Nordstrom, Salesforce, Ford and more
Pedestrians pass a Nordstrom Inc. shop.
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Take a look at the top mid-day traders.
Nordstrom — Shares of the department store rallied a whopping 39% after the company reported better-than-expected profitsSales for the holiday quarter. Nordstrom offered an optimistic outlook on the future year due to its strong sales results. Nordstrom Rack’s off-price division, which Nordstrom calls Nordstrom Rack, has seen improvements. This comes amid reports that Nordstrom is looking into a possible spinoff.
Salesforce — Salesforce shares gained nearly 1% in midday trading after the company reported an earnings beat. Following beating its expectations for its fourth quarter, the software giant gave upbeat guidance. Adjusted earnings were 84cs per share for revenue of $7.33billion. According to Refinitiv, analysts expected a profit in the range of 74% per share for revenue of $7.24 trillion.
Ford — Shares of Ford jumped 6.5% midday after the company said it plans to separate its electric vehicle and legacy businesses. It is expected that the move will help to improve profits and streamline its growing electric vehicle company. Automaker Ford plans to report financial results by 2023 for its Ford+ unit and both vehicles.
SoFi — Shares of SoFi rose more than 4% in midday trading following its better-than-expected quarterly results. Analysts had predicted a loss at 17 cents per shares. The Fintech company posted a loss in the quarter of 15 cents. SoFi reported that it reached all-time highs of members added. It ended 2021 with approximately 3.5 million members. This is an 87% increase from the beginning.
Ross — Shares of Ross Stores jumped nearly 7% midday following a fourth-quarter earnings beat. On revenue of $5.02 trillion, the off-price retailer giant posted earnings of $1.04 per sen. For revenue of $4.96billion, analysts predicted earnings of 87 cents per sen.
Hewlett Packard — Shares of Hewlett Packard jumped 10.8% after the company topped earnings expectations for its most recent quarter. Hewlett Packard earned 53 cents per Share for its quarter. Analysts were beaten by 7cents. Refinitiv estimates were less than what was actually reported.
Abercrombie & Fitch — The retail stock sunk 15% midday after reporting weaker-than-expected quarterly results. Abercrombie & Fitch posted a profit of $1.14 per share, below analysts’ estimates of $1.27 per share. Analysts had expected revenue to be $1.18 billion.
First Solar — Shares of First Solar tumbled about 11% after the company missed revenue expectations for the fourth quarter. In addition, weak guidance for the entire year was issued by the manufacturer of solar panels.
Booking Holdings — Shares of the travel booking site operator gained nearly 5% after Evercore ISI upgraded the stock to outperform from in line. According to the firm, it expects leisure travel recovery to be faster.
DraftKings — Shares of DraftKings dipped nearly 3% despite Morgan Stanley naming the sports-betting stock a top pick. Morgan Stanley indicated that they expect the US online gambling/iGaming market will be huge, and there are a few winners in this market, like DKNG.
— CNBC’s Samantha Subin, Hannah Miao, Yun Li and Sarah Min contributed reporting