Costco Stock Drops 7%

(RTTNews) - Costco Wholesale Corp. (COST) is trading at $948.84, down 7.83 percent or $80.43 during Friday's trading. The stock movement might be influenced by the second-quarter results, which were published on Thursday.

The company's quarterly earnings came in at $1.79 billion, or $4.02 per share, compared to last year's $1.74 billion, or $3.92 per share. However, it missed analysts' earnings estimate of $4.11 a share.

The stock opened at $995.15 and has traded between $955.66 and $1,002.42 so far today, down from a previous close of $1,026.62. Current volume stands at 1.83 million shares, approaching the average volume of 2.03 million. The stock's 52-week range is $697.27 to $1,078.23.