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Small-Cap Snapshot: Signet Jewelers sinks after reporting holiday sales declined 1.3%

Also moving are the shares of PG&E, Alcoa and Rover Metals
Kay jewelry store
The Kay jewelry store owner lowered its quarterly guidance

Signet Jewelers Ltd (NYSE:SIG) tumbled after the owner of the Kay, Zales and Jared chains said same-store sales for the nine weeks ended January 5 dropped 1.3%. The company lowered its fourth-quarter guidance for same-store sales to a decline of 1.6% to 2.5%. Signet, which pledged to improve profitability by “aggressively optimizing” costs, is scheduled to report financial results on March 14.

Shares fell 23% to US$25..54 in Thursday’s trading.

READ: Alcoa beats Street's 3Q estimates as it unveils share buyback program

Alcoa Corp (NYSE:AA) climbed a day after the company said it had swung to a profit during the fourth quarter. The company earned $43 million, or $0.23 per share, compared with a loss of $196 million, or $1.06 per share, a year earlier. The results overshadowed news in the US Senate, which fell short of the votes required to block President Donald Trump’s move to ease sanctions on a key Alcoa competitor, United Co Rusal, the Russian aluminium producer.

Shares advanced 2.2% to $29.65.

PG&E Corp (NYSE:PCG) declined after reports that shareholder BlueMountain Capital Management LLC questioned, in a securities filing, the utility’s plan to seek bankruptcy protection from potential California wildfire damages that could run as high as US$30 billion. 

The stock was down 1.6% to US$6.92.

Rover Metals Corp (CVE:ROVR) slipped in Canadian trading even as the Vancouver-based company was approved for trading on the OTCQB Venture Market. Rover’s OTC ticker symbol is ROVMF.

The stock was down C$0.01 to C$0.05 in Thursday’s Canadian trading

The Russell 2000 index of small-cap stocks edged up 0.4% to 1,460.34.

Contact Dennis Fitzgerald at [email protected]


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