3D Systems down on weak outlook, CVS quits cigarettes

SAN FRANCISCO (MarketWatch) — 3-D printer stocks sank on Wednesday after 3D Systems Corp. cut its 2014 earnings target, while shares of CVS Caremark Corp. were pressured on news that the drugstore chain no longer will sell tobacco products.

3D Systems (DDD)  shares dropped 15%. The company said it now expects full-year adjusted profit in a range of 83 cents a share to 87 cents a share, below its previous guidance of 93 cents a share to $1.03 a share. 3D Systems blamed the lower forecast on a sharp increase in research and development expenditure for new products and an increase in marketing expenses.

Shares of other 3-D printer companies tumbled as well, with ExOne Co. (XONE)  sliding 9% and Stratasys Ltd. (SSYS)  slumping 5.9%.

CVS Caremark Corp. (CVS)  shares fell 0.9%. CVS said it would stop selling cigarettes and tobacco products in stores by Oct. 1. The change is estimated to cost the company $2 billion in annual revenues or 17 cents a share, but CVS said it won't affect its 2014 per-share earnings guidance.

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Nordstrom Inc. (JWN)  shares rose 3.2%. The retailer on Wednesday announced plans to close underperforming stores in Portland, Ore. and Vancouver, Wash. The closures will affect about 280 employees.

Paccar Inc. (PCAR)  climbed 2.9%. The heavy-duty truck maker, which owns the Peterbilt and Kenworth brands, said last week its fourth-quarter earnings rose to 94 cents a share from 72 cents a share.

Genworth Financial Inc. (GNW)  shares added 2.9%. The insurer on Tuesday reported fourth-quarter operating income of 38 cents a share, above analysts's estimate of 30 cents a share.

Decliners Getty Images CVS will stop selling tobacco products in stores by Oct. 1.

Shares of C.H. Robinson Worldwide Inc. (CHRW)  skidded 7.9%. The transportation and logistics company posted a 64% drop in fourth-quarter profit on Tuesday, missing expectations.

Cerner Corp. (CERN)  shares dropped 4.8% after the hospital information-technology company reported a sharp drop in fourth-quarter earnings and issued a weak outlook.

Estee Lauder Cos. (EL)  declined 5.4%. The beauty products company on Wednesday reported fiscal second-quarter earnings of $1.09 a share, down from $1.13 a share a year ago.

Two biotech debutantes Genocea Biosciences Inc. (GNCA)  and UniQure NV (QURE)  had a rough first day on the market with both stocks down more than 5%.