PacWest, Petco stocks fall, Kohl’s and Abercrombie shares surge, and other stocks on the move

by user


Here are some of the bigger stock movers on Wednesday’s:

Stock gainers:

Shares of Urban Outfitters Inc.

jumped 16% in midday trading after the retailer reported better-than-expected quarterly profit and sales in its first quarter.

Kohl’s Corp.‘s stock

leapt more than 8% after the department-store chain reported a surprise fiscal first-quarter profit, even as sales fell a bit below forecasts.

Abercrombie & Fitch Co. shares

rocketed 26%, after the specialty apparel and accessories retailer reported a surprise fiscal first-quarter profit, amid strength in its Abercrombie brand.

Palo Alto Networks Inc. shares

rose 9% after the cybersecurity company turned in another beat-and-raise quarter and its CEO Nikesh Arora forecast the software industry would be transformed by AI over the next 12 to 24 months.

Stock decliners:

Shares of Petco Health & Wellness Co. Inc.

tumbled 19% after the pet food and health products company beat first-quarter profit and revenue expectations, but only maintained its full-year outlook as it continues to see uncertainty in the discretionary environment.

Children’s Place Inc.’s stock

plunged 20% after the kids apparel retailer posted a wider-than-expected first-quarter loss and sales that lagged estimates.

Agilent Technologies Inc.‘s stock

sank 8% after the lab-equipment maker cut its full-year outlook to reflect “increased market uncertainties.

PacWest Bancorp shares

fell 1.6%, reversing an earlier intraday gain of as much as 3.3%, after the Beverly Hills, Calif.-based regional bank said it will sell its real-estate lending arm to Roc360 for an unspecified sum, as the beleaguered regional bank moves to refocus on its core business. The stock’s decline was part of a broader pullback in the regional bank sector, as the SPDR S&P Regional Banking exchange-traded fund

shed 2.0%.

Intuit Inc. stock

dropped more than 7% after the Turbo Tax parent reported a narrow revenue miss for its fiscal third quarter, and raised guidance.

Express Inc. shares

slumped 19%, after the clothing retailer posted a wider-than-expected first-quarter loss and weaker-than-expected sales, amid an environment of reduced consumer spending, increased price sensitivity in discretionary categories and aggressive promotional activity.

The Vita Coco Co. Inc.’s stock


fell 3%, after shareholder Verlinvest Beverages SA. upsized a secondary offering, selling 5 million shares priced at $23 each, up from original plans to offer 4.5 million shares. The stock closed Tuesday at $24.56.

Sarepta Therapeutics Inc. said the U.S. Food and Drug Administration has indicated after talks with the company that it’s working toward granting accelerated approval of SRP-9001, its latest treatment for Duchenne muscular dystrophy, or DMD, but the stock

fell 11% in midday trading.


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