Movers: Autodesk, Credit Suisse, Deere, Guess, HP, Manchester United, Nordstrom
- Scott Peters
- U.S.A. New York City
-
Deere & Company latest quarter results were ahead of expectations. Guess Inc struggled with changing retail environment. Manchester United soared on potential sale of the company.
Autodesk Inc fell 5.6% to $197.16 after the architectural and engineering software developer fell short of expectations for its annual outlook.
Autodesk said third quarter revenue increased 14% to $1.2 billion and net income rose to $198 million from $137 million or 91 cents from 62 cents a year ago.
HP Inc gained 1.1% to $29.71 after the company reported a less-than-expected decline in its latest quarterly sales.
HP said fiscal fourth quarter revenue fell 11.2% to $14.8 billion and net income fell to breakeven from $3.1 billion or $2.71 per share a year ago.
HP said the company plans to cut global staff between 4,000 and 6,000 over the next three years.
Nordstrom Inc declined 5.9% to $21.32 after the luxury retailer reported weaker-than-expected quarterly results.
Nordstrom third quarter revenue eased 2.9% to $3.5 billion and swung to a net loss of $20 m from a profit of $64 m or 13 cents from 39 cents a year ago.
Guess Inc gained 0.5% to $19.86 after the company reported mixed results in its latest quarter.
The company said strong dollar and macroeconomic headwinds impacted sales.
Deere & Company gained 5.5% to $439.93 after the agriculture equipment maker reported stronger-than-expected quarterly results.
The heavy equipment maker also lifted its annual outlook despite the headwinds from the strong dollar.
Credit Suisse Group AG dropped 6.5% to $3.85 after the Swiss bank estimated a loss of $1.6 billion in its latest quarter citing recent customer deposit withdrawals.
Manchester United PLC jumped 22.5% to $18.26 and extended gains for the second day after the company said it is evaluating its strategic alternatives including the company sale.
Annual Returns
| Company | Ticker | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Autodesk Inc | ADSK | 29% | 22% | -29% |
| Deere & Company | DE | 12% | -8% | 28% |
| HP Inc | HPQ | 21% | 4% | -23% |
| Nordstrom Inc | JWN | 31% | 13% | -28% |
| Credit Suisse Group | CS | 0% | -74% | -65% |
| Guess Inc | GES | -31% | 12% | -13% |
| Manchester United Ltd | MANU | -12% | -1% | 44% |