3 Stocks to Watch on Wednesday: Nordstrom, Inc. (JWN), United Continental Holdings Inc (UAL) and WD-40 Company (WDFC)
U.S. equities have had a good start to the week, pushing higher on Tuesday, which saw auto stocks soar 1.8% and energy stocks up 1.5%. The S&P 500 Index edged 0.1% higher, the Dow Jones Industrial Average gained 0.4% and the Nasdaq Composite increased a 0.1%.
More companies released their holiday sales figures on Tuesday after the bell, including Nordstrom, Inc. (NYSE:JWN), United Continental Holdings Inc (NYSE:UAL) and WD-40 Company (NASDAQ:WDFC).
Here’s how they did:
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Nordstrom, Inc. (JWN)
Nordstrom shares took a hit despite the company’s holiday sales rising year-over-year.
The retailer announced that its net sales during the busy November and December period were up 2.5% compared to the year-ago period, while same-store sales popped 1.2%.
The company’s pared-down Rack division enjoyed the bulk of the success, with its same-store sales surging 2.9% following a negative streak of falling revenue. Net sales at Rack stores were up 8.2% year-over-year.
As far as the main Nordstrom brand goes, department stores saw their same-store sales fall by 1% during those months. The company added that its e-commerce business was also up, but the retailer did not disclose the specifics.
The store chain projects its full-year adjusted earnings to be in the range of $2.90 to $2.95 per share thanks to an updated 4.2% increase in net sales, while comparable sales will be up 0.5%. Nordstrom previously estimated earnings to be between $2.85 and $2.95 per share.
These adjustments do not reflect the pending changes from the U.S. tax reform.
JWN stock fell 1.1% after hours Tuesday.
United Continental Holdings Inc (UAL)
United Continental had a positive holiday period thanks to the increase in traveling that’s expected at that time of the year.
The parent company of United Airlines said that its December 2017 consolidated traffic — a metric that measures revenue passenger miles — grew 2.7% during the period.
The airline operator added that its consolidated capacity — the amount of available seat miles — gained 3.7% year-over-year. United’s consolidated load factor fell 0.8% from December 2016 to December 2017.
“Last month, our incredible employees braved subzero temperatures and peak holiday loads to lead United into first place among competitors in mainline on-time departures, completion factor and on-time arrivals,” said Scott Kirby, president of United Airlines.
He added that it was the company’s best-ever December for its operation. Kirby also updated the company’s fourth-quarter consolidated passenger unit revenue, which is slated to be flat compared to the year-ago quarter thanks to stronger yields.
UAL stock wafted up 2.1% after Tuesday’s market close.
WD-40 Company (WDFC)
WD-40 released its first-quarter results for its fiscal 2018.
The home and factory improvement services provider said that its earnings for the period came in at $12.6 million, or 90 cents per share. Analysts were calling for earnings of 83 cents per share.
WD-40’s revenue for the quarter tallied up to $97.6 million, ahead of the $93 million that the Wall Street consensus estimate called for. “Our flagship product, WD-40 Multi-Use Product grew 10 percent in the first quarter, and our WD-40 Specialist product line grew 29 percent compared to the prior year quarter,” said president and CEO Garry Ridge.
The company forecasts that its earnings for the full year will be in the range of $3.91 and $3.98 per share, while the revenue guidance calls for WD-40 to rake in between $396 million and $403 million.
WDFC stock gained 4.3% after the bell Tuesday.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
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