3 Stocks to Watch on Friday: Walt Disney Co (DIS), Michael Kors Holdings Ltd (KORS) and Nordstrom, Inc. (JWN)

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U.S. stocks were mixed on Thursday, on a day when oil fell 1.4%. The S&P 500 Index gained 0.2%, the Dow Jones Industrial Average climbed 1.2% and the Nasdaq Composite lost 0.8%.

3 Stocks to Watch on Friday: Walt Disney Co (DIS), Michael Kors Holdings Ltd (KORS) and Nordstrom, Inc. (JWN)Earnings dominated the afternoon news Thursday, with companies such as Walt Disney Co (NYSE:DIS), Michael Kors Holding Ltd (NYSE:KORS) and Nordstrom, Inc. (NYSE:JWN) releasing quarterly data.

Here’s how they did:

Walt Disney Co (DIS)

Disney reported its quarterly earnings results Thursday.

The company earned $1.10 per share on an adjusted basis, which was lower than the $1.16 per share that analysts polled by Thomson Reuters expected it to earn.

For the three-month period, Disney raked in a total of $13.14 billion in revenue, which was lower than the $13.52 billion that Wall Street was calling for.

CEO Bob Iger was quite happy with the company’s quarter, as it marked Disney’s highest-ever total in revenue, net income and earnings. Its ESPN channel lost 621,000 subscribers in a month.

Operating income in Disney’s parks and resorts division fell 5%.

Still, DIS shares gained 2.5% after hours.

Michael Kors Holding Ltd (KORS)

Michael Kors also released its financial data yesterday.

The company’s comparable sales were 5.4% lower, which was better than the estimate by analysts of 5.8%. Earnings topped expectations of 88 cents per share as the company earned 95 cents per share.

Revenue was 3.7% lower year-over-year, coming in at $1.09 billion, which marks the company’s first decline since going public in 2011.

“Our results continued to be impacted by the declines in mall traffic and tourism in certain major cities, as well as our strategic decision to reduce sell-in of inventory to the U.S. wholesale channel,” CEO John Idol said.

Sales in the company’s wholesale business fell 18.4% to $452.2 million over the course of the second quarter. Kors’ revenue forecast for the full year was reduced to about $4.55 billion.

Adjusted earnings are expected to be in the range of $4.37 to $4.43 per share — the bottom line is 19 cents lower than the company’s previous profit prediction.

KORS shares declined 5.8% Thursday after the bell.

Nordstrom, Inc. (JWN)

Nordstrom’s earnings helped shares surge yesterday.

The company brought in 84 cents per share on an adjusted basis, topping earnings estimates by 33 cents per share, based on the consensus estimate.

Revenue managed to receive a 7.2% increase year-over-year to $3.54 billion, which is better than what Wall Street was calling for by $60 million.

Same-store sales fell 4.5% at Nordstroms, while rising 0.9% at Rack stores. Online sales for Nordstrom managed to rise 20% year-over-year.

JWN stock popped 4.4% after Thursday’s market close.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/11/stocks-to-watch-on-friday-walt-disney-co-dis-michael-kors-holdings-ltd-kors-and-nordstrom-inc-jwn/.

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