We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
It’s a big morning for earnings reports, perhaps the final flurry of retail companies posting results from a mixed — but mostly successful — fiscal Q3 ahead of the opening bell. Pre-market futures are mixed, with the Dow and small-cap Russell 2000 — both coming off record closing highs yesterday — trading lower by -150 points and -9 points, respectively. The S&P 500 is up +13 and the Nasdaq +58.
Earnings Report Roundup: M, ANF, DKS, BBY
Macy’s ((M - Free Report) delayed releasing its full quarterly earnings report this morning, after saying a former employee of the big-box retailer has hid up to or more than $150 million, thus potentially skewing bottom-line numbers. Revenues were pre-reported at $4.742 billion, above the $4.72 billion expected but -2.4% from the year-ago quarter.
Abercrombie & Fitch ((ANF - Free Report) shares were flat immediately after its very successful Q3 earnings report this morning, with earnings of $2.50 per share speeding past the $2.32 of the Zacks consensus. But the Zacls Rank #2 (Buy)-rated stock is now up +4% in early trading. Revenues of $1.21 billion beat expectations by +2.37%, and the apparel icon raised forward guidance. Comps rose an impressive +16% from the year-ago quarter. Shares had already been up +69% year to date.
Dick’s Sporting Goods ((DKS - Free Report) posted its typical beat across the board, with earnings of $2.75 per share outpacing the Zacks consensus by 7 cents, and sales of $3.06 billion surpassing its estimate by +1.25%. Comps were up more than +4% more the third-straight quarter, and the company said in its press release that it does not have much exposure to tariffs expected to affect China, Canada and elsewhere.
Best Buy ((BBY - Free Report) shares, however, are trading down -5% at this hour after breaking its streak of 9-straight quarters with an earnings beat; its $1.26 per share missed expectations by 4 cents, and $9.45 billion in quarterly sales was beneath the $9.63 billion anticipated. Comps guidance is lower than analysts had been projecting, so the stock’s Zacks Rank #2 looks like it may be in jeopardy.
More Earnings After Today’s Close
We’ll see more earnings results on this final flurry of Q3 earnings season after today’s close. Dell Technologies ((DELL - Free Report) and Urban Outfitters ((URBN - Free Report) are among those well-known names posting results this afternoon.
After the opening bell, we expect Consumer Confidence numbers for November and New Home Sales for October. This afternoon, minutes of the latest FOMC meeting, where the Fed lowered interest rates 25 basis points to a range of 4.50-4.75%. Will there be some indication this will be the final move the Fed makes for 2024?
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Earnings Data Deluge
It’s a big morning for earnings reports, perhaps the final flurry of retail companies posting results from a mixed — but mostly successful — fiscal Q3 ahead of the opening bell. Pre-market futures are mixed, with the Dow and small-cap Russell 2000 — both coming off record closing highs yesterday — trading lower by -150 points and -9 points, respectively. The S&P 500 is up +13 and the Nasdaq +58.
Earnings Report Roundup: M, ANF, DKS, BBY
Macy’s ((M - Free Report) delayed releasing its full quarterly earnings report this morning, after saying a former employee of the big-box retailer has hid up to or more than $150 million, thus potentially skewing bottom-line numbers. Revenues were pre-reported at $4.742 billion, above the $4.72 billion expected but -2.4% from the year-ago quarter.
Abercrombie & Fitch ((ANF - Free Report) shares were flat immediately after its very successful Q3 earnings report this morning, with earnings of $2.50 per share speeding past the $2.32 of the Zacks consensus. But the Zacls Rank #2 (Buy)-rated stock is now up +4% in early trading. Revenues of $1.21 billion beat expectations by +2.37%, and the apparel icon raised forward guidance. Comps rose an impressive +16% from the year-ago quarter. Shares had already been up +69% year to date.
Dick’s Sporting Goods ((DKS - Free Report) posted its typical beat across the board, with earnings of $2.75 per share outpacing the Zacks consensus by 7 cents, and sales of $3.06 billion surpassing its estimate by +1.25%. Comps were up more than +4% more the third-straight quarter, and the company said in its press release that it does not have much exposure to tariffs expected to affect China, Canada and elsewhere.
Best Buy ((BBY - Free Report) shares, however, are trading down -5% at this hour after breaking its streak of 9-straight quarters with an earnings beat; its $1.26 per share missed expectations by 4 cents, and $9.45 billion in quarterly sales was beneath the $9.63 billion anticipated. Comps guidance is lower than analysts had been projecting, so the stock’s Zacks Rank #2 looks like it may be in jeopardy.
More Earnings After Today’s Close
We’ll see more earnings results on this final flurry of Q3 earnings season after today’s close. Dell Technologies ((DELL - Free Report) and Urban Outfitters ((URBN - Free Report) are among those well-known names posting results this afternoon.
After the opening bell, we expect Consumer Confidence numbers for November and New Home Sales for October. This afternoon, minutes of the latest FOMC meeting, where the Fed lowered interest rates 25 basis points to a range of 4.50-4.75%. Will there be some indication this will be the final move the Fed makes for 2024?