Midday movers: Salesforce, Kohl's and Agilent fall; Foot Locker, HP rise
Investing.com -- U.S. stock futures fell Thursday, with sentiment hit by ongoing concerns that stronger than expected economic growth and sticky inflation will delay rate cuts by the Federal Reserve.
Here are some of the biggest U.S. stock movers today:
Salesforce (NYSE: CRM) stock slumped 21% after the workplace software group unveiled current-quarter guidance that fell short of analysts' estimates.
Walt Disney (NYSE: DIS) stock rose 0.7% after CNBC reported that activist investor Nelson Peltz has offloaded his entire stake in the entertainment giant, raking in roughly $1 billion.
Moderna (NASDAQ: MRNA) stock rose following a Financial Times report that said the U.S. government is nearing an agreement to fund a late-stage trial of the drug maker's pandemic bird flu vaccine. The stock erased gains intraday, falling 2.4%.
Foot Locker (NYSE: FL) stock rose over 23% after the retailer affirmed its guidance for 2024 as its turnaround plan showed signs of progress.
Dollar General (NYSE: DG) stock initially rose after the discount retailer posted strong first-quarter earnings on demand from cash-strapped customers, but shares slipped 4.4% during the regular session. Results were viewed as better than feared but not stellar.
Kohl’s (NYSE: KSS) stock slipped 28% after the department store chain reported an unexpected first-quarter loss and issued a 2025 profit warning.
American Eagle Outfitters (NYSE: AEO) stock fell 4% after the apparel retailer’s fiscal first-quarter sales came in weaker than expected, even as revenue was 5% above the levels seen a year ago.
Pure Storage (NYSE: PSTG) stock rose 9.5% after the company posted strong first-quarter earnings, highlighting AI-driven demand for its data storage platform, but it could not hold onto gains after the market open.
HP (NYSE: HPQ) stock rose 15% after the PC maker’s quarterly earnings beat estimates on improving demand, thanks in part to AI.
UiPath (NYSE: PATH) stock slumped 35% after the software company announced that CEO Rob Enslin is resigning, to be replaced by co-founder Daniel Dines, who stepped down as co-CEO on Jan. 31.
Hormel Foods (NYSE: HRL) stock fell 9% after the food company warned of headwinds for turkey and impacts from facility issues.
Agilent (NYSE: A) stock fell 8% after the healthcare equipment maker’s second-quarter revenue registered an 8.4% decline from the same period last year, with the company lowering its 2024 guidance.
Dell Technologies (NYSE: DELL) fell 7% ahead of the release of its first quarter results later today. The stock is still up 40% in the past 30 days.
ServiceNow (NYSE: NOW) fell 10%, declining in sympathy with Salesforce. Oracle (NYSE: ORCL), SAP SE (NYSE: SAP), Autodesk (NASDAQ: ADSK) and Adobe Systems (NASDAQ: ADBE), were also lower.
Additional reporting by Louis Juricic