Movers: Alibaba, American Eagle, Cracker Barrel, Kirkland's, Nio, PVH

Barry Adams
31 May, 2022
New York City

Chinese stocks trading in New York jumped after residents are allowed to visit malls, public places, and parks from June 1. 

Workers are also scheduled to return to office after the easing of the Covid restrictions from next month.   

Alibaba Group Holding Ltd jumped 3.4% to $96.62, JD.com jumped 52% to $56.51, Baidu Inc jumped 3.1% to $143.38, and Nio Inc jumped 5% to  $17.41. 

Healthcare stocks led the decliners. 

UnitedHealth declined 2% to $496.93,  Walgreens Boots Alliance jumped 0.6% to $43.99, Cigna Group declined 0.7% to $270.19, and HCA Healthcare fell 2.01% to $211.06. 

Cracker Barrel declined 3% to $101.99 and extended loss in the year so far to 22.5% ahead of the release of its earnings on June 6th. 

American Eagle Outfitters declined 7.5% to $12.11 after Morgan Stanley downgraded the stock "underweight" and added the rating could sink further citing margin pressures and inventory challenges. 

PVH Corp gained 0.1% to $70.87 ahead of its first quarter 2022 earnings release on June 2. 

The Calvin Klein and Tommy Hilfiger apparel maker reported $1.92 a share  in the first quarter 2021 beating the consensus estimate of 93 cents. 

Kirkland's declined 14.7% to $5.79 after the retailer of home decor, furnishing and gifts reported first quarter 2022 net sales declined 18% to $103 million on 15.8% fall in comparable sales from a year ago. 

In the quarter, the retailer swung to a loss of $7.9 million or 63 cents a share from profit of $1.7 million or 11 cents a share.

The retailer shifting consumer priorities on rising inflation and energy prices and supply chain disruptions and elevated freight rates also impacted quarterly results. 

Kirkland's stock has declined 63% in the year-so-far.