US Stock Market Move | Q4 performance fell short of expectations, Krispy Kreme (DNUT.US) tumbled by 30% at one point.

On Tuesday, Krispy Kreme (DNUT.US) dropped by as much as 30% at the opening, setting a single-day record decline, and is currently trading at $6.85. In terms of news, the company's fourth-quarter revenue decreased by 10.4% from $451 million in the same period last year to $404 million, falling short of FactSet's consensus expectation of $414 million. The company stated that the sale of its stake in Insomnia Cookies had a $101 million impact on revenue, while the 2024 cyber security incident is expected to have a $11 million impact. Adjusted earnings per share for the fourth quarter were $0.01, failing to meet FactSet's consensus expectation of $0.1 per share.