Why Are These 5 Stocks Losing Ground Today?

Ascena Retail Group Inc (NASDAQ:ASNA) is down by 7% as shares remain volatile after the company reported first quarter of fiscal year 2016 EPS of $0.36 on revenue of $1.67 billion. Although the company’s fiscal first quarter earnings beat analyst estimates by $0.07 per share, Ascena Retail Group Inc (NASDAQ:ASNA)’s revenue missed expectations by $110 million. Management reaffirmed its full fiscal year EPS guidance of $0.75-to-$0.80 per share. Given the company’s forward P/E of 12.26, any notable fall from here will result in the stock becoming a good value play. Analysts have a consensus $16.58 price target on the stock and Joel Greenblatt’s Gotham Asset Management owned 2.67 million shares at the end of the third quarter.

In other news, PVH Corp (NYSE:PVH) shares have fallen by more than 8% on the day after the company reported disappointing full year guidance numbers. Management now sees sales retreating by 3% for the year, rather than the previous 2%. Management’s guidance cut largely overshadowed PVH’s solid third quarter, in which the company reported EPS of $2.66 on revenue of $2.16 billion, beating profit estimates by $0.19 per share and meeting revenue expectations. 37 funds in our database were long PVH Corp (NYSE:PVH) at the end of the third quarter, up from 36 funds at the end of June.

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