On Tuesday, a steep sell-off in three companies sent their share prices down by 9.33% or more.
Sysco (SYY) fell to $74.11 after it reported $1.19 in non-GAAP EPS. Revenue grew by 2.6% Y/Y to $21.7 billion. The firm disappointed investors with its outlook. The company said it will deliver on its adjusted EPS growth guidance of 9% to 11%. However, full-year sales growth is now at the lower end of its 6% to 7% range.
Sysco pointed to a lower inflation environment for the industry for the weak outlook. SYY stock risks falling to the low $60 - $65 range in the coming weeks.
Thomson Reuters (TRI) fell by nearly 10% to close at $110.18, backing down from a recent resistance price of $125. In Q3, revenue of $1.83 billion rose by 10.2% Y/Y. The firm forecasts total revenue for FY 2026 of around 9.5%.
Slower growth in Q4 is due to flattish growth at the Reuters unit and a moderation in transactional revenue growth.
Gartner (IT) fell by 13.19% to close at $204.22. That might effectively end the stock’s strong uptrend that started in July at $124.55. The firm reported revenue falling by 0.7% Y/Y to $1.51 billion. The firm bought back 0.9 million shares, spending $138 million in the quarter.
Management continues to hire staff, which might put pressure on Gartner’s margins.
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