Stocks making the biggest moves midday: Dick's Sporting Goods, Macy's, Charles Schwab and more
Check out the companies making headlines in midday trading.
Dick's Sporting Goods — The retail stock tumbled nearly 24% after Dick's reported a rare earnings miss and slashed guidance for the year, thanks in part to an uptick in store theft. Earnings per share for its fiscal second quarter was $2.82, far short of the $3.81 consensus estimate, per Refinitiv. Revenue was $3.22 billion, versus the $3.24 expected.
Macy's – The department store stock sank 11% after Macy's reiterated its cautious full-year outlook. Macy's said it expects adjusted earnings per share between $2.70 and $3.20, adding it sees comparable store sales falling between 6% and 7.5%.
Lowe's – Lowe's shares gained 4% after the home improvement retailer topped earnings expectations and reiterated its full-year guidance. The company reported earnings of $4.56 per share, versus the $4.49 expected by analysts surveyed by Refinitiv. Revenue came in at $24.96 billion, shy of the $24.99 billion anticipated.
Charles Schwab — Shares of the brokerage firm Charles Schwab slid 3.7% after it said Monday that it plans to cut jobs to save $500 million in costs. Bloomberg also reported the company is looking to raise debt in the bond market.
American Airlines – The airline stock dipped 1.7% after American Airlines pilot approved a new labor deal that includes a 21% pay bump.
Baidu – U.S.-listed shares of the Chinese internet company gained more than 4% after Baidu reported stronger-than-expected results for the second quarter, with revenue rising 15% on a year-over-year basis. Baidu attributed AI to a boost in online marketing sales growth for the period.
Microsoft, Activision — Shares of Microsoft and Activision both rose about 1% after the tech giant submitted a new
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