TransUnion and Teck Stocks Plunge on Weak Earnings and Outlook
-
TransUnion stock plunges 23% on disappointing Q3 results and lowered guidance for 2023. Revenue and earnings fell short of expectations.
-
TransUnion cites slowing growth expectations in U.S. and U.K. markets for reduced outlook. Expects 2023 revenue growth of just 2-3%.
-
Teck Resources stock drops 9% on lower commodity prices and higher costs related to ramping up its QB2 copper project.
-
Teck's Q3 revenue falls 16% year-over-year on lower steelmaking coal and zinc prices. Copper sales volumes increased.
-
Teck raises capital spending budget by $600 million to fully develop QB2 mine, one of world's largest undeveloped copper resources.