Coca-Cola shares jumped more than 4% after the company posted earnings and revenue that topped analyst expectations. United Technologies advanced nearly 2%.US Marketsread more
The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
In advance of Amazon's earnings report on Thursday, Craig Johnson says the stock chart is pointing to big gains. Mark Tepper also likes the stock.Trading Nationread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a monthlong truce.Marketsread more
Lawmakers, industry representatives and advocates are testifying to the Senate committee about the challenges that cannabis companies face in states where medical or...Health and Scienceread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
Nordstrom's stock plunged 7 percent in Friday's premarket after the company reported disappointing quarterly sales growth.
The Seattle-based retailer said same-store sales — a key metric for retail companies — rose 0.6 percent in the first quarter from the year-earlier period. Analysts polled by StreetAccount expected an increase of 1.1 percent.
Atlantic Equities analyst Daniela Nedialkova said in a note Friday the miss was driven by a weaker performance in Nordstrom's off-price business, which includes Nordstrom Rack.
"While this shortfall sparked the negative after-hours reaction, we see a positive in the continued acceleration of full-line. This is the second positive comp in a row from full-line, after a long period of negatives and a lack of consistency," Nedialkova said.
The miss on same-store sales was enough to overshadow better-than-expected revenue and earnings for the first quarter. Nordstrom posted revenue of $3.56 billion and a profit of 51 cents per share.
Nedialkova — who has an overweight rating on the stock and a price target of $58 — said the stock's decline represents a buying opportunity for investors. Nordstrom shares closed at $50.91 on Thursday.
"We see a strengthening full-line vs off-price trend as a positive indicator — both for overall consumer health and demand for softlines and for JWN itself. FY18 should be an inflection point for margins at JWN, and full-line is a big part of the inflection story," she said.