DAVITA SHARES DIVE ON EARNINGS NEWS

Add DaVita Inc. to the growing list of high-profile Colorado companies booted from the raging party on Wall Street this year.

U.S. stocks are on a tear, with the Dow Jones industrial average up more than 19 percent and the Nasdaq composite up nearly 26 percent so far this year. But the Bloomberg Colorado index, a price-weighted basket of 68 stocks based in the state, has fallen more than 6.5 percent in 2017.

Denver-based DaVita’s third quarter earnings missed analyst expectations, which company executives blamed on hurricane-related impacts and costs associated with retooling its business model, among other things.

The kidney care provider’s core business, DaVita Medical Group, lost $5 million, not counting a $601 million noncash impairment charge to company goodwill. That contrasts with the $33 million that investment firm William Blair had forecast the unit would make in operating income, according to Bloomberg.

“We recognize that the business is not achieving our capital return expectations,” Joel Ackerman, DaVita’s chief financial officer, said on a conference call with analysts.

“We recognize the skepticism investors will have right now as a result, but we remain confident that the operational changes we are making will result in improved financial performance in the future,” he said.

DaVita shares fell as much as 11 percent in trading Wednesday, reaching their lowest mark since December 2012 and spent much of the day down around 9 percent, wiping out what had been a flat 12-month return.

Chipotle Mexican Grill, for years an “it” company on Wall Street until it sickened hundreds of customers in late 2015, also continued to hang out in the alley. Shares of the fast casual restaurant chain around Halloween reached lows last seen in late 2012 after a disappointing earnings report that even the addition of queso on its menu couldn’t reverse.

Chipotle shares are down around 27 percent this year and more than 63 percent since the high reached in the summer of 2015. Like DaVita, its current share price is now back at 2012 levels.

Some other big names in the state are also nursing losses. Satellite television provider Dish Network Corp. is down more than 15 percent this year as it struggles with customer defections and uncertainty around its high-speed data offering using the wireless spectrum it controls.