Wednesday was a remarkably strong day for U.S. stocks, as Donald Trump’s presidential election win first sent stock futures plunging before the markets rallied strongly during the regular trading day. The S&P 500 index climbed 1.1%, the Dow Jones Industrial Average gained 1.4% and the Nasdaq Composite grew 1.1%.
A number of stocks will be on the move this morning, including Twitter Inc (NYSE:TWTR), Macy’s Inc (NYSE:M) and Sodastream International Ltd (NASDAQ:SODA).
Here’s what you need to know heading into Thursday’s trade:
Macy’s Inc (M)
M stock is up solidly on Thursday morning despite a third-quarter miss on both the top and bottom lines.
Macy’s reported profits of 17 cents per share on an adjusted basis, well under expectations of 41 cents per share. Meanwhile, revenues of $5.626 billion were both off from last year’s $5.87 billion and just below estimates for $5.64 billion. Worse still were comparable-store sales, which declined by 3.3%. Wall Street was looking for a 2.8% slide.
But the way forward at least looked better.
Macy’s stuck with its full-year forecast for earnings, ranging from $3.15 to $3.40 per share. The company even upgraded its forecast for full-year comps, from a range of negative 3%-4% to a range of 2.5%-3%.
Moreover, Macy’s will redevelop 50 stores as part of a joint venture with Brookfield Asset Management Inc (NYSE:BAM).
M shares are up more than 3% in Thursday’s early trade.
Twitter Inc (TWTR)
TWTR shares were sinking on news that veteran Chief Financial Officer Adam Bain will be leaving the company.
Bain served the social media company for six years, and will be replaced by Anthony Noto, effective immediately. Noto’s background comes in helping to run Twitter’s live streams and other videos. He is also the CFO of the network — a role he will retain until the site finds a replacement.
Bain tweeted on the matter, saying he was moving on to “something new outside the company,” but not revealing what exactly this entails. He thanked co-founders Evan Williams and Biz Stone, as well as CEO Jack Dorsey for the opportunity.
“We took the company from $0 to Billions faster than almost anyone’s ever done it,” Bain wrote. “We diversified the business, took it global.”
TWTR shares were off more than 1% in premarket trade.
Sodastream International Ltd (SODA)
Beverage carbonation wizard Sodastream put out a massive earnings beat that were sending SODA shares to multiyear highs.
Sodastream reported earnings of 69 cents per share, crushing expectations for 24 cents per share. Revenues enjoyed a more modest beat, but $124.2 million in sales still was plenty to top estimates of $117.7 million.
The beat was spurred by a 14% improvement in Americas revs, as well as 9% higher sales in Western Europe. The company also boasted a 23% increase in sparkling water maker unit sales to 788,000 — Sodastream’s “highest quarterly figure in nearly two years,” according to CEO Daniel Birnbaum.
SODA stock was up 17% in premarket trade.
