Foot Locker gets trampled, Nike and Under Armour take hits, Deere dumped on revenue miss
Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today. Earnings top our list.
Investors are dumping shares of Deere (DE) this morning after the farm and construction equipment maker delivered mixed results for last quarter. Earnings topped estimates, but revenue fell short of Wall Street views, despite US sales increasing 11% and global sales jumping 25%. Deere also raised its outlook for the year.
Foot Locker (FL) shares got trampled this morning. The shoe apparel retailer posted a miss on both its top and bottom lines as revenue and same store sales both declined more than expected in the second quarter. The news is also weighing on sporting apparel names Nike (NKE) and Under Armour (UA).
Gap (GPS) shares turned lower after being higher most of the morning. The retailer raised its outlook for the year after it reported better-than-expected earnings and revenue for the second quarter. Even though revenue fell from a year ago, earnings more than doubled and same-store sales improved.
Shares of power-generation company Calpine (CPN) surged in early trading. Energy Capital Partners and a group of investors are buying the company for $5.6 billion in cash. That translates $15.25 a share, which is a a 13% premium based on Calpine’s closing price on Thursday.
US-listed shares of Infosys (INFY) fell after its CEO abruptly resigned. Former CEO Vishal Sikka was brought on to make Infosys an industry trendsetter but cited resistance to strategy changes for his departure. Sikka will remain executive vice chairman of the Bangalore-based company.
