Pedestrians walk past a Nordstrom Inc. store.
Ben Nelms Bloomberg | Getty Images
See the companies leading titles in the lunch trade.
Nordstrom – Shares of the department store rose by a whopping 39% after the company reported better-than-expected earnings and sales for the holiday quarter. The strong results also led Nordstrom to offer an optimistic outlook for next year. Meanwhile, retailer has called for improvements in its off-price business, Nordstrom Rack, amid a report that the company is reviewing potential unbundling.
Salesforce – Shares of Salesforce rose nearly 1% in lunchtime after the company reported a drop in profits. The software giant issued optimistic guidelines after exceeding expectations in its fourth quarter in terms of its top and bottom lines. The company posted adjusted earnings of 84 cents per share on revenue of $ 7.33 billion. Analysts had expected earnings of 74 cents per share on revenue of $ 7.24 billion, according to Refinitiv.
Ford – Shares of Ford jumped 6.5% at noon after the company said it planned to split its electric vehicle business and inherited businesses. The move is expected to streamline the company’s growing electric vehicle business and maximize profits. The carmaker plans to break the financial results for both divisions and its business with Ford + by 2023.
SoFi – SoFi shares rose more than 4% in lunch trading after better-than-expected quarterly results. Fintech reported a loss of 15 cents per share, according to analysts’ forecast of a loss of 17 cents per share. SoFi also reported that it reached the highest value of added members, ending 2021 with about 3.5 million members, which is 87% more than at the beginning of the year.
Ross – Shares of Ross Stores jumped nearly 7% a day after declining earnings in the fourth quarter. The off-price retail giant reported earnings of $ 1.04 per share on revenue of $ 5.02 billion. Analysts had expected earnings of 87 cents per share on revenue of $ 4.96 billion.
Hewlett Packard – Shares of Hewlett Packard jumped 10.8% after the company exceeded earnings expectations for the last quarter. Hewlett Packard reported earnings of 53 cents per share for the quarter, beating analysts’ estimates by 7 cents. Revenues came less than Refinitiv’s consensus estimate.
Abercrombie & Fitch – Retail stocks fell 15% at noon after lower-than-expected quarterly results. Abercrombie & Fitch reported earnings of $ 1.14 per share, below analysts’ estimates of $ 1.27 per share. Revenue was $ 1.16 billion, missing estimates from analysts at $ 1.18 billion.
First Solar – Shares of First Solar fell about 11% after the company missed earnings expectations for the fourth quarter. The manufacturer of solar panels also issued weak guidelines for the whole year.
Booking Holdings – The shares of the operator of the site for travel reservations rose by nearly 5% after Evercore ISI upgraded the shares to outperform. The company said it sees a “faster” recovery of leisure travel.
DraftKings – DraftKings shares fell nearly 3%, although Morgan Stanley called sports betting stocks the best choice. “We expect the online sports betting / iGaming market in the United States to be very large, with several winning market shares, including DKNG,” said Morgan Stanley.
– Samantha Subin, Hannah Miao, Yun Li and Sarah Min of CNBC contributed to the report.