3 Stocks to Watch on Friday: Acacia Communications, Inc. (ACIA), Baidu Inc (ADR) (BIDU) and Nordstrom, Inc. (JWN)

ACIA shares are plummeting after reporting disappointing guidance

Thursday spawned mixed results for U.S. equities as Treasury bonds strengthened and the dollar weakened. The S&P 500 Index posted a gain of a fraction of a percentage, the Dow Jones Industrial Average gained 0.2% and the Nasdaq Composite lost 0.4%.

3 Stocks to Watch on Friday: Acacia Communications, Inc. (ACIA), Baidu Inc (ADR) (BIDU) and Nordstrom, Inc. (JWN)It was another busy earnings day that included mixed results from several companies, including Acacia Communications, Inc. (NASDAQ:ACIA), Baidu Inc (ADR) (NASDAQ:BIDU) and Nordstrom, Inc. (NYSE:JWN).

Here’s what you should know:

Acacia Communications, Inc. (ACIA)

Acacia Communications shares were hammered in the evening as the company released a forecast that underwhelmed. The company reported earnings of $64.5 million, or $1.55 per share for its latest three-month period. Adjusted for stock-based compensations, Acacia posted earnings of 94 cents per share, well ahead of the 90 cents per share that analysts expected.

Revenue was also better than what the consensus estimate called for as the company raked in $142.4 million. This figure was $2.7 million higher than the $139.7 million that Wall Street was calling for.

However, ACIA stock took a massive hit as the company released a first-quarter forecast that will be about 70 cents per share. Analysts are calling for earnings of 78 cents per share.

Revenue will be about $111 million, which is below the $137.3 million that analysts predict. The company only went public in May. ACIA shares are down some 14% in Friday’s early trading.

Baidu Inc (ADR) (BIDU)

Baidu reported strong quarterly results that helped drive the stock higher. For its fourth quarter, the company reported earnings of 4.13 billion yuan ($594.7 million), or $1.64 per American depositary share. On an adjusted basis, this figure was $1.91 per ADS. Analysts polled by FactSet were calling for earnings of $1.09 per share.

Revenue suffered a 2.6% setback year-over-year, coming in at $2.62 billion. The figure missed expectations as analysts were anticipating net sales of around $2.66 billion.

Baidu also announced that it had appointed Qi Lu, its chief operating officer, as vice chairman of the board. BIDU stock is off 4.1% Friday morning.

Nordstrom, Inc. (JWN)

Nordstrom posted strong earnings for its latest quarter. The retailer earned $1.15 per share over the course of its fourth quarter, marking a 15% increase year-over-year. Adjusted earnings came in at $1.37 per share, excluding certain items.

The consensus estimate called for earnings of $1.15 per share. Revenue came in at $4.32 billion for the quarter, marking a 2.9% surge compared to the same quarter in fiscal 2015.

CEO Blake Nordstrom noted that part of the company’s success has to do with its focus on technological innovation. “We are focused on speed, convenience and personalization,” he said.

There was a 45% increase in fiscal 2016 of online shoppers compared to the previous year. JWN stock is up 3.6% Friday.

Article printed from InvestorPlace Media, https://investorplace.com/2017/02/3-stocks-watch-friday-acacia-communications-inc-acia-baidu-inc-adr-bidu-nordstrom-inc-jwn/.

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