The Macy’s Inc. logo will be displayed on a monitor at the New York Stock Exchange (NYSE) in New York, United States on Monday, February 22, 2016.
Michael Nagel | Bloomberg | Getty Images
Check out the companies that are making the headlines in midday trading.
Macy’s – The retail giant rose 19.6% after posting quarterly earnings and earnings that beat analysts’ estimates. Macy’s reported an increase in sales in similar stores, raised its annual sales forecast, and also announced a share buyback and reinstatement of its dividend.
Kohl’s – Kohl’s shares rose 7.3% after the retailer released quarterly results that beat analysts’ forecasts. Kohl’s reported adjusted quarterly earnings of $ 2.48 per share is well above the consensus estimate of $ 1.21, according to Refinitiv. The company said the higher footfall in the second quarter drove revenue and also raised its forecast for the full year.
Nvidia – Nvidia stock rose nearly 4% after the chip giant’s quarterly earnings and revenue surpassed Wall Street estimates amid strong graphics card sales. Nvidia announced its results on Wednesday.
Robinhood – The retail app’s stock fell 10.3% after first reporting quarterly results as a publicly traded company on Wednesday. The company posted a 131% increase in quarterly revenue in the second quarter compared to the same period last year. However, analysts are concerned about how much the meme-based crypto Dogecoin is responsible for trading activity, as well as Robinhood’s warning of a slowdown in trading activity in the third quarter.
Tapestry – Tapestry, whose brands include Coach and Kate Spade, fell 3.1%, despite quarterly sales beating estimates. Tapestry has also resumed its dividend and share buyback program.
Petco – Petco stock rose 3.6% after the pet products retailer posted adjusted quarterly earnings of 25 cents per share, 5 cents higher than expected, Refiniv said. The company has also raised its earnings and sales outlook for the full year.
BJ’s Wholesale – Warehouse retailers stock rose 4% after the company beat estimates for sales and earnings for the last quarter. According to Refinitiv, BJ’s made an adjusted 82 cents per share in the second quarter, 17 cents above estimates.
Cisco Systems – Cisco stocks rose 3.8% after the network equipment and services company beat quarterly earnings. Cisco reported earnings of 84 cents per share on sales of $ 13.13 billion. According to Refinitiv, analysts had expected earnings of 82 cents per share on sales of 13.03 billion US dollars.
Bath & Body Works – The personal care retailer’s shares rose 10.5% after posting quarterly results for the first time since renaming from L Brands following the spin-off from Victoria’s Secret. The company reported revenue of $ 1.7 billion and earnings per share of $ 1.34 for the second quarter.
Victoria’s Secret – Women’s clothing stocks fell 3.5% after reporting quarterly sales that fell short of analysts’ expectations. However, the company saw improved profit margins due to tighter inventory and fewer promotions.
– CNBC’s Tanaya Macheel and Jesse Pound contributed to the coverage
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