Stock futures traded slightly lower Wednesday with the Federal Reserve expected to leave interest rates unchanged at the conclusion of its two-day policy meeting.
Shares of Paycom Software plunged 34% after the provider of cloud-based human capital management software said it expects fourth-quarter revenue of $420 million to $425 million, below analysts’ estimates of $452 million. Paycom also forecast adjusted earnings before interest, taxes, depreciation and amortization of $169 million to $174 million versus expectations of $189 million.
Match Group , the parent company of online dating platforms Tinder, Hinge, and OkCupid, fell 8% after saying it anticipates fourth-quarter revenue of $855 million to $865 million, below analysts’ estimates of $894.2 million. Match also said it expected revenue growth for the full year at the low end of its guidance range.
Yum China tumbled 12% after the owner of Pizza Hut, KFC, and other fast-food brands in China reported third-quarter earnings that came up short of estimates and said it had “observed softening consumer demand.”
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