Movers: Autodesk, Credit Suisse, Deere, Guess, HP, Manchester United, Nordstrom

Scott Peters
23 Nov, 2022
New York City

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.