Stocks remain on track for a losing month, even after two days of gains.
y slumped 2% in extended trading after the semiconductor maker shared disappointingFor the period, Micron Technology posted a loss of 4 cents a share on $4.09 billion in revenue. Analysts surveyed by Refinitiv had expected a 1 cent loss per share on revenues of $4.11 billion.
The company also shared earnings guidance for the current period that fell short of Wall Street's expectations, saying that it expects a loss of 62 cents a share. Analysts anticipated a loss of 30 cents.Under Armour names next CEO Under Armour shares seesawed between gains and losses in extended trading after the athletics apparel company named Stephanie Linnartz as its next CEO.
Linnartz, who currently serves as president at Marriott International, will step into the role in February 2023. She joined Marriott in 1997 as a financial analyst.Major averages on pace for their worst year since 2008As of Wednesday's close, all the major averages are set to break a 3-year win streak and post their worst yearly performance since 2008. That year, the Dow Jones Industrial Average sank 33.84%, while the S&P 500 and Nasdaq Composite shed 38.49% and 40.54%, respectively.
The indexes are also poised to snap two consecutive months of gains. Here's the breakdown by the numbers:Up 0.68% for the week
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