NOTE: Trending Tickers is an index compiled exclusively by Yahoo Finance every day. It’s a list of companies whose stocks are seeing the biggest bump in interest as measured by your Yahoo Finance Ticker searches.
Here are five of today’s Trending Tickers: Domino’s Pizza (DPZ), Mommy deals site Zulily (ZU), Two different Depot’s make the list -- Office (ODP) and Home (HD) -- and today’s number one trending ticker...Macy’s (M)
The popular department store’s stock is up over 3% after it announced Q4 earnings that beat the consensus on EPS but faltered on revenues, bringing in $9.2 million in the quarter vs. $9.35 million in the same period last year.
Macy’s a is a nice example of what happens when a great company meets a lousy environment. In this case literally. Like every retailer we’re going to hear from over the next week, Macy’s was negatively impacted by series of storms that paralyzed much of the country last month. According to CEO Terry Lundgren, at one point in January about 30% of Macy’s stores were closed because of the weather. That’s a decent justification for weak revenue growth and ginned up earnings.
Analysts went into Macy's call fearing the worst and instead got decent results and an affirmation that business is picking up. That was good enough to trigger today’s move. Not every CEO gets the benefit of the doubt on those type of statements but Terry Lundgren is one of the best.
It remains to be seen if the market will be so charitable when it hears from highly levered laggard JC Penney (JCP) when the company reports tomorrow.
We’ll see you back here tomorrow.