The U.S. stock market had a steady day following a gloomy Wednesday as the global economy weakens. The S&P 500 fell just a tick, while the Dow Jones Industrial Average rose 0.1% Thursday.
More companies from a variety of industries reported their quarterly earnings data Thursday, including Nordstrom, Inc. (NYSE:JWN), Nvidia Corporation (NASDAQ:NVDA) and Shake Shack Inc (NYSE:SHAK).
Here’s how these stocks did yesterday:
Nordstrom, Inc. (JWN)
Friday is shaping up to be a tough one for JWN shareholders amid the retailer’s disappointing financial results.
Nordstrom earned 26 cents per share in its first quarter, falling well shy of expectations for 45 cents per share. Revenues also failed to hit the mark, as revs of $3.25 billion just missed the Wall Street consensus estimate for $3.28 billion.
JWN drove decent traffic to its stores, but it required heavy discounting to get it done. Co-president Blake Nordstrom said the company has “made further adjustments to our inventory and expense plans” in response.
Nordstrom now expects to earn between $2.50 and $2.70 per share, way below analyst expectations for $3.20 per share.
JWN stock was set to open Friday’s trading down 16%.
Nvidia Corporation (NVDA)
Nvidia will be heading higher today thanks to a solid first quarter.
Gaming and auto revenues helped push Nvidia’s results higher. Sales of gaming chips surged 17% in the most recent quarter, and revs from auto chips rocketed 47% higher in the quarter to help power overall sales to a 13% improvement to $1.3 billion, which topped consensus estimates.
Earnings of 46 cents per share easily got by projections of 32 cents.
Moreover, current-quarter guidance for revenues of $1.35 billion (+/- 2%) was enough to get past expectations of $1.28 billion.
NVDA stock is set to open the day up 8%.
Shake Shack Inc (SHAK)
Shake Shack continues to be one of the hottest burger chains in the U.S. as its fiscal first-quarter results impressed.
The restaurant reported that sales increased 9.9% during the quarter, helping drive earnings to 8 cents per share. Analysts had predicted EPS of 5 cents.
The company also posted revenue that beat the consensus estimate, coming in at $54.16 million. Wall Street expected $52.06 million of revenue for Shake Shack.
SHAK shares are on pace to open Friday up 6%.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.
