U.S. Hot Stocks: Hot Stocks to Watch
November 18 2016 - 9:38AM
Dow Jones News
Among the companies with shares expected to trade actively in
Friday's session are Abercrombie & Fitch Co. (ANF), Foot Locker
Inc. (FL) and Gap Inc. (GPS).
Abercrombie & Fitch posted its third straight quarter of
declining same-store sales, as the once-popular retailer's
rebranding efforts are showing little signs of winning back
shoppers. Shares fell 10% to $15.24 in premarket trading.
Foot Locker's profit and revenue increased in the third quarter
and same-store sales climbed, though at a slower pace than last
year. Shares fell 1.54% to $70.25 premarket.
Gap Inc.'s quarterly profit dropped 18% as the apparel maker,
which has reported seven straight quarters of lower sales, absorbed
costs tied to store closures. Shares fell 7.49% to $28.41
premarket.
Chip maker Marvell Technology Group Ltd. (MRVL) reported
third-quarter revenue and earnings above its guidance amid strong
growth in data storage and network infrastructure business. Shares
rose 8.91% to $14.55 premarket.
Intuit Inc.(INTU), the maker of TurboTax and QuickBooks, posted
a 9.1% increase in revenue for its fiscal first quarter, while
issuing guidance for the current period that was more optimistic
about sales than Wall Street estimates.
Molson Coors Brewing Co. (TAP) said Chief Financial Officer
Mauricio Restrepo has resigned, effective immediately, because of
"personal conduct" unrelated to the company's operations or
financial statements. Tracey Joubert, who was financial chief of
Molson Coors Brewing's U.S. business, has been named CFO.
Nike Inc. (NKE) boosted its quarterly dividend to 18 cents from
16 cents, marking its 15th consecutive year of higher payouts.
Ross Stores Inc.'s (ROST) profit rose 13% in the three months
ended October as the off-price retailer benefited from
higher-than-expected revenue and stronger margins.
First NBC Bank Holding Co. (FNBC), whose mounting financial
problems brought it under scrutiny, has struck an accord with
regulators to improve its capital position.
Salesforce.com Inc. (CRM) said Thursday revenue rose 25% on
rising sales in its subscription and support segment as the company
boosted its full-year sales target.
Williams-Sonoma Inc. (WSM) on Thursday reported lackluster sales
for its fiscal third quarter and gave a downbeat current-quarter
forecast, as the retailer faced retreating sales at its Pottery
Barn brand.
Yum Brands Inc.(YUM)--the owner of the KFC, Pizza Hut and Taco
Bell fast-food brands--is adding another $2 billion to its stock
buyback authorization. The $2 billion, to be used by the end of
2017, would be on top of what is left of its $4.2 billion
authorization announced in May. As of last month, the company had
about $1.6 billion left from that authorization.
Write to Chris Wack at chris.wack@wsj.com or Maria Armental at
maria.armental@wsj.com
(END) Dow Jones Newswires
November 18, 2016 09:23 ET (14:23 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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