Midday movers: Agilent, VMware, Lowe’s and more
(Updated - November 21, 2023 12:31 PM EST)
Investing.com – Main U.S. indexes declined on Tuesday as investors awaited the release of the minutes from the most recent Federal Reserve meeting, along with key results from chip designer and AI powerhouse Nvidia (NASDAQ:NVDA) after the market close.
Here are some of the biggest U.S. stock movers today:
Lowe’s (NYSE:LOW) stock fell 3% after the home improvement retailer cut its full-year financial guidance, saying it was hit by a larger-than-anticipated pullback in consumer spending on big-ticket items in its third quarter. Best Buy (NYSE:BBY) stock fell 1% after the consumer electronics company slashed its full-year revenue outlook, projecting a decline in comparable sales in the key holiday quarter. Kohl’s (KSS) stock fell 9% after the department store chain posted a bigger than expected drop in quarterly sales, as customers spent less dollars amid persistently high inflation. Zoom (NASDAQ:ZM) stock fell 0.7%. Although the video conferencing platform raised its annual revenue and profit forecasts after beating expectations in its third quarter, its glory days appear to be over with year-on-year growth non-existent. Agilent (NYSE:A) stock rose 9% after the healthcare equipment provider beat expectations in its fourth quarter, despite what CEO Mike McMullen called a “challenging year for the industry.” Medtronic (NYSE:MDT) stock rose 4% after the medical device manufacturer raised its annual revenue and earnings outlook following "broad-based, diversified" growth in its fiscal second quarter. Baidu (NASDAQ:BIDU) stock rose 1.3% after the Chinese tech giant beat expectations with its third-quarter revenue, even though growth was slower than during the previous three months. Symbotic (SYM) stock soared over 37% after the warehouse automation company easily beat expectations for its fiscal fourth quarter and guided the market higher for the current period. Zions Bancorporation (NASDAQ:ZION) stock fell 3% after Citigroup downgraded its stance on the regional lender to ‘neutral’ from ‘buy’, citing an overly inflated valuation. American Eagle Outfitters (NYSE:AEO) declined 17% following its latest quarterly earnings, despite topping consensus estimates and raising its annual revenue forecast. Concerns about margins weighed on the stock. Burlington Stores (NYSE:BURL) climbed 20% after it reported third-quarter earnings per that beat consensus. Dick's Sporting Goods (NYSE:DKS) climbed 5% after it reported better-than-expected earnings for the third quarter. VMware, Inc. (NYSE:VMW) declined 4.7%. Broadcom (NASDAQ:AVGO) plans to close its $69 billion acquisition of cloud computing firm on Wednesday. It has now received all regulatory approvals for the purchase after China approved the acquisition with additional conditions. Tesla (NASDAQ:TSLA) climbed 2.5%. Anticipation is building ahead of its Cybertruck delivery event on November 30.
Additional reporting by Louis Juricic
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