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When a company's quarterly results land below what Wall Street analysts had collectively forecast, the shortfall is called an earnings miss.
Dick's Sporting Goods had one on Tuesday: shares fell 15% after the sporting goods chain reported second fiscal quarter earnings that came in short of expectations. Management pointed to a "challenging" footwear market.
Wall Street expectations, in plain terms, are the consensus figures that equity analysts publish before a company reports. When actual results miss that number, the stock price typically moves.
Dick's Sporting Goods cited footwear conditions as a specific source of pressure. The company described that part of the market as difficult in Tuesday's second-quarter earnings report.
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