Stock Market News
Midday Stock Movers: Foot Locker, Apple, Deere
2022.05.20 19:15
By Sam Boughedda
Investing.com — U.S. equities are down overall Friday lunchtime. Here are your midday movers on Friday, May 20th.
- Ross Stores Inc (NASDAQ:ROST) has tumbled 22% after it missed earnings and revenue estimates when it posted quarterly results after the close Thursday. The discount store company also provided downbeat guidance and said inflationary pressures have been heightened by the Russia-Ukraine conflict.
- Deere & Company (NYSE:DE), the agricultural machinery manufacturing company has tumbled 11% after missing Wall Street analyst revenue expectations. However, the company beat earnings expectations, reporting $6.81 per share, and raised its annual profit outlook.
- Foot Locker (NYSE:FL) topped quarterly profit estimates, posting earnings of $1.60 per share, beating estimates of $1.50. The company also said it expects to reach the upper end of its 2022 sales and earnings range. Foot Locker stock jumped over 9% earlier in the session but is now up 1.8%.
- Cybersecurity company Palo Alto Networks (NASDAQ:PANW) beat profit and revenue estimates when it released earnings data after the close Thursday. The company also raised full-year guidance. Its shares are up over 8% midday.
- Apple (NASDAQ:AAPL) initially rose at the start of Friday’s session but is now down 0.2% on the day. However, Wedbush analyst Dan Ives said in a note to clients that the iPhone maker was a compelling name to own right now.
- Applied Materials (NASDAQ:AMAT) has slumped 4.8% after the company missed earnings and revenue forecasts. The company said that while demand is strong, it is experiencing ongoing supply chain issues.
