On this episode of Stock Movers:
- Macy's (M) shares are getting a big bump from earnings. It raised its annual outlook and reported its best comparable sales growth in 12 quarters. The retailer now expects net sales of as much as $21.45 billion for the fiscal year and lifted its adjusted diluted EPS guidance. Despite the improved outlook, Macy's warned of a more cautious consumer in the second half of the year and quarterly revenue has fallen on an annual basis for 13 quarters in a row.
- Google (GOOG) shares are higher this morning after a court win yesterday. A US judge ruled against the government's proposals to break up Google, including a forced sale of its Chrome browser, in the biggest antitrust case in three decades. Google will have to make some concessions, including sharing online search data with rivals and ending exclusive contracts for distribution, according to the judge's ruling. The ruling is seen as a setback for the US government in its bid to curb the power of Big Tech companies, with Google's shares jumping and the company praising the decision for recognizing the impact of AI on the search industry.
- Starbucks (SBUX) shares are moving as it announces it will launch protein-boosted lattes and cold foam in the US and Canada on Sept. 29 as part of its menu modernization strategy.