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Mid-Day Market Update: Crude Oil Dips Over 6%; Matrix Service Shares Rise On Earnings Beat

Midway through trading Tuesday, the Dow traded down 1.91 percent to 16,212.11 while the NASDAQ declined 1.50 percent to 4,704.93. The S&P also fell, dropping 1.87 percent to 1,935.25.

Top Headline

Dollar Tree, Inc. (NASDAQ: DLTR) reported a loss for its fiscal second quarter and issued a weak sales forecast.

The Chesapeake, Virginia-based company posted a quarterly net loss of $98 million, or $0.46 per share, versus a year-ago profit of $121.5 million, or $0.59 per share. Excluding non-recurring items, the company’s adjusted earnings came in at $0.25 per share. Excluding all acquisition-related costs and share changes, adjusted earnings for the Dollar Tree segment came in at $0.67 per share.

Its sales climbed 48.3 percent year-over-year to $3.01 billion from $2.03 billion. However, analysts were expecting earnings of $0.62 per share on revenue of $3.04 billion.

Equities Trading UP

Trevena Inc (NASDAQ: TRVN) shares shot up 65 percent to $9.87 after the...