Midday Movers: Wendy’s, Kohl’s, Snap

2022.05.25 19:16

By Sam Boughedda

Investing.com — U.S. equities are gaining Wednesday, with the Nasdaq up 0.8% at lunchtime. Here are your midday movers on May 25th.

• Dick’s Sporting Goods (NYSE:DKS) stock has jumped more than 10% after initially tumbling premarket following its earnings release. The company provided weaker-than-expected full-year guidance, but earnings and revenue beat expectations.
• After Tuesday’s 43% plunge Snap (NYSE:SNAP) has climbed over 12% Wednesday. Shares plunged after the social media giant issued a profit warning, saying the macroeconomic environment has deteriorated “further and faster than anticipated.”
• Intuit (NASDAQ:INTU) posted its latest quarterly results after the close Tuesday, beating earnings and revenue estimates and raising full-year revenue guidance.
• Department store chain Nordstrom (NYSE:JWN) is up over 10% midday after it raised its annual profit and sales forecasts, with comparable sales above pre-pandemic levels. The company reported a wider-than-expected loss for the quarter, with revenue beating analyst estimates.
• Wendy’s (NASDAQ:WEN) is up 10% on news Trian Fund Management, which owns a 19.4% stake in the company, is exploring an acquisition or other possible deal for the restaurant chain.
• Kohl’s (NYSE:KSS) is trading 16% higher after the company revealed increased investment in stores, which will include 100 new smaller format stores, and Sephora entering 850 Kohl’s stores.

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