Welcome to a very special retail edition of charts of the day, and it’s not all bad news.
Dick’s Sporting Goods (DKS) topped Street forecasts for sales and profits, however, the sporting goods retailer said 2018 earnings could drop as much as 20%. The stock is off 6.7% on the news.
TJX Companies (TJX), parent of discount retailers TJ Maxx, Marshalls and Home Goods, reported flat same store sales that were below Street expectations for a 2.4% increase. Guidance from the retailer also disappointed, with projected fourth quarter EPS of $1.25 to $1.27 versus the $1.27 consensus.
Finally, Home Depot (HD) beat on earnings and same-store sales (after a big boost from hurricane related spending), and the home improvement retailer raised its full-year guidance. After releasing earnings, the stock was up 2%, then fell 3% and is now trading up 0.75%.
Today’s big movers
- General Electric (GE) fell 6.8% after RBC Capital Markets downgraded the stock to sector perform, citing expectations for longer turnaround. GE announced plans to cut its dividend on Monday.
- Aramark (ARMK) is trading 4.9% lower after posting earnings and revenue that missed expectations. The food service provider also reported 2018 guidance below Street forecasts.
- Altice USA (ATUS) is down 9.6% after Jana Partners revealed in its 13F filing that it liquidated its 200,000 share position in the telecom company.
- Buffalo Wild Wings (BWLD) is soaring over 24% after The WSJ reported the casual dining chain received a takeover bid of more than $150 a share (about a 28% premium to Monday’s close), from private equity firm Roark Capital.