Investing.com - Three consumer-related stocks stood out on the loser board in midday trading, with online home goods retailer Wayfair posting the biggest decline.
Wayfair (NYSE:W) fell about 11% at 11:55 AM ET (15:55 GMT).
The company posted a sharp miss on earnings, despite sales arriving higher than expected.
Wayfair guided fourth-quarter revenue in line with forecasts, but also said predicting those numbers was particularly difficult given the current “volatile environment.”
Underwear (or innerwear as the company likes to say) maker Hanesbrands (NYSE:HBI) fell about 7%.
Hanesbrands beat on the bottom line, but its revenue was shy of Street targets.
And Stamps.com (NASDAQ:STMP) made what at first glance looks like a counterintuitive move, despite very strong earnings results.
Granted, only a couple of analysts cover the stock, but a beat of nearly 40 cents per share should bring out some buyers, Yet the stock tumbled about 10%.
What hit shares so hard? Possibility a lack of visibility on the still present possibility that the White House will privatize the U.S. Postal Service.
President Donald Trump “formed a three-month task force in April to study the USPS and the report of that task force was completed and delivered to the President but the report has not been made public,” the company said on its earnings call. “And since we have not seen the report, it's very difficult for us to comment.”