Stocks plunged on Tuesday as investors weighed the potential impact of an intensified trade war between China and the United States. Trump administration officials have accused the Middle Kingdom of reneging on previous trade commitments, leading the president to renew his threat of increasing tariffs on hundreds of billions of dollars of imported Chinese goods. When the closing bell rang, both the Dow Jones Industrial Average and the S&P 500 had lost nearly 2%.

But earnings news left several individual stocks with even steeper declines, including Glu Mobile (NASDAQ:GLUU), Intersect ENT (NASDAQ:XENT), and Anheuser-Busch InBev (NYSE:BUD).

Glu Mobile guides low

Shares of Glu Mobile sank 18% after the mobile game specialist announced disappointing first-quarter 2019 results. Revenue climbed 17.8% year over year to $95.9 million, while bookings increased 7% to $92.6 million -- well above guidance for bookings of $88 million to $90 million. On the bottom line, that translated into modest net income of $663,000, or roughly breakeven on a per-share basis.

Man watching red arrow crash through the floor

Image source: Getty Images.

CEO Nick Earl credited the company's three "Growth Games" -- Design Home, Tap Sports Baseball, and Covet Fashion -- for its relative outperformance in Q1. Earl further pointed to Glu's impending releases of WWE Universe, Diner DASH Adventures, and Disney Sorcerer's Arena between May and August as promising sources for incremental growth.

For the second quarter, however, Glu Mobile expects bookings of $100 million to $102 million, well below consensus estimates for Q2 bookings of closer to $107 million.

Intersect ENT sees growing losses

Shares of Intersect ENT fell 24% after the healthcare equipment specialist announced its own disappointing quarterly update. On one hand, revenue climbed 8% year over year to $26.7 million, edging out Wall Street's consensus target for $26.3 million. But the company's net loss also widened to $10.8 million, or $0.35 per share, compared to a $0.21-per-share loss in the year-ago period and around $0.05 per share below analysts' expectations.

"We continue to work closely with physicians on the introduction of SINUVA and are pleased with the positive feedback regarding patient outcomes," stated CEO Lisa Earnhardt, in reference to the company's sinus implant product to treat nasal polyps. "While we have made strides in facilitating product access and sales force balance, we are implementing further measures to continue to improve these areas."

In a separate press release late yesterday, the company also announced Earnhardt will step down as CEO effective June 5 to accept a job at Abbott Laboratories. Finally, Intersect reduced its outlook to call for 2019 revenue of $113 million to $117 million, down from previous guidance for $123 million to $127 million.

Anheuser-Busch InBev goes flat

A-B InBev stock dropped 3% after the brewing giant posted underwhelming first-quarter results. Earnings arrived at $1.27 per share on revenue of $12.589 billion. The latter was driven by organic growth of 5.9%, helped by a combination of 1.3% volume growth, global revenue-management efforts, and "premiumization" initiatives. Sales of A-B InBev's three core global brands -- Budweiser, Stella Artois, and Corona -- grew 8.5% worldwide, including 14% growth outside their respective home geographies.

However, most analysts were modeling earnings of $1.33 per share on revenue of $12.66 billion.

Still, management remained optimistic, insisting the year is "off to a strong start" with robust momentum in several key markets including Brazil, Nigeria, Europe, Columbia, and Peru.