Here are Tuesday’s biggest analyst calls biggest calls on Wall Street: BTIG downgrades Snowflake to neutral from buy BTIG downgraded the stock after its field checks indicated slowing growth and rising competition for the cloud company. “We are downgrading SNOW to a Neutral rating from Buy. In short, our most recent field checks are downticked, … Read more
Investors should buy department stores Ross Stores and Burlington Stores that will benefit in a rising inflation environment, according to Goldman Sachs. Analyst Brooke Roach initiated coverage of the two companies with buy ratings, saying they will outperform even as other apparel retailers struggle with pullbacks in consumer spending. “The outlook for the apparel sector … Read more
Traders work on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, March 7, 2022. Andrew Kelly | Reuters If there’s more bad news from retailers in the coming week, that could be a negative catalyst for an already cranky stock market. Market pros are watching for more signs … Read more
Take a look at some of the biggest movers in the premarket: Best Buy – Shares of the retailer climbed 5% in premarket trading after the company announced it was raising its quarterly dividend by 26%. The move comes despite an underwhelming fourth-quarter report from Best Buy, with adjusted earnings just matching analyst expectations, according … Read more
Nordstrom signage outside one of the company’s full-line department stores. Tim Boyle | Getty Images News | Getty Images Nordstrom shares are soaring after the department store chain offered up an upbeat outlook for the coming year, forecasting profits and single-digit revenue growth. Other retailers including Macy’s, Kohl’s and Target have similarly offered better-than-expected full-year … Read more