Pedestrians walk past a Nordstrom Inc.
Ben Nelms | Bloomberg | beautiful pictures
Check out the companies that hit the headlines in midday trading.
Nordstrom – Shares of the department store rose 39% after the company better-than-expected earnings report and sales for the holiday quarter. The results also led Nordstrom to offer an optimistic outlook for next year. Meanwhile, the retailer has called for improvements in its discount business, Nordstrom Rack, amid reports that the company is looking into a potential byproduct.
Sales force – Salesforce shares jumped nearly 1% in midday trading after the company reported a beat of income. The software giant gave upbeat guidance after beating fourth-quarter expectations for earnings and margins. The company posted adjusted earnings of 84 cents per share on revenue of $7.33 billion. Analysts expect a profit of 74 cents per share on revenue of $7.24 billion, according to Refinitiv.
Ford – Shares of Ford jumped 6.5% at midday after the company said it had a plan separate the electric vehicle business and the legacy business. The move is supposed to streamline the company’s burgeoning electric vehicle business and maximize profits. The automaker plans to disrupt financial results for both its Ford+ units and business in 2023.
SoFi – Shares of SoFi jumped more than 4% in midday trading following better-than-expected quarterly results. The fintech company reported a loss of 15 cents per share, compared with analyst predictions of a loss of 17 cents per share. SoFi also reported hitting an all-time high in terms of members added, ending 2021 with around 3.5 million members, an 87% increase from the start of the year.
Ross – Shares of Ross Stores were up nearly 7% at midday after beating fourth-quarter profits. The discount retail giant reported earnings of $1.04 per share on revenue of $5.02 billion. Analysts 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 topped earnings expectations in its most recent quarter. Hewlett Packard posted earnings of 53 cents per share for the quarter, beating analyst estimates of 7 cents. Revenue fell short of Refinitiv’s consensus estimate.
Abercrombie & Fitch Retail stocks fell 15% at midday after reporting weaker-than-expected quarterly results. Abercrombie & Fitch posted profit of $1.14 per share, below analyst estimates of $1.27 per share. Revenue was $1.16 billion, missing analysts’ estimates of $1.18 billion.
Booking Holdings – Shares of the travel booking website operator jumped nearly 5% after Evercore ISI upgraded shares superior than in the row. The company said it saw a “faster” recovery in leisure travel.
DraftKings – DraftKings shares drop nearly 3% despite Morgan Stanley naming sports betting stocks a top pick. “We expect the US online sports betting/iGaming market to be huge, with a few market share winners, including DKNG,” said Morgan Stanley.
– CNBC’s Samantha Subin, Hannah Miao, Yun Li and Sarah Min contributed reporting.