Check out the companies making headlines before the market opens. Abercrombie & Fitch — Shares of the clothing retailer fell nearly 4% despite better-than-expected earnings and strong holiday guidance. Abercrombie & Fitch reported third-quarter earnings of $2.50 per share, beating the LSEG consensus estimate of $2.39 per share. Revenue was $1.21 billion, above expectations of $1.19 billion. The company also raised its full-year guidance. Best Buy — Shares fell 7.4% after Best Buy reported third-quarter results that missed analysts’ expectations and lowered its full-year sales forecast. Adjusted earnings per share were $1.26, below the $1.29 per share expected by analysts polled by LSEG. Revenue was $9.45 billion, missing the consensus estimate of $9.63 billion. Kohl’s — The retailer’s third-quarter profit fell short of expectations, sending its shares tumbling nearly 17%. Kohl’s earned 20 cents a share on revenue of $3.51 billion in the period, while analysts polled by LSEG expected profits of 28 cents a share on revenue of $3.64 billion. STRANTIS — Shares of European and Japanese automakers fell after President-elect Donald Trump said in a Truth Society post on Monday that he planned to increase tariffs on products from China, Mexico and Canada. Many automakers have factories in Mexico. Stellantis is considering revising plans to expand manufacturing operations to Mexico, and the company’s stock price fell more than 3.5% on the news. Dick’s Sporting Goods — Shares of Dick’s Sporting Goods rose 6.6% after the sporting goods retailer beat quarterly estimates and signaled a strong outlook for the holiday shopping season. Dick’s raised full-year guidance and said it now expects same-store sales to grow 3.6% to 4.2% in fiscal 2024, up from 2.5% to 3.5% previously Zoom Video Communications — Shares fell about 10.5% after video software maker Adjusted earnings per share guidance for the fiscal fourth quarter was broadly in line with expectations. However, Zoom beat Wall Street expectations for its fiscal third-quarter profit and revenue. Amgen — Shares of Amgen fell more than 3% after the company said its experimental weight-loss drug helped patients lose 20% of their weight after a year. However, these trial results appeared to be lower than investor expectations. Rivian Automotive — Shares of Rivian Automotive rose about 9% after the electric vehicle maker said it has received conditional approval for up to $6.6 billion in government loans to support its production capabilities, including building a Georgia electric vehicle factory. Fluence Energy – The energy storage stock fell about 4% after the company’s fourth-quarter revenue missed expectations. Fluence reported revenue of $1.23 billion for the quarter, missing analysts’ expectations of $1.28 billion, according to FactSet. Earnings per share were 34 cents, above analysts’ expectations of 28 cents. —CNBC’s Sarah Min, Sean Conlon, Fred Imbert, Jesse Pound, Michelle Fox Theobald contributed reporting.
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved