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November 24, 2020

Earnings

HP jumps on earnings beat and rising PC notebook sales

CNBC
CNBC – For more and to sign up click here Enrique Lores, CEO, HP Scott Mlyn | CNBC HP shares rose as much as 9% in extended trading on Tuesday after the PC maker reported fiscal fourth-quarter earnings that beat analysts’ estimates and provided an optimistic earnings forecast. Earnings: 62......

Gap earnings fall short, sales beat, as retailer ‘remains optimistic’ about the holidays

CNBC
CNBC – For more and to sign up click here A Gap store in New York, August 2, 2020. Scott Mlyn | CNBC Gap Inc. shares fell Tuesday after the company reported fiscal third-quarter earnings that fell short of expectations, as higher spending on marketing offset sales gains at Old......

Abercrombie & Fitch CEO says it has a playbook to deal with closures as Covid threatens to shutter stores

CNBC
CNBC – For more and to sign up click here Pedestrians are reflected in the window of an Abercrombie & Fitch store in New York. Craig Warga | Bloomberg | Getty Images The possibility that Abercrombie & Fitch will face additional rounds of temporary store closures due to rising Covid-19......

Adjusted Post Holdings earnings drop 50% in year

FoodBusinessNews
ST. LOUIS — Weak fourth-quarter sales in the company’s North American ready-to-eat cereal business and a forecast for weaker earnings ahead spooked investors, triggering a decline in the share price of Post Holdings, Inc. For the year ended Sept. 30, adjusted net earnings at Post Holdings were down 50% from......

Stocks making the biggest moves in the premarket: Best Buy, Hormel, Abercrombie & Fitch & more

CNBC
CNBC – For more and to sign up click here Take a look at some of the biggest movers in the premarket: Best Buy (BBY) – The electronics retailer reported quarterly earnings of $2.06 per share, beating the consensus estimate of $1.70 a share. Revenue came in above estimates as......

Best Buy tops estimates on strong online sales, but shares fall on lack of forecast

CNBC
CNBC – For more and to sign up click here Best Buy‘s third-quarter earnings on Tuesday soared past Wall Street’s expectations, as the company continued to see strong demand for technology during the coronavirus pandemic. Shares of the company were down more than 2% in premarket trading early Tuesday. Despite......

Markets cheer Yellen pick for Treasury, seeing her focus on fixing the economy and not politics

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CNBC – For more and to sign up click here Former Federal Reserve Board Chairwoman Janet Yellen Joshua Roberts | Reuters President-elect Joe Biden’s choice of Janet Yellen as Treasury Secretary was seen as a win for markets, since the former Federal Reserve chair should focus on fixing the economy......

Two retail stocks to watch ahead of their earnings reports this week

CNBC
CNBC – For more and to sign up click here Retail earnings are ramping up this week. Urban Outfitters reports on Monday, a day before Best Buy, Dick’s Sporting Goods, Abercrombie and Fitch, Dollar Tree, Nordstrom, Gap and American Eagle Outfitters. All of their stocks are in the green year......

Stocks may continue to struggle Thanksgiving week amid Covid-19 outbreaks

CNBC
CNBC – For more and to sign up click here Traders work the floor of the New York Stock Exchange. NYSE Stocks could continue to struggle with the twin themes of the spreading virus and a potentially robust recovery, once a vaccine is deployed next year. In the coming week,......

Pandemic-induced ‘nesting’ fuels Home Depot and Lowe’s sales—Why it’s likely to continue

CNBC
CNBC – For more and to sign up click here When the coronavirus pandemic hit, many Americans not only switched to working remotely and cooking more meals, they began checking off tasks on the to-do list, from painting walls to replacing old appliances. Home Depot and Lowe’s reported that appetite......

Stocks making the biggest moves after hours: FireEye, Williams-Sonoma, Workday & more

CNBC
CNBC – For more and to sign up click here Bloomberg | Bloomberg | Getty Images Check out the companies making headlines after the bell:  FireEye — Shares of FireEye jumped 12% in extended trading after the cybersecurity company announced a $400 million strategic investment led by Blackstone. FireEye intends......

Macy’s same-store sales fall 20%, as department stores fall out of favor with shoppers during the pandemic

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CNBC – For more and to sign up click here People walk past a Macy’s store in a Manhattan shopping district on August 12, 2020 in New York City. Following a massive drop in tourism due to the Covid-19 pandemic and a work culture that increasingly keeps people at home,......

U.S. stock futures little changed after Wednesday’s sell-off

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CNBC – For more and to sign up click here Traders work the floor of the New York Stock Exchange. NYSE U.S. stock futures were little changed on Wednesday evening on the heels of a market slump. Futures tied to the Dow Jones Industrial Average and the S&P 500 hovered......

Nvidia beats on both earnings and revenue, sales up 57%

CNBC
CNBC – For more and to sign up click here Nvidia beat analyst expectations on both earnings and revenue in its fiscal fourth quarter, but the stock dropped more than 3% in extended trading after the company said that revenue from its data center segment would decline sequentially in the......

Stocks making the biggest moves after hours: Sonos, L Brands, Palantir & more

CNBC
CNBC – For more and to sign up click here Sonos celebrates its IPO at the Nasdaq, August 2, 2018. Source: Nasdaq Here are the stocks making notable moves in extended trading. Sonos — The tech hardware stock spiked 21% after Sonos reported stronger-than-expected results for its fiscal fourth quarter.......

Sonos soars on strong fiscal-year guidance

CNBC
CNBC – For more and to sign up click here Patrick Spence, CEO of Sonos.  Devan Burris | CNBC Shares of speaker maker Sonos rose as much as 21% in extended trading on Wednesday after the company reported fiscal fourth-quarter earnings and guidance that beat expectations. Here’s how the company......

Lowe’s shares tumble as earnings fall short despite robust sales gains

CNBC
CNBC – For more and to sign up click here A shopper visits a Lowe’s hardware store in Philadelphia, Pennsylvania, November 4, 2020. Mark Makela | Reuters Lowe’s shares fell Wednesday after the home improvement retailer reported third-quarter earnings and a profit outlook slightly short of estimates, weighed down by......

Target crushes estimates as retailer uses new shopper habits to gain market share

CNBC
CNBC – For more and to sign up click here Target reported Wednesday fiscal third-quarter earnings that easily outpaced analysts’ estimates as the discount retailer won market share by turning shoppers’ pandemic habits into lasting gains. The company said it grabbed market share across all of its core categories, from......

World’s largest shipping firm reports faster-than-expected third-quarter rebound

CNBC
CNBC – For more and to sign up click here A crane loads a shipping container branded A.P. Moller-Maersk onto a freight ship. Balint Porneczi | Bloomberg | Getty Images Maersk, the world’s largest container shipping firm, matched third-quarter profit expectations on Wednesday amid a stronger-than-expected pickup in demand. The......

Cramer reacts to Walmart, Home Depot earnings: ‘The vaccine is a headwind for them’

CNBC
CNBC – For more and to sign up click here CNBC’s Jim Cramer on Tuesday tried to make sense of the declines in Home Depot and Walmart shares after the retail juggernauts posted third-quarter results that topped Wall Street estimates. Wall Street received a “pair of stellar quarters from Home......

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