Aug 23, 2019

Market Insider: Stocks making the biggest moves premarket: Salesforce, HP, Gap and more

Peter Schacknow

Foot Locker The athletic footwear and apparel retailer fell a penny short of forecasts with adjusted quarterly profit of 66 cents per share. Revenue also missed forecasts. Foot Locker’s comparable sales increase of 0.8% was short of the 3.3% increase predicted by analysts surveyed by Refinitiv.
Nike was named “best idea” at Guggenheim, which noted that concerns over tariffs and market conditions have pushed the stock lower and created a compelling entry point.
Hibbett Sports posted an adjusted quarterly loss of 13 cents per share, smaller than the 16 cent loss expected by Wall Street. The athletic footwear and apparel retailer’s revenue fell short of estimates. Hibbett’s comparable store sales increase of 0.3% was also below the Refinitiv consensus forecast for a 0.4% rise. Hibbett did raise the lower end of its full-year comparable store sales growth forecast, now expecting an increase of 1% to 2% from the prior 0.5% to 2%.
The BuckleThe accessories retailer reported quarterly earnings of 34 cents per share, 4 cents above the consensus estimate, while revenue exceeded forecasts as well. Comparable store sales were up 1.8%, compared to expectations for a 1.4% decline.
Hasbro will acquire Canada’s Entertainment One for about $4 billion in cash. Entertainment One is the company behind preschool brands like Peppa Pig and PJ Masks. reported adjusted quarterly profit of 66 cent per share for its latest quarter, compared to a 47 cent consensus estimate. The business software company also saw revenue come in ahead of forecasts, and gave upbeat full year guidance.
HP Inc. beat estimates by 3 cents with quarterly profit of 58 cents per share, with the computer and printer maker’s revenue essentially in line with Wall Street forecasts. HP also announced that CEO Dion Weisler would be stepping down on Nov. 1 for family-related reasons. He’ll be succeeded by Enrique Lores, currently head of the company’s imaging and printing unit.
Gap came in 10 cents ahead of consensus with adjusted quarterly profit of 63 cents per share, with revenue in line with forecasts. However, the apparel retailer’s comparable store sales fell by 4%, and its traditionally strong Old Navy brand saw a comparable store sales decline of 5% compared to 1% in the prior quarter.
Dillard’s – The retailer raised its quarterly dividend by 50 percent to 15 cents per share.
VMware earned an adjusted $1.60 per share for its latest quarter, 5 cents above estimates, with the cloud software company’s revenue also beating forecasts. VMware also announced the acquisition of software companies Pivotal Software and Carbon Black in separate deals. Dell Technologies is a controlling stakeholder in both Pivotal and VMWare.
Walmart and Tesla are seeking to resolve issues surrounding Tesla solar energy systems sold at Walmart stores. Earlier this week, Walmart sued Tesla for “widespread negligence” involving repeated fires involving those systems.
Intuit lost 9 cents per share for its latest quarter, smaller than the 15 cent loss that Wall Street was anticipating. The financial software company also saw revenue come in ahead of estimates.
Ross Stores earned $1.14 per share for its second quarter, 2 cents above estimates, while the discount retailer’s revenue also came in slightly above consensus. The company also said it sees a slight impact on its third and fourth quarter earnings from the 10 percent tariff on goods sourced from China.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Latest Post Published

From The Desk of Fernando Guzmán Cavero: Notification

Dear Friends:  Soon I'll be back with you with my selected financial daily News. Please, stay tuned                                     ...