Pedestrians pass through a Nordstrom Inc. store.
Ben Nelmez | Bloomberg | Getty Images
Check out which companies are making the headlines in midday trading.
Nordstrom – Store shares rose 39% after the company Better than expected profits And sales for the holiday quarter. The strong results also prompted Nordstrom to offer an optimistic outlook for the year ahead. Meanwhile, the retailer called for improvements to its non-price business, Nordstrom Rack, amid a report that the company was reviewing a potential spin-off.
sales force Salesforce shares gained nearly 1% midday after the company’s announcement win profits. The software giant issued optimistic guidance after beating expectations in the last quarter of the year in earnings. The company reported adjusted earnings of 84 cents per share on revenue of $7.33 billion. Analysts expected earnings of 74 cents per share on revenue of $7.24 billion, according to Refinitiv.
stronghold Ford shares jumped 6.5 percent in the middle of the day after the company said it plans to do so Separating electric vehicles from old businesses. The move is expected to streamline the company’s growing electric car business and increase profits. The automaker plans to deliver significant financial results for both units, and its Ford+ business, by 2023.
SoFi SoFi shares rose more than 4% at midday after its better-than-expected quarterly results. The fintech company reported a loss of 15 cents per share, versus analyst expectations of a loss of 17 cents per share. SoFi also reported that it reached an all-time high in the number of added members, ending 2021 with 3.5 million members, up 87% from the start of the year.
Russians – Shares of Ross Stores jumped 7% midday after beating fourth-quarter earnings. The non-price retail giant reported earnings of $1.04 per share on revenue of $5.02 billion. Analysts expected earnings of 87 cents per share on revenue of $4.96 billion.
Hewlett-Packard Hewlett Packard shares jumped 10.8% after the company beat its fourth-quarter earnings expectations. Hewlett Packard reported earnings of 53 cents per share for the quarter, topping analysts’ estimates by 7 cents. Revenue lagged behind Refinitiv’s consensus estimate.
Abercrombie and Fitch Retail stock fell 15% at midday after reporting weaker-than-expected quarterly results. Abercrombie & Fitch reported earnings of $1.14 per share, below analyst estimates of $1.27 per share. Revenue was $1.16 billion, missing analyst estimates of $1.18 billion.
kings DraftKings shares are down nearly 3% despite Morgan Stanley Sports Betting Stock Named Best Choice. “We expect the US online sports betting/iGaming market to be very large, with a few market share winners, including DKNG,” said Morgan Stanley.
CNBC’s Samantha Soobin, Hana Miu, Yoon Lee and Sarah Min contributed reporting.
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