Today's charts: Target shares climb; American Eagle drops on earnings miss; Cisco quarterly results on tap
Yahoo Finance is tracking American Eagle Outfitters (AEO), Target (TGT) and Cisco (CSCO) in intraday trading on Wednesday.
American Eagle Outfitters (AEO) – The retailer is under pressure after missing on earnings and forecasting weaker then expected same-store sales for the current quarter. American Eagle reported adjusted earnings of 16 cents per share, down from 22 cents a year ago and missing analysts’ expectations of 17 cents. American Eagle was forced to discount merchandise during the quarter as it faced stiff competition in the industry. However, the company did beat on revenue. American Eagle reported sales of $761.8 million, topping expectations of $743.6 million.
Target (TGT) – The retail giant topped Wall Street earnings expectations on both the top and bottom lines, and reported a smaller-than-expected drop in same-store sales. Target posted adjusted earnings of $1.21 a share on revenue of $16.02 billion. Analysts had forecasted EPS of 91 cents on revenue of $15.62 billion. Same-store sales fell 1.3%, better than the forecasted 3.7% decline. Despite the stronger-than-expected results, Target is off to a rough start this year. Shares are down about 22% since January 1.
Cisco (CSCO) – The tech giant is scheduled to report fiscal third-quarter earnings after the bell Wednesday. Cisco is expected to post earnings of 58 cents a share on revenue of $11.89 billion. Analysts will be keeping a close eye on its fast-growing security business and whether the company is able to offset declining sales in its switches and routers division. Cisco shares are up about 13% since the start of the year.
For more on Wednesday’s big stock movers and earnings after the bell, check out the Final Round, live at 4 p.m. ET, right here on Yahoo Finance.
