Nordstrom’s stock fell 10% in midday trading on November 27, 2024, after CEO Erik Nordstrom reported a sales slowdown that began in late October. Despite this, the company’s third-quarter revenue of $3.46 billion surpassed the $3.35 billion consensus from LSEG analysts.
- Nordstrom shares fell 10% on sales slowdown.
- HP stock dropped 13% due to earnings guidance.
- Urban Outfitters stock jumped 14% on earnings beat.
- Dell shares plunged 13% after revenue miss.
- CrowdStrike guidance slightly below analyst expectations.
- Symbotic stock tumbled 38.9% due to accounting errors.
In addition to Nordstrom’s decline, HP’s shares fell 13% after the company issued weaker-than-expected earnings guidance, projecting earnings per share between 70 and 76 cents, below the FactSet estimate of 85 cents. Dell Technologies also saw a 13% drop after reporting a revenue miss and forecasting lower-than-expected fourth-quarter earnings.
Conversely, Urban Outfitters experienced a 14% increase in stock value after reporting adjusted earnings of $1.10 per share, exceeding the analysts’ expectation of 86 cents. Their revenue also beat estimates, coming in at $1.35 billion against a $1.34 billion consensus. Other notable movements included a 5.6% rise for Ambarella, which provided an optimistic outlook for its fourth-quarter revenue.
Meanwhile, cryptocurrency-related stocks saw gains as Bitcoin prices approached $100,000. Stocks like Coinbase and MicroStrategy rose, reflecting the cryptocurrency’s recovery. Conversely, CrowdStrike’s shares fell 5.9% due to slightly lower guidance for the upcoming quarter, with forecasts of 84 to 86 cents in earnings per share, missing analyst expectations.
Overall, the midday trading session highlighted significant volatility among major retail and tech stocks, with some companies reporting strong earnings while others faced disappointing forecasts. The mixed results reflect broader market trends as investors react to economic signals and company performance.
