On this episode of Stock Movers:
- Shares of Macy's (M) declined ahead of the opening bell after its profit forecast for the current quarter disappointed investors, overshadowing solid results in the lead-up to the holiday shopping season. The company said it expects its adjusted diluted earnings per share to range between $1.35 to $1.55 in the current quarter. The midrange of that forecast is below the average estimate of analysts. Macy’s Chief Executive Officer Tony Spring struck a cautious note on consumer spending in the coming weeks, saying in an interview that guidance was “prudent” and that the company is facing strong results from a year ago.
- Shares of American Eagle Outfitters (AEO) rallied ahead of the US market open after the company posted third-quarter results that outpaced expectations and raised its outlook as the apparel chain pivots quickly from weakness earlier this year. Comparable sales are expected to rise in the low single digits for the full fiscal year, the company said in a statement, up from its previous view that they’d be flat. Revenue and earnings per share for the third quarter also surpassed the average of analyst estimates.
- Shares of Marvell Technology (MRVL) rallied in the early session after the chipmaker said during its conference call that it expects data center revenue to grow by more than 25% next fiscal year. The company also announced plans to acquire startup Celestial AI for about $3.25 billion. On a post-earnings conference call with analysts, Marvell said it’s now more bullish about revenue growth next year and predicted that custom chip sales will increase 20%. Large customers have renewed orders, and Marvell said there won’t be a repeat of previous “air pockets,” when sales in that unit have declined.

On this episode of Stock Movers: - Shares of Macy's (M) declined ahead of the opening bell after its profit forecast for the current quarter disappointed investors, overshadowing solid results in the lead-up to the holiday shopping season. The company said it expects its adjusted diluted earnings per share to range between $1.35 to $1.55 in the current quarter. The midrange of that forecast is below the average estimate of analysts. Macy&rsquo;s Chief Executive Officer Tony Spring struck a cautious note on consumer spending in the coming weeks, saying in an interview that guidance was &ldquo;prudent&rdquo; and that the company is facing strong results from a year ago. - Shares of American Eagle Outfitters (AEO) rallied ahead of the US market open after the company posted third-quarter results that outpaced expectations and raised its outlook as the apparel chain pivots quickly from weakness earlier this year. Comparable sales are expected to rise in the low single digits for the full fiscal year, the company said in a statement, up from its previous view that they&rsquo;d be flat. Revenue and earnings per share for the third quarter also surpassed the average of analyst estimates. - Shares of Marvell Technology (MRVL) rallied in the early session after the chipmaker said during its conference call that it expects data center revenue to grow by more than 25% next fiscal year. The company also announced plans to acquire startup Celestial AI for about $3.25 billion. On a post-earnings conference call with analysts, Marvell said it&rsquo;s now more bullish about revenue growth next year and predicted that custom chip sales will increase 20%. Large customers have renewed orders, and Marvell said there won&rsquo;t be a repeat of previous &ldquo;air pockets,&rdquo; when sales in that unit have declined.

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Stock Movers

Macy's Guidance Underwhelms; American Eagle Rallies; 

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