On today’s episode of Free Lunch, Ryan McQueeney chats about stocks looking to rebound from their worst start to Thanksgiving week in decades. The host also recaps earnings results from Foot Locker, Gap, and Deere & Co.
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Free Lunch is presented by Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
U.S. stocks were in the green on Wednesday morning, as Wall Street hoped to rebound from its worst start to Thanksgiving week in decades. The Dow and S&P 500 erased their year-to-date gains on Tuesday, and the latter of those two key benchmarks posted its worst two-day open to the short holiday week since 1973.
Part of today’s rebound was fueled by more positive results from the retail sector. Foot Locker (
FL - Free Report) , for instance, saw its stock soar after reporting better-than-expected earnings and revenue. The athletic retailer also notched comps growth of nearly 3% and issued upbeat guidance for the full year.
Investors were also sending Gap (
GPS - Free Report) shares higher after its report. The retail umbrella company saw strong numbers at Old Navy and Banana Republic, which was enough to send its stock higher after a tough year. There are still question marks about the namesake brand, and guidance was light, but investors responded optimistically today.
Another major earnings report today was from agriculture equipment giant Deere & Co. (
DE - Free Report) . The parent company of John Deere posted shaky number, missing estimates on the top and bottom line and issuing relatively muted revenue guidance.
Nevertheless, shares of Deere rallied into the green after the company’s conference call, perhaps suggesting that investors are in the mood to start buying again after a difficult stretch for the broader market.
Make sure to check out today’s show to get all the key facts and hear Ryan’s perspective on the above stories!
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