Midday Stock Movers: Dollar Tree, Kraft Heinz, GameStop

2022.05.26 19:25

By Sam Boughedda

Investing.com — US equities are gaining Thursday with the Nasdaq the biggest mover at +2.31%. Here are your midday movers on Thursday, May 26th.

• Alibaba Group ADR’s (NYSE:BABA), the Chinese e-commerce giant, is up 13.4% after it beat forecasts for its latest quarterly earnings and revenue. Its results were helped by online demand due to Covid-related lockdowns in China.
• GameStop (NYSE:GME) shares jumped in early Thursday trading, with the stock currently 10% higher, despite Wedbush analysts maintaining an Underperform rating on the stock.
• Dollar Tree (NASDAQ:DLTR) beat analyst consensus estimates when it reported first-quarter earnings before the bell. In addition, the discount store operator raised its full-year sales outlook, sending its shares 19% above Wednesday’s close.
• Another discount store company, Dollar General (NYSE:DG), also topped earnings and revenue expectations, sending its shares 12% higher. Comparable store sales fell less than anticipated, and the company raised its same-store sales guidance.
• Macy’s (NYSE:M) stock has jumped 12% after the department store increased its full-year profit expectations as the company adds to the current trend of retailers experiencing strong apparel demand with consumers returning to work and attending social events.
• Baidu Inc (NASDAQ:BIDU) is trading 12% higher midday Thursday after it topped first-quarter expectations, helped by its cloud services and artificial intelligence products.
• Kraft Heinz Co (NASDAQ:KHC) stock has tumbled 7% after the stock was downgraded to Sell from Neutral at UBS. Analyst Cody Ross also cut the firm’s price target on the stock to $34 from $40, stating the company is dealing with high inflationary pressures.

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