Market Updates
Movers: Analog Devices, Foot Locker, Kohl's, Nike, Peloton Interactive
Scott Peters
23 Aug, 2023
New York City
Foot Locker Inc plunged 29.7% to $16.71 after the specialty retailer reported sales declined almost 10% from a year ago and the company also suspended its quarterly dividend.
Peloton Interactive Inc dropped 23.3% to $5.38 after the fitness equipment company reported wider-than-expected and the company forecasted weak sales outlook in its fiscal first quarter.
The company's sales guidance between $580 million and $600 million fell short of market expectations of at least $620 million.
The company also said that the cost of the recent recall also exceeded its estimates and expects additional expenses in the future.
Kohl's Corp rose 4.3% to $26.85 after the department store retailer reported better-than-expected quarterly results.
Nike Inc declined 2.7% to &98.76 and the athletic shoemaker extended losses to the 10th session in a row after Foot Locker reported weaker-than-expected sales.
Analog Devices, Inc rose 0.6% to $177,75 after the company reported fiscal third quarter results that evoked mixed reactions from investors.
Stock recovered from the slump of 5% in pre-market trading after the company forecasted fiscal fourth quarter revenues of $27 billion and adjusted earnings per share of $2.0.
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Earnings
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