One also needs to factor in that the recent sell-off before...

One also needs to factor in that the recent sell-off before today was partly based on a fear of debt covenants being breached (as their scared impacts)....

There were actually some very good points in today's announcement, like banks have quickly renegotiated the loans and covenants had been waived. Also, sales are actually up over 4%.

Today was a bit of a glass half full announcement, and the market treated it as a glass is empty and has a whole in it...

Tomorrow is another day, it shall be interesting to watch.