U.S. Movers: Bath & Body Works, Macy's

Nov 25, 2024
Scott Peters
Bath & Body Works revised its fourth quarter sales and earnings outlook after beating third quarter sales and earnings estimates. Macy's delayed the release of its full financial results after the company identified accounting errors.

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Gap Inc. reported better-than-expected revenue, earnings, and comparable same-store sales in the fiscal third quarter. Ross Stores said quarterly earnings in the current quarter are likely to decline from a year ago. Intuit reported a decline in earnings but a rise in sales in its latest quarter.

Nvidia reported strong revenue and earnings growth in the fiscal third quarter, but the company's strong revenue outlook in the current quarter disappointed some investors. The AI-chip leader said the cloud service provider generated about 50% of its quarterly revenue. 

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Target Corp plunged after the discount retailer reported weaker-than-expected third quarter results. Dolby Labs and Keysight Technologies reported quarterly results surpassing market expectations.

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Walmart raised its annual sales growth outlook, citing broad-based strength in its U.S. stores. Lowe's issued a cautious annual sales outlook and tightened its comparable same-store sales range decline estimate. 

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CVS reported a sharp fall in earnings and withdrew its earnings and sales outlook, citing elevated medical costs in the remainder of the year. Cryptocurrency-linked stocks and banks advanced on speculation that the Trump administration's policy could be beneficial.

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Palantir reported better-than-expected results in its latest quarter. Boeing workers accepted the latest wage increase offer. Restaurant Brands said same-store sales at Pizza Hut and KFC declined 4%. 

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Nvidia and Sherwin Williams were selected to be included in the Dow Jones Industrial Average. Marriott reported a sharp decline in revenue in the latest quarter. Berkshire Hathaway said third quarter operating earnings declined in the fully-owned businesses. 

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Amazon.com said a strong increase in cloud services drove its overall sales higher in the quarter. Carnival Corp reported record revenue, but the company's outlook fell short of expectations. Intel lifted its fourth-quarter outlook. 

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Microsoft reported strong quarterly results but issued a cautious revenue growth outlook and reiterated its commitment to invest at elevated levels in artificial intelligence infrastructure. Meta Platforms confirmed higher investments in AI-related projects will dampen earnings in 2025. Carvana lifted its annual earnings outlook. 

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Alphabet reported a surge in revenue, and cloud unit growth surpassed expectations. Chipotle Mexican Grill reported a slowdown in revenue and comparable sales growth. AMD said third quarter sales increased 18% and earnings more than doubled. 

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PayPal offered softer revenue guidance and reported weaker-than-expected quarterly revenue. D.R. Horton offered a cautious sales and earnings outlook in the current fiscal year. Cadence Design's results surpassed expectations.

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Energy stocks traded down after crude oil prices plunged over 5% following the easing of tensions in the Middle East. Boeing plans to raise as much as $19 billion through a common stock and convertible debt offering. 

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Capri Holdings plunged after a federal judge blocked the sale of the company to Tapestry Inc. Digital Realty Trust said lease bookings soared in the third quarter. L3Harris Technologies reported better-than-expected quarterly results. 

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Tesla reported sharply higher revenue, earnings, vehicle production, and deliveries in the third quarter. UPS reported a strong increase in domestic revenue driven by a rise in average daily volume. Lam Research signaled higher revenue in the fourth quarter. 

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