Midday movers: Kohl's, Foot Locker, Peloton and more
Investing.com -- U.S. stocks were rising as investors anticipated an update on artificial intelligence from Nvidia (NASDAQ:NVDA), which reports earnings after the closing bell.
Here are some of the biggest U.S. stock movers today:
Kohl’s (NYSE:KSS) stock rose 3.9% after the department store operator beat quarterly profit estimates, as leaner inventories, lower costs, and fewer discounts helped to counter a broader retail slowdown.
Foot Locker (NYSE:FL) stock slumped 30% after the sportswear retailer reported another quarter of falling sales, paused quarterly dividends, and slashed its outlook for the second time this year, blaming “consumer softness.”
Peloton (NASDAQ:PTON) stock slumped 24% after the exercise bike retailer forecast first-quarter revenue below estimates as a shift in consumer spending toward travel and experiences hurt demand for its equipment.
Urban Outfitters (NASDAQ:URBN) stock rose 2.2% after the apparel retailer beat expectations for the second quarter as same-store sales rose, driven by growth in retail stores and online sales.
La-Z-Boy (NYSE:LZB) stock fell 1.6% after the furniture manufacturer said the industry will remain "challenged," with a potential seasonal boost.
Toll Brothers (NYSE:TOL) stock rose 3.4% after the homebuilder beat expectations for third-quarter profit, as demand for luxury homes in a tighter resale market boosted new home sales.
WeWork (NYSE:WE) stock fell 14.8% after the New York Stock Exchange suspended trading in the workspace provider's warrants.
Stellantis (NYSE:STLA) stock rose 0.3% after Bloomberg News reported that the auto giant is exploring options to partner with a Chinese electric vehicle maker as it tries to expand its presence in the world's largest auto market.
Apellis Pharmaceuticals (NASDAQ:APLS) stock soared 31% after the biopharmaceutical company provided a key safety update about its injection kits and the rare events of retinal vasculitis related to its eye drug, Syfovre.
AMC Entertainment (NYSE:AMC) stock fell 10%, continuing to drop after the approval of a rescue deal that will allow the deeply indebted cinema chain to issue more shares.
-- Peter Nurse contributed to this report
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