Burlington, Big Lots, Pinterest: Trending Tickers
Burlington (BURL) — the parent company of Burlington Coat Factory — shares jump after reporting topping fourth-quarter profit and sales estimates.
Discount retailer Big Lots (BIG) saw wider-than-expected losses on its bottom line in the fourth quarter.
Jefferies analysts believe Pinterest (PINS) possesses "multiple ways to win" in 2024.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
- All three majors are in the green as investors await Fed Chair Powell's semi-annual testimony before the Senate, investors looking to Jay Powell for more clarity and further clues on the timing of rate cuts.
- Taking a look at some of those individual trending tickers, first up, Burlington shares up just about 8.5%, its fourth-quarter profit and sales beating the Street's expectations. The retailer also saw gross margins improve while its inventory levels fell.
- And shares of Big Lots in the red this morning as, actually, they've pivoted and moved higher. They're up by about 6% right now, the discount retailer reporting disappointing quarterly results though as its net loss for the quarter widened-- further widened to $30.7 million.
But CEO Bruce Thorn is staying optimistic. Thorn sees a path to positive comparable sales and expects gross margin improvements to continue throughout the year.
- And Pinterest is moving higher, Jeffries saying it would buy the recent stock weakness. You're looking at gains of just over 1%. Now, the analyst there reiterating its buy rating on the stock, saying that they see the potential for 20% full-year revenue growth for the year. Again, Pinterest trading just around $35 a share.
