Pedestrians pass a Nordstrom Inc. store. in the Midtown neighborhood of New York City on March 20, 2020.
Gabby Jones | Bloomberg | Getty Images
Check out the companies that are owners in the noon trade.
Nordstrom: Retail shares fell more than 16%, although Nordstrom exceeded expectations for the top and bottom lines of the second quarter. The company released its quarterly results on Tuesday afternoon. JPMorgan downgraded shares to underweight from neutral. The investment firm said in a note to clients that Nordstrom did not appear to be underperforming, although the environment can be “as good as it gets”, creating a risk to the downside of the shares.
Dick Sporting Goods: The shares of the sporting goods retailer hit an all-time high, rising more than 15% after reporting strong quarterly earnings that exceeded estimates of $ 2.28. The company also announced a special dividend of $ 5.50 per share and a 21% increase in its quarterly dividend.
Campbell Soup: Food stocks fell 2% after Piper Sander’s drop. The investment firm changed its rating from Campbell Soup to neutral from being overweight, saying in a note to clients that commodity inflation, especially for steel, would hurt the company’s profits the following year. .
Toll Brothers: Home builder shares rose nearly 4% after the company’s quarterly results. Toll Brothers earned $ 1.87 per share during the period, which was 32 cents above what analysts surveyed by Refinitiv expected. Revenue essentially matched expectations, as low inventory and low mortgage rates helped the company.
DraftKings: Sports betting company shares rose more than 4% after Cathie Wood’s ARK Invest on Tuesday loaded 1,073,171 shares of various funds. The position is worth about $ 60 million depending on Tuesday’s closing price.
Boston Beer Company: The brewing company fell more than 4% after Cowen downgraded shares to lower market performance. The Wall Street firm said the recent recession in the seltzer category is shrinking significantly.
Urban Outfitters: Urban Outfitters shares fell more than 8%, despite a better-than-expected quarterly earnings report. The clothing retailer made profits of $ 1.28 per share during its last quarter, surpassing the 77 cents per share Refinitiv consensus estimate. Urban Outfitters revenue also exceeded forecasts. However, the company also mentioned that it was dealing with supply chain issues.
Beyond meat: Shares of the alternative meat producer fell more than 2% after Argus downgraded shares to stay in the purchase. The research firm said Beyond Meat appears to be poised for disappointing results in the short term. He also expects concerns about the Delta variant to have a negative impact on sales.
– CNBC’s Maggie Fitzgerald, Jesse Pound, Pippa Stevens, Hannah Miao and Tanaya Macheel contributed to the communication.