Midday Movers: Zoom Video, Macy’s, Denny’s and More

2022.08.23 21:10

By Liz Moyer

Investing.com — U.S. stocks were mixed on Tuesday ahead of the Federal Reserve’s meeting in Jackson Hole, Wyo. Here are the midday movers for Aug. 23:

• Zoom Video (NASDAQ:ZM) shares fell 14% after it cut its forecast for the full year as revenue growth is seen slowing from the pandemic boom times for videoconferencing.
• Macy’s (NYSE:M) shares rose nearly 5% after the department store beat expectations and hinted that its digital marketplace was about to roll out. It cut its full year estimate but did say sales of office apparel and higher-end items were still strong despite inflation.
• Denny’s (NASDAQ:DENN) shares jumped 8% after analysts from Wedbush raised their rating to outperform from neutral, saying the restaurant chain will benefit as macroeconomic challenges subside.
• Aerie Pharmaceutical (NASDAQ:AERI) stock jumped 35% after Alcon (NYSE:ALC) agreed to buy it for a 37% premium to Monday’s closing price.
• Dick’s Sporting Goods (NYSE:DKS) shares rose 2% after the sporting goods retailer raised its forecasts for the year after beating second quarter expectations. It now says same store sales could grow, compared with an earlier forecast that saw them shrinking.

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