U.S. Hot Stocks: Hot Stocks to Watch
20 May 2016 - 11:43PM
Dow Jones News
Among the companies with shares expected to trade actively in
Friday's session are Foot Locker Inc. (FL), Deere & Co. (DE)
and Acorda Therapeutics Inc. (ACOR).
Foot Locker Inc. said its profit and revenue climbed in the
latest quarter, though the athletic retailer's sales at existing
stores rose less than analysts were expecting. Shares fell 3.5% to
$56.50 in premarket trading.
Deere & Co. said its second-quarter sales decline wasn't as
steep as feared, resulting in earnings that topped expectations and
a revenue forecast for the year that is slightly less dismal.
Shares fell 1.52% to $81.00 premarket.
Acorda Therapeutics Inc. on Friday said it will discontinue
development of its Plumiaz epilepsy drug as ongoing trials didn't
produce the data necessary to re-file the new drug application with
federal regulators. Shares fell 2.76% to $25.00 premarket.
Campbell Soup Co. (CPB) on Friday posted earnings that narrowly
topped Wall Street expectations and boosted its outlook for the
year despite weak organic sales in the latest quarter. Shares fell
4.19% to $61.30 premarket.
Applied Materials Inc. (AMAT) said orders hit a 15-year high in
its latest quarter, prompting the maker of semiconductor
manufacturing tools to project a major rebound in its business
later this year as those transactions are completed.
Autodesk Inc. (ADSK) issued disappointing guidance Thursday,
though its loss for the most recent quarter wasn't as wide as
feared.
Brocade Communications Systems Inc.'s (BRCD) profit tumbled in
its latest quarter as the networking company saw falling demand for
its products.
Gap Inc.(GPS), under pressure to turn around operations amid a
prolonged sales slump, said Thursday it plans to close all its Old
Navy stores in Japan and some Banana Republic stores, mostly
outside of North America, by the end of its business year.
Separately, Standard & Poor's Ratings Services downgraded the
retailer one notch to double-B-plus, considered below investment
grade. Fitch Ratings Inc. downgraded Gap last week.
Mentor Graphics Corp. (MENT) on Thursday gave guidance for the
current quarter above Wall Street's expectations and reported
results for the latest period that declined less than expected.
New York & Co. (NWY) on Thursday reported a wider loss and
lower sales in the first quarter, the latest victim of
disappointing store traffic.
Ross Stores Inc.'s (ROST) profit for the April quarter was
better than it had projected, but the off-price retailer's stock
slid on lackluster sales growth and guidance.
Write to Chris Wack at chirs.wack@wsj.com and Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
May 20, 2016 09:28 ET (13:28 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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