Stocks to Watch: JCP, HD, DKS & More

Take a look at some of Tuesday's morning movers:

J.C. Penney - Pershing Square's Bill Ackman, a major shareholder in the retailer, told CNBC's "Squawk Box" that the retailer's turnaround strategy will work, despite an ongoing drop in sales. He says the transformation of stores into the "new JCP" will ultimately double the amount of money generated per square foot.

Home Depot - The home improvement retailer earned $0.74 per share for the third quarter, excluding certain items, four cents above estimates. Home Depot also raised its earnings estimate for the year, as it sees signs of recovery in the housing market.

Dick's Sporting Goods - The sporting goods chain reported third-quarter profit of $0.40 per share, three cents above estimates, with same store sales rising 5.1 percent.

Michael Kors - The luxury goods maker earned $0.49 per share for its fiscal second quarter, nine cents above estimates. Revenue was also above consensus, with the company saying its record results reflect the strength of its flagship brand.

Dow Chemical - Goldman Sachs has upgraded the stock to "buy" from "neutral," with Goldman saying any weakness in some of Dow's businesses is now reflected in analysts' earnings estimates. Goldman noted that Dow's stock performance has lagged those of its peers this year.

Take-Two Interactive - Investor Carl Icahn has increased his stake in the videogame maker for the third time in a week. He now holds an 11.69 percent stake according to a U.S. Securities and Exchange Commission filing, up from the prior 10.68 percent.

Microsoft - Windows unit president Steven Sinofsky is departing, telling employees in a memo that he's leaving to pursue other opportunities. The announcement comes shortly after Microsoft launched its Windows 8 operating system.

Hologic - Hologic reported quarterly profit of $0.37 per share, excluding certain items. That matched estimates, but its current quarter guidance on both earnings and revenues fell short of current Street consensus. Hologic is a maker of women's health products.

Host Hotels - The hotel chain has cut its full-year profit outlook because of damage to several of its East Coast properties from Hurricane Sandy. The biggest impact was on its New York Marriott Downtown, which was closed for 15 days due to the loss of power and heat.

Vodafone - Vodafone is taking a 5.9 billion pound ($9.4 billion) writedown, related to a drop in the value of its businesses in Spain and Italy. The telecommunications services provider also lowered its full-year outlook because of a significant slowdown in its southern European business.

Cornerstone OnDemand - Cornerstone reported a wider third-quarter loss, but revenue exceeded Street estimates and the provider of human resources software also saw a significant increase in bookings.

AK Steel - The steelmaker has lowered its shipment outlook for the fourth quarter, with average selling prices declining about 5 percent from third quarter levels.

F5 Networks - Goldman Sachs has upgraded the stock to "buy" from "neutral," saying several new revenue opportunities will help reverse a recent decline in product sales and consensus earnings estimates.

—By CNBC's Peter Schacknow

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