:max_bytes(150000):strip_icc()/GettyImages-2231532477-edb8b806b19444c38ce90f124a3db020.jpg "Kohl’s, Cracker Barrel, Canada Goose, and More")
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2231532477-edb8b806b19444c38ce90f124a3db020.jpg)
Key Takeaways
- U.S. equities were slightly higher at midday following the release of more corporate earnings reports and as the market waited for today’s financial results from Nvidia.
- Kohl’s beat profit expectations and raised its outlook as the retailer’s turnaround plan lifted results.
- High coffee prices led J.M. Smucker to a quarterly loss.
U.S. equities were higher and little changed at midday as the market weighed the latest corporate earnings news and awaited this afternoon’s key report from Nvidia (NVDA). The Dow Jones Industrial Average, S&P 500, and Nasdaq were all up.
Kohl’s (KSS) shares took off after the struggling retailer easily beat earnings estimates and boosted its guidance as its turnaround plan helped drive business.
Shares of Cracker Barrel Old Country Store (CBRL) gained when the throwback restaurant chain announced it would bring back its old logo. The stock price had slumped on blowback from customers when the logo was changed.
Canada Goose Holdings (GOOS) shares jumped on a report that Bain Capital, the controlling shareholder in the maker of high-end winter clothing, has received offers to take the firm private.
J.M. Smucker (SJM) shares tumbled when the owner of brands including Jif peanut butter and Folger’s coffee posted a quarterly loss as its coffee sales were hurt by higher prices.
Shares of SBA Communications (SBAC) slumped on a downgrade from Bank of America, which raised concerns about the impact of rival AT&T’s (T) purchase of EchoStar’s (SATS) low- and mid-range spectrum allocations.
Oil and gold futures rose. The yield on the 10-year Treasury note was little changed. The U.S. dollar gained on the euro, pound, and yen. Most major cryptocurrencies traded in the green.
TradingView
