Knowles Corp (NYSE:KN) disclosed preliminary results for its third quarter 2014 operations on 15th October. On the back of the disappointing numbers the stock was down by 5.7 percent during yesterday’s trading. Revenue in 3Q14 is expected to come in at around $301 million, as against the $310 million to $330 million forecast provided by the firm previously. Non-GAAP EPS is pegged to come in between 36 to 40 cents per diluted share, as against the 45 to 52 cents forecasted previously.
