US Stock Movers: Macy’s Slips, Bath & Body Works Soars Amid Market Boost
- Sentiment improved after Donald Trump nominated Scott Bessent as Treasury Secretary.
- The company delayed its third-quarter release due to an accounting issue.
- The company raised its full-year guidance after reporting strong third-quarter earnings.
US Stock Market Update
US stocks traded higher on Monday. Sentiment improved after Donald Trump nominated Scott Bessent as Treasury Secretary.
Premarket Stock Movers:
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Macy’s (NYSE:): Stock fell 4.4%. The company delayed its third-quarter release due to an accounting issue. Preliminary sales figures were disappointing, as promotions did not attract customers.
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Bath & Body Works (NYSE:): Stock rose over 10%. The company raised its full-year guidance after reporting strong third-quarter earnings.
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Palantir (NYSE:): Stock increased 2.8%. Wedbush raised its price target, encouraging investment in the AI sector.
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Merck (NS:): Stock climbed 1.1%. The drugmaker reported that its drug, Winrevair, significantly reduced death risks for patients with a rare lung condition.
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Peabody Energy (NYSE:): Stock dropped 7.2%. The coal company agreed to purchase Anglo American’s remaining Australian coal mines for up to $3.78 billion.
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Snowflake (NYSE:): Stock rose 3.5%. Wedbush upgraded its rating to ‘outperform’, citing growth potential, especially in AI.
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Procter & Gamble (NYSE:): Stock increased 0.5%. DA Davidson upgraded its rating to ‘buy’, noting positive sales in China.
- Summit Materials (NYSE:): Stock fell 2.4%. The cement company announced its acquisition by Quikrete for $11.5 billion.